MGT301 - Principles of Marketing Solved Quizzes File No 1

Question No: 1 ( Marks: 1 ) - Please choose one

Which one of the following phrases reflects the marketing concept?

► The supplier is a king in the market

► Marketing should be viewed as hunting not gardening

► This is what I make, won't you please buy it?

► This is what I want, won't you please make it?

Question No: 2 ( Marks: 1 ) - Please choose one

If a local company wants to adopt the marketing concept. To be consistent with this move, it should adopt which of the following philosophies?

► Focusing on today is important for us

► Making money is our business

► The customer is always right

► Keeping prices low is our objective

Question # 1 of 10 ( Start time: 05:11:37 PM ) Total Marks: 1
Which one of the following set is considered as a fit-match of firm?
Select correct option:

Opportunities – strength (Correct)
Opportunities – weaknesses
Opportunities – customer demand
Customer value – weakness

Question # 2 of 10 ( Start time: 05:13:08 PM ) Total Marks: 1
People often buy the kind of clothing. What does it show?
Select correct option:

Attitude
Status (Correct)
Learning
Lifestyle

Question # 3 of 10 ( Start time: 05:14:22 PM ) Total Marks: 1
Drawing conclusion from research after analysis of collected data called:
Select correct option:

Gathering
Collection
Interpretation (Correct)

Survey

Question No: 3 ( Marks: 1 ) - Please choose one

Which one of the following options is best to explain the purpose of intranets?

► Buying and selling processes

► Business-to-business purchasing

► Communication among employees

► Maintaining customer relations

Question No: 4 ( Marks: 1 ) - Please choose one

All of the following are accurate descriptions of a company's mission statement, EXCEPT which one?

► Mission statement should fit the market environment

► Mission statement should be realistic

► Mission statement should be broad

► Mission statement should be motivating

Question No: 5 ( Marks: 1 ) - Please choose one

Which of the following sets refers to the order or sequence of marketing management functions?

► Control - implementation - market planning

► Market planning - control - implementation

► Implementation - control - market planning

► Marketing planning - implementation - control

Question No: 6 ( Marks: 1 ) - Please choose one

Advertising agencies are an example of which of the following marketing intermediaries?

► Insurance company

► Financial intermediary

► Marketing services agency

       ► Physical distribution firm

Question # 4 of 10 ( Start time: 05:15:00 PM ) Total Marks: 1
In the Boston Consulting Group approach, which one of the following is a measure of company strength in the market?
Select correct option:

Relative market share (Correct)
BCG matrix
Business portfolio
Market growth rate

Question # 5 of 10 ( Start time: 05:16:18 PM ) Total Marks: 1
Niche marketing is opposite to which one of the following concepts?
Select correct option:

New Marketing exploration (Correct)
Knowledge management
Mass marketing
Market intelligence

Question # 6 of 10 ( Start time: 05:17:46 PM ) Total Marks: 1
Which of the following is NOT a part of the macro-environment?
Select correct option:

Demographic forces
Natural forces
Competitors' forces (Correct)

Political forces

Question No: 7 ( Marks: 1 ) - Please choose one

"How people feel about corporations, government agencies, trade unions and universities" refers to which of the following views?

► People's view of others

► People's view of societies

► People's view of themselves

       ► People's view of organizations

Question # 7 of 10 ( Start time: 05:18:47 PM ) Total Marks: 1
In which of the following stage marketer provides quality product and services without variation in quality?
Select correct option:

Storing
Selling
Standardizing and grading (Correct) Risk Taking

Question # 8 of 10 ( Start time: 05:20:07 PM ) Total Marks: 1
Mr. Ahmad thinks that Nirala sweets is offering competitive products and also delivers its sweets through online orders. This thinking of Mr. Ahmad represents which concept of marketing?
Select correct option:

Positioning of Nirala Sweets (Correct)
Product variety of Nirala Sweets
Technical expertise of Nirala Sweets

Marketing of Nirala Sweets

Question No: 8 ( Marks: 1 ) - Please choose one

Which one of the following is NOT a part of the macro-environment?

► Demographic forces

► Natural forces

► Competitors' forces

       ► Political forces

Question # 9 of 10 ( Start time: 05:21:37 PM ) Total Marks: 1
Public that influence the company’s ability to obtain funds reflects which of the following publics?
Select correct option:

Financial publics (Correct)
Media publics
Government publics
Citizen-action publics

1. The marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others is referred to as
Answer: business marketing.

2. Organizational buyers include manufacturers, wholesalers, retailers, and government agencies
Answer: That buy goods and services for their own use or resale

3. Which of the following statements represents an organizational buying decision?
Answer: The owner of a fried chicken restaurant hires a snow removal service to keep the parking lot clear.

