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AEB 3300 Exam 1 Questions with Detailed
Verified Answers (100% Correct Answers)
/Already Graded A+
1. Consumers of a product may not be customers for the producer, but customers have to be
consumers.
a. True
b. False
Ans: B
1. People usually buy more of an inferior good when their income decreases
a. True
b. False
Ans: 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
Ans: B
1. The target market refers to the specific location where the company wants to build its
headquarters
a. True
b. False
Ans: B
1. Marketing is important to consumers, businesses, and policymakers
a. True
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b. False
Ans: A
1. Which industry structure involves the highest level of competition?
a. Monopoly
b. Perfect competition
c. Monopolistic competition
d. Oligopoly
Ans: 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
Ans: 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
Ans: a and c
1. Which of the following is NOT one of the 4 P's of marketing?
a. Product
b. Promotion
c. Purchasing
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d. Place
e. Price
Ans: 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
Ans: 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
e. None of the answers are correct
Ans: e
1. Which market structure is characterized by only one firm producing the product?
a. Monopoly
b. Oligopoly
c. Monopolistic competition
d. Perfect competition
e. We never have only one firm producing a product
Ans: a
1. Which of the following was implemented by the United States Department of Agriculture
(USDA)? (select all that apply)
a. Supplemental nutrition assistance program (SNAP)
AEB 3300 Exam 1 Questions with Detailed
Verified Answers (100% Correct Answers)
/Already Graded A+
1. Consumers of a product may not be customers for the producer, but customers have to be
consumers.
a. True
b. False
Ans: B
1. People usually buy more of an inferior good when their income decreases
a. True
b. False
Ans: 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
Ans: B
1. The target market refers to the specific location where the company wants to build its
headquarters
a. True
b. False
Ans: B
1. Marketing is important to consumers, businesses, and policymakers
a. True
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b. False
Ans: A
1. Which industry structure involves the highest level of competition?
a. Monopoly
b. Perfect competition
c. Monopolistic competition
d. Oligopoly
Ans: 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
Ans: 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
Ans: a and c
1. Which of the following is NOT one of the 4 P's of marketing?
a. Product
b. Promotion
c. Purchasing
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d. Place
e. Price
Ans: 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
Ans: 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
e. None of the answers are correct
Ans: e
1. Which market structure is characterized by only one firm producing the product?
a. Monopoly
b. Oligopoly
c. Monopolistic competition
d. Perfect competition
e. We never have only one firm producing a product
Ans: a
1. Which of the following was implemented by the United States Department of Agriculture
(USDA)? (select all that apply)
a. Supplemental nutrition assistance program (SNAP)
