Description : The importance of price to a particular target market depends on the type of product, the type of target market, and the A)state of the economy. B)availability of substitute products. C)purchase situation. D)amount of discretionary income in the target market.
Last Answer : C)purchase situation.
Description : This strategy will allow us to maintain a presence in every market segment. Competitive advantage will be gained by keeping R&D costs, Production costs and raw material costs to a minimum, ... Life Cycle Focus d. Differentiation Strategy with a Product Life Cycle Focus e. Broad Differentiation
Last Answer : a. Broad Cost Leader
Description : If there is simultaneous fall in consumers disposal income as well number of suppliers of a product in the market, the (a) Equilibrium quantity will decrease ; (b) Equilibrium price will decrease ; (c) Equilibrium price will go up ; (d) Equilibrium quantity will increase
Last Answer : (a) Equilibrium quantity will decrease ;
Description : If a firms cost of raw material increases then (a) Market price of the final product will also increase (b) Equilibrium level of quantity also increases ; (c) Marginal cost curve will shift upward (d) Marginal cost curve will shift downward
Last Answer : ; (c) Marginal cost curve will shift upward
Description : One of the features of a free market economy is - (1) active state intervention (2) public ownership of factors of production (3) rationing and price control (4) consumer's sovereignty
Last Answer : (4) consumer's sovereignty Explanation: Consumer Sovereignty is one of the features of a free market economy. It refers to the assertion consumer preferences determine the production of goods and ... market performance is in fact responsive to the specific wants of the consumers within the system.
Description : In a pure market economy, which of the following is a function of the price? I. provide information to sellers and buyers , II. provide incentives to sellers and buyers a. I only b. II only c. both I and II d. neither I nor II
Last Answer : c. both I and II
Description : In a market economy equilibrium price is reached at (a) Point of interaction of aggregate demand and aggregate supply curve; (b) At the top of demand curve ; (c) Midpoint of demand curve ; (d) Midpoint of supply curve
Last Answer : (a) Point of interaction of aggregate demand and aggregate supply curve;
Description : One of the features of a free market economy is (1) active state intervention (2) public ownership of factors of production (3) rationing and price control (4) consumer’s sovereignty
Last Answer : consumer’s sovereignty
Description : In a Laissez-faire economy (1) the customers take all the decisions regarding production of all the commodities (2) the Government does not interfere in the free functioning of demand and ... of various commodities produced (4) the Government controls the allocation of all the factors of production
Last Answer : the Government does not interfere in the free functioning of demand and supply forces in the market
Description : Gross National Product at market prices of an economy is ₹ 65 , 000 crores . The capital stock of the economy is valued at ₹ 1, 20 , 000 crores , whic
Last Answer : Gross National Product at market prices of an economy is ₹ 65 , 000 crores . The capital ... 000 crores . Estimate National Income of the economy.
Description : If the total production in an economy for a product is produced by a few big firms, then this market is known as : (a) Monopolistic Competition (b) Oligopoly (c) Duopoly (d) Discriminating Monopoly
Last Answer : Oligopoly
Description : You are a market analyst specializing in the oil industry and have been asked to forecast the likely price of oil in 2012.
Last Answer : world wide demand will increase as the US economy is in full rebound, EU strengthens, and China and India continue to grow. Crude will rise from its current $84 – $85 range to $120 per barrel.
Description : If RCA developed a new technology that made 3-D imagery possible through the use of videotape played on an advanced television set, it would be more likely to market this innovation if it could obtain a: A)competitive advancement B)patent C)low price advantage D)technological assessment
Last Answer : B)patent
Description : The major objective of monetary policy is to - (1) increase government's tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy
Last Answer : (3) Promote economic growth with price stability Explanation: The main objective of monetary policy is to control the supply of money, often targeting an inflation rate or interest rate ... usually to contribute to lower unemployment, and to maintain predictable exchange rates with other currencies.
