MKT 301 Exam 1 Faulds Questions With
Accurate Answers 100% Solved
The emergence of the marketing concept can best be explained by:
a.higher production levels.
b.greater sophistication in the production of goods.
c.the shift from a seller's market to a buyer's market.
d.a focus on product quality. - ANSWER C
Which of the following statements regarding the marketing era is true?
a.Marketing and selling would no longer be considered synonymous terms.
b.Marketing was relegated to a supplemental role performed after the production process.
c.The marketing concept was linked to a shift from a buyer's market to a seller's market.
d.Business success often was defined solely in terms of production successes. - ANSWER A
A buyer's market is characterized by:
a.more goods and services than buyers to buy them.
b.a small number of firms dominating the production of goods offered.
c.practically no competition in the marketplace.
d.a single firm producing a major share of the products or services offered. - ANSWER A
,Assume you want to increase the number of customers by applying the marketing concept.
Which of the following strategies would be most consistent with this approach?
a.Reduce product costs
b.Offer more product variety than competitors
c.Target markets
d.Employ inexpensive labor - ANSWER C
Indigo Ltd. wanted to increase its customers by applying the marketing concept. Which of the
following would be an appropriate way to apply this approach?
A. Maximize production of goods
B. Focus on meeting the needs of the consumers
C. Offer more product variety than competitors
D. Produce high quality goods - ANSWER B
Creating utility is the responsibility of the production function.
a.place
b.form
c.time
d.ownership - ANSWER B
Compared with other organization personnel, more time is devoted to long range strategic
planning by the:
, a.middle management
b.manufacturing labor
c.top management
d.supervisory management - ANSWER C
Artisanal Brands, Inc. markets and distributes a line of specialty, artisanal, and farmstead
cheese products in the United States. The company gives bulk discounts to their wholesalers.
The result is that smaller stores are getting the products at a higher rate as compared to
supermarkets and larger shopping chains. These stores will be protected under the ____.
A. Sherman Antitrust Act
B. Robinson-Patman Act
C. Wheeler-Lea Act
D. Cellar-Kefauver Act - ANSWER B
Which act prohibits restraint of trade and monopolization and identifies a competitive
marketing system as a national policy goal?
a.
The Wheeler-Lea Act
b.
The Sherman Antitrust Act
c.
The Federal Trade Commission Act
Accurate Answers 100% Solved
The emergence of the marketing concept can best be explained by:
a.higher production levels.
b.greater sophistication in the production of goods.
c.the shift from a seller's market to a buyer's market.
d.a focus on product quality. - ANSWER C
Which of the following statements regarding the marketing era is true?
a.Marketing and selling would no longer be considered synonymous terms.
b.Marketing was relegated to a supplemental role performed after the production process.
c.The marketing concept was linked to a shift from a buyer's market to a seller's market.
d.Business success often was defined solely in terms of production successes. - ANSWER A
A buyer's market is characterized by:
a.more goods and services than buyers to buy them.
b.a small number of firms dominating the production of goods offered.
c.practically no competition in the marketplace.
d.a single firm producing a major share of the products or services offered. - ANSWER A
,Assume you want to increase the number of customers by applying the marketing concept.
Which of the following strategies would be most consistent with this approach?
a.Reduce product costs
b.Offer more product variety than competitors
c.Target markets
d.Employ inexpensive labor - ANSWER C
Indigo Ltd. wanted to increase its customers by applying the marketing concept. Which of the
following would be an appropriate way to apply this approach?
A. Maximize production of goods
B. Focus on meeting the needs of the consumers
C. Offer more product variety than competitors
D. Produce high quality goods - ANSWER B
Creating utility is the responsibility of the production function.
a.place
b.form
c.time
d.ownership - ANSWER B
Compared with other organization personnel, more time is devoted to long range strategic
planning by the:
, a.middle management
b.manufacturing labor
c.top management
d.supervisory management - ANSWER C
Artisanal Brands, Inc. markets and distributes a line of specialty, artisanal, and farmstead
cheese products in the United States. The company gives bulk discounts to their wholesalers.
The result is that smaller stores are getting the products at a higher rate as compared to
supermarkets and larger shopping chains. These stores will be protected under the ____.
A. Sherman Antitrust Act
B. Robinson-Patman Act
C. Wheeler-Lea Act
D. Cellar-Kefauver Act - ANSWER B
Which act prohibits restraint of trade and monopolization and identifies a competitive
marketing system as a national policy goal?
a.
The Wheeler-Lea Act
b.
The Sherman Antitrust Act
c.
The Federal Trade Commission Act
