Question 1

One of the advantages that price skimming offers over penetration pricing is that:

Options :

A : competitors cannot enter the market easily.

B : a firm that sets a high price initially can lower its price easily.

C : the cost of production decreases with an increase in production capacity.

D : profits and market share can be built quickly.

E : it allows a company to target the most price-sensitive segments first.

Answer: B

Question 2

Jim was born after World War II in the year 1949 in the U.S. If most of his friends were born between 1957 and 1950, Jim and his friends would be considered part of _____

Options :

A : cohorts

B : Generation Xers.

C : baby boomers

D : Generation Yers

E : Generation Zers

Answer: C

Question 3

According to the AMA Statement of Ethics, a marketer who embraces the ethical value of responsibility is expected to:

Options :

A : contribute to charities and other social causes.

B : avoid using coercion with all stakeholders.

C : avoid knowing participation in conflicts of interest.

D :

listen to the needs of customers and make all reasonable efforts to monitor and improve their satisfaction on an ongoing basis.

E : disclose list prices and terms of financing as well as available price deals and adjustments.

Answer: B

Question 4

The place aspect of the marketing mix typically involves interactions between the marketer and _____.

Options :

A : customers

B : regulatory bodies

C : suppliers

D : advertisers

Answer: C

Question 5

X-Pert Bikes sells bikes for people of all ages. The company is entering the Indian market for the first time. Indian consumers are not familiar with the brand or its products. The company is planning its introductory ad campaign. Which of the following should the company aim to build first?

Options :

A : Brand awareness

B : Brand dilution

C : Brand parity

D : Brand extension

E : Brand loyalty

Answer: A

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