QUESTION In the definition of value, what is the most important word to note? A) customer B) perception C) costs D) benefits E) competitor ANSWER Answer: B
Date: September 3rd, 2020
QUESTION Which is an example of promotion done by a not-for-profit company? A) a church advertising a raffle for two gospel concert tickets B) a car dealership offering a $3,000 rebate with the purchase of a car C) a health spa offering three nights for the price of two D) a cereal maker printing a […]
Date: September 3rd, 2020
QUESTION Which of the following products is marketed today according to the mindset popular during the production era? A) clothing B) bottled water C) oil D) automobiles E) cell phones ANSWER Answer: C Explanation: C) Oil, which is in tremendous demand today, fits the definition of a product marketed under the production concept.
Date: September 3rd, 2020
QUESTION Idaho potatoes are likely sold all over the United States, but it is unlikely that the Idaho potato industry spends many marketing dollars to promote its potatoes in New England, due to the large potato production in Maine. This is an example of what kind of consumer marketing segmentation? A) demographic segmentation B) user-rate […]
Date: September 3rd, 2020
QUESTION Which of the following is defined as a customer’s perception that a certain product offers a better relationship between costs and benefits than competitors’ products do? A) selling concept B) customer satisfaction C) value D) marketing concept E) consumer buying behavior ANSWER Answer: C Explanation: C) Value is defined as a customer’s perception […]
Date: September 3rd, 2020
QUESTION Which era of marketing by name is correctly paired with its time frame? A) selling era: 1920s to 1950s B) marketing concept era: 1700s to 1920s C) production era: 1950s to 1990s D) selling era: 1990s to present E) production era: 1920s to 1950s ANSWER Answer: A Explanation: A) The selling era was […]
Date: September 3rd, 2020
QUESTION Why do most for-profit organizations try not to rely on a single product and instead offer a number of products? What will be an ideal response? ANSWER Answer: A primary reason is to better survive wide swings in demand for a product. Explanation: Most for-profit organizations try not to rely on a single […]
Date: September 3rd, 2020
QUESTION Jamal was having problems getting his taxes done. At what stage is Jamal in the consumer buying process? A) I realize I have a problem to resolve. B) I’ve got to find a solution to my problem. C) I’ll weigh the pros and cons of the products available. D) I’ll choose this one or […]
Date: September 3rd, 2020
QUESTION Which of the following gives the five steps in the consumer buying process in the correct order? A) information search > evaluating alternatives > problem recognition > purchase decision > postpurchase evaluation B) information search > problem recognition > purchase decision > postpurchase evaluation > evaluating alternatives C) problem recognition > information search > […]
Date: September 3rd, 2020
QUESTION Louise has bleached her hair for the first time and is in the market for a shampoo that is meant for bleached hair. She has found three such products in the drugstore and has read all the information on all bottles. What is Louise’s next step? A) recognize her problem B) look for information […]
Date: September 3rd, 2020
