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Principles Of Marketing Quiz Questions And Related Quizzes

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Questions: 35 | Attempts: 27,776 | Updated: Mar 10, 2024 And Analysis Quiz

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Hey, check out this incredible 'Principles of marketing quiz'. Here, you'll get
the chance to test out how well you know the things that make a marketing
strategy work. A good marketing strategy should put in mind the place,
price, product, and promotion that is perfect for the business. Once the
marketing strategy is designed the chances of attracting new clients
increase by the day.

By participating in this quiz, you'll have the opportunity to assess your

understanding of marketing fundamentals and identify areas where you
may need further study or development. So, whether you're looking to
brush up Read more

Principles of Marketing Questions and Answers

1. The activity for creating, communicating, delivering and

exchanging offerings that benefit the organization, its
stakeholders and society at large is referred to as
____________.

A. Marketing

Advertisement
B. Advertising and promotion
 Security P
C. Creative planning

D. Consumerism

Correct Answer
A. Marketing

Explanation
Marketing refers to the process of creating, communicating, delivering, and
exchanging offerings that are beneficial to the organization, its
stakeholders, and society at large. It involves identifying customer needs,
developing products or services to meet those needs, promoting and
advertising them, and ultimately selling and delivering them to customers.
Marketing encompasses various activities such as market research,
product development, pricing, distribution, and customer relationship
management. It is a strategic approach that aims to create value for both
the organization and its customers by satisfying their needs and wants.
Rate this question: 16 0

2. What are the two central concerns of marketing?

A. Establishing market share and making profits

B. Holding down costs and increasing profits

C. Finding customers and making profits

D. Discovering and satisfying needs

Correct Answer
D. Discovering and satisfying needs

Explanation
The two central concerns of marketing are discovering and satisfying
needs. This means that marketing involves identifying what customers
want or need, and then creating products or services that fulfill those
needs. By understanding and meeting customer needs, companies can
attract and retain customers, ultimately leading to profits. This approach
focuses on customer-centricity and ensuring that the products or services
offered provide value and meet the desires of the target market.
Rate this question: 11 0

3. The idea that an organization should strive to satisfy the

needs of consumers while also trying to achieve the
organization's goals reflects the ____________.

A. Concept of synergy

B. Marketing concept

C. Principle of consumerism

D. Societal marketing concept

Correct Answer
B. Marketing concept

Explanation
The idea that an organization should strive to satisfy the needs of
consumers while also trying to achieve the organization's goals reflects
the marketing concept. This concept emphasizes the importance of
understanding and meeting the needs and wants of consumers in order to
achieve long-term success. It recognizes that by satisfying consumer
needs, organizations can build strong customer relationships, gain a
competitive advantage, and ultimately achieve their own objectives.
Rate this question: 13 0

4. One of the more specific groups of potential consumers

toward which an organization directs its marketing program
is referred to as a ______________.

A. Mass market

B. Market aggregation

C. Target market

D. Promotional market

Correct Answer
C. Target market

Explanation
An organization directs its marketing program towards a specific group of
potential consumers called the target market. This group is identified
based on various factors such as demographics, psychographics, and
behavior. By focusing on the target market, the organization can tailor its
marketing strategies and messages to effectively reach and engage this
specific group, increasing the likelihood of success in achieving its
marketing objectives.
Rate this question: 12 0

5. The first objective in marketing is to discover consumer

___________.

A. Diversity

B. Potential

C. Objectives

D. Needs

Correct Answer
D. Needs

Explanation
In marketing, the first objective is to uncover and understand the needs of
consumers. By identifying and addressing these needs, businesses can
create products or services that satisfy their target audience, leading to
customer satisfaction and loyalty. Understanding consumer needs helps
marketers tailor their strategies and offerings to meet specific demands,
ultimately driving sales and business growth.
Rate this question: 10 0

6. Organizations that develop similar offerings, when grouped

together, create a/an _____________.

A. Merger

B. Industry

C. Competitive landscape

D. Monopoly

Correct Answer
B. Industry

Explanation
When organizations that develop similar offerings are grouped together,
they create an industry. An industry refers to a group of companies that
produce similar products or offer similar services. These organizations
may compete with each other within the industry, but they also share
common characteristics, such as target customers and market trends. The
concept of an industry helps to categorize and analyze businesses based
on their similarities and provides insights into market dynamics and
competition.
Rate this question: 9 1

7. The ratio of sales revenue of the firm to the total sales

revenue of all firms in the industry, including the firm itself is
referred to as ______________.

