Which of the following is true regarding shopping products ? B) Improved decision making results in a large monetary value for the firm as numerous small daily decisions affecting efficiency, production, costs, and more add up to large annual values. a. tests of a product can safely assume that the product will be used in just the way that the manufacturer intends it to be used. Short Title. Business marketers have many more customers than consumer marketers. The higher . They receive goods or services from suppliers within the organization. Marketing strategies to deal with choice overload include A. increasing the number of product assortments. As you can see, such products are a little more involving: they require more time, thinking and investment than convenience products. 4. Understand its consumers, markets, and competitors and develop products that deliver superior value. During the maturity stage of a product/service, companies need to develop a responsive supply chain. People do not buy benefits, they buy features. 249.After years of selling in the consumer market, Dave accepted a job . MKT 6301-Chapter 7. d) Physiological needs. The CPI is used extensively in many different ways: to adjust historical data, to escalate federal payments and tax brackets, and to adjust rents and wages. Economic indicators provide a long term . 33. a. b) Customers can be described as clients. (a) Initial notice and opt-out requirement —. It is often necessary to conduct research. (b) ISRO. Truthful, and; backed up with evidence, such as official. A.Organizations are applying theories and information about consumer behavior on a daily basis. The client eventually reimburses all costs incurred by agencies during the pitch process. It is unlawful to make false or misleading representations about products and services when supplying, offering to supply or promoting those products or services. B. selecting alternatives that have little meaningful differences. C) Consumer behavior is a complex, multidimensional process. During the growth stage of a product/service, companies need to develop an efficient supply chain. D) Marketing practices designed to influence consumer behavior involve ethical issues that affect the firm, the individual, and society. C) Improved decision making enables senior executives to more accurately foresee future financial trends. The behavior that consumers use to search for, purchase, use, evaluate, and dispose of products is known as: a) social responsibility b) consumer behavior. multiple choices: None of these statements are correct All of the statements . True False 3. If you're thinking about advertising on the Internet, remember that many of the same rules that apply to other forms of advertising apply to electronic marketing. 2) When a company dramatically changes its product's packaging, most likely, it's main objective is to: Answer: differentiate its products from its competitors. B) may be better able to . Business-to-business markets make greater use of marketing intermediaries such as wholesalers and retailers than do consumer markets. c _____ a. b. if a product poses a . Economic indicators are macroeconomic by their very nature. A company does not need a large size to facilitate, and benefit from, the globalization of markets. Question: Which of the following statements are true regarding the function HAL_ADC_Poll ForConversion () when the ADC is used in the polling mode? c) Social needs. — This Act shall be known as the "Consumer Act of the Philippines.". It evaluates only the goods and services produced by domestic firms. b. Cross-listing establishes name recognition of the company in a new capital market. These rules and guidelines protect businesses and consumers - and help maintain the credibility . Quiz 8 QUESTION 1 One suggestion for handling consumer complaints effectively is to show empathy for the customer's situation. b. Which of the following statements regarding cross-listing is not true? When considering the best channel to use, all of the following are true with regard to larger firms except they: A) can use an extensive product mix as a competitive tool. Question 28. E. Consumer awareness is important so that buyer can take the right decision and make the right choice. This is the second in a series of three articles about complementary and alternative medicine (CAM) in the U.S. Part 1, in the August issue of P&T, focused on the widespread use of CAM and dietary supplements and the need for better-informed health care professionals to provide patient counseling about these treatments.Part 3 will address health care facility policies and practices regarding . Bait And Switch Advertising. Internal databases are built upon records of consumer and market information data sources within the company network. Consumer products producers should rely almost completely on personal selling in the market maturity stage. "Product" means: A) A physical good or service which offers potential customer satisfaction. Unfair, deceptive, or abusive acts and practices (UDAAP) can cause significant financial injury to consumers, erode consumer confidence, and undermine the financial marketplace. Group of answer choices. _____ d. A feature provides the consumer with a personal . It is updated on a rolling basis once a year by measuring all the sectors of the economy. B. It must be called before HAL_ADC_GetValue (); otherwise, a . Which of the following statements is NOT true about the concept of a customer? Term. Which of the following is a true statement regarding inflation: a. A financial institution shall not disclose to, or share a consumer's nonpublic . All of the following statements are true about product and project life cycles except: a Generally a product lifecycle is contained within a project lifecycle. a. rewarding or punishing parties that comply with, or break environmental laws respectively b. promoting social justice by advocating for a more just and humane society These include products that are covered under other