Markets, Efficiency & The Public Interest Mcqs - Set 2

1)   __________ has the advantage of being high in selectivity low cost; immediacy; and interactive capabilities?

a. Direct Mail
b. Outdoor
c. Online
d. Radio
Answer  Explanation 

ANSWER: Online

Explanation:
No explanation is available for this question!


2)   One common misuse of marketing research findings in contemporary business is the tendency for marketing research tp ?

a. become a vehicle for pitching the sponsor’s products
b. become a vehicle for pitching the sponsor’s products
c. become a means for raising prices
d. become a means of unfair competition
Answer  Explanation 

ANSWER: become a vehicle for pitching the sponsor’s products

Explanation:
No explanation is available for this question!


3)   The place in the business buying behavior model where interpersonal and individual influences might interact is called the ?

a. environment
b. response
c. stimuli
d. buying center
Answer  Explanation 

ANSWER: buying center

Explanation:
No explanation is available for this question!


4)   The type of trade promotion discount in which manufacturers agree to reduce the price to the retailer in exchange for the retailer’s agreement to feature the manufacturer’s products is some way is called a(n) ?

a. discount
b. allowance
c. premium
d. rebate
Answer  Explanation 

ANSWER: allowance

Explanation:
No explanation is available for this question!


5)   If your company were to make a product such as a suit of clothes and sold that product to a retailer your company would have sold to the __________ merket?

a. reseller
b. business
c. government
d. service
Answer  Explanation 

ANSWER: reseller

Explanation:
No explanation is available for this question!


6)   Given recent information about growth trends and growth potential of ethnic populations within the U.S market which of the following ethnic groups would be a best bet to double during the next half century and become one of the U.S market’s most viable segments ?

a. Hispanics and Asians
b. African Americans
c. Western Europeans
d. Middle Eastern
Answer  Explanation 

ANSWER: Hispanics and Asians

Explanation:
No explanation is available for this question!


7)   Catalog marketing is big business in the United States. The average house hold receives __________ catalogs per year?

a. 25
b. 50
c. 75
d. 100
Answer  Explanation 

ANSWER: 50

Explanation:
No explanation is available for this question!


8)   The fact that services cannot be stored for later use or sale is evidence of their ?

a. intangibility
b. inseparability
c. variability
d. perishability
Answer  Explanation 

ANSWER: perishability

Explanation:
No explanation is available for this question!


9)   When a company reviews sales costs and profit projections for a new product to find out whether these factors satisfy the company’s objectives they are in which of the following new process development stages ?

a. Concept development and testing
b. Commercialization
c. Business analysis
d. Marketing strategy development
Answer  Explanation 

ANSWER: Business analysis

Explanation:
No explanation is available for this question!


10)   If a consumer describes a car as being the most economical car on the market than this descriptor is a?

a. rule
b. attitude
c. belief
d. cute
Answer  Explanation 

ANSWER: belief

Explanation:
No explanation is available for this question!


11)   __________ is a philosophy holding that a company’s marketing should support the best long-run performance of the marketing system?

a. Enlightened marketing
b. Myopic marketing
c. Fundamental marketing
d. Conceptual marketing
Answer  Explanation 

ANSWER: Enlightened marketing

Explanation:
No explanation is available for this question!


12)   The primary reason that many companies work to become the low cost producers in their industry is because ?

a. they can generate more advertising
b. they can please top management
c. they can gain tax advantages
d. they can set lower prices that that result in greater sales and profits
Answer  Explanation 

ANSWER: they can set lower prices that that result in greater sales and profits

Explanation:
No explanation is available for this question!


13)   All of the following are criticisms leveled against marketing by critics EXCEPT ?

a. harming consumers through high prices
b. harming consumers through deceptive practices
c. harming consumers through high-pressure selling
d. harming consumers through too many product choices
Answer  Explanation 

ANSWER: harming consumers through too many product choices

Explanation:
No explanation is available for this question!


14)   A price reduction to buyers who buy in large volumes is called a(n) ?

a. quantity discount
b. cash discount
c. seasonal discount
d. trade discount
Answer  Explanation 

ANSWER: quantity discount

Explanation:
No explanation is available for this question!


15)   A company’s compensation plan should reflect its overall marketing strategy For example if the overall strategy is to grow rapidly and gain market share the compensation plan should reward ?

a. loyalty and perseverance
b. spot selling and old product rejuvenation
c. high sales performance and encourage capturing new accounts
d. high pressure situations and competitive reaction
Answer  Explanation 

ANSWER: high sales performance and encourage capturing new accounts

Explanation:
No explanation is available for this question!


16)   In a example discussed in your text Johnson & Johnson’s recall of their Tylenol product following the discovery that several bottles of Tyloenol had been laced with cyanide is consistent with which business philosophy ?

a. The marketing concept
b. The product concept
c. The selling concept
d. The societal marketing concept
Answer  Explanation 

ANSWER: The societal marketing concept

Explanation:
No explanation is available for this question!


17)   All of the following are ways that marketing plays a key role in the company’s strategic planning EXCETP ?

a. marketing provides a guiding philosophy
b. marketing is the only discipline that can provide a formal structure for the planning effort
c. marketing provides inputs to strategic planners by helping to identify attractive market opportunities
d. within individual business units marketing designs strategies for reaching the unit’s objectives
Answer  Explanation 

ANSWER: marketing is the only discipline that can provide a formal structure for the planning effort

Explanation:
No explanation is available for this question!


18)   According to the text the most dramatic of the environments that affect marketing and appears to be now shaping our world is the ___________ environment?

a. natural
b. demographic
c. economic
d. technological
Answer  Explanation 

ANSWER: technological

Explanation:
No explanation is available for this question!


19)   A _________ is a need that is sufficiently pressing to direct the person to seek satisfaction?

a. motive
b. want
c. demand
d. requirement
Answer  Explanation 

ANSWER: motive

Explanation:
No explanation is available for this question!


20)   The purpose of strategic planning is to find ways in which the company can best ?

a. overcome losses
b. use its strengths to take advantage of attractive opportunities in the environment
c. avoid paying taxes
d. avoid the expense of costly research and development while still getting the benefits
Answer  Explanation 

ANSWER: use its strengths to take advantage of attractive opportunities in the environment

Explanation:
No explanation is available for this question!