mkt 100 quiz 3

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This quiz consists of 20 multiple choice questions and covers the material in Chapters 11 through 15. There are 4 questions per chapter.

Please write the correct answers or higlight it so I can see it clear. Thanks.

 

Question 1

 

Any human or mechanical effort that adds value to a product is called

Answer

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a service.

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an intangible.

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overhead.

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customer service.

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service marketing.

Question 2

 

A suggested approach to deleting products, in which each product is evaluated periodically to determine its impact on the overall effectiveness of the firm’s product mix, is called a(n)

Answer

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evaluation study.

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formal evaluation.

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product inspection.

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systematic review.

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reassessment examination.

Question 3

 

Questions such as “How often would you buy this product?” and “Which features are of little or no interest to you?” are often proposed during

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concept testing.

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product development.

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screening.

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idea generation.

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test marketing.

Question 4

 

Product failure is a concern of all marketers. Which of the following phases of new-product development is best able to measure this concern?

Answer

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Screening

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Concept testing

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Business analysis

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Product development

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Test marketing

Question 5

 

Price is a key element in the marketing mix because it relates directly to

Answer

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the size of the sales force.

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the speed of an exchange.

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quality controls.

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the generation of total revenue.

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brand image.

Question 6

 

At what point does a firm maximize profit?

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The point at which marginal cost equals marginal revenue

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The point at which the firm sells its product at the highest price

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The breakeven point plus the adjusted marginal cost

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The point at which marginal profits equal marginal revenue

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The point at which marginal cost equals marginal profit

Question 7

 

A marketer sometimes uses temporary price reductions to

Answer

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increase the number of competitors.

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gain market share.

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decrease volume sold.

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increase revenue per item.

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control demand.

Question 8

 

Buyers who focus on purchasing products that signify prominence and status are

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value-conscious consumers.

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price-conscious consumers.

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socially elite buyers.

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prestige-sensitive buyers.

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brand aware consumers.

Question 9

 

A firm establishes which of the following pricing objectives to maintain or increase its product’s sales in relation to total industry sales?

Answer

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Cash flow

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Sales potential

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Product quality

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Market share

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Status quo

Question 10

 

Goods that are priced primarily based on the way they have always been priced are examples of

Answer

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traditional pricing.

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professional pricing.

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everyday low prices.

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price lining.

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customary pricing.

Question 11

 

A cost-based pricing method commonly used in retail is called

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value pricing.

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cost-plus pricing.

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cost discounting.

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differential pricing.

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markup pricing.

Question 12

 

A problem associated with ____ is that consumers can predict when prices will be lowered and delay purchases until that time.

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random discounting

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penetration pricing

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reference pricing

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everyday low pricing

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periodic discounting

Question 13

 

The driving force behind marketing channel decisions should be

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convenience.

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cost reduction.

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environmental concerns.

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customer satisfaction.

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quality.

Question 14

 

When companies operate their own facilities for storing and shipping products, these facilities are known as

Answer

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distribution centers.

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product storehouses.

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public warehouses.

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megawarehouses.

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private warehouses.

Question 15

 

An independent business that takes title to products and carries inventories is a(n)

Answer

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industrial distributor.

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intermediary.

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agency.

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wholesaler.

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producer.

Question 16

 

Freight transportation companies that offer several different shipment methods are called

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megacarriers.

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intermodal transporters.

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freight forwarders.

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shipping experts.

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superfreighters.

Question 17

 

A retailer is an organization that purchases products for the purpose of reselling them to

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other retail organizations.

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the government.

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ultimate consumers.

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wholesalers.

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nonprofit organizations.

Question 18

 

An agent that receives goods on consignment from local sellers and negotiates sales in large, central markets is called a

Answer

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commission merchant.

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sales branch agent.

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selling agent.

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manufacturers’ agent.

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broker-agent.

Question 19

 

Which of the following is a common feature of a warehouse club?

Answer

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Concrete floors and wide aisles

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Wide range of products

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Good customer service

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Moderate prices

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Pleasant atmosphere

Question 20

 

Self-service, general merchandise stores such as Kmart are known as

Answer

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discount stores.

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warehouse showrooms.

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catalog showrooms.

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superstores.

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specialty retailers.

 

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