Marketing Quiz

Question 1 (10 points)

Business transaction in a free market economy involves:

Question 1 options:

An exchange in which price serves as a measure of quality.

A loss of consumer surplus.

An exchange of money – the money being the Price – for something of value.

An exchange at a list price.

“Dumping.”

Question 2 (10 points)

The World Trade Organization (WTO) is:

Question 2 options:

The U.S. agency that coordinates payments for countries in the Western Hemisphere.

None of the above

A clearing house for orders of high tech, highly dangerous products from G-7 countries.

The only global international organization focused on negotiating the rules of trade between nations.

A training organization for lesser developed nations seeking to normalize financial agreements.

Question 3 (10 points)

The marketing mix variable Price is focused on:

Question 3 options:

To whom and when discounts and allowances will be given.

How transportation costs will be handled.

How flexible prices will be.

At what level prices will be set over the product life cycle.

All the above.

Question 4 (10 points)

That’s My Baby produces very high quality car seats and strollers. Their social media manager is launching a campaign to get new moms to post pictures of their kids using the products and swap stories with other moms. This is an example of what type of social media marketing?

Question 4 options:

Direct content

Earned content

Direct socialization

Social interaction

User generated content

Question 5 (10 points)

Target has a very sophisticated inventory management system that tracks every purchase, manages the reordering from the supplier and tracks the shipment on its way to the stores. What part of marketing best describes this?

Question 5 options:

Upstream marketing

Process

Customer orientation marketing

Supply chain management

Service marketing

Question 6 (10 points)

Which of these is typically a characteristic of a sales promotion?

Question 6 options:

It is a key part of social media marketing

The consumer does not have to buy the product to benefit from the offer

It requires the consumer to act on the offer in a fixed time

It is advertised via e-media

Question 7 (10 points)

The Marketing Concept today is about what?

Question 7 options:

Aggressive advertising

Sales

Price

Relationships

Question 8 (10 points)

Which of these is NOT part of the SMART model

Question 8 options:

Time

Achievable

Reliable

Measurable

Specific

They all are.

Question 9 (10 points)

How would you define marketing?

Question 9 options:

D) Marketing is the ability to be clever so businesses can persuade and motivate consumers to enter into a sales transaction.

B) Distribution of advertising so consumers can make buying decisions.

A) The process of planning and executing the conception, pricing, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individuals and organizations.

C) The ability to underprice the competitor and generate revenue.

Question 10 (10 points)

Which of the following is NOT an element which might be offered to final consumers in the price equation?

Question 10 options:

Credit

Packaging

Repair facilities

Stocking allowance.

Service

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