MGT301 Principles of Marketing Solved MCQs from Quiz # 05
A distinguishing feature of a contractual VMS (vertical market system) is the coordination and conflicts among the independent members of the channel are attained through _____.
Select correct option:
Oral agreements
Working partnerships
Natural competitive forces
The objective of which of the following research is to gather preliminary information that helps to better define problems and suggest hypotheses for their solution?
Select correct option:
Descriptive research
Casual research
Observational research
Current view holds that salespeople should be concerned with producing customer satisfaction and company profit. So whom do they NOT generally serve?
Select correct option:
They represent the company to customers
They represent the company to investors
They represent the customer to the company
None of the above
All of the Ahmad’s friends try to copy his style, his dressing and the way he speaks. He is also considered as one of the most reliable person in the group. Ahmad is regarded as a/an:
Select correct option:
Group member
Group Moderator
All of the given options
Bunny bread is mostly used in breakfast times in different areas ofLahore. Manufacture of Bunny bread has made this for all type of customers ranging from housewives to children and teens to old people. Bunny bread is using which of the following market coverage strategy?
Select correct option:
Undifferentiated
Concentrated
None of the given option
Buy it now” refers to which one of the following options?
Select correct option:
Advertising
Sales promotion
Publicity
Following activities are the part of marketing process EXCEPT which of the following?
Select correct option:
Analyzing marketing opportunities
Selecting target markets
Developing the business portfolio
Managing the marketing effort
The marketing process consists of four steps: analyzing market opportunities; developing marketing strategies; planning marketing programs, which entails choosing the marketing mix (the four Ps of product, price, place, and promotion); and organizing, implementing, and controlling the marketing effort.
At least how many parties should be included in “Exchange”?
Select correct option:
Three
Four
Five
The buyer decision process consists of five stages. Which of the following is NOT one of these stages?
Select correct option:
Evaluation of Alternatives
Information search
Variety-seeking buying behavior
Post purchase behavior
It is a buying behavior not the process of buying decision making.
Publics including workers, managers, volunteers and the board of directors show which of the following publics?
Select correct option:
Citizen-action publics
Local publics
General publics
Internal publics include everyone who is an integral part of the organization. Employees are the most obvious and most numerous internal publics.
Planning that involves developing a strategy to meet competition and ensure long-term survival and growth” represents which one of the following planning types
Select correct option:
Long-range planning
Short-range planning
Annual planning
If ABC Company observes all compact disc customers as pretty much alike and thus offered only one marketing mix, it would be using which of the following approach?
Select correct option:
Heterogeneous
Differentiated
Concentrated
Undifferentiated marketing - Sometimes referred to as mass marketing the firm may decide to aim its resources at the entire market with one particular product. Coca Colas original marketing strategy was based on this form.
What is the purpose of intranets?
Select correct option:
Buying and selling processes
Business-to-business purchasing
Maintaining customer relations
ABC Company got the 2 new ideas regarding its XYZ product from customers. One idea is to develop a new version of product which is suitable for only elite classes and caters a small segment of market. Other idea is to make ingredients of product better to acceptable to a mass market at affordable price. ABC Company is in which stage of product development?
Select correct option:
Idea Generation
Concept Development
Product Development
Idea screening reduces the number of ideas pooled during idea generation– by spotting good ideas and dropping poor ones.
Nestle company is dealing in large number of products like milk, mineral water, juices, dairy creams and ghee. These products are called:
Select correct option:
Profit portfolio
Business portfolio
Market portfolio
Product portfolio refers to the range of products manufactured or supplied by an organization.
In summer season, WAPDA used to place ads on the electricity bill to promote the less usage of electricity. In Marketing Management perspective what is this called?
Select correct option:
Demand Management
De-marketing
Electricity Management
Definition of Social marketing:
“Social marketing seeks to influence social behaviors not to benefit the marketer, but to benefit the target audience and the general society."
Provide more quality products and services without variation in the quality” refers to which of the following marketing functions?
Select correct option:
Transporting
Storing
Selling
Handouts: Page no.13
During the new product development process, the creation of a large pool of ideas for potential new products is the primary goal of which one of the following steps?
Select correct option:
Idea screening
Concept development
Prototype development
Which one of limited services wholesalers don’t carry or handle the product:
Select correct option:
Cash and carry wholesalers
Truck wholesalers
Rack jobbers
You are planning to install a steel manufacturing plant in your city. For that purpose you want to have a supplier who supplies you the steel in raw form for manufacturing. Here supplier supplies you which of the following form of industrial product?
Select correct option:
Capital items
Supplies and services
None of the given options
Which promotion mix ingredient costs considerably more than advertising to reach one person but can provide more immediate feedback?
