midterm examination mkt501- marketing management fall...

MIDTERM EXAMINATIONMKT501- Marketing Management

Fall 2009 2010 & 2011 All papers solved in one mega file

By Admin Binish Awaiswww.vuaskari.com

Question No: 1 ( Marks: 1 ) - Please choose one Which of the following is the first step in writing a marketing plan?► Situation analysis► Opportunity and threat analysis► Executive summary ► Market analysis

2. Executive Summary

The Plan should open with a brief summary of the plans most important Goals and Recommendations. The summary can be expressed like in a brief statement, “increase sales by 10% this year” or “reduce expenses by 5 %” or say “will enter UK market this year” etc

Question No: 2 ( Marks: 1 ) - Please choose oneA market leader firm can expand the total market through:► Decreasing distribution of the product► Introducing the new usage of the product► Eliminating some features of product► Increasing cost

Question No: 3 ( Marks: 1 ) - Please choose oneProcess engineering skills are required for the successful implementation of which of the following strategy?► Market segmentation strategy► Market dominance strategy► Differentiation strategy► Cost leadership strategy

COST LEADERSHIP STRATEGY

Tthe strategy can easily be mimicked by competitors. Successful implementation also benefits from:

• process engineering skills

Question No: 4 ( Marks: 1 ) - Please choose oneAny tangible thing that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need is called:► Service► Product► Demand► Idea

Question No: 5 ( Marks: 1 ) - Please choose oneLuxury products, such as Rolex watches, are also known as:► Shopping product ► Convenience product► Emergency product► Specialty product Marketers of specialty products like Waterford crystal, Rolls-Royce cars, and Rolex watches Question No: 6 ( Marks: 1 ) - Please choose oneAggressive pricing is associated with which of the following stage of product life cycle?► Introduction► Growth► Maturity► Decline The introduction stage of theproduct life cycle occurs when a product is first introduced to ..... and more aggressive pricing, profit usually peaks during the growth stage. Question No: 7 ( Marks: 1 ) - Please choose oneAll of the following are the sources of idea for new product development EXCEPT:► Government agencies► Competitors► Suppliers► CustomersSources for new product ideas include internal sources, customers, competitor's products, distributors & suppliers, Question No: 8 ( Marks: 1 ) - Please choose oneWhich of the following is NOT a decision required in commercialization?► Why to launch the product? ► How to launch the product?► Where to launch the product?► When to launch the product?

The decisions required are:

• WHEN TO LAUNCH THE PRODUCT?

• WHERE TO LANCH THE PRODUCT?

• TO WHOM TO LAUNCH THE PRODUCT?

• HOW TO LAUNCH THE PRODUCT?

Question No: 9 ( Marks: 1 ) - Please choose oneWhich of the following are the people who purchase new products almost as soon as the products reach the market?► Innovators► Late majority► Early majority► Late adopters

Question No: 10 ( Marks: 1 ) - Please choose oneWhich of the following is the spread of idea from the source of invention to the ultimate user or consumers?► Innovation adoption process► Innovation diffusion process► Adoption process► New product recognition

DIFFUSION PROCESS has been defined as

“The spread of idea from the source of invention or creation to the ultimate user or consumers

Question No: 11 ( Marks: 1 ) - Please choose oneWhich of the following is essential requirement for medicines and drugs?► Secondary packaging► Primary labeling► Decorative packaging► Mandatory labeling

With regard to food and drugs, mandatory labeling has been a major battleground between consumer advocates and corporations since the late 19th century.

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

Which of the following is less likely to damage reputations of a brand if a new product fails?► Brand extension branding► Individual branding► Overall family branding► Line family branding

Brand extension

The existing strong brand name can be used as a vehicle for new or modified products;




Question No: 13 ( Marks: 1 ) - Please choose oneWhich of the following brands cost more than other products in the category?► Premium brand► Economy brand► Fighting brand ► Corporate brand

A Premium Brand typically costs more than other products in the categor

Question No: 14 ( Marks: 1 ) - Please choose oneUsing one brand name for several related products is known as which of the following?► Family branding► Group branding► Combination branding► Premium branding

When one brand name is used for several related products, this is referred to as Family branding.

Question No: 15 ( Marks: 1 ) - Please choose oneGift baskets are the example of which one of the following types of packaging?► Decorative► Secondary► Shipping► Primary

Question No: 16 ( Marks: 1 ) - Please choose oneWhich of the following is the packaging objective, in which small products are grouped together in one package for the reasons of efficiency?► Information transmission► Agglomeration► Physical protection► Theft reducing

•Agglomeration - Small objects are typically grouped together in one package for reasons of efficiency. For example, a single box of 1000 pencils requires less physical handling than 1000 single pencils. Alternatively, bulk commodities (such as salt) can be divided into packages that are a more suitable size for individual households.

Question No: 17 ( Marks: 1 ) - Please choose oneWhich of the following is a brand created and owned by a larg retailer of a product after purchasing in large quantity from manufacturer?► Co-brand► Private brand ► Manufacturer's brand► Licensed brand

When large Retailers buy products in bulk from manufacturers and put their own brand name on them, this

is called Private Branding, store brand, or private label.

Question No: 18 ( Marks: 1 ) - Please choose oneWhich of the following is also known as functional branding?► Economy branding► Co-branding► Family branding► Individual branding

Question No: 19 ( Marks: 1 ) - Please choose oneTarang milk is an example of which of the following?► Corporate brand► Co-brand

► Individual brand► Family brand

When a company's name is used as a product brand name, this is referred to as Corporate brandin

Question No: 20 ( Marks: 1 ) - Please choose oneWhich of the following price is very close to the maximum that customers are happily and readily willing to pay?► Premium► Cooperative► Effective► Efficient

An efficient price is a price that is very close to the maximum that customers are prepared to pay.

Question No: 21 ( Marks: 1 ) - Please choose oneGeographic pricing is also known as:► Skimming pricing► Zone pricing► Psychological pricing► Penetration pricing A type of geographical pricing called "zone pricing"Question No: 22 ( Marks: 1 ) - Please choose oneWhich of the following is a pricing technique used by retailers?► Cost–push pricing► Cost-plus pricing► Demand- push pricing► Demand- pull pricing

The pricing technique used by most retailers is cost-plus pricin

Question No: 23 ( Marks: 1 ) - Please choose oneWhich of the following method is mostly used in the retailing?► Courier service► Online shops► Self-service► Counter-service

The second, and now more widely used method of retail, is self-service.

Question No: 24 ( Marks: 1 ) - Please choose oneMarket price is also known as:► Effective price► List price► Retail price► Wholesaler priceThe market price (also called effective price) is the amount actually paid. Question No: 25 ( Marks: 1 ) - Please choose oneA company wants prompt payment from the customers. What type of discount will be suitable for the company?► Seasonal discount► Trade discount► Quantity discount► Cash discount

1) Cash discounts for prompt payment - These are intended to speed payment and thereby provide

liquidity to the firm. They are sometimes used as a promotional device.

Question No: 26 ( Marks: 1 ) - Please choose oneA seller wants payment from buyer within 10 days of sales (whereas customer can made payment within 30 days) and offers 4% discount if payment is made within 10 days. What type of cash discount will be suitable?► 4/10 net 30 ► 10/4 net 30► 10/30 net 4► 4/30 net 10

Question No: 27 ( Marks: 1 ) - Please choose oneWhich of the following markets involve decisions such as: what country to enter in, how to enter, how to adopt their product and services and how to price?► Consumer markets► Business markets► Global markets► Non profit markets

GLOBAL MARKETS

This is when we talk beyond frontiers; marketers are faced with tougher decisions for global markets. Export of product is in itself a major undertaking. Which country to enter? How to enter? How to Price? How to communicate? are just a few important and underlying decisions. Legal

system, styles of negotiation; currency situation, political situation etc a few others to be considered by the marketer.

Question No: 28 ( Marks: 1 ) - Please choose oneWhich one of the following 4Ps of marketing mix involves in decisions regarding list prices, discounts, allowances and payment periods or credit terms?► Product► Price► Place► Promotion

Question No: 29 ( Marks: 1 ) - Please choose oneThe Cargo business covers which of the following decisions under the marketing mix strategy?► Product► Price► Placement► Promotional

Question No: 30 ( Marks: 1 ) - Please choose oneCustomer cost will be considered as which of the following Ps of marketing mix?► Product► Price► Place► Promotion

Question No: 31 ( Marks: 1 ) - Please choose oneWhich of the following elements of marketing mix directly affects the value of sales?► Price► Place► Promotion► Product

Question No: 32 ( Marks: 1 ) - Please choose oneThe basic human requirement defines which of the following?► Need► Demand► Want► Satisfaction

NEED

Needs can be described as human requirements. Need is there and its natural. We need food to satisfy our hunger, water to quench out thirst. Of

course need can be more than just food, water and shelter. We need recreation, education, entertainment and lots of other things to sustain our livin

Question No: 33 ( Marks: 1 ) - Please choose oneWillingness and ability to buy the product leads towards which of the following?► Demand► Need► Want► Market

DEMAND

Want becomes a demand when backed up by an individual’s ability to pay for it. A hungry person can want a burger, but does he have money to demand a burger. Or is there a burger available to him?

Question No: 34 ( Marks: 1 ) - Please choose oneThe loyalty marketing focuses on establishing long term relationship between:► Company and retailer► Retailer and customer► Retailer and consumer► Company and customer

Relationship Marketing focuses on establish and

building long term relationship between the company and customer. We also call it loyalty marketing.

