Midterm

Topics: Maslow's hierarchy of needs, Marketing, Demographics Pages: 3 (1393 words) Published: October 27, 2014
FSH 250 Fundamentals of Buying 1 Fall 2014 Semester MIDTERM EXAM (Total of 10 pages including this page) Ricardo Sison, CPA, MBA, MA STUDENT NAME __________________________ RAW SCORE I. ______ STUDENT ID NUMBER _____________________ II. ______ TOTAL LETTER GRADE _____ ----------------------------------------------------------------------------------------------------------- INSTRUCTIONS Please read carefully the instructions for each part of the test. There are two parts to this major exam. Part I is the theoretical aspect of the test and Part II is on retail math, forecasting, and sales mix. You are to use the same paper provided here for your answers. You can write at the back of the paper if you need additional space. A separate instruction for Part II will be given on how to submit and download your answers. ------------------------------------------------------------------------------------------------------------ ACT 1 ______ ACT 2 ______ ACT 3 _______ TOTAL_______ PART I TRUE OR FALSE Encircle T if you believe the statement is TRUE and F if FALSE in the answer sheet provided. If you decide to change your answer cross out your first answer and encircle your new answer. 1. The belief that all business activities should be geared toward satisfying the wants and needs of consumers is based on the concept of marketing. T F2. Each culture contains groups of people with shared value system based on common life experiences and situations. T F3. Younger consumers are better off financially than mature consumers. They are ideal market for exotic travel, restaurants, high-tech home entertainment products, leisure goods and services. T F4. Outlet stores primarily sell one specific product line and are based on the concept of meeting the needs of a particular market segment. T F 5. After purchasing the product, the...
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