1. Which of the following is not one of the four commonly recognized forms of utility? a)...
Question:
1. Which of the following is not one of the four commonly recognized forms of utility?
a) Form
b) Time
c) Production
d) Place
e) Possession
2. The income level of the target market influences the choice of promotion techniques the most.
a) True
b) False
3. Borden, Inc. wants to develop a new line of great tasting, low-calorie, low-fat, and low-cholesterol processed cheese products. The managers are studying whether demand is strong enough and whether the new line will yield a favorable return on investment. The managers are currently in which phase of new product development?
a) Idea generation
b) Product development
c) Test marketing
d) Screening
e) Business analysis
4. The sum of the fixed costs and the variable costs attributed to the units produced is the selling price.
a) True
b) False
5. R&P Inc. is an emerging company that wants to focus on personal selling, sales promotion, and public relations activities. R&P's management understands that personal selling is about the personal communication aimed at customers, but they feel that determining more specifics about the products they sell will allow them to better achieve their goal. Another important route they would like to take is to learn more about the various types of sales promotion. Finally, management would like to focus more on publicity-based PR. By concentrating on these areas, the company believes that it will be able to successfully create a promotional campaign.
Refer to R&P Inc. R&P management knows that ____ is the most effective and least expensive means of communicating product information to a large number of individuals and organizations.
a) Advertising
b) Personal selling
c) Sales promotion
d) Public relations
e) Corporate promotion
Microeconomics Principles, Problems and Policies
ISBN: 978-1259450242
20th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn