markets efficiency and the public interest Mcqs
51. __________ is a philosophy holding that a companys marketing should support the best long-run performance of the marketing system?
comments icon0

A. Fundamental marketing

B. Conceptual marketing

C. Enlightened marketing

D. Myopic marketing

52. According to the text the most dramatic of the environments that affect marketing and appears to be now shaping our world is the ___________ environment?
comments icon0

A. demographic

B. natural

C. economic

D. technological
53. imperfect competition occurs ?
comments icon0

A. When the consumption of the good involves an external benefit

B. When firms have some control over price and competition

C. When firms are not profit maximisers

D. Whenever firms are losing money.

54. The total cost to society of producing an additional unit of a good or service is the ?
comments icon0

A. marginal external cost

B. marginal damage cost

C. marginal private cost

D. marginal social cost
55. A __________ is a brand created and owned by a reseller of a product of service ?
comments icon0

A. co-brand

B. licensed brand

C. private brand

D. manufacturers brand private brand

56. R&D and engineering first produce the product concept into a physical product during which of the following stages of the new product development process ?
comments icon0

A. Business analysis

B. Product development

C. Concept development and testing

D. Marketing strategy

57. If a consumer describes a car as being the most economical car on the market than this descriptor is a?
comments icon0
A. belief

B. attitude

C. rule

D. cute

58. Concerns that the manufactures of harmful products such as tobacco have influence on lawmakers to the detriment of the public interest is used as evidence of which criticism of marketing ?
comments icon0
A. Too much political power

B. Too much advertising

C. Cultural pollution

D. Too few social goods

59. ___________ have contractual authority to sell a manufacturers entire output?
comments icon0

A. Rack jobbers

B. Manufacturers agents

C. Purchasing agents

D. Selling agents
60. The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is called ?
comments icon0

A. Marketing control

B. Marketing implementation

C. Marketing analysis

D. Marketing strategy

61. When Micheal Jordan and Tiger Woods use marketing to promote their careers and improve their impact and incomes they are using?
comments icon0

A. nonprofit marketing

B. idea marketing

C. cause-related marketing

D. person marketing
62. Which of the following information forms available to the marketing manager can usually be accessed more quickly and cheaply than other information sources ?
comments icon0

A. Customer profiles

B. Marketing intelligence

C. Marketing research

D. Internal databases
63. In 1985, the Coca-cola Company made a classic marketing blunder with its deletion of its popular Coca-Cola product and introduction of what it called New Coke Analysts now believe that most of the companys problems resulted from poor marketing research. As the public demanded their old Coke back the company relented and reintroduced Coca-Cola Classic (which has regained and surpassed its former position) while New Coke owns only 0.1 percent of the market Which of the following marketing research mistakes did Coca-Cola make ?
comments icon0

A. They failed to account for the Pepsi Challenge taste test in their marketing efforts

B. They did not investigate pricing correctly and priced the product too high

C. They defined their marketing research problem too narrowly

D. They did not investigate dealer reaction and had inadequate distribution

64. All of the following factors can affect the attractiveness of a market segment EXCEPT ?
comments icon0
A. the likelihood of government monitoring

B. the presence of many strong and aggressive competitors

C. actual or potential substitute products

D. the power of buyers in the segments

65. The advantages of audience selectivity no ad competition and personalization apply to which type of media ?
comments icon0

A. Radio

B. Newspapers

C. Television

D. Direct Mail
66. The fact that services are sold, produced and consumed at the same time refers to which of the following service characteristics ?
comments icon0

A. Variability

B. Inseparability

C. Intangibility

D. Perishability

67. Markets fail to produce an efficient allocation of resources, but government also fail because ?
comments icon0

A. the managers of government agencies are trying to maximize the profit of their agency and they ignore the implications that this has on other departments

B. the optimal level of public goods may be too expensive for the society to produce

C. the measurement of social damages and benefits is difficult and imprecise

D. elected officials will act selflessly for the good of society and ignore their own self interest

68. The optimal level of provision of public goods is where society total willingness to pay per unit is equal to the ?
comments icon0

A. total cost of producing the good

B. average cost of producing the good

C. marginal cost of producing the good

D. variable cost of producing the good

69. A set of interdependent organizations involved in the process of making a product or service available for use or consumption by the consumer or business user is called a(n) ?
comments icon0

A. logistics

B. wholesaler

C. retailer

D. distribution channel
70. The total number of item that the company carries within its product lines refers to the ________ of the product mix?
comments icon0

A. depth

B. length

C. consistency

D. width

71. When companies make marketing decisions by considering consumers wants and the long run interests of the company consumer and the general population they are practicing which of the following principle ?
comments icon0

A. Innovative marketing

B. Consumer-oriented marketing

C. Value marketing

D. Societal marketing
72. If Toyota describes one of its cars of the future as being a moderately priced subcompact designed as a second family car to be used arround town; the car is ideal for running errands and visiting friends, then the company has just stated a potential new product in terms of a(n) ?
comments icon0

A. Product idea

B. Product features

C. Product image

D. Product concept
73. A ________ is any activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything?
comments icon0

A. basic staple

B. demand

C. service

D. product

74. If a companys objective were to reach masses of buyers that were geographically dispersed at a low cost per exposure the company would like choose which of the following promotion forms ?
comments icon0

A. Personal selling

B. Public relations

C. Advertising

D. Sales promotion

75. The Coase theorem states that ?
comments icon0

A. public goods should be produced up to the point where the additional benefit received by society equals the additional cost of producing the good

