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6. The company's products are available to the public only through Greenleaf, a grocery chain with 38 stores in the country. What distribution strategy does Giant Beanstalks use?

  • d) Exclusive distribution
  • c) Extensive distribution
  • a) Selective distribution
  • b) Intensive distribution

7. A university enrolled 200 graduate students in the Autumn semester 2013. The enrolment rate was only slightly affected following a 12% hike in tuition fee. This illustrates a(n)________ demand

  • b) Negative
  • c) Inelastic
  • d) Highly elastic
  • a) Derived

8. Having gathered a great deal of information, he has finally narrowed down his choices to three systems: Waterbags for Roadies, Supertanker Hydropacks, and Fast Water. Robert is in the ________ stage of the buying decision process.

  • a) Information search
  • d) Product trial
  • c) Evaluation of alternatives
  • b) Need recognition

9. In a buying centre, the person who would be the most likely to say, "We need to limit our choices to local vendors", is _________

  • c) An influencer
  • b) The gatekeeper
  • A buyer
  • d) A user

10. ‘Target Marketing’ can be defined as:

  • A means of identifying the distinct profile of a portion of the population based upon a single characteristic
  • A means of selecting a sub-group from the larger population and directing all marketing efforts towards satisfying the needs of these people
  • b) A means of identifying sub-groups from the larger population based upon clearly identified common traits and characteristics
  • a) A means of identifying the distinct profile of a portion of the population based upon a number of characteristics

11. The percentage of a market which actually buys a specific product from a specific company is referred to as that product's __________.

  • c) Market share
  • a) Strategic segment
  • d) Market position
  • b) Target market

12. The primary benefit of database marketing is:

  • c) The enhancement of customer loyalty
  • Greater brand parity
  • b) Greater profits
  • d) Higher sales

13. Consumers today receive commercial messages from a broad range of sources. However, consumers ________ the way marketers do.

  • d) Never pay attention to sales promotions
  • b) Don't distinguish between message sources
  • c) Block out all media messages
  • a) Don't care about buzz marketing

14. Which of the following statements about break-even analysis is true?

  • It is calculated by using variable costs, the unit price, and fixed costs
  • It determines the amount of retained earnings a company will have during a given accounting period
  • b) It is used to determine how much production experience a company must have in order to achieve desired efficiencies.
  • It is a technique used to calculate fixed costs.

15. Seth Hoffman's chain of travel agencies has identified the lesbian, gay, bisexual, and transgender community as a growing market that spends an increasing percentage of its income on travel. Which of the following would be the LEAST effective

  • b) Advertise on television network aimed at gays and lesbians and their friends and family
  • d) Implement a mass marketing campaign
  • Position his agency as focused on specialised experiences
  • c) Place specially-targeted ads in gay-themed publications

16. If 50% of the population are males and 50% females and an interviewer is asked to undertake a survey outside the university on a Friday at 3.00pm selecting males and females based on this split, this is an example of:

  • Stratified random sampling
  • b) Quota sampling
  • c) Random sampling
  • d) Convenience sampling

17. A ‘Pull’ promotional strategy involves:

  • b) Communicating directly to consumers
  • c) Encouraging media owners to place your advert
  • Obtaining a client’s consent to use a specific advert
  • d) Promoting through intermediaries

18. A market in which a large proportion of customers have similar needs for a product is called a(n) ____ market.

  • c) Homogenous
  • a) Undifferentiated
  • d) Concentrated
  • b) Heterogeneous

19. In the case of services, captive product pricing is called ________ pricing

  • d) Two-part
  • c) Optional product
  • b) By-product
  • a) Segmented

20. Which of the following is true of a pure competitive market?

  • d) The advertising budget of companies
  • b) Sellers spend little time on marketing strategy.
  • c) Sellers try to develop differentiated offers for different customer segments.
  • a) A single seller has a major effect on the current and future market price.