4. Organizational buyers can be divided into three different markets. They are
Answer: industrial, reseller, and government markets.

Question # 10 of 10 ( Start time: 05:23:07 PM ) Total Marks: 1
The group lies in the shadow of the boomers and lack obvious characteristics reflect which of the following options?
Select correct option:

Baby boomer
Generation-X (Correct)
Generation-Y

Echo boomer

5. The services market sells diverse services such as legal advice, auto repair, and dry cleaning. Along with finance, insurance, real estate businesses, and __________, communication and public utility firms, as well as not-for-profit organizations, these firms represent about 75 percent of all industrial firms.
Answer: transportation

6. Archer Daniels Midland (ADM) Co. is the world's largest cocoa-bean processor. It buys cocoa beans and converts the beans into cocoa powder and cocoa butter, which it sells to companies that manufacture consumer products that contain chocolate. The cocoa-bean processor is operating in a(n) __________ market.
Answer: industrial

7. Wholesalers and retailers that buy physical product and resell them without any reprocessing are
Answer: reseller firms

8. The reseller market includes
Answer: retailers and wholesalers.

9. In terms of organizational buyers, Amazon.com, Lands' End, and JCPenney would all be classified as __________.
Answer: resellers.

Question No: 9 ( Marks: 1 ) - Please choose one

Marketing information from which of the following databases can be accessed more quickly and cheaply?

► External

► Internal & External

► Internal

► Representatives

Question No: 10 ( Marks: 1 ) - Please choose one

Gathering secondary information is one of the steps of developing the research plan. What does the meaning of secondary information in marketing research?

► That does not currently exist in an organized form

► That already exists somewhere, having been collected for another purpose

► That the researcher can obtain through surveys and observation

► That already exists somewhere in an organized form

Question No: 11 ( Marks: 1 ) - Please choose one

Survey research, called the backbone of primary research, is the most widely used method for primary data collection and is best suited for gathering which of the following information?

► Personal

► Attitude

► Descriptive

► Exploratory

Question No: 12 ( Marks: 1 ) - Please choose one

If ABC Ltd knows that its market share in Pakistan has dropped 13 percent in the first quarter of the year but does not know what might have contributed to this decline, it is in which stage of the marketing research process?

► Hypothesis development

► Symptom identification

► Problem identification

► Data interpretation

10. When Louisiana State University buys new laptops for its faculty it is operating as a(n)
Answer: government unit.

11. The system that provides common industry definitions for Canada, Mexico, and the United States, which make easier the measurement of economic activity in the three member countries of the North American Free Trade Agreement (NAFTA) is called:
Answer: the North American Industry Classification System (NAICS).

12. the North American Industry Classification System (NAICS).
Answer: The system that provides common industry definitions between Canada the United States, which makes it easier to measure economic activity and releases barriers of trade for manufacturing and distribution for cross-border firms. The system that provides common industry definitions for Canada, Mexico, and the United States, which makes it easier to measure economic activity in the three member countries of the North American Free Trade Agreement (NAFTA).

13. Derived demand refers to
Answer: the demand for industrial products and services that is driven by demand for consumer products and services.

14. Spruceland Millworks in Canada makes wooden pallets for transporting and storing new appliances such as stoves, freezers, and refrigerators. The demand for Spruceland pallets would be classified as.
Answer: derived demand, which is tied to the sales of pallets, which in turn, is tied to the sales of appliances

15. Purchas

Question No: 13 ( Marks: 1 ) - Please choose one

Which one of the following factor is NOT used for measuring the social class?

► Income

► Number of children in family

► Occupation

► Education

Question No: 14 ( Marks: 1 ) - Please choose one

Which one of the following three-step process represents “Perception”?

► Motivation, personality and attitudes

► Collecting, eliminating and organizing information inputs

► Receiving, organizing and interpreting information inputs

► Anticipating, classifying and discarding information inputs

Question No: 15 ( Marks: 1 ) - Please choose one

Person's pattern of living as expressed in his or her psychographics represents which one of the following concept?

► Personality

► Culture

► Lifestyle

► Motive

es of sodium fluoride by Procter & Gamble for use in the manufacture of Crest toothpaste would be an example of __________ demand.

Answer: derived

16. Which of the following statements about organizational buying compared to consumer buying is most accurate?
Answer: Brand loyalty exists in both organizational and consumer buying.

