Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Part 1 > Economics, Marketing > Flashcards

Economics, Marketing Flashcards

1
Q
  1. The key players in the chain of activities that connect food and
    agriculture are the farmer/fishermen, intermediaries, the food
    processors and the consumers. The producers interest is focused on
    getting produce at:
    a. minimum price, limited quantities
    b. minimum price, unlimited quantities
    c. maximum price, limited quantities
    d. maximum price, unlimited quantities
A

d. maximum price, unlimited quantities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The key players in the chain of activities that connect food and agriculture are
the farmer/fishermen, intermediaries, the food processors and the
consumers. The traders and retailers interest is focused on getting produce at:
a. low purchase price, unlimited quantities
b. low purchase price, high quality
c. low purchase price, limited quantities
d. low purchase price, low quality

A

b. low purchase price, high quality

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

These key players has the same interests on purchasing
produce at low price at high quality except one:
a. Consumers
b. Manufacturers
c. Farmers
d. Intermediaries

A

c. Farmers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

In agricultural and food marketing processes has three sets of
functions of a marketing system, namely the exchange function,
the physical function and the facilitating function. The exchange
function involves the following except:
a. buying
b. selling
c. processing
d. storage

A

c. processing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

In agricultural and food marketing processes has three sets of functions of a marketing system, namely the exchange function, the physical function and the facilitating function. The physical function involves the following except:
a. financing
b. transportation
c. processing
d. standardization

A

a. financing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

In agricultural and food marketing processes has three sets of functions of a marketing system, namely the exchange function, the physical function and the facilitating function. The facilitating function involves the following except:
a. risk bearing
b. market intelligence
c. financing
d. standardization

A

d. standardization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

A name, term, symbol, or design or combination of these which is intended to differentiate products or services from those of competitors.
a. brand image
b. brand name
c. brand
d. brand loyalty

A

c. brand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

The recently added link between producer and consumer is:
a. commodity traders
b. processors
c. scientists
d. retailers

A

c. scientists

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

A form of communication which a sponsor pays to have transmitted via mass media such as television, radio, cinema screens, newspapers, magazines and/or direct mail. It is intended to both inform and persuade.
a. mass media
b. advertising
c. information dissemination
d. promotional activity

A

b. advertising

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

A system of trade in commodities in which prospective
buyers and sellers are brought together under the auspices of an independent auctioneer who invites bids for the products or produce offered for sale.
a. barter
b. marketing
c. trading
d. auction

A

d. auction

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

The set of attributes, characteristics and benefits which a
brand is perceived to possess.
a. brand image
b. brand name
c. brand
d. brand loyalty

A

a. brand image

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

It is which at a given selling price, sales volumes are just
sufficient to cover the organizations fixed and variable costs.
a. surplus
b. profit
c. breakeven point
d. return of investment

A

c. breakeven point

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Objective characteristics used to describe populations, such
as age, income, education and geographical location.
a. demographics
b. profile
c. characteristics
d. description

A

a. demographics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

The tendency to repeatedly buy a particular brand on a high
percentage of possible purchase occasions.
a. brand image
b. brand name
c. brand
d. brand loyalty

A

d. brand loyalty

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

This is the most difficult to achieve in the case of most
agricultural marketing parastatals because they generally have
social objectives that have overshadowed any commercial
objectives. Potential investors may have little interest in being
saddled with the residual social objectives, where these exist.
a. Full privatization
b. Partial sale of equity
c. Privatization of non-core assets
and functions
d. Privatization of management

A

a. Full privatization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

The strategy of pursuing several market segments with
particular marketing mixes tailored to the needs of each segment.
a. marketing
b. unified marketing
c. marketing concept
d. differentiated marketing

A

d. differentiated marketing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

It employs short-term incentives, such as free gifts, moneyoff
coupons, product samples etc., and its effects also tend to be
short-term.
a. sales promotion
c. public relations
b. Advertising
d. personal selling