Question No: 35 ( Marks: 1 ) - Please choose oneWhich of the following is NOT a technique used by marketers to understand the customers?► Focus group► Commercialization► Web and telephones► Surveys

Question No: 36 ( Marks: 1 ) - Please choose oneWhich of the following is NOT an example of unsought goods?► Insurance policy► Course book► Encyclopedia► Funeral plots

Question No: 37 ( Marks: 1 ) - Please choose oneA customer requirement about any product in which he/ she needs to avail core features in that product, is called:► Real need

► Stated need► Unstated need► Delighted need

Question No: 38 ( Marks: 1 ) - Please choose oneOrder processing decisions are related to which of the following?► Product► Price► Distribution► Promotion

Question No: 39 ( Marks: 1 ) - Please choose oneWhich of the following is NOT a distribution decision?► Inventory management► Personal selling ► Warehousing► Distribution centers

Question No: 40 ( Marks: 1 ) - Please choose oneIf a bakery business bought a wheat farm in order to reduce the risk associated with the dependency on flour. Identify the type of integration.► Backward vertical integration► Balanced vertical integration► Forward horizontal integration► Forward vertical integration

Question No: 41 ( Marks: 10 )"Marketing concept starts with a well defined market, focuses on customer needs, coordinates all activities and produces profit by satisfying the customers". Elaborate the statement.


Results from the research that have already been conducted are displayed in which of the following part of marketing plan? ► Marketing strategies ► Executive summary ► Appendix ► Financial summary Ref: Appendix contains specifications of the new product, results from research already completed.Lesson # 8, Under the heading of Appendix


A market nicher can reduce their operating expense through less spending on:

► Market segment and advertising ► R & D and market segment ► Advertising and promotion ► R & D and advertising Question No: 3 ( Marks: 1 ) - Please choose one

Which of the following goods are purchased without any planning or search effort? www.vuaskari.com ► Emergency ► Specialty ► Impulse ► Shopping ref.Emergency Goods: goods required immediately


Which of the following is NOT undertaken by all the companies in the process of new product development? ► Market testing ► Commercialization ► Idea screening ► Idea generation Question No: 5 ( Marks: 1 ) - Please choose one

Which of the following is the degree to which new product matches the values and experiences of the individuals in the community? www.vuaskari.com

► Innovation communicability ► Innovation divisibility ► Innovation compatibility ► Innovation complexity Question No: 6 ( Marks: 1 ) - Please choose one

Which of the following is the leak-proof packaging that provides additional protection for the primary container?

www.vuaskari.com ► Primary packaging ► Secondary packaging ► Transport packaging ► Decorative packaging

Ref: Secondary packaging: Leak-proof packaging that provides additional protection for the primary receptacle(s); it may include absorbent materialQuestion No: 7 ( Marks: 1 ) - Please choose one

Packaging used for the ice creams is an example of which of the following?

► Decorative packaging ► Transport packaging ► Secondary packaging ► Primary packaging Question No: 8 ( Marks: 1 ) - Please choose one

The existing strong brand name can be as a vehicle to launch new product in the other categories. What does this statement imply? ► Family branding ► Line extension ► Individual branding ► Brand extension Question No: 9 ( Marks: 1 ) - Please choose one

Which of the following is a name, term, sign, symbol, design, or a combination of these, that identifies the product or service? ► Label ► Co-brand ► Brand ► Product Question No: 10 ( Marks: 1 ) - Please choose one

The concept of price is central to: ► Administration ► Management ► Macroeconomics ► Microeconomics The concept of price is central to microeconomics where it is one of the most important variables in resource allocation theory (also called price theory).Question No: 11 ( Marks: 1 ) - Please choose one

The basic human requirement defines which of the following?

► Need ► Demand ► Want ► Satisfaction Question No: 12 ( Marks: 1 ) - Please choose one

The phenomenon, when a customer dislikes a product and talks against the product, is termed as: www.vuaskari.com ► Propaganda ► Unfavorable environment ► Bad mouth ► Bad impression

Bad mouth is when a customer talks not in favours of the product.Question No: 13 ( Marks: 1 ) - Please choose one

Distributors are part of which of the following environment?

► Task environment ► Broad environment ► Natural environment ► Political environment reference..Task environment involves immediate actors, such as suppliers, distributors, dealers and consumers etc, involved in production, distribution and promotion.


In which section of the marketing plan you would find the detailed information about the marketing environment, market trends, customers and competitors? ► Situation analysis ► Product/market background ► Marketing strategies ► Market analysis Question No: 15 ( Marks: 1 ) - Please choose one

Which one of the following strategies emphasizes on brand image? ► Cost leadership strategy ► Market dominance strategy ► Differentiation strategy ► Market segmentation strategy Question No: 16 ( Marks: 1 ) - Please choose one

Which of the following is NOT a type of innovation strategy? www.vuaskari.com

► Pioneers ► Challengers ► Close followers ► Late followers Innovation Strategies- This deals with the firm rate of new product development and business model innovation. It asks whether the company is on the cutting edge of technology and business innovation. There are three types:

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ABC Company has been selling quality women garments at Rs.2000 to Rs.3000 which is roughly one tenth of their usual selling price. This is an example of: ► Skimming

► Loss leader ► Demand based pricing ► Cost based pricing Question No: 18 ( Marks: 1 ) - Please choose one

Distribution of posters regarding the mobile phone usage during driving by the people against their usage illustrates:

► The government is not involved in marketing ► That the drivers constitute market segment ► How marketing concepts are applied by the non profit organization ► Awareness to the general public Question No: 19 ( Marks: 1 ) - Please choose one

Which of the following is the unique combination of benefits received by targeted buyers that includes quality, price, convenience, on time delivery, and both before sale and after sale service. ► The marketing concept ► Customer value ► The price-quality trade off ► Customer relationship management Question No: 20 ( Marks: 1 ) - Please choose one

According to the societal marketing concept, who is most involved in deciding what needs and wants are good for consumers in the long run?

www.vuaskari.com ► The organization itself ► The individual consumers ► Competitive forces ► Marketing researchers Ref: The societal marketing concept holds that the organization itself should discover and satisfy the needs of its consumers while also providing for society's well being in a pro-active way. Marketing researchers may suggest concerns about society, but they do not make the final decision about what to do. Question No: 21 ( Marks: 1 ) - Please choose one

Which of the following statements about environmental factors is true? ► Environmental factors have no influence over an organization's opportunities. ► Recent studies have shown that an action-oriented firm still cannot affect environmental factors in any way. ► Environmental factors are also called controllable factors. ► Environmental factors include social, economic, technological, competitive, and regulatory forces. Question No: 22 ( Marks: 1 ) - Please choose one

While writing the marketing plan, the analysis of environmental factors like supply chain,

Government and legal etc, comes under which of the following section of marketing plan?

► Macro environment ► Market analysis ► Consumer analysis ► Internal environment analysis ref.Macro-environment: All situations regarding Economy, Government, Legal, Technology, Ecological, Socio-cultural, Supply chain and some other macro factors must be carefully studied. Relevant data from authentic sources regarding these factors must be collected and analyzed.


Which of the following goods are purchased by customers after comparisons of competing goods available in stores on the basis of price, quality, style and colors?

► Specialty goods ► Shopping goods ► Impulse goods ► Convenience goods Question No: 24 ( Marks: 1 ) - Please choose one

___________type of growth refers to concentrating activities on markets and/or products that are familiar: ► Diversification ► Condensive ► Integrative ► Intensive Question No: 25 ( Marks: 1 ) - Please choose one

The “convenience goods” in the industrial market are:

► Operating supplies ► Components parts ► Industrial computers ► Accessory equipment Question No: 26 ( Marks: 1 ) - Please choose one

Many business executives argue that a more accurate explanation of actual pricing behavior is that within a given profit constraints, firms strive for:

► Profit maximization ► Target return ► Sales maximization ► Market share





Which of the following discourages the entry of competitors as well as act as a barrier to entry?

► Cost-orientated pricing ► Psychological pricing ► Penetration pricing ► Market skimming pricing Question No: 28 ( Marks: 1 ) - Please choose one

The opportunity to deduct 2 percent from the bill if payment is made within 10 days is a: ► Trade discounts ► Quality discounts ► Cash discount ► Off price discounts

Which of the following must be developed at each product level for achieving the goals? ► Corporate plan ► Selling plan ► Marketing plan ► Business plan

Marketing Planning ProcessEach product level must develop a marketing plan for achieving its goals.

Which of the following part of a marketing plan defines the plan’s financial and marketing goals in terms of sales volume, market share and profit?► Marketing strategy ► Action programs ► Issue analysis ► Objectives

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4. ObjectivesDefines the plan’s financial and marketing goals in terms of sales volume, market share and profit.http://www.steadysales.com/the-contents-of-a-marketing-plan

Assumptions, pro-forma income statement, contribution margin analysis, breakeven analysis, ratios analysis must be very formally done in: ► Executive summary ► Financial summary ► Promotional plan ► Business plan

7. Financial Summary

Assumptions, pro-forma monthly income statement, contribution margin analysis, breakeven analysis. This information must be very formally done at this stag

Which of the following has the largest market share in the relevant product market? ► Market leader ► Market challenger ► Market nicher ► Market follower

Market Leader

The market leader is dominant in its industry. It has substantial market share and often extensive distribution arrangements with retailers. It typically is the industry leader in developing innovative new business models and new products (although not always). It sometimes has some market power in determining either price or output. Of the four dominance strategies, it has the most flexibility in crafting strategy.

http://groups.google.com/group/vu-askari?hl=en

A market nicher can reduce their operating expense through less spending on: ► Market segment and advertising ► R & D and market segment ► Advertising and promotion ► R & D and advertising


http://www.steadysales.com/the-contents-of-a-marketing-plan

http://webcache.googleusercontent.com/search?q=cache:mKnoUWHUW08J:www.public-domain-content.com/encyclopedia/List_of_marketing_topics/Market_d* They tend to keep their operating expenses down by spending less on R&D, advertising, and personal selling.

