Principles of Marketing

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Which of the following characteristics is typical of the business market? a. a smaller role played by advertising than in the consumer goods market, b. geographical dispersion of members, c. large number of buyers, d. purchases are never made for resale, only for use in production, e. public benefit is primary motivation.

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a smaller role played by advertising than in the consumer goods market

Front

Which of the following statements best reflects the view of a firm with a production orientation? a. Our company is consumer oriented. , b. We have a first rate sales organization which disposes of all the products we can make at a favorable price., c. We guarantee our customers complete satisfaction with every aspect of what they buy from us or we will refund their money., d. Our basic function is to produce the highest quality product possible., e. Selling is only one component of marketing.

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Our basic function is to produce the highest quality product possible.

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In the consumer decision process, the gathering of information related to the attainment of a desired state of affairs constitutes

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the search process.

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Which of the following correctly describes a stage in the consumer decision making process?
a. postpurchase evaluation – read newspaper ads to find dealers who sell the desired product.
b. problem or opportunity recognition – discover that any of several brands would be satisfactory for your intended use.
c. search – buy the desired product at the nearest store.
d. alternative evaluation – create a set of evaluative criteria with which to analyze possible choices.

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alternative evaluation – create a set of evaluative criteria with which to analyze possible choices.

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Which of the following is an example of market segmentation: An appeal is developed which it is hoped will reach all consumers, regardless of income. Residents of urban areas and rural areas are approached with exactly the same marketing mix. An automobile company separate its markets into economy buyers and luxury buyers. A firm markets its products to all residents of the U.S with the same single product marketing mix. A company considers all residents of Vietnam to be members of its market?

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An automobile company separate its markets into economy buyers and luxury buyers.

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A firm that targets as potential customers only neurosurgeons who perform 20 or more of a specific procedure per year is using

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concentrated marketing.

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.......................................are used in the positioning process to illustrate differing attributes of a selection of brands

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Perceptual maps.

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The firm’s objective in the introductory stage of the product life cycle is to

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stimulate demand for the new product.

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In marketing, the term "product":

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is a broad concept that refers to anything that can be offered for use and consumption, in exchange for money or some other form of value

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........................vary according to the number of units of goods made or services sold.

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Variable costs