Marketing Cluster Exam Quiz
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The purpose of legal procedure is to ensure that each party receives
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Ongoing advice
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Consistent treatment
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A reasonable verdict
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An indictment
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Have you been preparing for the marketing cluster exam? If yes, then this marketing cluster quiz is going to be very helpful for you. Clustering is the process of finding similarities in prospective customers and ensuring a marketer employs the appropriate marketing technique. Different target audiences call for different techniques to capture their attention. Give the simple test below and See moresee what you know about the Area Marketing Cluster. Good luck with the exams!
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- 2.
Walmart, Chevron Texaco, and Ford Motor Company sell stock in their companies. They are examples of which of the following types of business ownership:
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Franchisee
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Corporation
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Partnership
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Sole proprietorship
Correct Answer
A. CorporationExplanation
Walmart, Chevron Texaco, and Ford Motor Company are examples of corporations. A corporation is a type of business ownership where the company is a separate legal entity from its owners. This means that the owners, or shareholders, have limited liability and are not personally responsible for the company's debts or legal obligations. Corporations can sell stock to raise capital and have the ability to grow and expand their operations.Rate this question:
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- 3.
Channels of distribution benefit businesses by
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Lowering the prices of all industrial goods
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Getting their products to consumers more efficiently
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Raising their profits each year.
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Allowing them to avoid all channel tasks.
Correct Answer
A. Getting their products to consumers more efficientlyExplanation
Channels of distribution benefit businesses by getting their products to consumers more efficiently. This means that businesses can reach their target market more effectively, resulting in increased sales and customer satisfaction. By utilizing channels of distribution, businesses can streamline their supply chain, reduce delivery times, and ensure that their products are readily available to consumers. This ultimately helps businesses to achieve higher profits and maintain a competitive edge in the market.Rate this question:
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- 4.
Which of the following would not be considered an intermediary in a channel of distribution:
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Agent
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Retailer
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Producer
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Wholesaler
Correct Answer
A. ProducerExplanation
A producer is not considered an intermediary in a channel of distribution because they are the ones who create and manufacture the product. They are responsible for producing the goods or services and then selling them to either the wholesaler, retailer, or directly to the consumer. Intermediaries, on the other hand, are the middlemen who help in the distribution process by buying the products from the producer and selling them to the end consumer.Rate this question:
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- 5.
The negative effect of slotting fees is that they often limit a small producer's ability to
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Introduce new items in the marketplace
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Develop exclusive-dealing policies
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Use direct-distribution strategies
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Identify potential target markets
Correct Answer
A. Introduce new items in the marketplaceExplanation
Slotting fees refer to the fees that retailers charge manufacturers to secure shelf space for their products. These fees can be detrimental to small producers as they often have limited financial resources. By imposing slotting fees, retailers make it difficult for small producers to introduce new items in the marketplace. These fees act as a barrier for small producers, preventing them from expanding their product line and reaching a wider customer base. Thus, the negative effect of slotting fees is that they limit a small producer's ability to introduce new items in the marketplace.Rate this question:
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- 6.
What type of channel conflict often occurs between manufacturers and their authorized dealers?
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Corporate
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Horizontal
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Indirect
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Vertical
Correct Answer
A. VerticalExplanation
Vertical channel conflict often occurs between manufacturers and their authorized dealers. This type of conflict arises when there is a disagreement or tension between the manufacturer and the authorized dealer regarding issues such as pricing, distribution, or territory. It can occur when the manufacturer wants to expand its distribution network or when the authorized dealer feels that the manufacturer is giving preferential treatment to other dealers. Vertical channel conflict can negatively impact the relationship between manufacturers and their authorized dealers and can lead to issues such as decreased trust and cooperation.Rate this question:
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- 7.
When you look for supporting evidence in published materials, you are evaluating the
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Timeliness of the content.
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Readability of the text.
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Margin of error.
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Credibility of the sources.
Correct Answer
A. Credibility of the sources.Explanation
When you look for supporting evidence in published materials, you are evaluating the credibility of the sources. This means you are assessing whether the sources are reliable, trustworthy, and have expertise in the subject matter. Evaluating the credibility of the sources is important to ensure that the information you are using is accurate and backed by reputable sources.Rate this question:
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- 8.
Listening carefully should enable employees to
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Earn frequent raises.
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Become good speakers.
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Avoid criticism.
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Follow directions.
Correct Answer
A. Follow directions.Explanation
Listening carefully is important in order to understand and comprehend instructions or directions given by superiors or managers. By following directions accurately, employees can ensure that they are completing tasks correctly and meeting expectations. This can lead to increased productivity, efficiency, and ultimately, success in their roles. Additionally, following directions can help employees avoid mistakes or errors that could result in criticism or negative feedback. Therefore, listening carefully enables employees to follow directions effectively and avoid potential pitfalls.Rate this question:
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- 9.
Sara is a new marketing employee who is learning that the best way to listen to customers is
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Passively.
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Actively.
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Emotionally.
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Distractedly.
