Exam 2 - Second midterm - Sample exam

Question 1

1. The Creston Winery video featured:

Answer 1

Transportation issues

Question 2

2. According to the text, what percentage of a product’s price goes to pay for packaging costs:

Answer 2

10-15 percent

Question 3

3. A middleman that takes title to goods, but not physical possession, is called a:

Answer 3

Desk jobber

Question 4

4. Experience curves:

Answer 4

Imply penetration pricing strategies

Question 5

5. Some classic auto industry marketing mistakes occurred due to:

Answer 5

Market segment instability

Question 6

6. In product terminology, a distinct ordering code or item number is a:

Answer 6

SKU (“skew”)

Question 7

. The sales of private brands (and generics) seem to be somewhat sensitive to
economic conditions.

Answer 7

True

Question 8

8. EDLP (Every Day Low Price) programs are run by:

Answer 8

Both retailers and manufacturers

Question 9

9. Product Life Cycles:

Answer 9

d. Two of the above
a. Could be classed as “deterministic”
b. Are difficult to apply in practice
c. Are the same as Family Life Cycles
?????

Question 10

10. When P and G uses different brands for different soap categories, this is:

Answer 10

Multi-branding

Question 11

11. The correct way to begin a market research project is:

Answer 11

d. Define the research problem and develop a research plan

Question 12

12. An example of a “discontinuous” innovation is:

Answer 12

The first telephone
The first electronic calculator
The first personal compute

Question 13

13. In FOB Origin pricing systems, the title to goods transfers:

Answer 13

At the shipping point

Question 14

14. Segmentation that recognizes geographic variations in culture is called:

Answer 14

Regional marketing

Question 15

15. The pricing of airline seats is an example of “yield management pricing.”

Answer 15

True