Marketing Management - Practice Test

[#546] Marketing decision-makers in a firm must constantly monitor competitor's activities - their products, prices, distribution, and promotional efforts-because

(A) Competitors may be violating the law and can be reported to the authorities

(B) The actions of the competitors may threaten the monopoly position of the firm in its industry

(C) The actions of the competitors may create an oligopoly within an industry

(D) New product offerings by a competitor with the resulting competitive variations may require adjustments to one or more components of the firm's marketing mix

Correct Answer

(D) New product offerings by a competitor with the resulting competitive variations may require adjustments to one or more components of the firm's marketing mix

[#547] Razor manufacturer will charge a low price and recoup its margin (and more) from the sale of the only design of blades which fit the razor. This is an example of . . . . . . . .

(A) Predatory Pricing

(B) Economy Pricing

(C) Psychological Pricing

(D) Captive Product Pricing

Correct Answer

(C) Psychological Pricing

[#548] Marketers who adopt . . . . . . . . strategy add low priced items to their existing line of speciality products.

(A) trading down

(B) trading up

(C) expansion

(D) contraction

Correct Answer

(A) trading down

[#549] A buyer's perception of value is considered a trade-off between

(A) product value and psychic cost

(B) total customer value and total customer cost

(C) image value and energy cost

(D) service value and monetary cost

Correct Answer

(D) service value and monetary cost

[#550] Exchange concept of marketing deals with

(A) exchange of products between sellers and buyers covering distribution and price aspects

(B) mere appendage to production

(C) achieving marketing success through product attributes

(D) aggressively promote and push the products

Correct Answer

(A) exchange of products between sellers and buyers covering distribution and price aspects

Marketing Management - Study Mode

[#546] Marketing decision-makers in a firm must constantly monitor competitor's activities - their products, prices, distribution, and promotional efforts-because

Correct Answer

[#547] Razor manufacturer will charge a low price and recoup its margin (and more) from the sale of the only design of blades which fit the razor. This is an example of . . . . . . . .

Correct Answer

[#548] Marketers who adopt . . . . . . . . strategy add low priced items to their existing line of speciality products.

Correct Answer

[#549] A buyer's perception of value is considered a trade-off between

Correct Answer

[#550] Exchange concept of marketing deals with

Correct Answer