QUESTION 31

1. Planned obsolescence is the process of producting and offering for sale:

	a.	products that are technologically challenged
	b.	products will limited durability, such as diapers or razors
	c.	products that are defective
	d.	products that have re-useable packaging

2 points

QUESTION 32

1. The want satisfying power of a good or service is known as:

	a.	the price
	b.	its utility
	c.	the function
	d.	its attraction

2 points

QUESTION 33

1. A "marketing strategy" specifies:

	a.	creating a product with a large target market
	b.	identifing a target market and creating a marketing mix to meet the needs of that market
	c.	locating a production facility and producing goods that are popular
	d.	advertisng in the largest population areas

3 points

QUESTION 34

1. A firm's marketing mix would not include:

	a.	price
	b.	promotion
	c.	place
	d.	profit

2 points

QUESTION 35

A firm that focuses on the "marketing concept":

	a.	has little need for salespeople
	b.	focuses on self-service and mass advertising
	c.	sells products that can easily be produced
	d.	tries to determine customer needs before developing products

2 points

QUESTION 36

1. A grocery store that stays open 24 hours a day for its customers is providing which of the following marketing utilities?

	a.	form
	b.	time
	c.	place
	d.	ownership

2 points

QUESTION 37

1. Advertising is:

	a.	designing point of purchase displays and coupons
	b.	personal communication between sellers andbuyers
	c.	any paid form of non-personal presentation of products by an identified sponsor
	d.	delivery of news media information in the form of publicity

2 points

QUESTION 38

1. A "target market" is:

	a.	a group of consumers who are most willing to purchase your product
	b.	a small group of middlemen who distribute products to retailers
	c.	a small community consisting of few families
	d.	a convenient physical store location

2 points

QUESTION 39

1. Sales, coupons, buy one get one free, contests, rebates, and free samples are all examples of:

	a.	advertising
	b.	personal selling
	c.	public relations
	d.	sales promotion

2 points

QUESTION 40

1. The marketing mix is also referred to as the:

	a.	majors
	b.	four P's
	c.	end-all
	d.	marketing receipe

2 points

QUESTION 41

1. A marketing plan should include which of the following elements?

	a.	SWOT analysis andhuman resources needed
	b.	pro-forma income statements, advertising plans, and responsibilities of all business partners
	c.	production plans, distribution plans, and pricing strategies
	d.	all of the above should be included in a marketing plan

2 points

QUESTION 42

1. Standards for fairness in advertising as set by the:

	a.	Federal Trade Commission
	b.	Office of Consumer Affairs
	c.	Food and Drug Administration
	d.	Consumer Product Safety Commission

2 points

QUESTION 43

1. The marketing mix consists of:

	a.	product, place, price, promotion
	b.	products, location, advertising, price
	c.	products, price, distribution, people
	d.	products, publicity, promtions, pricing

3 points

QUESTION 44

1. SWOT analysis stands for:

	a.	Standards, Winning, Opinions and Thoughts
	b.	Strategy, Weakness, Obtaining, and Thinking
	c.	Sweet, Watermelon, Olive, Twinkies
	d.	Strengths, Weaknesses, Opportunities, Threats

3 points

QUESTION 45

1. According to the marketing concept, the number one reason for anyone to go into business is to:

	a.	make profit
	b.	create new products for the world
	c.	provide jobs for people
	d.	meet unmet consumer needs