A market leader firm can expand the total market through: ► Decreasing distribution of the product ► Introducing the new usage of the product ► Eliminating some features of product ► Increasing cost Market leaders can expand the market by developing new users, new uses, and more usage of its productsA brand name is one of the elements of the: ► Discounted product ► Core benefit ► Augmented product ► Actual producthttp://www.xn--lba.net/articles/20262/BrandThe brand owner will seek to bridge the gap between the brand image and the brand identity Effective brand names build a connection between the brand personality as it is perceived by the target audience and the actual product/service. Which of the following is TRUE about a product? ► Every tangible thing the customer receives in an exchange ► The idea that the customer receives in an exchange ► The service that is rendered to a customer ► The physical object the customer receives in an exchange

Tyman-Space Online CollegePRODUCT anything, tangible or intangible, received in an exchange to satisfy a want or need. Products include

Identify the stage of product life cycle in which sales are at peak. ► Introduction ► Growth ► Maturity ► Decline

Product Life Cycle Stages | Life Cycle Management The maturity stage of the product lifec ycle is characterized by sales growth reaching peaklevels

Which of the followings are considered defensive in nature? ► Maturity and growth stage ► Maturity and decline stage

http://www.life-cyclemanagement.com/product-life-cycle-stages.php


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http://www.xn--lba.net/articles/20262/Brand

http://webcache.googleusercontent.com/search?q=cache:mKnoUWHUW08J:www.public-domain-content.com/encyclopedia/List_of_marketing_topics/Market_d



► Introduction and maturity stage ► Introduction and growth stage

The second two stages, mature and decline stage, are often seen as defensive in nature.

Standard Cable cut back advertising expenditures to minimum level and reduced the number of channel members for its industrial cable product. These actions are indicative of a product in which of the following stage of its life cycle? ► Introduction ► Growth ► Maturity ► Decline ) Decline Stage of the product life cycle characterized by declining sales volumes and profits.http://webcache.googleusercontent.com/search?q=cache:xhjHBICXvekJ:mencyclopedia.narod.ru/p_text.html+Standard+Cable+cut+back+advertising+expendiHighest percentage of ideas for new products originates with/from which of the following sources? ► Top management ► Customers ► Competitors ► Employees

Know thy market - RFID Training: RFID Education and Market ...

Several studies of industrial markets have shown that the highest percentage of new product ideas originate with customers.

Which of the following are the people who purchase new products almost as soon as the products reach the market? ► Innovators ► Late majority ► Early majority ► Late adopters

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

http://www.rfidrevolution.com/know_market.htm



http://webcache.googleusercontent.com/search?q=cache:xhjHBICXvekJ:mencyclopedia.narod.ru/p_text.html+Standard+Cable+cut+back+advertising+expendi



► Desire ► Awareness ► Evaluation ► Interest

Which product is MOST likely to be purchased through routine decision making? ► Television set ► Soft drink ► Shirt ► Car

Which of the following has a quick response towards a new product? ► Opinion leaders ► Late majority ► Early majority ► Early adopters

Which of the following brands is created specifically to counter a competitive threat? ► Premium brand ► Economy brand ► Fighting brand ► Corporate brand

Using one brand name for several related products is known as which of the following? ► Family branding ► Group branding ► Combination branding ► Premium branding

Packaging used for the ice creams is an example of which of the following? ► Decorative packaging ► Transport packaging ► Secondary packaging ► Primary packaging

According to “Research supporting odd pricing theory” which of the following number out of all the numbers between 1 and 100 is thought to have least perceived value as compared to its actual value? ► 90 ► 77► 55► 25

To pay premium price for the product customers require: ► Allowance► Flawless performance► Discounts► High promotion

Mr. A, marketer of XYZ Co. is selling his ice-cream in the market at Rs.20, 20% more than his competitors’ price. Still his sales are increasing. Now his aim is to maintain same pricing. He enjoys which type of leadership? ► Promotion leadership► Price leadership► Cost leadership► Product leadership

Which of the following price is quoted to a potential buyer, usually in written form? ► Wholesale price ► Market price► List price► Retail price

A seller wants payment from buyer within 10 days of sales (whereas customer can made payment within 30 days) and offers 4% discount if payment is made within 10 days. What type of cash discount will be suitable? ► 4/10 net 30► 10/4 net 30► 10/30 net 4► 4/30 net 10

Market-penetration pricing will likely to be used most in selling which of the following items? ► Specialty► Convenience► Unsought► Pharmaceuticals

Many companies try to set a price that will maximize current profit. This strategy assumes that company has knowledge of its: ► Cost and production function► Revenue and cost function► Demand and market function► Demand and cost function

Identify the other name for global market.

► Consumer market► Import market► Export market► Government market

Which one of the following 4Ps of marketing mix involves in decisions regarding list prices, discounts, allowances and payment periods or credit terms? ► Product► Price► Place► Promotionhttp://groups.google.com/group/vu-askari?hl=en

Customer cost will be considered as which of the following Ps of marketing mix? ► Product► Price► Place► Promotion

Which of the following is about managing strategically the customer’s entire experience with the product and company? ► Customer experience management► Customer retention management► Customer life-time value management► Customer relationship management

Customer’s viewpoint on a firm’s products and services can be improved through: ► Experiential world of customers► Experiential innovation► Customer interface► Building experiential platform

Which of the following firms emphasizes on product’s benefits to the customers rather product attributes? ► Product oriented► Market oriented► Sales oriented► Production oriented

Which of the following is NOT a technique of measuring customer satisfaction and monitoring customer’s complaint? ► Customer complaints database


► Web and telephone information hotlines► Exit interviews► Business analysis

The phenomenon, when a customer dislikes a product and talks against the product, is termed as: ► Propaganda► Unfavorable environment► Bad mouth► Bad impression

Products that are usually purchased due to adversity and high promotional back up rather than desire are called: ► Sought goods► Unique goods► Unsought goods► Preferred goods

A customer requirement about any product in which he/ she needs to avail core features in that product, is called: ► Real need► Stated need► Unstated need► Delighted need

Which of the following products requires mass promotion by a producer? ► Convenience► Shopping► Specialty► Unsought

Which of the following is NOT an aggressiveness strategy? ► Harvesting► Building► Intensification► Holding

Which of the following is NOT a type of innovation strategy? ► Pioneers► Challengers► Close followers► Late followers

Suppose Nestle wants to expand its line of food products. The managers conduct surveys from customers to determine which food items would

appeal to customers. Nestle is currently in which of the following phase of new product development? ► Idea generation► Idea screening► Test marketing► Business analysis

Question No: 1 (Marks: 1) - Please choose one Critical path analysis is a part of which of the following? ► Implementation stage► Marketing strategies ► Executive summary ► Financial summary

Commercialization

o launch the product

o produce and place advertisements and other promotions

o fill the distribution pipeline with product

o critical path analysis is useful at this stage

Question No: 2 (Marks: 1) - Please choose oneThe strategy which involves creating a product that is perceived as unique and should provide superior value for the customer is called: ► Market segmentation strategy ► Market dominance strategy ► Differentiation strategy ► Cost leadership strategy

DIFFERENTIATION STRATEGY

Differentiation involves creating a product that is perceived as unique. The unique features or benefits should provide superior value for the customer if this strategy is to be successful

Question No: 3 ( Marks: 1 ) - Please choose one A brand name is one of the elements of the: ► Discounted product

► Core benefit ► Augmented product ► Actual product

Question No: 4 ( Marks: 1 ) - Please choose one Luxury products, such as Rolex watches, are also known as: ► Shopping product ► Convenience product ► Emergency product ► Specialty product

Question No: 5 (Marks: 1) - Please choose oneWhich of the following goods are purchased without any planning or search effort? ► Emergency ► Specialty ► Impulse ► Shopping Emergency Goods: goods required immediately Question No: 6 (Marks: 1) - Please choose one Which of the following is frequently used in testing the acceptance of new product design? ► Concept development ► Business analysis ► Concurrent engineering ► Conjoint analysis

. It is used frequently in testing customer acceptance of new product designs and assessing the appeal of advertisements. It has been used in product positioning, but there are some problems with this application of the technique.

Question No: 7 (Marks: 1) - Please choose one Identify the commercialization decision which includes decisions regarding locality, region, nationally or even internationally launching the product. ► Why to launch the product? ► How to launch the product? ► Where to launch the product? ► When to launch the product? Question No: 8 (Marks: 1) - Please choose one Which product is MOST likely to be purchased through routine decision making? ► Television set ► Soft drink► Shirt ► Car

Question No: 9 (Marks: 1) - Please choose one Which of the following is the leak-proof packaging that provides additional protection for the primary container? ► Primary packaging ► Secondary packaging ► Transport packaging ► Decorative Question No: 10 ( Marks: 1 ) - Please choose one Which of the following is less likely to damage reputations of a brand if a new product fails? ► Brand extension branding ► Individual branding ► Overall family branding ► Line family branding

Brand extension

The existing strong brand name can be used as a vehicle for new or modified products;

Question No: 11 (Marks: 1) - Please choose one Which of the following brands is created specifically to counter a competitive threat? ► Premium brand ► Economy brand ► Fighting brand ► Corporate brand

A fighting brand is a brand created specifically to counter a competitive threat.

Question No: 12 (Marks: 1) - Please choose one Gift baskets are the example of which one of the following types of packaging? ► Decorative ► Secondary ► Shipping ► Primary

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

Which of the following is the packaging objective, in which small products are grouped together in one package for the reasons of efficiency? ► Information transmission ► Agglomeration ► Physical protection ► Theft reducing

•Agglomeration - Small objects are typically grouped together in one package for reasons of efficiency. For example, a single box of 1000 pencils requires less physical handling than 1000 single pencils. Alternatively, bulk commodities (such as salt) can be divided into packages that are a more suitable size for individual households.

Question No: 14 (Marks: 1) - Please choose one The label on a pack of frozen peas says, 'packed within an hour of picking'. These words are used: ► To promote the product ► To satisfy legal requirements ► To provide information ► To fulfill ethical requirement Question No: 15 (Marks: 1) - Please choose one Packaging used for the ice creams is an example of which of the following? ► Decorative packaging ► Transport packaging ► Secondary packaging ► Primary packaging

Question No: 16 (Marks: 1) - Please choose oneWhich of the following is a name, term, sign, symbol, design, or a combination of these, that identifies the product or service?► Label► Co-brand► Brand► Product

Question No: 17 (Marks: 1) - Please choose oneWhich of the following is a group of products that are closely related because they function in a similar manner?► Convenience product► Private brand► Line extension► Product line

When a company uses the Brand equity associated with an existing brand name to introduce a new product or product line, this is referred to as Brand leveraging.

