Part one
1)
Regional K-Mart stores are selling a specific shirt for $9.99. This method was selected because store managers believe that customers react better to these types of prices. This type of pricing may be categorized as:
price leveling
price discrimination
odd-even pricing
prestige pricing
bait pricing
2)
Which of the following is not a marketing objective?
product objectives
price objectives
channels of distribution objectives
promotion objectives
technical design objectives
3)
Which of the following acts deals with deceptive advertising, selling practices, and deceptive pricing?
The Federal Trade Commission Act
The Clayton Act
The Sherman Anti-Trust Act
The Anti-Advertising Act
The Magnuson-Moss Act
4)
The use of a name, term, symbol, design, or a combination thereof that may or may not be registered is called:
a brand name
a brand
a trademark
a copyright
a patent
5)
Packaging includes:
protection
product identification
containment
promotion
All of the above
6)
Which of the following are products used to produce other products?
Specialty goods
Convenience products
Emergency goods
Industrial products
Consumer products
7)
When a consumer experiences cognitive dissonance, they:
may seek additional information to confirm their decision.
may be experiencing uncertainty about their purchase decision.
may purchase another product next time.
may have doubts that lead to tension.
All of the above.
8)
Transportation provides which of the following utilities?
possession utility
place utility
time utility
1 and 2
None of the above
9)
Which of the following is not a step in the five-step marketing research process?
Problem definition
Interpreting the data
Solving the problem
Analyzing the solution
Writing the proposal
10)
A majority of small companies
may use outside research specialists
depend on sales people or managers to conduct the research they do
usually do not have separate marketing departments
can afford a reliable and dependable marketing information system
All of the above
11)
Which of the following is not part of the marketing mix?
promotion
price
planning
product
channels of distribution
12)
Reciprocity means
you buy my product and I'll buy yours
I'll buy from you no matter what
either buy from me or I'll ruin your product's name
buy from me and I'll give you a discount
None of the above
13)
When designing a research study, the researcher must make sure that the study actually measures what it is supposed to. This is known as:
sampling
reliability
observation
validity
continuous study
14)
Which of the following is the worst choice when transporting a product such as stones?
truck
rail
air
water
All of the above are poor choices
15)
Failure of a new product is usually caused by all the following except:
poor timing
bad execution of the marketing mix
existence of "protocol"
too small of a target market
poor promotion and display
16)
John wants to figure out the mark down of a desk he is selling for $100.00 with a marked down dollar amount of $31.00. What percentage would he come up with?
3.7%
15%
17%
28%
31%
17)
What is the cost at retail of a product that sells for $400.00 and has a markdown percent of 40%?
$120.00
$180.00
$240.00
$300.00
$360.00
18)
Wal-Mart's buying office just purchased leather belts for $30.00 each. They want a 20% markup at retail on the belts. What retail price should they charge?
$35.00
$36.50
$37.50
$39.00
The price cannot be determined
19)
What is the markup percent based on cost, when the cost is $1,000.00 and the markup is $500.00?
25%
50%
75%
100%
33.3%
20)
Suzanne wants to start giving tennis lessons to children, and needs to determine the cost in selling price she should charge for lessons. Her friend told her that the markup percent on cost should be 15% and that the amount of markup should be $17.00. What is her cost in selling price?
cost = $100.00; selling price = $25.00
cost = $100.00; selling price = $48.55
cost = $13.00; selling price = $38.00
cost = $113.33; selling price = $130.33
cost = $113.33; selling price = $166.66
Answers
1) odd even pricing
2) channels od distributuion objectives
3) the federal trade comission act
4) a brand
5) all of the above
6)industrial products
7) all of the above
8) 1 and 2
9) intrerpreting data, writing proposal
10) all of the above
11) planning
12) you buy my product and ill buy yours
13) validity
14) air
15) existince of “protocol”
16) 31%
17) $240
18) 37.50
19) 50%
20) cost = $113.33; selling price = $130.33
Regional K-Mart stores are selling a specific shirt for $9.99. This method was selected because store managers believe that customers react better to these types of prices. This type of pricing may be categorized as:
price leveling
price discrimination
odd-even pricing
prestige pricing
bait pricing
2)
Which of the following is not a marketing objective?
product objectives
price objectives
channels of distribution objectives
promotion objectives
technical design objectives
3)
Which of the following acts deals with deceptive advertising, selling practices, and deceptive pricing?
