ENT Chapter 5 Test

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The total market for a product must be known in order to determine

• short-term marketing goals
• how to write a marketing plan
• market share
• medium-term goals

The branding, packaging, and labeling of your product should accomplish all of the following except

• differentiate your product from others on the market
• provide information about the product
• identify your product
• describe the company’s product mix

Medium-term goals describe what you want your business to achieve

• by using various promotion methods
• in ten years
• in terms of market share
• in two to five years

Which of the following is not a pricing objective?

• to decrease expenses
• to increase profits
• to maximize sales
• to attract customers

If a store sells snow shovels for half-price in the middle of the summer, the store is offering customers a

• trade discount
• seasonal discount
• quantity discount
• cash discount

A long-term goal might be to

• establish a customer base
• network with local lawyers, accountants, and other business owners
• increase market share to 50%
• expand by adding a second location

Product characteristics that will satisfy consumer needs are called

• features
• packaging
• branding
• labeling

Your marketing strategy should address

• market share
• product introduction or innovation
• pricing
• all of these