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MCQs on Marketing management

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1. As a market researcher for a cable television company seeking to determine the number of multi-dwelling buildings in a selected neighborhood, your best chance of acquiring this information quickly would be

a. census information available on the Internet.
b. the local Better Business Bureau.
c. interviews with neighborhood leaders.
d. the local Chamber of Commerce.
e. an aerial survey of surrounding neighborhoods.

2. Everyday low pricing is a strategy devoted to continuous low prices as
opposed to

a. seasonal changes in prices based on current demand.
b. purely cost-based prices that vary as the manufacturer's costs vary.
c. relying on short-term price-cutting tactics such as cents-off coupons,
rebates, and special sales.
d. prices that are set daily, weekly, or monthly in reaction to competitors'
actions.
e. prices based on what the firm feels the market will bear.

3. Customer relationship management (CRM), is

a. the defining concept that identifies communication between the parties
to a transaction.
b. a process used to retain customers when purchases are based on low
price or convenience.
c. best used when the seller has infrequent customer contact.
d. the combination of strategies and tools that drive relationship programs, reorienting the entire firm to a concentrated focus on satisfying customers.
e. a technique used to create a company focus on individual and immediate sales.

4. The most obvious distinction between not-for-profit and for-profit --
commercial -- firms is

a. more exact financial and marketing goals on the part of the not-forprofits.
b. the inability of the not-for-profits to sell tangible goods.
c. a different way of looking at the bottom line by the two different organization types.
d. the greater amount of control the customers of the not-for-profits
exercise on their activities.
e. the ability of not-for-profits to operate without the assistance of
volunteers from the general population.

5. The problems associated with the decision of whether to lunch at Popeye's,
Burger King, Taco Tico, or Little Saigon (a Vietnamese restaurant) illustrate

a. how direct competition affects consumer behavior.
b. how some products and services are competitive substitutes for each
other.
c. the strange food tastes of some of us - I mean, Taco Tico?
d. the universal nature of competition.
e. that some people just can't make up their minds.

6. Today's sales representative's role in the promotion process has changed
from that of persuader to that of

a. technician and expert on product repair.
b. process designer.
c. consultant and problem solver.
d. close friend and confidant.
e. joke-telling, backslapping fellow-well-met.

7. This retailing format, averaging 300,000 square feet in size, seeks to offer a
combination of shopping, entertainment, and restaurants in an attractive
environment preserving the intimacy of neighborhood retailing.
a. Such a shopping center is known as a power center.
b. A facility of this magnitude is called a national mall.
c. This type of facility is known as a lifestyle center.
d. Most such centers are now known as downtowns.
e. This describes the earliest type of planned shopping center, the linear
strip.

8. When brands are difficult to categorize or evaluate and significant effort is
required to analyze purchase alternatives, the type of consumer problemsolving that typically results is

a. research analysis.
b. extensive analysis buying.
c. limited problem solving.
d. extended problem solving.
e. evaluative problem solving.

9. Which of the following statements is most true about U.S. Internet users?

a. African Americans are three times more likely to be Internet users than
Americans of Asian or Pacific Island origin.
b. People in Alaska, New Hampshire, and Colorado are among the least
likely to use the Internet.
c. Low income rural dwellers account for less than three percent of
Internet users.
d. Caucasian Americans typically use the Internet only at work.
e. The median age of Internet users is expected to decline in the future.

10. The idea that a large percent of a product's sales revenues come from a
relatively small, loyal group of its purchasers is the

a. true blue syndrome.
b. cohort effect.
c. 80/20 principle.
d. purchase aggregation basis.
e. traditional believers effect.

11. A product which has achieved the status of brand insistence

a. moves from the unknown to the known category, increasing its
probability of purchase.
b. has the advantage of being preferred to other products, but only if it is
available.
c. must be price competitive if it is to keep its status.
d. must have a distinctive "identity character" like the Pillsbury
Doughboy.
e. has achieved a monopoly position with its consumers.

12. When marketing partners share the cost of a promotional campaign that
meets their mutual needs, the general term for the activity is

a. mutual support.
b. cross promotion.
c. spending push money.
d. trading promotion.
e. partnership advertising.

13. Television advertising that suggests that consumers take a proactive role
in family health care by requesting that their physicians prescribe specific
medications they see advertised raises issues of ethics in

a. product strategy.
b. price strategy.
c. packaging strategy.
d. distribution strategy.
e. promotion strategy.