Question No: 18 (Marks: 1) - Please choose oneWhich of the following is also known as dual branding?► Private brand► Multibrand► Co-brand► New brand

When two or more brands work together to market their products, this is referred to as Co-branding

Question No: 19 (Marks: 1) - Please choose oneThe concept of price is central to:► Administration► Management► Macroeconomics► Microeconomics

The concept of price is central to microeconomics where it is one of the most important variables in resource allocation theory (also called price theory)

Question No: 20 (Marks: 1) - Please choose oneWhich of the following marketing mix element generates revenue? ► Promotion► Price► Place► Product

Question No: 21 (Marks: 1) - Please choose oneABC Company priced the product as of Rs. 19.99 instead of Rs.20. Which of the following pricing techniques is ABC Company using?► Dodging pricing► Deceptive pricing► Premium pricing► Psychological pricing

Question No: 22 ( Marks: 1 ) - Please choose oneTo pay premium price for the product customers require:

► Allowance► Flawless performance► Discounts► High promotionm,

Question No: 23 (Marks: 1) - Please choose oneWhich of the following is NOT an objective of discounts?► Reward valuable customers► Reward competitors► Move out-of-date stock► Increase short-term sales

Question No: 24 (Marks: 1) - Please choose one3/10 net 30 is an example of which of the following?► Seasonal discount► Trade discount► Quantity discount► Cash discount

1) Cash discounts for prompt payment - These are intended to speed payment and thereby provide liquidity to the firm. They are sometimes used as a promotional device.

Question No: 25 (Marks: 1) - Please choose oneMarket price is also known as:► Effective price► List price► Retail price► Wholesaler price

The Effective Price is the price the company receives after accounting for discounts, promotions, and other incentives.

Question No: 26 ( Marks: 1 ) - Please choose oneWhich of the following best describes 3/10 net 40 ROG? ► the buyer must pay within 10 days of receipt of goods but will receive 3% discount if paid in 10 days► The buyer must pay within 3 days of receipt of goods but will receive 10% discount if paid in 40 days► The buyer must pay within 10 days of receipt of goods but will receive 3% discount if paid in 40 days

► The buyer must pay within 40 days of receipt of goods but will receive 3% discount if paid in 10 days

Question No: 27 (Marks: 1) - Please choose oneWhich of the following is also known as accumulation discounts?► Trade discount► Non-cumulative quantity discount► Cumulative quantity discount► Quantity discount

•Cumulative quantity discounts (also called accumulation discounts). These are price reductions based on the quantity purchased over a set period of time. The expectation is that they will impose an implied switching cost and thereby bond the purchaser to the seller.

Question No: 28 (Marks: 1) - Please choose oneA company is providing warehousing facility to its channel members. The company is using which of the following?► Seasonal discount ► Trade discount► Quantity discount► Cash discount

4) Seasonal discounts - These are price reductions given when an order is placed in a slack period (example: purchasing skis in April in the northern hemisphere or in September in the southern hemisphere). On a shorter time scale, a happy hour may fall in this category.

Question No: 29 (Marks: 1) - Please choose oneTo attract customers into stores, the store advertises its milk at a price less than cost, hoping that customers will purchase other groceries as well. Milk is acting as which of the following?► Premium item► On- sale item► Discounted item► Loss leader Question No: 30 (Marks: 1) - Please choose oneMany companies try to set a price that will maximize current profit. This strategy assumes that company has knowledge of it’s:► Cost and production function► Revenue and cost function► Demand and market function

► Demand and cost function

Question No: 31 (Marks: 1) - Please choose oneWhich one of the following 4Ps of marketing mix involves in decisions regarding list prices, discounts, allowances and payment periods or credit terms?► Product► Price► Place► Promotion Question No: 32 (Marks: 1) - Please choose oneWhen need is directed towards a specific object it is called: ► Actual need► Want► Demand► Satisfaction

WANT

Need becomes Want, when they are directed towards a specific object. When hungry we need food; but we want say a burger. Want can vary from place to place and from people to people. A man in USA can want a burger to eat when hungry whereas a man in Pakistan needs a ‘Nan”. Want can be different at different income levels and in various time

Question No: 33 (Marks: 1) - Please choose oneIn which one of the following orientations companies often design the products with little or no input from customers? ► Market-oriented► Product-oriented► Sales-oriented► Production-oriented

Question No: 34 (Marks: 1) - Please choose oneA customer requirement about any product in which he/ she needs to avail core features in that product, is called: ► Real need► Stated need► Unstated need► Delighted need

Question No: 35 (Marks: 1) - Please choose oneFactors of broad environment affect:► Economic environment► Task environment► Cultural environment► Technological environment Question No: 36 (Marks: 1) - Please choose oneMarketing starts with which of the following 4Ps? ► Product► Price► Place► Promotion Question No: 37 (Marks: 1) - Please choose oneA business wants to create the awareness about the features and befits of the product in the market. Which of the following decisions are important to achieve the goal?► Price decisions► Place decisions► Promotion decisions► Product decisions

Promotion Decisions

In the context of the marketing mix, promotion represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response. Marketing communication decisions include:

• Promotional strategy (push, pull, etc.)

• Advertising

• Personal selling & sales force

• Sales promotions

• Public relations & publicity

• Marketing communications budget

Question No: 38 (Marks: 1) - Please choose oneIf a bakery business bought a wheat farm in order to reduce the risk associated with the dependency on flour. Identify the type of integration.► Backward vertical integration► Balanced vertical integration

► Forward horizontal integration► Forward vertical integration

In backward vertical integration, the company sets up subsidiaries that produce some of the inputs used in the production of its products. For example, an automobile company may own a tire company, a glass company, and a metal company. Control of these three subsidiaries is intended to create a stable supply of inputs and ensure a consistent quality in their final product

Question No: 39 (Marks: 1) - Please choose oneWhich of the following products requires mass promotion by a producer?► Convenience► Shopping► Specialty► Unsought Question No: 40 (Marks: 1) - Please choose oneWhich of the following is NOT included in the financial summary of a marketing plan?► Pro-forma income statement► Month-by-month agenda► Breakeven analysis► Assumptions


Assumptions, pro-forma monthly income statement, contribution margin analysis, breakeven analysis. This information must be very formally done at this stage

Question No: 41 (Marks: 10)What is conjoint analysis? Why it is often used by marketers while introducing new product? Answer: Conjoint Analysis and Reason of Why Marketers Use This While Introducing New Product: It is a statistical technique hat is originated in mathematical psychology. It is used in many of the social sciences and applied sciences like marketing, operations research and product management. The main objective of conjoint analysis in marketing is to determine what combination of a limited number of attributes is mostly preferred by the public.

It is often used in testing customer acceptance of a new product designs and assessing the appeal of advertisements used in product positioning. There are few steps for conducting conjoint analysis. The basic steps are:

1. Select feature to be tested.

2. Show these features combination to the potential customers.

3. Input data from a representative sample of potential customers into the

statistical software and select the conjoint analysis procedure; the software

will produce the utility functions for each feature.

4. Incorporate the most preferred features into a new product and

advertisement.

It is very useful market analysis as we can determine the customer needs and their interest their liking and disliking and will lead to success of the product to be launched. That is why it is mostly used by the marketers while introducing a new product.

Which of the following must be developed at each product level for achieving the goals? ► Corporate plan ► Selling plan ► Marketing plan ► Business plan

Marketing Planning ProcessEach product level must develop a marketing plan for achieving its goals.

Which of the following part of a marketing plan defines the plan’s financial and marketing goals in terms of sales volume, market share and profit?► Marketing strategy ► Action programs ► Issue analysis ► Objectives Defines the plan’s financial and marketing goals in terms of sales volume, market share and profit.http://www.steadysales.com/the-contents-of-a-marketing-plan

http://www.steadysales.com/the-contents-of-a-marketing-plan

http://www.google.com.pk/url?sa=t&source=web&cd=1&ved=0CBYQFjAA&url=http%3A%2F%2Fwww.slideshare.net%2Fsushant_murarka%2Fmarketing-planning-process-presentation&ei=0KrGTercFIiGhQfc1u2HBA&usg=AFQjCNE6z8d4W4vcwNylMBtZOtZJRzbBLA

Assumptions, pro-forma income statement, contribution margin analysis, breakeven analysis, ratios analysis must be very formally done in: ► Executive summary ► Financial summary ► Promotional plan ► Business plan


Assumptions, pro-forma monthly income statement, contribution margin analysis, breakeven analysis. This information must be very formally done at this stag

Which of the following has the largest market share in the relevant product market? ► Market leader ► Market challenger ► Market nicher ► Market follower

Market Leader

The market leader is dominant in its industry. It has substantial market share and often extensive distribution arrangements with retailers. It typically is the industry leader in developing innovative new business models and new products (although not always). It sometimes has some market power in determining either price or output. Of the four dominance strategies, it has the most flexibility in crafting strategy.


A market nicher can reduce their operating expense through less spending on: ► Market segment and advertising ► R & D and market segment ► Advertising and promotion ► R & D and advertising http://webcache.googleusercontent.com/search?q=cache:mKnoUWHUW08J:www.public-domain-content.com/encyclopedia/List_of_marketing_topics/Market_d* They tend to keep their operating expenses down by spending less on




R&D, advertising, and personal selling.

A market leader firm can expand the total market through: ► Decreasing distribution of the product ► Introducing the new usage of the product ► Eliminating some features of product ► Increasing cost Market leaders can expand the market by developing new users, new uses, and more usage of its productsA brand name is one of the elements of the: ► Discounted product ► Core benefit ► Augmented product ► Actual producthttp://www.xn--lba.net/articles/20262/Brand

The brand owner will seek to bridge the gap between the brand image and the brand identity Effective brand names build a connection between the brand personality as it is perceived by the target audience and the actual product/service.

