markets efficiency and the public interest MCQs – Page 3

Practise focused markets efficiency and the public interest questions with marked answers for exam preparation and subject revision.

markets efficiency and the public interest Mcqs

41. If some gain and some lose as the result of a proposed change and it can be demonstrated that the value of the gains would exceed the value of the losses then the change is said to be ?
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A. unequivocally Pareto optimal

B. inefficient.

C. technically efficient.

D. potentially efficient

42. Each salesperson is assigned to an exclusive area in which to sell the companys full line of products or services in which type of salesforce structure ?
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A. Product sales force

B. Hybrid sales force

C. Territorial sales force

D. Customer sales force

43. A _______ is a promotion strategy that calls for using the sales force and trade promotion to move the produce through channels ?
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A. pull strategy

B. blocking strategy

C. push strategy

D. integrated strategy

44. Costs that do not vary with production or sales levels are called ?
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A. variable costs

B. independent costs

C. fixed costs

D. standard costs

45. The biggest of greatest amount of involvement in a foreign market comes through which of the following ?
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A. Direct investment

B. Licensing

C. Joint venturing

D. Exporting

46. _________ is a principle of enlightened marketing that requires that a company seek real product and marketing improvements ?
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A. Sense of mission marketing

B. Innovative marketing

C. Consumer oriented marketing

D. value marketing

47. A company is in the ________ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product ?
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A. marketing strategy

B. product development

C. commercialization

D. business analysis

48. Using a successful brand name to introduce additional items in a given product category under the same brand same (such as new flavors, forms, colors, added ingredients or package seizes) is called a(n)?
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A. multibranding

B. brand extension

C. new brands

D. line extension

49. When a company reviews sales costs and profit projections for a new product to find out whether these factors satisfy the companys objectives they are in which of the following new process development stages ?
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A. Marketing strategy development

B. Business analysis

C. Commercialization

D. Concept development and testing

50. The use of price points for reference to different levels of quality for a companys related products is typical of which product mix pricing strategy ?
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A. Optional-product pricing

B. Captive-product pricing

C. Product line pricing

D. By-product pricing

51. __________ is a philosophy holding that a companys marketing should support the best long-run performance of the marketing system?
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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?
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A. demographic

B. natural

C. economic

D. technological

53. imperfect competition occurs ?
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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 ?
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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 ?
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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 ?
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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?
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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 ?
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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?
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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 ?
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A. Marketing control

B. Marketing implementation

C. Marketing analysis

D. Marketing strategy

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