1. The width of a product mix refers to the:
2.
extent to which one product line differs from another.
number of product lines handled by the organization.
total number of items or products in the company’s product mix.
average number of products in each line.
1.5 points
QUESTION 2
1. Which of the following scenarios shows a person purchasing convenience goods?
2.
Aliyah and her husband finally pick a car after examining many models.
Joshua buys a loaf of bread while shopping for provisions in a grocery store.
After a lot of consideration, Jenna orders a solitaire ring from an exclusive jeweler.
Alice purchases four kilograms of white sand for her Zen garden.
1.5 points
QUESTION 3
1. Which of the following is a variation of cost-oriented pricing?
2.
Rate-of-return pricing
Bundle pricing
Prestige pricing
Odd-even pricing
1.5 points
QUESTION 4
1. ________ can be defined as the degree of excellence or superiority that an organization’s
product possesses.
2.
Reach
Depth
Quality
Width
1.5 points
QUESTION 5
1. Which of the following statements regarding organizational goods is true?
2.
Buyers of organizational goods are generally ill informed.
Organizational goods are not purchased as means to an end but rather as an end in
themselves.
Organizational goods are often purchased directly from the original source with few
middlemen.
The primary purchasing motive for organizational goods is convenience, even if the costs
are high.
1.5 points
QUESTION 6
1. ________ is an organization wide commitment to satisfying customers by continuously
improving every business process involved in delivering products or services.
2.
Total quality management (TQM) program
Capability Maturity Model Integration (CMMI)
Just-in-case (JIC) manufacturing
Toyota Production System (TPS)
1.5 points
QUESTION 7
1. In the context of types of marketing intermediaries, which of the following best describes a
retailer?
2.
A wholesale middleman especially in lines where selective distribution is common
A business unit that negotiates purchases, sales, or both but does not take title to the
goods in which it deals
A merchant middleman who is engaged primarily in selling to ultimate consumers
A middleman who serves as a go-between for a buyer or seller without assuming title
risks
1.5 points
QUESTION 8
1. A fad can be best described as a(n):
2.
product that has a lengthy period of popularity, which gives competitors the chance to
capitalize on the product.
accepted and popular product that goes through repetitive cycles of popularity.
specialty product that has retained its popularity for a long time.
product that experiences an intense but brief period of popularity.
1.5 points
QUESTION 9
1. The generalist viewpoint about the contribution of advertising to the economic health of a
firm is primarily concerned with:
2.
1.5 points
QUESTION 10
1. A manufacturer utilizing an intensive form of distribution coverage:
2.
usually produces products that require certain specialized selling effort or investment in
unique facilities.
limits the use of intermediaries to the ones believed to be the best available in the
geographic area.
manufactures products that are characterized by a low unit value and a high frequency of
purchase.
severely limits distribution and provides intermediaries with exclusive rights within a
territory.
1.5 points
QUE STI ON 11
1. Which of the following is true of franchises?
2.
They involve a wholesaler contracting with a number of retailers performing channel
functions for them.
They involve a parent company and an independent firm entering into a contractual
relationship to set up and operate a business in a particular way.
They involve a retailer assuming ownership of a primary manufacturer through the
presence of a channel leader.
They involve a group of independent retailers uniting and agreeing to pool buying and
managerial resources to improve competitive position.
1.5 points
QUE STI ON 12
1. Matrixautos, an automobile rental unit, rents its cars at $499 rather than $500 to encourage
its consumers to think of its services as less expensive. This is an example of ________.
2.
prestige pricing
bundle pricing
markup pricing
odd-even pricing
1.5 points
QUE STI ON 13
1. In terms of the advertising communication process, translating a product idea or marketing
message into an effective ad is called:
2.
positioning.
allocating.
encoding.
disseminating.
1.5 points
QUE STI ON 14
1. The reinforcement of unfavorable ethnic or racial stereotypes is a legal concern directly
associated with:
2.
public relations.
personal selling.
advertising.
sales promotion.
1.5 points
QUE STI ON 15
1. Which of the following is defined as an approach to pricing in which a seller charges a
relatively high price on a new product initially in order to recover costs and make profits
rapidly and then lowers the price at a later date to make sales to more price-sensitive
buyers?
2.
Sealed-bid pricing
Rate-of-return pricing
Penetration pricing policy
Skimming pricing policy
1.5 points
QUE STI ON 16
1. Kenny and Tessa are planning to go on vacation. They learn that Dreamz Travel, a travel
agency, is offering a special package that includes travel, lodging, and entertainment at a
much lower price than the couple would have to pay for all of them separately. Which of
the following pricing strategies is Dreamz Travel using in this scenario?
2.
Price skimming
Reference rate pricing
Odd-even pricing
Bundle pricing
reward a consumer for brand loyalty.
increase a manufacturer’s inventories.
increase a distributor’s or retailer’s inventories.
discourage advertising and consumer sales promotions.
Advertising is not subject to the law of diminishing returns.
Advertising is not justified on the basis of the revenue it generates.
The ultimate goal of the business advertiser is to make sales and profits.
where the additional cost of gaining more business exceeds the incremental profits.