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FBLA Marketing Test 7
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FBLA Marketing Test 7
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25 Questions

1. Large retail chains such as WalMart and Target store and distribute their merchandise using
2. A customer's decision to buy a particular product or service may be affected by
3. The primary factor for a business to consider when choosing a distribution channel is
4. Scarcity forces nations to
5. The legal right granted to a person or company to make, use, or sell an invention for a specified period of time is called a
6. In order to be effective in selling, salespeople should be aware that customers go through a series of mental stages when making a purchase. The first stage is identified as
7. The type of promotion that is used to create a favorable image of a business, which in turn may help sales efforts is
8. Obsolescence, lack of profit, or loss of customer appeal would most likely result in a company's decision to
9. Suggestion selling is important to a business primarily because it
10. Placing new or modified products in a selected geographic area to see whether consumers will accept and buy them is called
11. When a business allows their customers to use Visa or MasterCard to buy a product, they are giving the product
12. Which global marketing strategy is being used when a company creates specially designed products or promotions for certain countries or regions?
13. Customers purchase leather shoes for their appearance, easy care, comfort, and longevity. These are examples of purchases based on
14. The promise made in a specific statement concerning the quality of a product is called a(n)
15. Brown's Shoe Store marked down its winter boots from $125 to $100. What is the percent of markdown?
16. The advertising budget of a local business is 2% of anticipated sales. Last year's sales totaled $500,000 and sales are expected to increase by 10% during the coming year. How much should the business budget for advertising next year?
17. The activity that allows a business to design marketing programs that increase sales by making products that customers want is known as
18. Arranging displays, replenishing stock, and keeping the selling area neat and clean are all examples of
19. Intangible items that have monetary value and satisfy personal needs and wants are known as
20. An invoice from a supplier with terms of 2/10, N30 means
21. A retail furniture store purchased ten desks from a supplier for a cost of $4,500 less trade discounts of 5%, 10%, and 20%. What is the net cost of the desks after the trade discounts?
22. The most effective way to present a product to a potential customer is to
23. When a customer considers quality, durability, monetary savings, and service when buying a product, the buying motives are considered
24. Apex Music Store established the following merchandising plan for the month of April: planned sales, $5,100; EOM stock, $9,850; planned reductions, $475; BOM stock, $7,750. What is the store's open-to-buy for the month of April?
25. Derived demand is the term used to identify the relationship between the

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