14. Of the following, which is NOT generally considered to be part of a
national infrastructure?

a. the transportation and communication networks
b. a banking industry
c. consumer goods retailing
d. the utilities system
e. public services

15. A company's buying center encompasses

a. a group of people formally assigned to participate in the buying process.
b. formally designated gatekeepers, deciders, and buyers.
c. everyone who is involved in any aspect of its buying action.
d. a designated buying team that oversees the entire process of
procurement.
e. the purchasing task force that professionally buys hard goods and
tooling.

16. Showroom retailers are able to offer low prices as a result of

a. larger physical location.
b. inexpensive warehouse space, reduced shoplifting losses, and long-lived
products.
c. high volume of perishable items.
d. quick purchase process because of a large number of service
representatives.
e. offering a very small number of high volume items.

17. An example of a direct-selling strategy in the consumer goods market is

a. the party plan.
b. agents calling on wholesalers.
c. the traditional channel for consumer goods.
d. vending machines.
e. telemarketing by industrial distributors.

18. The gap between what customers expect and what they receive when
dealing with a firm is

a. related to the price they paid for something, not its quality.
b. always positive because the higher of the two values is counted first.
c. impossible to measure because it's subjective, not objective.
d. one measure of their satisfaction with a firm and its products.
e. one of the traditional methods of testing new products.

19. In SWOT analysis, a "vulnerability" occurs when

a. internal organizational weaknesses prevent taking advantage of an
opportunity.
b. environmental threats attack organizational weaknesses.
c. organizational strengths grasp opportunities.
d. environmental threats are posed to organizational strengths.
e. organizational strengths prevent improving environmental weaknesses.

20. In an integrated marketing communications program, which of the
following is NOT one of the ways in which a customer may have contact
with the organization?

a. direct mail
b. personal letters from competitors
c. personal selling
d. Internet messages
e. media advertising

21. Which of the following statements about the international aspects of
distribution strategy is true?

a. Transportation systems and warehousing facilities may be unavailable
or of poor quality in a given foreign market.
b. Switzerland's train system, the Volksbahn, is of especially poor quality.
c. Because of different cultural approaches to business, international
marketers should avoid local distributors.
d. Europeans have never responded to direct-by-television sales efforts.
e. Distribution in a foreign country is best handled by government
agencies rather than left to the discretion of an individual firm.

22. Of the following, which of the following would most likely be the factor
having the greatest influence on the decision to buy a homogeneous
shopping product?

a. the product's style
b. the store's name and reputation
c. the brand name of the product
d. the price and perceived value of the product
e. uniqueness of the product

23. Demand is said to be inelastic when

a. the demand curve and the supply curve do not cross.
b. total cost and total revenue are equal at all levels of demand.
c. the calculated elasticity of demand is less than 1.
d. the calculated elasticity of demand is greater than 1.
e. the calculated elasticity of demand is equal to 1.

24. Profit maximization is

a. a volume pricing objective.
b. not a pricing objective.
c. determined by the point at which the marginal revenue curve intersects
the marginal cost curve.
d. achieved by most firms in the marketplace.
e. the addition to total costs balanced by the increase in total quantity
sold.

25. Examples of products having target markets differentiated by age group
are

a. headache and cold remedies.
b. nostalgic products and retro toys like Sock Monkey.
c. cookies, candies, and baking goods.
d. automotive motor oil and gasoline.
e. tissue, paper towels, and plastic utensils.

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https://brainmass.com/business/e-commerce/mcqs-on-marketing-management-83124

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Operations Management Multiple Choice Questions with Explainations and answers

Please see the attached file.

1. What is the expected value of the following:

X = 1, 2, 3, 4, & 5 and P(X) = 0.01, 0.02, 0.03, 0.04, 0.05, respectively.

a. 0.15
b. 0.00225
c. 0.555
d. None of the above

2. At a university with 1,000 business majors, there are 200 business students who are enrolled in an introductory statistics course. Of 200 students, 50 are also enrolled in an introductory accounting course. There are an additional 250 business students who are enrolled in accounting but are not enrolled in statistics. If a business student is selected at random, what is the probability that the student is not enrolled in accounting?

a. 0.20
b. 0.25
c. 0.30
d. 0.50
e. None of the above

3. Demand for iPODs has increased steadily over the past 5 months.
Using exponential smoothing with the smoothing constant = 0.3, calculate the forecast for month 6.
Month iPODs Forecast
1 60 56.000
2 62 57.200
3 67 58.640
4 70 61.148
5 75 63.804

What is the forecast for month 6?

a. 68.8
b. 76
c. 67.2
d. none of the above.

