Pest Quiz

20 Questions | Total Attempts: 3925

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Marketing Quizzes & Trivia

Questions and Answers
  • 1. 
    Used to describe a framework for the analysis of macroenvironmental factors:
    • A. 

      A. PEST Analysis

    • B. 

      B. SWOT Analysis

    • C. 

      C. Case Analysis

    • D. 

      Option 4

  • 2. 
        PEST stands for:
    • A. 

      A. Political, Economic, Social, Technological

    • B. 

      B. Political, Strength, Economic, Technological

    • C. 

      C. Political, Strength, Economic, Threat

    • D. 

      Option 4

  • 3. 
        The following are examples of Economic Factors except:
    • A. 

      A. Economic growth

    • B. 

      B. Interest rates

    • C. 

      C. Trade restrictions and tariffs

    • D. 

      Option 4

  • 4. 
    Which of the following is considered as a Social Factor?
    • A. 

      A. Career attitudes

    • B. 

      B. R&D activity

    • C. 

      C. Environmental regulations

    • D. 

      Option 4

  • 5. 
    These factors include demographic and cultural aspects of the external macroenvironment and affect customer needs and the size of potential markets.
    • A. 

      A. Economic Factors

    • B. 

      B. Political Factors

    • C. 

      C. Social Factors

    • D. 

      Option 4

  • 6. 
    1.       Which of the following is not considered as an internal strength of firms that succeed in cost leadership
    • A. 

      A. High level of expertise in manufacturing process engineering.

    • B. 

      B. Efficient distribution channels

    • C. 

      C. Access to leading scientific research

    • D. 

      Option 4

  • 7. 
    This type of strategy calls for the development of a product or service that offers unique attributes that are valued by customers:
    • A. 

      A. Cost leadership Strategy

    • B. 

      B. Differentiation Strategy

    • C. 

      C. Focus Strategy

    • D. 

      Option 4

  • 8. 
       This strategy concentrates on a narrow segment and within that segment attempts to achieve either a cost advantage or differentiation.
    • A. 

      A. Cost leadership Strategy

    • B. 

      B. Differentiation Strategy

    • C. 

      C. Focus Strategy

    • D. 

      Option 4

  • 9. 
    True or False: A smaller number of firms increase rivalry because fewer firms must compete for the same customers and resources.
    • A. 

      A. True

    • B. 

      B. False

    • C. 

      Option 3

    • D. 

      Option 4

  • 10. 
    This indicates the percent of market share held by the four largest firms
    • A. 

      A. Concentration Ratio

    • B. 

      B. Market Ratio

    • C. 

      C. Competition Ratio

    • D. 

      Option 4

  • 11. 
    A high concentration ratio indicates that a high concentration of market share is held by the largest firms. This means:
    • A. 

      A. The industry is concentrated

    • B. 

      B. The industry is characterized by many rivals

    • C. 

      C. The industry is close to a monopoly

    • D. 

      Option 4

  • 12. 
    True or False: Low switching costs increases rivalry. When a customer can freely switch from one product to another, there is a greater struggle to capture customers.
    • A. 

      A. True

    • B. 

      B. False

    • C. 

      Option 3

    • D. 

      Option 4

  • 13. 
       This term refers to a market in which there are many suppliers and one buyer.
    • A. 

      A. Monopoly

    • B. 

      B. Monopsony

    • C. 

      C. Monomarket

    • D. 

      Option 4

  • 14. 
      Barriers to entry arise from the following sources except:
    • A. 

      A. Government

    • B. 

      B. Patents and Propriety knowledge

    • C. 

      C. Asset specificity

    • D. 

      D. None of the above

  • 15. 
    1.       It’s NOT easy to enter an industry if there is:
    • A. 

      A. Patented of propriety know-how

    • B. 

      B. Difficulty in brand switching

    • C. 

      C. Restricted distribution channels

    • D. 

      D. All of the above

  • 16. 
     An industry is difficult to enter if there is:
    • A. 

      A. Patented of propriety know-how

    • B. 

      B. Difficulty in brand switching

    • C. 

      C. Restricted distribution channels

    • D. 

      D. All of the above

  • 17. 
    According to Schumpeter and Porter, dynamism of markets is driven by:
    • A. 

      A. Price

    • B. 

      B. Innovation

    • C. 

      C. Technology

    • D. 

      Option 4

  • 18. 
    1.       It’s the primary context of industry rivalry.
    • A. 

      A. Business unit level

    • B. 

      B. Market level

    • C. 

      C. Competitor’s level

    • D. 

      Option 4

  • 19. 
        This statement describes the company’s business vision, including the unchanging values and purpose of the firm and forward-looking visionary goals that guide the pursuit of future opportunities.
    • A. 

      A. Mission statement

    • B. 

      B. Vision statement

    • C. 

      C. Objective statement

    • D. 

      Option 4

  • 20. 
    This is related to the firm’s business position, and may include measures such as market share and reputation.
    • A. 

      A. Financial objective

    • B. 

      B. Strategic objective

    • C. 

      C. Business objective

    • D. 

      Option 4

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