Business And FinanceBusiness example #44817
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Business example #44817

Quintrell Flores avatar Quintrell Flores
3 October 2023
4.4 (236 reviews)
25 test answers

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question
Which of the following statements about marketing is most accurate?
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Marketers recognize the need to learn as much as possible about customers and do everything possible to satisfy them.
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A firm's marketing mix refers to
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the firm's combination of strategies dealing with product, price, place, and promotion.
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The analysis of markets to identify opportunities and to find the information needed to make good decisions is called
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marketing research
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The first step in the marketing research process is to:
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define the problem and determine the present situation
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The two different major markets are:
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The consumer market and the business-to-business market
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Which of the following is NOT one of the ways to segment the consumer market?
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photographic
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What is meant by the "total product offer"?
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Everything consumers evaluate making a buying decision
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A product mix is:
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It is the combination of all product lines.
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Which of the following best describes specialty goods?
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products with unique characteristics and brand identity, for which the consumer puts forth a special effort to obtain.
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A brand is:
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a name, symbol, or design that identifies products of a seller and distinguishes them from the products of other sellers.
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Brand equity is:
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a value of the brand name and associated symbols of the brand.
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Which of the following best describes the product life cycle?
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A theoretical model of what happens to sales and profits for a product class over time.
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Which of the following best describes cost-based pricing?
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A pricing strategy where a profit margin is added to the production cost to determine the selling price.
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Which of the following describes competition-based pricing?
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A pricing strategy for determining the selling price by setting the price based on the prices that competing businesses are charging.
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A ______ consists of the marketing intermediaries who transport and store goods as they move through their path from producer to final user.
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channel of distribution
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The difference between merchant wholesalers and agents/brokers is:
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Merchant wholesales takes title to the goods they distribute and agents/brokers do not.
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Rita Smith stocks several local supermarkets and discount stores with Luminaire Cosmetics. She sets up displays of various cosmetic products carrying the Luminaire brand name, and sells goods on consignment, sharing any profits on the sales with the retailer. Rita is a:
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rack jobber
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Producers of all the following goods are likely to rely on intensive distribution, except the producers of:
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LED hign definition TV sets
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Supply-chain management is:
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the process of managing the movement of raw materials, parts, work in progress, finished goods, and related information through all organizations involved in the supply chain.
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Logistics is:
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the planning, implementing, and controlling of the physical flow of materials, final goods, and related information from points of origin to points of consumption.
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Which transportation mode would most likely be used for shipping natural gas, coal slurry, crude oil, and jet fuel?
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pipeline
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All of the following are components of an organization's product mix except:
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production processes
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Paid, nonpersonal messages communicated through various media by organizations and individuals who are in some way identified in the message is referred to as:
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advertising
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Using displays, shows, exhibitions, or contests to stimulate consumers to purchase a good od service is called:
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sales promotion
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The DC office of travel and tourism promotes tourism in the county by sending travel agents and bus companies information about the county's many attractions. This example represents a ______ promotional strategy.
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push