Business Marketing MCQs (Chapterwise Multiple Choice Questions)

In the world of marketing, __________ are ideas about products or services.

Concepts

Notions

Perceptions

Impressions

Theories

Answer & Explanation

Correct Answer: Concepts

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Large companies may manage a number of very different businesses called _____.

Business clusters

Focus groups

Strategic business alliances

Strategic business units

Answer & Explanation

Correct Answer: Strategic business units

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_________________________ systems help a firm to analyze, model, and optimize its supply chain.

Supply chain planning

Marketing

Supplier

Demand chain planning

Answer & Explanation

Correct Answer: Supply chain planning

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In the past, __________ controlled supply chains.

Retailers

Manufacturers

Government agencies

Wholesalers

Distributors

Answer & Explanation

Correct Answer: Manufacturers

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The 80/20 rule is most directly related to ________ segmentation.

Emographic

Behavioral

Geodemographic

Socioeconomic

Answer & Explanation

Correct Answer: Behavioral

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Companies are price-takers when ________.

Heir products are unique

There is very little competition

Pricing approach emphasizes cost-plus pricing

They have little or no control over the prices of their products or services

Answer & Explanation

Correct Answer: They have little or no control over the prices of their products or services

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In the prospecting and qualifying step of the selling process, the salesperson __________.

An approach that focuses on making an immediate sale with little concern for developing a long-term relationship with the customer

Talking with and providing information to government officials to persuade them to vote a certain way on pending legislation

Materials such as logos, brochures, building design, and stationery that communicate an image of the organization

Qualifies a customer on the basis of financial ability, volume of business, special needs, location, and growth possibilities

Answer & Explanation

Correct Answer: Qualifies a customer on the basis of financial ability, volume of business, special needs, location, and growth possibilities

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By providing good customer service, firms __________ their products or services.

Eliminate the communication gap for

Add value to

Reduce the zone of tolerance for

Reduce the empowerment cost associated with

Increase the perishability of

Answer & Explanation

Correct Answer: Add value to

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A buyer who says "your company is too small to meet my needs" is expressing a _____.

Price objection

Time objection

Source objection

Need objection

Product objection

Answer & Explanation

Correct Answer: Source objection

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A firm's decision to identify and develop new markets for existing products is a ________ strategy.

Market development

Market differentiation

Market penetration

Product development

Diversification

Answer & Explanation

Correct Answer: Market development

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Business Marketing Quick Quiz

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