Business Marketing Quiz

Product Life Cycle & Product Extension 1.Which stage is NOT part of the Product Life Cycle? A. Introduction B. Growth C. Saturation D. Decline 2. Social networking services are currently in which phase of the Product Life Cycle? A. Introduction B. Growth C. Maturity D. De...

Product Life Cycle & Product Extension 1.Which stage is NOT part of the Product Life Cycle? A. Introduction B. Growth C. Saturation D. Decline 2. Social networking services are currently in which phase of the Product Life Cycle? A. Introduction B. Growth C. Maturity D. Decline 3. Which phase of the Product Life Cycle involves reviving obsolete products for new markets? A. Introduction B. Product Adaptation C. Reintroduction D. Decline 4. Which phase of the Product Life Cycle is associated with handheld computers and smartphones? A. Introduction B. Growth C. Maturity D. Decline 5. Marketing an existing product globally instead of domestically is called: A. Product Adaptation B. Product Extension C. Reintroduction D. Branding Pricing Strategies & Tactics 6. Setting an initially high price to cover new product costs is called: A. Price Skimming B. Penetration Pricing C. Psychological Pricing D. Discount Pricing 7. Setting a low price to establish a new product in the market is known as: A. Price Skimming B. Penetration Pricing C. Psychological Pricing D. Discount Pricing 8. Which pricing tactic takes advantage of the fact that consumers do not respond rationally to stated prices? A. Price Skimming B. Penetration Pricing C. Psychological Pricing D. Discount Pricing 9. Which of the following refers to a price reduction offered as an incentive to purchase? A. Odd-Even Pricing B. Psychological Pricing C. Discount D. Premium 10. What are the three options for pricing existing products? A. Above market prices, Below market prices, At market prices B. Price Skimming, Penetration Pricing, Psychological Pricing C. Introduction, Growth, Maturity D. Product Extension, Product Adaptation, Reintroduction Branding & Distribution 11. The process of using symbols to communicate the qualities of a product is called: A. Product Extension B. Product Adaptation C. Branding D. Pricing 12. The combination of distribution channels by which a firm gets its products to end users is called: A. Direct Channel B. Distribution Mix C. Retail Distribution D. Wholesale Distribution 13. Which intermediary sells products directly to consumers? A. Wholesaler B. Agent C. Broker D. Retailer 14. Which type of intermediary helps to distribute a product but does not take title to it? A. Wholesaler B. Broker C. Agent D. Retailer 15. The network of interdependent companies through which a product passes from producer to end user is known as: A. Distribution Mix B. Direct Channel C. Distribution Channel D. Retail Distribution Retail & Nonstore Retailing 16. Form of nonstore retailing that uses the Internet to display products: A. Telemarketing B. Direct Selling C. E-catalog D. Trade Show 17. Which of the following is a form of nonstore retailing typified by door-to-door sales? A. Telemarketing B. Direct Selling C. E-catalog D. Trade Show 18. Nonstore retailing in which information about products is connected to consumers' computers: A. Telemarketing B. Direct Selling C. Online Retailing D. Trade Show 19. Collection of virtual storefronts representing a variety of products on the Internet: A. E-catalog B. Electronic Storefront C. Cybermall D. Video Retailing 20. Video retailing refers to: A. Retailing products via home television B. Selling products door-to-door C. Online retailing with video advertisements D. Telemarketing Personal Selling & Sales Promotions 21. Primary objective of Personal Selling: A. Increasing market share B. Communicating one-on-one with potential customers C. Setting high prices to cover costs D. Using symbols to communicate product qualities 22. Personal-selling task in which salespeople try to persuade buyers by providing information about product benefits: A. Order Processing B. Creative Selling C. Missionary Selling D. Industrial Selling 23. Sales-promotion technique involving certificates entitling buyers to reduced prices: A. Premium B. Loyalty Programs C. Coupon D. Point-of-Sale