Business Marketing 1st Quarter (Quarterly)
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Questions and Answers

Which factor affects the decision of customers in buying a product or service?

  • Price (correct)
  • Marketing strategy
  • Product quality
  • Distribution plan

What is the next step a marketer should think of after having the right product and the right price?

  • Promotion
  • Product development
  • Market research
  • Distribution (correct)

What are the common tools used by marketers to promote products or services?

  • Product placement
  • Market research
  • Advertising (correct)
  • Product development

Which element of the marketing mix refers to finding suitable locations or channels where the product will be available?

<p>Place (C)</p> Signup and view all the answers

What should a marketer consider when communicating about the product, price, and place?

<p>Medium and message (B)</p> Signup and view all the answers

Which element of the marketing mix refers to the process of finding suitable locations or channels where the product will be available?

<p>Place (D)</p> Signup and view all the answers

Which factor plays a significant role in influencing the decision of customers when buying a product or service?

<p>Price (D)</p> Signup and view all the answers

What is the primary purpose of advertising in promoting products or services?

<p>To build brand awareness (B)</p> Signup and view all the answers

Which marketing tool involves direct communication between the marketer and the potential customer?

<p>Personal selling (D)</p> Signup and view all the answers

What should a marketer consider when communicating about the product, price, and place?

<p>The right medium and message (A)</p> Signup and view all the answers

Which of the following factors is considered essential in influencing customers' buying decisions?

<p>Pricing strategy (C)</p> Signup and view all the answers

What is the primary purpose of personal selling in promoting products or services?

<p>To communicate with target customers (A)</p> Signup and view all the answers

Which marketing tool involves non-paid communication through media outlets?

<p>Publicity (D)</p> Signup and view all the answers

What is the next step a marketer should consider after having the right product and the right price?

<p>Distribution plan (C)</p> Signup and view all the answers

Which marketing mix element refers to the process of finding suitable locations or channels where the product will be available?

<p>Place (D)</p> Signup and view all the answers

Which type of customer purchases goods or services for the production of their own products or services?

<p>Business markets (C)</p> Signup and view all the answers

What is the key secret in increasing the number of brand champions in a company?

<p>Providing product knowledge (D)</p> Signup and view all the answers

Which step is necessary to ensure that customers feel the genuine care and concern of the employees in providing service?

<p>Training employees (D)</p> Signup and view all the answers

Which type of customer purchases products or services to satisfy their own needs?

<p>Consumer markets (D)</p> Signup and view all the answers

Which type of customer purchases products or services to resell and gain profit from it?

<p>Reseller markets (D)</p> Signup and view all the answers

According to the text, which type of customer purchases goods or services to resell and gain profit from it?

<p>Reseller markets (C)</p> Signup and view all the answers

What is the primary purpose of personal selling in promoting products or services?

<p>To establish direct communication between the marketer and the potential customer (D)</p> Signup and view all the answers

Which marketing mix element refers to the process of finding suitable locations or channels where the product will be available?

<p>Place (C)</p> Signup and view all the answers

What is the key secret in increasing the number of brand champions in a company?

<p>Producing a product briefer that is handy and easy to read (A)</p> Signup and view all the answers

According to the text, what is the next step a marketer should think of after having the right product and the right price?

<p>Establish systems that will support excellent customer service (B)</p> Signup and view all the answers

According to the text, which type of customer purchases goods or services to satisfy their own needs?

<p>Consumer markets (A)</p> Signup and view all the answers

According to the text, which type of customer purchases goods or services for the production of their own products or services?

<p>Business markets (B)</p> Signup and view all the answers

According to the text, which type of customer purchases goods or services to resell and gain profit from it?

<p>Reseller markets (B)</p> Signup and view all the answers

According to the text, which type of customer purchases commodities or services to provide public services?

<p>Government markets (A)</p> Signup and view all the answers

According to the text, which type of customer imports commodities for various purposes?

<p>International markets (A)</p> Signup and view all the answers

Which of the following is NOT a method of gathering primary data in marketing research?

