1. Johnston is an insurance salesman who has just obtained a commitment from Sophia. Sophia has agreed to purchase an auto insurance package policy providing $1 million in liability coverage. What is Johnston's next stage in the selling process?
| | | A) | following up with Sophia | |
| | | B) | handling Sophia's objections | |
| | |
| | |
2. What is another term for flexible pricing?
3. Charlie has developed a product that can be targeted to only professional hockey players. Which of the following is an example of the strategy Charlie is using?
| | | A) | differentiated marketing | |
| | |
| | | C) | undifferentiated marketing | |
| | | D) | multisegment marketing | |
4. Which of the following is **NOT** a major problem of exclusive distribution?
5. Steve wants to develop a marketing mix strategy but he is having a tough time understanding what qualifies for a demographic segmentation. Which of the following falls under demographic segmentation?
| | | A) | psychographic segmentation | |
| | |
| | | C) | personality segmentation | |
| | | D) | family life-cycle segmentation | |
6. Which of the following best defines exchange?
| | | A) | a customer who gives the product away | |
| | | B) | a customer who wants to purchase a product | |
| | | C) | a customer who has the product | |
| | | D) | a customer who needs to purchase a product | |
7. A framework that sets a price for a product and the future direction for price changes throughout the product life cycle best defines which of the following?
| | |
| | | B) | introductory pricing approach | |
| | |
| | | D) | product life cycle price objective | |
