Market

General Directions: Be sure to write your name on the test. Read instructions to each section carefully. When you are done, place your test in the exam folder on the teacher’s desk.

I. (2 points each) True or False: Write the words true or false in the blank next to the number.
___1. Decisions about the payment options offered to customers are part of the pricing function of marketing.ANS: F

___2. Purchasing means buying products for a business's operation.
ANS: T

___3. According to the text, the skills and knowledge that are important for a marketing career include an ability to work well with others and an understanding of manufacturing techniques.
ANS: F

___4. The costs associated with marketing cause an increase in the cost of products, particularly when acompany manufactures a large quantity of product.
ANS: F

___5. Selling camping gear through catalogs mailed to Sierra Club members and other outdoors- people is an example of place utility.
ANS: T

___6. Companies are described as "sales oriented'' when they focus on their employees' ability to persuade rather than their customers' needs and wants.
ANS: T

___7. In marketingterms, customers are the people who use a product.
ANS: F

___8. The value of a product is determined by the price a company charges for it.
ANS: F

___9. Mrs. Yamura bought her son Kalen a radio-controlled car for his birthday. In the eyes of marketers for radio-controlled cars, Kalen is the customer.
ANS: F

___10. Susan, who wants to sell her old but reliable car, places an adabout the car in her local newspaper. In marketing terms, Susan has made a promotion decision.
ANS: T

___11. Pretty Posies Seed Company shows its understanding of its customers' psychographics by advertising its drought-resistant plant seeds only in newspapers in southwestern states.
ANS: F

___12. Companies are described as ''sales oriented'' when they focus on their employees' abilityto persuade rather than their customers' needs and wants.
ANS: T

___13. Products designed to appeal specifically to ''baby boomers'' (people born between 1946 and 1964) reflect a concern for customers' demographics.
ANS: T

___14. A business must have a complete customer profile in order to create a strong marketing mix.
ANS: T

___15. ''Positioning'' as defined by Al Ries andJack Trout means deciding how and where to place a product in the stores.
ANS: F


II. Multiple Choice: (2 points each) Read each question carefully and choose the response which best answers the question. Write your response in the blanks provided to the left of the question.


___1. What term is used to describe the process of selling a product in the marketplace?
a. marketingb. utility
c. pricing
d. exchange
ANS: D

___2. Big Ed's 24-Hour Diner recently began accepting VISA and Mastercard because Ed wanted to increase his product's_________.
a. information utility.
b. time utility.
c. form utility.
d. possession utility.
ANS: D

___3. The owner of a miniature golf business provides her customers with a_________________.
a.service.
b. promotion.
c. good.
d. exchange.
ANS: A

___4. The owners of the Totally Outrageous Shoe Store decided to rent store space next to a music store where teenagers frequently shop. What did the owners' decision add to their product?
a. promotion
b. place utility
c. time utility
d. improved distribution
ANS: B

___5. At the end of her one-week stayat the Hyatt Regency Hotel in Waikiki, Elena completed a form rating the hotel's service, food, and accommodations. Elena's form is an example of
a. information utility.
b. promotion.
c. product planning.
d. marketing research.
ANS: D

6. The Good Ol' Barbeque Sauce Company began marketing a new sauce that Includes spices often found in Asian cuisine. The creation of the...