Which of the following is TRUE about a product? ► Every tangible thing the customer receives in an exchange ► The idea that the customer receives in an exchange ► The service that is rendered to a customer ► The physical object the customer receives in an exchangePRODUCT anything, tangible or intangible, received in an exchange to satisfy a want or needIdentify the stage of product life cycle in which sales are at peak. ► Introduction ► Growth ► Maturity ► Decline

Product Life Cycle Stages | Life Cycle Management The maturity stage of the product lifec ycle is characterized by sales growth reaching peaklevels

Which of the followings are considered defensive in nature? ► Maturity and growth stage ► Maturity and decline stage ► Introduction and maturity stage ► Introduction and growth stage

Standard Cable cut back advertising expenditures to minimum level and reduced the number of channel members for its industrial cable product. These actions are indicative of a product in which of the following stage of its life cycle?


http://www.xn--lba.net/articles/20262/Brand

► Introduction ► Growth ► Maturity ► Decline

Highest percentage of ideas for new products originates with/from which of the following sources? ► Top management ► Customers ► Competitors ► Employees

Know thy market - RFID Training: RFID Education and Market ...

Several studies of industrial markets have shown that the highest percentage of new product ideas originate with customers.


Which of the following are the people who purchase new products almost as soon as the products reach the market? ► Innovators ► Late majority ► Early majority ► Late adopters

One who are early adopters. They are very quick in their response. These people are venture some and willing to try new ideas. In fact they are innovators in life and early adopters.

Which of the following is NOT one of the stages that customers go through in the process of adopting a new product? ► Desire ► Awareness ► Evaluation ► Interest

FIVE SUCH STAGES HAVE BEEN OBSERVED

• AWARENESS: this stage is when a consumer hears about an innovation, but lacks information about it





• INTEREST: the consumer is stimulated to seek information about the innovation

• EVALUATION: this is when the consumer decides whether to use the product or not

• TRIAL: the consumer tries the product to estimate the value of innovation

• ADOPTION: this is when the consumer adopts to use the product on regular basis and use

the innovation

Which product is MOST likely to be purchased through routine decision making? ► Television set ► Soft drink ► Shirt ► Car

Which of the following has a quick response towards a new product? ► Opinion leaders ► Late majority ► Early majority ► Early adopters

One who are early adopters. They are very quick in their response.

Which of the following brands is created specifically to counter a competitive threat? ► Premium brand ► Economy brand ► Fighting brand ► Corporate brand

A fighting brand is a brand created specifically to counter a competitive threat.

Using one brand name for several related products is known as which of the following? ► Family branding ► Group branding ► Combination branding ► Premium branding

When one brand name is used for several related products, this is referred to as Family branding.

Packaging used for the ice creams is an example of which of the following? ► Decorative packaging ► Transport packaging ► Secondary packaging ► Primary packaging primary packaging is used to color beverages, dessert powders, candy, ice creamAccording to “Research supporting odd pricing theory” which of the following number out of all the numbers between 1 and 100 is thought to have least perceived value as compared to its actual value? ► 90 ► 77► 55► 25

In a study, the perceived value of all the numbers between 1 and 100 were studied, and 77 was shown to

have the lowest perceived value relative to its actual value.

To pay premium price for the product customers require: ► Allowance► Flawless performance► Discounts

► High pro

3. They require flawless performance in this application - The cost of product malfunction is too high

to buy anything but the best - example: heart pacemaker motion

Mr. A, marketer of XYZ Co. is selling his ice-cream in the market at Rs.20, 20% more than his competitors’ price. Still his sales are increasing. Now his aim is to maintain same pricing. He enjoys which type of leadership? ► Promotion leadership► Price leadership► Cost leadership► Product leadershipWhich of the following price is quoted to a potential buyer, usually in written form? ► Wholesale price ► Market price► List price

► Retail price

They could modify either the manufacturer's list price (determined by the manufacturer and often printed

on the package), the retail price (set by the retailer and often attached to the product with a sticker), or the

list price (which is quoted to a potential buyer, usually in written form).

A seller wants payment from buyer within 10 days of sales (whereas customer can made payment within 30 days) and offers 4% discount if payment is made within 10 days. What type of cash discount will be suitable? ► 4/10 net 30(page#43)► 10/4 net 30► 10/30 net 4► 4/30 net 10

Market-penetration pricing will likely to be used most in selling which of the following items? ► Specialty► Convenience► Unsought► Pharmaceuticals

Many companies try to set a price that will maximize current profit. This strategy assumes that company has knowledge of its: ► Cost and production function► Revenue and cost function► Demand and market function► Demand and cost function

Identify the other name for global market. ► Consumer market► Import market► Export market► Government market

Which one of the following 4Ps of marketing mix involves in decisions regarding list prices, discounts, allowances and payment periods or credit terms? ► Product► Price► Place► Promotion


Customer cost will be considered as which of the following Ps of marketing mix? ► Product► Price► Place► Promotion

Which of the following is about managing strategically the customer’s entire experience with the product and company? ► Customer experience management► Customer retention management► Customer life-time value management► Customer relationship management

CUSTOMER EXPERIENCE MANAGEMENT 5 Nov 2009 ... Is related to managing strategically customers entire experience with the product and the company.

Customer’s viewpoint on a firm’s products and services can be improved through: ► Experiential world of customers► Experiential innovation► Customer interface► Building experiential platform

STEP NO 5

Continue experiential innovation

• Anything that can improve customer’s own viewpoint on your products and services

Which of the following firms emphasizes on product’s benefits to the customers rather product attributes? ► Product oriented► Market oriented► Sales oriented► Production orientedMARKETING ORIENTATION FIRM CHARACTERISTICS

Broad product lines Emphasis on a product’s benefits to customers rather than on productattributes

http://churmura.com/business/customer-experience-management/22137/

http://churmura.com/business/customer-experience-management/22137/


http://webcache.googleusercontent.com/search?q=cache:QPK3NRVx6lAJ:churmura.com/business/market-orientation/22142/+Market+oriented+firms+emphasiWhich of the following is NOT a technique of measuring customer satisfaction and monitoring customer’s complaint? ► Customer complaints database► Web and telephone information hotlines► Exit interviews► Business analysis

The phenomenon, when a customer dislikes a product and talks against the product, is termed as: ► Propaganda► Unfavorable environment► Bad mouth► Bad impression

The customer still may not fully like the product and have

what we calls ‘bad-mouth’. Bad mouth is when a customer talks not in favours of the product. Bad mouth

travels fas

Products that are usually purchased due to adversity and high promotional back up rather than desire are called: ► Sought goods► Unique goods► Unsought goods► Preferred goods

This concept emphasizes on aggressive selling and high promotional back up. Selling, concept is

practical on what we call as ‘unsought goods’ such as insurance, encyclopedia et

A customer requirement about any product in which he/ she needs to avail core features in that product, is called: ► Real need► Stated need► Unstated need► Delighted need

Which of the following products requires mass promotion by a producer? ► Convenience

http://webcache.googleusercontent.com/search?q=cache:QPK3NRVx6lAJ:churmura.com/business/market-orientation/22142/+Market+oriented+firms+emphasi



► Shopping► Specialty► Unsought

Which of the following is NOT an aggressiveness strategy? ► Harvesting► Building► Intensification► Holding

Marketing Strategies Aggressiveness strategies - This asks whether a firm should grow or not, and if so, ... One scheme divides strategies into: building; holding; harvesting

Which of the following is NOT a type of innovation strategy? ► Pioneers► Challengers► Close followers► Late followers

Market Strategies | Economy Watch Innovation strategies also also let the company know if it is on the verge of fore fronting technology ... These can be of three types-pioneers,close followers and late followers

Suppose Nestle wants to expand its line of food products. The managers conduct surveys from customers to determine which food items would appeal to customers. Nestle is currently in which of the following phase of new product development? ► Idea generation► Idea screening► Test marketing► Business analysis

http://webcache.googleusercontent.com/search?q=cache:-XtQ9vRd_EsJ:www.ehow.com/info_8196815_list-new-product-development-process.html+test+


The skimming, penetration, bargaining and discounts are included in which of the following marketing mix strategy?

► Product decisions

► Price decisions




http://www.google.com.pk/url?sa=t&source=web&cd=4&ved=0CC8QFjAD&url=http%3A%2F%2Fwww.economywatch.com%2Fmarket%2Foverview%2Fmarket-strategies.html&ei=KwPHTcrLFdGyhAe7mqzpAw&usg=AFQjCNFldoUYUqBvwnZd2LkgA_qY38UKww

http://www.google.com.pk/url?sa=t&source=web&cd=4&ved=0CC8QFjAD&url=http%3A%2F%2Fwww.economywatch.com%2Fmarket%2Foverview%2Fmarket-strategies.html&ei=KwPHTcrLFdGyhAe7mqzpAw&usg=AFQjCNFldoUYUqBvwnZd2LkgA_qY38UKww

http://www.nowsell.com/marketing-guide/marketing-strategies.html

http://www.nowsell.com/marketing-guide/marketing-strategies.html

► Place decisions

► Promotion decisions

Price Decisions

Some examples of pricing decisions to be made include:

• Pricing strategy (skim, penetration, etc.)

• Suggested retail price

• Volume discounts and wholesale pricing

• Cash and early payment discounts

• Seasonal pricing

• Bundling

• Price flexibility

• Price discriminatio


The building, holding, and harvesting are the types of:

► Innovation strategy

► Aggressiveness strategy

► Diversification strategy

► Market dominance strategy

• Aggressiveness Strategies - This asks whether a firm should grow or not, and if so, how fast.

One scheme divides strategies into:

o building

o holding

o harvesting


Which of the following attacks the vulnerable part of a competitor?

► Market leader

► Market challenger

► Market nicher

► Market follower

Market Challenger

A market challenger is a firm in a strong, but not dominant position that is following an aggressive strategy of trying to gain market share. It typically targets the industry leader (for example, Pepsi targets Coke), but it could also target smaller, more vulnerable competitors.


The strategy which involves creating a product that is perceived as unique and should provide superior value for the customer is called:

► Market segmentation strategy

► Market dominance strategy

► Differentiation strategy

► Cost leadership strategy

DIFFERENTIATION STRATEGY

Differentiation involves creating a product that is perceived as unique. The unique features or benefits should provide superior value for the customer if this strategy is to be successful


Presenting the product concept to appropriate target consumers and getting their reactions, describes which of the following options?

► Concept development

► Concept testing

► Commercialization

► Concept trial

www.vuaskari.com


Which of the following is the packaging objective, in which small products are grouped together in one package for the reasons of efficiency?

► Information transmission

► Agglomeration

► Physical protection

► Theft reducing


Which of the following marketing mix element generates revenue?

