6. The company's products are available to the public only through Greenleaf, a grocery chain with 38 stores in the country. What distribution strategy does Giant Beanstalks use?
d) Exclusive distribution
c) Extensive distribution
a) Selective distribution
b) Intensive distribution
7. A university enrolled 200 graduate students in the Autumn semester 2013. The enrolment rate was only slightly affected following a 12% hike in tuition fee. This illustrates a(n)________ demand
b) Negative
c) Inelastic
d) Highly elastic
a) Derived
8. Having gathered a great deal of information, he has finally narrowed down his choices to three systems: Waterbags for Roadies, Supertanker Hydropacks, and Fast Water. Robert is in the ________ stage of the buying decision process.
a) Information search
d) Product trial
c) Evaluation of alternatives
b) Need recognition
9. In a buying centre, the person who would be the most likely to say, "We need to limit our choices to local vendors", is _________
c) An influencer
b) The gatekeeper
A buyer
d) A user
10. ‘Target Marketing’ can be defined as:
A means of identifying the distinct profile of a portion of the population based upon a single characteristic
A means of selecting a sub-group from the larger population and directing all marketing efforts towards satisfying the needs of these people
b) A means of identifying sub-groups from the larger population based upon clearly identified common traits and characteristics
a) A means of identifying the distinct profile of a portion of the population based upon a number of characteristics
11. The percentage of a market which actually buys a specific product from a specific company is referred to as that product's __________.
c) Market share
a) Strategic segment
d) Market position
b) Target market
12. The primary benefit of database marketing is:
c) The enhancement of customer loyalty
Greater brand parity
b) Greater profits
d) Higher sales
13. Consumers today receive commercial messages from a broad range of sources. However, consumers ________ the way marketers do.
d) Never pay attention to sales promotions
b) Don't distinguish between message sources
c) Block out all media messages
a) Don't care about buzz marketing
14. Which of the following statements about break-even analysis is true?
It is calculated by using variable costs, the unit price, and fixed costs
It determines the amount of retained earnings a company will have during a given accounting period
b) It is used to determine how much production experience a company must have in order to achieve desired efficiencies.
It is a technique used to calculate fixed costs.
15. Seth Hoffman's chain of travel agencies has identified the lesbian, gay, bisexual, and transgender community as a growing market that spends an increasing percentage of its income on travel. Which of the following would be the LEAST effective
b) Advertise on television network aimed at gays and lesbians and their friends and family
d) Implement a mass marketing campaign
Position his agency as focused on specialised experiences
c) Place specially-targeted ads in gay-themed publications
16. If 50% of the population are males and 50% females and an interviewer is asked to undertake a survey outside the university on a Friday at 3.00pm selecting males and females based on this split, this is an example of:
Stratified random sampling
b) Quota sampling
c) Random sampling
d) Convenience sampling
17. A ‘Pull’ promotional strategy involves:
b) Communicating directly to consumers
c) Encouraging media owners to place your advert
Obtaining a client’s consent to use a specific advert
d) Promoting through intermediaries
18. A market in which a large proportion of customers have similar needs for a product is called a(n) ____ market.
c) Homogenous
a) Undifferentiated
d) Concentrated
b) Heterogeneous
19. In the case of services, captive product pricing is called ________ pricing
d) Two-part
c) Optional product
b) By-product
a) Segmented
20. Which of the following is true of a pure competitive market?
d) The advertising budget of companies
b) Sellers spend little time on marketing strategy.
c) Sellers try to develop differentiated offers for different customer segments.
a) A single seller has a major effect on the current and future market price.