Marketing I Vocab Quiz
(117).webp "Marketing I Vocab Quiz - Quiz")
Questions and Answers
- 1.
A person that uses up the good or service is also known as the____
Explanation
A person that uses up the good or service is also known as the consumer. The term "consumer" refers to an individual who purchases and consumes goods or services for personal use or satisfaction. It encompasses the actions and behaviors of individuals in the market as they make choices to fulfill their needs and wants. Consumers play a crucial role in driving demand and shaping the economy.Rate this question:
- 2.
State Farm paid $10,000 for Hough's A Hall to be called "Discount Chamber A". In this scenario, State Farm is sponsoring the hallway.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
State Farm paid $10,000 to have Hough's A Hall named "Discount Chamber A," indicating that they are sponsoring the hallway. This suggests that the statement "State Farm is sponsoring the hallway" is true.Rate this question:
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- 3.
An environment where goods and services are transferred from the producer to the consumer without real interference, is known as a__________
- A.
Command economy
- B.
Nonpartisan economy
- C.
Free market economy
- D.
Enterprise
Correct Answer
C. Free market economyExplanation
A free market economy is an environment where goods and services are transferred from the producer to the consumer without real interference. In this type of economy, prices are determined by supply and demand, and individuals and businesses are free to make their own economic decisions. There is minimal government intervention or regulation, allowing for competition and individual freedom in the marketplace.Rate this question:
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- 4.
_________products are easily used up and need to be replaced
Correct Answer
consumable
Consumable - 5.
Becca sees Pringle's chips for $4. But she sees a local chip company's product for only $1.50. The difference in price, due to the added value people give Pringles chips due to it's brand, would be called it's what?
- A.
Brand promise
- B.
Brand Equity
- C.
Brand Choice
- D.
Brand relevance
Correct Answer
B. Brand EquityExplanation
The correct answer is Brand Equity. Brand equity refers to the value that a brand has in the eyes of consumers, which can be influenced by factors such as brand reputation, customer loyalty, and perceived quality. In this scenario, the higher price of Pringle's chips compared to the local chip company's product suggests that Pringle's has built a strong brand equity, as people are willing to pay more for their chips due to the added value they associate with the Pringle's brand.Rate this question:
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- 6.
When Emilie saw a t-shirt that said "Just Do it", she immediately thought of Nike. The slogan could also be called a______
- A.
Brand cue
- B.
Brand message
- C.
Brand survey
- D.
Brand care
Correct Answer
A. Brand cueExplanation
The correct answer is "Brand cue". Emilie's immediate association of the slogan "Just Do it" with Nike suggests that the slogan acts as a cue or trigger for the Nike brand in her mind. A brand cue is a stimulus that elicits a specific brand or product in the consumer's mind, helping to create brand recognition and association.Rate this question:
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- 7.
Opportunities a brand has to interact with the consumer, before, during or after a transaction is called a touchpoint.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
A touchpoint refers to any point of interaction between a brand and a consumer, whether it is before, during, or after a transaction. These touchpoints provide opportunities for the brand to engage with the consumer and create a positive experience. By utilizing various touchpoints, such as advertising, social media, customer service, and post-purchase follow-ups, brands can build relationships and enhance customer satisfaction. Therefore, the given statement that opportunities a brand has to interact with the consumer are called touchpoints is true.Rate this question:
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- 8.
What is the graphic mark or symbol or wordmark that a company can be identified?
Correct Answer
a logo
logo
LogoExplanation
A logo is a graphic mark, symbol, or wordmark that a company uses to identify itself. It is a visual representation of a company's brand and is designed to be easily recognizable and memorable. A logo helps to establish a company's identity and differentiate it from its competitors. It is often used on products, marketing materials, and websites to create a cohesive and professional look for the brand.Rate this question:
- 9.
The commitment to deliver made between the buyer and seller that the product will perform as expected is known as the__________
- A.
Brand gift
- B.
Brand delivery
- C.
Both A and B
- D.
Brand promise
Correct Answer
D. Brand promiseExplanation
The commitment to deliver made between the buyer and seller that the product will perform as expected is known as the brand promise. This refers to the assurance given by the brand to its customers that their product will meet their expectations and deliver the desired results. It is a pledge made by the brand to provide quality and satisfaction to the customers, building trust and loyalty in the process.Rate this question:
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- 10.
