Question # 1

With target costing, marketers will first ________ and then _______ .

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build the marketing mix; identify the target market

identify the target market; build the marketing mix

design the product; determine its cost

determine a selling price; target costs to ensure that the price is met

What is the name of an element of advertising strategy?

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Selecting advertising media

Sophisticated statistical models

Setting advertising objectives

B and C

Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This reflects the _______

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Product concept

Marketing concept

Marketing mix

Production concept

Selling concept

Statiscians have projected the world's population to reach _________ billion by the year 2030

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6.5

6.9

7.5

8.1

During the introduction stage in the PLC a firm w ill incur high costs in all of the following areas except which one?

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Distribution

Promotion

Product development

Reminder advertising

All of the following are accurate descriptions of modern marketing today, except which one?

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Marketing is creation of value for customers

Marketing is customer satisfaction at a profit

Selling and advertising are synonymous with marketing

Marketing involves building and managing profitable customer

None of the above statements is true

The prospecting step in the selling process includes identifying and _________ the prospects. Without both of them much time and effort will be wasted.

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calling

qualifying

preselling

making an appointment with

One risk of _________ is that sales may come at the expense of other items in the line. It works best when it takes sales away from competing brands. not when it "cannibalizes" the company's other items

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brand extension

line extension

packaging

social marketing

As a marketer of pesticides, you should be concerned about all of the following natural environment trends mentioned in your text except _________ .

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shortages of raw materials

increased pollution

increased government intervention

government subsidies

Which stage of the typical consumer product life cycle is out of place?

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Product development

Introduction

Maturity

Growth

Most retailers also charge manufacturers _________ payments demanded by retailers before they will accept new products and find a place for them on the shelves

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slotting fees

private fees

line extension fees

product line fees

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