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25 Marketing Multiple Choice Questions
1. As a market researcher for a cable television company seeking to determine the number of multi-dwelling buildings in a selected neighborhood, your best chance of acquiring this information quickly would be a. census information available on the Internet. b. the local Better Business Bureau. c. interviews with neighborhood leaders. d. the local Chamber of Commerce. e. an aerial survey of surrounding neighborhoods. 2. Everyday low pricing is a strategy devoted to continuous low prices as opposed to a. seasonal changes in prices based on current demand. b. purely cost-based prices that vary as the manufacturer's costs vary. c. relying on short-term price-cutting tactics such as cents-off coupons, rebates, and special sales. d. prices that are set daily, weekly, or monthly in reaction to competitors' actions. e. prices based on what the firm feels the market will bear. 3. In order to implement customer relations management, there must be a. a top-down commitment permeating every aspect of a firm's business. b. a certain minimum size for the firm -- tiny firms just can't do it. c. the recognition that individual firms can do this by themselves without regard to their relationships with other firms or their customers. d. certain limits to a firm's operational size -- a company with far-flung operations is not in a position to apply this technique. e. the precedent of some other firm in the industry having done so. 4. Which of the following statements is correct? a. Marketing is the term used to refer only to the sales function within a firm. b. Marketing managers usually don't get involved in production or distribution decisions. c. Marketing is an activity that considers only the needs of the organization, not the needs of society as a whole. d. Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives. e. Marketing is the term used to refer only to the advertising function
with less emphasis on consultation and problem solving. d. New Hampshire. Which of the following statements is most true about U. d. chief information officer. offers fewer job prospects for those who wish to enter the profession. many firms have created a new position tostudy the social environment's effect on their organization. research analysis. involves more use of communications and computer technologies. b. This retailing format. the type of consumer problem solving that typically results is a. This type of facility is known as a lifestyle center. The title of this position is typically a. evaluative problem solving. c.within a firm. intellectual property manager. e. seeks to offer a combination of shopping. requires fewer and less intensive communication skills than previously. selling today a. 9. entertainment. the linear strip. Internet users? a. averaging 300. Most such centers are now known as downtowns. and Colorado are among the least likely to use the Internet. extended problem solving. director of norms and standards. 8.000 square feet in size. Low income rural dwellers account for less than three percent of . d. limited problem solving. This describes the earliest type of planned shopping center. and restaurants in an attractive environment preserving the intimacy of neighborhood retailing. government effects officer. e. c.S. b. manager of public policy research. a. Because personal selling is taking on a more prominent role in the corporate marketing mix. When brands are difficult to categorize or evaluate and significant effort is required to analyze purchase alternatives. b. c. extensive analysis buying. c. e. Such a shopping center is known as a power center. 6. has become a less attractive career for college graduates. b. 7. e. People in Alaska. d. In recognition of the importance of the social-cultural environment in marketing decision making. 5. c. places greater focus on short-term persuasion. A facility of this magnitude is called a national mall. b. African Americans are three times more likely to be Internet users than Americans of Asian or Pacific Island origin.
Caucasian Americans typically use the Internet only at work.A product which has achieved the status of brand insistence a. 80/20 principle. trading promotion. e. b. purchase aggregation basis. has achieved a monopoly position with its consumers. 12.All of the following statements about the FTAA are correct except a. cross promotion. . b. c. promotion strategy. packaging strategy. must have a distinctive "identity character" like the Pillsbury Doughboy. spending push money. partnership advertising. b. e.Internet users. the NAFTA nations would become members of the FTAA. 10. b.The idea that a large percent of a product's sales revenues come from a relatively small. cohort effect. mutual support. d. but only if it is available. 13. e. the general term for the activity is a. 14. traditional believers effect. increasing its probability of purchase. must be price competitive if it is to keep its status. product strategy. loyal group of its purchasers is the a. d. c. d. d. d. The median age of Internet users is expected to decline in the future. the FTAA would be the largest free trade zone in the world. e. distribution strategy. c. has the advantage of being preferred to other products. e. moves from the unknown to the known category.Television advertising that suggests that consumers take a proactive role in family health care by requesting that their physicians prescribe specific medications they see advertised raises issues of ethics in a. 11. b. true blue syndrome. price strategy. c.When marketing partners share the cost of a promotional campaign that meets their mutual needs.
