markets efficiency and the public interest Mcqs
101. Consumer goods with unique characteristics or brand identification often requiring a special purchase effort are called?
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A. custom products

B. shopping products

C. convenience products

D. specialty products
102. A companys 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 ?
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A. high pressure situations and competitive reaction

B. high sales performance and encourage capturing new accounts

C. spot selling and old product rejuvenation

D. loyalty and perseverance

103. The In suppliers are most likely to get nervous and feel pressure to put their best foot forward in which of the following types of buying situations ?
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A. indirect rebuy

B. modified rebuy

C. new task buying

D. straight rebuy

104. __________ is persons distinguishing psychological characteristics that lead to his or her own environment?
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A. Psychographics

B. Lifestyle

C. Personality

D. Demographics

105. Catalog marketing is big business in the United States. The average house hold receives __________ catalogs per year?
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A. 25

B. 100

C. 50

D. 75

106. Rolls Royce uses which of the following distribution formats ?
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A. Exclusive distribution

B. Intensive distribution

C. Open distribution

D. Selective distribution

107. Private goods are ?
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A. rival in consumption and their benefits are non-excludable

B. non-rival in consumption and their benefits excludable

C. rival in consumption and their benefits are excludable

D. non-rival in consumption and their benefits are nonexcludable:

108. 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?
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A. business

B. government

C. service

D. reseller
109. The __________ is a person within a reference group who because of special skills knowledge personality or other characteristics exerts influence on others ?
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A. opinion leader

B. social role player

C. referent actor

D. facilitator

110. When a marketing research organization chooses a segment of the population that represents the population as a whole, they have chosen a ?
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A. sample

B. group

C. market target

D. bi-variant population

111. If the field salesforce has been supplied with new leads (via the telephone) that have been qualified, they have probably been assisted by ?
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A. sales assistants

B. master salespersons

C. technical support persons

D. telemarketers
112. In terms of special product life cycles a ________ is a basic and distinctive mode expression?
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A. style

B. fad

C. fashion

D. genre

113. successful ________ depends on how well a company blends its people organizational structure decision and reward systems, and company culture into a cohesive program that supports its strategies?
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A. marketing analysis

B. marketing control

C. marketing implementation

D. marketing strategy

114. The first modern environmental movement in the United States began in the ?
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A. mid-1980s

B. 1960s and 1970s

C. 1950s

D. 1940s

115. The primary reason that many companies work to become the low cost producers in their industry is because ?
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A. they can generate more advertising

B. they can set lower prices that that result in greater sales and profits

C. they can please top management

D. they can gain tax advantages

116. The last stage in the selling process in the __________ stage?
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A. Approach

B. closing

C. handling objections

D. follow-up
117. The typical method of retail operation used by supermarkets and catalog showrooms is called ?
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A. full-service retailing

B. service merchandiser

C. limited-service retailing

D. self-service retailing
118. The purpose of strategic planning is to find ways in which the company can best ?
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A. avoid the expense of costly research and development while still getting the benefits

B. avoid paying taxes

C. overcome losses

D. use its strengths to take advantage of attractive opportunities in the environment
119. The Wheeler-Lea Act gives the Federal Trade Commission the power to regulate ?
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A. marketing ethics

B. competitive advertising of objective product benefits

C. interstate commerce

D. unfair and deceptive acts or practices
120. _______ is the step in the selling process in which the salesperson learns as much as possible about a prospective customer before making a sales call?
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A. Handling objections

B. Prospecting

C. Preapproach

D. Approach

121. When producers, wholesalers, and retailers act as a unified system they comprise a ?
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A. horizontal marketing system

B. power-based marketing system

C. vertical marketing system

D. conventional marketing system

122. Yahoo, Infoseek, and Baido are all called ?
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A. software

B. search engines

C. browsers

D. Webcasters

123. The whole class of goods that will be under produced or not produced at all in a completely unregulated market economy are referred to as ?
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A. private goods

B. free goods

C. public goods

D. Pareto goods

124. According to the price/quality strategy matrix when a company overprices its product in relation to its quality it is considered to be using which type of strategy ?
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A. Snob strategy

B. Overcharging strategy

C. Premium strategy

D. Good-value strategy

125. When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?
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A. less than the efficient level of output

B. so that consumer surplus is zero

C. the efficient level of output

D. more than the efficient level of output

126. Technological advances, shifts in consumer tastes, and increased competition all of which reduce demand for a product are typical of which stage in the PLC ?
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A. growth stage

B. decline stage

C. introduction stage

D. maturity stage

127. Which of the following promotional budget methods wrongly views sales as the cause of promotion rather than as the result ?
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A. Affordable method