A. Sales quality

B. Market share

C. Marginal revenue

D. Industry potential

Correct Answer
B. Market share

Explanation
Market share refers to the ratio of a firm's sales revenue to the total sales
revenue of all firms in the industry, including the firm itself. It is a measure
of the firm's competitiveness and market dominance. A higher market
share indicates that the firm is capturing a larger portion of the market
compared to its competitors. It is an important metric for businesses to
assess their performance and evaluate their position in the industry.
Rate this question: 44 0

8. The marketing strategy of developing new products and

selling them in new markets is referred to as
_______________.

A. Product penetration
 B. Market development

C. Diversification

D. Market penetration

Correct Answer
C. Diversification

Explanation
Diversification refers to the marketing strategy of developing new products
and selling them in new markets. This strategy involves expanding a
company's product line and entering new markets to reduce risk and
increase growth opportunities. By diversifying, a company can reach a
wider customer base and reduce its reliance on a single product or market.
This strategy allows the company to explore new avenues for revenue
generation and expand its business beyond its current offerings.
Rate this question: 11 0

9. What does 'Technology' refers to?

A. Any device or process for which there is no substitute

B. The inventions or innovations from applied science that

are used to generate a profit

C. The inventions or innovations from applied science or

engineering research

D. Ideas or concepts that will one day be translated into

useable devices, mechanisms, or processes

Correct Answer
C. The inventions or innovations from applied science or engineering
research

Explanation
Technology refers to the inventions or innovations that are derived from
applied science or engineering research. It encompasses the development
and application of scientific knowledge to create practical solutions and
advancements in various fields. This includes the creation of new devices,
processes, and concepts that improve efficiency, productivity, and quality
of life.
Rate this question: 16 0

10. The description of a population according to selected

characteristics such as age, gender, ethnicity, income, and
occupation is referred to as ___________.

A. Prospecting

B. Behavioral analysis

C. Statistical analysis
 D. Demographics

Correct Answer
D. Demographics

Explanation
Demographics refers to the description of a population based on various
characteristics such as age, gender, ethnicity, income, and occupation. It
involves analyzing and understanding the composition and distribution of
these characteristics within a population. By studying demographics,
researchers and marketers can gain insights into the preferences, needs,
and behaviors of different groups, which can be useful for targeting
specific audiences and making informed decisions in various fields such
as marketing, public policy, and social sciences.
Rate this question: 12 0

11. Which of the following statements accurately distinguishes

between laws and ethics?

A. Laws reflect the beliefs of the majority and ethics reflect

the beliefs of smaller segments of society.

B. Ethics deal with internal personal issues, and laws deal

with external social issues.

C. Ethics deal with personal and moral principles whereas

laws are society's values and are enforceable in the courts.

D. There is no significant difference--these terms can be used

interchangeably.

Correct Answer
C. Ethics deal with personal and moral principles whereas laws are
society's values and are enforceable in the courts.

Explanation
Laws and ethics are different in their nature and scope. While laws are
rules and regulations enforced by the legal system, ethics are personal and
moral principles that guide individual behavior. Laws are created by society
and reflect its values, and they are enforceable in the courts. On the other
hand, ethics deal with personal beliefs and principles that may vary among
individuals or smaller segments of society. Therefore, the statement
accurately distinguishes between laws and ethics by highlighting their
respective focus and enforceability.

Rate this question: 7 0

12. The idea that organizations are part of a larger society and
are accountable to that society for their actions is referred to
as ______________.

A. Moral imperative

B. Social responsibility

C. Utilitarianism

D. Moral idealism
Correct Answer
B. Social responsibility

Explanation
Social responsibility refers to the concept that organizations have an
obligation to act in ways that benefit society as a whole. It involves
considering the impact of their actions on various stakeholders, including
employees, customers, communities, and the environment. By being
socially responsible, organizations acknowledge that they are not just
profit-seeking entities, but also have a responsibility to contribute
positively to the well-being of society. This can include actions such as
implementing sustainable practices, supporting charitable causes, and
promoting ethical behavior.

Rate this question: 6 0

13. A favorable attitude toward and consistent purchase of a

single brand over time is referred to as _____________.

A. Brand bias

B. Brand loyalty

C. Behavioral loyalty

D. Consumer allegiance

Correct Answer
B. Brand loyalty

Explanation
Brand loyalty refers to the favorable attitude and consistent purchase of a
single brand over time. It indicates a strong connection and commitment
towards a particular brand, where consumers consistently choose and
prefer that brand over others. This loyalty can be a result of positive
experiences, trust, satisfaction, and a sense of identification with the
brand. Brand loyalty is important for businesses as it leads to repeat
purchases, increased customer retention, and positive word-of-mouth,
ultimately contributing to the brand's success and profitability.
Rate this question: 5 0

14. Another name for the analysis of consumer lifestyle is

________________.

A. Demographics

B. Psychographics

C. Social statistics

D. Psysiological needs

Correct Answer
B. Psychographics

Explanation
Psychographics refers to the analysis of consumer lifestyle, which involves
studying the psychological and behavioral characteristics of individuals to
understand their preferences, motivations, and values. This approach goes
beyond demographics or social statistics, which focus on objective data
such as age, gender, income, or location. Psychographics provides insights
into consumers' attitudes, interests, opinions, and lifestyle choices, helping
businesses tailor their marketing strategies and offerings to specific target
audiences based on their psychographic profiles.

Rate this question: 5 0

15. There are five stages in the purchase decision process.

What is the first stage?

A. Information search

B. Purchase decision

C. Problem recognition

D. Post purchase behavior

Correct Answer
C. Problem recognition

Explanation
The first stage in the purchase decision process is problem recognition.
This is when the consumer becomes aware of a need or a problem that
they want to solve. It could be triggered by an internal stimulus, such as
realizing they are running out of a product, or an external stimulus, such as
seeing an advertisement for a new product. Once the problem is
recognized, the consumer moves on to the next stages of the process,
which include information search, evaluation of alternatives, purchase
decision, and post-purchase behavior.
Rate this question: 8 0

16. People to whom an individual looks as a basis for self-

appraisal or as a source of personal standards are referred
to as __________.

A. Principle-oriented consumers

B. Opinion leaders

C. Social classes

D. Reference groups

Correct Answer
D. Reference groups

Explanation
Reference groups are people or groups that an individual looks to for
guidance and comparison in order to form their own opinions, values, and
behaviors. These groups serve as a basis for self-appraisal and provide
personal standards for individuals. They can include family members,
friends, colleagues, or any other group that an individual identifies with and
seeks validation from. By observing and emulating the attitudes and
behaviors of reference groups, individuals shape their own identities and
make decisions about what is acceptable or desirable.
Rate this question: 17 0
17. The monetary value of all goods and services produced in a
country during one year is referred to as _______________.

A. Gross national production

B. National monetary reserve

C. Gross domestic product

D. Gross national product

Correct Answer
C. Gross domestic product

Explanation
The correct answer is gross domestic product. Gross domestic product
(GDP) is a measure of the total value of all goods and services produced
within a country's borders in a specific time period, usually one year. It
includes consumer spending, government spending, investment, and net
exports. GDP is used to gauge the economic health and growth of a
country.

Rate this question: 22 0

18. The process of defining a marketing problem and

opportunity, systematically collecting and analyzing
information, and recommending actions is referred to as
_______________.

A. Empirics

B. Data mining

C. Marketing tactics

D. Marketing research

Correct Answer
D. Marketing research

Explanation
Marketing research is the process of defining a marketing problem and
opportunity, systematically collecting and analyzing information, and
recommending actions. It involves gathering data and insights about
customers, competitors, and market trends to make informed decisions
and develop effective marketing strategies. Empirics refers to the use of
empirical evidence in research, data mining is the process of discovering
patterns in large datasets, and marketing tactics are specific actions taken
to promote a product or service. Therefore, marketing research is the most
appropriate term to describe the given process.
Rate this question: 19 0

19. Changing the place an offering occupies in consumers'

minds relative to competitive products is referred to as
_____________.

A. Product adaptation
 B. Perceptual mapping

C. Product positioning

D. Product repositioning

Correct Answer
D. Product repositioning

Explanation
Product repositioning refers to the process of changing the position or
perception of a product in the minds of consumers relative to its
competitors. This can involve altering the product's features, target market,
or marketing strategy to create a new and more favorable position in the
market. It is a strategic move aimed at gaining a competitive advantage
and attracting more customers.
Rate this question: 15 1

20. The place a product occupies in consumers' minds on

important attributes relative to competitive products is
referred to as _________________.

A. Product perception

B. Relative positioning

C. Competitive positioning

D. Product positioning

Correct Answer
D. Product positioning

Explanation
Product positioning refers to the place a product occupies in consumers'
minds on important attributes relative to competitive products. It is the
process of creating an image or identity for a product in the minds of the
target market. This involves identifying and promoting unique features and
benefits that differentiate the product from competitors. Effective product
positioning helps to establish a strong market position and competitive
advantage.
Rate this question: 15 0

21. A good, service, or idea consisting of a bundle of tangible

and intangible attributes that satisfies consumers and is
received in exchange for money or something else of value is
referred to as _______________.

A. A consumer good

B. A product

C. A stock item

D. Merchandise
Correct Answer
B. A product

Explanation
A product refers to a good, service, or idea that is offered to consumers in
exchange for money or something else of value. It can be a tangible item,
such as a physical product like a car or a smartphone, or an intangible
service like a haircut or a software download. The term "product"
encompasses both physical and non-physical offerings that satisfy
consumer needs and desires.
Rate this question: 11 0

22. What is the term used to refer to intangible activities or

benefits that an organization provides to satisfy consumers'
needs in exchange for money or something else of value?

A. Services

B. Enhancements

C. Marketing activities

D. Customer facilitation

Correct Answer
A. Services

Explanation
Services are intangible activities or benefits that an organization provides
to satisfy consumers' needs in exchange for money or something else of
value. These can include activities such as consulting, healthcare,
transportation, or entertainment. Services are different from tangible
products as they cannot be physically possessed or owned. They are often
experienced or consumed at the same time they are produced, and their
quality is dependent on the interaction between the service provider and
the customer.
Rate this question: 6 0

23. During the introduction stage of the product life cycle, a/an
________may be used. This pricing strategy charges a high
price to recoup the costs of product development.

A. Penetration pricing

B. Cost-plus pricing

C. Skimming pricing

D. ROI pricing

Correct Answer
C. Skimming pricing

Explanation
During the introduction stage of the product life cycle, a skimming pricing
strategy may be used. This strategy involves charging a high price for the
product in order to recoup the costs of product development. This
approach is often used for innovative or unique products where there is
limited competition. By initially setting a high price, the company can
target early adopters who are willing to pay a premium for the product. As
the product gains wider acceptance and competition increases, the
company can gradually lower the price to attract a larger market share.
Rate this question: 8 0

24. Any container in which a product is offered for sale and on

which information is communicated is referred to as
__________.

A. Product display

B. Merchandising

C. Packaging

D. A storage unit

Correct Answer
C. Packaging

Explanation
Packaging refers to any container used to offer a product for sale and
communicate information. It not only protects the product but also serves
as a marketing tool, attracting consumers and conveying important details
about the product. Packaging plays a crucial role in branding, promoting
the product's features, and differentiating it from competitors. Therefore,
packaging is the correct answer as it encompasses the concept of both
offering a product for sale and communicating information.

Rate this question: 7 0

25. Any word, device (design, sound, shape, or color), or a

combination of these used to distinguish a seller's goods or
service is referred to as a _________.

A. Copyright

B. Trade name

C. Brand mark

D. Brand name

Correct Answer
D. Brand name

Explanation
A brand name refers to any word, device, or combination of these that is
used to distinguish a seller's goods or service. It is a unique identifier that
helps consumers recognize and differentiate a particular brand from
others in the market. A brand name plays a crucial role in building brand
awareness, reputation, and customer loyalty. It represents the overall
image and values associated with a brand and helps establish a strong
identity in the minds of consumers.
Rate this question: 5 0
26. The total expense incurred by a firm in producing and
marketing a product; the sum of fixed cost and variable cost,
is referred to as _____________.

A. Overhead

B. Total cost

C. Fixed costs

D. Marginal cost

Correct Answer
B. Total cost

Explanation
Total cost refers to the overall expense incurred by a firm in producing and
marketing a product. It includes both fixed costs, which are expenses that
do not change with the level of production, and variable costs, which vary
based on the quantity produced. Total cost is an important metric for
businesses as it helps determine the profitability of a product and informs
pricing decisions.

Rate this question: 4 0

27. The ratio of perceived benefits to price is referred to as

________________.

A. The price-quality relationship

B. Prestige pricing

C. Value

D. Value analysis

Correct Answer
C. Value

Explanation
The ratio of perceived benefits to price is referred to as "value". This term
encompasses the overall worth or usefulness that a customer perceives in
a product or service relative to its cost. It considers the benefits received in
relation to the price paid, indicating whether the customer feels they are
getting a good deal or not.
Rate this question: 9 0

28. Setting prices a few dollars or cents under an even number

is referred to as

A. Odd-even pricing

B. Prestige pricing

C. Price lining
 D. Price fixing

Correct Answer
A. Odd-even pricing

Explanation
Odd-even pricing refers to the strategy of setting prices just below a round
number, such as $9.99 instead of $10. This tactic is used to create the
perception of a lower price in the consumer's mind, as they tend to focus
on the leftmost digit. By using odd-even pricing, businesses aim to attract
more customers and increase sales by making the price appear more
affordable and appealing.
Rate this question: 7 0

29. A/an ______exists when producers and ultimate consumers

deal one on one with each other.