Correct Answer
A. Actively.Explanation
The best way for Sara, as a new marketing employee, to listen to customers is actively. This means she should be fully engaged and focused on what the customers are saying, actively seeking to understand their needs and preferences. By actively listening, Sara can gather valuable insights and feedback that can inform her marketing strategies and help her better meet the customers' expectations.Rate this question:
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- 10.
When Amber walked by Ryan's desk, she noticed that Ryan was raking his left hand through his hair, that his face was red, and that he kept hitting the enter button on keyboard with his right hand, while frowning at his computer screen. Based on his nonverbal cues, Amber would probably assume that Ryan was
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Patient.
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Frustrated.
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Bored.
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Enthusiastic.
Correct Answer
A. Frustrated.Explanation
Based on Ryan's nonverbal cues of raking his hand through his hair, having a red face, hitting the enter button on the keyboard, and frowning at his computer screen, it suggests that he is experiencing frustration. These behaviors are commonly associated with frustration and indicate that Ryan is likely feeling irritated or annoyed with something that he is dealing with on his computer.Rate this question:
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- 11.
Which of the following examples illustrates the use of the cause and effect method of a format for structuring oral presentations:
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We will begin by discussing the basic steps used in developing effective time management techniques, and the first step is to prioritize all of your commitments.
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The public supports increased spending on national security, and a survey reports that over seventy percent of the citizens fear future terrorist attacks.
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Monet and Cezanne were both impressionist artists; however, their painting techniques and use of color varied greatly.
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The use of toxic chemicals in the environment can result in the extinction of many species of waterfowl.
Correct Answer
A. The use of toxic chemicals in the environment can result in the extinction of many species of waterfowl.Explanation
The example "The use of toxic chemicals in the environment can result in the extinction of many species of waterfowl" illustrates the cause and effect method of structuring oral presentations because it presents a cause (the use of toxic chemicals) and its effect (the extinction of many species of waterfowl). This format is used to show the relationship between a specific action or event and its consequences.Rate this question:
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- 12.
Allison is attending a business seminar. Because the seminar presenter is speaking very quickly, Allison is having a difficult time taking accurate notes. What technique would help Allison take notes quickly?
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Use abbreviations and symbols
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Write notes on index cards
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Focus on the subtopics
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Ask the speaker to provide handouts
Correct Answer
A. Use abbreviations and symbolsExplanation
Using abbreviations and symbols is a technique that can help Allison take notes quickly. By using shorthand and symbols, she can condense information and write it down more efficiently. This will allow her to keep up with the fast pace of the seminar presenter and capture the key points without getting overwhelmed.Rate this question:
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- 13.
An e-mail message that is sent to a coworker should contain
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A persuasive argument.
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An urgent tone.
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Essential information.
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Encouraging news.
Correct Answer
A. Essential information.Explanation
When sending an email to a coworker, it is important to include essential information. This means including all the necessary details that the coworker needs to know in order to understand the purpose of the email and any actions they need to take. Including essential information ensures that the coworker is well-informed and can respond or act accordingly. A persuasive argument, urgent tone, or encouraging news may not be necessary or appropriate in all email communications with coworkers.Rate this question:
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- 14.
Employees often use simple written reports to provide managers with __________ information.
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Extensive
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Analytical
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In-depth
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Routine
Correct Answer
A. RoutineExplanation
Employees often use simple written reports to provide managers with routine information. Routine information refers to regular or standard information that is commonly shared with managers on a regular basis. These reports may include updates on daily operations, progress on ongoing projects, or general updates on the team's activities. They are typically straightforward and provide basic facts and figures without extensive analysis or in-depth exploration of the subject matter.Rate this question:
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- 15.
Many businesses try to foster positive customer/client relations by encouraging employees to be
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Talkative.
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Friendly.
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Reserved.
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Authoritative.
Correct Answer
A. Friendly.Explanation
In order to foster positive customer/client relations, businesses encourage employees to be friendly. Being friendly creates a welcoming and approachable atmosphere, making customers feel comfortable and valued. It also helps to build trust and rapport with customers, leading to increased customer satisfaction and loyalty. By being friendly, employees can effectively communicate, understand customer needs, and provide excellent customer service.Rate this question:
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- 16.
A local supermarket's front-end employees are trained to smile and greet customers as they approach the cash register and say thank you as customers leave. This approach
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Decreases customer patronage.
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Builds customer loyalty.
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Encourages employee rivalry.
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Decreases employee productivity.
Correct Answer
A. Builds customer loyalty.Explanation
The supermarket's approach of training front-end employees to smile, greet customers, and say thank you as they leave is likely to build customer loyalty. When customers feel welcomed and appreciated, they are more likely to have a positive perception of the supermarket and continue to patronize it. This approach creates a friendly and positive atmosphere, which can lead to repeat business and increased customer loyalty.Rate this question:
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- 17.
Which of the following is often the best way for a salesperson to handle the slow/methodical type of difficult customer:
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Summarize benefits
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Ask their advice
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Be brief
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Let the customer do the talking
Correct Answer
A. Summarize benefitsExplanation
When dealing with a slow/methodical type of difficult customer, summarizing the benefits is often the best way for a salesperson to handle the situation. This approach allows the salesperson to highlight the key advantages and features of the product or service, which can help the customer make a more informed decision. By summarizing the benefits, the salesperson can address the customer's need for detailed information and demonstrate the value of the product or service in a clear and concise manner. This approach is effective in capturing the customer's attention and addressing their concerns without overwhelming them with excessive information.Rate this question:
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- 18.
