AEB 3300 Exam 1 With Complete Solutions
1. Consumers of a product may not be customers for the producer, but customers have
to be consumers.
a. True
b. False - ANSWER B
1. People usually buy more of an inferior good when their income decreases
a. True
b. False - ANSWER A
1. Marketing Myopia happens when a firm devotes it resources to a specific type of
consumers. This will allow the firm to market its product more efficiently.
a. True
b. False - ANSWER B
1. The target market refers to the specific location where the company wants to build its
headquarters
a. True
b. False - ANSWER B
1. Marketing is important to consumers, businesses, and policymakers
a. True
b. False - ANSWER A
1. Which industry structure involves the highest level of competition?
a. Monopoly
b. Perfect competition
c. Monopolistic competition
d. Oligopoly - ANSWER b
1. Which of the following is NOT one of the four marketing eras?
a. Sales era
b. Relationship era
, c. Production era
d. Consumer era
e. Marketing era - ANSWER d
1. A tomato farmer sells his tomatoes to Publix. In turn, Publix sells the tomatoes to the
end consumer. Which of the following statements is NOT true? (select all that apply)
a. From the perspective of the tomato farmer, Publix is a consumer but not a customer
b. From the perspective of the tomato farmer, Publix is a customer but not a consumer
c. From the perspective of the tomato farmer, the end consumer is both a customer and
consumer
d. From the perspective of the farmer, the end consumer is a consumer but not a
customer - ANSWER a and c
1. Which of the following is NOT one of the 4 P's of marketing?
a. Product
b. Promotion
c. Purchasing
d. Place
e. Price - ANSWER c
1. Which of the following is NOT one of the characteristics of the production era?
a. It was focused on the product and not the consumer
b. Producers fell into marketing myopia
c. Producers operated under the assumption that a good product will sell itself
d. It was focused on persuading consumers to buy the product
e. None of the answers are correct - ANSWER d
1. Which of the following is NOT one of the marketing environments?
a. Social environment
b. Economic environment
c. Competitive environment
d. Technological environment
1. Consumers of a product may not be customers for the producer, but customers have
to be consumers.
a. True
b. False - ANSWER B
1. People usually buy more of an inferior good when their income decreases
a. True
b. False - ANSWER A
1. Marketing Myopia happens when a firm devotes it resources to a specific type of
consumers. This will allow the firm to market its product more efficiently.
a. True
b. False - ANSWER B
1. The target market refers to the specific location where the company wants to build its
headquarters
a. True
b. False - ANSWER B
1. Marketing is important to consumers, businesses, and policymakers
a. True
b. False - ANSWER A
1. Which industry structure involves the highest level of competition?
a. Monopoly
b. Perfect competition
c. Monopolistic competition
d. Oligopoly - ANSWER b
1. Which of the following is NOT one of the four marketing eras?
a. Sales era
b. Relationship era
, c. Production era
d. Consumer era
e. Marketing era - ANSWER d
1. A tomato farmer sells his tomatoes to Publix. In turn, Publix sells the tomatoes to the
end consumer. Which of the following statements is NOT true? (select all that apply)
a. From the perspective of the tomato farmer, Publix is a consumer but not a customer
b. From the perspective of the tomato farmer, Publix is a customer but not a consumer
c. From the perspective of the tomato farmer, the end consumer is both a customer and
consumer
d. From the perspective of the farmer, the end consumer is a consumer but not a
customer - ANSWER a and c
1. Which of the following is NOT one of the 4 P's of marketing?
a. Product
b. Promotion
c. Purchasing
d. Place
e. Price - ANSWER c
1. Which of the following is NOT one of the characteristics of the production era?
a. It was focused on the product and not the consumer
b. Producers fell into marketing myopia
c. Producers operated under the assumption that a good product will sell itself
d. It was focused on persuading consumers to buy the product
e. None of the answers are correct - ANSWER d
1. Which of the following is NOT one of the marketing environments?
a. Social environment
b. Economic environment
c. Competitive environment
d. Technological environment
