Commerce
Exam Solutions
Course Introduction
This course provides a comprehensive introduction to the principles and practices of commerce, covering key topics such as trade, business organization, marketing, accounting, finance, and economics. Students will explore the interrelationship between commercial activities and the broader economic environment, gaining insights into how businesses operate in local, national, and global markets. By examining case studies and real-world scenarios, learners will develop foundational skills in business decision-making, analysis, and communication, preparing them for further study or entry-level roles in the commercial sector.
Recommended Textbook
Marketing The Core 5th Edition Canadian by Roger A. Kerin
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15 Chapters
1617 Verified Questions
1617 Flashcards
Source URL: https://quizplus.com/study-set/3094
Page 2
Chapter 1: Marketing Fundamentals
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122 Verified Questions
122 Flashcards
Source URL: https://quizplus.com/quiz/61321
Sample Questions
Q1) The marketing orientation stage set in when organizations started focusing on satisfying the needs of consumers while achieving organizational objectives.
A)True
B)False
Answer: True
Q2) Relationship marketing involves a personal, ongoing relationship between an organization and its customers that often starts before a sale occurs and lasts well beyond the point when a sale has concluded.
A)True
B)False
Answer: True
Q3) The unique combination of benefits received by targeted consumers that include quality, price, convenience, delivery, and both before-sale and after-sale service is called customer _____.
A)loyalty program
B)value
C)convenience
D)retention plan
Answer: B
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Page 3
Chapter 2: The Marketing Environment
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136 Verified Questions
136 Flashcards
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Sample Questions
Q1) Which of the following is NOT a trend in food consumption among Canadians?
A)A switch away from processed foods and towards more fresh foods.
B)Increased interest and sales for ethnic food products.
C)Increased interest in fast food and frozen dinners.
D)A new focus on gourmet foods including delivery options.
Answer: C
Q2) Regulations refer to the restrictions placed on marketing practices by government and industry associations.
A)True
B)False
Answer: True
Q3) Explain the purpose of conducting a SWOT analysis.
Answer: SWOT analysis is performed to assess how well a company is servicing its business and target consumers by assessing an organization's internal strengths and weaknesses, as well as its external opportunities and threats.
Q4) Macroeconomic forces refer to the state of a country's economy as a whole.
A)True
B)False
Answer: True
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Chapter 3: Consumer Behaviour
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111 Verified Questions
111 Flashcards
Source URL: https://quizplus.com/quiz/61319
Sample Questions
Q1) Brenda wants to buy a new music system.At which stage does she choose the brand, decide from whom to buy the system, and decide when to buy it?
A)post-purchase behaviour
B)evaluation of alternatives
C)information search
D)purchase decision
Answer: D
Q2) A(n) _____ is a learned predisposition to respond to an object or class of objects in a consistently favourable or unfavourable way.
A)belief
B)value
C)attitude
D)motivation
Answer: C
Q3) The feeling of post-purchase psychological tension or anxiety is called cognitive dissonance.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Market Research Metrics and Analytics
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116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/61318
Sample Questions
Q1) A marketing experiment involves changing a variable involved in a purchase to find out what happens.
A)True
B)False
Q2) Focus group research, in-depth interviews, online communities, online bulletin boards, and social listening are forms of research methods collectively referred to as _____ research.
A)qualitative
B)quantitative
C)internal
D)external
Q3) In order for market research to be helpful, data must be
A)Compiled in a way that enables good decision-making
B)Old enough to be relevant to the situation
C)Reported using a standardized template
D)Compiled from both primary and secondary sources
Q4) Research designed to identify cause-and-effect relationships among variables is termed descriptive research.
A)True
B)False
Page 6
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Chapter 5: B2B Marketing
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) For many organizations, purchase decisions are made based upon minimizing risk.This reflects
A)The need for low price in organizational selling
B)Fear as a factor in organizational buying
C)Content marketing
D)Fluctuating and derived demand
Q2) Describe the three major types of organizational markets.
