Badm-134 Business Organization & Management



Badm-134 Business Organization & Management

TEST 5 Chap. 14 - 16

50 Points

Bring a #2 pencil to record your answers. There is a total of 50 questions.

|1. |The concepts of product lines and product mixes apply to marketers of products and services. |

|2. |Industrial goods are sold in the B2B market. |

|3. |One common way of classifying consumer goods is based on consumer purchasing behavior. |

|4. |A pickup truck can be classified as either a consumer or an industrial good. |

|5. |Brand names can significantly impact consumer perceptions of a product. |

|6. |Product testing is designed to reduce the number of new product ideas that a firm works on at any one time. |

|7. |The product life cycle presents a theoretical model describing what happens to sales and profits for a class of products over |

| |time. |

|8. |Some goods have a product life cycle that is completed in a shorter amount of time than other goods. |

|9. |Consumer perceptions of product quality are affected by promotions and packaging, but not by the price of the product. |

|10. |Retailers and wholesalers are two major types of marketing intermediaries. |

|11. |To marketers, the term utility refers to the value added to goods or services by organizations when they make the product more |

| |useful or accessible to consumers. |

|12. |Providing buyers with credit terms such as "90 days same as cash" is a way marketing intermediaries can provide time utility to|

| |customers. |

|13. |The best way to reduce the cost of goods is to eliminate marketing intermediaries from the distribution channel. |

|14. |A retail sale is a sale to a consumer for his or her own use. |

|15. |The sale of goods to a business that is purchasing the items for resale is a wholesale sale. |

|16. |The use of multiple modes of transportation to complete a single long-distance movement of freight is known as multi-carrier |

| |shipping. |

|17. |Integrated marketing communication simplifies the marketing process by replacing personal selling with extensive use of |

| |advertising to create a positive brand image. |

|18. |The last step in creating a promotional campaign is to evaluate the effectiveness of each element of the promotional mix. |

|19. |When a manufacturer advertises to wholesalers and retailers in an attempt to encourage them to carry its products, it is |

| |engaging in institutional advertising. |

|20. |When it comes to reaching global markets, evidence supports the conclusion that the “one size fits all” approach to promotional|

| |mix design is best. |

|21. |Compared to advertising, publicity offers a firm greater control over when and how often the message is communicated. |

|22. |Creating a unified image of a company in the public's mind is the end result of an effective integrated marketing communication|

| |system. |

|23. |Advertising the newest Terminator movie during a Saturday Night Live episode on TV represents a pull strategy. |

|50. |Successful businesses constantly monitor consumer wants and needs. |

|24. |The combination of all the factors that consumers evaluate when deciding whether or not to buy a good or service is called a: |

|25. |The combination of product lines offered by a manufacturer is called the firm's: |

|26. |The Procter & Gamble Company is a major producer of bar soaps. In fact, Procter & Gamble produces Ivory, Camay, Lava, |

| |Safeguard, Zest, and Coast bar soaps that all claim a variety of benefits. These products are of Proctor & Gamble's _____ in |

| |bar soaps. |

|27. |The purpose of __________ is to create real or perceived product differences. |

|28. |Products that are used in the production of other goods and services are called ________ goods. |

|29. |All of the following are benefits of a brand name for a buyer except: |

|30. |Brand __________ refers to the loyalty, perceived quality, and emotions people associate with a given brand name. |

|31. |Sears sells batteries under its own Diehard brand name even though another company actually produces these batteries. This is |

| |an example of a: |

|32. |The job performed by brand managers: |

|33. |The product life cycle model helps marketers realize that: |

|34. |When reviewing the product life cycle model, it is important to remember that: |

|35. |At the break-even point: |

|36. |Which of the following represents a pricing strategy that establishes a low price in hopes of attracting a great number of |

| |customers and attempts to discourage competitors? |

|37. |A(n) ____________ consists of the marketing intermediaries that transport and store goods as they move through their path from |

| |producer to final user. |

|38. |Marketing intermediaries: |

|39. |Stores that remain open 24 hours a day, seven days a week are providing _________ utility to their customers. |

|40. |Taken together, all of the organizations that move goods from the sources of raw materials to ultimate consumers is known as |

| |a(n): |

|41. |_____ is the value or want-satisfying ability that is added to products by organizations that make the product more useful or |

| |accessible to consumers. |

|42. |_________ involves planning, implementing, and controlling the physical flow of materials, final goods, and related information|

| |from points of origin to points of consumption to meet customer requirements at a profit. |

|43. |The traditional promotion mix for a firm consists of the: |

|44. |Firms with a limited advertising budget would least likely use ________ advertising. |

|45. |________ refers to the face-to-face presentation and promotion of products and services. This also includes searching for |

| |prospects and providing follow-up services. |

|46. |The promotional tool that stimulates consumer purchasing and dealer interest by means of short-term activities, such as trade |

| |shows, samples, and contests, is known as: |

|47. |Effective sales promotion activities target: |

|48. |The strategy of directing advertising and sales promotion toward consumers to stimulate them to request the products from their|

| |local retailers is called a: |

|49. |The use of promotional tools to persuade wholesalers and retailers to stock and sell merchandise represents a: |

| |See after question #23 for question 50. |

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