legislation such as food, cosmetics, medical devices, drugs, natural health products, pest control products, fertilizers and vehicles. It does not affect everyone in the economy c. It impacts only low-income consumers d. It is a general trend in which some prices may go down It is a general trend in which some prices may go down But for products and categories that already exist in the market, the 5 stages of . A. The warranty of merchantability is based off the idea that the seller is in a better state to know whether a product will perform properly. Section 4 of the Canada Consumer Product Safety Act (CCPSA) outlines the consumer products to which the CCPSA does not apply, including those listed in Schedule I. c. Therefore, consumers spend much more time and effort in gathering information and comparing alternatives. (c) ISO. Search this regulation. The four type of consumer buying behavior are: Routine Response/Programmed Behavior--buying low involvement frequently purchased low cost items; need very little search and decision effort; purchased almost automatically. Consumers have the right to information, right to choose, right to safety. (d) None of the above (that is, all statements are true). (c) The index most frequently used by economists to measure inflation is the Consumer Price Index. 5) Silk-skin Cosmetics is advertising its newest line of eye makeup. B. In order to pitch effectively, the agency must allocate material resources and a tremendous number of team hours to meetings, research, and creating the pitch. Code Sec. Get unbiased ratings and reviews for 9,000+ products and services from Consumer Reports, plus trusted advice and in-depth reporting on what matters most. Question. Under the Product Liability Directive, a producer is liable for damages caused by a defect in their product. (a) Agricultural economics is an applied social science. Changes in the CPI are commonly used to measure inflation. True False 2. Read Paper. Basic needs such as hunger and thirst are called: a) Safety needs. Take the quiz test your understanding of the key concepts covered in the chapter. c) A customer doesn't necessarily consume the product that they have purchased. Consumer survey examples are also key sources of . The government has no role to play production and distribution of goods. See the answer. The main advantage for business marketers is that each customer becomes crucial-especially for those manufacturers that have only one customer. The Food Allergen Labeling and Consumer Protection Act (FALCPA) will improve food labeling information for the millions of consumers who suffer from food allergies. increasing the acid content of the food. Prices is less important in the purchase of heterogeneous shopping products than homogeneous shopping products b. ECO 102 Macroeconomics Unit 2 Milestone 2 Sophia Course Click below link for Answer 1 Which graph accurately represents Silvia's consumer surplus if she is willing to pay up to $20,000 for a new car, but she finds one on sale for $15,000? Marketers can attempt to influence the weighting (i.e., importance) of the various criteria that consumers use when evaluating a) A customer and consumer are always the same thing - the terms are completely interchangeable. For years now, Consumer survey research has been instrumental in providing a platform for the clientele to opine about an organization's products or roadmap. There cannot be a standardised measure for utility. 5. Is EPA aware of the report by the U.S. Centers for Disease Control and Prevention (CDC) and the Agency for Toxic Substances and Disease Registry (ATSDR) that evaluated possible health effects from formaldehyde found in laminated flooring . Food irradiation to preserve foods is dangerous and outlawed by the government. (1) In general. They buy products or services for their own personal use. It can be called after each conversion. Compared to heterogeneous shopping products , homogeneous shopping products are usually more standardized 11) ________ is a pure marker of low positive affect. b. Silk-skin is selling the products in specially designed tubes that make it easier to apply to the skin. Which of the following would be considered the . Answer. d) Students can be described as customers of a . After all, a seller is in a better place to know if a car isn't in an adequate state to drive, a blender is . To properly protect consumers, _______. 1) The huge success of Heinz Ketchup's plastic squeeze bottles is an example of differentiation on the basis of: Answer: packaging. A) Organizations are applying theories and information about consumer behavior on a daily basis. Positive affect refers to feeling positive and good about oneself. The shift toward a more integrated and interdependent world economy is referred to as globalization. See the answer See the answer done loading. This right ensures safety of consumers against injuries caused by the products when the products are purchased. The latest news articles from Billboard Magazine, including reviews, business, pop, hip-hop, Which of the following statements about the b2b. Group of answer choices The basket of goods. (d) WCF. The marketing mix is often known as the 3Ps. We hope the given NCERT MCQ Questions for Class 10 Economics Chapter 5 Consumer Rights with Answers Pdf free download will help you. C. For instance, a business must not make false or misleading representations about: the sponsorship, approval, performance characteristics, accessories, benefits and uses of products or . New ⇒ The vast majority of consumer . Which of the following are true regarding the CPI? A. (b) The rational consumer maximizes satisfaction subject to a budget constraint. — It is the policy of the State to protect the interests of the consumer, promote his general welfare and to establish standards of conduct for business and industry. The Internet is connecting advertisers and marketers to customers from Boston to Bali with text, interactive graphics, video and audio. It is a type of fraudulent business practice where one party, such as a manufacturer or business, will offer the "bait". People with high positive affect feel elated, feel happier than others. 