In a example discussed in your text Johnson & Johnson’s recall of their Tylenol product following the discovery that several bottles of Tyloenol had been laced with cyanide is consistent with which business philosophy ?

Related Mcqs:

1. 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

2. With whom would you associate the following quote” The business of business is business” ?

   A. Milton Friedman
   B. Adam smith
   C. Alfred Marshal
   D. Karl Marx

3. Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero marginal cost of study production. If ABC publishing engages in tying the two products its best strategy is to charge a combined price of ?

   A. Rs 60
   B. Rs 90
   C. Rs 85
   D. Rs 75

4. Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero-marginal cost of study production. If ABC publishing charges separate price for both products its best strategy is to charge price that when combined, total ?

   A. Rs 85
   B. Rs 75
   C. Rs 80
   D. Rs 60

5. 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

6. R&D and engineering first produce the product concept into a physical product during which of the following stages of the new product development process ?

   A. Concept development and testing
   B. Marketing strategy
   C. Business analysis
   D. Product development

7. Which of the following is consistent with the law of supply ?

   A. As the price of calculators rise, the quantity supplied of calculators decreases, ceteris paribus.
   B. As the price of calculators calls the supply of calculators increases, ceteris paribus.
   C. As the price of calculators rise, the quantity supplied of calculators increases, ceteris paribus.
   D. As the price of calculators rise, the supply of calculators increases ceteris paribus.

8. _______ is the concept under which a company carefully integrates and coordinates its may communications channels to deliver a clear consistent and compelling message about the organization and its products?

   A. The promotion mix
   B. Integrated international affairs
   C. Integrated marketing communications
   D. Integrated demand characteristics

9. Simon’s model is consistent with ?

   A. population self-sufficiency and constant economic growth
   B. low fertility and mortality
   C. a laissez-faire population policy
   D. a constant returns to scale production function

10. The classical view of the labor market is basically consistent with the assumption of _________ aggregate supply curve?

    A. a vertical (or almost vertical)
    B. a downward sloping
    C. a horizontal (or almost horizontal)
    D. an upward sloping