Economics MCQs

Page No. 258

Catalog marketing is big business in the United States. The average house hold receives __________ catalogs per year?


a25


b50


c75


d100


View Answer 50

The fact that services cannot be stored for later use or sale is evidence of their ?


aintangibility


b inseparability


cvariability


dperishability


View Answer perishability

When a company reviews sales costs and profit projections for a new product to find out whether these factors satisfy the company’s objectives they are in which of the following new process development stages ?


aConcept development and testing


b Commercialization


cBusiness analysis


dMarketing strategy development


View Answer Business analysis

If a consumer describes a car as being the most economical car on the market than this descriptor is a?


arule


b attitude


cbelief


d cute


View Answer belief

________ is a philosophy holding that a company’s marketing should support the best long-run performance of the marketing system?


a Enlightened marketing


b Myopic marketing


cFundamental marketing


dConceptual marketing



The primary reason that many companies work to become the low cost producers in their industry is because ?


athey can generate more advertising


b they can please top management


c they can gain tax advantages


dthey can set lower prices that that result in greater sales and profits



All of the following are criticisms leveled against marketing by critics EXCEPT ?


aharming consumers through high prices


b harming consumers through deceptive practices


c harming consumers through high-pressure selling


d harming consumers through too many product choices



A price reduction to buyers who buy in large volumes is called a(n) ?


a quantity discount


bcash discount


cseasonal discount


dtrade discount


View Answer quantity discount

A company’s 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 ?


a loyalty and perseverance


b spot selling and old product rejuvenation


c high sales performance and encourage capturing new accounts


dhigh pressure situations and competitive reaction



In a example discussed in your text Johnson & Johnson’s recall of their Tylenol product following the discovery that several bottles of Tyloenol had been laced with cyanide is consistent with which business philosophy ?


aThe marketing concept


bThe product concept


c The selling concept


dThe societal marketing concept



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