Business Marketing Basics Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. There are three major categories of consumer decisions - nominal, limited, and extended - all with different levels of:

Question 2 2. What should a company consider when finding a location for their business?

Question 3 3. External influences do not include:

Question 4 4. Evaluate what are the three criteria that businesses use to make a purchase decision.

Question 5 5. Which form of survey research would be the slowest in getting responses about a store in the mall?

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Question 6 6. Analyze what customer satisfaction is.

Question 7 7. Which of the following segmentation methods is a marketing team using if they segment the market based on examining potential customers' personalities, motives and lifestyles ?

Question 8 8. Which of the following is the best definition for a market segment ?

Question 9 9. How does a large company place its SBU's on the portfolio matrix ?

Question 10 10. Explain what winning a new customer means.

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Question 11 11. Which of the following is NOT true about low involvement purchases?

Question 12 12. Crowdsourcing is:

Question 13 13. The components of a S.W.O.T. analysis do not include:

Question 14 14. Age, gender, income, race, and family life cycle all are found in _____ segmentation?

Question 15 15. Brenda's Beauty Salon offers customers a _____.

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Question 16 16. What type of market consists of a defined group most likely to buy a company's products or services?

Question 17 17. There are four philosophies companies adopt when deciding on how to create an organizational marketing process. Choose the answer that is not one of the four philosophies.

Question 18 18. Thomas owns a large IT company. He attempts to gain an upper hand in the market by using very skilled workers and inexpensive raw materials. Overall, he is very focused on controlling the costs in order to maximize the value of his products to consumers. How is this an example of cost-competitive advantage?

Question 19 19. One key way of achieving is to find new ways to use existing products.

Question 20 20. What are the five ways to segment a market?

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Question 21 21. There are five specific ways that markets can be segmented in order to create a successful sales opportunity. Choose the answer below that is incorrect.

Question 22 22. The price of a product includes _____

Question 23 23. Which of the following would be considered secondary data collection?

Question 24 24. What is the overall sacrifice a consumer is willing to make to acquire a specific product or service?

Question 25 25. Which of the following would a company do when it decides to 'harvest' a product made by an SBU?

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Question 26 26. The official definition of marketing is it is a philosophy whose main focus is providing:

Question 27 27. Marketing research is:

Question 28 28. What type of market segmentation strategy is used by Disney?

Question 29 29. Assess the importance of production orientation.

Question 30 30. For companies to successfully reach their precise customer, they need to divide a market into similar and identifiable segments through:

Business Marketing Basics Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Business 100: Intro to Business  /  Business Courses
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