► Promotion

► Price

► Place

► Product


Which of the following is considered as dead end of distribution?

► Promotion

► Warehousing

► Wholesaling

► Retailing


While considering the place for a product which of the following is important for customer?

► Communication

► Convenience

► Customer cost

► Customer solution


The loyalty marketing focuses on establishing long term relationship between:

► Company and retailer

► Retailer and customer

► Retailer and consumer

► Company and customer

Relationship Marketing focuses on establish and building long term relationship between the company and customer. We also call it loyalty marketing


Which of the following is NOT an ancillary service?

► Warranty

► Installation

► Delivery

► Labeling

The offering of ancillary services like credit availability, delivery, installation, and warranty




www.vuaskari.com


Which of the following best describes the definition of marketing mix?

► The way product is priced

► The way product are arranged in the stores

► The way business elements are combined to meet the needs of customers

► The way business distribute the products in the market


Which of the following strategies requires premium pricing?

► Target market strategy

► Market segmentation strategy

► Differentiation strategy

► Cost leadership strategy


Price is the only element in the marketing mix that produces __________.

► Revenue

► Variable costs

► Expenses

► Stability

www.vuaskari.com


Which of the following is involved in decisions such as: what country to enter in, how to enter, how to adopt their product and services and how to price?

► Consumer markets

► Business markets

► Global markets

► Non profit markets


If an NGO purchases furniture for its office, it is purchasing a(an):

► Consumer good

► Consumer service

► Industrial good

► Industrial service


The want satisfying power of a product or service is known as a/an:

► Desire

► Need

► Utility

► Motive


Factors of broad environment directly affect the:

► Economic environment

► Task environment

► Cultural environment

► Technological environment


While writing the marketing plan, the analysis of company’s own resources comes under which of the following section of marketing plan?

► Macro environment

► Market analysis

► Consumer analysis

► Internal environment analysis

b) Current Situation - Market Analysis

Indeed, market situation must be taken into account in all details and carefully studied. Market definition, Market size, Market Segmentation, Industry Structure and strategic groupings, Competition and market share, Competitors' Strengths and Weaknesses and Market Trends must be carefully studied and analyzed.

This will give us t


The firm objective in the introductory stage of the product life cycle is to:

► Extend the cycle as long as possible

► Improve warranty terms and service availability

► Emphasize market segmentation

► Stimulate demand for the product


The majority of firms enter in a particular market during the:

► Introduction

► Growth

► Maturity

► Decline


Which of the following come(s) under the category of new product?

► New product lines

► Product improvements

► Cost reductions

► All of the given options


Suppose Nestle wants to expand its food products line. The managers conducted surveys from customers to determine which food items would appeal to customers. Nestle is currently in which of the following phase of new product development? www.vuaskari.com

► Idea generation

► Idea screening

► Test marketing

► Business analysis

• Idea Screening

o eliminate unsound concepts

o must ask three questions:

� will the target market benefit from the product

� is it technically feasible to manufacture the product

� will the product be profitable


The stage in the adoption process that has been reached when an individual becomes sufficiently involved with a new product to begin to seek information about it is called:

► Awareness

► Evaluation

► Interest

► Trial

TRIAL: the consumer tries the product to estimate the value of innovatio


Based on pricing objectives, a general guideline that is intended for use in specific pricing decision is called:

► A product line

► A pricing policy

► A strategic pricing

► An objective pricing


The consumer’s perception of prices such as Rs. 5.95 and Rs. 6.99 is that these prices are:

► Regular retail prices

► Wholesale prices

► Competitive prices

► Discount prices


Which of the following is the traditional pricing objective?

► Increase market share

► Maximize profits

► Meet competitors’ prices

► Increase market growth


A supermarket advertises sugar and coffee at very low prices with the objective of attracting customers who will buy other high profit items. This is called: www.vuaskari.com

► Product line pricing

► Multiple unit pricings

► Odd pricing

► Loss leader


The marketing plan is one of the most important outputs of: ► Business plan ► Marketing process ► Production process ► Selling plan A marketing plan may be part of an overall Business Plan. Question No: 2 ( Marks: 1 ) - Please choose one

A market leader firm can expand the total market through:www.vuaskari.com ► Decreasing distribution of the product ► Introducing the new usage of the product ► Eliminating some features of product ► Increasing cost Question No: 3 ( Marks: 1 ) - Please choose one

Which of the following are the products bought by individuals and organizations for further processing or for use in conducting a business? ► Specialty ► Industrial ► Shopping

► Consumer Industrial Products: used in the production of other goodQuestion No: 4 ( Marks: 1 ) - Please choose one

The high cost, low sales volume and losses are likely to occur at the: ► Decline stage ► Introduction stage ► Maturity stage ► Growth stage 2. Market introduction stage • Cost high • Sales volume low • LossesQuestion No: 5 ( Marks: 1 ) - Please choose one

Aggressive pricing is associated with which of the following stage of product life cycle? ► Introduction ► Growth ► Maturity ► Decline 3. Growth stage • Costs reduced due to economies of scale • Sales volume increases significantly • Profitability • Prices to maximize market sharQuestion No: 6 ( Marks: 1 ) - Please choose one

Which of the following is the leak-proof packaging that provides additional protection for the primary container? www.vuaskari.com

► Primary packaging ► Secondary packaging ► Transport packaging ► Decorative packaging Question No: 7 ( Marks: 1 ) - Please choose one

Packaging used for the ice creams is an example of which of the following?

► Decorative packaging ► Transport packaging ► Secondary packaging ► Primary packaging Question No: 8 ( Marks: 1 ) - Please choose one

Which of the following marketing mix element generates revenue? www.vuaskari.com

► Promotion ► Price ► Place ► Product


The buyer at ABC Furniture Store is informed that if he/she will increase his/her recent order of fifteen mattress sets to twenty, she will receive a 14 percent price reduction. This offer is due to a recent overstock condition at the factory and will not be available in the future. What is the type of discount offered by ABC Furniture store? ► Trade ► Seasonal ► Non-cumulative ► Promotional 3) Trade discounts (also called functional discounts) – These are payments to distribution channel members for performing some function . Examples of these functions are warehousing and shelf stocking. Trade discounts are often combined to include a series of functions, for example 20/12/5 could indicate a 20% discount for warehousing the product, an additional 12% discount for shipping the product, and an additional 5% discount for keeping the shelves stocked. Trade discounts are most frequent in industries where retailers hold the majority of the power in the distribution channel (referred to as channel captains).Question No: 10 ( Marks: 1 ) - Please choose one

BATA offered 10% discount on the sale of shoes at the end of winter season. What can be the purpose of giving such discount? ► Reward the customers ► Move- out- of- date stock ► Encourage the salespeople ► To increase short term sales Question No: 11 ( Marks: 1 ) - Please choose one

Which of the following is also known as accumulation discounts? ► Trade discount

► Non-cumulative quantity discount ► Cumulative quantity discount ► Quantity discount •Cumulative quantity discounts (also called accumulation discounts). These are price reductions based on the quantity purchased over a set period of time. The expectation is that they will impose an implied switching cost and thereby bond the purchaser to the seller.Question No: 12 ( Marks: 1 ) - Please choose one

Many companies try to set a price that will maximize current profit. This strategy assumes that company has knowledge of its: www.vuaskari.com ► Cost and production function ► Revenue and cost function ► Demand and market function ► Demand and cost function Question No: 13 ( Marks: 1 ) - Please choose one

Companies that are involved in selling mass consumer goods and services are found in which of the following markets? ► Business markets ► Consumer markets ► Global markets ► Government markets CONSUMER MARKETS Selling of mass consumer goods and services such as soft drinks, tooth pastes, TV sets etc. Great time is spent in establishing superior brand image to be successful in consumer product marketing. It requires clear understanding of target consumers, the product, which meets their needs, communicating brand positioning more forcefully and creatively etc. All this will help them establish number one or two positionQuestion No: 14 ( Marks: 1 ) - Please choose one

Which of the following 4Ps of marketing mix involves in decisions regarding channels coverage, assortments, locations, inventories or transports?

► Product ► Price ► Place ► Promotion Question No: 15 ( Marks: 1 ) - Please choose one

While considering the place for a product which of the following is important for customer? www.vuaskari.com

► Communication ► Convenience ► Customer cost ► Customer solution Question No: 16 ( Marks: 1 ) - Please choose one

Which of the following is NOT a technique of measuring customer satisfaction and monitoring customer’s complaint? ► Customer complaints database ► Web and telephone information hotlines ► Exit interviews

► Business analysis Business Analysis o estimate likely selling price o estimate sales volume o estimate profitability and breakeven poinQuestion No: 17 ( Marks: 1 ) - Please choose one

A customer requirement about any product in which he/ she needs to avail core features in that product, is called:

► Real need ► Stated need ► Unstated need ► Delighted need b. Real need (wants a car which is lower in maintenance)Question No: 18 ( Marks: 1 ) - Please choose one

Marketing starts with which of the following 4Ps?


In which section of the marketing plan you would find the detailed information about the marketing environment, market trends, customers and competitors? ► Situation analysis ► Product/market background ► Marketing strategies ► Market analysis 4. Summary of Situation Analysis External threats, external opportunities, internal strengths, internal weaknesses, key success factors in the industry, our sustainable competitive advantage, marketing research etc must be carefully understood and analyzed. Information requirements, research methodology and research results must be carefully ascertained at this stage and carried outQuestion No: 20 ( Marks: 1 ) - Please choose one

Which of the following is NOT an option available for market leaders? ► Reduce the product quality ► Improve customer service ► Protect the existing market share ► Expand the total market Question No: 21 ( Marks: 1 ) - Please choose one

Especially for which type of products the marketers should view packaging as a major strategic tool? www.vuaskari.com ► Convenience products ► Consumer shopping products ► Industrial products ► Specialty products Question No: 22 ( Marks: 1 ) - Please choose one

When a firm or store offers a price reduction to customers who buy during off-peak periods throughout the year, we say the firm is giving a(n) _____ discount. ► Functional ► Seasonal ► Annual ► Allowance Question No: 23 ( Marks: 1 ) - Please choose one

The want satisfying power of a product or service is known as a/an:

► Desire ► Need ► Utility ► Motive Question No: 24 ( Marks: 1 ) - Please choose one

In a television advertisement a group of teenagers is searching for some cold drinks to quench their thrust. In their searching they find a shop and they purchase the soft drinks. The selection of cold drink appeals to consumers’ _________ for liquid and attempts to shape consumers’ _________ for the advertised product.

