Q. When producers, wholesalers, and retailers act as a unified system, they comprise a Conventional marketing system.Power-based marketing system.Horizontal marketing system.Vertical marketing system. Answer: Vertical marketing system.

Q. Today's marketers need ______________ Neither creativity nor critical thinking skillsBoth creativity and critical thinking skillsCritical thinking skills but not creativityCreativity but not critical thinking skills Answer: Both creativity and critical thinking skills

Q. Diversification is best described as which of the following? Existing products in new marketsExisting products in existing marketsNew products for new marketsNew products for existing markets Answer: New products for new markets

Q. Market expansion is usually achieved by: More effective use of distributionMore effective use of advertisingBy cutting pricesAll of the above are suitable tactics Answer: All of the above are suitable tactics

Q. Early adopters of which opinion leaders are largely comprised of and tend to be ______________ Generalized; that is, they tend to lead the group on most issuesMore likely to buy new products before their friends do and voice their opinions about themFrom the upper class; people from other ...

Q. The term "marketing mix" describes: A composite analysis of all environmental factors inside and outside the firmA series of business decisions that aid in selling a productThe relationship between a firm's marketing strengths and its business weaknessesA blending of four strategic elements ...

Q. The strategic marketing planning process begins with ______________ The writing of the mission statementThe establishment of organizational objectivesThe formulation of a marketing planHiring a senior planner Answer: The writing of the mission statement

Q. Newsletters, catalogues, and invitations to organization-sponsored events are most closely associated with the marketing mix activity of- PricingDistributionProduct developmentPromotion Answer: Promotion

Q. The ______________ holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency). Product conceptProduction conceptProduction cost expansion conceptMarketing concept Answer: Product concept

Q. The term marketing refers to: New product concepts and improvementsAdvertising and promotion activitiesA philosophy that stresses customer value and satisfactionPlanning sales campaigns Answer: A philosophy that stresses customer value and satisfaction