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HW-616 Management MCQ 51-75
51) Which of the following common product life-cycle patterns would be characterized
as being one where sales grow rapidly when the product is first introduced
and then fall to a “petrified” level that is sustained by late adopters
buying the product for the first time and early adopters replacing the product?
A) Cycle-recycle pattern
B) Inverse-cycle pattern
C) Scalloped pattern
D) Reverse-cycle pattern
E) Growth-slump-maturity pattern
52) In the decline phase of the product life cycle, if a firm “milks” the firm’s
investment to recover cash quickly, it is using a strategy called ________.
A) abandonment
B) harvesting
C) positioning
D) psychological divestment
E) reverse engineering
53) While looking a series of special-case product life cycles, you observe that
one of the life cycles has had a rapid growth in sales resulting in a severe peak
of the sales curve followed by a rapid decline. Which of the following product
life-cycle curves is most likely represented by the above illustration?
A) Style life cycle
B) Niche life cycle
C) Techno life cycle
D) Fad life cycle
E) Fashion life cycle
54) As an entrepreneur you have decided to launch two products simultaneously
to capture two different parts of the market. You are employing a(n) ________.
A) single-niche strategy
B) multiple-niche strategy
C) standardization strategy
D) adaptive strategy
E) mass-market strategy
55) A segment is unattractive if the company’s suppliers are able to raise prices
or reduce quantity supplied. Which of the following is the best illustration of
the threat of suppliers’ growing bargaining power?
A) McDonald’s is the largest fast-food franchise and is still growing.
B) Sears unsuccessfully attempted to compete with Wal-Mart and Kmart.
C) Wal-Mart has almost no competitors in its marketspace.
D) Oil companies must purchase a significant amount of their product from
OPEC.
E) The U.S. Post Office has merged package operations with FedEx.
56) A firm that is willing to maintain its market share and not rock the boat is
known as a ________.
A) market entrant
B) market nicher
C) market leader
D) market challenger
E) market follower
57)________ defense involves occupying the most desirable market space in the
minds of the consumers, making the brand almost impregnable.
A) Mobile
B) Preemptive
C) Position
D) Flank
E) Contraction
58) All of the following are considered market follower strategies EXCEPT
________.
A) imitator
B) adapter
C) innovator
D) counterfeiter
E) cloner
59) When a buyer thinks of performance running shoes, the first name that comes
to mind is Nike. In this example, Nike has a high ________.
A) share of mind
B) share of innovation
C) share of heart
D) share of pocketbook
E) share of market
60) Most products can be offered with varying ________ that supplement its basic
function.
A) reliability
B) features
C) forms
D) conformance qualities
E) none of the above
61) Companies normally develop product lines rather than single products and require
sellers to establish ________ quality differences between price steps
within the line.
A) monetary
B) imaginary
C) perceived
D) actual
E) none of the above
62)Many sellers offer either general or specific guarantees. Guarantees reduce the
buyer’s ________ risk.
A) perceived
B) real
C) implied
D) stated
E) actual
63) If the Porsche 911 is designed to accelerate to 60 miles per hour within
10 seconds, and every Porsche 911 coming off the assembly line does this,
the model is said to have high ________.
A) durability
B) reliability
C) conformance quality
D) style
E) repairability
64) Services cannot be seen, tasted, felt, or heard before they are bought. To
reduce uncertainty, buyers will look for evidence of quality. They will draw
inference about quality from place, people, and price they see. Therefore, the
service provider’s task is to “________.”
A) provide high touch, high price
B) manage the evidence
C) communicate value
D) go full speed ahead
E) none of the above
65) There is a(n) ________ where consumer perceptions on a service dimension
would be deemed satisfactory, anchored by the minimum level consumers
would be willing to accept and the level that customers believe can and
should be delivered.
A) value definition
B) zone of tolerance
C) empathy
D) zone of forgiveness
E) perceived forgiveness
66) A service company can differentiate itself on three levels. The first is reliability,
the second is resilience, and the third is ________.
A) assuredness
B) employees
C) teamwork
D) innovativeness
E) none of the above
67) Charles Schwab’s best customers get their calls answered in 15 seconds;
other customers can wait longer. This is best described as ________.