Q3) As more sellers take part in a reverse auction
A)Prices fall
B)Prices rise
C)Prices do not change
D)Increased moderation is required
Q4) The people in the organization who actually use the product or service are called
A)gatekeepers
B)deciders
C)users
D)influencers
Q5) What is the North American Industry Classification System (NAICS)?
Q6) Differentiate between traditional and reverse auctions.
Page 7
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Chapter 6: Segmentation Targeting and Positioning
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97 Verified Questions
97 Flashcards
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Sample Questions
Q1) Explain how niche marketing is different from segment marketing.
Q2) List the steps involved in market segmentation.
Q3) Segment marketing:
A)involves designing specific products and services to meet the needs of different target groups.
B)involves focusing efforts on a limited segment in the market.
C)exists in a limited capacity today due to the competitiveness of the market and the need for marketers to specifically address consumer needs with their offerings.
D)refers to marketing by customizing offers and products to fit individual needs.
Q4) Sam buys stationery items such as staplers, pens, printing paper, and printer cartridges from Staples.She buys these items for writing personal notes and for printing letters to her friends.In this instance, the stationery items that Sam purchases are part of the:
A)reseller market.
B)government market.
C)business market.
D)consumer market.
Q5) What is repositioning? Give an example of a repositioning effort by a company.
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Chapter 7: Products and Brands
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Differentiate between product line and product mix.
Q2) Private label branding is a:
A)branding strategy that involves giving each product a distinct name.
B)strategy where products are given no identifying names other than a description of its contents.
C)branding strategy in which a company uses one name for all of its products.
D)branding strategy in which manufacturers produce products that are sold under the brand name of a wholesaler or retailer.
Q3) How are business goods classified?
Q4) Production goods and services are items used to assist in producing other goods and services.
A)True B)False
Q5) For many products, the packaging and labelling are an integral part of the product. A)True B)False
Q6) Describe the four Is of services.
Q7) Identify the four types of consumer goods.
Q8) How do consumer products differ from business products?
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Chapter 8: New Product Development
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107 Verified Questions
107 Flashcards
Source URL: https://quizplus.com/quiz/61314
Sample Questions
Q1) In the introduction stage of the product life cycle there is typically minimal competition.
A)True
B)False
Q2) Using examples, explain the relationship between the product life cycle and adoption curve.
Q3) A research group is attempting to reduce its array of ideas to a manageable list of promising concepts.The research group is in the screening and evaluation stage of new product development process.
A)True
B)False
Q4) A _____ product has a short introductory stage in the product life cycle.In these instances, the benefits of purchasing these products are self-evident and very little learning is required.
A)concept
B)high-learning
C)fashion
D)low-learning
Q5) What is meant by commercialization?
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Chapter 9: Pricing
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108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/61313
Sample Questions
Q1) Evergreen Inc.is a distributor of high-quality fruit, flowering, and shade trees.Every client of Evergreen Inc.is supplied with a catalogue since the prices tend to change with seasons. The prices of all the trees in the Evergreen Inc.catalogue end in $.99.The distributor uses _____.
A)odd-even pricing
B)dynamic pricing
C)price lining
D)bundle pricing
Q2) Rather than billing clients by the hour, a group of lawyers and their clients agree on a fixed fee based on expected expenses plus a profit for the law firm.Which pricing method are they using?
A)target pricing
B)cost-plus pricing
C)customary pricing
D)experience curve pricing
Q3) A shift in the demand curve means:
A)the availability of substitutes remains the same.
B)at a given price, more (or less) product is sold.
C)consumer incomes remain the same.
D)consumer tastes remain the same.
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Chapter 10: Marketing Channels and Supply Chain
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112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/61312
Sample Questions
Q1) What does intensive distribution mean? Give an example.
Q2) Gathering, sorting, and dispersing products are some of the _____ functions of the intermediary.
A)transactional
B)logistical
C)transitional
D)facilitating
Q3) An online pottery store, myclayworks.com, designs and produces high-quality pottery products and sells them online to consumers around the world.Which marketing channel has the online store adopted?
A)strategic channel alliance
B)direct channel
C)subsidiary channel
D)indirect channel
Q4) Gourmet Coffees sells its coffees through Gourmet Coffee stores and select gift shops, and its Morning Fresh brand of coffees through supermarket stores.This is an example of an electronic marketing channel.