A

a. sales promotion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Brand names which are literal and explicit in conveying some
tangible characteristic of the product. An example would be
‘Sweet Cure Bacon’ which denotes a bacon with a sweet taste.
a. brand name
b. denotative brand name
c. brand image
d. brand figure

A

b. denotative brand name

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

This can involve the sale or lease of some manufacturing and
distribution activities (e.g. collection, testing/grading, delivery to
low density/rural markets), engaging in joint-ventures with
private enterprise, etc.
a. Full privatization
b. Partial sale of equity
c. Privatization of non-core assets and functions
d. Privatization of management

A

c. Privatization of non-core assets and functions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Unbranded products is also termed as
a. all-purpose products
b. unknown products
c. common products
d. generic products

A

d. generic products

21
Q

Variables such as social class, personality and life style
(attitudes, interests and opinions) which can be used to segment
markets.
a. demographics
b. psychographics
c. personal information’s
d. bio- data

A

b. psychographics

22
Q

A brand or part of a brand that to which a seller has a legally
enforceable, exclusive, right to use.
a. brand image
b. brand name
c. trademark
d. icon

A

c. trademark

23
Q

Intermediaries acting to make marketing systems more
efficient by buying a variety of products, in fairly large
quantities, and selling these items on to other businesses who
require relatively small quantities of a variety of goods.
a. retailers
c. wholesalers
b. agents
d. assemblers

A

c. wholesalers

24
Q

A set of numbered vertical bars appearing on the labels or
packs of goods and which can be read by scanner systems.
These numbers and bars constitute a code containing such
information as country of origin, supplier, product category,
product size, pack type and price.
a. unified product price
b. unified product code
c. bar code
d. unified delivered pricin

A

b. unified product code

25
Q

It is the advantage of sales promotion:
a. gains attentions and has instant effect
b. permits flexible presentation and gains immediate
response
c. appropriate for reaching mass audience, allows direct
appeal and control over the message
d. has a high degree of believability when done well

A

a. gains attentions and has instant effect

26
Q

The ownership of state assets to be retained by the state but
management privatized by way of contract.
a. Full privatization
b. Partial sale of equity
c. Privatization of non-core assets
and functions
d. Privatization of management

A

d. Privatization of management

27
Q

It is the percentage of the final weighted average selling price
taken by each stage of the marketing chain.
a. marketing index
c. marketing percentage
b. marketing average
d. marketing margin

A

d. marketing margin

28
Q

A marketing communication that is the most visible element
of the communications mix because it makes use of the mass
media, i.e. newspapers, television, radio, magazines, bus
hoardings and billboards.
a. sales promotion
c. public relations
b. advertising
d. personal selling

A

b. advertising

29
Q

It may be possible to sell part of the equity of a state owned
company. Equity may be sold privately to particular groups, e.g.
producers of the raw material, staff members of the enterprise,
indigenous people etc.
a. Full privatization
b. Partial sale of equity
c. Privatization of non-core assets
and functions
d. Privatization of management

A

b. Partial sale of equity

30
Q

It is the organization’s communications with its various
publics. These publics include customers, suppliers, stockholders
(shareholders, financial institutions and others with money invested in the business), employees, the government and the general public.
a. sales promotion
c. public relations
b. advertising
d. personal selling

A

c. public relations

31
Q

It is the advantage of public relations:
a. gains attentions and has instant effect
b. permits flexible presentation and gains immediate response
c. appropriate for reaching mass audience, allows direct appeal
and control over the message
d. has a high degree of believability when done well.

A

d. has a high degree of believability when done well.

32
Q

It is described as an interpersonal influence process involving
an agribusiness’ promotional presentation conducted on a
person-to-person basis with the prospective buyer.
a. sales promotion
c. public relations
b. advertising
d. personal selling

A

d. personal selling

33
Q

It is the advantage of personal selling:
a. gains attentions and has instant effect
b. permits flexible presentation and gains immediate response
c. appropriate for reaching mass audience, allows direct appeal
and control over the message
d. Has a high degree of believability when done well.

