Part A: Multiple Choice Questions (60 points)
1.
A(n) __________ is a state of felt deprivation.
a.
Want
b.
Desire
c. Need
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ECO 101 MID-TERM EXAMINATION...

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"Question
Part A: Multiple Choice Questions (60 points)
1.
A(n) __________ is a state of felt deprivation.
a.
Want
b.
Desire
c. Need
d.
Demand
2.
The tendency to seek out affection and
group membership is characteristic of
a.
Physical needs.
b. Social needs.
c.
Individual needs.
d.
Physical demands.
3.
Which of the following statements about
products is not true?
a.
A product is anything that can be offered
to a market to satisfy a need or want.
b.
A product can be a physical object.
c.
A product can be a service.
d. Companies are only interested in marketing
tangible products.
4.
is the act of obtaining a desired object from someone by offering something
in return.
a. Exchange
b.
Sales
c.
Transaction
d.
Payment
5.
The ____________ holds that a company
should determine the needs, wants and interests of target markets and satisfy
them in a way that improves individual and community well being.
a.
Marketing concept
b.
Product concept
c. Social marketing concept
d.
selling concept
6.
A person's want becomes a demand when
backed by
Needs
b.
Products.
c.
Exchange mechanism
d. Purchasing power.
7.
Marketing includes which of the following
functions or activities?
a.
Selling, advertising and public relations
b.
Needs assessment and product development
c.
Pricing and distribution
d. All of the above
8. In Marketing, the term
Market"" is defined as
The entire population.b.
Everybody with the same colored hair.
c. The actual and potential buyers of a product or
service.
d.
Anybody with money
9.
Which of the following is NOT a factor affecting environmental trends?
a.
Competitive
b.
Economic
c. Cultural
d.
Social
10.
A new trend in marketing that is based on product preferences by where
consumers live is called ____________?
a. Regional marketing
b.
Geographic targeting
c.
Relationship marketing
d.
Target marketing
11.
Value consciousness is the concern of obtaining the best _____________ for the
best price.
a.
Color
b.
Brand name
c. Quality
d.
Sale
12.
income is money left after
taxes that is used to pay for food, shelter, and clothing.
a.
Net
b. Disposable
c.
Gross
d.
Household
13.
the most important developments for marketers may be those related to
a.
Social factors
b.
Economic growth
c.
Competitive markets
d. Information technology
14.
Pure competition happens when every company has _______________.
a.
Targeted marketing
b.
The same price for products
c. Similar products
d.
Clearly deferent products
15.
Product related legislation aims to protect __________________.
a.
Government
b.
Companies
c.
Consumers
d. Both B and C
16.
Social class can be determined by
a. A single variable
b. Occupation and income
c. Education, wealth, and other
variables
d. B and c
17.
Marketers are interested in social class NOT because
a. The lines between social classes can be changeable
b. There are number of products and services, such as clothing
home, furniture, entertainments, cars with social-class-distinct level of
product and brand preferences
c. People belonging to a specific social class tend to have
similar buying behavior
d. None of the above
18.
Which basic values does NOT Build-A-Bear Workshop focus on when designing a
child-friendly assembly line in its toy store for children?
a. Activity and involvement
b. Achievement and success
c. Fitness and health
d. Progress and hard work
19. Which
one(s) influence you most when making a very personal advisory service purchase
decision?
a.
Your closed friend
b.
Your coworkers
c.
Your family members
d.
Your favorite movie stars
20. Which one(s) influence you most when making a
new cell phone purchase decision?
a. Your parents
b. Your colleagues
c. Your boss
d. Your religious organization
21. Which
one(s) influence you most when making an apartment purchase decision?
a. Your family members
b. Your colleagues
c. Your boss
d. Your closed friends
22.
Maslow’s hierarchy of needs
a. Seeks to explain why people is
driven by a particular needs at particular times
b. Suggests that a person’s buying decisions are affected by
