6. Personal selling can be more effective than advertising in complex selling situations because:
d) It can deal with inelastic demand.
a) It costs less per contact.
b) It provides a basis for two-way communication
c) It can reach more customers within a given time period.
7. Which of the following is true of strategic planning in a firm?
d) Strategic planning deals with adapting the firm to take advantage of opportunities in its changing environment
c) Strategic planning deals with maintaining the company's current business ventures
b) Strategic planning occurs at the business-unit, product, and market levels rather than a company-wide level
a) Strategic planning involves the formulation of supporting objectives for business units based on the company's mission statement
8. ________ is the differential effect that knowing the brand name has on customer response to the product and its marketing.
c) Brand knowledge
b) Brand relevance
a) Brand equity
d) Brand personality
9. The process of putting marketing strategies into action is called:
a) Marketing implementation
b) Marketing control
d) The marketing action plan
c) Marketing auditing
10. There are various levels of market segmentation based upon the unique needs and wants of consumers. Adapting a company's offerings to more closely match the needs of one sub-segment - in which there is little competition - is referred to as what type
c) Niche marketing
a) Segment marketing
d) Target marketing
b) Mass marketing
11. ‘Integrated marketing communications’ is all about:
a) Creativity
c) Innovativeness
d) Consistency
b) Mutuality
12. Price elasticity of demand is represented by ________ divided by ________.
c) Percentage change in price; percentage change in quantity demanded
a) Percentage change in units supplied; percentage change in price
d) Percentage change in quantity demanded; percentage change in price
b) Fixed costs; variable costs
13. Laws are passed to define and prevent unfair competition primarily because ________.
c) Business executives tend to favour pure monopolies
Businesses sometimes try to neutralise threatening firms
b) Private lobbying hurts the interests of national and state governments
a) Governments in free market economies tend to nationalise ailing firms
14. A consumer changing or twisting information when it is inconsistent with personal feelings or beliefs is known as _____________.
a) Selective exposure
b) Selective distortion
c) Selective retention
d) Selective attention
15. In relation to consumer behaviour, which of the following is NOT a recognised role within the ‘Decision Making Unit’?
a) Influencer
d) Buyer
b) Seller
c) Initiator
16. A message showing a product’s quality, economy, value, or performance is an example of a(n) ___________ appeal.
a) Rational
d) Emotional
c) Standard
b) Structural
17. Individuals and business organisations that buy finished goods and resell them to make a profit without changing the physical characteristics of the product are classified as _________ markets
b) Institutional
d) Reseller
c) Producer
a) Consumer
18. Many companies use RFID product labels on their goods, which exemplifies the ________ environment in business.
a) Economic
d) Demographic
c) Technological
b) Political
19. The strategic planning process begins with:
b) Analysis of the marketing environment
d) Development of a marketing plan
a) Development of an organisational mission statement
c) Analysis of target markets
20. Which of the following are service product characteristics? 1) Homologous 2) Inseparability 3) Heuristic 4) Intangible