Introduction to Business Multiple Choice Questions
Introduction to Business Multiple Choice Questions
Question 1
All of the following are outcomes associated with changes in digital technology and the rise of the Internet EXCEPT:
mass customization.
cognitive dissonance.
new types of promotional tools and methods.
a shift in power from producers to customers.
4 points
Question 2
The relevant concept of value in marketing is based on the:
objective measure of quality exclusively.
customer’s belief that a product has a better relationship than its competitors between the cost and the benefits.
ability to buy the product at the lowest possible cost irrespective of the decrease in quality.
form utility of the product.
4 points
Question 3
The biggest disadvantage of observation research is that it:
tends to be extremely expensive.
yields little or no insight into the motivation behind the observed behavior.
generates secondary data rather than primary data.
focuses on what people say rather than what they actually do.
4 points
Question 4
Which of the following scenarios exemplifies green marketing?
Janet sells home-made pickles and jams.
Claire sells solar-powered jackets.
Sam volunteers at a local self-help group.
Christine gives money to a nonprofit organization.
4 points
Question 5
__________ holds that delivering unmatched value to customers is the only way to achieve long-term profitability for the organization.
The marketing concept
Market segmentation
Consumer behavior
The product strategy
4 points
Question 6
Rapid improvements in digital technology and the rise in Internet usage over the past 20 years have:
shifted the balance of power away from customers and toward producers.
decreased the costs of marketing new products and services.
increased the costs of distributing new products and services.
contributed to a movement away from mass customization and toward demographic marketing exclusively.
4 points
Question 7
When Suzanne was shopping for school supplies in the mall, she was approached by a woman with a clipboard, asking questions about her preference for jeans. Therefore, Suzanne is part of __________ research.
secondary
unobtrusive
survey
observation
4 points
Question 8
__________ is a vital starting point for most marketers.
Psychographics
Analyticals
Demographics
Cultural awareness
4 points
Question 9
Jesse is the marketing manager for a large Midwest-based producer of food products. He is in the process of developing the __________, which takes into consideration the marketing strategies for product, price, promotion, and place.
competitive mix
value chain
marketing environment
marketing mix
4 points
Question 10
A well-chosen target market embodies the following characteristics:
size, profitability, accessibility, and limited competition.
size, limited profitability, accessibility, and competition.
limited size, profitability, accessibility, and intense competition.
size, profitability, limited accessibility, and intense competition.
4 points
Question 11
In its broadest sense, __________ refers to an organization’s ongoing efforts to create positive relationships with its consumers, employees, suppliers, the community, the general public, and the government.
publicity
advertising
sales promotion
public relations
4 points
Question 12
__________ involves purchasing the right to use another company’s brand name or symbol.
Diffusion
Exporting
Branding
Licensing
4 points
Question 13
A product has three product layers. They are the:
implied benefit, explicit benefit, and combined benefit.
physical form, intangible form, and perceived form.
core benefit, actual product, and augmented product.
external layer, internal layer, and environmental layer.
4 points
Question 14
__________ refers to marketing activities designed to stimulate wholesalers and retailers to push specific products more aggressively over the short term.
Brand equity
A pull strategy
Publicity
Trade promotion
4 points
Question 15
In which of the following stages of a product’s life cycle would heavy advertising reinforce the brand positioning strategy?
Growth
Maturity
Decline
Introduction
4 points
Question 16
Sponsorships typically have which of the following characteristics?
It is expected they will experience healthy worldwide growth in the next few years.
It is the newest form of product promotion.
It is one of the least effective promotional channels when it comes to reaching a specific target market.
It is expected that sponsorships will thrive in the U.S. in the next few years at a much faster rate than in other countries.
4 points
Question 17
Successful product differentiation requires that the:
difference be real rather than merely perceived.
marketers put most of their efforts into developing an appropriate brand name.
product not only be different from those of competitors but also be better.
products have both higher quality and higher cost than those of the competition.
4 points
Question 18
What do Mary Kay Cosmetics, The Pampered Chef, and Tupperware have in common?
They are intensive distribution, nonstore retailers.
They are multilevel marketers.
They earn the majority of their revenue from direct response marketing.
They are a part of the wheel of retailing.
4 points
Question 19
Many insurance companies utilize __________, while __________ often handle real estate and seasonal products.
merchant wholesalers; retailers
agents; brokers
retailers; distributors
full-service merchants; limited-service merchants
4 points
Question 20
Fashion trend setters, such as Gucci, who establish one retail outlet in a given area, are utilizing a(n) __________ distribution strategy.
intensive
selective
exclusive
multichannel
4 points
Question 21
The goal of distribution strategy is to:
minimize the number of distributors in the channel of distribution.
allocate goods from producers to consumers in the fairest possible way.
reconcile conflicts between pricing strategies and promotion strategies.
get the right product to the right person at the right place at the right time.
4 points
Question 22
__________ are marketing intermediaries that sell directly to final consumers.
Wholesalers
Brokers
Truck jobbers
Retailers
4 points
Question 23
A(n) __________ takes legal possession of the goods being distributed.
broker
agent
merchant wholesaler
store retailer
4 points
Question 24
A firm’s distribution strategy is concerned with two key elements:
shipping and warehousing.
the channel of distribution and physical distribution.
pricing strategy and credit standards.
facility location and value stream mapping for product flow.
4 points
Question 25
When comparing the advantages of trucks and rail as modes of transportation, a key advantage of trucks is that they __________, while an advantage of railroads is that they __________.
are less costly; offer the greatest flexibility in handling
offer faster and more frequent shipments; offer lower shipping costs
offer more flexibility in handling; offer greater dependability
are the fastest mode of transportation; are the most readily available mode of transportation
