Chapter 10 Review FlashcardsMarketing
True/False10 Questions – 1 Point Each
Multiple Choice10 Questions – 1 Point Each
Matching10 Questions – 1 Point Each
Fill in the Blank5 Questions – 9 points total
Essay Questions1 Question - 11 Points Total
Question 1All businesses must complete some marketing
activities even if that is not their focus.
Question 1 - AnswerTRUE
Question 2A target market is a group of consumers that have
similar wants and needs.
Question 2 - AnswerFALSE
Question 3Effective marketing begins with a good product.
Question 3 - AnswerFALSE
Question 4Finding solutions to problems through carefully
designed studies involving consumers is called marketing research.
Question 4 - AnswerTRUE
Question 5Product packaging is the least important part of
product planning because consumers simply throw away the packaging before using the product.
Question 5 - AnswerFALSE
Question 6The first step in new product planning is to develop a
full marketing strategy.
Question 6 - AnswerFALSE
Question 7Highly complex and technical products generally have
higher prices than simple products.
Question 7 - AnswerTRUE
Question 8A markup should be thought of as a pricing mistake
because it reduces the amount of money the business has to cover operating expenses and profits.
Question 8 - AnswerFALSE
Question 9A farmer selling at a roadside stand tomatoes she
grew in her own garden is an example of a direct channel of distribution.
Question 9 - AnswerTRUE
Question 10Advertising is any form of communication used to
inform, persuade, or remind.
Question 10 - AnswerFALSE
Question 11This marketing function involves setting and
communicating the value of products and services.Financial AnalysisDistributionPricingSelling
Question 11 - AnswerPRICING
Question 12What is the first step in the consumer decision-making
process?Gather InformationSelect AlternativesEvaluate AlternativesRecognize a Need
Question 12 - AnswerRecognize a Need
Question 13A small number of consumers expressing opinions
about a new product or service in a group discussion is Target MarketFocus GroupSurvey GroupExperimental Group
Question 13 - AnswerFocus Group
Question 14The simplest form of a product is called the
Basic productBrand nameProduct featureOption
Question 14 - AnswerBasic product
Question 15Services are
Easier than products to examine to see if they will meet your needs
Consumed at the same time they are producedThe same no matter who provides themEasier than products to store
Question 15 - AnswerConsumed at the same time they are produced
Question 16A product will probably have a relatively high price
If it is hard to findIf its supply is highIf it has been on the market for a long timeIf it has many features and options
Question 16 - AnswerIf it has many features and options
Question 17Product costs + Operating expenses + Profit =
Gross marginSelling priceMarkupMarkdown
Question 17 - AnswerSelling price
Question 18Businesses usually specialize in producing a specific
type of product, while consumers want to purchase a variety of products. This illustrates differences inAssortmentQuantityLocationTiming
Question 18 - AnswerAssortment
Question 19Which of the following is an example of personalized
promotion?AdvertisingPublicityPersonal sellingSales promotion
Question 19 - AnswerPersonal selling
Question 20Non-paid promotion presented by the media rather
than by a business isTelemarketingAdvertisingSales promotionPublicity
Question 20 - AnswerPublicity
Question 21Marketing function that deals with determining the
best ways for customers to locate, obtain, and use a company’s products and services.
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
Question 21 - AnswerDistribution
Question 22Consumers who buy products and services for their
own use.
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
Question 22 - AnswerFinal Consumers
Question 23Marketing function that deals with designing and
improving products and services.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
Question 23 - AnswerProduct and Service Management
Question 24Marketing function that involves communicating
information about products and services to potential customers.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
Question 24 - AnswerPromotion
Question 25An example would be buying a birthday card for your
sister because you love her.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
Question 25 - AnswerEmotional Buying Motive
Question 26Marketing function that involves communicating
directly with potential customers to determine and satisfy their needs.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
Question 26 - AnswerSelling
Question 27Marketing function that involves budgeting for
marketing activities and providing financial assistance to customers so they can purchase goods and services.
Financial Analysis
Job Shadowing Career Internship Networking
PromotionQualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
Question 27 - AnswerFinancial Analysis
Question 28Consumers who buy products for incorporation into
other products to sell to others.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
Question 28 - AnswerBusiness Consumers
Question 29An example would be buying a certain automobile
because it gets the best gas mileage and has been rated a cost-effective purchase by a leading consumer magazine.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
Question 29 - AnswerRational Buying Motive
Question 30Marketing function that deals with obtaining,
managing, and using market information to improve business decision making.
Cover Letter Job Shadowing Career Internship Networking
Follow-Up Letter
Qualifications-Based Resume
Experience-Based Resume
Occupation Mobility
Financial Analysis
Emotional Buying Motive
SellingBusiness
ConsumersDistribution
Promotion Final ConsumersMarketing-Information Management
Rational Buying Motive
Product & Service
Management
Question 30 - AnswerMarketing-Information Management
Question 31A(n) __________ identifies how a company uses
marketing to achieve its goals.
Question 31 - AnswerMarketing Strategy
Question 32A marketing mix is the blending of four marketing
elements: (4 points)
Question 32 - AnswerProduct, Distribution, Price, and Promotion
Question 33Solving a current problem with existing information
gathered for another purpose is _____ research; studies carried out to gather new information is _____ research. (2 points)
Question 33 - AnswerSecondary, Primary
Question 34The difference between the selling price and the
product costs is _____.
Question 34 - AnswerGross margin
Question 35The exchange of information so there is common
understanding by all participants is called _____.
Question 35 - AnswerEffective communication
Complete the table with the missing values:
Question 36
ProductProduct
CostMarkup Percent
Markup Amount
Selling Price
Total Cost Net Profit
A $50 40% $80 $10
B $30 $39 $6
C $100 25% $25 $145
D 50% $30 $90 $105
E $40 $6 $46 $4
Question 36 - AnswerProduct
Product Cost
Markup Percent
Markup Amount
Selling Price
Total Cost Net Profit
A $50 40% $20 $70 $80 $10
B $30 30% $9 $39 $45 $6
C $100 25% $25 $125 $145 $20
D $60 50% $30 $90 $105 $15
E $40 15% $6 $46 $50 $4