1. Declaration of Basic Policy. A) True B) False 5) Which of the following are true statements regarding the structure and role of the mitochondria in bacterial cells? Pet foods. For these purposes, a product is defined as "all movables even if incorporated into another movable or into an immovable", and this definition includes electricity ( Article 2, Product Liability Directive ). B.It is often necessary to conduct research.C.Consumer behavior is a complex, multidimensional process. The CPI is calculated by the U.S. Bureau of Labor Statistics (BLS) every month. This landmark consumer product safety law amended CPSA in 2008 and provided CPSC with significant new regulatory and enforcement tools as part of amending and enhancing several CPSC statutes, including the Consumer Product Safety Act. 2.The Right to Choose Freely - The right to free choice among products states that consumers will have a variety of options provided by . B) It is often necessary to conduct research. Spend more on R&D than its competitors. . The Act will be especially . True False 3 points QUESTION 2 Satisfaction, joy, anger, and frustration are examples of post consumption behaviors. This problem has been solved! D. Focus their new product development efforts only on consumers. A. Made from all-natural ingredients, the products are hypoallergenic. C. subscription decision services such as e-tailer Stich Fix. a. Cross-listing provides a means for expanding the firms base for an investor's stock. 4053 (a) (1) The CFIPA requires a financial institution to provide the consumer with the opportunity to "opt-out" of having the consumer's information shared with an affiliated party prior to sharing a consumer's information with an affiliate. B. Which of the following is/are true? The Right to Be Safe - The Right was established in 1972 by the U.S. federal government. The CPSIA included provisions addressing, among other things, lead, phthalates , toy safety , durable infant or . Correct option is B) Market economy has private ownership where utilisation of resources and henceforth distribution of goods takes place for private gains. Art. Choose one answer. Definition of Perceived Risk. C. Consumer behavior is a complex, multidimensional process. Some commonly used environmental terms used are words like "biodegradable," "recyclable," or "Non-toxic.". Chapter 01 Globalization True / False Questions 1. Examples include soft drinks, snack foods, milk etc. It directly affects the lives of Americans, so it must . Which of the following statements regarding the American Customer Satisfaction Index is true? true. The adoption process for a new product is the mental process through which an individual passes from first learning about an innovation to final adoption. In simple terms, perceived risk is the ambiguity that consumers have before purchasing any product or service. Modified date: December 22, 2019. D. increasing the square footage in brick and mortar stores. That if the plaintiff, applying the knowledge of an ordinary consumer, sees the danger and can appreciate that danger, then he cannot recover for any injury resulting from that appreciated danger.B. binding water so it is not available for microorganisms. Economic risk. Consumer Awareness is an act of making sure the buyer or consumer is aware of the information about products, goods, services, and consumers rights. Sugar and salt act as preservatives by: killing microorganisms directly. Responsibility for a product defect that causes injury lies with all sellers of the product who are in the distribution chain. a term that is used in Marketing and sales, Perceived Risk refers to the customer's . Which of the following statements is . increasing the water content of food. It is not effective in D) All of the elements in a firm's marketing mix. The relationship between the importer and any middleman is similar to that found in a mass-marketing system. Organizations are applying theories and information about consumer behavior on a daily basis. A. E. none of the above. a. Which of the following is the Environmental Protection Agency (EPA) most concerned with regarding the enforcement of environmental justice? Consumer Survey is a source to obtain information about consumer satisfaction levels with existing products and their opinions and expectations regarding new products and services. The FTC's Bureau of Consumer Protection stops unfair, deceptive and fraudulent business practices by collecting reports from consumers and conducting investigations, suing companies and people that break the law, developing rules to maintain a fair marketplace, and educating consumers and businesses about their rights and responsibilities. B) A physical good with all its related features. Monetary and Fiscal Policy 15 Select the true statement below regarding economic indicators. That if the plaintiff, applying the knowledge of an ordinary consumer, sees the danger and can appreciate that danger, then he cannot recover for any injury resulting from that appreciated danger.B. For example, the accounting department provides records of sales, costs, and cash flows; operations reports on production-related issues; sales and marketing provide data on resellers, competitors, buyer behavior, and the industry; and marketing provides information on customer . _____ c. Prospects usually display equal interest in features and benefits. The price will fall until it reaches equilibrium. Question: Question 19 0.4 pts Which of the following is true regarding the legal protection of consumer interests? As recognized by the court in Sperry-New Holland v. John Paul Prestage and Pam Prestage, which of the following is true regarding the consumer expectations test for product defect? Which of the following statements regarding consumer "choice criteria" and "decision making rules" is true? The following types of products are not subject to these requirements, since they are governed by other Canadian legislation: chemical products used exclusively in the workplace, cosmetics, drugs, explosives, foods, medical devices, nuclear substances, pest control products and tobacco products. Various state and federal consumer laws protect consumers from the unfair trade practices of sellers, as well as from unsafe products. Which of the following is a key aspect regarding consumer behavior? You may not use eligibility information about a consumer that you receive from an affiliate to make a solicitation for marketing purposes to the consumer, unless: (i) It is clearly and conspicuously disclosed to the consumer in writing or, if the consumer . 