► Needs, preferences ► Wants, needs ► Needs, wants ► Want, preference www.vuaskari.comQuestion No: 25 ( Marks: 1 ) - Please choose one

Which of the following is the part of implementation section of marketing plan?

► Critical path analysis ► Physical distribution ► Competitor indexing ► Brand equity Question No: 26 ( Marks: 1 ) - Please choose one

These objectives are often the most suitable when firms operate in a market dominated by a major competitor and where their financial resources are limited.

► Niche ► Hold ► Harvest ► Diversification Help prepare for the sale of the business (harvesting)Question No: 27 ( Marks: 1 ) - Please choose one

Suppose Nestle wants to expand its food products line. The managers conducted surveys from customers to determine which food items would appeal to customers. Nestle is currently in which of the following phase of new product development?

► Idea generation ► Idea screening ► Test marketing ► Business analysis Question No: 28 ( Marks: 1 ) - Please choose one

As a marketer you want to use lower than normal prices as an ingredient in your firm’s marketing strategy. The technique you would use is: ► Price lining ► Zone pricing ► Relative pricing ► Promotional pricing Question No: 29 ( Marks: 3 )

Why price war is not beneficial for small companies? Answer:Price was is state of intense competition over the price of product

One competitor reduce the price other will lower its price to match and then a cycle of price reduction starts. Which can leads of selling of product below the cost.

Normally smaller companies cannot compete and shut down.

Question No: 30 ( Marks: 3 )

Explain how Marketers can prolong the lives of many products in the maturity or decline stages of the PLC? Also how can they move those products back to their growth stage? Answer:

In the decline stage of the marketing product development cycle, owners reduce or stop marketing efforts and expenses. The plan is to lower the marketing efforts while your competitors discontinue theirs.

If you keep selling the product while your competitor stop selling, then you can get the market share which your competitor left. www.vuaskari.com


Describe quantity discounts and its types.

It is discount normally give on buying at large scale. Idea behind that is if we sell more we can achieve the economy of scale and that benefit we can share with our customers.Answer:

There are two type of two Types of Quantity Discounts

Cumulative: This discount is based on the items purchased over the period of time. Like with in month we have to purchase this much quantity for the entailment of discount.

No cumulativeIt is based on the single bulk order buying. Idea behind that discount is that we can save the shipping, billing , sales personal expenses.


The first step in the product development process is generation of ideas. Discuss what are the internal and external sources of ideas? Why external sources are considered to be the more important than internal source?Answer:Every new product development starts with idea generation. Idea generation is process to produce large number of idea are produce. It should be ongoing process. During idea one should not criticize the ideas of others.Following are few ways for idea generation

Brainstorming session: In this whole team participate and everyone can give any idea there will b no criticism on any idea. Idea can be obtained by basic research and SWOT analysisIdea can be obtained from customers.RetailersFocus groups.Trade shows


Which of the following has the largest market share in the relevant product market? ► Market leader ► Market challenger ► Market nicher ► Market follower www.vuaskari.com Market Leader The market leader is dominant in its industry. It has substantial market share and often extensive distribution arrangements with retailers. It typically is the industry leader in developing innovative new business models and new products (although not always). It sometimes has some market power in determining either price or output.Question No: 2 ( Marks: 1 ) - Please choose one

Which of the following attacks the vulnerable part of a competitor? ► Market leader ► Market challenger ► Market nicher ► Market follower Market Challenger A market challenger is a firm in a strong, but not dominant position that is following an aggressive strategy of trying to gain market share. It typically targets the industry leader (for example, Pepsi targets Coke), but it could also target smaller, more vulnerable competitors.Question No: 3 ( Marks: 1 ) - Please choose one

Presenting the product concept to appropriate target consumers and getting their reactions, describes which of the following options? ► Concept development ► Concept testing ► Commercialization ► Concept trial • Concept Development and Testing o develop the marketing and engineering details � who is the target market � what benefits will the product provide � how will consumers react to the product � how will the product be produced � what will it cost to produce it

o test the concept by asking a sample of prospective customers what they think of the ideaQuestion No: 4 ( Marks: 1 ) - Please choose one

Which of the following is the spread of idea from the source of invention to the ultimate user or consumers?

► Innovation adoption process ► Innovation diffusion process ► Adoption process ► New product recognition STAGES OF CONSUMER ADOPTION PROCESS Let us first take a look at the INNOVATION DIFFUSION theory. An innovation refers to anything perceived by some one as new. It may have a long history of innovating product. But in true sense its an Innovation to the person, who sees it and it is he who spreads it through a social system. INNOVATION DIFFUSION PROCESS has been defined as “The spread of idea from the source of invention or creation to the ultimate user or consumers”. Consumer Adoption Process focuses on the mental process through which an individual goes through from first hearing about the innovation to the final stage of adoptionQuestion No: 5 ( Marks: 1 ) - Please choose one

Gift baskets are the example of which one of the following types of packaging? ► Decorative ► Secondary ► Shipping ► Primary www.vuaskari.comQuestion No: 6 ( Marks: 1 ) - Please choose one

Which of the following is NOT a use of secondary packaging? ► It is recyclable and environmentally safe ► It facilitates transportation, storage, and handling for middlemen ► It can not be reused for purposes other than its initial use ► It can be used as a promotional tool Question No: 7 ( Marks: 1 ) - Please choose one

Which of following is an example of corporate brand? ► Rafhan foods ► Knorr ► National foods ► Mercedes When a company's name is used as a product brand name, this is referred to as Corporate brandingQuestion No: 8 ( Marks: 1 ) - Please choose one

Which of the following is also called as prestige price? www.vuaskari.com ► Skimming price ► Penetration price

► Psychological price ► Premium price


Which of the following price will be used for the heart pacemaker? ► Skimming price ► Penetration price ► Psychological price ► Premium price Question No: 10 ( Marks: 1 ) - Please choose one

A book shop has arranged a book fair and offered 20% discount on all types of books. What will be the purpose of offering the discount? ► Reward the customers ► Move- out- of- date stock ► Encourage the salespeople ► To increase short term sales Question No: 11 ( Marks: 1 ) - Please choose one

Which of the following is the effect of low price? www.vuaskari.com ► Reduction in market share ► Reduction in production ► Increase in profit margin ► Reduction in profit margin Question No: 12 ( Marks: 1 ) - Please choose one

Which of the following markets involve buying and selling of goods for their utility and enabling them to make or re-sell a product to others?

► Global markets ► Government markets ► Consumer markets ► Business markets Question No: 13 ( Marks: 1 ) - Please choose one

Which one of the following 4Ps of marketing mix involves in decisions regarding list prices, discounts, allowances and payment periods or credit terms? ► Product ► Price ► Place ► Promotion Question No: 14 ( Marks: 1 ) - Please choose one

While considering the place for a product which of the following is important for customer? www.vuaskari.com

► Communication ► Convenience ► Customer cost ► Customer solution Question No: 15 ( Marks: 1 ) - Please choose one

Identify which one is an ancillary service.

► Delivery ► Promotion ► Labeling ► Packaging The offering of ancillary services like credit availability, delivery, installation, and warrantyQuestion No: 16 ( Marks: 1 ) - Please choose one

Which of the following is NOT a part of a broad environment?

► Economy ► Corporate culture ► Technology ► Demographics Broad environment consists of; demographic, natural, economic, technological, political-legal and sociocultural environmenQuestion No: 17 ( Marks: 1 ) - Please choose one

Marketing starts with which of the following 4Ps? www.vuaskari.com


Which of the following is NOT included in the financial summary of a marketing plan? ► Pro-forma income statement ► Month-by-month agenda ► Breakeven analysis ► Assumptions Question No: 19 ( Marks: 1 ) - Please choose one

When a firm or store offers a price reduction to customers who buy during off-peak periods throughout the year, we say the firm is giving a(n) _____ discount. ► Functional ► Seasonal ► Annual

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

“The future isn’t ahead of us, it has already happened”. This sentence is closely related to which of the following concept of marketing?

► Marketing Mix ► Marketing for the millennium ► New advancement in marketing ► Marketing research and innovation Question No: 21 ( Marks: 1 ) - Please choose one

If an NGO purchases furniture for its office, it is purchasing a(an):

► Consumer good ► Consumer service ► Industrial good ► Industrial service Question No: 22 ( Marks: 1 ) - Please choose one


► Critical path analysis ► Physical distribution ► Competitor indexing ► Brand equity Commercialization o launch the product o produce and place advertisements and other promotions o fill the distribution pipeline with product o critical path analysis is useful at this stagQuestion No: 23 ( Marks: 1 ) - Please choose one

Which of the following is NOT an aggressiveness strategy with regards of marketing strategies? www.vuaskari.com

► Harvesting ► Building ► Intensification ► Holding • Horizontal Integration o vertical integration o diversification (or conglomeration) o intensificationQuestion No: 24 ( Marks: 1 ) - Please choose one

A Company wants to create awareness about the features and befits of their products in the market. Which of the following decisions are important to achieve this goal?

► Price decisions ► Place decisions ► Promotion decisions ► Product decisions Question No: 25 ( Marks: 1 ) - Please choose one

Profits begin to decline during which of the following stage?

