Q1: Marketing managers are challenged by all of these problems, except
a. developing reasonable sales and market share goals
b. developing a targeted list of customers
c. developing reasonable product costs
d. how to differentiate their product
Answer
Answer: developing reasonable product costs
Q2: Which of the following best describes a marketing objective
a. a corporate vision and mission
b. a written definition or general intent or company position
c. the criterion by which the success or failure of the strategy is measured
d. a measurable evaluation of the business
Answer
Answer: a written definition or general intent or company position
Q3: Increased market share is not a good objective because
a. it is too challenging
b. it is not measurable
c. it doesn’t mention quality
d. it doesn’t assign responsibility
Answer
Answer: it is not measurable
Q4: All of the below are characteristics of good objective statements, except
a. should assign individual responsibility
b. should have a quantified standard of performance
c. should have a clear time frame
d. should be stated in measurable terms
Answer
Answer: should assign individual responsibility
Q5: For which of the following would marketing managers target a market penetration strategy
a. Individuals who have never used the product or service
b. Offshore customers who have a need for the product or service
c. Individuals who are buying your product or service or a direct competitor’s
d. Individuals who buy closely-related products or services
Answer
Answer: Individuals who are buying your product or service or a direct competitor’s
Q6: Which of the following best describes why marketing managers should pursue a market penetration strategy
a. There are always a large number of potential customers who have never purchased your product or service
b. They have purchased your products or services in the past and are familiar with its benefits
c. There are customers who don’t know about your product or service
d. There are customers who have an unmet need for your product or service
Answer
Answer: They have purchased your products or services in the past and are familiar with its benefits
Q7: Which best describes the realities of targeting competitors’ customers
a. It is easier to locate them because they are already buying the product or service
b. It is easier to sell them as they already know the advantages of the product or service
c. There is little loyalty among consumers and getting customers to switch is easy
d. It is riskier and more expensive to “steal” customers away from a competitor
Answer
Answer: It is riskier and more expensive to “steal” customers away from a competitor
Q8: In which Product Life Cycle phase is it easier to persuade a customer to switch to your product or service
a. introduction phase
b. growth phase
c. mature phase
d. decline phase
Answer
Answer: mature phase
Q9: A marketing manager uses all of these groups to give more focus to market segmentation decisions, except
a. existing customers
b. competitors’ customers
c. non-buying customers in currently targeted segments
d. most profitable customers in the largest segment
Answer
Answer: competitors’ customers
Q10: Which of the following best links the consumer and the marketer through information that can be used to identify marketing opportunities and problems
a. strategic marketing
b. consumer behavior
c. marketing research
d. personal selling
Answer
Answer: personal selling
Q11: The mission of the Market Research department is all of the following, except
a. gather information
b. analyze information
c. interpret marketing information
d. evaluate past promotional programs
Answer
Answer: evaluate past promotional programs
Q12: According to the text, all of the following are mentioned as major functions of marketing research, except
a. scanning for opportunities and threats
b. evaluate past promotional programs
c. risk assessment of future programs
d. monitoring of current programs
Answer
Answer: evaluate past promotional programs
Q13: Specifically, marketing research is most commonly used to
a. forecast the sales of existing and new products
b. refine new product concepts
c. understand competitors
d. all of the above
Answer
Answer: All of the above
Q14: The first step in the marketing research process is which of the following
a. defining the problem
b. determine the research objective
c. design a questionnaire
d. collect the data
Answer
Answer: defining the problem
Q15: Which of the following information sources already exist and were not developed for the particular problem at hand
a. primary
b. secondary
c. quantitative
d. qualitative
Answer
Answer: primary
Q16: Information sources that are generated for the particular problem being studied are best described as
a. primary
b. secondary
c. quantitative
d. qualitative
Answer
Answer: secondary
Q17: Marketing managers are well advised to consult___sources before embarking on major data collection process
a. primary
b. secondary
c. quantitative
d. qualitative
Answer
Answer: qualitative
Q18: Which of the following is an advantage of primary data collection
a. Data can be collected quickly to meet a manager’s needs
b. Data is tailored to the manager’s needs
c. Data is perhaps the most inexpensive among data collection methods
d. Data already exists for another study and is more accurate because it has already been analyzed
Answer
Answer: Data is perhaps the most inexpensive among data collection methods
Q19: All of the following are disadvantages of primary data collection, except
