Question 1

There's a new pricing strategy at Big Apple Bagel Bakery, which means they're going:

Accepted Answer

The new pricing strategy involves offering free bagels with the purchase of a certain number, which is a common promotional tactic to encourage larger purchases.

Question 2

Given that a farmer's products are subject to unpredictable influences such as weather and pests, a farmer could be said to be engaging in which of the Eight Universal Marketing Functions?

Accepted Answer

Risk taking is one of the Eight Universal Marketing Functions, and it directly applies to the farmer's situation where their products are subject to unpredictable influences such as weather and pests. This involves dealing with the uncertainties that affect the marketing of the products.

Question 3

Of the following actions, which one is most likely to be part of the new promotion strategy at Panera Bread?

Accepted Answer

The answer of Of the following actions, which one is...

Question 4

Knowing that gift certificates are a big contributor to winter revenues, Nonny's Nail Salon is offering a holiday special of $15 off the purchase of every mani/pedi gift certificate. It's a key component of the business's _______ every year.

Accepted Answer

The holiday special of $15 off is a promotional tactic aimed at increasing sales, making it part of the business's promotion strategy.

Question 5

You own a carpet, tile, and flooring store. Of the following activities, which one is the best example of selling in your business?

Accepted Answer

Offering customers a 90-days-same-as-cash discount on credit card purchases directly encourages customers to make a purchase by providing a financial incentive, which is a direct selling activity.

Question 6

When bad weather damages crops such as wheat and corn, food manufacturers such as Kraft often have to pass the additional cost of scarce supplies along to their customers in the form of higher prices.

Accepted Answer

When the supply of crops is reduced due to bad weather, the cost of these raw materials increases. Food manufacturers, facing higher production costs, may raise prices to maintain profitability.

Question 7

Which of the following actions is part of the new product strategy at Martin's Knitted Hosiery?

Accepted Answer

The new product strategy involves expanding the product line, which is represented by starting to manufacture new products like knitted hats, scarves, and mittens.

Question 8

You are about to open a dog grooming business. Which of the following activities best represents your efforts to secure market information?

Accepted Answer

Contacting all of the vets in the area to establish an estimated number of dogs in your town directly relates to gathering market information. This activity helps you understand the potential customer base for your dog grooming business by estimating the number of dogs in the area.

Question 9

When Dolly Parton promotes her theme park called Dollywood, it is both place and person marketing.

Accepted Answer

Dolly Parton promoting Dollywood involves place marketing because she is promoting a specific location (the theme park), and person marketing because she uses her personal brand and celebrity status to endorse the park.

Question 10

In the context of marketing, which of the following is the best example of risk taking?

Accepted Answer

The answer of In the context of marketing, which of...

Question 11

To increase revenues, Gorilla Glue is planning to launch a new distribution strategy by:

Accepted Answer

The answer of To increase revenues, Gorilla Glue is planning...

Question 12

In the context of marketing, which of the following is the best example of selling?

Accepted Answer

Selling involves offering products or services to customers. An app designer making her services available to clients is an example of selling because she is offering her services directly to potential customers.

Question 13

To encourage more purchases of their products with their _______, Curlie Girl's curl-enhancing shampoos and conditioners are sold in two formats: as individual bottles or as shampoo/conditioner sets priced 10% lower than two individual bottles.

Accepted Answer

The correct answer is B) pricing strategy because the scenario describes a method of setting prices to encourage more purchases, which is a key aspect of pricing strategy. Selling products as sets at a lower price than individual items is a common pricing tactic to increase sales volume.

Question 14

The Mistletoe Christmas Tree Farm has been in your family for generations, and you've been running it for more than 20 years. Today you are _______, which is a good example of the universal function of buying.

Accepted Answer

Studying sales records to determine whether to import more trees is an example of the buying function, as it involves making decisions about what goods to purchase or obtain to meet customer demand.

Question 15

At the local farmer's market, you sell one-pound bags of organically grown and naturally dried beans. In your business, standardizing and grading is a common function, as exemplified by which of the following?

Accepted Answer

Standardizing and grading involve ensuring products meet certain standards or criteria. Removing as many bad beans as possible before bagging is an example of this, as it ensures the product meets a quality standard.

Question 16

The makers of Advil have designed machines that automatically move plastic bottles along conveyor belts until each bottle is filled with a precise number of tablets or gelcaps. This is an example of which of the Eight Universal Marketing Functions?

Accepted Answer

This process ensures that each bottle contains a precise and consistent number of tablets or gelcaps, which relates to standardizing and grading, ensuring uniformity and quality control in the product.

Question 17

Mary Kay Cosmetic's long-time policy of rewarding top sales representatives with a "Mary Kay pink" Cadillac is an example of integrated marketing communications.

Accepted Answer

This policy is an example of integrated marketing communications because it uses a consistent promotional message (success and recognition through a pink Cadillac) across multiple channels (sales incentives, public relations, and personal selling) to reinforce the brand image and motivate sales representatives.

Question 18

In the context of marketing, which of the following is the best example of financing?

Accepted Answer

Financing in marketing often refers to the extension of credit to customers or clients to facilitate the purchase of goods or services. In this context, a flower wholesaler allowing florists to purchase products on credit is the best example of financing, as it directly involves offering financial terms to customers to encourage sales.

Question 19

In modern terminology, Apple's excellent sales and customer service, sleek design, innovative engineering, and reliability all add up to a world-class "product."

Accepted Answer

These characteristics are commonly associated with high-quality products, and when a company like Apple combines excellent sales and customer service, sleek design, innovative engineering, and reliability, it is indeed considered to be offering a world-class product.

Question 20

You've certainly got your customers' paper needs covered! Not only do you sell copier paper for businesses of all sizes, you will retrieve paper files for either storage or destruction (shredding). Of the following activities, which would you say best represents the function of storing in your business?

Accepted Answer

The answer of You've certainly got your customers' paper needs...

Quiz 1: Marketing: the Art of Satisfying Customers