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Multiple Choice Quiz
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1
Identifying a target market and finding out if it matches customer desires is referred to as
A)demographics.
B)forecasting.
C)marketing research.
D)price indexing.
2
An organization that makes a profit by providing goods and services to customers is called a(n)
A)limited company.
B)franchise.
C)"S" corporation.
D)business.
3
The money left over after all expenses are paid is called
A)gross income.
B)profit.
C)the price point.
D)the vigorish.
4
The over-commitment of marketing to a particular answer is considered
A)escalation of commitment.
B)loss aversion.
C)escalation of commitment and loss aversion.
D)None of these answers is correct.
5
A method by which an organization deploys its resources to realize a goal is called
A)a strategic plan
B)JIT (just in time) delivery.
C)outsourcing.
D)All these answers are correct.
6
Weaknesses are things that a company lacks or does poorly, with the best example being
A)poor location.
B)limited financial resources.
C)insufficient information.
D)All these answers are correct.
7
________ is used to collect information and opinions about a product and can be done at a mall or by mail, e-mail, Internet, or phone.
A)Observation
B)Experimentation
C)Survey research
D)None of these answers is correct.
8
Directly monitoring customers' buying patterns is identified by the term
A)observation.
B)experimentation.
C)survey research.
D)None of these answers is correct.
9
A business starting out with questionable assumptions can make incorrect predictions, take inappropriate actions, and wind up with disappointing outcomes, a process sometimes referred to as the "________."
A)circular argument
B)slippery slope
C)doom loop
D)revolving door
10
Which Japanese carmaker won the biggest initial share of the American market by utilizing a larger engine in their cars?
A)Datsun
B)Honda
C)Hyundai
D)Nissan
11
"Betamax" is a copyrighted video format owned by which of these companies?
A)Altec-Lansing
B)JVC
C)Datsun
D)Sony
12
The first Nissan sports car destined for the American market was named
A)My Fair Lady.
B)260-Z.
C)Spyder.
D)Monza.
13
Western Union failed to anticipate the future of communications in America and declined to purchase the patent for
A)the telegraph.
B)the telephone.
C)the facsimile.
D)twisted-pair copper wire.
14
The world's largest corporation is currently
A)Walmart.
B)McDonalds.
C)AT&T.
D)Kmart.
15
Many of the ads imbedded within The Real World and American Idol are designed to sell
A)clothing.
B)travel services.
C)cell phones.
D)fast food.







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