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Quiz by Pa'Trice Day Owens

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40 questions
Show answers
  • Q1
    Which of the following is not an element of the marketing mix?
    Place
    Product
    All of the responses are part of the marketing mix
    Price
    30s
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  • Q2
    The normal length of time of which a marketing plan is developed is
    6 months
    One year
    3 years
    2 years
    30s
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    Delete
  • Q3
    The product life cycle concept suggests that
    there is no such thing as a new product
    both sales and profits will ultimately decline
    profits will usually be higher than sales
    sales of a product will continue to grow
    30s
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    Delete
  • Q4
    Companies emphsize promotion and price of their products in which stage of the product life cycle?
    Maturity
    Growth
    Decline
    Introduction
    30s
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  • Q5
    An example of a product in the decline stage of the life cycle is
    Cellular telephones
    phonograph records
    Notebook computers (laptop)
    Microwave Ovens
    30s
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  • Q6
    Most often, retailers sell to
    consumers
    wholesalers
    other retailers
    producers
    30s
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  • Q7
    The number and type of businesses in a channel of distribution is determined by the
    activities that need to be performed
    cost of the product
    consumer
    product assorment
    30s
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  • Q8
    Which of the following would be the shortest channel of distribution?
    producer-wholesaler-retailer-consumer
    producer-retailer-consumer
    None of the responses
    producer-consumer
    30s
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  • Q9
    A business that owns the organizations at other levels of a channel of distribution is involoved in
    channel integration
    illegal trade practices
    wholesaling
    an administered channel
    30s
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  • Q10
    Products such as soap, books, candy, and pens are
    distributed through more than one channel
    are distributed through an administered channel
    distributed through a direct channel
    are distributed through an integrated channel
    30s
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    Delete
  • Q11
    The principle advantage of railroad transportation is
    speed
    direct service to most towns
    all the responses are correct
    low cost for bulky items
    30s
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  • Q12
    The slowest method of transporting goods is
    Water transportation
    Railroad
    The U S Postal Service
    Air
    30s
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  • Q13
    Because consumers do not usually buy products as soon as they are produced, products need to be
    stored
    distributed
    trade discount
    transported
    30s
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    Delete
  • Q14
    The actual price a customer paid for a product is the
    selling price
    markup
    Discount
    cost of goods sold
    30s
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  • Q15
    Purchasing snow blowers in the summer to help the manufacturer balance production and inventory levels often qualifies the buyer for a
    trade discount
    cash discount
    seasonal discount
    sales discount
    30s
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    Delete
  • Q16
    For manufacturers, the total cost of the materials, operations, and personnel used to make the product is the
    cost of goods sold
    discount
    markup
    selling price
    30s
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    Delete
  • Q17
    The cost of goods sold plus operating expenses plus net profit equals the
    gross profit
    margin
    selling price
    markup
    30s
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    Delete
  • Q18
    What type of business produces goods that other businesses use to make things?
    commercial
    service
    manufacturing
    industrial
    30s
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  • Q19
    Which statement is most accurate about demand?
    If demand drops, profits are not affected.
    If demand drops, profits increase.
    If demand increases, profits drop.
    If demand drops, profits drop.
    30s
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  • Q20
    Which of the following statements about budgets is true?
    Budgets can help in controlling operations.
    Budgets prevent borrowing.
    Budgets must be followed exactly as planned.
    budgets guarantee a certain amount of profit.
    30s
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