Introduction to Commerce Test Preparation
Course Introduction
Introduction to Commerce provides students with a foundational understanding of the principles and practices that underpin commercial activities in modern economies. The course explores key concepts such as trade, business organization, markets, the role of government in commerce, and the basics of accounting and finance. By examining how goods and services are exchanged, students gain insights into both domestic and international commercial environments. This course also introduces current trends and technologies influencing commerce and helps develop critical thinking and problem-solving skills relevant to business decision-making.
Recommended Textbook
Marketing An Introduction 6th Canadian Edition by Gary Armstrong
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16 Chapters
2482 Verified Questions
2482 Flashcards
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Page 2
Chapter 1: Marketing: Creating and Capturing Customer Value
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164 Verified Questions
164 Flashcards
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Sample Questions
Q1) Which of the following trends is part of the changing marketing landscape?
A)decline in not-for-profit marketing
B)a halt in globalization
C)growing conspicuous consumption
D)consumer desire for more sustainable marketing practices
E)decline in digital/online marketing
Answer: D
Q2) Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain?
A)production concept
B)product concept
C)selling concept
D)marketing concept
E)societal marketing concept
Answer: A
Q3) According to marketing theory, growing share of customer is certain if you build the best product in the market.
A)True
B)False
Answer: False
Page 3
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Chapter 2: Company and Marketing Strategy: Partnering to
Build Customer Relationships
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163 Verified Questions
163 Flashcards
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Sample Questions
Q1) The process of customer-driven marketing involves ________.
A)product, price, promotion, and adaptation
B)market segmentation, market targeting, differentiation, and positioning
C)marketing analysis, planning, implementation, and feedback
D)analysis, targeting, implementation, and control
E)problem identification, information search, decision, and implementation
Answer: B
Q2) Memories R Us specializes in serving market segments that major competitors overlook and ignore. Which of the following best describes Memories R Us'?
A)market follower
B)marketer challenger
C)market seeker
D)market nicher
E)full market coverer
Answer: D
Q3) Marketing strategies must be developed to support marketing objectives.
A)True
B)False
Answer: True
Page 4
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Chapter 3: Sustainable Marketing, Social Responsibility and Ethics
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165 Verified Questions
165 Flashcards
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Sample Questions
Q1) Which of the following statements is not true?
A)Bribery is illegal in Canada.
B)Kickbacks are illegal in Canada.
C)Different countries have different levels of corruption.
D)A Canadian company must lower its ethical standards to compete effectively in countries with low standards.
E)Worldwide bribery is a large "business," constituting over $1 trillion per year.
Answer: D
Q2) Canadians are unprotected from buying things under high pressure selling.
A)True
B)False Answer: False
Q3) Critics of the North American marketing system rarely target advertising as a problem.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Analyzing the Marketing Environment
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) Business legislation has been created for three basic reasons: to protect companies from each other, to protect consumers, and to ________.
A)protect the interests of society
B)regulate prices
C)increase world trade
D)regulate monopolies
E)promote environmental sustainability
Q2) With an expected increase in ethnic diversity, marketers are likely to place a greater emphasis on ________.
A)geographic segmentation
B)differing advertising messages
C)mass marketing
D)"us and them" paradigms
E)tiered markets
Q3) Why is it important for marketers to understand people's views of themselves?
Q4) Because of the growing diversity in Canada, companies are increasingly targeting minority market segments.
A)True
B)False
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Chapter 5: Managing Marketing Information to Gain Customer Insights
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165 Verified Questions
165 Flashcards
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Sample Questions
Q1) Which of the following statements regarding marketing intelligence is true?
A)Marketing intelligence is privately held information.
B)The advantage of using competitive intelligence is negligible.
C)All marketing intelligence is free.
D)Marketing intelligence is publicly available information.
E)Marketing intelligence gathering is more focused on gaining insights into consumer activities than competitors' activities.
Q2) Major suppliers and resellers are important sources of intelligence information for marketing decision making.
A)True
B)False
Q3) Why has consumer resentment toward marketing research been growing?
Q4) Ethnographic research ________.
A)comes from traditional focus groups
B)is gathered in consumers in their natural habitat (where people live and work)
C)provides secondary data
D)is most popular in the service sector
E)provides data to marketers when observation is impossible
Page 7
Q5) Discuss the makeup and functions of a marketing information system (MIS).
