markets efficiency and the public interest Mcqs
151. A(n) ________ is a name term sign symbol or design, or a combination of these that identifies that maker or seller of a product or service ?
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A. brand

B. logo

C. Product feature

D. sponsorship

152. In a example discussed in your text Johnson & Johnsons recall of their Tylenol product following the discovery that several bottles of Tyloenol had been laced with cyanide is consistent with which business philosophy ?
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A. The societal marketing concept

B. The marketing concept

C. The selling concept

D. The product concept

153. ________ is screening new product ideas in order to spot good ideas and drop poor ones as soon as possible?
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A. Idea generation

B. Idea screening

C. Brainstorming

D. Concept development and testing

154. Joining with foreign companies to produce or market products and services is called ?
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A. joint venturing

B. direct exporting

C. indirect exporting

D. licensing

155. The government increase the minimum wage. The National Association of Fast Food Restaurants hires you to determine the impact that this higher minimum wage will have on it industry. This is an example of ?
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A. partial equilibrium analysis

B. general equilibrium analysis

C. specific equilibrium analysis

D. industry equilibrium analysis

156. Successful service companies focus their attention on both their customers and their employees they understand ________ which links service firm profits with employee and customer satisfaction ?
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A. service-profit chains

B. interactive marketing

C. service differentiation

D. internal marketing

157. If an advertiser wants flexibility timeliness good local market coverage broad acceptability, and high believability the advertiser will probably choose which of the following mass media types ?
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A. Direct Mail

B. Television

C. Newspapers

D. Radio

158. __________ has the advantage of being high in selectivity low cost; immediacy; and interactive capabilities?
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A. Outdoor

B. Online

C. Radio

D. Direct Mail

159. Anything that can be offered to a market for attention acquisition, use, or consumption that might satisfy a want or need is called a(n) ?
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A. demand

B. product

C. idea

D. service

160. Which of the following is foreign owned (even through it is traditionally thought of as a U.S company) ?
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A. Xerox

B. IBM

C. Universal Studios

D. Kodak

161. Drop shippers perform which of the following functions ?
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A. Sells jewelry out of a catalog

B. Stocks the bread rack in a grocery store

C. Assumes title and ships coal, lumber or heavy equipment to a buyer

D. Maintains, owns and stocks a CD display in a grocery store

162. A company is practicing ________ if it focuses on subbasements with distinctive traits that may seek a special combination of benefits ?
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A. micro marketing

B. niche marketing

C. segment marketing

D. mass marketing

163. _______ beliefs values are open to some degree of change ?
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A. Crucial

B. Secondary

C. Core

D. Primary

164. The ______ holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency) ?
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A. product concept

B. marketing concept

C. production cost expansion concept

D. production concept
165. _________ are products bought by individuals and organizations for further processing or for use in conducting a business?
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A. Specialty products

B. Consumer products

C. Services

D. Industrial products
166. When personal interviewing involves inviting six to ten people to gather for a few hours with a trained interviewers to talk about a product service, or organization the method is called ?
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A. focus group interviewing

B. Probing

C. Selective sponsorship

D. the Delphi method

167. According to Engels law as income rises ?
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A. The percentage spent on savings remains constant

B. The percentage spent on food rises

C. The percentage spent on other categories increase

D. The percentage spent on housing increases