Multiple Choice
Identify the
choice that best completes the statement or answers the question.
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1.
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. Which of the following is an example of
networking:
a. | Jackson is looking for a new job and asks his friends and
relatives if they know of any openings. | c. | Jess
meets with a group of peers to discuss a specific book that all group members have
read. | b. | Casey surfs the websites of local companies to view the
job opportunities that are available. | d. | Corey tells a
neighbor about a class that she plans to take next year. |
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2.
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The marketing factor of place affects the price
factor because of the costs involved in
a. | preparing displays | c. | opening
a business | b. | leasing retail
space | d. | distributing products |
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3.
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Which of the following is a tactic that some
businesses use that might be considered predatory pricing:
a. | Developing complex pricing
structures | c. | Lowering prices to drive out
competitors | b. | Meeting with
competitors to agree on prices | d. | Offering discounts on some items to attract
customers |
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4.
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A business might be involved in the illegal activity
of deceptive pricing if it
a. | offers special prices on a discontinued
item | c. | changes prices according to current
demand | b. | sells products at a limited number of predetermined price
points | d. | misleads customers about the true value of a
product |
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5.
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In which kind of market does more competition exist
than in any other kind of market:
a. | Oligopoly | c. | Monopoly | b. | Pure competition
| d. | Monopolistic competition |
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6.
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Why do businesses usually spend more money on
advertising during the maturity stage of the product life cycle?
a. | Sales are rising | c. | Competition is intense | b. | Profits are
decreasing | d. | Distribution is slow |
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7.
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One way that advances in technology are impacting
the product/service management function is by making it possible for businesses to
a. | eliminate human errors | c. | simplify production systems | b. | improve existing products | d. | control customer
preferences |
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8.
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Which of the following is an example of a business
behaving ethically in an effort to protect consumers:
a. | Wrapping products in plain paper | c. | Placing informative commercials on television | b. | Using tamper-resistant packaging | d. | Explaining the new
manufacturing process |
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9.
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Businesses often identify product opportunities by
conducting
a. | idea analysis | c. | trial
runs | b. | trend research | d. | production
tests |
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10.
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A business that generates an
idea for a new product that goes along with an existing product is creating a
________ product. a. | diversified | c. | generic | b. | strategic | d. | complementary |
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