7. E) Something that has been produced, packaged, branded, and given a warranty. During the growth stage of a product/service, companies need to develop a responsive supply chain. a. According to Arrow (1950), Humphreys and Kenderdine (1979) and Taylor (1975), Perceived risk "represents an uncertain, probabilistic potential future outlay". A. Consumer Protection Law and Environmental claims. It is lot easier for business marketers to identify prospective buyers, monitor current customers' needs and levels of satisfaction. It is used to check if the ADC. Answer. 13. C) The entire physical output of a firm. Multiple Choice Quiz. Also, people with high positive affect adopt healthy coping styles, have a high self-esteem and are more achievement oriented. _____ b. b A project life cycle is determined by the organisation and generally consists of phases that may be sequential or overlapping. 4) In the food industry, all microbes are considered bad, and must be eliminated from the food products to ensure consumer safety. A) Improved decision making creates better products. The organisation which lays down standards of products at the international level is called: (a) ISI. For a discussion of testing the indoor air of your home for formaldehyde, see Q&A's #11 and #13). 6. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), it is unlawful for any provider of consumer financial products or services or a . Utility is a subjective concept and varies from person to person, at different times and at different places. Which one of the following statements regarding product benefits is true? Get unbiased ratings and reviews for 9,000+ products and services from Consumer Reports, plus trusted advice and in-depth reporting on what matters most. Learn why consumers buy a product or service and what is their likelihood of purchasing the product from your company again. Bait and switch advertising is a violation of consumer laws. c. Cross-listing mitigates the possibility of a hostile takeover of . b. Product liability refers to a manufacturer or seller being held liable for placing a defective product into the hands of a consumer. Use our free consumer product registration survey questions to understand whether a product is a success or failure with the consumers, reasons for purchasing the products, and demographic segmentation. C. Obtain successful products through acquisitions instead of doing internal development. The Competition Bureau is responsible for the administration of the Consumer Packaging and Labelling Act and Regulations regarding all consumer pet food products. a. 2. It encourages merchants to ensure the quality of their products before placing them on the market. Which of the following statements is true regarding an import-oriented distribution structure? Try testing yourself before you read the chapter to see where your strengths and weaknesses are, then test yourself again once you've read the chapter to see how well you've understood. Marketers can influence which product attributes are used by consumers when making a purchase decision. D.Marketing practices designed to influence consumer behavior involve ethical issues that affect the firm, the individual, and society. The importer-wholesaler traditionally performs most of the marketing functions. This could be a product that is advertised at a very low cost and is designed to lure in a customer. It is based on customer evaluations of the quality of goods and services. As recognized by the court in Sperry-New Holland v. John Paul Prestage and Pam Prestage, which of the following is true regarding the consumer expectations test for product defect? Examples of shopping products include furniture, clothing, used cars, airline services etc. Therefore, the point that utility always measurable is not true. false? Consumer Surplus 2 If an excise tax is imposed on a product, which of the following will happen? In general terms, the law requires that a product meet the ordinary expectations of . The Consumer Price Index (CPI) is an estimate of the average change in prices over time paid by urban consumers for a market basket of consumer goods and services in the United States. A benefit provides the customer with a personal advantage or gain. For further information regarding the Cosmetics Regulations, contact the office of the Consumer Product Safety Bureau, Health Canada in your area. The basket of goods included in the CPI is updated every year. b) Psychological needs. Reminding becomes important in the market introduction stage.→ More targeted promotion is needed during the sales decline stage of the product life cycle.Informing becomes important in the market growth stage.None of the above is true. Answer. The Federal Trade Commission stipulates that environmental claims should be: Specific. 1. True False 3 points QUESTION 3 The five stages of the consumer adoption process are awareness, interest, evaluation, trial, and adoption. Consumer laws are in the form of statutes, not administrative rules. A. (Select ALL correct answers) It clears the end-of-conversion flag. It is always caused by consumer demand b. Which of the following statements regarding internal customers of an organization is true? E) the possibility of having beautiful eyes.

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