Study Guide Business 101

Study Guide
B101
Exam 4 Chapters 12-14

True/False

____1. External data refer to data about other organizations.

____2. Attitudes and opinions are psychographic characteristics.

____3. The early stages of a product’s life cycle are generally the most profitable for the company because there is little competition.

____4. Sales offices typically do not store or warehouse any inventory.

____5. A pushing strategy is designed to motivate wholesalers and retailers.

____6. Market segmentation attempts to isolate the traits that distinguish a certain group of consumers from the overall market.

____7. The fastest-growing advertising medium is the Internet.

____8. Throughout the marketing process, a successful organization focuses on building customer relationships.

____9. The appropriate marketing strategy may be different for convince goods and specialty goods.

____10. The most common market coverage for low-priced convenience items is intensive distribution.

____11. Advertising is the most visible form of non-personal promotion.

____12. Penetration pricing assumes that a low price will attract new buyers.

____13. A product is a bundle of physical, service, and symbolic attributes.

____14. Customer service is a part of product strategy.

____15. Creative selling involves a persuasive type of promotional presentation.










Multiple Choice

16. Define puffery


17. Give an example of automatic merchandising


18. What does a convenience store offer by being open 24 hours each day?

19. What is an example of place utility?

20. What is the most basic form of promotion?

21. What is a firm’s most important consideration in choosing a distribution channel?


22. What are consumer products classified as?


23. Combination of product lines represent a company’s what?


24. How much money do businesses spend on personal selling verses advertising?


25. The delivery of raw materials begins...