Name______________________________________

Honors Marketing Final Review

1. The “four Ps” of a marketing mix are ___________________________________________________.

2. The process of classifying people who form a given market into even smaller groups is called ______________
____________________________

3. When Progresso makes Cajun gumbo soup for Louisiana and nacho cheese soup for Texas, it is practicing
___________________ segmentation.

4. “Psychographic segmentation” segments a market by looking at __________________________________

__________________________________________.

5. Major variables for segmenting a market include: _(4)________________________________

6. If a firm were to obtain information about light, medium, and heavy users of a product as a means to segment their
market, the firm would be practicing _______________ segmentation?

7. Advertising belongs to the _________________ aspect of the marketing mix.

8. Burdwick’s Menswear Store has decided to segment its market based on gender, income, and occupation.
___________________ segmentation most appropriately describes this form of segmentation.

10. __________________________ is at the core of the market concept.

11. Deciding to target several market segments and design separate offers for each is called ____________
________________________.

14. Is it true that personality, motivation, physical environment, and culture are the only influences on the
consumer decision-making model? ______

15. Reasons to purchase based on feelings, beliefs, or attitudes are __________________ motives.

16. The first step in the consumer decision-making process is _________________________.

17. Walmart offers the same goods as Target at lower prices. This is an example of ____________ competition.

18. American Eagle offers high-quality brand name items that the big discount firms do not carry. This is an
example of ___________________ competition.

20. Know the characteristics of buying convenience products (they’re bought routinely, on impulse, when
urgently needed, or brand loyalty for staples/needs).

21. Carefully arranging for a product or service to occupy a clear, distinctive, and desirable place relative to
competing products or services in the minds or target consumers are called _________________.

22. The “hierarchy of needs” comes from _________, and includes _________________________________
_______________________________________________________________________________________.
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23. The stage of the product life cycle characterized by overcapacity, intense competition, and the eventual
elimination of weaker competitors is called the ______________________.

24. If Mark pays Hershey Foods Corporation for the right to use its name on his line of T-shirts, then Mark is
using a __________________ strategy.

25. Brian and Frank sell many different varieties of products. All of the products that Brian and Frank offer
their consumers are called ______________________ (same as product mix).

26. Prior to consumption by a final consumer, the last member in an indirect distribution channel is the ______

29. Packaging Involves ______________________________________________________________________

_________________________________________________________________________________________

30. The manufacturer of the Tylenol brand of pain relievers has developed Tylenol Cold and Sinus and Tylenol
Allergy. These products are examples ________________, which is a product strategy.

31. By definition, “Price” is ____________________________________________________.

32. If a firm is using penetration pricing, the firm is most likely trying to achieve the pricing objective of _____
___________________________________

33. The type of price policy that tries to sell the top of the demand curve utilizing a high price, before aiming at
more price-sensitive consumers, is called ________________________.

34. What most accurately describes agent wholesalers? ____________________________________________

______________________________________________

36. A major reason why some shoppers are reluctant to make Internet purchases is because of _____________
_____________________________________________

38. Which of the following persuasive strategies is an advertiser using in a commercial that shows an image of a
happy couple riding in a Porsche? (Pathos, Ethos, or Logos?) __________________

39. In relation to Maslow’s hierarchy of needs, which of the needs must be fulfilled before any of the others?
__________________________

40. The manufacturing of a telephone, using various raw materials, is an example of ________ utility.

41. The first step in undertaking a marketing research project is to ____________________________.

42. What is meant by commercialization of a new product? ______________________________________

________________________________________________________________________________

44. Austin Powers is selling a new shirt to his friend for $1,000. The shirt cost Austin $400. What is his
markup? $ __________

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45. Major Disadvantages associated with the collection of primary data in the course of marketing research
include that it is _______________________________________.

47. ______________________ research seeks to find in-depth, open-ended responses.

48. Whenever the product involves a physical good, the place variable of the marketing mix requires physical
distribution. Another name for physical distribution is ________________.

49. “Pulling” a product through the distribution channel refers to ___________________________________

______________________________________________________

50. Pillsbury has a facility that is designed to move goods rather than just store them. It is a large and highly
automated facility designed to receive goods from the factory, take orders, fill them efficiently, and deliver
goods to customers quickly. What type of facility does this describe? __________________________

57. A state that exists when there is no competition because one firm controls the market for a given product is
called a ______________________.

62. When a demand curve is “inelastic,” ___________________________________________.