Deck 3: Business Strategy, Marketing, and Consumer Behavior

Question 1

All of the following are possible types of service that a retailer can offer except ----.

A)self service.
B)self selection.
C)limited service.
D)all of the above.

Answer 1

limited service.

Question 2

The term which is used to identify the major areas of business of a diversified organization is.

A)business area.
B)business segment, group or diversion
C)business scope.
D)diversified business.

Answer 2

business segment, group or diversion

Question 3

Which of the following is not the characteristics of a strategic business unit?

A)it serves a homogenous set of markets with a limited number of related technologies
B)it serves a unique set of products.
C)it owns responsibility for its own profitability.
D)none of the above.

Answer 3

none of the above.

Question 4

According to GE screening grid model, which strategy should a company follow when it has high industry attractiveness and low business competitive position.

A)invest/growth
B)selective investment /maintain position.
C)harvest/divest
D)none of the above.

Question 5

Which of the following is not included in the list of macro environmental variables.

A)prevailing economic conditions and political manifestors.
B)changes in legislation and emerging new technologies.
C)financial conditions and culture.
D)none of the above.

Question 6

The final stage of the consumer shopping/purchase model around which all other stages revolves is the.

A)buy decision stage.
B)active information gathering stage.
C)purchase stage.
D)post-purchase evaluation stage.

Question 7

What type of competitive structure are most retail firms involved in?

A)horizontal competition.
B)monopolistic competition.
C)vertical competition.
D)pure competition.

Question 8

Which one of the following factors is not found on a six month merchandise budget?

A)planned gross margin.
B)current liabilities.
C)planned sales percentage
D)planned purchases at retail.

Question 9

What word best describes the relationship between a retailer's pricing decisions andthe merchandise, location, promotion, credit, services, image and legal decisions thatretailers must make?

A)independent.
B)separate.
C)interactive.
D)competitive.

Question 10

If a retailer is offering the same products and quantities to different customers at different prices, the retailer has what kind of pricing policy?

A)two-price
B)customary.
C)flexible.
D)leader.

Question 11

Which of the following should not be part of the campus shoppe's advertising campaign's objectives. The campus shoppe desires to increase.

A)awareness of its two locations
B)sales among incoming freshmen.
C)sales to 40 percent.
D)all the above belong in the retailer\s advertising objectives

Question 12

Consumer premiums are considered to be a form of.

A)joint-sponsored sales promotion.
B)publicity that utilizes opm.
C)advertising.
D)sole-sponsored sales promotion.

Question 13

Merchandise availability is an example of a.

A)cost of sales
B)pretransaction service.
C)operating cost.
D)transaction service.

Question 14

In which of the following behavioral models there will be no product differentiation and brands as a factor plays very little role in the purchase preferences.

A)complex buying behavior.
B)variety seeking behavior.
C)dissonance reducing behavior.
D)habitual buying behavior

Question 15

Which of the following factors include forces like small groups, family, social roles and status that will have an influence on buyer's behavior?

A)cultural factors.
B)psychological factors.
C)personal factors.
D)social factors

Question 16

Which of the following psychological factors drive a person to satisfy his need and wants.

A)motivation.
B)perception.
C)learning.
D)beliefs and attitudes.

Question 17

Which of the following factors influence the organizational buying decision process?

A)buyers objectives.
B)purchasing policies and resources
C)size and composition or buyers.
D)all of the above.

Question 18

Which method of organizational buying is suitable for he second-hand(used.vehicles, buildings etc, that have unique characteristics, but vary depending ontheir condition and usage.

A)inspection.
B)description.
C)sampling.
D)negotiation.

Question 19

Which of the following do not include while in the learning process of a marketoriented organization.

A)open-minded inquiry.
B)synergistic information distribution.
C)mutually informed interpretation and accessible memory.
D)none of the above.

Question 20

Management information system (MIS. supplies information, which include data from both internal and external sources is useful for .

A)order processing.
B)invoicing.
C)customer analysis and product performance.
D)all of the above.