MCS 1000 Study Guide Questions Well
Answered 2026-2027 Updated.
4 I's of service - Answer intangibility, inconsistency, inseparability, inventory
Custome Relationship Management (CRM) - Answer Process of building & developing long-
term relationships with customers
CRM has a long-term focus T/F - Answer True
An organization that focuses its efforts on continuously collecting information about customers'
needs and competitors' capabilities, sharing this information across departments, and using the
information to create customer values is said to - Answer Have a market orientation
The emphasis of a marketing strategy for a discontinuous innovation would most likely be to: -
Answer Educate consumers about entirely new consumption patterns through trial and
personal selling
discontinuous innovation - Answer a totally new product that creates major changes in the
way we live
loss leader pricing - Answer the pricing policy of setting prices very low or even below cost to
attract customers into a store
customary pricing - Answer setting a price that is dictated by tradition, a standardized channel
of distribution, or other competitive factors
price lining - Answer the practice of offering a product line with several items at specific price
points
Informing the consumer is the promotional objective during which stage of the product life
cycle - Answer Introduction
vending machines are an example of - Answer nonstore retailing
hypermarkets - Answer Stores that combine supermarket and discount store shopping in one
location
, scrambled merchandising - Answer offering several unrelated product lines in a single store
A significant amount of capital is required to purchase ___________, the business buyer deals
directly with construction companies and manufacturers through sales representatives: -
Answer Installations
antecedent states - Answer situational factors, usage contexts, time pressure, mood, shopping
orientation
China counterfeit example, what should a business know before launching a product to china? -
Answer societal culture & norms
What types of stores are likely to be anchor stores at a regional shopping centre? - Answer
Sears, Hudson's Bay
A form of ownership that involves multiple outlets under common ownership is known as a -
Answer corporate chain
Interpreting information so that it is consistent with your attitudes and beliefs is called - Answer
selective comprehension
19. Which of the following offences is not a criminal offence under the Competition Act in
Canada?
A. price skimming. B. bait-and-switch selling. C. bid rigging. D. predatory pricing. - Answer A
bait and switch - Answer A store advertises bargains that do not really exist to lure customers
in, in hopes that they will buy more expensive merchandise.
predatory pricing - Answer selling a product below cost to drive competitors out of the market
All Canadian companies must abide by established business laws for operation, which include
financial reporting and employment standards. These laws are - Answer society's values and
standards that are enforceable in courts
perceptual mapping - Answer offers marketing managers a useful technique for measuring
and developing a product's position
Answered 2026-2027 Updated.
4 I's of service - Answer intangibility, inconsistency, inseparability, inventory
Custome Relationship Management (CRM) - Answer Process of building & developing long-
term relationships with customers
CRM has a long-term focus T/F - Answer True
An organization that focuses its efforts on continuously collecting information about customers'
needs and competitors' capabilities, sharing this information across departments, and using the
information to create customer values is said to - Answer Have a market orientation
The emphasis of a marketing strategy for a discontinuous innovation would most likely be to: -
Answer Educate consumers about entirely new consumption patterns through trial and
personal selling
discontinuous innovation - Answer a totally new product that creates major changes in the
way we live
loss leader pricing - Answer the pricing policy of setting prices very low or even below cost to
attract customers into a store
customary pricing - Answer setting a price that is dictated by tradition, a standardized channel
of distribution, or other competitive factors
price lining - Answer the practice of offering a product line with several items at specific price
points
Informing the consumer is the promotional objective during which stage of the product life
cycle - Answer Introduction
vending machines are an example of - Answer nonstore retailing
hypermarkets - Answer Stores that combine supermarket and discount store shopping in one
location
, scrambled merchandising - Answer offering several unrelated product lines in a single store
A significant amount of capital is required to purchase ___________, the business buyer deals
directly with construction companies and manufacturers through sales representatives: -
Answer Installations
antecedent states - Answer situational factors, usage contexts, time pressure, mood, shopping
orientation
China counterfeit example, what should a business know before launching a product to china? -
Answer societal culture & norms
What types of stores are likely to be anchor stores at a regional shopping centre? - Answer
Sears, Hudson's Bay
A form of ownership that involves multiple outlets under common ownership is known as a -
Answer corporate chain
Interpreting information so that it is consistent with your attitudes and beliefs is called - Answer
selective comprehension
19. Which of the following offences is not a criminal offence under the Competition Act in
Canada?
A. price skimming. B. bait-and-switch selling. C. bid rigging. D. predatory pricing. - Answer A
bait and switch - Answer A store advertises bargains that do not really exist to lure customers
in, in hopes that they will buy more expensive merchandise.
predatory pricing - Answer selling a product below cost to drive competitors out of the market
All Canadian companies must abide by established business laws for operation, which include
financial reporting and employment standards. These laws are - Answer society's values and
standards that are enforceable in courts
perceptual mapping - Answer offers marketing managers a useful technique for measuring
and developing a product's position