A. Strategic channel alliance

B. Direct channel

C. Marketing channel

D. Indirect channel

Correct Answer
B. Direct channel

Explanation
A direct channel exists when producers and ultimate consumers deal one
on one with each other. In this type of channel, there are no intermediaries
involved, such as wholesalers or retailers. The producer sells the product
directly to the end consumer, allowing for a more efficient and streamlined
distribution process. This can result in cost savings for both the producer
and the consumer, as there are no additional markups or fees from
intermediaries. Additionally, direct channels can also provide the producer
with more control over their brand and customer relationships.
Rate this question: 9 0

30. A non personal, indirectly paid presentation of an

organization, product, or service that can take the form of a
news story, editorial, or product announcement is referred to
as

A. Direct sales

B. Publicity

C. Direct marketing

D. Public service announcement

Correct Answer
B. Publicity

Explanation
Publicity refers to a non personal, indirectly paid presentation of an
organization, product, or service that can take the form of a news story,
editorial, or product announcement. Unlike direct sales or direct marketing,
which involve direct communication and promotion to potential
customers, publicity focuses on generating attention and awareness
through media coverage and public interest. Public service
announcements, on the other hand, are a specific type of publicity that
aims to educate or inform the public about social issues or causes.
Rate this question: 7 0

31. Directing the promotional mix at ultimate consumers to

encourage them to ask retailers for the product is referred to
as a ___________.

A. Push strategy

B. Intense strategy

C. Exclusivity strategy

D. Pull strategy

Correct Answer
D. Pull strategy

Explanation
A pull strategy refers to directing the promotional mix at ultimate
consumers to encourage them to ask retailers for the product. In this
strategy, the focus is on creating consumer demand and generating
interest in the product, which in turn pulls the product through the
distribution channel. This can be achieved through various marketing
activities such as advertising, public relations, and sales promotions, all
aimed at creating consumer awareness and desire for the product. The
ultimate goal is to attract consumers to the product and generate demand,
leading to increased sales and profitability.

Rate this question: 8 0

32. Sales promotions that require participants to submit some

kind of entry form but are purely games of chance requiring
no analytical or creative effort by the consumer are referred
to as

A. Premiums

B. Rebates

C. Contests

D. Sweepstakes

Correct Answer
D. Sweepstakes

Explanation
Sweepstakes are sales promotions that require participants to submit an
entry form but do not require any analytical or creative effort. Unlike
contests, which involve skill or talent, sweepstakes are purely games of
chance. Participants have an equal chance of winning, and the winner is
selected randomly. Premiums are incentives given to customers for
purchasing a product or service, while rebates involve a partial refund of
the purchase price. Therefore, the correct answer for this question is
sweepstakes.
Rate this question: 7 0

33. The number of different people or households exposed to

an advertisement is referred to as

A. Scope

B. Share

C. Reach

D. Rating

Correct Answer
C. Reach

Explanation
Reach refers to the number of different people or households exposed to
an advertisement. It represents the total audience reached by a particular
advertisement or campaign. It is a measure of the overall potential impact
and visibility of the advertisement, indicating the size of the target
audience that has been reached. Reach helps advertisers understand the
extent of their message's exposure and the potential reach of their
marketing efforts.

Rate this question: 10 0

34. The cost of reaching 1000 individuals or households with

the advertising message in a given medium is referred to as

A. CPM

B. CPT

C. CMH

D. ACPM

Correct Answer
A. CPM

Explanation
The cost of reaching 1000 individuals or households with the advertising
message in a given medium is referred to as CPM. CPM stands for Cost
Per Mille, where "mille" refers to one thousand in Latin. This metric is
commonly used in advertising to measure the efficiency and effectiveness
of an ad campaign. It helps advertisers assess the cost-effectiveness of
different media channels by comparing the cost of reaching a specific
target audience. The lower the CPM, the more cost-effective the
advertising campaign is considered to be.
Rate this question: 7 0

35. When Allyn went to get his newspaper, he found the paper
in a plastic bag along with a box containing one dose of
 Alka-Seltzer Heartburn Relief medication. In this example,
which type of sales promotion is Alka-Seltzer using?

A. A sample

B. A deal

C. A point of purchase display

D. An introductory offer

Correct Answer
A. A sample

Explanation
Alka-Seltzer is using a sample as a sales promotion. By including one dose
of their heartburn relief medication along with the newspaper, they are
giving potential customers the opportunity to try their product for free. This
allows customers to experience the benefits of the medication firsthand
and potentially leads to future purchases.
Rate this question: 13 0

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