b. Internet retailers have suffered significantly from the dot. c. Internet retailers have been one of the most uniformly successful classes of businesses on the Internet. not its quality. quick purchase process because of a large number of service representatives. d. d. 17.The gap between what customers expect and what they receive when dealing with a firm is a. and longlived products. Retailers that combine an online operation with a physical storeoperation have generally been more successful than purely Internet retailers. the 2004 free trade agreement between the U. e. and South America. the FTAA would include nations from North and South America and southeast Asia. c. e. b. larger physical location. everyone who is involved in any aspect of its buying action. a designated buying team that oversees the entire process of procurement. and buyers. deciders. related to the price they paid for something. . the purchasing task force that professionally buys hard goods and tooling. but retailers of services are nonexistent. high volume of perishable items. Central. reduced shoplifting losses. 15. a group of people formally assigned to participate in the buying process.com bust. 18. e. 16.All of the following statements concerning Internet retailers are correct except: a. the FTAA would include nations from North. with many failing. ordering directly from vendors to fill orders they receive via their Web sites. Internet retailers usually maintain little or no inventory. c.c. e. inexpensive warehouse space. Retailers of tangible goods are plentiful on the Internet. offering a very small number of high volume items. d. formally designated gatekeepers.Showroom retailers are able to offer low prices as a result of a.A company's buying center encompasses a. b. and Chile was a step toward a comprehensive FTAA. d.S.
19. Europeans have never responded to direct-by-television sales efforts. not objective. b. internal organizational weaknesses prevent taking advantage of an opportunity. organizational strengths grasp opportunities. personal letters from competitors c. the price and perceived value of the product . environmental threats attack organizational weaknesses. organizational strengths prevent improving environmental weaknesses. Internet messages e. personal selling d. which of the following is not one of the ways in which a customer may have contact with the organization? a. media advertising 21. c. c. one measure of their satisfaction with a firm and its products.Which of the following statements about the international aspects of distribution strategy is true? a. which of the following would most likely be the factor having the greatest influence on the decision to buy a homogeneous shopping product? a. e. Switzerland's train system. e. the Volksbahn. e. the brand name of the product d. d. Transportation systems and warehousing facilities may be unavailable or of poor quality in a given foreign market. Because of different cultural approaches to business. b. is of especially poor quality. Distribution in a foreign country is best handled by government agencies rather than left to the discretion of an individual firm. direct mail b. environmental threats are posed to organizational strengths. one of the traditional methods of testing new products. a "vulnerability" occurs when a.Of the following. 20. international marketers should avoid local distributors.In SWOT analysis. impossible to measure because it's subjective.b. the store's name and reputation c. c. the product's style b. d. 22.In an integrated marketing communications program. d. always positive because the higher of the two values is counted first.
d. d. candies.Profit maximization is a. total cost and total revenue are equal at all levels of demand. 24. tissue. determined by the point at which the marginal revenue curve intersects the marginal cost curve.e. nostalgic products and retro toys like Sock Monkey. the calculated elasticity of demand is less than 1. e. achieved by most firms in the marketplace. automotive motor oil and gasoline. b. c. the demand curve and the supply curve do not cross. the addition to total costs balanced by the increase in total quantity sold. paper towels. and baking goods. c. and plastic utensils. c.Demand is said to be inelastic when a. d. headache and cold remedies. e. the calculated elasticity of demand is equal to 1. uniqueness of the product 23.Examples of products having target markets differentiated by age group are a. b. the calculated elasticity of demand is greater than 1. a volume pricing objective. 25. b. not a pricing objective. e. . cookies.
principals. principals. B.Jensen and Meckling showed that __________ can assure themselves that the __________ will make optimal decisions only if appropriate incentives are given and only if the __________ are monitored. agents. principals.__________ is concerned with the maximization of a firm's earnings after taxes. agents 2. B. agents. A. EPS maximization.Shareholder wealth maximization. principals. 4. Profit maximization. agents. Stakeholder maximization. EPS maximization 3. . C. Shareholder wealth maximization B. principals D.Which of the following statements is correct regarding profit maximization as the primary goal of the firm? A. agents B. Profit maximization considers the firm's risk level. agents. D. Profit maximization will not lead to increasing short-term profits at the expense of lowering expected future profits. principals C.What is the most appropriate goal of the firm? A. A. Profit maximization C. Stakeholder maximization D.Financial queshions : 1. A.
