QUESTION Leah was in a bad mood. She had just had a fight with her boyfriend over what to do on Saturday afternoon. She went to the mall to hang out with her friends. While there, she tried on a funky shirt that she had decided a week ago was too expensive. Today she thought, […]
Date: September 3rd, 2020
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 A new product is defined as a product that either (1) is a significant improvement over existing products or (2) performs a new function for the consumer. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: A new product is defined as a product that either (1) is a significant […]
Date: September 3rd, 2020
QUESTION The marketing process starts with conducting research and determining a target market. Then it follows the four Ps of the marketing mix, in this order: product strategy > place strategy > promotion strategy > pricing strategy. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: The four Ps are pursued […]
Date: September 3rd, 2020
QUESTION A company has an idea for a product. The first thing the company should do is establish whether there is a market for the product. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: The first thing the company should do is conduct research to determine whether there is a […]
Date: September 3rd, 2020
QUESTION Test marketing is marketing research designed to solicit initial consumer reaction to new product ideas. Indicate whether the statement is true or false. ANSWER Answer: FALSE Explanation: The definition given is for concept testing. Test marketing is the process of testing products among potential users.
Date: September 3rd, 2020