The Federal Trade Commission Act
The Clayton Act
The Sherman Anti-Trust Act
The Anti-Advertising Act
The Magnuson-Moss Act
4)
The use of a name, term, symbol, design, or a combination thereof that may or may not be registered is called:
a brand name
a brand
a trademark
a copyright
a patent
5)
Packaging includes:
protection
product identification
containment
promotion
All of the above
6)
Which of the following are products used to produce other products?
Specialty goods
Convenience products
Emergency goods
Industrial products
Consumer products
7)
When a consumer experiences cognitive dissonance, they:
may seek additional information to confirm their decision.
may be experiencing uncertainty about their purchase decision.
may purchase another product next time.
may have doubts that lead to tension.
All of the above.
8)
Transportation provides which of the following utilities?
possession utility
place utility
time utility
1 and 2
None of the above
9)
Which of the following is not a step in the five-step marketing research process?
Problem definition
Interpreting the data
Solving the problem
Analyzing the solution
Writing the proposal
10)
A majority of small companies
may use outside research specialists
depend on sales people or managers to conduct the research they do
usually do not have separate marketing departments
can afford a reliable and dependable marketing information system
All of the above
11)
Which of the following is not part of the marketing mix?
promotion
price
planning
product
channels of distribution
12)
Reciprocity means
you buy my product and I'll buy yours
I'll buy from you no matter what
either buy from me or I'll ruin your product's name
buy from me and I'll give you a discount
None of the above
13)
When designing a research study, the researcher must make sure that the study actually measures what it is supposed to. This is known as:
sampling
reliability
observation
validity
continuous study
14)
Which of the following is the worst choice when transporting a product such as stones?
truck
rail
air
water
All of the above are poor choices
15)
Failure of a new product is usually caused by all the following except:
poor timing
bad execution of the marketing mix
existence of "protocol"
too small of a target market
poor promotion and display
16)
John wants to figure out the mark down of a desk he is selling for $100.00 with a marked down dollar amount of $31.00. What percentage would he come up with?
3.7%
15%
17%
28%
31%
17)
What is the cost at retail of a product that sells for $400.00 and has a markdown percent of 40%?
$120.00
$180.00
$240.00
$300.00
$360.00
18)
Wal-Mart's buying office just purchased leather belts for $30.00 each. They want a 20% markup at retail on the belts. What retail price should they charge?
$35.00
$36.50
$37.50
$39.00
The price cannot be determined
19)
What is the markup percent based on cost, when the cost is $1,000.00 and the markup is $500.00?
25%
50%
75%
100%
33.3%
20)
Suzanne wants to start giving tennis lessons to children, and needs to determine the cost in selling price she should charge for lessons. Her friend told her that the markup percent on cost should be 15% and that the amount of markup should be $17.00. What is her cost in selling price?
cost = $100.00; selling price = $25.00
cost = $100.00; selling price = $48.55
cost = $13.00; selling price = $38.00
cost = $113.33; selling price = $130.33
cost = $113.33; selling price = $166.66
Answers
1) odd even pricing
2) channels od distributuion objectives
3) the federal trade comission act
4) a brand
5) all of the above
6)industrial products
7) all of the above
8) 1 and 2
9) intrerpreting data, writing proposal
10) all of the above
11) planning
12) you buy my product and ill buy yours
13) validity
14) air
15) existince of “protocol”
16) 31%
17) $240
18) 37.50
19) 50%
20) cost = $113.33; selling price = $130.33