Display 24. Sales-promotion technique in which frequent customers are rewarded for repeat purchases: A. Premium B. Loyalty Programs C. Coupon D. Point-of-Sale Display 25. Short-term promotional activity designed to encourage consumer buying or industrial sales: A. Advertising B. Publicity C. Sales Promotion D. Public Relations Publicity & Public Relations 26. Company-influenced information directed at building goodwill with the public or dealing with unfavorable events: A. Publicity B. Advertising C. Public Relations D. Sales Promotion 27. Promotional tool involving paid, nonpersonal communication to inform an audience about a product: A. Publicity B. Advertising C. Public Relations D. Sales Promotion 28. Combining tools used to promote a product: A. Media Mix B. Advertising Media C. Promotional Mix D. Pricing Mix 29. Company-influenced information transmitted by the general mass media to attract public attention: A. Publicity B. Advertising C. Public Relations D. Sales Promotion 30. Combining different advertising media to carry a message about a product: A. Promotional Mix B. Media Mix C. Advertising Media D. Sales Promotion Product Life Cycle & Product Extension (continued) 31. Which of the following stages involves reviving obsolete or older products for new markets? A. Introduction B. Product Adaptation C. Reintroduction D. Decline 32. Which term is used for modifying an existing product for greater appeal in different countries? A. Product Extension B. Product Adaptation C. Reintroduction D. Branding 33. Marketing an existing product globally instead of just domestically is known as: A. Product Extension B. Product Adaptation C. Reintroduction D. Product Differentiation Pricing Strategies & Tactics (continued) 34. What is Price Skimming? A. Setting an initially high price to cover new product costs B. Setting an initially low price to establish a new product C. Using consumer's irrational responses to prices D. Offering price reductions as an incentive to purchase 35. Penetration Pricing involves: A. Setting a high initial price to cover costs B. Setting a low initial price to enter a market C. Offering discounts as an incentive to purchase D. Setting odd-even prices to attract buyers 36. Psychological Pricing is based on the idea that: A. Consumers prefer even dollar amounts B. Consumers don't always respond rationally to stated prices C. Price reductions encourage purchases D. Low prices increase market share 37. Odd-Even Pricing assumes customers prefer: A. Odd prices over even prices B. Even prices over odd prices C. Whole dollar amounts D. Discounted prices 38. Offering a price reduction as an incentive to purchase is known as: A. Price Skimming B. Penetration Pricing C. Psychological Pricing D. Discount Branding & Distribution (continued) 39. The process of using symbols to communicate product qualities is called: A. Product Extension B. Product Adaptation C. Branding D. Reintroduction 40. Which term describes the combination of distribution channels to reach end users? A. Direct Channel B. Distribution Mix C. Retail Distribution D. Wholesale Distribution 41. Intermediaries that sell products directly to consumers are called: A. Wholesalers B. Agents C. Brokers D. Retailers 42. Intermediaries who help distribute products without taking title to them are: A. Wholesalers B. Brokers C. Agents D. Retailers 43. The network through which products pass from producer to end user is known as: A. Distribution Mix B. Direct Channel C. Distribution Channel D. Retail Distribution Retail & Nonstore Retailing (continued) 44. Using the Internet to display products is a form of: A. Telemarketing B. Direct Selling C. E-catalog D. Trade Show 45. Which nonstore retailing involves selling door-to-door? A. Telemarketing B. Direct Selling C. Online Retailing D. Trade Show 56. Connecting information about products to consumers' computers is called: A. Telemarketing B. Direct Selling C. Online Retailing D. Video Retailing 47. A collection of virtual storefronts representing various products online is called a: A. E-catalog B. Electronic Storefront C. Cybermall D. Video Retailing 48. Nonstore retailing to consumers via home television is known as: A. Video