Marketing I
How Well Do U Know
Marketing?
20 Questions; 5 points each.
The answers follow the Qs.
Question #1
The study of consumers and how they make
decisions is called . . .
a.
b.
c.
d.
Buying Motives
Consumer Behavior
Psychographics
Self-Regulation
Question #2
The total revenue that can be obtained from a
market segment is
a.
b.
c.
d.
Potential Earnings
Market Potential
Market Share
Market Segment
Question #3
Demographic characteristics include
a.
b.
c.
d.
Income
Hobbies
Personal Interests
All of the Above
Question #4
The failure rate for new products in the
marketplace, on average, is
a.
b.
c.
d.
10%
50%
30%
70%
Question #5
A product will succeed if it (is)
a.
b.
c.
d.
Cute
Inexpensive
Useful to the consumer
Easy to make for the company
Question #6
Clearly defined segment focused on by the
company.
a.
b.
c.
d.
Marketplace
Consumer Market
Target Market
Business Market
Question #7
Characteristics that make a basic product
unique.
a.
b.
c.
d.
Options
Features
Image
Assortment
Question #8
The most flexible transportation method is
a.
b.
c.
d.
Trucks
Railroads
Ships
Airplanes
Question #9
What is an advantage of using Advertising?
a.
b.
c.
d.
Immediate Feedback
Mass Audience
Free
Little Control
Question #10
Who is best able to define consumers’ needs
& what it takes to satisfy them?
a.
b.
c.
d.
marketers
businesses
consumers
All of the above
Question #11
Which marketing function establishes the
value of products & services?
a.
b.
c.
d.
selling
pricing
product/service management
marketing information management
Question #12
Which marketing function helps customers
better locate & obtain products?
a.
b.
c.
d.
promotion
distribution
selling
financing
Question #13
The most difficult type of competition
businesses face is a market in which they
compete with
a.
b.
c.
d.
Similar products
Different products
Lower quality products
More expensive products
Question #14
Routine decision-making might be used
when?
a.
b.
c.
d.
Hiring a new employee
Redecorating the office
Studying consumer behavior
Purchasing operating supplies
Question #15
The simplest type of distribution channel
a.
b.
c.
d.
direct
indirect
reverse
linked
Question #16
Which is not a component of the Marketing
Mix?
a.
b.
c.
d.
Promotion
Price
Proboscis
Product
Question #17
Which is not a type of creative format used in
advertising?
a.
b.
c.
d.
Musical
Special
Testimonial
Technical
Question #18
The process of gathering information about a
company’s competition is
a.
b.
c.
d.
Information search
Problem recognition
Decision-making process
Marketing intelligence
Question #19
Which is not a characteristic of
demographics?
a.
b.
c.
d.
Income
Lifestyle
Gender
Education
Question #20
Game costs $25 to make.
Retail markup is $12.
What is the Selling Price?
a.
b.
c.
d.
$??
$??
$??
$??
Marketing I
Here Are The Answers?
Remember: 5 points each.
Question #1
The study of consumers and how they make
decisions is called . . .
a.
b.
c.
d.
Buying Motives
Consumer Behavior
Psychographics
Self-Regulation
Question #2
The total revenue that can be obtained from a
market segment is
a.
b.
c.
d.
Potential Earnings
Market Potential
Market Share
Market Segment
Question #3
Demographic characteristics include
a.
b.
c.
d.
Income
Hobbies
Personal Interests
All of the Above
Question #4
The failure rate for new products in the
marketplace, on average, is
a.
b.
c.
d.
10%
50%
30%
70%
Question #5
A product will succeed if it (is)
a.
b.
c.
d.
Cute
Inexpensive
Useful to the consumer
Easy to make for the company
Question #6
Clearly defined segment focused on by the
company.
a.
b.
c.
d.
Marketplace
Consumer Market
Target Market
Business Market
Question #7
Characteristics that make a basic product
unique.
a.
b.
c.
d.
Options
Features
Image
Assortment
Question #8
The most flexible transportation method is
a.
b.
c.
d.
Trucks
Railroads
Ships
Airplanes
Question #9
What is an advantage of using Advertising?
a.
b.
c.
d.
Immediate Feedback
Mass Audience
Free
Little Control
Question #10
Who is best able to define consumers’ needs
& what it takes to satisfy them?
a.
b.
c.
d.
marketers
businesses
consumers
All of the above
Question #11
Which marketing function establishes the
value of products & services?
a.
b.
c.
d.
selling
pricing
product/service management
marketing information management
Question #12
Which marketing function helps customers
better locate & obtain products?
a.
b.
c.
d.
promotion
distribution
selling
financing
Question #13
The most difficult type of competition
businesses face is a market in which they
compete with
a.
b.
c.
d.
Similar products
Different products
Lower quality products
More expensive products
Question #14
Routine decision-making might be used
when?
a.
b.
c.
d.
Hiring a new employee
Redecorating the office
Studying consumer behavior
Purchasing operating supplies
Question #15
The simplest type of distribution channel
a.
b.
c.
d.
direct
indirect
reverse
linked
Question #16
Which is not a component of the Marketing
Mix?
a.
b.
c.
d.
Promotion
Price
Proboscis
Product
Question #17
Which is not a type of creative format used in
advertising?
a.
b.
c.
d.
Musical
Special
Testimonial
Technical
Question #18
The process of gathering information about a
company’s competition is
a.
b.
c.
d.
Information search
Problem recognition
Decision-making process
Marketing intelligence
Question #19
Which is not a characteristic of
demographics?
a.
b.
c.
d.
Income
Lifestyle
Gender
Education
Question #20
Game costs $25 to make.
Retail markup is $12.
What is the Selling Price?
a.
b.
c.
d.
$37
$37
$37
$37