Monopolistic competition is a market situation in which
A) similar but not identical products are available.
B) only one product is available.
C) several identical products are available.
D) the same price is charged for all products.
E) the government regulates prices.
Question 2 - Marketing managers are better able to predict consumer responses to marketing strategies and to develop a satisfying marketing mix if they are aware of the factors that
A) are controllable marketing forces.
B) are uncontrollable marketing forces.
C) affect buying behavior.
D) are used to segment the market.
E) are involved in the handling of consumer complaints.
Question 3 - When the management of a large grocery store heard that Walmart might be coming to town, they developed alternative courses of action they could take if their competitive landscape changed. What type of plan did they develop?
A) Strategic
B) Objective
C) Contingency
D) Tactical
E) Operational
Question 4 - Debt capital is borrowed money that does not have to be repaid.
Indicate whether the statement is true or false
Question 5 - As the price of jeans rises, Levi Strauss is likely to
A) decrease production and thus decrease the supply.
B) increase production and thus increase the supply.
C) do nothing to influence the available supply of jeans.
D) discontinue producing jeans in favor of a different product.
E) increase production to influence the demand for jeans.
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