GCU MKT-315 Final Exam: Questions With Accurate
Answers
An income gained from business activities, this term means the gross
(before taxes, expenses, etc). Right Ans - Revenue (Other answer
options were Profit, Cost, and Loss)
Self actualization is not... Right Ans - Buying a Mercedes (Other answer
options were Learning a new language, Acting for a higher good, and
Purchasing for self-fulfillment)
The most difficult part of the marketing mix is... Right Ans - Pricing
(Other answer options were Product, Person, and Place)
Milton Friedman's famous maxim, paraphrased, is: The social responsibility
of businesses is to... Right Ans - Make a profit (Other answer options
were Sell products, Serve the customers, and Lose money)
What must be established with added value, or what is above and beyond
what is expected? Right Ans - Positioning (Other answer options were
Pricing, Skimming, and Penetration)
What represents where total revenue and total cost are equal? Right Ans
- Break-even analysis (Other answer options were Equal analysis, TC, and
TR)
The point with the largest vertical distance between total revenue and total
cost represents the point at which... Right Ans - Production is optimized
and profitability peaks (Other answer options were Profitability peaks,
Production is optimized, and Value goes down)
The ROI equation does not... Right Ans - Include customer service values
(Other answer options were Measure the profit/loss generated from the
product, Concern operating income divided by the segment's average total
assets, and Relate to the costs associated with that product)
, Because of this, businesses are forced to be competitive... Right Ans -
Both the Internet and E-commerce (Other answer options were E-
commerce, the Internet, and Media)
What does the Robinson-Patman Act do? Right Ans - It was enacted to
prevent unfair pricing practices favoring larger retail establishments over
smaller mom-and-pop stores. (Other answer options were Does not allow
the customers to buy from high brands, Disallows all forms of pricing
discrimination, and Encourages oligopolies)
{??} conflict can occur when management at Eat and Run Restaurants
disagree about specific discount rates for high school students Right
Ans - Horizontal (Other answer options were Intensive, Vertical, Exclusive,
and Selective)
Instead of offering its products through "brick-and-mortar" companies, a
book distributor decided to market directly to customers through U.S. mail.
This is an example of... Right Ans - Disintermediation (Other answer
options were Franchising, Exclusive distribution, Indirect marketing, and
Intensive distribution)
When one company arranges two or more marketing channels to target one
or more customer segments, it is called a(n) {??} system Right Ans -
Multichannel (Other answer options were Administered vertical marketing,
Corporate vertical marketing, Conventional distribution, and Horizontal
marketing)
When Juicy Chicken decides to promote grilled chicken instead of
traditional fried chicken, Juicy chicken experiences a {{??} conflict Right
Ans - Vertical (Other answer options were Equilateral, Horizontal,
Communal, and Multitiered)
A "supply chain" is thought of as limited because it... Right Ans - Implies
that planning commences with raw materials and factory capacity (Other
answer options were Views the market in a sense-and-respond manner,
Discounts the make-and-sell aspect of the marketplace, and Implies that
planning commences with identifying customer needs)
Answers
An income gained from business activities, this term means the gross
(before taxes, expenses, etc). Right Ans - Revenue (Other answer
options were Profit, Cost, and Loss)
Self actualization is not... Right Ans - Buying a Mercedes (Other answer
options were Learning a new language, Acting for a higher good, and
Purchasing for self-fulfillment)
The most difficult part of the marketing mix is... Right Ans - Pricing
(Other answer options were Product, Person, and Place)
Milton Friedman's famous maxim, paraphrased, is: The social responsibility
of businesses is to... Right Ans - Make a profit (Other answer options
were Sell products, Serve the customers, and Lose money)
What must be established with added value, or what is above and beyond
what is expected? Right Ans - Positioning (Other answer options were
Pricing, Skimming, and Penetration)
What represents where total revenue and total cost are equal? Right Ans
- Break-even analysis (Other answer options were Equal analysis, TC, and
TR)
The point with the largest vertical distance between total revenue and total
cost represents the point at which... Right Ans - Production is optimized
and profitability peaks (Other answer options were Profitability peaks,
Production is optimized, and Value goes down)
The ROI equation does not... Right Ans - Include customer service values
(Other answer options were Measure the profit/loss generated from the
product, Concern operating income divided by the segment's average total
assets, and Relate to the costs associated with that product)
, Because of this, businesses are forced to be competitive... Right Ans -
Both the Internet and E-commerce (Other answer options were E-
commerce, the Internet, and Media)
What does the Robinson-Patman Act do? Right Ans - It was enacted to
prevent unfair pricing practices favoring larger retail establishments over
smaller mom-and-pop stores. (Other answer options were Does not allow
the customers to buy from high brands, Disallows all forms of pricing
discrimination, and Encourages oligopolies)
{??} conflict can occur when management at Eat and Run Restaurants
disagree about specific discount rates for high school students Right
Ans - Horizontal (Other answer options were Intensive, Vertical, Exclusive,
and Selective)
Instead of offering its products through "brick-and-mortar" companies, a
book distributor decided to market directly to customers through U.S. mail.
This is an example of... Right Ans - Disintermediation (Other answer
options were Franchising, Exclusive distribution, Indirect marketing, and
Intensive distribution)
When one company arranges two or more marketing channels to target one
or more customer segments, it is called a(n) {??} system Right Ans -
Multichannel (Other answer options were Administered vertical marketing,
Corporate vertical marketing, Conventional distribution, and Horizontal
marketing)
When Juicy Chicken decides to promote grilled chicken instead of
traditional fried chicken, Juicy chicken experiences a {{??} conflict Right
Ans - Vertical (Other answer options were Equilateral, Horizontal,
Communal, and Multitiered)
A "supply chain" is thought of as limited because it... Right Ans - Implies
that planning commences with raw materials and factory capacity (Other
answer options were Views the market in a sense-and-respond manner,
Discounts the make-and-sell aspect of the marketplace, and Implies that
planning commences with identifying customer needs)
