markets efficiency and the public interest MCQs – Page 6

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
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