<p>Secondary research (B)</p> Signup and view all the answers

What are the three factors that need to be considered in designing a sample for marketing research?

<p>Sampling unit, sampling size, sampling procedures (D)</p> Signup and view all the answers

Which of the following is a type of probability sample?

<p>Stratified random sample (A)</p> Signup and view all the answers

Which of the following is NOT a research instrument used in gathering primary data?

<p>Observation (D)</p> Signup and view all the answers

What is the purpose of open-end questions in marketing research?

<p>To understand the consumers better by finding out what they are thinking (B)</p> Signup and view all the answers

Which of the following is NOT a method of gathering primary data in marketing research?

<p>Secondary research (B)</p> Signup and view all the answers

What is the term used to refer to a segment of the population selected for marketing research?

<p>Sampling unit (D)</p> Signup and view all the answers

Which type of sample involves selecting subjects based on specific characteristics or attributes?

<p>Stratified random sample (D)</p> Signup and view all the answers

Which research instrument is the most common and flexible in gathering primary data?

<p>Questionnaires (A)</p> Signup and view all the answers

What is the purpose of open-end questions in marketing research?

<p>To gather rich information (B)</p> Signup and view all the answers

Which method of gathering primary data in marketing research allows researchers to observe the non-verbal reactions of the interviewee?

<p>Personal interviews (B)</p> Signup and view all the answers

What does the term 'sample' refer to in marketing research?

<p>The segment of the population selected for research (A)</p> Signup and view all the answers

Which type of sample involves selecting subjects based on specific characteristics or attributes?

<p>Quota sample (A)</p> Signup and view all the answers

What is the most common research instrument used by marketing researchers?

<p>Questionnaires (D)</p> Signup and view all the answers

What type of questions provide respondents with possible answers to choose from?

<p>Close-ended questions (D)</p> Signup and view all the answers

Which of the following is NOT a personal factor that influences buyer behavior?

<p>Perception (C)</p> Signup and view all the answers

Which type of buying behavior occurs when customers are highly involved in buying and perceive remarkable variations among the brands?

<p>Complex Buying Behavior (A)</p> Signup and view all the answers

Which of the following is NOT one of the three perceptual processes mentioned in the text?

<p>Selective comprehension (A)</p> Signup and view all the answers

Which of the following is NOT a psychological factor that influences buyer behavior?

<p>Perception (D)</p> Signup and view all the answers

Which of the following is NOT a type of buying behavior mentioned in the text?

<p>Impulsive Buying Behavior (D)</p> Signup and view all the answers

Which of the following factors is NOT considered a personal factor that influences buyer behavior?

<p>Perception (D)</p> Signup and view all the answers

Which type of buying behavior occurs when customers are highly involved in buying and perceive remarkable variations among the brands?

<p>Complex Buying Behavior (C)</p> Signup and view all the answers

What is the process by which people select, organize, and interpret information to form a meaningful picture?

<p>Perception (A)</p> Signup and view all the answers

Which type of buying behavior takes place when customers are greatly involved in expensive, rare, or high-risk buying, but see small variations among brands?

<p>Dissonance-Reducing Buying Behavior (D)</p> Signup and view all the answers

What is the term used to refer to a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea?

<p>Attitude (A)</p> Signup and view all the answers

Which of the following is NOT a type of buying behavior based on the level of customer involvement and variations among brands?

<p>Dissonance-Reducing Buying Behavior (C)</p> Signup and view all the answers

Which of the following is NOT a personal factor that influences buyer behavior?

<p>Perception (C)</p> Signup and view all the answers

What is the term used to refer to a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea?

<p>Attitude (D)</p> Signup and view all the answers

Which of the following is NOT a psychological factor that influences buyer behavior?

<p>Occupation (A)</p> Signup and view all the answers

What is the process by which people select, organize, and interpret information to form a meaningful picture?

<p>Perception (C)</p> Signup and view all the answers

Which step is necessary to ensure effective market positioning?

