You are given a choice of taking the simple interest on 100,000 invested for 2 years

• In a buying center, purchasing agents or purchasing managers are also known
  as:

1. Gatekeepers

1. Deciders

1. Buyers

1. Users

1. Which of the following is always used to determine the classification of a good?

1. Buyer’s intent for using the product

1. Amount of shopping required by the buyer to obtain the product

1. Price of the product

1. Specific product features

1. The depth of a product mix is measured by the average number
   of:

1. Convenience products as compared with the number of specialty
   products

1. Different product lines offered by the company

1. Different products offered in each product line

1. Specialty products as compared with the number of convenience
   products

1. The four major stages of a product life cycle include:

1. Prosperity, recession, depression, and recovery

1. Specialty, convenience, shopping, and unsought goods.

1. Decline, stabilization, exposure, and growth.

1. Introduction, growth, maturity, and decline.

1. ____________ is the development of a product that is closely related to one
   or more products in a firm’s existing product line but is designed specifically
   to meet somewhat different customer needs.

1. The phase of new-product development in which a small sample of potential
   buyers are presented with a product idea through a written or oral description
   in order to determine their attitudes and initial buying intentions regarding
   the product is called:

1. Concept testing

1. Customer response testing

1. Idea analysis

1. Test marketing

1. The ability of a product to provide the same level of quality over time is
   called:

1. Consistency

1. Longevity

1. Variability

1. Status

1. The part of a brand that can be spoken including letters, numbers, and words
   is the :

1. Brand

1. Brand mark

1. Brand name

1. Trade name

1. When a product tries to capitalize on the brand equity of two separate
   brands, marketers are using:

1. Licensing

1. Co-branding

1. Partnerships

1. Brand-extension

1. Packaging is most important, as a strategic tool, for:

1. Consumer convenience products

1. Consumer shopping products

1. Industrial products

1. Consumer specialty products

1. An agreement in which the products of one organization are distributed
   through the marketing channel of another organization is
   called:

1. Dual distribution

1. Marketing intermediation

1. Channel conflict

1. A strategic channel alliance.

1. Using only some of the available outlets to distribute a product is
   called:

1. Selective distribution

1. Intensive distribution

1. Channel conflict

1. Vertical channel integration

1. When a single channel member manages an integrated marketing channel to
   achieve low-cost, effiecient distribution for satisfying target markets,
   _____________ exists

1. A vertical marketing system

1. Horizontal channel integration

1. Channel power

1. Channel cooperation

1. The basic function of promotion is:

1. Information

1. Manipulation

1. Communication

1. Interpretation

1. Advertising, personal selling, sales promotion, and public relations are
   called:

1. Marketing mix ingredients

1. Promotion mix components

1. Characteristics of a product

1. Advertising tools

1. An attempt to create a trend or acceptance of a product through
   word-of-mouth communication is called:

1. Guerilla marketing

1. Viral marketing

1. Buzz marketing

1. Personal publicity

1. The target audience for an advertising campaign is the:

1. Information base on which to develop the campaign.

1. Geographic distribution of persons.

1. People toward who the advertisements are directed.

1. Overall goal of the advertising campaign.

1. _______________ is a broad set of communication activities used to create
   and maintain favorable relations between the organization and its
   stakeholder.

1. Advertising

1. Selling

1. A press strategy

1. Public relations

1. _____________ is the communication in news story form about an organization
   or its product that is transmitted through a mass medium at no charge.
   
   
   
   1. Advertising

1. Publicity

1. Public relations

1. Sales promotion

1. Which of the following types of salespeople facilitate the selling function
   but are not involved solely with making sales.

1. Support salespeople

1. Inside order takers

1. Order getters who focus on current-customer sales

1. Order getters who focus on new-business sales.

1. Salespeople receive a set salary plus a commission based on sale with
   a:

1. Straight salary compensation plan

1. Combination compensation plan.

1. Cafeteria plan

1. Straight commission compensation plan

1. Sales promotion is defined as(n):

1. Activity used as a direct inducement to resellers, salespeople, or
   consumers.

1. Advertising campaign.

1. Cyclical activity aimed at producing a short-run effects on sales.

1. Noncyclical activity aimed at producing long-run effects.

1. The oldest form of exchange-trading of products----is known
   as:

1. Credit

1. Buying

1. Purchasing

1. Barter

1. At the breakeven point, the:

1. Money a company brings in from selling products equal the amount spent
   producing the products.

1. Total fixed costs are exactly equal to the total variable costs.

1. Profits are exactly equal to the difference between revenue and total
   variable costs.

1. Marginal revenue of a product is exactly equal to the marginal cost of
   producing one more unit.

1. ____________ consumers are concerned about both the price and quality
   aspects of a product.

1. Price-conscious

1. Prestige-sensitive

1. Value-conscious

1. Price-conscious and prestige-sensitive.

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