► Introduction ► Growth ► Maturity ► Decline Question No: 26 ( Marks: 1 ) - Please choose one

Which of the following step involves determining the compatibility of product with company’s objectives and resources on a general level? www.vuaskari.com

► Idea generation ► Idea screening ► Product development ► Business analysis Idea Screening o eliminate unsound concepts o must ask three questions: � will the target market benefit from the product � is it technically feasible to manufacture the product � will the product be profitablQuestion No: 27 ( Marks: 1 ) - Please choose one

The degree to which innovation is consistent with the values and experiences of potential adopters is the characteristics of innovation referred to as:

► Communicability ► Complexity ► Divisibility ► Compatibility


The most commonly used method of setting prices today is:

► Marginal analysis pricing ► Cost plus pricing

► Full cost pricing ► Break even pricing Question No: 29 ( Marks: 3 )

Suppose a consumer product is at its maturity stage and as a marketing manager you are assigned a task to suggest some strategies which company can adopt to increase the sales volume at this stage. What strategies will you suggest at this stage to increase the profit margins of the company?Answer:As a marketing manager I’ll suggest the following strategies

1- Reduction in publicity as product is mature and customers know it2- Reduction in price because of economies of scale3- Discounts and allowances4- Efficient distribution channels


Why do companies use discounts and allowances? Answer: Companies use discounts and allowances for various reasons some of them are

1- To give reward to loyal customers 2- For short-term profit or market gain3- To finish out-of-season stock4- To make product prominent


Packaging can increase the sales of products but it can act vice versa as well. Explain it with examples.Answer:Packaging is very important element in marketing mix. The objectives and goals of packaging are many.Mostly good packaging enhance product sale. But if packaging are not done with planning or care then it can sabotage all the effort. Because mostly packaging is done for the safety of the product and its transportation purposes. Suppose if the box or carton in which a perishable product is enclosed it leaks then what will be the impression of that product on customers. It will defame the product and company/brand. The objectives that are gotten by packaging and labeling are

1- Safety2- Agglomeration3- Information4- Advertising through labeling5- Marketing by attractive packaging


Why price is considered to be one of the most flexible elements of the marketing mix? Explain what are the factors that can influence the price of any product?Answer:Price is considered the most flexible thing in marketing mix because it helps to achieve strategic as well as business goals and objectives like

1- Profitability (to achieve business/financial objectives)2- To adjust price according to customer purchasing power(are customers able to

purchase at this price)3- For market positioning www.vuaskari.com

Factors that can influence the price of any product:Following factors influence the price decisions

1- Marketing strategic objectives2- Current Market/economic situation3- Customer’s purchasing power4- Cost of the product5- The decision of what pricing strategy you want to adopt e.g. cost plus profit,

premium price etc.6- The objectives of the product or brand7- Available resources8- Distribution channels and their relative cost


A market leader firm can expand the total market through:

► Decreasing distribution of the product ► Introducing the new usage of the product ► Eliminating some features of product ► Increasing cost Question No: 2 ( Marks: 1 ) - Please choose one

Highest percentage of ideas for new products originates with/from which of the following sources? ► Top management ► Customers ► Competitors ► Employees Question No: 3 ( Marks: 1 ) - Please choose one

How many stages are there in the new product development process? www.vuaskari.com ► Six ► Seven ► Nine ► Eight


All of the following are the sources of idea for new product development EXCEPT: ► Government agencies ► Competitors ► Suppliers ► Customers sources of new-product ideas include internal sources, customers, competitors, distributors and suppliers, and othersQuestion No: 5 ( Marks: 1 ) - Please choose one

Which of the following is essential requirement for medicines and drugs? ► Secondary packaging ► Primary labeling ► Decorative packaging ► Mandatory labeling MANDATORY LABELING Mandatory labeling is the requirement of consumer products to state their ingredients or components. Moral purchasing and avoidance of health problems like allergies are two things which are enabled by labeling. It is mandated in most developed nations, and increasingly in developing nations, especially for food products. With regard to food and drugs, mandatory labeling has been a major battleground between consumer advocates and corporations since the late 19th century.Question No: 6 ( Marks: 1 ) - Please choose one

When a company’s name is used as a product brand name, this is referred to which of the following?

► Economy brand ► Fighting brand ► Corporate brand ► Premium brand. When acompany's name is used as a product brand name, this is referred to as corporate branding.


Often a very strong brand name or company name used for a range of products is known as: www.vuaskari.com ► Brand development ► Multi branding ► Individual branding ► Family branding

When one brand name is used for several related products, this is referred to as Family brandingQuestion No: 8 ( Marks: 1 ) - Please choose one

All of the following are true about price EXCEPT: ► Price is independent of the other elements of the marketing mix ► Price is the monetary value of a product ► Price is most flexible tool in the marketing mix ► Price is marketing mix element which produces revenue Question No: 9 ( Marks: 1 ) - Please choose one

A company wants prompt payment from the customers. What type of discount will be suitable for the company? www.vuaskari.com ► Seasonal discount ► Trade discount ► Quantity discount ► Cash discount TYPES OF DISCOUNTS AND ALLOWANCES The most common types of discounts and allowances are: 1) Cash discounts for prompt payment - These are intended to speed payment and thereby provide liquidity to the firm. They are sometimes used as a promotional device. Question No: 10 ( Marks: 1 ) - Please choose one

Which of the following is NOT a technique of measuring customer satisfaction and monitoring customer’s complaint? ► Customer complaints database ► Web and telephone information hotlines ► Exit interviews ► Business analysis





All are the expression of marketing concept EXPECT:

► Meeting needs profitably ► Find wants and fill them

► Sell what is produced ► Love the customer, not the product Question No: 12 ( Marks: 1 ) - Please choose one

Order processing decisions are related to which of the following? ► Product ► Price ► Distribution ► Promotion Distribution (Place) Decisions Distribution is about getting the products to the customer. Some examples of distribution decisions include: • Distribution channels • Market coverage (inclusive, selective, or exclusive distribution) • Specific channel members • Inventory management • Warehousing • Distribution centers • Order processing • Transportation • Reverse logisticQuestion No: 13 ( Marks: 1 ) - Please choose one

Identify the major components of the microenvironment. ► Company, suppliers, , customer markets, political forces, competitors and intermediaries ► Company, suppliers, intermediaries,technological forces , competitors and customer markets ► Company, suppliers, intermediaries, customer markets, competitors, and social forces ► Company, suppliers, intermediaries, customer markets, competitors, and publics

The microenvironment refers to the forces that are close to the company and ... itssuppliers, marketing intermediaries, customer markets, competitors, and publics


An advertising company’s ownership of radio, television and newspapers is an example of:

► Backward vertical integration ► Forward vertical integration ► Horizontal integration ► Vertical integration Forward vertical integration means buying out a customer (e.g. the car manufacturer .... such astelevision, newspapers, magazines, cinema or radio

• In forward vertical integration, the company sets up subsidiaries that distribute or marketproducts to customers or use the products themselves. An example of this is a movie studio that also owns a chain of theatersQuestion No: 15 ( Marks: 1 ) - Please choose one

Which of the following are the value maximizers for the organization?

► Customers ► Sellers ► Marketers ► Manufacturers Customers are value-maximizers. They form an expectation of value and act on it.Question No: 16 ( Marks: 1 ) - Please choose one

Marketing management is a broader term and it covers which of the following? ► Marketing mix management ► Demand management ► Marketing process management ► All of the given options Question No: 17 ( Marks: 1 ) - Please choose one

In a television advertisement a group of teenagers is searching for some cold drinks to quench their thrust. In their searching they find a shop and they purchase the soft drinks. The selection of cold drink appeals to consumers’ _________ for liquid and attempts to shape consumers’ _________ for the advertised product. www.vuaskari.com

► Needs, preferences ► Wants, needs ► Needs, wants ► Want, preference Question No: 18 ( Marks: 1 ) - Please choose one

Which of the following is the unique combination of benefits received by targeted buyers that includes quality, price, convenience, on time delivery, and both before sale and after sale service. ► The marketing concept ► Customer value ► The price-quality trade off ► Customer relationship management http://highered.mcgraw-hill.com/sites/0072828803/student_view0/chapter1/multiple_choice_quiz_a.html


Marketing programs are most closely related to:

http://highered.mcgraw-hill.com/sites/0072828803/student_view0/chapter1/multiple_choice_quiz_a.html



► Customer relationship management ► The marketing mix ► The four utilities ► Customer value Question No: 20 ( Marks: 1 ) - Please choose one


► Critical path analysispage no 28 ► Physical distribution ► Competitor indexing ► Brand equity Question No: 21 ( Marks: 1 ) - Please choose one

Which of the following is NOT an aggressiveness strategy with regards of marketing strategies?

► Harvesting ► Building ► Intensification page no 18 ► Holding Question No: 22 ( Marks: 1 ) - Please choose one

Which of the following goods are purchased by customers after comparisons of competing goods available in stores on the basis of price, quality, style and colors?

► Specialty goods page no 25 ► Shopping goods ► Impulse goods ► Convenience goods Question No: 23 ( Marks: 1 ) - Please choose one

Diversification is best described as which of the following? ► Existing products in new markets ► Existing products in existing markets ► New products for new markets ► New products Question No: 24 ( Marks: 1 ) - Please choose one

One of the benefits of test marketing is,

► It saves on segmentation efforts to individual consumer ► It saves on total competitive advertising and promotional expenditures ► It can save the company from greater potential loss and embarrassment page no 27 ► It is long run rather than short run planning www.vuaskari.com


Which of the following are the opinion leaders in their community and adopt new products early but carefully?

► Early adopters ► Early majority page#34 ► Late majority ► Innovators ref.Secondly Early Majority. They are very careful people and take time to adopt things. They tend to collectinformation about the change or the product, study carefully and then adopt on the basis of their merits.Question No: 26 ( Marks: 1 ) - Please choose one

ABC Company sells the right to use their brand name by other companies for non-competing products, the company is following:

► Brand licensing page#38 ► Co-branding ► Family branding ► Individual branding ref. When a company sells the rights to use a brand name to another company for use on a non-competingproduct or in another geographical area, this is referred to as Brand licensing.


As a marketing manager, you decide to use psychological pricing as a straegy in pricing your firm’s products. He pricing procedure you decide upon is:

► Odd pricing page#40 ► Competitive pricing ► Unit pricing ► Trade in pricing Question No: 28 ( Marks: 1 ) - Please choose one

A trade discount is also known as: www.vuaskari.com ► Cash discount ► Seasonal discount ► Quantity discount ► Functional discount

3) Trade discounts (also called functional discounts) –



By Admin Binish Awais

midterm examination mkt501- marketing management fall...

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