subconscious motives
c. Explains the roles of each human need
d. None of the above
23.
According to Sigmund Freud’s psychoanalytic theory of personality, it is
assumed that
a. People are largely unconscious about the real psychological
forces shaping their behavior
b. During the growing process, a person is repressing many urges
which are never eliminated or under perfect control
c. The urges emerge in dreams, in slips of the tongue, in neurotic
and obsessive behaviors, or ultimately in psychoses
d. All of the above
24.
What type of consumer buying behavior is likely involved when a woman decides
to purchase a sofa for her family’s dining room?
a. Complex buying behavior
b. Dissonance-reducing buying behavior
c. Habitual buying behavior
d. Variety/seeking buying behavior
25.
What type of consumer buying behavior is likely involved for purchasing a
hybrid car?
a. Complex buying behavior
b. Dissonance-reducing buying behavior
c. Habitual buying behavior
d. Variety/seeking buying behavior
26.The
consists of all the organizations that acquire goods and services used
in the production of other products or services that are sold, rented, or
supplied to others.
a.
business market
b.
consumer
market
c.
e-commerce
market
d.
global
market
e.
supplier
market
All of
the following would be among the major industries that make up the
business market EXCEPT ________a.
agriculture
forestry, and fisheries
b.
manufacturing
c.
construction
d.
banking
finance, and insurance
e.
the Internet
The
business marketer normally deals with ________ buyers than the consumer
marketer does.a.
more
and larger
b.
more
and smaller
c.
fewer and larger
d.
fewer
and smaller
e.
the
same number of
The
demand for business goods is ultimately derived from the demand for
a.
raw
materials
b.
consumer goods
c.
electronics
d.
business
solutions
e.
e-commerce
The
total demand for many business goods and services is ________ —that is
not much affected by price changes.a.
derived
b.
fluctuating
c.
accelerated
d.
multiple
e.
inelastic
The
purchasing department buys office supplies on a routine basis. This type
of purchase is classified as a ________.a.
straight rebuy
b.
modified
rebuy
c.
new
task
d.
secondary
purchase
e.
preordained
purchase
32.In a ________ purchasing situation
the buyer wants to make some change to existing product specifications, prices
delivery requirements, or other terms.
a.
modified rebuy
b.
regular
buy
c.
straight
rebuy
d.
new
rebuy
e.
new
task
In the
purchasing decision process, the ________ are those who request that
something be purchased. They may be users or others in the organization.a.
users
b.
initiators
c.
influencers
d.
deciders
e.
approvers
In the
purchasing decision process, the ________ are those who have the power to
prevent sellers or information from reaching members of the buying center.
a.
gatekeepers
b.
buyers
c.
initiators
d.
approvers
e.
deciders
In the
purchasing decision process, the major role of ________ is in selecting vendors and
negotiating.a.
gatekeepers
b.
buyers
c.
initiators
d.
approvers
e.
deciders
A
consists of a group of customers who share a similar set of needs
and wants.a.
market
target
b.
market
group
c.
market
slice
d.
market segment
e.
market
level
When
segmenting on the basis of family life cycle, all of the following are
segment categories EXCEPT ________.a.
young
single
b.
male, female
c.
young
married
d.
older
married, no children under 18
e.
young
married, youngest child 6 or over
If a
market is segmented according to light, medium, and heavy product users
the marketer segmenting this market is using the ________ as the means to
segment.a.
user
status
b.
usage rate
c.
buyer-readiness
stage
d.
occasion
e.
benefit
Hilton
Hotels customizes rooms and lobbies according to location. Northeastern hotels are sleeker and more
cosmopolitan. Southwestern hotels
are more rustic. This is an example
of ________ segmentation.a.
demographic
b.
behavioral
c.
psychographic
d.
geographic
e.
user
status
Pampers
divides its market demographically on the basis of ________ into prenatal
new baby, baby, toddler, and preschooler. a.
life
stage
b.
gender
c.
age
d.
income
e.
social
class"

 

Solution ID:393795 | This paper was updated on 26-Nov-2015

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