Test Questions Flashcards
The single most important idea the company hopes to convey to its target audience about a product
core message
Occurs when the role of an intermediary is taken over by manufacturers upstream or customers downstream
disintermediation
T or F: The Federal Trade Commission is charged with investigating and penalizing advertisers who violate standards for truthful advertising
True
When you purchased your last TV, you likely spent a fair amount of time looking at different models and comparing prices before you made your purchase. Marketers categorize this purchasea as a/an _______ product
shopping
Dan works for a company that sells food service equipment from several different manufacturers to customers in Michigan, Wisconsin, Indiana, and Illinois. Dan is a _________
manufacturer’s representative
When a supermarket provides fresh, ready-to-eat dishes as an alternative to buying all of the ingredients needs to make dinner, it is creating _______ utility
form
If a television commercial encourages you to “ask your doctor” about a new prescription drug, the company is using a _____ strategy
pull
T or F: The marketing concept emphasizes building a business by generating as many sales transactions as possible
False
Eight women participated in a panel discussion on hotels and resorts. The facilitator asked the women what differentiated hotel and resort accommodations and what amenities they want in a hotel when they vacation. These women were participating in a/an ________.
focus group
When a marketing intermediary provides what customers need in a convenient place, they create ________ utility
place
Supplies such as paper towels, cleaning compounds, light bulbs, and copy paper that are used in a company’s daily operations are considered ________ items
expense
When a marketing intermediary is selling to individual consumers, it is functioning as a/an ________.
retailer
The product continuum extends from _______ to ________.
tangible; intangible
A “push strategy” is one in which the producer focuses on the ___________.
intermediaries
The Nike “swoosh” is an example of a _________.
brand mark
You can read product reviews about your intended purchase at Amazon.com and then post you own reviews after you’ve used the product. This would be an example of ______________.
social commerce
T or F: Distribution channels and marketing channels are interchangeable terms
True
The commercial for Bounty Paper Towels shows how Bounty absorbs a spill faster than the competitor’s paper towel. This is an example of ___________ advertising
comparative
Sony hired actors in different cities to approach strangers and ask them to take their picture with a new picture phone. The actors would then tell the stranger about the benefits of the new phone and encourage them to buy one for themselves. This is an example of _____________.
stealth marketing
At Grandma’s Cooking Company, a team was assigned to forecast sales, estimate costs of products, and evaluate profit projections for its new line of country-style gravies. This is the _________ stage of new product development
business analysis
Before Garden Grove Bank will loan money to Blackstone Properties to buy new snow removal equipment, it requires Blackstone to maintain a minimum amount of money on deposit at its bank for as long as the loan is outstanding. This is known as a/an _______________.
compensating balance
Cash, marketable securities, and accounts receivable would be classified as ___________ on the company’s balance sheet
current assets
Neimann Manufacturing has recently purchased a new wave soldering machine for its factory. On its balance sheet, this machine would be classified as a/an _____________
fixed asset
T or F: John has a business and he has borrowed $250,000 to purchase a building. The building has a market value of $300,000. Assuming this building is the only thing of value that the company owns, the total amount of the company’s liabilities is $50,000.
False. $250,000 liabilities, $50,000 owners equity, $300,000 assets
