Periodical Exam

Question 1

Anything that a company or firm offers to customers for their use or consumption

Answer 1

product

Question 2

The main reason for making a purchase is typically viewed as the ________ in a consumer decision-making process.

Answer 2

core product

Question 3

Extra service-based add-ons, such as extended warranty, 24/7 customer support, and free training sessions, are received by customers when making a purchase. This enhances the experience of ______

Answer 3

Augmented Products

Question 4

In a retail setting, a customer evaluates the design, features, and specifications of an actual product before making a purchase decision. This involves assessing the product at the ______

Answer 4

prototype level

Question 5

The output created in the actual product development stage is called a ______

Answer 5

prototype

Question 6

A significant expansion is experienced by a business in the ___

Answer 6

Growth stage

Question 7

The main product comes with a lower price, but customers incur additional charges for supplementary features or services in __________

Answer 7

Captive Product Pricing

Question 8

involves setting a low initial price to quickly gain a large customer base.

Answer 8

Market Penetration strategy

Question 9

Setting prices based on the customer judgment of a product & worth and benefits.

Answer 9

Perceived Value

Question 10

Setting a high price on a new and innovative product to maximize profit before competitors catch up is a

Answer 10

Market Skimming Scheme

Question 11

Takes into account both fixed and variable costs in determining the price for a specific product.

Answer 11

Cost-Based Approach

Question 12

Encompassing all activities involved in selling goods or services directly to consumers.

Answer 12

Retailing

Question 13

purchase goods from wholesalers with the ultimate intention of selling them to consumers.

Answer 13

Merchandisers

Question 14

Involves all activities related to selling products or merchandise directly to other businesses for their use, encompassing activities such as bulk purchasing, storage, and distribution.

Answer 14

Wholesaling

Question 15

Business Models:

Answer 15

Retailing:
Merchandisers
Wholesaling:

Question 16

Types of Stores:

Answer 16

Hypermarkets
Convenience Store
Sari-sari store
Department store

Question 17

Characterized by being more spacious than supermarkets and offering a wider selection of products are ________________

Answer 17

Hypermarkets.

Question 18

Typically carries a restricted selection of goods, catering to the immediate and everyday needs of customers.

Answer 18

Convenience Store

Question 19

In a typical Filipino community, a conveniently located establishment serving the day-to-day needs of residents with a variety of products in a friendly and accessible manner is a _____

Answer 19

Sari-sari store

Question 20

Each organized into specific, providing a one-stop shopping experience is a

Answer 20

Department store

Question 21

Promotion Strategies:

Answer 21

Advertising:
Direct Marketing:
Personal Selling:
Public Relations

Question 22

The most aggressive among the different types of promotion, used when a company aims to create a strong and assertive presence in a competitive market.

Answer 22

Advertising

Question 23

Suitable when an organization aims to foster a positive public image, enhance its reputation, and build goodwill.

Answer 23

Public Relations

Question 24

Suitable in a business scenario where a company aims to reach consumers directly without involving middlemen or intermediaries.

Answer 24

Direct Marketing

Question 25

Used when the marketer wishes to build strong and binding relationships with customers.

Answer 25

Personal Selling