Question 1

Building and maintaining an effective supply chain network requires cooperation from only those in the organization.

Accepted Answer

A) True 
 B)False  False

Question 2

Personal selling is very effective for companies that sell their products through an online store.

Accepted Answer

A) True 
 B)False  False

Question 3

Your choice of where you advertise depends on only one factor: your product.

Accepted Answer

A) True 
 B)False  False

Question 4

With penetration pricing, a company would initially charge a low price on a product to "get its foot in the door." Over time, this approach will encourage others to enter the market.

Accepted Answer

A) True 
 B)False

Question 5

When a manufacturer of digital video recorders initially charged a high price but later dropped the price after others entered the market, it was practicing which pricing method?

Accepted Answer

A)  Cost-based pricing
B)  Target costing
C)  Skimming pricing
D)  Penetration pricing

Question 6

During the _____ stage of the product life cycle, advertising costs will go up.

Accepted Answer

A)  maturity
B)  decline
C)  constancy
D)  growth

Question 7

When you are wondering if you picked the right college to attend, you are in the evaluation step in the buying process.

Accepted Answer

A) True 
 B)False

Question 8

Marketing is just advertising and selling.

Accepted Answer

A) True 
 B)False

Question 9

_____ is not one of the steps in the consumer buying process.

Accepted Answer

A)  Need recognition
B)  Evaluation
C)  Postpurchase evaluation
D)  Postpurchase recrimination

Question 10

Over the last few decades, the workforce has become more diverse.

Accepted Answer

A) True 
 B)False

Question 11

_____ is not among the groups into which marketers divide most Americans born in the last 70 years.

Accepted Answer

A)  Baby boomers (born 1946 to 1964) 
B)  Generation X (born 1965 to 1975) 
C)  Generation Y Millennials (born 1976 to 2001) 
D)  Generation Z (around 2,000 to )

Question 12

Describe the baby?boom generation.

Accepted Answer

The answer of Describe the baby?boom generation....

Question 13

A(n) _____ is a wholesaler or retailer who helps move products from their original sources to end users.

Accepted Answer

A)  middleman
B)  intermediary
C)  fence
D)  distributor

Question 14

A trademark is a word, letter, sound or symbol that differentiates a product from its competitors.

Accepted Answer

A) True 
 B)False

Question 15

Advantages to companies of using social media marketing include savings of time.

Accepted Answer

A) True 
 B)False

Question 16

Even though people today are bombarded with ads, advertising is still the most prevalent form of promotion.

Accepted Answer

A) True 
 B)False

Question 17

When a company does something negative, such as selling a prescription drug with unexpected side effects, its _____ department will probably go to work to control the damage to its reputation.

Accepted Answer

A)  advertising
B)  face saving
C)  public relations
D)  defense

Question 18

Social media marketing presents companies with a number of challenges including:

Accepted Answer

A)  Reaching their target market
B)  Building brand loyalty
C)  Creating brand awareness
D)  Being overwhelmed by the large volume of customer data available on social sites.

Question 19

If you're using a product and aren't sure if you're happy with it, you're engaged in _____ evaluation.

Accepted Answer

A)  postpurchase
B)  possession
C)  purchase need
D)  utility

Question 20

When the market for it stabilizes, a product has entered the _____ stage of the product life cycle.

Accepted Answer

A)  convenience
B)  growth
C)  marginal utility
D)  maturity

Exam 10: Marketing: Providing Value to Customers

Building and maintaining an effective supply chain network requires cooperation from only those in the organization.

Personal selling is very effective for companies that sell their products through an online store.

Your choice of where you advertise depends on only one factor: your product.

With penetration pricing, a company would initially charge a low price on a product to "get its foot in the door." Over time, this approach will encourage others to enter the market.

When a manufacturer of digital video recorders initially charged a high price but later dropped the price after others entered the market, it was practicing which pricing method?

During the _____ stage of the product life cycle, advertising costs will go up.

When you are wondering if you picked the right college to attend, you are in the evaluation step in the buying process.

Marketing is just advertising and selling.

_____ is not one of the steps in the consumer buying process.

Over the last few decades, the workforce has become more diverse.

_____ is not among the groups into which marketers divide most Americans born in the last 70 years.

Describe the baby?boom generation.

A(n) _____ is a wholesaler or retailer who helps move products from their original sources to end users.

A trademark is a word, letter, sound or symbol that differentiates a product from its competitors.

Advantages to companies of using social media marketing include savings of time.

Even though people today are bombarded with ads, advertising is still the most prevalent form of promotion.

When a company does something negative, such as selling a prescription drug with unexpected side effects, its _____ department will probably go to work to control the damage to its reputation.

Social media marketing presents companies with a number of challenges including:

If you're using a product and aren't sure if you're happy with it, you're engaged in _____ evaluation.

When the market for it stabilizes, a product has entered the _____ stage of the product life cycle.