Profit maximization does consider the impact on individual shareholder's EPS. and considering environmental issues. Investment management D. A. 5. A.A concept that implies that the firm should consider issues such as protecting the consumer. Agency theory D. Budgets and forecasts B. Asset management C. Social responsibility 7. Profit maximization is concerned more with maximizing net income than the stock price. Social responsibility 6. asset management . Financial management B. supporting education.Which of the following is not normally a responsibility of the treasurer of the modern corporation but rather the controller? A. Financial management B. Financing management 8. Profit maximization C. D. Profit maximization C.__________ is concerned with the branch of economics relating the behavior of principals and their agents. Agency theory D.The __________ decision involves determining the appropriate make-up of the right-hand side of the balance sheet. A. maintaining fair hiring practices. paying fair wages.C.
team player. 10. cross-functional capabilities 11.To whom does the Treasurer most likely report? A. investment D. B.The authors of your textbook suggest that you need to understand financial management even if you have no intention of becoming a financial manager. specialist.The __________ decision involves a determination of the total amount of assets needed. Board of Directors. One reason is that the successful manager of the not-too-distant future will need to be much more of a __________ who has the knowledge and ability to move not just vertically within an organization but horizontally as well. C. capital budgeting 9. Chief Executive Officer.B. the composition of the assets. D. not the exception. and whether any assets need to be reduced. eliminated. technician. Chief Financial Officer. or replaced. A. quantitative skills D. Developing __________ will be the rule. Vice President of Operations. . general business skills C. specialties B. generalist. financing C.
Use the income statement to determine earnings after taxes (net income) and divide by the forecasted period's earnings after taxes. D. Use the income statement to determine earnings after taxes (net income) and divide by the previous period's earnings after taxes. Use the income statement to determine earnings after taxes (net income) and divide by the number of common and preferred shares outstanding. what is the most important of the three financial management decisions? A.A. C. Use the income statement to determine earnings after taxes (net income) and divide by the number of common shares outstanding. investment D. B. Financing decision. Then subtract 1 from the previously calculated value. 14. investment D.The __________ decision involves efficiently managing the assets on the balance sheet on a day-to-day basis. accounting 12. accounting . 13.According to the text's authors. financing C. asset management B. Investment decision.How are earnings per share calculated? A. Asset management decision. A. Accounting decision. D. especially current assets. financing C. Then subtract 1 from the previously calculated value. B. C. asset management B.
customers 18. Shareholder wealth maximization B.All constituencies with a stake in the fortunes of the company are known as __________.Which of the following is not normally a responsibility of the controller of the modern corporation? A.15. 19. C. EPS maximization ignores the firm's risk level.__________ is concerned with the maximization of a firm's stock price. Cost accounting. Stakeholder welfare maximization . D. EPS maximization is concerned with maximizing net income. 17. Asset management.Which of the following is not a perquisite (perk)? A. Financial reporting to the IRS. Expensive office. B. stakeholders C. Budgets and forecasts. 16. creditors D. EPS maximization naturally requires all earnings to be retained. A. A. EPS maximization does not specify the timing or duration of expected EPS. B. Company-provided automobile. Country club membership. C. D. shareholders B. B. C. Salary.Which of the following statements is not correct regarding earnings per share (EPS) maximization as the primary goal of the firm? A. D. Profit maximization C.
and common shareholders. D. Suppliers. Board of Directors. EPS maximization 20.D. Suppliers.Corporate governance success includes three key groups. and customers. and employees. B. employees. Common shareholders. executive officers. C. Which of the following represents these three groups? A. . managers. managers. and customers.
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