B. the private sector will fail to produce the efficient amount of a public good because of the free-rider problem.

C. if there are external costs in production the government must intervene in the market to assure that the efficient level of output is produced

D. under certain conditions, private parties can arrive at the efficient solution without government involvement
76. Which of the following is NOT one of the five stages of the buyers decision process?
comments icon0

A. information search

B. need recognition

C. brand identification

D. purchase decision

77. If PX > MCX, society gains by ?
comments icon0

A. raising the price of X.

B. production less X

C. Increasing the cost of producing X

D. Producing more X
78. It is fact that there are 24 million left-handed people in the United States however most marketers do not attempt to appeal to or design products for this group because there is little in the way of census data about this is group Therefore, this groups fails in one of the requirements for effective segmentation Which of the following is most likely to apply in this case ?
comments icon0

A. actionable

B. substantial

C. differentiable

D. measurable
79. The goal of the marketing logistics system should be to provide ?
comments icon0
A. A targeted level of customer service at the least cost

B. A targeted level of promotional support

C. A targeted level of transportation expense ratio

D. A targeted level of field support

80. Many U.S firms have sought relief from foreign competition by demanding protectionism policies by the U.S government. A better way for companies to compete is to expand into foreign markets and ?
comments icon0

A. lower prices

B. increase promotion both at home and abroad

C. continuously improve their products at home

D. join into cartels at home

81. The internet evolved from a network created by ________ during the 1960s?
comments icon0

A. the Massachusetts institutes of Technology (MIT)

B. the Commerce Department

C. the Defense Department

D. Northwestern University

82. The type of trade promotion discount in which manufacturers agree to reduce the price to the retailer in exchange for the retailers agreement to feature the manufacturers products is some way is called a(n) ?
comments icon0

A. rebate

B. premium

C. allowance

D. discount

83. 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 markets most viable segments ?
comments icon0

A. Western Europeans

B. Middle Eastern

C. African Americans

D. Hispanics and Asians
84. One of the most promising developments in multivariable segmentation is called ____ where a host of demographic and socioeconomic factors are used ?
comments icon0

A. geothermy segmentation

B. geodemographic segmentation

C. fermagraphic segmentation

D. terragraphic segmentation

85. The idea that when externalities are present private parties can arrive at the efficient solution without government intervention under certain circumstance is known as ?
comments icon0

A. the drop -in-the bucket problem.

B. Arrows impossibility theorem

C. The coase theorem

D. free rider problem

86. Wal-Mart owned Sams club is an example of a retail called a(n) ?
comments icon0

A. factory outlet

B. seconds store

C. warehouse club

D. super specialty store

87. All of the following would be ways to segment within the category of psychographic segmentation EXCEPT ?
comments icon0

A. social class

B. lifestyle

C. occupation

D. personality

88. When a company enters a new product category for which its current brand names are not appropriate it will likely follow which of the following brand strategies ?
comments icon0

A. Line extensions

B. Brand extensions

C. Product extensions

D. New brands
89. A company faces several major decisions in international marketing the first of these decisions is often ?
comments icon0
A. looking at the global marketing environment

B. deciding how to enter markets

C. deciding whether to go international

D. deciding which markets to enter

90. The orange juice manufacturers know that orange juice is most often consumed in the mornings. However they would like to change this and make the drink acceptable during other time periods during the day Which form of segmentation would they need to work with and establish strategy reflective of their desires ?
comments icon0

A. gender segmentation

B. age and lief-cycle segmentation

C. benefit segmentation

D. occasion segmentation
91. The place in the business buying behavior model where interpersonal and individual influences might interact is called the ?
comments icon0

A. response

B. environment

C. stimuli

D. buying center
92. ________ are ads that appear while subscribers are surfing online services or Web sites, including banners, pop-up windows, tickers and roadblocks?
comments icon0
A. Online ads

B. Online broadcasts

C. Online bullets

D. Online infomercials

93. When an importing country sets limits on the amount of goods it will accept in certain product categories it is called a(n) ?
comments icon0

A. tariff

B. barrier

C. embargo

D. quota
94. Traditionally companies have defined their business in product terms or in technological terms however mission statements should be all of the following EXCEPT ?
comments icon0

A. market oriented

B. motivating

C. a statement of religion

D. based on distinctive competencies

95. The shrinking or distances due to technological advances such as computer and fax connections by telephone are one characteristic of what new challenge to marketing ?
comments icon0

A. The micro-chip revolution

B. Rapid globalization

C. The call for more socially responsible marketing

D. The changing world economy

96. Coginitive dissonance occurs in which stage of the buyer decision process model ?
comments icon0

A. Information search

B. Evaluation of alternative

C. Postpurchase behaviour

D. Need recognition

97. The course of a products sales and profits over its lifetime is called ?
comments icon0
A. the product life cycle

B. the dynamic growth curve

C. the adoption cycle

D. the sales chart

E. the adoption cycle

98. The study of human population in terms of size, density, location age gender, race occupation and other statistics is called ?
comments icon0
A. Demography

B. Ethnography

C. Geothermy

D. Hemos-popography

99. In determining salesforce size, when a company groups accounts into different size classes and then determines the number of salespeople needed to call on them the desired number of times it is called the ?
comments icon0

A. Key-size approach

B. call-service appraoch

C. work-load appraoch

D. product-need appraoch

100. A _____ is a good offered either free or at low cost as an incentive to buy a product ?
comments icon0

A. spiff

B. price pack

C. premium

D. patronage reward