Distribution examines how income is divided between
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Consumers and resource owners.
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Producers and resource owners.
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Consumers and producers.
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Producers and economizers.
Correct Answer
A. Producers and resource owners.Explanation
Distribution examines how income is divided between producers and resource owners. This means that it focuses on how the revenue generated from the production of goods and services is shared between those who contribute to the production process (producers) and those who provide the necessary resources for production (resource owners). It does not specifically consider the division of income between consumers and producers or between producers and economizers.Rate this question:
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- 19.
Consumers buy products to benefit
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Marketers.
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Themselves.
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Producers.
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Retailers.
Correct Answer
A. Themselves.Explanation
Consumers buy products for themselves because they expect to derive some form of benefit or satisfaction from the product. Whether it is a need or a want, consumers make purchasing decisions based on their own personal preferences, needs, and desires. The ultimate goal for consumers is to fulfill their own needs and wants through the products they purchase.Rate this question:
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- 20.
Which of the following is a disadvantage of the matrix organizational structure:
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It lacks flexibility.
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It makes the organization less competitive.
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It cannot balance conflicting organizational objectives.
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It violates the unity of command principle.
Correct Answer
A. It violates the unity of command principle.Explanation
The matrix organizational structure violates the unity of command principle, which states that each employee should have only one direct supervisor. In a matrix structure, employees often have multiple supervisors, leading to confusion and conflicting priorities. This can result in a lack of clear direction and accountability, making it difficult for employees to know who to report to and causing inefficiencies in decision-making and communication.Rate this question:
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- 21.
Kent is going to start his own business. He is concerned that the merchandise he wants to carry will go out of style soon after opening his business. Which type of risk must he prepare for?
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Economic
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Natural
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Human
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Incompetence
Correct Answer
A. EconomicExplanation
Kent must prepare for economic risk because he is concerned about the merchandise going out of style soon after opening his business. Economic risk refers to the potential losses or uncertainties that arise from changes in the economy, such as market fluctuations, recession, inflation, or changes in consumer demand and preferences. In this case, if the merchandise goes out of style quickly, it could lead to financial losses for Kent's business. Therefore, he must be prepared to mitigate and adapt to economic changes to ensure the success and sustainability of his business.Rate this question:
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- 22.
The payment of taxes to the federal government allows it to provide goods and services to ___________ and ___________ .
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Businesses; households
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Businesses; resource markets
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Households; product markets
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Businesses; product markets
Correct Answer
A. Businesses; householdsExplanation
The payment of taxes to the federal government allows it to provide goods and services to businesses and households. Taxes collected from businesses and individuals are used by the government to fund various programs and initiatives that benefit both sectors. This includes infrastructure development, healthcare services, education, and social welfare programs. By providing goods and services to businesses, the government supports their growth and development, which in turn contributes to the overall economy. Similarly, by providing goods and services to households, the government ensures the well-being and quality of life of its citizens.Rate this question:
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- 23.
Which of the following economic laws is a business following when it stops hiring after its current employees achieve a certain level of productivity:
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Negative returns
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Diminishing returns
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Marginal revenues
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Variable products
Correct Answer
A. Diminishing returnsExplanation
When a business stops hiring after its current employees achieve a certain level of productivity, it is following the economic law of diminishing returns. This law states that as more units of a variable input (in this case, employees) are added to a fixed input (such as capital or land), the marginal product of the variable input will eventually decrease. In other words, the additional output gained from hiring more employees becomes smaller and smaller, making it less cost-effective for the business to continue hiring.Rate this question:
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- 24.
The goods and services sold during a year to foreign buyers are a country's
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Gross private investments.
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Imports.
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Exports.
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Personal consumption expenditures.
Correct Answer
A. Exports.Explanation
The correct answer is exports. This is because exports refer to the goods and services that a country sells to foreign buyers. Gross private investments refer to the total amount of investment made by private entities within a country. Imports refer to the goods and services that a country purchases from foreign sellers. Personal consumption expenditures refer to the amount of money spent by individuals on goods and services within a country.Rate this question:
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- 25.
Which of the following occurs when a country can produce goods at a relatively more efficient rate than another country:
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Absolute advantage
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Comparative advantage
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Trade deficit
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Trade surplus
Correct Answer
A. Comparative advantageExplanation
Comparative advantage occurs when a country can produce goods at a relatively more efficient rate than another country. This means that the country can produce a good at a lower opportunity cost compared to another country. It is based on the concept of specialization, where each country focuses on producing the goods that they can produce most efficiently, and then trade with other countries to obtain goods that they cannot produce as efficiently. Comparative advantage leads to increased efficiency, specialization, and overall economic growth through international trade.Rate this question:
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Current Version
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Sep 03, 2023Quiz Edited by
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Nov 25, 2012Quiz Created by
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