Q6) In what way(s)did Jason's project require descriptive data?
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Page 8
Chapter 6: Understanding Consumer and Business Buyer
Behaviour
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168 Verified Questions
168 Flashcards
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Sample Questions
Q1) What roles do cultural factors play in consumer behaviour?
Q2) What determines whether the buyer is satisfied or dissatisfied with a purchase and what does this imply for sellers?
Q3) ________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world.
A)Personality
B)Perception
C)Selective grouping
D)Learning
E)Self-actualization
Q4) ________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others.
A)Opinion leaders
B)Habitual buyers
C)Social networkers
D)Stealth marketers
E)Buzz marketers
Q5) What are the differences between innovators and early adopters?
Q6) Explain how business demand is derived demand.
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Chapter 7: Segmentation, Targeting, and Positioning
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170 Verified Questions
170 Flashcards
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Sample Questions
Q1) Why might a marketer of laundry detergent be interested in viewing a perceptual positioning map?
Q2) Through talking to numerous competitors at a regional trade show, you learn that most of them use the most popular base for segmenting markets. What is it?
A)demographic
B)lifestyle
C)psychographic
D)behavioural
E)geographic
Q3) Describe how marketers use multiple-segmenting bases to their advantage.
Q4) Most market targeting draws no criticism because it ________ customers.
A)benefits
B)education
C)disadvantages
D)harm
E)expenses
Q5) If Kool-Aid promotes a year-round campaign that "Kool-Aid isn't just a summertime drink," what type of segmentation is being used?
Q6) Explain the four major segmenting variables for consumer markets.
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Chapter 8: Developing and Managing Products and Services
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192 Verified Questions
192 Flashcards
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Sample Questions
Q1) Blair Housewares wants to add new lines of products to its 46-store chain. Managers are correct in believing that the purpose of idea generation is to create a few ideas, and the purpose of succeeding stages is to increase that number.
A)True
B)False
Q2) The business analysis stage represents the first large jump in financial investment in the new-product development process.
A)True
B)False
Q3) Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process.
A)business feasibility
B)feasibility study
C)business analysis
D)product acceptance
E)concept testing
Q4) Give examples of the second level of product, the actual product.
Page 11
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Chapter 9: Brand Strategy and Management
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136 Verified Questions
136 Flashcards
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Sample Questions
Q1) Brand managers try to build a brand personality. How do they do this?
Q2) The fundamental asset underlying brand equity is ________-the value of the customer relationships that the brand creates.
A)the customer mix
B)customer equity
C)line equity
D)service variability
E)the service encounter
Q3) A ________ is a name, term, sign, symbol or design that identifies the maker or seller of a product or service.
A)brand
B)line extension
C)touchpoint
D)label
E)package
Q4) How might Selman & Saks eventually benefit from engaging in licensing?
Q5) A manufacturer has four brand sponsorship options. Describe what they are.
Q6) What is customer equity?
Q7) A company has four choices when it comes to developing brands. Describe what they are.
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Chapter 10: Pricing: Understanding and Capturing
Customer Value
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170 Verified Questions
170 Flashcards
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Sample Questions
Q1) Under which type of geographic pricing strategy does each customer pay the exact freight for the product from the factory to its destination?
A)basing-point pricing
B)freight-absorption pricing
C)FOB-origin pricing
D)dynamic pricing
E)zone pricing
Q2) When a manufacturer seeks a market for by-products and accepts a price that covers more than the cost of storing and delivering those by-products, the manufacturer is able to reduce the main product's price to make it more competitive.
A)True
B)False
Q3) Of the following, which is a poor reason for a company to set prices low?
A)to prevent competition from entering the market
B)to stabilize the market
C)to create excitement for a product
D)to prepare for an easy exit from a market
E)to match a competitor
Q4) If demand is elastic, will sellers consider lowering their prices? Explain.
Page 13
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Chapter 11: Marketing Channels
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125 Verified Questions
125 Flashcards
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Sample Questions
Q1) In a(n)________ marketing system, leadership over production and distribution is assumed through the size and power of one or a few dominant channel members.
A)direct
B)contractual vertical
C)horizontal
D)corporate vertical
E)administered vertical
Q2) The key to managing inventory is to balance the costs and benefits of carrying larger inventories with the costs and benefits of holding less.
A)True
B)False
Q3) Vertical conflicts in distribution channels are conflicts that occur between ________.
