Free Microeconomics MCQs with Answers

• A. territorial sales force structure
• B. pychographic trait sales force structure
• C. product sales force structure
• D. customer sales force structure

Explanation: Sales responsibilities are commonly divided by territory, product, or customer, but not by psychographic traits.

• A. not manipulating the availability of a product for purpose of explotation
• B. not using coercion in the marketing channel
• C. using gray marketers whenever possible to save the consumer money
• D. not exerting undue influence over the reseller's choice to handle a product

Explanation: Ethical distribution avoids manipulating availability, coercing channel members, and exerting undue influence over resellers.

• A. deciding whether to go international
• B. looking at the global marketing environment
• C. deciding which markets to enter
• D. deciding how to enter markets

Explanation: International marketing planning begins by examining the global marketing environment, including economic, political, legal, cultural, and…

• A. The promotion mix
• B. Integrated international affairs
• C. Integrated marketing communications
• D. Integrated demand characteristics

Explanation: Integrated marketing communications coordinates advertising, sales promotion, public relations, direct marketing and other channels so…

• A. need recognition
• B. brand identification
• C. information search
• D. purchase decision

Explanation: The five stages are need recognition, information search, evaluation of alternatives, purchase decision and post-purchase behavior.

• A. Duobranding
• B. Line extension
• C. Brand extension
• D. Multibranding

Explanation: Brand extension uses an established brand name for a product in a new category, such as a food brand launching household appliances.

• A. the affordable method
• B. the LIFO method
• C. the percentage of sales method
• D. the objective and task method

Explanation: Common promotion-budget methods include the affordable method, percentage-of-sales method and objective-and-task method, along with…

• A. micro marketing
• B. niche marketing
• C. mass marketing
• D. segment marketing

Explanation: Niche marketing targets a narrowly defined subsegment whose customers have distinctive needs and seek a particular combination of…

• A. horizontal conflicts
• B. vertical conflicts
• C. layer-based conflicts
• D. parallel conflicts

Explanation: Vertical conflict occurs between firms at different levels of the same distribution channel, such as a manufacturer and a retailer.

• A. Product idea
• B. Product image
• C. Product concept
• D. Product features

Explanation: A product concept is a detailed description of a proposed product in meaningful consumer terms, including its target user, purpose and…

• A. Concept development and testing
• B. Marketing strategy
• C. Business analysis
• D. Product development

Explanation: During product development, research and development converts the tested product concept into a physical product or prototype.

• A. market oriented
• B. a statement of religion
• C. motivating
• D. based on distinctive competencies

Explanation: A good mission statement is market-oriented, motivating and grounded in the organization’s distinctive competencies.

• A. Prospecting
• B. Preapproach
• C. Approach
• D. Handling objections

Explanation: The preapproach takes place after prospecting and before the sales call, allowing the salesperson to research the prospect and plan the…

• A. modified rebuy
• B. new task buying
• C. straight rebuy
• D. indirect rebuy

Explanation: A modified rebuy gives the buyer a chance to reconsider specifications, prices, or suppliers, so existing suppliers feel pressure from…

• A. Core Process products selling
• B. Design Products selling
• C. Reciprocal spelling
• D. Systems selling

Explanation: Systems selling combines several related products and services into one complete solution, such as designing, constructing, equipping, and…

• A. shopping goods store
• B. convenience store
• C. specialty store
• D. department store

Explanation: A specialty store concentrates on a narrow product line but offers many choices within that line, such as a shoe or jewelry store.

• A. custom products
• B. specialty products
• C. convenience products
• D. shopping products

Explanation: Specialty products have distinctive features or strong brand identification, and buyers are willing to make a special effort to obtain…

• A. Environmentalism
• B. Environmental sustainability
• C. Consumerism
• D. Consumer accountability

Explanation: Environmental sustainability means operating in ways that protect environmental resources while remaining economically profitable.

• A. quota
• B. barrier
• C. tariff
• D. embargo

Explanation: A quota is a quantitative limit on how much of a product may be imported.

• A. interstate commerce
• B. marketing ethics
• C. unfair and deceptive acts or practices
• D. competitive advertising of objective product benefits

Explanation: The Wheeler-Lea Act expanded the Federal Trade Commission's authority over unfair or deceptive acts and practices in advertising and…