A)True
B)False
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Chapter 11: Retailing and Wholesaling
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110 Verified Questions
110 Flashcards
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Sample Questions
Q1) One of the limitations of television home shopping has been the:
A)lack of buyer-seller interaction.
B)complexity of payment options.
C)very restricted choice of product variants.
D)allowance of a maximum of 12 hours per day for shopping.
Q2) Competition between very dissimilar types of retail outlets that carry some of the same kind of merchandise is referred to as _____.
A)breadth of line
B)intertype competition
C)scrambled merchandising
D)multi-service merchandising
Q3) Franchising is a type of:
A)limited service wholesaler.
B)contractual system.
C)vertically integrated network.
D)greenfield venture.
Q4) Offering several unrelated product lines in a single store is referred to as intertype competition.
A)True
B)False
Page 13
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Chapter 12: Marketing Communications
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93 Verified Questions
93 Flashcards
Source URL: https://quizplus.com/quiz/61310
Sample Questions
Q1) The use of mobile devices in Canada peaked by 2010.
A)True
B)False
Q2) Pay-per-click advertising is also referred to as _____.
A)advergaming
B)leader boarding
C)search advertising
D)banner advertising
Q3) _____ promotions are short-term promotional tools used to generate support with wholesalers, distributors, or retailers.
A)Consumer
B)Personal
C)Trade
D)User-generated
Q4) Social network marketing occurs when companies market products that have social importance.
A)True
B)False
Q5) Explain the concepts of Paid, owned and earned media.
Q6) Explain outbound and inbound marketing.
Page 14
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Chapter 13: Digital Marketing Communications
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100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/61309
Sample Questions
Q1) Best practices for mobile marketing also use market research to stay abreast of how technology impacts consumer behaviour and to learn how mobile devices are integrated into daily lives.
A)True
B)False
Q2) Ryan is planning on using social media marketing to connect with potential customers and create long-term engagement.He should
A)Experiment with different platforms to see which one or two he likes the best
B)Reserve part of his promotional budget for traditional media in order to reach all demographics
C)Understand the need to adjust objectives once he gauges initial success
D)Identify the platforms that best fit his target market profile
Q3) YouTube is owned by which digital media giant?
A)Amazon
B)Google
C)Netflix
D)Apple
Q4) Discuss showrooming and give an example?
Q5) What are some of the mobile marketing best practices? Give an example.
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Chapter 14: Customer Relationship Management
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/61308
Sample Questions
Q1) Companies are often tempted to encourage consumers to say positive things about their brand on a social media platform, thus affecting the company's credibility.
A)True
B)False
Q2) Regular customers at Krotler Inc.are also offered autographed memorabilia and are sometimes invited for celebrity meet-and-greets.This practice of Krotler Inc.goes beyond its usual practice of giving points to the customer that can be used to redeem for merchandise.These special offers are an example of Krotler Inc.'s _____ programs.
A)affability
B)directivity
C)loyalty
D)credibility
Q3) CRM is the process of building and maintaining profitable customer relationships
A)True
B)False
Q4) Should organizations focus on low-value customers? Explain your answer.
Q5) Explain how consumers are increasingly using social media to contact an airline.
Q6) What is customer experience management? What is its main focus?
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Chapter 15: Marketing and Strategic Planning
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) The marketing plan gets carried out in the _____ phase of the strategic marketing process?
A)planning
B)control
C)implementation
D)strategic development
Q2) The goal of a SWOT analysis is to:
A)identify those critical factors that can have a major effect on the firm.
B)keep top management happy.
C)discover areas for diversified investment outside the firm's marketing areas.
D)develop new products for new market segments.
Q3) How can a corporate mission be used as a motivational tool?
Q4) Game Zoner, a manufacturer of toys, introduced and rushed to market a new gaming console to counter the other existing players in the market.But soon, complaints about incorrect programming of the console started pouring in.In which phase of the strategic marketing process did Game Zoner's strategy fail?
A)the goal-setting phase
B)the implementation phase
C)the control phase
D)the strategic development phase
Page 17
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