PBM Knowledge Checker
Quiz by Pa'Trice Day Owens
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40 questions
Show answers
- Q1Which of the following is not an element of the marketing mix?PlaceProductAll of the responses are part of the marketing mixPrice30sEditDelete
- Q2The normal length of time of which a marketing plan is developed is6 monthsOne year3 years2 years30sEditDelete
- Q3The product life cycle concept suggests thatthere is no such thing as a new productboth sales and profits will ultimately declineprofits will usually be higher than salessales of a product will continue to grow30sEditDelete
- Q4Companies emphsize promotion and price of their products in which stage of the product life cycle?MaturityGrowthDeclineIntroduction30sEditDelete
- Q5An example of a product in the decline stage of the life cycle isCellular telephonesphonograph recordsNotebook computers (laptop)Microwave Ovens30sEditDelete
- Q6Most often, retailers sell toconsumerswholesalersother retailersproducers30sEditDelete
- Q7The number and type of businesses in a channel of distribution is determined by theactivities that need to be performedcost of the productconsumerproduct assorment30sEditDelete
- Q8Which of the following would be the shortest channel of distribution?producer-wholesaler-retailer-consumerproducer-retailer-consumerNone of the responsesproducer-consumer30sEditDelete
- Q9A business that owns the organizations at other levels of a channel of distribution is involoved inchannel integrationillegal trade practiceswholesalingan administered channel30sEditDelete
- Q10Products such as soap, books, candy, and pens aredistributed through more than one channelare distributed through an administered channeldistributed through a direct channelare distributed through an integrated channel30sEditDelete
- Q11The principle advantage of railroad transportation isspeeddirect service to most townsall the responses are correctlow cost for bulky items30sEditDelete
- Q12The slowest method of transporting goods isWater transportationRailroadThe U S Postal ServiceAir30sEditDelete
- Q13Because consumers do not usually buy products as soon as they are produced, products need to bestoreddistributedtrade discounttransported30sEditDelete
- Q14The actual price a customer paid for a product is theselling pricemarkupDiscountcost of goods sold30sEditDelete
- Q15Purchasing snow blowers in the summer to help the manufacturer balance production and inventory levels often qualifies the buyer for atrade discountcash discountseasonal discountsales discount30sEditDelete
- Q16For manufacturers, the total cost of the materials, operations, and personnel used to make the product is thecost of goods solddiscountmarkupselling price30sEditDelete
- Q17The cost of goods sold plus operating expenses plus net profit equals thegross profitmarginselling pricemarkup30sEditDelete
- Q18What type of business produces goods that other businesses use to make things?commercialservicemanufacturingindustrial30sEditDelete
- Q19Which 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.30sEditDelete
- Q20Which 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.30sEditDelete