MKT315 Final Exam – Questions With Complete
Answers
Because of _____, businesses are forced to be competitive. Right Ans -
Both the Internet and E-commerce
Milton Friedman's famous maxim, paraphrased, is: The social responsibility
of business is to: Right Ans - Make a profit
The ROI equation does not: Right Ans - Include customer service values
Self-actualization is NOT: Right Ans - Buying a Mercedes
_____ represents where the total revenue and total cost are equal. Right
Ans - Break-even analysis
The most difficult part of the marketing mix is: Right Ans - Pricing
The Robinson-Patman Act: Right Ans - Was enacted to prevent unfair
pricing practices favoring larger retail establishments over smaller mom-
and-pop stores.
An income gained from business activities, this term means the gross
(before taxes, expenses, etc.): Right Ans - Revenue
______ must be established with added value, or what is above and beyond
what is expected. Right Ans - Positioning
The point with the largest vertical distance between the total revenue and
total costs represents the point at which: Right Ans - Production is
optimized and profitability peaks
When a company arranges two or more marketing channels to target one
or more customer segments, it is called a(n) _____ system. Right Ans -
Multichannel distribution
, What type of marketing channel would Secure insurance use if it offers its
products exclusively through door-to-door salespersons? Right Ans -
Direct
A "supply-chain" is thought of as limited because it: Right Ans - Implies
that planning commences with raw materials and factory capacity
_____ conflict can occur when management at Eat and Run Restaurants
disagree about specific discount rates for high school students. Right
Ans - Horizontal
When Juicy Chicken decides to promote grilled chicken instead of
traditional fried chicken, Juicy Chicken experiences _____ conflict. Right
Ans - Vertical
Priceless Creations provides its products exclusively to Crafty's, a chain of
pottery painting stores across the country. The chain then makes its
pottery and painting supplies available to end-consumers. This is an
example of _____. Right Ans - An indirect marketing channel
When an organization changes its distribution channels, it is true that:
Right Ans - Internet growth threatens disintermediation for many "brick-
and-mortar" companies
An intensive distribution strategy would be best implemented for which of
the following products. Right Ans - Soft drinks
Instead of offering its products through "brick-and-mortar" companies, a
book distributor decides to make books directly available to customers
through the U.S. mail. This is an example of: Right Ans -
Disintermediation
When service producers bypass intermediaries and market directly to
finally buyers, or when new channel intermediaries replace traditional
ones, _____ occurs. Right Ans - Disintermediation
Indirect distribution is an example of: Right Ans - Producer to
wholesalers to retailer to end-consumer
Answers
Because of _____, businesses are forced to be competitive. Right Ans -
Both the Internet and E-commerce
Milton Friedman's famous maxim, paraphrased, is: The social responsibility
of business is to: Right Ans - Make a profit
The ROI equation does not: Right Ans - Include customer service values
Self-actualization is NOT: Right Ans - Buying a Mercedes
_____ represents where the total revenue and total cost are equal. Right
Ans - Break-even analysis
The most difficult part of the marketing mix is: Right Ans - Pricing
The Robinson-Patman Act: Right Ans - Was enacted to prevent unfair
pricing practices favoring larger retail establishments over smaller mom-
and-pop stores.
An income gained from business activities, this term means the gross
(before taxes, expenses, etc.): Right Ans - Revenue
______ must be established with added value, or what is above and beyond
what is expected. Right Ans - Positioning
The point with the largest vertical distance between the total revenue and
total costs represents the point at which: Right Ans - Production is
optimized and profitability peaks
When a company arranges two or more marketing channels to target one
or more customer segments, it is called a(n) _____ system. Right Ans -
Multichannel distribution
, What type of marketing channel would Secure insurance use if it offers its
products exclusively through door-to-door salespersons? Right Ans -
Direct
A "supply-chain" is thought of as limited because it: Right Ans - Implies
that planning commences with raw materials and factory capacity
_____ conflict can occur when management at Eat and Run Restaurants
disagree about specific discount rates for high school students. Right
Ans - Horizontal
When Juicy Chicken decides to promote grilled chicken instead of
traditional fried chicken, Juicy Chicken experiences _____ conflict. Right
Ans - Vertical
Priceless Creations provides its products exclusively to Crafty's, a chain of
pottery painting stores across the country. The chain then makes its
pottery and painting supplies available to end-consumers. This is an
example of _____. Right Ans - An indirect marketing channel
When an organization changes its distribution channels, it is true that:
Right Ans - Internet growth threatens disintermediation for many "brick-
and-mortar" companies
An intensive distribution strategy would be best implemented for which of
the following products. Right Ans - Soft drinks
Instead of offering its products through "brick-and-mortar" companies, a
book distributor decides to make books directly available to customers
through the U.S. mail. This is an example of: Right Ans -
Disintermediation
When service producers bypass intermediaries and market directly to
finally buyers, or when new channel intermediaries replace traditional
ones, _____ occurs. Right Ans - Disintermediation
Indirect distribution is an example of: Right Ans - Producer to
wholesalers to retailer to end-consumer