17. Important product or service characteristics in organizational buying behavior include: products or services of a technical nature, purchased on the basis of specifications; a large portion of goods are purchased in a raw or semi-finished state, and
Answer: a heavy emphasis placed on delivery time, technical assistance, and postsal service.

18. Which of the following statements accurately characterizes buying behavior in organizational markets?
Answer: Fewer customers typically exist in organizational markets than in consumer markets.

19. The primary organizational buying objective is to
Answer: help the firm achieve its objectives.

Question No: 16 ( Marks: 1 ) - Please choose one

Which one of the following option represents the collection of data for the purpose of applying appropriate actions at a subsequent time?

► Lifestyle

► Learning

► Perception

► Attitude

Question No: 17 ( Marks: 1 ) - Please choose one

Which one of the following is NOT the stage that customers go through in the process of adopting a new product?

► Awareness

► Interest

► Evaluation

► Culture

Question No: 18 ( Marks: 1 ) - Please choose one

After deciding to order replacement parts for ageing machinery, the buyer for a construction company examines catalogues and trade publications. The buyer is probably at which stage of the organizational buying decision process?

► Problem recognition

► Product specification

► Product-supplier search

► Product evaluation

1. Despite the data glut that marketing managers receive, they frequently complain that they lack _____.

a. enough information of the right kind

b. quality information

c. timely information

d. accurate and reliable information

e. valid information

(Answer: a; p. 97; Easy)

2. An MIS consists of people, equipment, and procedures to gather, sort, _____, evaluate, and distribute information to marketing decision makers.

a. test

b. test market

c. analyze

d. critique

e. assess

(Answer: c; p. 97; Easy)

3. Your firm has just developed its first successful MIS. It interacts with information users to assess information needs, develop needed information, _____ the marketing information, and help managers use it in their decision making.

a. distribute

b. collect

c. retrieve

d. store

e. validate

(Answer: a; p. 97; Challenging)

4. The marketing information system is not limited to use by the company it serves. It may also provide information to _____.

a. the government

b. external partners

c. various publics

d. competitors

e. none of the above

(Answer: b; p. 97; Moderate)

Question No: 19 ( Marks: 1 ) - Please choose one

Demographic segmentation divides the market into groups based on which of the following variables?

► Size, location, industry, customer

► Size, company, industry, technology

► Location, size, occupation, race

► Customer, technology, company, industry

Question No: 20 ( Marks: 1 ) - Please choose one

Which of the following factors are often used for segmenting customer groups?

► Geographic factors

► Psychographic factors

► Behavioral factors

► Demographic factors

Question No: 21 ( Marks: 1 ) - Please choose one

A marketer has brought same products in the market for all segments without considering the needs and wants of the customers. Which one of the following strategy is being practiced by the marketer?

► Undifferentiated marketing strategy

► Differentiated marketing strategy

► Concentrated marketing strategy

► Custom marketing strategy

Question No: 22 ( Marks: 1 ) - Please choose one

Buyer- seller similarities is an attribute comes under which one of the following concepts?

► Demographic factors

► Personal characteristics

► Situational factors

► Operating variables

5. Marketers must weigh carefully the costs of additional information against the _____ resulting from it.

a. uses

b. benefits

c. knowledge

d. rewards

e. cost

(Answer: b; p. 98; Easy)

6. Four common sources of internal data include the accounting department, operations, the sales force, and the _____.

a. owners

b. stockholders

c. marketing department

d. custodians

e. quality control department

(Answer: c; p. 99; Moderate)

7. Marketing information from this type of database usually can be accessed more quickly and cheaply than other information sources. Which one is it?

a. External.

b. MDSS.

c. EIS.

d. Internal.

e. Field representatives.

(Answer: d; p. 99; Easy)

8. This systematic collection and analysis of publicly available information about competitors and developments in the marketing environment is very useful. What is it called?

a. Marketing data.

b. Marketing intelligence.

c. Web Master.

d. Sales and sales management.

e. Secondary data.

(Answer: b; p. 99; Moderate)

9. Which of the following was not mentioned in your textbook as a source of marketing intelligence?

a. Suppliers.

b. Resellers.

c. Key customers.

d. Your company reports.

e. Sales force.

(Answer: d; p. 101; Easy)

10. Which of the following was not mentioned in your textbook as a source of marketing intelligence?

a. Competitors’ garbage.

b. Buying competitors’ products.

c. Monitoring competitors’ sales.

d. Checking for new goodwill.

e. Purchasing agents.

(Answer: d; p. 101; Moderate)

Question No: 23 ( Marks: 1 ) - Please choose one

Which of the following are those products purchased for further processing or for use in conducting a business?

