If Toyota describes one of its cars of the future as being a moderately priced subcompact designed as a second family car to be used arround town; the car is ideal for running errands and visiting friends, then the company has just stated a potential new product in terms of a(n) ?

Related Mcqs:

1. Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raises its price Rs40 per month the number of subscribers will fall to 20000 Using the midpoint method for calculating the elasticity what is the price elasticity of demand for cable TV in Small Town ?

   A. 1.4
   B. 0.66
   C. 0.75
   D. 2.0

2. Suppose that at a price of Rs 30 per month there are 30000 subscribers to cable television in small Town. If small Town Cablevision raise its price to Rs 40 per month the number of subscribers will fall to 20000 At which of the following price does small Town Cablevision earn the greatest total revenue ?

   A. Rs 0 per month
   B. Rs 30 per month
   C. Rs 40 per month
   D. Either Rs 30 or Rs 40 per month because the price elasticity of demand is 1.0

3. A company is in the ________ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product ?

   A. product development
   B. commercialization
   C. marketing strategy
   D. business analysis

4. If a consumer describes a car as being the most economical car on the market than this descriptor is a?

   A. rule
   B. attitude
   C. belief
   D. cute

5. In 1985, the Coca-cola Company made a classic marketing blunder with its deletion of its popular Coca-Cola product and introduction of what it called New Coke Analysts now believe that most of the company’s problems resulted from poor marketing research. As the public demanded their old Coke back the company relented and reintroduced Coca-Cola Classic (which has regained and surpassed its former position) while New Coke owns only 0.1 percent of the market Which of the following marketing research mistakes did Coca-Cola make ?

   A. They did not investigate pricing correctly and priced the product too high
   B. They did not investigate dealer reaction and had inadequate distribution
   C. They defined their marketing research problem too narrowly
   D. They failed to account for the Pepsi Challenge taste test in their marketing efforts

6. If your company were to make a product such as a suit of clothes and sold that product to a retailer your company would have sold to the __________ merket?

   A. reseller
   B. business
   C. government
   D. service

7. If a government uses barriers to foreign products such as biases against a foreign company’s bids or product standards that go against a foreign company’s product features the government is using ?

   A. Protectionism
   B. exchange controls
   C. exchange facilitators
   D. nontariff trade barriers

8. Jamil’s car is in need of repair, so John decides to sell it avoid the repair bill. Unaware of the problem, Shahab buys the car. This is an example of ?

   A. hidden actions
   B. adverse selection
   C. moral hazard
   D. adverse selection

9. Nicole wants to avoid buying a car that is a lemon. She takes a car she would like to buy to her mechanic before she purchases it. This is known as ?

   A. screening
   B. signaling
   C. moral hazard
   D. adverse selection

10. If the total product of two workers is 80 and the total product of 3 workers is 90 then the average product of the third worker is ________ and the marginal product of the third worker is _________?

    A. 160; 270
    B. 10; 30
    C. 10; 3.33
    D. 30; 10