A

b. permits flexible presentation and gains immediate response

34
Q

It is the advantage of advertising:
a. gains attentions and has instant effect
b. permits flexible presentation and gains immediate response
c. appropriate for reaching mass audience, allows direct appeal and control over the message
d. has a high degree of believability when done well.

A

c. appropriate for reaching mass audience, allows direct appeal and control over the message

35
Q

An industry’s trade association may organize fairs and
exhibitions which offer its members the opportunity to
communicate with a well defined target audience.
a. bonus purchases
b. trade shows and exhibitions
c. trade allowances
d. cooperative advertising/
promotions

A

b. trade shows and exhibitions

36
Q

The exogenous factor of the buyers behavior includes all except:
a. attitudes
b. culture
c. social status
d. reference groups

A

a. attitudes

37
Q

The endogenous factor of the buyers behavior includes all
except:
a. family
b. needs and motives
c. self-concept
d. personality

A

a. family

38
Q

A fertilizer manufacturer’s NPK production facility carries
fixed costs of $500,000. Assume that the variable cost of
production, per bag of NPK, is $10 and that the company is
considering selling to wholesalers at $20. The company needs to
sell how many units to break-even?
a. 5,000 units c. 50,000 units
b. 55,000 units d. 500,000 units

A

c. 50,000 units

39
Q

Reason why middlemen are commonly employed by
producers:
a. they provide wider market exposure
b. few producers have sufficient capital to market directly
c. producers can usually earn a higher return on investment
by employing available capital in activities other than
those of direct marketing
d. all of the above

A

d. all of the above

40
Q

Gap between producers and consumers are short, straight
transactions between the two groups can take place.
a. retail institutions
b. direct marketing systems
c. wholesalers
d. sales agents and brokers

A

b. direct marketing systems

41
Q

It makes the marketing systems more efficient by buying a
variety of products, in fairly large quantities, and selling these
items on to other businesses who require relatively small
quantities of a variety of goods.
a. retail institutions
b. wholesalers
c. direct marketing systems
d. sales agents and brokers

A

b. wholesalers

42
Q

Its function is to facilitate distribution by bringing buyers and
sellers together.
a. merchants
b. wholesalers
c. marketers
d. sales agents and brokers

A

d. sales agents and brokers

43
Q

Colombian flower producers grow long stemmed carnations
for the North American market and short stemmed carnations for
the European market. It is referred to as:
a. Market specialization
b. Selective specialization
c. product concentration
d. product specialization

A

b. Selective specialization

44
Q

An agricultural merchant may be offered 24 packs of
pesticide for the price of 20. This type of promotional activity is:
a. bonus purchases
b. cash incentives
c. trade allowances
d. cooperative advertising/promotions

A

a. bonus purchases

45
Q

Growers in Ivory Coast specializing in banana production
which is then exclusively sold into French wholesale markets.
It is referred to as:
a. Market specialization
b. Selective specialization
c. product concentration
d. product specialization

A

c. product concentration

46
Q

This includes a wide range of outlets such as merchants,
equipment dealers (in the case of farmers), department stores,
supermarkets and smaller grocery stores. They are
characterized by their dealing with the end user of the product
or service.
a. retail institutions
b. direct marketing systems
c. wholesalers
d. sales agents and brokers

A

a. retail institutions

47
Q

An agricultural merchant wishing to run a local campaign
may obtain assistance from one or other of his/her main
suppliers.
a. bonus purchases
b. trade shows and exhibitions
c. trade allowances
d. cooperative advertising/ promotions

A

d. cooperative advertising/ promotions

48
Q

These are incurred by farmers when they take their produce
to the market and by traders as they move the produce down the
marketing chain to the consumer.
a. transport costs
b. vehicle cost
c. cargo cost
d. truck cost

A

a. transport costs

49
Q

In China vegetable traders do not handle other products, not
even fruit. The reverse is also true: Chinese fruit traders do not
handle vegetables. It is referred to as:
a. Market specialization
b. Selective specialization
c. product concentration
d. product specialization

A

d. product specialization

Part 1 (11 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions