Quiz #3 >> Introduction to Marketing
1. Which of the following are included in the 7 M’s of developing a Communication Plan? (Select all that apply):
- Message Content/Design: What should we tell them and how?
- Markets: Who should we talk to?
- Mass: How large should the plan be?
- Money: How much do we need to spend?
- Media Strategy: How do we reach them?
2. Which of the following is NOT an example of Mass and Targeted Media strategy?
- Online Word of Mouth
- Outbound Advertising
- Public Relations
- Print Media
- Product Placement
3. Which of the following is NOT a true statement about the Key Principles of Media Planning?
- The campaign mentions the brand name
- The campaign must win awards in order to succeed
- The campaign can show the product in use
- The campaign should state the positives of the product/service
- The campaign must avoid unpleasant connections with your product
4. 1% improvement in ______ would create the biggest improvement of operating profit for a company.
- Fixed Cost
- Sales Volume
- Variable Cost
5. Price Sensitivity is affected by… (Select all that apply):
- Price/Quality Inferences
- Indirect Comparisons
- Private Costs
- Availability and awareness of substitutes
- Switching Cost
6. Which of the following statement is true about measuring price elasticity?
- One of the strengths of a Survey is that people are honest about their intentions on what they will do
- A carefully designed choice set in a Trade-Off Analysis can allow us to measure how a consumer trades off one variable against another
- Surveys measures the variable of actual purchases in an experimental environment
- For field/laboratory experiments, one only needs to measure preferences and intentions
- When actual purchase is measured under controlled conditions, you are measuring Sales Data
7. According to the Weber Fechner Law, consumers react to prices in _____ as opposed to _____.
- Percentage Terms / Absolutes
- Euros / Dollars
- Terms of Emotion / Rationality
- Decimal Points of .99 / .00
- Dollars / Euros
8. True or False: Businesses often spend significantly more money on creating customer access for their products/service than they spend on advertising
9. For the iPhone, which of the following are considered digital attributes of the product? (Select all that apply)
- Efficiency of using the appes on the phone
- Size differences between iPhone models
- Feel of the touchscreen technology
10. _____ is when the consumers shop offline to get a feel for the product and then buys the product online at a cheaper price.
- Retail Dating
- Comparison Shopping