| A | B |
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| One way a national business chain can make sure that customers will remember its name is to develop what kind of brand name? | One that is easy to read and pronounce. |
| Can any brand name be selected and used by a business? | No, the name must be legally available for use. |
| When Kate selects a name and obtains a web address for her new catering business, she needs to make sure that the name of the business has which characteristic? | Unique and available |
| The plan to increase production by 10% over a two-year period is an example of which management activity? | Developing objectives |
| Which characteristic is descriptive of a meaningful company objective? | Measurable |
| Which is a reason why managers develop company objectives? | To identify business purposes |
| Managers use broad objectives that they develop for a business as the basis for setting which measurements? | Performance targets |
| An effective mission statement should effectively reflect which component of the business? | Core Values |
| Which is the MOST effective mission statement? | "We create happiness by providing the finest entertainment for people of all ages, everywhere." |
| Effective product or service management help businesses to perform which action? | To compete |
| When considering new product for a company, Tom decided to introduce a product in only three states for a six-month period. Which action did he perform? | Test marketing |
| Which is a characteristic of a pure service? | Does not include a tangible product |
| Product or service management is a marketing function that involves obtaining, developing, maintaining and improving a product or service mix in response to which possibility? | Marketing opportunities |
| Sandy opened a small business that carries a very wide variety of products of varying qualities at many different prices. Sandy is losing customers who are disappointed with the selection, quality, and quantity of items. What is lacking in Sandy's product mix? | Consistency |
| Which factor helps a business to determine its product mix? | Size and target market |
| Which is an example of a company using brand extension? | Coca-Cola adding Caffeine-Free Diet Coke |
| The product mix that a business decides to offer customers help to project which factor about the business? | Unique image |
| When a business expands its product mix, its goal is to accomplish which goal? | Appeal to more market segments with a wider variety of options |
| One way for a business to expand its product mix is by performing which action? | Acquiring another company |
| To appeal to a target market with slightly different needs, a business added a group of related items to its product mix. What is this group of items called? | Line Extension |
| Due to lackluster sales, the Elba Corporation has decided to eliminate several of its product lines. Elba's executives hope that by focusing on fewer product lines, they will see more profit. The Elba Corporation should plan to adjust which aspect of its product mix? | Width |
| When a business offers a service that saves time for a customer, which is a benefit to the customer? | Convenience |
| A business is extending its operating hours to accommodate its customers. Which is a business cost associated with this service? | Higher payroll expenses |
| When considering the services to offer customers, a business should determine if a specific service would accomplish which goal? | Enhance customer satisfaction levels |
| Which is a benefit to businesses of offering customized services to their customers? | Businesses charge higher prices for customized services, which can lead to higher profit margins |
| Marketers often condense USPs into short slogans due to which situation? | Customers tend to remember just one thing from an advertisement |
| Before identifying the USP of a company, which situation should happen FIRST? | Determine if one already exists |
| if a company cannot fulfill its USP, what will MOST LIKELY happen? | It will lose credibility |
| Which location would be most appropriate for a small business selling convenience products such as groceries that customers purchase on a regular basis? | Neighborhood shopping area |
| To guard an USP from its competitors, which action should be performed? | Repeating it as much as possible |
| A benefit of channels of distribution is which feature? | Businesses can easily obtain products from all over the world |
| A large car manufacturer purchases materials that it will use to create parts for automobiles. What is the car manufacturer? | An industrial user |
| Which product would likely use an exclusive distribution pattern? | A large piece of farm machinery |
| Indirect channels of distribution are usually of which attribute than direct channels? | Longer |
| A channel task should be performed by the channel member who has which attribute? | Performs its best |
| Channel members should share an equal commitment to which component of the product? | Quality |
| Marketers determine distribution intensity so they can achieve which outcome? | Ideal market exposure |
| The first decision that marketers must make when managing channels is performing which action? | Setting channel objectives |
| A hairstylist cutting the hair of a client is providing which example of a distribution channel? | Producer to consumer |
