Reference no: EM132211774

1.  Which of the following is NOT considered a product?

A. Tax advice from a financial consultant.

B. A computer.

C. A haircut.

D. A chair.

E. All of these are considered products.

2. If Wendy's decides to test market a hot dog in several stores to determine if it can make more profit from this menu item than from a "Wendy's single," which market opportunity is Wendy's pursuing?

A. Diversification

B. Market development

C. Market penetration

D. Product development

3. Regarding the age trends in the U. S. population for 2010-2020:

A. The average age of the U. S. population is increasing.

B. The number of people in the 45-64 age group is still increasing-although at a slower rate than between 2000-2010.

C. The number of senior citizens in the over-65 age group is increasing at a greater rate than between 2000-2010.

D. The oldest "baby boomers" are now reaching retirement age.

E. All of these statements are correct.

4. The "marketing concept" says that a business firm should:

A. Aim all its efforts at meeting society's needs-regardless of profitability.

B. Aim all its efforts at satisfying its customers-at a profit.

C. Sell those products which it can make at lowest cost.

D. Place heavy emphasis on developing new products.

E. Treat advertising and selling as its priority.

5. Which of the following is true of an in-house advertising agency?

a. It offers more access to top creative talent.

b. It provides greater stability.

c. It provides more objectivity and range of services in comparison to outside agencies.

d. It avoids top management involvement with the marketing communications function

e. It increases advertising and promotion costs.

6. ArcGIS, a GIS for business applications, finds applications in all but one of the following:

Mapping customer databases

Determining site locations

Forecasting demand

Improving delivery service