General Business Questions: Marketing refers to

Subject: Business    / General Business

31. Marketing refers to__________.

the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large

the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers

the production of products or services that will generate the highest return on investment

the process of identifying target market segments for a product or service

32. When two regression models applied on the same data set have the same response variable but a different number of explanatory variables, the model that would evidently provide the better fit is the one with a__________.

lower standard error of the estimate and a higher coefficient of determination

higher standard of error of the estimate and a higher coefficient of determination

lower standard error of the estimate and a higher adjusted coefficient of determination

higher coefficient of determination and a lower adjusted coefficient of determination

33. _____ is the process of converting meaning into messages composed of words and nonverbal signals.





34. The DeBeers company is a profit-maximizing monopolist that exercises monopoly power in the distribution of diamonds. If the company earns positive economic profits this year, the price of diamonds will:

Exceed both the marginal cost and the average total cost of diamonds.

Exceed the marginal cost of diamonds but equal to the average total cost of diamonds.

Be equal to the average total cost of diamonds.

Be equal to the marginal cost of diamonds.

35. What is true of the features used to judge a person’s credibility?

Mannerisms and age are two valid features that can be used to judge a person’s credibility.

Well-educated individuals can be highly relied upon as guides to ethical values.

Individuals can accurately determine a person’s credibility based on physical characteristics.

Ethnicity, gender, and accent are inapt characteristics for judging credibility.

36. A receptive developmental network is__________.

made up of strong ties to several developers from four different social systems

made up of a few weak ties from one social system

made up of weak ties to multiple developers from a variety of social systems

made up of numerous strong ties to developers from one social system

37. The interdisciplinary field dedicated to understanding and managing people at work is called:

organizational behavior

management theory

management dynamics

organizational dynamics

38. Which of the following can be represented by a discrete random variable?

The time of a flight between Chicago and New York

The average distance achieved in a series of long jumps

the circumference of a randomly generated circle

The number of defective lightbulbs in a sample of five

39. Annie, an employee who often attributes her team failures to bad luck, attributes other teams’ failures to personal shortcomings. Which of the following cognitive biases do Annie’s attributions exemplify?

In-group bias

Hindsight bias

Belief bias

Self-deception bias

40. Regarding using personality testing as part of the hiring process, experts have concluded that:

There are many valid instruments available to managers to test for personality types.

Only the Big Five should be used as predictors of job performance.

The effects of personality on job performance are so large it cannot be ignored by managers.

The typical personality test is not a valid predictor of job performance.

41. Microeconomics and macroeconomics are:

Virtually identical, though one is much more difficult than the other

Interrelated because what happens in the economy as a whole is based on individual decisions

Interrelated because both are often taught by the same instructors

Not related because they are taught separately

42. Marketing research refers to__________.

the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions

the use of information technology to find objective solutions to a marketing problem

the science of using observable human behavior in order to identify and solve marketing problems

the process of systematically collecting and analyzing information in order to define a marketing problem

43. In order to summarize qualitative data, a useful tool is a____________.

frequency distribution

stem-and-leaf diagram



44. Suppose that college tuition is higher this year than last and that more students are enrolled in college this year than last year. Based on this information, we can best conclude that:

this situation has nothing to do with the law of demand.

despite the increase in price, quantity demanded rose due to some other factors changing.

the demand for a college education is positively sloped.

the law of demand is invalid.

45. In the context of developing persuasive messages, which of the following is most likely to help you demonstrate a voice of competence?

focusing only on logical appeals

using only emotional appeals in your persuasive messages

developing strong ideas in the interest of your audience

adopting the tone of mass advertising such as over-the-top appeals

46. Frequent, abusive, threatening phone calls by creditors are most likely to provoke the basis for a claim of _____________.

intentional infliction of emotional distress

false imprisonment and malicious prosecution


malicious representation

47. The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.


transnational anthropology

cross-cultural analysis

market synthesis

48. Fred takes Betty to dinner at a very expensive and exclusive restaurant. The menu does not mention prices. The server takes their order, and both Betty and Fred enjoyed the meal immensely. When the bill comes, Fred refuses to pay because the menu had no prices and because he and the server never engaged in language indicating an offer and acceptance. The server said, “Are you ready to order?” and when Fred said “Yes,” the server merely asked, “What may I get you tonight?”

Fred must pay based on expressed contract theory.

Fred must pay based on a promissory estoppel theory.

Fred must pay based on an implied-in-fact contract theory.

Fred is correct because no contract was formed.

49. Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________.

marketing mix

media strategy

communication source

promotional mix

50. According to the Classical growth model, an economy that increases its saving will grow:

Slowly because consumption and aggregate demand will be reduced.

Quickly since the increase in saving will permit more rapid technological progress.

Quickly since the increase in saving will permit greater investment.

Slowly because interest rates will fall, causing investment to decline.