a. Data can be collected quickly to meet a manager’s needs
b. Data is tailored to the manager’s needs
c. Data is perhaps the most inexpensive among data collection methods
d. Data already existed for another study and is more accurate because it has already been analyzed
Answer
Answer: Data is perhaps the most inexpensive among data collection methods
Q20: A survival pricing objective aims to
(a). Covers fixed costs and some variable cost
(b). Selling at break even cost
(c). Obtain minimum profit
(d). Covers variable costs and some fixed cost
Answer
Answer: Obtain minimum profit
Q21: The first stage in product development is
(a). Business analysis
(b). Commercialization
(c). Screening
(d). Idea generation
Answer
Answer: Idea generation
Q22: Marketing Concept is best illustrated by which of the following marketing system goals
(a). Maximizing customer satisfaction
(b). Maximize choice
(c). Maximize consumption
(d). Maximize life quality
Answer
Answer: Maximizing customers satisfaction
Q23: Under globalization of Trade strategies, the markter will have to adopt
(a). Product differentiation
(b). Localisation
(c). Standardisation
(d). Reduction of cost
Answer
Answer: Product differentiation
Q24: In DELPHI method of Marketing Research, the opinion of
(a). The opinion consumers in DELHI are sought
(b). The Opinion of experts is sought
(c). The Opinion of DEALERS is sought
(d). The opinion of Dealers and Employees are sought
Answer
Answer: The Opinion of experts is sought
Q25: Problem recognition is —- process.
(a) One time
(b) One way
(c) Tedious
(d) Continuous
Answer
Answer d: Continuous
Q26: Factors influencing consumer buying
Answer
Answer: Cultural factors
Income and life style factors
Family influence
Q27: Marketing and selling are
Answer
Answer: Related to each other
Q28: Branding and Packing are done for
Answer
Answer: Consumer goods
Industrial products
Costly goods
Q29: Cost Plus Pricing is a method of
Answer
Answer: Marginal costing
Q30: Promotion of product is needed to
Answer
Answer: To sell a product
Q31: Convenience goods are items which consumers buy
Answer
Answer: Frequently with minimum shopping efforts
Q32: TQM in marketing refers to
Answer
Answer: Total quality management
Q33: Channels of distribution refers to
a. Group of people
b. Agents
c. Organizations
d. All of the above
Answer
Answer: d All the above
Q34: Marketers need upto date information in order to
Answer
Answer: Identify opportunities to market
Q35: The 4Ps marketing are
Answer
Answer: Product, price, promotion, place
Q36: When the physical product cannot be easily differentiated, the key to competitive success may lie in adding valued services and improving their quality termed one of the following
(a) Stalemated Industry
(b) Product Differentiation
(c) Volume Industry
(d) Service Differentiation
Answer
Answer: d Service Differentiation
Q37: Advertising is a process of
Answer
Answer: Communicating the customers
Q38: New product development activities are
Answer
Answer: Idea generation
Q39: Marketing means
Answer
Answer: Understanding the needs of customers
Q40: Identify the consumer product
Answer
Answer: Toothpaste
Q41: Product life cycle means
Answer
Answer: Describes the stages of product movement in the market
Q42: Penetration price policy means
Answer
Answer: Pricing a product at lower price for a moderate product
Q43: Shopping goods are
Answer
Answer: Customers buy at their convenience
Q44: Product line means
Answer
Answer: Arranging different products in one line
Q45: Market segmentation means
Answer
Answer: Breaking large market into smaller groups
Q46: Consumer buying process does not involve
Answer
Answer: Giving the product to a friend
Q47: External influence on consumer buying behavior is
Answer
Answer: Reference groups
Q48: Branding of a product is necessary
Answer
Answer: To identify a product
Q49: Targeting in marketing management refers to
Answer
Answer: Focusing marketing activities towards customers
Q50: Packaging should
a. Facilitate storage of goods
b. Protect and preserve the products
c. Be cost effective
d. All of the above
Answer
Answer d:All the above
Q51: Sales promotion produce
Answer
Answer: Positive effects on sales for short period
Q52: Advertising is
Answer
Answer: Develops a positive image of the product
Q53: On the basis of the status of sellers the markets are broadly classified into three categories: primary, secondary and ——- markets
Answer
Answer: Terminal
Q54: A marketing manager is not concerned with
Answer
Answer: Pricing of a product
Q55: Retailers are those who
Answer
Answer: Mediate and sell the products to customers
Q56: Societal concept of marketing means
Answer
Answer: Selling goods to consumer co-operatives
Q57: Low involvement products are
Answer
Answer: Low priced products frequently purchased
Q58: Selling means
Answer
Answer: Forcing customers to buy
Q59: Pricing means
Answer
Answer: None of these—Fixing the exchange value for a product or service
Adding sales tax to MRP
Adding discounts to selling price
Q60: Marketing refers to
(a) Developing a product and making people buy them
(b) Persuading consumers to buy the products
(c) Producing products and displaying them
(d) Understanding the needs of consumers and delivering them
Answer
Answer: d. Understanding the needs of consumers and delivering them
Q61: A survival pricing objectives aims to
Answer
Answer: Selling at break even cost
Q62: Warehousing and physical distribution functions are
Answer
Answer: Synergistically related activities which must be closely coordinated.