Select correct option:
Publicity
Sales promotion
Public relations
The cost of reaching one person through personal selling is considerably more than through advertising, but personal selling efforts often have greater impact on customers.
Setting low prices to encourage initial product trial and to generate sales growth reflects which one of the following pricing method?
Select correct option:
Skimming pricing
Competition-Based Pricing
Cost-Based Pricing
Penetration Pricing is a strategic move where a certain product of an organization is introduced to the market in an undeniably lower price value compared to the regular prices of this product in the market. One of the main goals of this strategy is to attract buyers or consumers to try this new product and likewise to promote it to the users in order to increase its demand.
Mr. A's girlfriend tells him she wants jewellery for Christmas. He decides to go to a store that provides the best possible selection of jewellery. His best choice would be to shop at a ________ store.
Select correct option:
Department
Discount
Convenience
There are __ ways through which the organizations change their prices to meet the change in demand of a product.
Select correct option:
1
2
4
5
Gillette was the first marketer of disposable razors to offer a product specifically designed for men. This is an example of segmentation using which of the following variables?
Select correct option:
Psychographic
Geographic
Product use
Whether the price raised or lowered, the action will affect on:
Select correct option:
Buyers
Competitors
Competitors
Whether the price is raised or lowered, the action will affect buyers, competitors, distributors, and suppliers and may interest government as well.
If Proctor and Gamble, the makers of Ariel, need to know what percentage of customers examines product labels before making a product selection in the supermarket? By which method this study would be accomplished?
Select correct option:
Focus groups
Mail surveys
Personal interviews
Annual licensing fees and monthly rent for a day care center are examples of which one of the following costs?
Select correct option:
Variable costs
Derived costs
Total costs
In which strategy company spend a lot on advertising and consumer promotion to build up consumer demand, if successful then consumer will ask their retailers for the product, the retailer will ask the wholesalers and wholesalers will ask the producers.
Select correct option:
Positioning Strategy
Push Strategy
Segmentation Strategy
Pull strategy is the promotional strategy that calls for spending a lot on advertising and consumer promotion to build up consumer demand; if successful, consumer will ask their retailers for the product, the retailer will ask the wholesalers and wholesalers will ask the producers.
Most of fast moving consumer goods (FMCG) companies are using _____ for the distribution of their products.
Select correct option:
Exclusive Distribution
Selective Distribution
None of above
Intensive Distribution:
- Distribution through every possible outlet…..FMCG
If a company raises its price per unit, but keeps total fixed cost and variable cost per unit the same, the break-even point will be lower.
Select correct option:
False
As a simple mathematical identity, raising prices increases contribution per unit, which lowers the number of units required to break even.
“How are you telling consumers in your target group about your product” This question belongs to which marketing concept?
Select correct option:
Product
Price
Place
Which of the following is NOT an internal factor while setting the price of a new product?
Select correct option:
Marketing Strategy
Objectives
Marketing Mix
All of the above are the internal factors for setting a price for new product.
For a day care center, disposable diapers, juice boxes, cleaning supplies and electricity are examples of which one of the following costs?
Select correct option:
Fixed costs
Derived costs
Total costs
Which one of the following is suspicious of change and adopts only after the product is no longer considered an innovation?
Select correct option:
Late majority
Early Adopter
Early Majority
Laggards: This group is suspicious of change and adopts only after the product is no longer considered an innovation.
Economic factors focus on which one of the following concepts?
Select correct option:
Bureaucracy
Behavioral pattern
Stability of government
Hybrid marketing channels are also known as
Select correct option:
Vertical Marketing Systems
Horizontal Marketing Systems
Multinational Distribution Systems
None of above
In the past, many companies used a single channel to sell to a single market or market segment. Today, with the proliferation of customer segments and channel possibilities, more and more companies have adopted multichannel distribution systems—often called hybrid marketing channels.
When a toy manufacturer advertises a product on Saturday-morning television and tells children to ask for the product at their favorite toy shops, it is implementing which one of the following policies from its promotion mix?
Select correct option:
Differentiated
Penetration
Push
An MIS consists of people, equipment, and procedures to gather, sort, ___, evaluate, and distribute information to marketing decision makers.
Select correct option:
Test
Test market
Assesses
Which of the following three psychographic dimensions are MOST commonly used in market segmentation?
Select correct option:
Personality, perception and learning
Personality, perception and behavior
Motives attitudes and lifestyles
Personality, social class and lifestyles
Psychographics segmentation
It calls for dividing a market into different groups based on social class, lifestyle, or personality characteristics.
Which of the following is a way in which a firm can respond to the price change by the competitor?
Select correct option:
Reduce price
Reduce the quality
Improve the quality
Increase the price