► Unsought products

► Specialty products

► Shopping products

► Industrial products

Question No: 24 ( Marks: 1 ) - Please choose one

Which one of the following categories refers to a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges?

► Product line

► Line extension

► Private brand

► Product bandwidth

Question No: 25 ( Marks: 1 ) - Please choose one

After concept testing, a firm would engage in which stage for developing and marketing a new product?

► Marketing strategy development

► Business analysis

► Product development

► Test marketing

Question No: 26 ( Marks: 1 ) - Please choose one

A review of the sales, costs and profit projections for a new product to find out whether they satisfy the company's objectives refers to which one of the following concepts?

► Business feasibility

► Feasibility study

► Business analysis

► Product acceptance

Question No: 27 ( Marks: 1 ) - Please choose one

In which of the following product life cycle stages, sales are zero and the company's investment costs mount?

► Product development

► Introduction

► Growth

► Maturity

Question No: 28 ( Marks: 1 ) - Please choose one

In which one of the following stages of the product life cycle sales fall off and profits stop?

► Growth

► Introduction

► Decline

► Maturity

11. Your competitor may reveal intelligence information through which of these sources of information?

a. Annual reports.

b. Trade show exhibits.

c. Web pages.

d. Press releases.

e. All of the above.

(Answer: e; p. 101; Easy)

12. In today’s information age, companies are leaving a paper trail of information _____.

a. in the wastebasket

b. online

c. in annual reports

d. with government agencies

e. that is inaccessible

(Answer: b; p. 101; Moderate)

13. To combat marketing intelligence by competitors, Unilever Corporation is now providing _____ to employees.

a. intelligence training

b. privacy blocks

c. protection

d. less information

e. none of the above

(Answer: a; p. 102; Moderate)

14. Which of the steps in the marketing research process has been left out: defining the problems and research objectives, implementing the research plan, and interpreting and reporting the findings?

a. Developing the research budget.

b. Choosing the research agency.

c. Choosing the research method.

d. Developing the research plan.

e. Comparing and contrasting primary and secondary data.

(Answer: d; p. 102; Moderate)

15. Your colleague is confused about using the marketing research process. He seems to be having problems with _____, which is often the hardest step to take.

a. defining the problem

b. defining the research objectives

c. defining the problem and research objectives

d. researching a research agency to help

e. C and D

Question No: 29 ( Marks: 1 ) - Please choose one

McDonald's run advertisement featuring children, senior citizens and minority groups. What does this ad show?

► Company is product oriented

► Company considers only environmental factors

► Company has several target markets

► Company is market oriented

Question No: 30 ( Marks: 1 ) - Please choose one

When a customer pays Rs.1000 and receives a television set in return. What does this example show?

► Exchange

► Transaction

► Market

► Segment

Question No: 31 ( Marks: 1 ) - Please choose one

In a company division, a product line within a division, or sometimes a single product or brand reflects which one of the following options?

► Market

► BCG

► SBU

► Initiator

Question No: 32 ( Marks: 1 ) - Please choose one

“Planning that involves developing a strategy to meet competition and ensure long-term survival and growth” represents which one of the following planning types?

► Long-range planning

► Short-range planning

► Annual planning

► Strategic planning

Question No: 33 ( Marks: 1 ) - Please choose one

Which one of the following is a chief goal of the implementation function in marketing process?

► Develops marketing plans

► Turns plans into actions

► Takes corrective actions

► Develops strategic plans

Question No: 34 ( Marks: 1 ) - Please choose one

"Consumers are spending more on products and services that will improve their lives rather than their image” reflects which aspect of the cultural environment?

► People's view of others

► People's view of themselves

► People's view of organizations

► People's view of nature

Question No: 35 ( Marks: 1 ) - Please choose one

Suppose marketers at Lever Brothers are trying to determine whether the use of coupons for detergent was the reason for a sales increase in a particular store. What type of study conducted to answer this question?

► Exploratory

► Descriptive

► Causal

► Qualitative

Question No: 36 ( Marks: 1 ) - Please choose one

ABC Company wants to learn about consumer attitudes toward mail order purchases and conducts a study to acquire this information. Which one of the following data would BEST be classified for this study?

► Causal

► Experimental

► Primary

► Secondary

Question No: 37 ( Marks: 1 ) - Please choose one

Which one of the following is NOT considered as competitive differentiation of a company?

► Product

► Service

► Image

► Sales

Question No: 38 ( Marks: 1 ) - Please choose one

Which one of the following characteristics is NOT a requirement for effective segmentation?