Q63: In Consumer decision making specifier is one who
Answer
Answer: Is one who is user of product?
Q64: Under globalization of Trade strategies, the marketer will have to adopt
Answer
Answer: Product differentiation
Q65: Product Life cycle means that
Answer
Answer: Products live around the 4 stages of cycle
Q66: Premium Pricing refers to
Answer
Answer: Setting a price above competitive price
Q67: TQM refers to Total Quantity Management
Answer
Answer: True
Q68: Marketing means pushing the products in the markets
Answer
Answer: False
Q69: Penetration pricing means selling at high price initially
Answer
Answer: False
Q70: Wholesalers sell products to all types of consumers – True or False
Answer
Answer: False
Q71: Direct Marketing means selling to ultimate consumer
Answer
Answer: True
Q72: Objective of Distribution of products is to restrict availability of products
Answer
Answer: False
Q73: Price is no consideration if the seller delivers high quality products
Answer
Answer: True
Q74: CRM helps to retain customers
Answer
Answer: True
Q75: Marketing Mix means People, Policy, Partnership and Politics
Answer
Answer: False
Q76: Missionary Sales People do not ask for salary
Answer
Answer: True
Q77: An individual’s lifestyle can be ascertained by his activities, interests and ——
Answer
Answer: Opinions
Q78: Introducing new products to existing markets is an example of
Answer
Answer: horizontal diversification
Q79: When a company acquires a supplier through an acquisition strategy, this is referred to as
Answer
Answer: forward integration
Q80: Selecting which segments of a population of customers to serve is called___
Answer
Answer: target marketing
Q81: —– refers to how an individual thinks about himself/herself
Answer
Answer: Self concept.
Q82: The term for customers who make repeat purchases and tell others about their positive experiences with a product or service
Answer
Answer: customer evangelists
Q83: Greater consumer control means that companies must rely more on marketing by___than by___
Answer
Answer: interaction; intrusion
Q84: Most companies today enter a new market by serving a___, and if this proves successful, they___
Answer
Answer: single market segment; add segments
Q85: An increasingly large number of firms are changing their organizational focus from___ to___
Answer
Answer: brand management; customer relationship management
Q86: ___NOT a marketing objective
Answer
Answer: Cash flow
Q87: What is price skimming
Answer
Answer: Setting an initially-high price which falls as competitors enter the market
Q88: Setting a price below that of the competition is called
Answer
Answer: Penetration pricing
Q89: A profit calculated by adding a percentage to the costs of production is called
Answer
Answer: Mark-up
Q90: A profit calculated on the basis of a percentage of the selling price is called
Answer
Answer: Margin
Q91: Calculating prices on the basis of what the market will pay is called
Answer
Answer: Demand pricing
Q92: Ending prices with 99p is called
Answer
Answer: Odd-even pricing
Q93: Bundle pricing is
Answer
Answer: Packaging a group of products together
Q94: Advertising used in the early stages of the PLC is called
Answer
Answer: Pioneering advertising
Q95: What is institutional advertising
Answer
Answer: Advertising aimed at building the corporate reputation
Q96: What is copywriting
Answer
Answer: Putting together the verbal elements of the message
Q97: What is reach
Answer
Answer: The percentage of the target market that is exposed to the message at least once
Q98: Selling warm coats to Icelanders is an example of
Answer
Answer: Geographic segmentation
Q99: Selling vodka to Icelanders is an example of
Answer
Answer: Geographic segmentation
Q100: Selling fishing equipment to Icelanders is an example of
Answer
Answer: Behavioural segmentation
