MRKT-1301 Exam – Study Guide, Practice Questions & Exam Review
TRUE/FALSE: A company that wants to market its product globally has only two branding
strategies available: either use the brand name everywhere or develop a new brand name for
each different market. - ✔✔FALSE
Why are quantity discounts most often used? - ✔✔to encourage large orders
Which of the following involves direct communication between a sales representative and one
or more prospective buyers for the purpose of making a sale? - ✔✔personal selling
An ad for Deli brand cheese shows someone's hands building a sandwich using generous
portions of Deli cheese. Which executional style is being used in this ad? - ✔✔demonstration
Costco carries automotive supplies and other products. How would you describe Costco? -
✔✔*It is a retailer with a broad product assortment.
Procter & Gamble makes Camay soap for people concerned with soft skin and Safeguard for
those who want deodorant protection. Which type of strategy is the company using? -
✔✔individual branding
For which product would its producer be more likely to choose personal selling rather than sales
promotion to market it? - ✔✔washing machine/dryer combo
TRUE/FALSE: Services are considered intangible because most services cannot be felt or touched
in the same way most goods can be sensed. - ✔✔TRUE
What does AIDA stand for? - ✔✔attention, interest, desire, action
, Who is the originator of the message in the communication process? - ✔✔*the sender
When President's Choice introduced strawberry rhubarb ice cream, it was at a relatively low
price designed to capture a large share of the market. What type of pricing strategy was
President's choice pursuing? - ✔✔penetration pricing
What is an SBU? - ✔✔a subgroup of a single business
To earn a profit, managers must choose a price that is which of the following? - ✔✔is equal to
perceived value
What are the three types of pricing objectives? - ✔✔profit oriented, sales oriented, and status
quo
Which "P" helps to determine the store's image? - ✔✔**
What is normally the longest stage of the product life cycle? - ✔✔maturity
What is product positioning? - ✔✔the process of creating the desired image of the firm's
product with respect to its competition
The Bay department stores are usually classed as anchor stores. This means that other smaller
stores locate themselves around The Bay in the hopes that they will also be noticed. Which
statement best describes The Bay? - ✔✔They are often large department stores that are
located at opposite ends of a mall to create a heavy pedestrian traffic flow.
Snickers chocolate bars are advertised mainly during large occasions such as the Super Bowl or
the Olympics. What is the objective of this type of promotion? - ✔✔reminder
TRUE/FALSE: A company that wants to market its product globally has only two branding
strategies available: either use the brand name everywhere or develop a new brand name for
each different market. - ✔✔FALSE
Why are quantity discounts most often used? - ✔✔to encourage large orders
Which of the following involves direct communication between a sales representative and one
or more prospective buyers for the purpose of making a sale? - ✔✔personal selling
An ad for Deli brand cheese shows someone's hands building a sandwich using generous
portions of Deli cheese. Which executional style is being used in this ad? - ✔✔demonstration
Costco carries automotive supplies and other products. How would you describe Costco? -
✔✔*It is a retailer with a broad product assortment.
Procter & Gamble makes Camay soap for people concerned with soft skin and Safeguard for
those who want deodorant protection. Which type of strategy is the company using? -
✔✔individual branding
For which product would its producer be more likely to choose personal selling rather than sales
promotion to market it? - ✔✔washing machine/dryer combo
TRUE/FALSE: Services are considered intangible because most services cannot be felt or touched
in the same way most goods can be sensed. - ✔✔TRUE
What does AIDA stand for? - ✔✔attention, interest, desire, action
, Who is the originator of the message in the communication process? - ✔✔*the sender
When President's Choice introduced strawberry rhubarb ice cream, it was at a relatively low
price designed to capture a large share of the market. What type of pricing strategy was
President's choice pursuing? - ✔✔penetration pricing
What is an SBU? - ✔✔a subgroup of a single business
To earn a profit, managers must choose a price that is which of the following? - ✔✔is equal to
perceived value
What are the three types of pricing objectives? - ✔✔profit oriented, sales oriented, and status
quo
Which "P" helps to determine the store's image? - ✔✔**
What is normally the longest stage of the product life cycle? - ✔✔maturity
What is product positioning? - ✔✔the process of creating the desired image of the firm's
product with respect to its competition
The Bay department stores are usually classed as anchor stores. This means that other smaller
stores locate themselves around The Bay in the hopes that they will also be noticed. Which
statement best describes The Bay? - ✔✔They are often large department stores that are
located at opposite ends of a mall to create a heavy pedestrian traffic flow.
Snickers chocolate bars are advertised mainly during large occasions such as the Super Bowl or
the Olympics. What is the objective of this type of promotion? - ✔✔reminder