A)same levels in the same channel
B)different levels of the same channel
C)same levels of different channels
D)different levels of different channels
E)retailers and customers
Q4) What is the difference between a storage warehouse and a distribution warehouse?
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Chapter 12: Retailing and Wholesaling
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107 Verified Questions
107 Flashcards
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Sample
Questions
Q1) Pawz is a larger retailer that specializes in pet products and services such as pet food, accessories, grooming, toys, and medical treatment. Pawz also has animals available for adoption at all of its many stores located across the nation. Pawz is most likely an example of a ________.
A)convenience store
B)pop-up store
C)category killer
D)lifestyle centre
E)supermarket
Q2) Which term refers to a wholesaler-sponsored group of independent retailers that engages in group buying and common merchandising?
A)factory outlet mall
B)retailer cooperative
C)corporate chain
D)warehouse club
E)voluntary chain
Q3) Describe the promotion tools used by retailers.
Q4) Describe the differences between discount stores and off-price retailers.
Q5) What is the difference between a limited-service and a full-service retailer?
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Chapter 13: Communicating Customer Value: Advertising and
Public Relations
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169 Verified Questions
169 Flashcards
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Sample Questions
Q1) The Geico gecko and Tony the Tiger are examples of ________ used in successful advertising campaigns.
A)slice of life appeals
B)creative endorsements
C)testimonials
D)celebrity spokespeople
E)personality symbols
Q2) The objective-and-task method of setting a promotion budget is the most logical method because it forces management to articulate its assumptions about the relationship between dollars spent and promotion results.
A)True
B)False
Q3) What media options might best benefit Second Avenue's promotional efforts? Explain.
Q4) Developments in communications technology are speeding the movement toward segmented marketing.
A)True
B)False
Page 16
Q5) Give a hypothetical example of testimonial evidence.
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Chapter 14: Personal Selling and Sales Promotion
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169 Verified Questions
169 Flashcards
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Sample Questions
Q1) Identify the seven steps in the selling process. What is often the most difficult step for most salespeople? Why?
Q2) Stahl, Inc. has 1,000 Type-A accounts, each requiring 28 calls per year, and 2,200
Type-B accounts, each requiring 15 calls per year. What is the sales force's workload?
A)40,000 calls
B)41,000 calls
C)50,000 calls
D)61,000 calls
E)71,000 calls
Q3) Why does a salesperson set call objectives?
Q4) Why does a firm's number of prospects always equal or exceed its number of actual customers?
Q5) Few companies provide sales training beyond a few weeks or months for new members of the sales force.
A)True
B)False
Q6) Explain the follow-up step of the selling process.
Q7) Describe the nature of personal selling and the role of the sales force.
Q8) What does a time-and-duty analysis reveal?
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Chapter 15: Direct, Online, Social Media, and Mobile Marketing
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158 Verified Questions
158 Flashcards
Source URL: https://quizplus.com/quiz/29381
Sample Questions
Q1) How could spam harm The Treble Clef?
Q2) Marketers use ________ telephone marketing to receive orders from television ads and catalogs.
A)inbound
B)outbound
C)interactive
D)direct-response
E)business-to-business
Q3) Direct-response television marketing takes on two major forms: ________ and ________.
A)direct-response television advertisements; commercials
B)direct-response television advertisements; interactive TV
C)infomercials; home shopping channels
D)digital catalogues; infomercials
E)interactive TV; kiosks
Q4) How does online marketing provide flexibility for sellers?
Q5) Most companies use direct marketing as their primary channel.
A)True
B)False
Page 18
Q6) Consider ESPN's site. How does the site create a vast, branded sports community?
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Page 19
Chapter 16: The Global Marketplace
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) Which of the following is true of exporting?
A)It is the most complex way to enter a foreign market.
B)It involves the association of companies with host country partners.
C)It typically requires products to be extensively modified for the foreign market.
D)It involves the least change in a company's product lines.
E)It involves a huge investment if done through independent international distributors.
Q2) Excessive host-country regulations are an example of tariffs.
A)True
B)False
Q3) Briefly explain the three basic market entry strategies of entering a foreign market.
Q4) Income distribution generally remains constant across different types of economies. A)True B)False
Q5) Explain management contracting with an example. What are its advantages and disadvantages?
Q6) What is the North American Free Trade Agreement (NAFTA)?
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