Back to quiz

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

  • b) 2 and 4
  • d) all of them
  • c) 3 and 4
  • a) 1 and 3