Retailing B. Telemarketing C. E-catalog D. Direct Selling Personal Selling & Sales Promotions (continued) 49. The primary objective of Personal Selling is: A. Increasing market share B. Communicating one-on-one with potential customers C. Setting high prices to cover costs D. Using symbols to communicate product qualities 50. Personal-selling where salespeople persuade buyers about product benefits is called: A. Order Processing B. Creative Selling C. Missionary Selling D. Industrial Selling 51. Certificates entitling buyers to reduced prices are called: A. Premium B. Loyalty Programs C. Coupon D. Point-of-Sale Display 52. Rewarding frequent customers for repeat purchases is known as: A. Premium B. Loyalty Programs C. Coupon D. Point-of-Sale Display 53. Short-term activities to encourage buying or sales cooperation are known as: A. Advertising B. Publicity C. Sales Promotion D. Public Relations Publicity & Public Relations (continued) 54. Information directed at building goodwill or dealing with negative events is called: A. Publicity B. Advertising C. Public Relations D. Sales Promotion 55. Paid, nonpersonal communication to inform an audience about a product is: A. Publicity B. Advertising C. Public Relations D. Sales Promotion 56. Combining tools used to promote a product is known as: A. Media Mix B. Advertising Media C. Promotional Mix D. Pricing Mix 57. Company-influenced information attracting public attention is called: A. Publicity B. Advertising C. Public Relations D. Sales Promotion 58. Combining different media to carry a product message is called: A. Promotional Mix B. Media Mix C. Advertising Media D. Sales Promotion More Questions... 59. Which of the following is involved in setting prices for products? A. Branding B. Pricing C. Distribution D. Retailing 60. What does profit-maximizing mean in pricing objectives? A. Setting the highest possible price B. Increasing market share C. Setting prices to maximize profits D. Offering discounts to boost sales 61.Which pricing objective involves capturing the largest market share? A. Profit-maximizing B. Market share C. Penetration pricing D. Discount pricing 62. Direct Channel involves products traveling from producer to: A. Wholesaler B. Retailer C. Consumer D. Agent 63. An intermediary that buys products from manufacturers for resale is called: A. Agent B. Wholesaler C. Broker D. Retailer 64. Intermediaries that relieve space problems by storing merchandise are: A. Retailers B. Wholesalers C. Agents D. Brokers 65. Combining a seller's message with various communication devices is the: A. Media Mix B. Advertising Media C. Promotional Mix D. Pricing Mix 66. Long-term relationships with producers to meet customer needs are established by: A. Brokers B. Sales Agents C. Retailers D. Wholesalers 67. Which of the following is used for products passing through multiple intermediaries? A. Direct Channel B. Distribution Mix C. Distribution Channel D. Retail Distribution 68. Which of the following is NOT a distribution channel? A. Direct Distribution B. Retail Distribution C. Wholesale Distribution D. Consumer Distribution 69. Which pricing tactic is characterized by whole dollar amounts? A. Odd-Even Pricing B. Discount Pricing C. Price Skimming D. Psychological Pricing 70. Price Skimming is suitable for: A. Highly competitive markets B. New and innovative products C. Products with low demand D. Discounted products 71. Offering free or reduced-price items to stimulate purchases is called: A. Coupon B. Loyalty Program C. Point-of-Sale Display D. Premium 72. A short-term promotional activity designed to encourage buying is: A. Advertising B. Publicity C. Sales Promotion D. Public Relations 73. A sales-promotion technique involving a certificate for a reduced price: A. Coupon B. Premium C. Loyalty Program D. Point-of-Sale Display 74. Offering free or reduced-price items to stimulate purchases is called: A. Coupon B. Loyalty Program C. Point-of-Sale Display D. Premium 75. A short-term promotional activity designed to encourage buying is: A. Advertising B. Publicity C. Sales Promotion D. Public Relations 76. Sales-promotion techniques in which frequent customers are rewarded for repeat purchases are called: A. Coupon