1) ________ is an example of an unsought product.

A. pest control service

B. TV

C. coffee

D. pizza

2) Which of the following are a direct result of past advertising, promotion, product reputation, and customer experience.

A. trademarks

B. brand attributes

C. copyrights

D. brand perceptions

3) Two established brands collaborating to offer a single product or service that carries both brand names is defined as ________.

A. brand extension

B. co-branding

C. franchising

D. brand licensing

4) A company's profitability begins to rise and public awareness increases during the ________ of the product life cycle.

A. growth stage

B. market introduction stage

C. maturity stage

D. decline stage

5) Which of the following statements is TRUE?

A. the decline product life cycle stage is often the most profitable stage

B. The primary challenges during the maturity phase are to identify a differentiated position in the market that allows the product to capture a significant portion of the demand.

C. during the decline product life cycle stage, the primary focus for marketers is to transition customers to newer products that are earlier in the product life cycle and have more favorable economics

D. all products follow a smooth and predictable growth plan

6) ________ is the last stage of the new-product development process.

A. evaluation

B. business case analysis

C. marketing development

D. launch

7) ________ is an example of the "value-added element."

A. more commercials

B. targeted marketing messages

C. broad selection of sizes

D. good marketing strategy

8) Which of the following pricing strategies doesn't fully take into account the value of the product to the customer with regard to the value of competitive products?

A. product-oriented pricing

B. competitor-oriented pricing

C. consumer-oriented pricing

D. profit-oriented pricing

9) ________ is the difference between the average cost and price of all merchandise in stock as used by the middlemen.

A. gross margin

B. net margin

C. markup

D. contribution margin

10) When a customer is given a reduction in base price as the result of purchasing some predetermined amount of merchandise, the reduction is called a ________.

A. loyalty discount

B. trade discount

C. quantity discount

D. cash discount

11) The set of interdependent organizations involved in the process of making a product or service available for use or consumption, as well as providing a payment mechanism for the provider is called ________.

A. supply chain

B. the retailers association

C. the channel of distribution

D. a wholesalers network

12) Which of the following statement regarding retail channel is FALSE?

A. the retail channel is different from the direct channel in that the retailer doesn't produce the product

B. retailers may sell products through multiple channels

C. retailers may sell products online

D. the retailer markets and sells the goods on behalf of the consumer

13) Which of the following statements regarding wholesalers is FALSE?

A. wholesaler do not bear the risk for the products until they are delivered

B. wholesalers buy a very large quantity of goods and then break that quantity down into smaller lots

C. wholesalers do not produce the goods they distribute

D. wholesalers fill a role in the promotion of the products that they distribute

14) Which of the following statements regarding retailers is FALSE?

A. retailing involved all activities required to market consumer goods and services to ultimate consumers who are purchasing for individual or family needs.

B. retail sales only occur in a store setting

C. retail sales occur in stores but also happen online, through catalogs, by automatic vending machines, and in hotels and restaurants

D. retailers do not produce the goods they sell

15) What is the main focus of the marketing channel?

A. increase value to the customer by having the right product in the right place at the right price at the moment the customer wants to buy

B. decrease price to the customer by having the right product in the right place at the right price at the moment the customer wants to buy

C. decrease cost to the customer by having the right product in the right place at the right price at the moment the customer wants to buy

D. increase revenue by using advertising and deals to increase the amount that each customer spends.

16) Which of the following statements regarding marketing campaign is FALSE?

A. a marketing campaign only includes advertising

B. a theme permeates all integrated marketing communication efforts and works to unify the campaign

C. marketing campaigns can send messages across a variety of platforms

D. a campaign is a coordinated series of marketing communication efforts built around a single theme designed to reach a particular goal

17) Your friend Mark just started a new job at Gerald's Car Repair. The owner asked your friend to think about the shop's promotion mix and come up with some new ideas. Mark is not sure what he needs to do. Can you help Mark?

A. yes, tell Mark to interview his customers to find out what types o new products he should offer

B. yes, tell Mark to speak to the shop's parts suppliers and make sure Gerald's Car Repair is getting the best promotional prices possible

C. yes, tell Mark to take a look at the financial records for the company and determine if the company can spend more money on different types of aftermarket items so they have a better mix of services available to their customers.

D. yes, tell Mark to consider the shops current advertising, public relations efforts and digital marketing and make suggestions for improvements and additions.

18) Jay Conrad Levinson coined a term for a relatively new marketing strategy that relies on unconventional, often low-cost tactics to create awareness of and goodwill toward a brand, product, service, or even a company. What is the term for this strategy?

A. guerrilla marketing

B. internet marketing

C. social media marketing

D. email marketing

19) A company using a coordinated message in advertising, direct marketing and digital marketing materials is an example of:

A. a company using IMC to support their marketing efforts

B. a company using marketing tools to learn about their customers

C. a company conducting a direct marketing campaign

D. a company implementing strategies to upsell customers