Advertising that aims to create a more favorable view of a company as a whole in the
eyes of various stakeholders is called advertising.
a. institutional
b. product
c. organizational
d. pioneer
e. advocacy
Tech Silicon buys silicon which is used in its chip-making process. Tech Silicon
produces microchips for use within a wide variety of products for other firms. Tech
Silicon is a buyer in a(n)______ market.
a. producer
b. government
c. reseller
d. construction
e. institutional
A firm ordinarily uses the same sales forecasting method for determining short-range
and long-range sales forecasts.
a. True
b. False
Price elasticity of demand measures the sensitivity of demand to changes in price.
a. True
b. False
A marketing ethics issue likely exists when:
a. company members disagree about a marketing decision.
b. an activity does not benefit the organization but benefits the environment.
c. an activity results in increased prices for the consumer.
d. a consumer is dissatisfied with a marketing decision.
e. an individual or organization must choose from among several actions that must be
evaluated as right or wrong.
When trying to estimate the purchases of a potential business customer, it is reasonable
to suppose that there is a relationship between the size of the potential customer’s
purchases and a variable such as the number of personnel employed by the customer.
a. True
b. False
A social class is a closed aggregate of individuals with similar social ranking.
a. True
b. False
Markum Industries determines that, for its air compressors, the following results are
achieved at a price of $250: total costs = $250; variable costs per unit = $100; fixed
costs = $175,000. Given these figures, Markum would break even at__________-units.
a. 1,167
b. 1,000
c. 1,750
d. 2,500
e. 700
Market segment profiles help determine the most desirable segment or segments in
relation to the firm’s strengths, weaknesses, objectives, and resources.
a. True
b. False
Service providers offering discounted deals to existing customers who refer new
customers to them are using existing customers as a part of their service promotion
strategies.
a. True
b. False
Advertising is an inflexible promotional method.
a. True
b. False