4. The annual demand for a product is 1,000 units. The company orders 200 units each time an order is placed. The lead time is 6 days, and the company has determined that 20 units should be held as a safety stock. There are 250 working days per year. What is the reorder point?

a. 20
b. 24
c. 44
d. 120
e. none of the above

5. Two models of a product - Regular (X) and Deluxe (Y) - are produced by a company. A linear programming model is used to determine the production schedule. The formulation is as follows:

Maximize profit = 50X + 60 Y
Subject to: 8X + 10Y £ 800 (labor hours)
X + Y £ 120 (total units demanded)
4X + 5Y £ 500 (raw materials)
all variables ³ 0
The optimal solution is X = 100 Y = 0.

How many units of the raw materials would be used to produce this number of units?

a. 400
b. 200
c. 500
d. 120
e. none of the above

6. The following forecasting model has been developed:

^
Y = 36 + 4.3X

Where

Y? = demand for air conditioners
X1 = outside temperature ( o F)

What is the demand for air conditioners when the temperature is 70 degrees Fahrenheit?

a. 360
b. 403
c. 66
d. 337

7. Bus and subway ridership is believed to be related to the number of tourists.
These are the data for the past 12 years:
Year Ridership (in 1,000,000s) (Y) Number of Tourists (in 1,000,000s) (X)
1 15 7
2 10 2
3 13 6
4 15 4
5 25 14
6 27 15
7 24 16
8 20 12
9 27 14
10 44 20
11 34 15
12 17 7

The regression model that reflects the relationship of the tourists to
ridership is:

a. Y? = 8.0 + 17.5 X
b. Y? = 7.2 + 2.1 X
c. Y? = 5.060 + 1.593 X
d. none of the above

8. For the problem in #7 above, what is the expected ridership if 10 million tourists visit the city?

a. 5.06 million
b. 2.1 million
c. 23 million
d. 20.99 million

9. Find the shortest route from Node 1 to Node 5 using the shortest route
technique.
From Node/ To Node /Distance
1 2 200
1 3 150
2 3 50
2 4 300
3 4 250
3 5 200
4 5 150

a. 350
b. 400
c. 450
d. 600
e. none of the above

10. Consider a project that has an expected completion time of 60 weeks and a standard deviation of five weeks. What is the probability that the project is finished in 70 weeks or less (round to two decimals)?

a. 0.98
b. 0.48
c. 0.50
d. 0.02
e. none of the above

11. Customers enter the waiting line at a cafeteria on a first come, first served basis. The arrival rate follows a Poisson distribution, while service times follow an exponential distribution. If the average number of arrivals is six per minute and the average service rate of a single server is eight per minute, what is the average number of customers in the system?

a. 0.50
b. 0.75
c. 2.25
d. 3.00
e. none of the above

12. What is the minmax regret decision with the following payoffs depending on the market?

Alternative Good Market Fair Market Poor Market
Single unit 25,000 20,000 -5,000
Duplex 80,000 30,000 -10,000
Triplex 100,000 30,000 -12,000
Quadraplex 150,000 25,000 -20,000

a. Single unit
b. Duplex
c. Triplex
d. Quadraplex

13. What is the best decision based on the following table?

Alternative Good Market Fair Market Poor Market
Single unit 25,000 20,000 -45,000
Duplex 80,000 30,000 -10,000
Triplex 100,000 90,000 -9,000
Quadraplex 150,000 50,000 -40,000
Probability 0.4 0.35 0.25

a. Single unit
b. Duplex
c. Triplex
d. Quadraplex

14. What is the critical path of this network?

Activity Predecessor(s) Duration
A - 2
B - 5
C A 3
D B 6
E A,B 4

a. Start-A-E-End
b. Start-A-C-End
c. Start-B-D-End
d. Start-B-E-End

15. A probability distribution has been developed, and the probability of 2 arrivals in the next hour is 0.20. A random number interval is to be assigned to this. Which of the following would NOT be an appropriate interval?

a. 01-20
b. 21-40
c. 00-19
d. 00-20

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