B. Premium C. Loyalty Programs D. Point-of-Sale Display 77. Nonstore retailing where products are sold via home television: A. Telemarketing B. Direct Selling C. Video Retailing D. E-catalog 78. Personal-selling task involving receiving and handling orders: A. Creative Selling B. Order Processing C. Missionary Selling D. Industrial Selling 79. Advertising tool involving paid, nonpersonal communication used by an identified sponsor: A. Publicity B. Public Relations C. Advertising D. Sales Promotion 80. Company-influenced information aimed at building goodwill with the public is: A. Publicity B. Public Relations C. Advertising D. Sales Promotion 81. The combination of tools used to promote a product is known as: A. Media Mix B. Advertising Media C. Promotional Mix D. Pricing Mix 82. Promotional tool involving one-on-one communication with potential customers: A. Advertising B. Personal Selling C. Publicity D. Sales Promotion 83. Sales-promotion technique involving product displays in certain areas: A. Coupon B. Premium C. Loyalty Programs D. Point-of-Sale Display 84. Form of nonstore retailing using the telephone to sell directly to consumers: A. Telemarketing B. Direct Selling C. E-catalog D. Video Retailing 85. Nonstore retailing in which information about products is connected to consumers' computers: A. Telemarketing B. Direct Selling C. Online Retailing D. Video Retailing 86. Sales-promotion technique in which various members of an industry gather to display and sell products: A. Coupon B. Premium C. Trade Show D. Point-of-Sale Display 87. Pricing objective aiming to capture the largest market share: A. Profit-maximizing B. Market Share C. Penetration Pricing D. Discount Pricing 88.Which intermediary buys products from manufacturers for resale: A. Agent B. Wholesaler C. Broker D. Retailer 89. Sales promotion designed to encourage industrial sales or cooperation from distributors: A. Advertising B. Publicity C. Sales Promotion D. Public Relations 90. Sales-promotion technique involving a price reduction as an incentive to purchase: A. Price Skimming B. Penetration Pricing C. Psychological Pricing D. Discount 91. Nonstore retailing typified by door-to-door sales: A. Telemarketing B. Direct Selling C. Online Retailing D. Video Retailing 92. Network of interdependent companies through which a product passes from producer to end user: A. Distribution Mix B. Direct Channel C. Distribution Channel D. Retail Distribution 93. An independent intermediary who matches numerous sellers and buyers is called a: A. Sales Agent B. Broker C. Wholesaler D. Retailer 94. Combination of advertising media chosen to carry a message about a product: A. Media Mix B. Advertising Media C. Promotional Mix D. Pricing Mix 95. Selling products to other businesses, either for manufacturing or for resale: A. Retail Selling B. Industrial Selling C. Order Processing D. Creative Selling 96. An intermediary who sells products directly to consumers is a: A. Wholesaler B. Agent C. Broker D. Retailer 97. Establishing long-term relationships with producers to meet customer needs is the role of a: A. Broker B. Sales Agent C. Retailer D. Wholesaler 98. A collection of virtual storefronts representing various products online is called a: A. E-catalog B. Electronic Storefront C. Cybermall D. Video Retailing 99. Paid, nonpersonal communication to inform an audience about a product is: A. Publicity B. Advertising C. Public Relations D. Sales Promotion 100.Form of nonstore retailing using home television to sell directly to consumers: A. Video Retailing B. Telemarketing C. Online Retailing D. Direct Selling ANSWERS: 1. C 2. C 3. C 4. C 5. B 6. A 7. B 8. C 9. C 10. A 11. C 12. B 13. D 14. C 15. C 16. C 17. B 18. C 19. C 20. A 21. B 22. B 23. C 24. B 25. C 26. C 27. B 28. C 29. A 30. B 31. C 32. B 33. A 34. A 35. B 36. B 37. A 38. D 39. C 40. B 41. D 42. B 43. C 44. C 45. B 46. C 47. C 48. A 49. B 50. B 51. C 52. B 53. C 54. C 55. B 56. C 57. A 58. B 59. B 60. C 61. B 62. C 63. B 64. B 65. C 66. D 67. C 68. D 69. A 70. B 71. D 72. C 73. A 74. D 75. C 76. C 77. C 78. B 79. C 80. B 81. C 82. B 83. D 84. A 85. C 86. C 87. B 88. B 89. C 90. D 91. B 92. C 93. B 94. A 95. B 96. D 97. D 98. C 99. B 100. A