A) standardizing the service-performance process
B) raising service levels to retain the patronage of profitable customers
C) customer empowerment through the Internet
D) fair play in service delivery
E) increasing consumer participation
68) Purchase decisions are based on how consumers perceive prices and what
they consider to be the ________, not the marketer’s stated price.
A) referent price
B) last purchased price
C) current sale price
D) current actual price
E) none of the above
69) Pricing cues such as sale signs and prices that end in 9 become more influential
when ________.
A) consumer price knowledge is poor
B) items are purchased frequently
C) items have been on the market a long time
D) they are employed frequently
E) prices are consistent year-round
70) Pricing methods narrow the range from which the company selects its final
price. In selecting that price, the company must consider additional factors,
including the impact of other marketing activities, company pricing policies,
gain-and-risk-sharing pricing, and the impact of price on ________.
A) marketing activities
B) channels of distribution
C) channel partners
D) other parties
E) none of the above
71) A major circumstance provoking price increases is ________.
A) cost inflation
B) profitability versus target
C) stock price versus target price
D) price versus competition
E) market demand
72) Channel objectives should be stated in terms of ________ service output
levels.
A) efficient
B) affordable
C) budgeted
D) targeted
E) none of the above
73) By granting ________, the producer hopes to obtain more dedicated and
knowledgeable selling.
A) exclusive distribution
B) extensive distribution
C) selective distribution
D) random distribution
E) intensive distribution
74) Manufacturers are constantly tempted to move from exclusive or selective
distribution to more intensive distribution in order to ________.
A) enter the market
B) leave the market
C) decrease coverage and sales
D) increase coverage and sales
E) none of the above
75) The sales of your product are low compared to your competition. The decision
facing you is whether to use a sales agency (brokers, manufacturers’ representatives)
or hire a field sales force. The fixed costs of engaging a sales
agency are lower than those of establishing a company sales force, but costs
rise faster through an agency. When figuring out sales and costs, the intersection
of the costs between sales agencies and sales force (SB) means that
________.
A) the sales agency is the better choice for any sales volume below this point
B) the sales agency is the better choice for any sales volume above this point
C) above SB means that the company’s costs escalate
D) the sales force is the better choice for any sales volume below this point
E) both choices are equally good choose the one that you are most comfortable with
Answer will be sent by email as attachment.
as being one where sales grow rapidly when the product is first introduced
and then fall to a “petrified” level that is sustained by late adopters
buying the product for the first time and early adopters replacing the product?
A) Cycle-recycle pattern
B) Inverse-cycle pattern
C) Scalloped pattern
D) Reverse-cycle pattern
E) Growth-slump-maturity pattern
52) In the decline phase of the product life cycle, if a firm “milks” the firm’s
investment to recover cash quickly, it is using a strategy called ________.
A) abandonment
B) harvesting
C) positioning
D) psychological divestment
E) reverse engineering
53) While looking a series of special-case product life cycles, you observe that
one of the life cycles has had a rapid growth in sales resulting in a severe peak
of the sales curve followed by a rapid decline. Which of the following product
life-cycle curves is most likely represented by the above illustration?
A) Style life cycle
B) Niche life cycle
C) Techno life cycle
D) Fad life cycle
E) Fashion life cycle
54) As an entrepreneur you have decided to launch two products simultaneously
to capture two different parts of the market. You are employing a(n) ________.
A) single-niche strategy
B) multiple-niche strategy
C) standardization strategy
D) adaptive strategy
E) mass-market strategy
55) A segment is unattractive if the company’s suppliers are able to raise prices
or reduce quantity supplied. Which of the following is the best illustration of
the threat of suppliers’ growing bargaining power?
A) McDonald’s is the largest fast-food franchise and is still growing.
B) Sears unsuccessfully attempted to compete with Wal-Mart and Kmart.
C) Wal-Mart has almost no competitors in its marketspace.
D) Oil companies must purchase a significant amount of their product from
OPEC.
E) The U.S. Post Office has merged package operations with FedEx.
56) A firm that is willing to maintain its market share and not rock the boat is
known as a ________.
A) market entrant
B) market nicher
C) market leader
D) market challenger
E) market follower
57)________ defense involves occupying the most desirable market space in the
minds of the consumers, making the brand almost impregnable.
