Business 11 Quiz

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1. The term _____ refers to an organizational function d

and a set of processes for creating, communicating,
and delivering value to customers and for managing
customer relationships in ways that benefit an orga-
nization and its stakeholders.
a. utilization

b. manufacturing

c. planning

d. marketing

2. The ability of goods and services to satisfy consumer b

wants is known as _____.

a. relativity

b. utility

c. orientation

d. value

3. Which of the following illustrates form utility of goods d

or services?

a. A car maintenance shop that is located close to a

residential area

b. A grocery store that is open till late in the night

c. A company that encourages its customers to recy-

cle by printing recycling messages on its products

d. A company that uses a combination of grains and

dry fruits to produce breakfast cereal

4. b
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Which of the following illustrates time utility of goods
and services?

a. A gadget company that offers financing options to

potential buyers

b. A restaurant that is open all hours of the day and

all days of the week

c. A shop that sells customized equipment and acces-

sories for left-handed people

d. A fast food chain that has outlets located close to

college campuses

5. Which of the following is an example of place utility of b

goods and services?

a. A consumer durables store that opens early and

closes late in the night

b. ATMs located in many fuel stations

c. An e-commerce website ensuring product delivery

within 24 hours of order placement

d. A leather goods manufacturer creating luxury ac-

cessories

6. The Daley Corporation is sponsoring the Rockway b

City annual marathon. The marathon is a charitable
event to raise funds for cancer research. This is an
example of _____.
a. hard marketing

b. event marketing

c. place marketing

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d. people marketing

7. Which of the following best describes the selling era b

in the evolution of marketing?
a. Long-term relationships with customers developed
into customer advocacy for businesses

b. Supply exceeded demand which led to proactive

efforts to coax the customer into buying

c. Marketers attempted to meet customer needs bet-

ter than anything else on the market

d. Large quantities of goods were produced as effi-

ciently as possible and choices were few

8. Which of the following businesses is most likely to a

form limited relationships with its clients?

a. A large chain of restaurants

b. A luxury car manufacturer

c. An auction house

d. A yacht manufacturer

9. Which of the following businesses is most likely to a

forge full partnerships with its clients?
a. A luxury car maker

b. A multinational consumer goods manufacturer

c. A multi-specialty hospital

d. A large chain of retail outlets

10. _____ is when customers perceive that a good or a

service delivers value above and beyond their expec-
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tations.
a. Customer satisfaction

b. Customer branding

c. Customer loyalty

d. Customer orientation

11. Which of the following is an advantage of customer a

loyalty?

a. Customers sometimes pay more for the product

b. Customers do not refer the brand to strangers

c. Customers do not forgive the brand's mistakes

d. Customers give little feedback

12. Which of the following is a characteristic of a well-cho- a

sen target market?
a. The market must be reachable through channels
that a business can afford.

b. The market should consist of customers of all

ages.

c. The market should have as many competitors as

possible.

d. The market size must be very small, and contain

people willing to spend only as much as the cost of
manufacturing the product.

13. Dividing the market into smaller groups based on b

where consumers live is known as _____.
a. industrial segmentation

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b. geographic segmentation

c. psychographic segmentation

d. behavioral segmentation

14. Dividing the market into smaller groups based on c

consumer attitudes, interests, values, and lifestyles is
known as _____.
a. industrial segmentation

b. demographic segmentation

c. psychographic segmentation

d. geographic segmentation

15. Auburn, a brand of women's fashion apparel, aims c

its haute couture collection at fashion-conscious cus-
tomers who are willing to spend a lot on clothing.
Which of the following types of market segmentation
is Auburn using?
a. Industrial segmentation

b. Demographic segmentation

c. Psychographic segmentation

d. Geographic segmentation

16. Dividing the market based on how people act toward a

various products is known as _____.

a. behavioral segmentation

b. industrial segmentation

c. geographic segmentation

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d. demographic segmentation

17. The blend of marketing strategies for product, price, a

distribution, and promotion is known as the _____.
a. marketing mix

b. marketing mission

c. marketing matrix

d. marketing scope

18. Which of the following factors is a part of the product d

strategy in the marketing mix?

a. Discount pricing

b. Trade promotion

c. Warehousing

d. Customer service

19. Which of the following factors is a part of the pricing a

strategy in the marketing mix?

a. Public opinion

b. Personal selling

c. Selling outlets

d. Customer service

20. Which of the following factors is a part of the distrib- b

ution strategy in the marketing mix?

a. Product placement

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b. Warehousing

c. Customer service

d. Competition

21. Which of the following factors is a part of the promo- b

tion strategy in a marketing mix?
a. Penetration pricing

b. Product placement

c. Package design

d. Point-of-sale

22. The percentage of a market controlled by a given a

marketer is known as _____.

a. market share

b. market trend

c. market value

d. market capitalization

23. Which of the following best defines cognitive disso- b

nance?

a. Consumer rejection of a competitor's product on

the basis of preference for another

b. Consumer discomfort with a purchase decision,

typically for a higher-priced item

c. Consumer perception that a good or service deliv-

ers value beyond expectations

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d. Consumer belief that the utility of an advertised
product is low

24. Which of the following is an example of the usage of c

primary data in marketing research?

a. Nick, a media planner at Imperial Inc., buys informa-

tion about magazine circulation to determine the best
spots to advertise Imperial's products.

b. Azure Inc. studies print and TV advertisements in

Zimbabwe to understand the country's culture prior to
setting up a new distribution unit in Bulawayo.

c. Peter, a door-to-door salesman at Kurtosis Inc.,

asks people about their product preferences and uses
this information to better target his efforts.

d. Paul, a market analyst trainee at Nebula Corp.,

collects the company's past annual reports to study
them.

25. _____ is the process of gathering, interpreting, and a

applying information to uncover marketing opportu-
nities and challenges, and to make better marketing
decisions.

a. Marketing research

b. Marketing management

c. Market customization

d. Market planning

26. In marketing research, secondary data: d

a. is proprietary information.

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b. tends to be very expensive.

c. is customized and need-specific.

d. is frequently outdated.

27. Which of the following is a difference between primary c

data and secondary data?

a. Primary data is obtained at a low cost, whereas

secondary data is obtained at a high cost.

b. Primary data is frequently outdated, whereas sec-

ondary data is compiled for the first time.

c. Primary data is propriety, whereas secondary data

is available to competitors and the public.

d. Primary data is not need-specific, whereas sec-

ondary data is need-specific.

28. Marketing research that does not require the re- a

searcher to interact with the research subject is
known as _____.

a. observation research

b. primary research

c. survey research

d. experimental research

29. Marketing research that requires the researcher to a

interact with the research subject is known as _____.

a. survey research

b. secondary research

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c. observation research

d. tertiary research

30. The act of using sophisticated data collection and c

management systems to create products tailored for
individual consumers on a mass basis is known as
_____.

a. mass marketing

b. mass manufacturing

c. mass customization

d. mass production

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