Description : Given the money wages, if the price level in an economy increases, then the real wages will - (1) increase (2) decrease (3) remain constant (4) become flexible
Last Answer : (2) decrease Explanation: If workers receive a higher nominal wage and the price level does not change, then the real purchasing power of their wages is higher and they are inclined to increase the quantity of labor supplied.
Description : Which one is not the main objective of Fiscal Policy in India? A. To increase liquidity in economy B. To promote price stability C. To minimize the inequalities of income and wealth D. To promote employment opportunities
Last Answer : A. To increase liquidity in economy
Description : The major objective of monetary policy is to (1) increase government’s tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy
Last Answer : Promote economic growth with price stability
Description : Given the money wages, if the price level in an economy increases, then the real wages will (1) increase (2) decrease (3) remain constant (4) become flexible
Last Answer : decrease
Description : Of the following functions, which set is MOST likely to be passed on to wholesalers by producers ? 1. Transportation, Packaging and Financing 2. Product Development, Advertising and ... 4. Financing, Transportation and Branding 5. Market Information, Transportation, Warehousing and Financing
Last Answer : Market Information, Transportation, Warehousing and Financing
Description : A marketer is most likely to set prices according to a cash -flow objective when a A)trial -and -error approach to the market is acceptable. B)certain market share must be maintained. C)quick return on investment is desired. D)product is expected to have a long life cycle.
Last Answer : C)quick return on investment is desired.
Description : Of the following functions, which set is MOST likely to be passed on to wholesalers by producers? A)Transportation, packaging, and financing B)Product development, advertising, and ... D)Financing, transportation, and branding E)Market information, transportation, warehousing, and financing
Last Answer : E)Market information, transportation, warehousing, and financing
Description : If marketers at Tate & Lyle considered that potential customers for sugar have similar product needs, the company would most likely use a ________ approach in defining its target market. A)total market B)differentiated C)concentrated D)heterogeneous
Last Answer : A)total market
Description : A likely consequence of merger and acquisition is: A. Lower revenues B. Price increase C. Higher costs D. Price decrease
Last Answer : Price increase
Description : Compared to the case of perfect competition, a monopolist is more likely to: a. charge a higher price b. produce a lower quantity of the product c. make a greater amount of economic profit d. all of the above
Last Answer : d. all of the above
Description : In forecasting, it is not likely that you will take half of the sales unless a. the product positioning is ideal. b. the product meets the top 2 buying criteria and the price is low. c. the positioning ... d. the price is at the low end of the range and the positioning, age and MTBF are superior.
Last Answer : d. the price is at the low end of the range and the positioning, age and MTBF are superior.
Description : A marketer of industrial cleaning equipment is creating a marketing mix to satisfy potential customers. As a business to business marketer which of the following is LEAST likely to be ... -quality products C)Technical advice about the product D)Credit extension E)Extensive television advertising
Last Answer : E)Extensive television advertising
Description : A small hardware store whose only competitor is a huge discount store would be least likely to use which competitive tool? A)services B)price C)product offering D)distribution E)promotion
Last Answer : B)price
Description : Which of the following is/are true if a firm has a required rate of return equal to the ROE? I. The amount of earnings retained by the firm does not affect market price or the P/E. II. The firm can increase market ... (III) above D. Both (II) and (III) above E. All (I), (II) and (III) above
Last Answer : E. All (I), (II) and (III) above
Description : A market-determined increase in the dollar price of the pound is associated with: A. Revaluation of the dollar B. Devaluation of the dollar C. Appreciation of the dollar D. Depreciation of the dollar
Last Answer : C. Appreciation of the dollar
Description : A marketer sometimes uses temporary price reductions to: A)increase the number of competitors. B)gain market share. C)decrease volume sold. D)increase revenue per item.
Last Answer : B)gain market share.
Description : When a company adjusts price levels so that it can increase sales volume to levels that match the organisation's expenses, it is said to employ a ---- pricing objective. A)market share B)cash flow C)return on investment D)survival E)profit
Last Answer : D)survival
Description : What will happen if a firm in perfect competitive market, increase its output by 50% (a)Total sales revenue will also increase by 50% ; (b) (b)Selling price will come down by 50%; (c)Total sales revenue will decrease by 50% ; (d)Profit will increase by 25%
Last Answer : (a)Total sales revenue will also increase by 50% ;
Description : When is the net domestic product at market price less than the net domestic product at factor cost ?
