quiz
Marketing (MKT3151.E1)
Assignment 2
NAME: Type your name here
DIRECTIONS
There is a total of 22 questions related to your reading and videos.
20 questions are multiple choice and are worth 4 points each.
2 questions are short answer and are worth 10 points each.
Respond to each of the questions by typing an X in the field to the left of your answer.
Please Save As this file and include your name in place of worksheet before you upload to Moodle (file should be named: MKT3151_Assignment2_LastNameFirstName.doc)
Question 1
Simply stated, marketing is really about _____________.
Increasing profits for a company.
Finding new territories to sell products.
Solving problems and creating value.
Building relationships and retaining customers.
Question 2
Businesses use promotions to _________.
Remind customers of why they may want to buy a product.
Ensure customers are aware of a product.
Persuade customers a product is better than a competitive product.
All of the above
Question 3
One of the main concerns a business may have with a deep or wide product mix is that it can result in _______.
Higher costs for promotions.
Cannibalization of sales.
Challenges finding the right retailers.
Conflicts in pricing.
Question 4
In the article about applying the marketing mix to non-profits, the authors suggested the following tactic to attract organ donors.
Provide donor testimonials that tell the story of the process.
Eliminate or quickly eliminate costs incurred for making an organ donation.
Provide the information required for transplant consideration such as blood type and other health metrics.
All of the above
Question 5
Which best describes a metered pricing plan for streaming services?
Price plan is based on a certain volume of shows to be viewed.
Price plan is based on unlimited viewing.
Price plan is based on a select line of packages to be viewed.
Price plan is based on a hybrid of a line of packages of shows and a certain volume.
Question 6
Toothpaste would be classified as a ___________ type of product.
Specialty product
Unsought product
Convenience product
Shopping product
Question 7
Which 3 key areas can a marketing team create customer value?
Personalization, Collaboration, Standardization
Interaction, Knowledge, Sustainability
Price, Product, Promotion
Exchange, Experience, Engagement
Question 8
Sandra and John are starting a business selling solar panels; what key question below will influence their distribution decisions?
Should we offer a payment plan for our product?
Should we advertise our product on social media?
Should we add the installation cost to the panel cost or price separately?
Should we sell our product direct or use intermediaries?
Question 9
Which of the following is NOT a product category for Business-to-Business (B2B)?
Installation
Accessory equipment
Consultation
Raw materials
Question 10
Price skimming requires ____________.
A high-quality product and brand image.
Setting prices below the competitors price.
A deep and wide product line.
Intermediaries to sell the product.
Question 11
Distribution is also known as ______________ in the marketing mix.
Product
Price
Promotion
Place
Question 12
Cost-based pricing is defined as ____________.
Pricing influenced mainly by competitors prices.
Pricing based on the level of demand for the product.
Pricing derived by adding a dollar amount or percentage to the cost of the product.
Pricing based on tiers of product categories.
Question 13
Direct mail can be part of a companys ____________.
Product mix
Pricing mix
Promotional mix
Distribution mix
Question 14
Setting prices below those of competing brands to gain a significant market share quickly is what type of pricing strategy?
Captive pricing
Secondary-market pricing
Customary pricing
Penetration pricing
Question 15
In the distribution marketing channel, which of the following is considered an intermediary between the producer and the consumer?
Direct seller
Wholesaler
Manufacturer
Supplier
Question 16
An unsought product is a ________________.
Good or service consumers want frequently, immediately and to buy with minimal effort.
Good or service with unique characteristics that cause buyers to prize a particular brand.
Good or service consumers buy after comparing offerings.
Good or service marketed to consumers who do not yet recognize a need for them.
Question 17
Buy one, get one free is a ___________ and part of a companys __________.
Sales promotion | promotional mix
Pricing strategy | pricing mix
Product differentiator | product mix
Placement tactic | distribution or channel mix
Question 18
Which one of the areas of the marketing mix can be changed as quickly as overnight?
Product
Price
Promotion
Place
Question 19
A vending machine is an example of which type of non-store retailing?
Direct selling
Direct-response retailing
Automatic merchandising
Internet retailing
Question 20
A key consideration that influences promotional decisions for a product is __________.
Whether or not a celebrity endorsement can be obtained.
Which stage of the product lifecycle the product is in.
How much consumers are willing to pay for a product.
All of the above
Questions 21 and 22 are short answer; 10 points each.
Question 21
Arm & Hammer has been selling baking soda for more than 100 years because they have been able to extend the lifecycle of the product by coming up with new ways to use the baking soda ranging from household tasks, cooking, cleaning, pet care and personal care.
Think of a product whose lifecycle you believe could be extended by finding new uses. Name the product and briefly describe your ideas on how the lifecycle could be extended. NOTE: brief means one or two short paragraphs is sufficient.
Question 22
In the article, Sell direct-to-consumer or through Amazon two expert and opposing views were presented:
Stephan Aarstol stated Pedalspark should sell on Amazon.
Gil Efrati stated Pedalspark should wait to sell on Amazon until they build up a more recognizable brand.
Briefly describe which view do you think is the better advice for Pedalspark and why. NOTE: brief means one or two short paragraphs is sufficient.
Please Save As this file and include your name in place of worksheet before you upload to Moodle (file should be named: MKT3151_Assignment2_LastNameFirstName.doc)
2
1
Marketing (MKT
3151
.E1)
Assignment 2
NAME:
Type your name here
DIRECTIONS
There is a total of
22
questions related to
your reading and videos
.
o
20
questions are multiple choice and are worth 4 points each.
o
2
questions are short answer and are worth
10
points each.
Respond to each of the questions by typing an X
in the field
to the left of
your answer.
Please Save As this file and include your na
me in place of worksheet before you upload to
Moodle (file should be named: MKT
3151
_Assignment
2_
LastNameFirstName.doc)
1
Marketing (MKT3151.E1)
Assignment 2
NAME: Type your name here
DIRECTIONS
There is a total of 22 questions related to your reading and videos.
o 20 questions are multiple choice and are worth 4 points each.
o 2 questions are short answer and are worth 10 points each.
Respond to each of the questions by typing an X in the field to the left of your answer.
Please Save As this file and include your name in place of worksheet before you upload to
Moodle (file should be named: MKT3151_Assignment2_LastNameFirstName.doc)