<p>All of the above (D)</p> Signup and view all the answers

What is the purpose of product differentiation in positioning strategy?

<p>To identify competitor's physical product differences (B)</p> Signup and view all the answers

Which positioning strategy involves providing the most upscale product or service and charging a higher price to cover the higher costs?

<p>More for more positioning (B)</p> Signup and view all the answers

What is the recommended number of differences to promote in choosing the right competitive advantage?

<p>Only one salient benefit (A)</p> Signup and view all the answers

Why is it important to execute positioning strategy with utmost preciseness?

<p>To avoid confusion for the consumers (A)</p> Signup and view all the answers

Which of the following is NOT a step in choosing a positioning strategy?

<p>Identifying the unexplored market segments (C)</p> Signup and view all the answers

Which of the following is NOT a way to differentiate product offerings from competitors?

<p>Price differentiation (A)</p> Signup and view all the answers

Which positioning strategy involves providing the most upscale product or service and charging a higher price to cover the higher costs?

<p>More for more positioning (B)</p> Signup and view all the answers

Which positioning strategy involves meeting consumers' lower performance or quality requirements at a much lower price?

<p>Less-for-much-less positioning (B)</p> Signup and view all the answers

What is the term used to refer to the advantage of a company or brand over its competitors by providing customers with great value such as lower prices or unmatched benefits?

<p>Competitive advantage (D)</p> Signup and view all the answers

Which of the following is NOT a step in choosing a positioning strategy?

<p>Identifying the market segments (C)</p> Signup and view all the answers

Which of the following is NOT a way to differentiate product offerings from competitors?

<p>Channel differentiation (A)</p> Signup and view all the answers

Which of the following is NOT a brand positioning strategy mentioned in the text?

<p>More for the same positioning (B)</p> Signup and view all the answers

Which of the following is NOT a factor that companies should consider when executing a positioning strategy?

<p>Market segments (B)</p> Signup and view all the answers

Which of the following is NOT a purpose of positioning according to the text?

<p>To assess and evaluate the positioning strategy (B)</p> Signup and view all the answers

Which of the following is a purpose of informative advertising?

<p>To introduce a new product or features and establish major demand (B)</p> Signup and view all the answers

What is the purpose of persuasive advertising?

<p>To persuade consumers to buy a product (B)</p> Signup and view all the answers

What is the purpose of comparative advertising?

<p>To compare a brand to other competing brands (B)</p> Signup and view all the answers

When is reminder advertising typically used?

<p>To remind consumers about a product (D)</p> Signup and view all the answers

Which of the following is a technique used in creating advertisements?

<p>Spokesperson Technique (C)</p> Signup and view all the answers

Which of the following is NOT one of the purposes of advertising that can be the basis of advertising objectives?

<p>To entertain (C)</p> Signup and view all the answers

Which of the following is NOT one of the key players in the advertising process?

<p>The sales team (D)</p> Signup and view all the answers

Which advertising technique involves using a 'presenter' of the product to deliver the advertising message directly to the audience?

<p>Spokesperson technique (C)</p> Signup and view all the answers

Which advertising technique presents a dramatic formula of problem + solution = satisfaction?

<p>Slice of life technique (B)</p> Signup and view all the answers

Which of the following is NOT one of the basic elements of the marketing mix?

<p>Promotion (C)</p> Signup and view all the answers

Which of the following is NOT one of the purposes of advertising that can be the basis of advertising objectives?

<p>To entertain (B)</p> Signup and view all the answers

Which of the following is NOT one of the key players in the advertising process?

<p>The marketing manager (A)</p> Signup and view all the answers

Which of the following is NOT one of the advertising techniques mentioned in the text?

<p>Celebrity endorsement technique (B)</p> Signup and view all the answers

Which of the following is NOT one of the elements of the marketing mix mentioned in the text?

<p>Place (B)</p> Signup and view all the answers

Which of the following is NOT one of the basic elements of the marketing mix mentioned in the text?

<p>Threats (A)</p> Signup and view all the answers

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