► Differential

► Achievable

► Accessible

► Measurable

Question No: 39 ( Marks: 1 ) - Please choose one

Which one of the following product requires a lot of advertising, personal selling and other marketing efforts because consumer either does not know about it or knows about it but does not normally think about buying?

► Specialty products

► Shopping products

► Industrial products

► Unsought products

Question No: 40 ( Marks: 1 ) - Please choose one

Business markets can be segmented on the basis of all of the following variables EXCEPT:

► Personal characteristics

► Operating variables

► Selling approaches

► Situational factors

Question No: 41 ( Marks: 10 )

Being a marketing manager in a store you have been assigned a task to find out the reasons that why the sales volume is decreasing day by day. How would you apply the concept of Marketing Information System (MIS) in this store and how it will work?

MGT301- Principles of Marketing (Session - 3)

Question No: 1 ( Marks: 1 ) - Please choose one

Which one of the following phrases reflects the marketing concept?

► The supplier is a king in the market

► Marketing should be viewed as hunting not gardening

► This is what I make, won't you please buy it?

► This is what I want, won't you please make it?

Question No: 2 ( Marks: 1 ) - Please choose one

If a local company wants to adopt the marketing concept. To be consistent with this move, it should adopt which of the following philosophies?

► Focusing on today is important for us

► Making money is our business

► The customer is always right

► Keeping prices low is our objective

Question No: 3 ( Marks: 1 ) - Please choose one

Which one of the following options is best to explain the purpose of intranets?

► Buying and selling processes

► Business-to-business purchasing

► Communication among employees

► Maintaining customer relations

Question No: 4( M - 1 ).

The concept of market _____________ arranges for a product to occupy a clear, distinctive, and desirable place relative to competition.

Positioning

Place

Price

Product

Question No: 5( M - 1 ).

Which one of the following authorities might use several tools like news, speeches and special events for the marketing purpose?

Advertising agencies

Advertising specialists

Public relation professionals

Computer programmers

Question No: 6( M - 1 ).

Lobbying or building and maintaining relations with legislators and government officials to influence legislation and regulation are part of which one of the following options?

Business ethics

Press relations

Press agencies

Public relations

Question No: 4 ( Marks: 1 ) - Please choose one

All of the following are accurate descriptions of a company's mission statement, EXCEPT which one?

► Mission statement should fit the market environment

► Mission statement should be realistic

► Mission statement should be broad

► Mission statement should be motivating

Question No: 5 ( Marks: 1 ) - Please choose one

Which of the following sets refers to the order or sequence of marketing management functions?

► Control - implementation - market planning

► Market planning - control - implementation

► Implementation - control - market planning

► Marketing planning - implementation - control

Question No: 6 ( Marks: 1 ) - Please choose one

Advertising agencies are an example of which of the following marketing intermediaries?

► Insurance company

► Financial intermediary

► Marketing services agency

► Physical distribution firm

Question No: 7 ( Marks: 1 ) - Please choose one

"How people feel about corporations, government agencies, trade unions and universities" refers to which of the following views?

► People's view of others

► People's view of societies

► People's view of themselves

► People's view of organizations

Question No: 7( M - 1 ).

The standards set for salespeople, stating the quantity they should sell and how sales should be divided among the company’s products refers to which one of the following options?

Sales goals

Company quotas

Sales quotas

Sales incentives

Question No: 8( M - 1 ).

A growing trend for many companies is to use a group of people from sales, marketing, engineering, finance, technical support and even upper management to service large, complex accounts. It refers to which one of the following approaches?

Department selling

Multiple selling

Team selling

Simultaneous selling

Question No: 9( M - 1 ).

To reduce time demands on their outside sales forces, many companies have increased the size of their inside sales forces, which include technical support people and sales assistants. Which one of the following can also be another part of the sales force?

Order takers

Order getters

Telemarketers

Secretaries

Question No: 8 ( Marks: 1 ) - Please choose one

Which one of the following is NOT a part of the macro-environment?

► Demographic forces

► Natural forces

► Competitors' forces

► Political forces

Question No: 9 ( Marks: 1 ) - Please choose one

Marketing information from which of the following databases can be accessed more quickly and cheaply?

► External

► Internal & External

► Internal

► Representatives

Question No: 10 ( Marks: 1 ) - Please choose one

Gathering secondary information is one of the steps of developing the research plan. What does the meaning of secondary information in marketing research?

► That does not currently exist in an organized form

► That already exists somewhere, having been collected for another purpose

► That the researcher can obtain through surveys and observation

► That already exists somewhere in an organized form

Question No: 11 ( Marks: 1 ) - Please choose one

Survey research, called the backbone of primary research, is the most widely used method for primary data collection and is best suited for gathering which of the following information?

