Marketing Management Quiz 2

Which of the following is most closely related with the organic growth of an organization?

• entering new marketplaces

• increasing the operational profitability

• increasing productivity of employees

• developing new products from within

New-to-the-world products are ________.

• low-cost products designed to obtain an edge in highly competitive markets

• new product enhancements that supplement established products

• new versions of an existing product that has been less successful

• new products that create an entirely new market

Which of the following firms is most likely to seek radical innovation?

• a traditional publishing company

• a small scale FMCG company

• a firm that procures and markets wheat

• a high-tech firm in telecommunications

A ________ is an elaborated version of the idea expressed in consumer terms.

• test brand

• "alpha" product

• "beta" version

• product concept

Companies pursue _____ as their major price objective if they are plagued with overcapacity, intense competition, or changing consumer wants.

• maximum profit share

• market skimming

• survival

• maximum market share

If demand hardly changes with small changes in price the demand is _____.

• elastic

• neutral

• inelastic

• unitary

The decline in the average cost with accumulated production is called the _____.

• variable cost

• demand curve

• learning curve

• supply curve

A company charging fairly low prices for high-quality goods is practising _____ pricing.

• competitive

• value

• perceived-value

• quality

One method of increasing prices is using _____, where the company maintains its price but removes or prices separately one or more elements that were part of the former offer.

• escalator clauses

• unbundling

• unitary pricing

• demand pricing

Charles Schwab enables its customers to do transactions in its branches, over the phone, or on the Internet. This is an example of a company using _____ channels.

• interactive

• hybrid

• dual

• targeted