A) Mobile
B) Preemptive
C) Position
D) Flank
E) Contraction
58) All of the following are considered market follower strategies EXCEPT
________.
A) imitator
B) adapter
C) innovator
D) counterfeiter
E) cloner
59) When a buyer thinks of performance running shoes, the first name that comes
to mind is Nike. In this example, Nike has a high ________.
A) share of mind
B) share of innovation
C) share of heart
D) share of pocketbook
E) share of market
60) Most products can be offered with varying ________ that supplement its basic
function.
A) reliability
B) features
C) forms
D) conformance qualities
E) none of the above
61) Companies normally develop product lines rather than single products and require
sellers to establish ________ quality differences between price steps
within the line.
A) monetary
B) imaginary
C) perceived
D) actual
E) none of the above
62)Many sellers offer either general or specific guarantees. Guarantees reduce the
buyer’s ________ risk.
A) perceived
B) real
C) implied
D) stated
E) actual
63) If the Porsche 911 is designed to accelerate to 60 miles per hour within
10 seconds, and every Porsche 911 coming off the assembly line does this,
the model is said to have high ________.
A) durability
B) reliability
C) conformance quality
D) style
E) repairability
64) Services cannot be seen, tasted, felt, or heard before they are bought. To
reduce uncertainty, buyers will look for evidence of quality. They will draw
inference about quality from place, people, and price they see. Therefore, the
service provider’s task is to “________.”
A) provide high touch, high price
B) manage the evidence
C) communicate value
D) go full speed ahead
E) none of the above
65) There is a(n) ________ where consumer perceptions on a service dimension
would be deemed satisfactory, anchored by the minimum level consumers
would be willing to accept and the level that customers believe can and
should be delivered.
A) value definition
B) zone of tolerance
C) empathy
D) zone of forgiveness
E) perceived forgiveness
66) A service company can differentiate itself on three levels. The first is reliability,
the second is resilience, and the third is ________.
A) assuredness
B) employees
C) teamwork
D) innovativeness
E) none of the above
67) Charles Schwab’s best customers get their calls answered in 15 seconds;
other customers can wait longer. This is best described as ________.
A) standardizing the service-performance process
B) raising service levels to retain the patronage of profitable customers
C) customer empowerment through the Internet
D) fair play in service delivery
E) increasing consumer participation
68) Purchase decisions are based on how consumers perceive prices and what
they consider to be the ________, not the marketer’s stated price.
A) referent price
B) last purchased price
C) current sale price
D) current actual price
E) none of the above
69) Pricing cues such as sale signs and prices that end in 9 become more influential
when ________.
A) consumer price knowledge is poor
B) items are purchased frequently
C) items have been on the market a long time
D) they are employed frequently
E) prices are consistent year-round
70) Pricing methods narrow the range from which the company selects its final
price. In selecting that price, the company must consider additional factors,
including the impact of other marketing activities, company pricing policies,
gain-and-risk-sharing pricing, and the impact of price on ________.
A) marketing activities
B) channels of distribution
C) channel partners
D) other parties
E) none of the above
71) A major circumstance provoking price increases is ________.
A) cost inflation
B) profitability versus target
C) stock price versus target price
D) price versus competition
E) market demand
72) Channel objectives should be stated in terms of ________ service output
levels.
A) efficient
B) affordable
C) budgeted
D) targeted
E) none of the above
73) By granting ________, the producer hopes to obtain more dedicated and
knowledgeable selling.
A) exclusive distribution
B) extensive distribution
C) selective distribution
D) random distribution
E) intensive distribution
74) Manufacturers are constantly tempted to move from exclusive or selective
distribution to more intensive distribution in order to ________.
A) enter the market
B) leave the market
C) decrease coverage and sales
D) increase coverage and sales
E) none of the above
75) The sales of your product are low compared to your competition. The decision
facing you is whether to use a sales agency (brokers, manufacturers’ representatives)
or hire a field sales force. The fixed costs of engaging a sales
agency are lower than those of establishing a company sales force, but costs
rise faster through an agency. When figuring out sales and costs, the intersection
of the costs between sales agencies and sales force (SB) means that
________.
A) the sales agency is the better choice for any sales volume below this point
B) the sales agency is the better choice for any sales volume above this point
C) above SB means that the company’s costs escalate
D) the sales force is the better choice for any sales volume below this point
E) both choices are equally good choose the one that you are most comfortable with
Answer will be sent by email as attachment.
