markets efficiency and the public interest MCQs – Page 4

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

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

B. Inseparability

C. Intangibility

D. Perishability

67. Markets fail to produce an efficient allocation of resources, but government also fail because ?
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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 ?
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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) ?
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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?
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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 ?
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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) ?
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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?
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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 ?
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A. Personal selling

B. Public relations

C. Advertising

D. Sales promotion

75. The Coase theorem states that ?
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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?
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A. information search

B. need recognition

C. brand identification

D. purchase decision

77. If PX > MCX, society gains by ?
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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 ?
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A. actionable

B. substantial

C. differentiable

D. measurable

79. The goal of the marketing logistics system should be to provide ?
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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 ?
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A. lower prices

B. increase promotion both at home and abroad

C. continuously improve their products at home

D. join into cartels at home

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