True or False Question 27 The market structure with few competitors and where ea

Question

True or False

Question 27

The market structure with few competitors and where ease of entry into the industry by new firms is difficult is an oligopoly.

True

False

Question 28

Word-of-mouth reports and mass advertising have very little effect on hesitant buyers making an initial product purchase during the growth stage of the product life cycle.

True

False

Question 29

A market characterized by heterogeneous, well-differentiated products sold by a large number of sellers with some price control to a large number of buyers is monopolistically competitive.

True

False

Question 30

Consumer goods are often classified as convenience, shopping, and specialty goods based on customers' buying behavior.

True

False

Question 32

Customer service strategy is designed to enhance the relationship between the store and the customers, but can have little impact on building demand for a line of merchandise.

True

False

Question 33

Sending varied, diverse promotional messages is considered effective for stimulating and holding customer interest.

True

False

Question 34

Institutional advertising promotes a concept, idea, philosophy or the goodwill of an industry.

True

False

Question 35

Commercialization should progress if and only if a product has survived all the steps in the product development process.

True

False

Question 36

The purchase of convenience products is often the result of an arduous process, requiring great input on the part of the buyer.

True

False

Question 37

The selection of a test market usually requires a geographic area of manageable size, with residents whose ages, education level, and income are representative of the chosen segment of the overall popultion.

True

False

Question 38

Seeing a brand name you know and trust among the array of choices available does not really help in making your purchasing decision quicker and easier.

True

False

Question 39

To compete effectively during the growth stage of a product's life cycle, firms rarely need to make improvements or change the product.

True

False

Question 40

After identifying a target market, a retailer must then develop marketing strategies to attract these chosen customers to its stores.

True

False

Question 41

All products move rapidly through the product life cycle.

True

False

Question 42

A dominant trend in retailing today is a decreased emphasis on market segmentation.

True

False

Question 43

Most promotional efforts still pursue the objective of increasing the demand for a specific product.

True

False

Question 44

Actions taken by marketers early in the introductory stage of the product life cycle can extend the product life cycle indefinitely.

True

False

Question 45

As long as marketers carefully choose their advertising slogans and images, targeted customers will encode the message easily and consistently.

True

False

Question 46

Paid, non-personal communications through various media whose sponsor is identified are called sales promotions.

True

False

Question 47

Broadly defined, a product is a bundle of physical, service, and symbolic attributes designed to enhance customer want satisfaction.

True

False

Question 48

When a consumer interprets an advertising message, he or she is involved in the decoding step in the communication process.

True

False

Question 49

Pricing objectives represent components of the organization's overall objectives.

True

False

Question 51

Marketers can increase purchase frequency by persuading customers to try a product year round, rather than on a seasonal basis.

True

False

Question 52

During the initial stage of the product life cycle, firms work to stimulate demand for the new market entry.

True

False

Question 53

Sales volumes rise rapidly during the growth stage of the product life cycle as new customers make initial purchases and early buyers repurchase the product.

True

False

Question 54

A market characterized by heterogeneous well- differentiated products sold by a large number of sellers with some price control to a large number of buyers is monopolistically competitve.

True

False

Question 55

Advertising is one effective way to increase consumer awareness of a brand.

True

False

Explanation / Answer

27.T

28.F

29.F

30.T

32.T

33.T

34.T

35.F

36.F

37.T

38.F

39.T

40.T

41.F

42.T

43.T

44.F

45.T

46.T

47.T

48.T

49.F

51.T

52.T

53.T

54.T

55.T

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