B. Percentage of Sales method

C. Competitive parity method

D. Objective and task method

128. ________ is setting the price steps between various products in a product the based on cost difference between the products, customer evaluations of different features, and competitors prices ?
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A. Optional-product pricing

B. Product line pricing

C. By-product pricing

D. Captive-product pricing

129. All of the following are commonly recognized promotion budget formal EXCEPT ?
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A. the LIFO method

B. the affordable method

C. the objective and task method

D. the percentage of sales method

130. The Choice between high markups and high volume is part of which of the following retailer marketing decisions ?
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A. Promotion decisions

B. Pricing decisions

C. Target market decisions

D. Produced assortment and services decisions

131. _______ is the concept under which a company carefully integrates and coordinates its may communications channels to deliver a clear consistent and compelling message about the organization and its products?
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A. Integrated international affairs

B. Integrated marketing communications

C. The promotion mix

D. Integrated demand characteristics

132. The fact that services cannot be stored for later use or sale is evidence of their ?
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A. inseparability

B. variability

C. intangibility

D. perishability
133. If a government uses barriers to foreign products such as biases against a foreign companys bids or product standards that go against a foreign companys product features the government is using ?
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A. nontariff trade barriers

B. exchange facilitators

C. Protectionism

D. exchange controls

134. When an international seller sells a plant equipment or technology to another country and agrees to take payment in the resulting products, it is called?
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A. barter

B. buy-back

C. like-value-exchange

D. counterpurchase

135. All of the following are ways that marketing plays a key role in the companys strategic planning EXCETP ?
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A. marketing provides inputs to strategic planners by helping to identify attractive market opportunities

B. marketing is the only discipline that can provide a formal structure for the planning effort

C. marketing provides a guiding philosophy

D. within individual business units marketing designs strategies for reaching the units objectives

136. A(n) _____ are computerized collections of information obtained from data sources within the company ?
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A. marketing research reports

B. retrieval systems

C. internal databases

D. flow diagrams and PERT charts

137. The practice of going after a large share of a smaller market or subsets of a few markets is called ?
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A. turbo marketing

B. undifferentiated marketing

C. concentrated marketing

D. differentiated marketing

138. If a company (considering its options on the product/market expansion grid) chooses to move into different unrelated fields (from what it ha ever done before) with new products as a means to stimulate growth the company would be following which of the following general strategies ?
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A. product development

B. diversification

C. market development

D. market penetrations

139. All of the following are thought to be sources of new product ideas EXCEPT ?
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A. competitors

B. the local library

C. customers

D. internal sources

140. The major advantage of survey research is its ?
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A. simplicity

B. organization

C. structure

D. flexibility
141. The stage is the product life cycle that focuses on expanding market and creating product awareness and trails is the ?
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A. introduction stage

B. decline stage

C. growth stage

D. maturity stage

142. Setting the promotion budget so as to match the budgets of the competition is characteristic of which of the following budget methods ?
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A. Affordable method

B. Competitive parity method

C. Percentage of Sales method

D. Objective and task method

143. A child in the United States is normally exposed to all of the following values EXCEPT ?
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A. material comfort

B. achievement ans success

C. collectivism

D. activity and involvement

144. Marketers are sometimes accused of deceptive practices that lead consumers to believe they will get more value than they actually do. _____ includes practices such as falsely advertising factory of wholesale prices or a large price reduction from a phony high retail price ?
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A. Deceptive pricing

B. Deceptive packaging

C. Deceptive cost structure

D. Deceptive promotion

145. Setting call objectives is done during which of the following stages of the selling process?
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A. Preapproach

B. Prospecting

C. Approach

D. Handling objections

146. _________ describes changes in an individuals behavior arising from experience?
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A. Learning

B. Motivation

C. Modeling

D. Perception

147. All of the following are criticisms leveled against marketing by critics EXCEPT ?
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A. harming consumers through high-pressure selling

B. harming consumers through high prices

C. harming consumers through deceptive practices

D. harming consumers through too many product choices
148. The most logical budget setting method is found in the list below. Which is it ?
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A. Percentage of sales method

B. Competitive parity method

C. Objective and task method

D. Affordable method

149. A _________ is a need that is sufficiently pressing to direct the person to seek satisfaction?
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A. requirement

B. demand

C. want

D. motive
150. All of the following are methods by which a company can divide up its sales responsibilities EXCEPT ?
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A. territorial sales force structure

B. pychographic trait sales force structure

C. product sales force structure

D. customer sales force structure