Selena goes to the craft store to select a photo album to fill with pictures of herself when she was younger. Which of the following interactions are touchpoints?
- A.
Selena sees a poster that says "photo albums 10% off"
- B.
An employee re-stocks a shelf with craft paper
- C.
Selena is offered a discount the next time she visits the store
- D.
Selena bumps into the cash register, and the cashier asks if she's okay
Correct Answer(s)
A. Selena sees a poster that says "pHoto albums 10% off"
C. Selena is offered a discount the next time she visits the storeExplanation
The interactions that are touchpoints in this scenario are when Selena sees a poster that says "photo albums 10% off" and when Selena is offered a discount the next time she visits the store. These interactions are touchpoints because they directly involve Selena and have the potential to influence her decision-making process or overall experience with the craft store. The other interactions mentioned, such as an employee restocking a shelf and Selena bumping into the cash register, may be part of the overall in-store experience but do not directly impact Selena's decision-making or future interactions with the store.Rate this question:
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- 11.
Logan went out to buy a lacrosse helmet. Because it is understood that the helmet is supposed to protect his head, if the helmet falls apart the moment he puts it on, the manufacturer violated what kind of warranty?
- A.
Necessary
- B.
Implied
- C.
Explicit
- D.
Expressed
Correct Answer
B. ImpliedExplanation
The correct answer is implied. This is because the question states that it is understood that the helmet is supposed to protect Logan's head. This implies that the manufacturer has an obligation to provide a helmet that functions properly and does not fall apart. Therefore, if the helmet falls apart, it violates the implied warranty that it should be functional and durable.Rate this question:
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- 12.
Select all the following trademark characters.
- A.
Tony the Tiger
- B.
Keebler Elves
- C.
Chips Ahoy
- D.
Snap, Crackle and Pop
- E.
Red Robin, Yummm
- F.
Count Chocula
- G.
Pillsbury Doughboy
Correct Answer(s)
A. Tony the Tiger
B. Keebler Elves
D. Snap, Crackle and Pop
F. Count Chocula
G. Pillsbury DoughboyExplanation
The correct answer is Tony the Tiger, Keebler Elves, Snap, Crackle and Pop, Count Chocula, and Pillsbury Doughboy. These characters are all trademarked characters associated with popular food brands. They are used in advertising and are recognizable to consumers.Rate this question:
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- 13.
A category of pricing objectives that focus on increasing total amount of income from sales is known as what?
- A.
Revenue-oriented pricing
- B.
Sales-oriented pricing
- C.
Cost-based pricing
- D.
None of the above
- E.
Both A and B
Correct Answer
B. Sales-oriented pricingExplanation
Sales-oriented pricing is a category of pricing objectives that focuses on increasing the total amount of income from sales. This means that the main goal of sales-oriented pricing is to maximize revenue by setting prices that encourage customers to make more purchases. This can be achieved through strategies such as offering discounts, promotions, or incentives to increase sales volume.Rate this question:
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- 14.
The personal satisfaction a customer receives from a good or service would be called a______
- A.
Specialty
- B.
Opportunity
- C.
Benefit
- D.
Privilege
Correct Answer
C. BenefitExplanation
The personal satisfaction a customer receives from a good or service is commonly referred to as a benefit. This refers to the positive outcome or advantage that the customer experiences as a result of consuming or using the product or service. The benefit can be in the form of improved functionality, convenience, enjoyment, or any other positive attribute that enhances the customer's experience.Rate this question:
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- 15.
Which P is NOT a part of the marketing mix
- A.
Product
- B.
Promotion
- C.
Planning
- D.
Price
- E.
Place
Correct Answer
C. PlanningExplanation
Planning is not a part of the marketing mix. The marketing mix consists of the 4Ps: Product, Price, Promotion, and Place. Planning, on the other hand, is a separate process that involves setting objectives, determining strategies, and outlining the steps to achieve those objectives. While planning is crucial for effective marketing, it is not considered one of the elements of the marketing mix.Rate this question:
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Current Version
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Dec 06, 2023Quiz Edited by
ProProfs Editorial Team -
Oct 16, 2014Quiz Created by
Waitehough
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