► Personal

► Attitude

► Descriptive

► Exploratory

Question No: 12 ( Marks: 1 ) - Please choose one

► Hypothesis development

► Symptom identification

► Problem identification

► Data interpretation

Question No: 10( M - 1 ).

When a firm sets out to analyze, plan, implement, and control sales force activities through sales force management. What does it set and design?

Team selling efforts

Promotional objectives

Sales territories

Sales force strategies

Question No: 11( M - 1 ).

The principles of personal selling described as which one of the following orientation?

Service orientation

Customer orientation

Transaction orientation

Relationship orientation

Question No: 12( M - 1 ).

Which of the following communication and promotion tools involve direct connections with customers aimed toward building customer-unique value and lasting relationships?

Personal selling and direct marketing

Public relation and publicity

E-commerce and e-business

Advertising and sales promotion

Question No: 13( M - 1 ).

The various stages of the personal selling process are illustrated below, which one of the following is NOT specific roles of the sales representative?

Negotiating and closing the sale

Sales presentation

Prospecting

Devising product strategy

Question No: 13 ( Marks: 1 ) - Please choose one

Which one of the following factor is NOT used for measuring the social class?

► Income

► Number of children in family

► Occupation

► Education

Question No: 14 ( Marks: 1 ) - Please choose one

Which one of the following three-step process represents “Perception”?

► Motivation, personality and attitudes

► Collecting, eliminating and organizing information inputs

► Receiving, organizing and interpreting information inputs

► Anticipating, classifying and discarding information inputs

Question No: 15 ( Marks: 1 ) - Please choose one

Person's pattern of living as expressed in his or her psychographics represents which one of the following concept?

► Personality

► Culture

► Lifestyle

► Motive

Question No: 16 ( Marks: 1 ) - Please choose one

Which one of the following option represents the collection of data for the purpose of applying appropriate actions at a subsequent time?

► Lifestyle

► Learning

► Perception

► Attitude

Question No: 17 ( Marks: 1 ) - Please choose one

Which one of the following is NOT the stage that customers go through in the process of adopting a new product?

► Awareness

► Interest

► Evaluation

► Culture

Question No: 14( M - 1 ).

Fraudulent usage, inability to attract potentially brand-loyal customers and use by current customers but not new customers are believed to be disadvantages of which of the following?

Money refunds

Frequent-user incentives

Coupons

Premiums

Question No: 15( M - 1 ).

Expensive Coca-Cola television ads primarily are a type of which of the following advertising?

Informative advertising

Comparative advertising

Persuasive advertising

Reminder advertising

Question No: 16( M - 1 ).

In which of the following advertising a company directly or indirectly compares its brand with one or more other brands?

Informative advertising

Institutional advertising

Reminder advertising

Comparative advertising

Question No: 17( M - 1 ).

Communication through a news story regarding an organization or its products that is transmitted through a mass medium at no charge, refers to which one of the following promotion mix?

Advertising

Sales promotion

Personal selling

Public relations

Question No: 18( M - 1 ).

Slow feedback, high costs and difficulty in measuring effects on sales are disadvantages of which one of the following promotion mix ingredient?

Public relations

Sales promotion

Personal selling

Advertising

(Answer: c; p. 102; Moderate)

16. The objective of _____ research is to gather preliminary information that will help define the problem and suggest hypotheses.

a. descriptive

b. exploratory

c. causal

d. corrective

e. descriptive and exploratory

(Answer: b; p. 103; Easy)

17. It is important to note that research objectives must be translated into specific _____.

a. marketing goals

b. information needs

c. dollar amounts

d. results that justify the means

e. time allotments

(Answer: b; p. 103; Easy)

18. The research plan outlines sources of existing data and spells out the specific research approaches, contact methods, _____, and instruments that researchers will use to gather new data.

a. personnel

b. sampling plans

c. budget requirements

d. all of the above

e. none of the above

(Answer: b; p. 103; Moderate)

19. The way to begin marketing research is to gather secondary data, which consists of information _____.

a. that already exists somewhere

b. that does not currently exist in an organized form

c. that already exists somewhere, having been collected for another purpose

d. used by competition

e. that the researcher can obtain through surveys and observation

(Answer: c; p. 103; Easy)

Question No: 1( M - 1 ).

Which one of the following is termed as embargo?

Budget reforms

Heavy taxes

Strongest form of quota

Heavy trade deficit

Question No: 2( M - 1 ).

Which one of the following is designated as a runner-up firm that chooses not to rock the boat (usually out of fear that it stands to lose more than it might gain)?