Last Answer : When is the net domestic product at market price less than the net domestic product at factor cost ?
Description : National Income is the - (1) Net National Product at market price (2) Net National Product at factor cost (3) Net Domestic Product at market price (4) Net domestic Product at factor cost
Last Answer : (2) Net National Product at factor cost Explanation: Net National Product. at factor cost is also called as national income. Net National Product at factor cost is equal to sum total of value added at ... of the flow of output of goods and services produced within an economy over a period of Lime.
Description : Relevant industry conditions include the following, except: a. The market and competition, including demand, capacity and price competition. b. Regulatory framework for a regulated industry. c. Cyclical or seasonal activity. d. Product technology relating to the entity's products
Last Answer : Regulatory framework for a regulated industry
Description : The strategy of offering a different product charging a different price and using different promotion and distribution process is called a) Market segmentation b) Market Penetration c) Market Developmentd) None of these
Last Answer : a) Market segmentation
Description : What is meant by focused differentiation? A. Providing a high perceived value service or product to a selected market segment that justifies a substantial price premium B. ... differentiation D. Concentrating on differentiation as the primary means of achieving competitive advantage
Last Answer : Providing a high perceived value service or product to a selected market segment that justifies a substantial price premium
Description : Which of the following is NOT an example of a global strategy? a) The British subsidiary of global insurance group Aviva develops a new product for the UK market. b) IKEA sells ... Walmart withdraws from Germany in order to avoid changing its global strategy of selling low-priced products.
Last Answer : The British subsidiary of global insurance group Aviva develops a new product for the UK market
Description : The marketing mixes of organizations that market services include product, price, promotion, place and : 1. packaging 2. premiums 3. people 4. purchasing 5. none of these
Last Answer : people
Description : Marketing is best defined as 1. matching a product with its market 2. promoting and selling products 3. facilitating satisfying exchange relationships 4. distributing products at the right price to stores 5. none of these
Last Answer : facilitating satisfying exchange relationships
Description : Customer demand is driven by a. price, product, promotion and TQM/Process Initiatives. b. customer survey. c. positioning and price. d. market share. e. market share, positioning and price.
Last Answer : b. customer survey.
Description : This strategy will allow us to maintain a presence in every market segment. Competitive advantage will be gained by distinguishing our product with an excellent design, high awareness, and easy ... Cycle Focus d. Differentiation Strategy with a Product Life Cycle Focus e. Broad Differentiation
Last Answer : e. Broad Differentiation
Description : National Income is the: A. Net National Product at market price B. Net National Product at factor cost C. Net Domestic Product at market price D. Net Domestic Product at factor cost
Last Answer : C. Net Domestic Product at market price
Description : A run -out policy of product deletion: A)lets the product decline without changing the marketing strategy B)exploits any strengths left in the product C)raises the price of the product continually to secure as much profit as possible before the product is priced out of the market
Last Answer : B)exploits any strengths left in the product
Description : Essex Office Products has decided to use a particular competitive tool that it feels will have a major impact. Its consultant, Dr. Bell, contends that this particular approach is the one most ... in question is: A)price B)market segmentation C)distribution D)promotion E)product innovation
Last Answer : A)price
Description : he marketing mixes of organisations that market services include product, price, promotion, place and: A)Packaging B)Premiums C)People D)Purchasing
Last Answer : C)People
Description : Kelly is a marketing manager for a large consumer foods company. She is studying distribution, promotion, and price of the company's product. Kelly is studying the company's A)marketing strategy B)marketing mix C)market offering D)product offering E)marketing plan
Last Answer : B)marketing mix
Description : Marketing is best defined as: A) matching a product with its market. B) promoting and selling products. C) facilitating satisfying exchange relationships. D)distributing products at the right price to stores.
Last Answer : C) facilitating satisfying exchange relationships.