1. Although practically everyone uses Colgate toothpaste, the makers of Colgate have decided to address their toothpaste to teenagers. This group therefore constitutes Colgate's

Select one:

a. penetrated market

b. served market

c. qualified market

d. available market

2. Industrial buyers see to it that the parts are not over-designed, expensive or under-designed and which may be cheaper but are likely to lessen the quality of the finished product.

Select one:

a. dependability

b. post-sales service

c. product quality

d. cost

3.This is another trait that buyers look for in their suppliers. Breakdowns in equipment can cause much loss for the manufacturer unless the equipment is repaired right away.

Select one:

a. post-sales service

b. cost

c. dependability

d. product quality

4.Served market is another name for _______________.

Select one:

a. potential market

b. qualified market

c. target market

d. penetrated market

5.It is a technique which calls for the services of consultants.

Select one:

a. expert opinion

b. survey of buyers

c. survey of sellers

d. composite of sales force

6.This has replaced price as a factor considered by buyers. The reason is faulty products can cause a lot of problems in the industrial buyers' finished products.

Select one:

a. product quality

b. cost

c. dependability

d. post-sales service

7.If there are 5 million buyers of pop music records annually and 50% of the buyers buy 2 records a year while the rest buy 4 records, the total volume of market demand is

Select one:

a. 10 million records a year

b. cannot be computed because the price is not given

c. 12 million records a year

d. none of the above is correct.

8. Industrial buyers want assurance that vendors can meet their product specifications. Also considered is the sellers' integrity in living up to service and warranty commitments.

Select one:

a. systems selling

b. dependability

c. product quality

d. vendor reliability

9. This is composed of the national government as well as local governments. This type of market generally spends billions of pesos every year to buy an assortment of products, which they need in their operations and in their work of giving service to the public.

Select one:

a. institutional market

b. target market

c. government market

d. private market

10. The set of consumers who profess some level of interest in a specific market offer.

Select one:

a. penetrated market

b. target market

c. qualified market

d. potential market

11.It collects and publishes total industry sales.

Select one:

a. potential market

b. industry's trade association

c. total demand

d. penetrated market

12.This is a major concern taken into consideration by a buyer in selecting suppliers. Meeting promised delivery dates is a very important trait.

Select one:

a. product quality

b. post-sales service

c. dependability

d. cost

13.It is used by company to make an industry forecast and finally use it to come up with a company sales forecast.

Select one:

a. expert opinion

b. economic forecasting

c. composite of sales force

d. survey of buyers

14.It is a strategy which takes the target market as all potential buyers of brands in a product category and offers them only one marketing mix.

Select one:

a. multi-segment strategy

b. mass/total market strategy

c. concentration strategy

d. psychographics strategy

15.Their purchases are always made through sealed bids.

Select one:

a. government market

b. none of the above

c. institutional market

d. industrial market

16.It is a segmentation strategy that focuses on only one segment and prepares a marketing mix for the segment.

Select one:

a. psychographics strategy

b. mass/total market strategy

c. concentration strategy

d. multi-segment strategy

17.The total market for Jollibee's hamburgers is measured by

Select one:

a. the total number of hamburgers prepared by Jollibee

b. the total number of hamburgers bought

c. the total no. of Jollibee hamburgers bought

d. the total no. of people who want to eat at Jollibee

18.These are made up of churches, schools, hospitals, religious as well as civic clubs, charitable organizations and foundations.

Select one:

a. institutional markets

b. government markets

c. target markets

d. private markets

19.It is a technique which intentions call for the interview of customers.

Select one:

a. composite of sales force

b. expert opinion

c. survey of sellers

d. survey of buyers

20.The person who first proposes that a product or service be bought.

Select one:

a. decider

b. user

c. initiator

d. influencer