Market leader

Market challenger

Market follower

Market niche

Question No: 3( M - 1 ).

Review of the sales, costs and profit projections for a new product to find out whether these factors satisfy the company’s objectives comes under which one of the following concepts?

Business Analysis

Product Development

Test Marketing

Commercialization

20. How would you describe the primary data being used by your firm?

a. Collected for the specific purpose at hand.

b. Original information.

c. First-time information.

d. Fresh and perhaps more reliable than secondary data.

e. All of the above.

(Answer: e; p. 105; Easy)

21. Which form of data can usually be obtained more quickly and at a lower cost?

a. Primary.

b. Census.

c. Secondary.

d. Syndicated.

e. Tertiary.

(Answer: c; p. 105; Moderate)

22. Your assistant wants to use secondary data exclusively for the current research project. You advise him that the use of secondary data has some potential problems. Which of the following is not one of them?

a. It may not exist.

b. All of the needed data is rarely available.

c. It may not be useable.

d. It is generally more expensive when purchased from the government.

e. You do not know why it was originally collected.

(Answer: d; p. 105; Challenging)

Question No: 18 ( Marks: 1 ) - Please choose one

► Problem recognition

► Product specification

► Product-supplier search

► Product evaluation

Question No: 19 ( Marks: 1 ) - Please choose one

Demographic segmentation divides the market into groups based on which of the following variables?

► Size, location, industry, customer

► Size, company, industry, technology

► Location, size, occupation, race

► Customer, technology, company, industry

Question No: 20 ( Marks: 1 ) - Please choose one

Which of the following factors are often used for segmenting customer groups?

► Geographic factors

► Psychographic factors

► Behavioral factors

► Demographic factors

Question No: 21 ( Marks: 1 ) - Please choose one

A marketer has brought same products in the market for all segments without considering the needs and wants of the customers. Which one of the following strategy is being practiced by the marketer?

► Undifferentiated marketing strategy

► Differentiated marketing strategy

► Concentrated marketing strategy

► Custom marketing strategy

Question No: 22 ( Marks: 1 ) - Please choose one

Buyer- seller similarities is an attribute comes under which one of the following concepts?

► Demographic factors

► Personal characteristics

► Situational factors

► Operating variables

Question No: 23 ( Marks: 1 ) - Please choose one

Which of the following are those products purchased for further processing or for use in conducting a business?

► Unsought products

► Specialty products

► Shopping products

► Industrial products

Question No: 24 ( Marks: 1 ) - Please choose one

► Product line

► Line extension

► Private brand

► Product bandwidth

Question No: 25 ( Marks: 1 ) - Please choose one

After concept testing, a firm would engage in which stage for developing and marketing a new product?

► Marketing strategy development

► Business analysis

► Product development

► Test marketing

Question No: 26 ( Marks: 1 ) - Please choose one

A review of the sales, costs and profit projections for a new product to find out whether they satisfy the company's objectives refers to which one of the following concepts?

► Business feasibility

► Feasibility study

► Business analysis

► Product acceptance

Question No: 27 ( Marks: 1 ) - Please choose one

In which of the following product life cycle stages, sales are zero and the company's investment costs mount?

► Product development

► Introduction

► Growth

► Maturity

Question No: 28 ( Marks: 1 ) - Please choose one

In which one of the following stages of the product life cycle sales fall off and profits stop?

► Growth

► Introduction

► Decline

► Maturity

Question No: 29 ( Marks: 1 ) - Please choose one

McDonald's run advertisement featuring children, senior citizens and minority groups. What does this ad show?

► Company is product oriented

► Company considers only environmental factors

► Company has several target markets

► Company is market oriented

Question No: 30 ( Marks: 1 ) - Please choose one

When a customer pays Rs.1000 and receives a television set in return. What does this example show?

► Exchange

► Transaction

► Market

► Segment

Maslow has a list of human needs from the most pressing to the least pressing. They include all of the following EXCEPT:

Physiological need

Safely need

Need recognition

Self- Actualization

Which of the following may be ignored while making channel distribution decisions?

Analyzing Consumer Service Needs

Setting Channel Objectives and Constraints

Identifying Major Alternatives

None of the above

Which of the following is NOT an external factor while setting the price of a new product?

Nature of Market and Demand

Competitor’s Strategies and prices

Environmental factors

None of the above

A transaction in which the organization is making an initial purchase of an item to be used to perform a new job refers to which of the following

purchases?

Straight rebuy purchase

Delayed purchase

New-task purchase

Modified rebuy purchase

A network of networks that consists of millions of smaller domestic, academic, business, and government networks, which together carry various information and services. Which one of the following networks represents it?

