Name _____________________Social Security # ________________
Please read all questions carefully. You have three hours to complete this exam so please take your time and double check all your answers once you are finished. Make sure your name and social security number are on both the exam form and the answer sheet (scantron).
Caution: This is only a sample exam. It is intended only as a guide to the style of the final exam. The questions on the actual exam are going to be different. Solving this exam is not enough to prepare for the final exam. You must read the book chapters and lecture notes. Also, this exam contains only 20 questions. The final exam will have 50 questions.
1. The life cycle below is most likely a _____________
a. High learning product
b. Low learning product
c. Fashion product
d. Fad Product
e. Rotating Pattern product
2. Dallas-based Dean Foods is one of the leading food and beverage companies in the United States. Its __________ includes soy products, coffee creamers, dips and dressing, pickles, sauce, ice cream, yogurt, sour cream and cottage cheese. Its fresh milk and cream __________ includes regular and flavored milks, lactose-free milk, buttermilk, and half and half.
A)product tangibility; product unit
B)product mix; product unit
C)product line; product mix
D)product unit; product tangibility
E)product mix; product line
3. Among consumer goods, advertising and wide distribution are especially important for:
4.The Upjohn Company first targeted men for its Rogaine topical solution, a prescription drug to restore hair growth, but later marketed this product to women. This is an example of which strategy?
A)Finding new users
B)Creating new use situations
C)Increasing use by existing customers
D)Modifying the product
E)None of the above
You are facing the following demand schedule:
You are also facing the Average Cost table below
Quantity Average cost
5. Use the information given above. Your goal is profit maximization. You should produce:
a. 10 units
b. 20 units
c. 30 units
d. 40 units
e. 50 units
6. Elasticity between 10 and 20 units is approximately (choose the number closest to your answer):
7. In this commercial, three men (approx. in their thirties) are in a parking lot. One of them is getting ready to leave in his car (Honda Civic). The other two men (led by elder of the two) interrogate the car owner (in a superior manner) about the car’s additional features, to which the car owner responds by giving a technical description of the cars engine, to the surprise of the two men. Which of the following is likely to be true for the advertisement below?
a. It could be considered to be a reminder advertisement
b. It attempts to gain audience attention with sex appeal c. It is likely to be a pioneering advertisement
d. It likely attempt to reinforce previous experience with Honda Civic e. It is likely to be a comparative advertisement
8. Which is not used in pretests
a. jury tests
b. attitude tests
c. portfolio tests
d. theater tests
e. tests in which consumers are invited to view new television shows or movies in which test commercials are also shown.
9. Which of the following statements about marginal analysis is incorrect
a. As long as revenue received from an additional unit exceeds the marginal cost associated with that unit, the firm will wish to expand production....