Economics MCQs

Page No. 262

The __________ is a person within a reference group who because of special skills knowledge personality or other characteristics exerts influence on others ?


a facilitator


breferent actor


copinion leader


dsocial role player


View Answer opinion leader

_______ are products bought by individuals and organizations for further processing or for use in conducting a business?


aConsumer products


bServices


cIndustrial products


dSpecialty products


View Answer Industrial products

Pricing to cover variable costs and some fixed costs as in the case of some automobile distributorships that sell below total costs is typical of which of the following pricing objectives ?


acurrent profit maximization


b product quality leadership


c Market share leadership


dSurvival


View Answer Survival

A _____ is a good offered either free or at low cost as an incentive to buy a product ?


apatronage reward


b spiff


c price pack


dpremium


View Answer premium

That the company that overlooks new and better ways to do things will eventually lose customers to another company that has found a better way to serving customer needs is a major tenet of ?


ainnovative marketing


bconsumer oriented marketing


c value marketing


dsense -f mission marketing


View Answer innovative marketing

All of the following considered to be drawbacks of local marketing EXCEPT ?


a it can drive up manufacturing and marketing costs by reducing economies of scale


bit can create logistical problems when the company tries to meet varied requirements


c it can attract unwanted competition


dit can dilute the brand’s overall image



Marketers are sometimes accused of deceptive practices that lead consumers to believe they will get more value than they actually do. _____ includes practices such as falsely advertising factory of wholesale prices or a large price reduction from a phony high retail price ?


aDeceptive promotion


bDeceptive packaging


c Deceptive pricing


d Deceptive cost structure


View Answer Deceptive pricing

When companies make marketing decisions by considering consumers wants and the long run interests of the company consumer and the general population they are practicing which of the following principle ?


aInnovative marketing


bConsumer-oriented marketing


cValue marketing


dSocietal marketing


View Answer Societal marketing

The advantages of audience selectivity no ad competition and personalization apply to which type of media ?


a Newspapers


b Television


cDirect Mail


dRadio


View Answer Direct Mail

One of the most common problems with using internal database information is that ?


asince it was probably collected for some other purpose it may be incomplete or wrong


bit is usually expensive to retrieve


ctop executives are usually unwilling to relinquish data therefore the data has limits


d the data is almost always unsecured and therefore, suspect as to reliability



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