LAN

Intranets

Extranet

Internet

Identify the name of a vast public web of computer networks that connect users of all types all around the world to each other?

Intranets

Extranets

Internet

Bytes

When Kodak sets the price range of its cameras as low priced and its related film as high priced, it is practicing which one of the following pricing decision?

Market-penetration pricingMarket-skimming pricingProduct line pricingCaptive-product pricing Which one of the following scheme is TRUE regarding marketing research?

Gathering data, analysis, interpretation Analysis, gathering data, interpretationInterpretation, gathering data, analysisInterpretation, reporting, analysis

A penetration-pricing policy is particularly appropriate when demand is:

IncreasingHighly elastic Highly inelasticDecreasing

The first step in the marketing control process is BEST described as one where the marketer performs which of the following activities?

Evaluates performance

Measures performance

Sets specific goals

Takes corrective action

Which of the following may be ignored while making channel distribution decisions? Analyzing Consumer Service Needs

Setting Channel Objectives and Constraints

Identifying Major Alternatives

None of the above

Which of the following is NOT an external factor while setting the price of a new product?

Nature of Market and Demand

Competitor’s Strategies and prices

Environmental factors

None of the above

A transaction in which the organization is making an initial purchase of an item to be used to perform a new job refers to which of the following purchases?

Straight rebuy purchase

Delayed purchase

New-task purchase

Modified rebuy purchase

Quiz Start Time: 08:45 PM
Time Left 87
sec(s)
Question # 2 of 10 ( Start time: 08:47:01 PM ) Total Marks: 1
Relationship marketing is an integral part of which type of marketing philosophy?
Select correct option:
Customer and marketing philosophy
Product philosophy
Production philosophy
Selling philosophy

Quiz Start Time: 08:45 PM
Time Left 88
sec(s)
Question # 3 of 10 ( Start time: 08:48:08 PM ) Total Marks: 1
An arrangement in which a supplier grants a dealer the right to sell products in exchange for some type of consideration is:
Select correct option:
Wholesaling
Retailing
Franchising
Warehousing

Following are the pricing adjustment strategies EXCEPT one?
Select correct option:
Geographical pricing
International pricing
Segmented pricing
Sociological pricing

The mental act, condition or habit of placing trust or confidence in another shows which of the following option?
Select correct option:
Motive
Belief
Behavior
Attitude

A network of networks that consists of millions of smaller domestic, academic, business, and government networks, which together carry various information and services. which one of the following networks represents it?

LAN

Intranets

Extranet

Internet

Identify the name of a vast public web of computer networks that connect users of all types all around the world to each other?

Intranets

Extranets

Internet

Bytes

Question No: 31 ( Marks: 1 ) - Please choose one

In a company division, a product line within a division, or sometimes a single product or brand reflects which one of the following options?

► Market

► BCG

► SBU

► Initiator

Question No: 32 ( Marks: 1 ) - Please choose one

“Planning that involves developing a strategy to meet competition and ensure long-term survival and growth” represents which one of the following planning types?

► Long-range planning

► Short-range planning

► Annual planning

► Strategic planning

Question No: 33 ( Marks: 1 ) - Please choose one

Which one of the following is a chief goal of the implementation function in marketing process?

► Develops marketing plans

► Turns plans into actions

► Takes corrective actions

► Develops strategic plans

Question No: 34 ( Marks: 1 ) - Please choose one

"Consumers are spending more on products and services that will improve their lives rather than their image” reflects which aspect of the cultural environment?

► People's view of others

► People's view of themselves

► People's view of organizations

► People's view of nature

Question No: 35 ( Marks: 1 ) - Please choose one

► Exploratory

► Descriptive

► Causal

► Qualitative

Question No: 36 ( Marks: 1 ) - Please choose one

► Causal

► Experimental

► Primary

► Secondary

Question No: 37 ( Marks: 1 ) - Please choose one

Which one of the following is NOT considered as competitive differentiation of a company?

► Product

► Service

► Image

► Sales

Question No: 38 ( Marks: 1 ) - Please choose one

Which one of the following characteristics is NOT a requirement for effective segmentation?

► Differential

► Achievable

► Accessible

► Measurable

Question No: 39 ( Marks: 1 ) - Please choose one

► Specialty products

► Shopping products

► Industrial products

► Unsought products

Question No: 40 ( Marks: 1 ) - Please choose one

Business markets can be segmented on the basis of all of the following variables EXCEPT:

► Personal characteristics

► Operating variables

► Selling approaches

► Situational factors

MGT301 - Principles of Marketing Solved Quizzes File No 1

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