Marketing Management Objective Set 3

Q1: To be successful, a segment must be 

Answer

Answer: Distinctive, tangible, accessible, and defendable

Q2: Demographic segmentation refers to 

Answer

Answer: The description of the people and their place in society

Q3: What does BOGOFF stand for 

Answer

Answer: Buy One Get One For Free

Q4: A new model of a popular car would be considered 

Answer

Answer: Continuous innovation

Q5: Starting with one or two areas and then adding new regions to the distribution area is called 

Answer

Answer: Rolling launch

Q6: Breakeven point is calculated by the formula 

Answer

Answer:

Q7: Which is NOT a unique characteristic of a service?
a. Intangibility
b. Sustainability
c. Inseparability
d. Hetrogeneity 

Answer

Answer: b. Sustainability

Q8: Marketers are interested in ‘social class’ for reasons like
a. Which medium to use for advertising?
b. Where to best distribute their products?
c. Both options ‘a’ and ‘b’
d. Neither option ‘a’ nor ‘b’ 

Answer

Answer: c. Both options ‘a’ and ‘b’

Q9: If the price goes up and revenue goes down then demand is
a. Inelastic
b. Elastic
c. Unit Elastic
d. Perfectly elastic 

Answer

Answer: b. Elastic

Q10: Marketing forcast is NOT done to
a. Anticipate and manage change
b. Anticipate inventory and capacity demands
c. Increase communication between customers
d. Project cost of operations for budgets 

Answer

Answer: d. Project cost of operations for budgets

Q11: Which is the Act that governs all corporate bodies?
a. Cosumer Protection Act, 1986
b. Companies Act,1956
c. Competition Act, 2002
d. Information Technology Act,1999 

Answer

Answer: b. Companies Act,1956

Q12: For promoting intangible services, strategy should include
a. Stressing tangible cues
b. Creating a strong organizational image
c. Engaging in post purchase communication
d. All the above 

Answer

Answer: d. All the above

Q13: The process of collection and interpretation of information about forces, events and relationships in the external environment that may affect the future of the organization or implementation of marketing plan is called
a. Strategy building
b. Environmental judgement
c. Environmental scanning
d. SWOT analysis 

Answer

Answer: c. Environmental scanning

Q14: Supermarkets attract customers by selling a product near or even below cost in the hope that shoppers will buy other items once they are in the store. It is called
a. Bait Pricing
b. Price Lining
c. Leader Pricing
d. Two-part Pricing 

Answer

Answer: c. Leader Pricing

Q15: Products like scooters and cars, which were all-male markets no more can be assessed on the basis of
a. Gender Differentiation
b. Income differentiation
c. Age segmentation
d. Family life cycle segmentation 

Answer

Answer: a. Gender Differentiation

Q16: When a seller establishes a “series of prices” for a type of merchandise, he is said be creating
a. Flexible pricing
b. Price lining
c. Professional pricing
d. Leader pricing 

Answer

Answer: b. Price lining

Q17: The process of grouping customers into market segments according to the benefits they seek from the product are called
a. Geographic segmentation
b. Demographic segmentation
c. Benefit segmentation
d. Psychographic segmentation 

Answer

Answer: c. Benefit segmentation

Q18: Method/s used for assessing area market potential is/are
a. Market buildup method
b. Multiple factor index methods
c. Both options ‘a’ and ‘b’
d. Neither option ‘a’ nor ‘b’ 

Answer

Answer: c. Both options ‘a’ and ‘b’

Q19: www.bidz.com is a
a. Bargaining site
b. Internet auction site
c. Buying site
d. Data collection site 

Answer

Answer: b. Internet auction site

Q20: New Product Development is most effective when all the involved areas like R&D, marketing, engineering, production and even suppliers work together. This process is called
a. Simultaneous Product Development
b. Sequential Product Development
c. Staggered Product Development
d. None of the above 

Answer

Answer: a. Simultaneous Product Development

Q21: If additional respondents are selected on the basis of referels from the initial sample in non probability sampling, it is called
a. Snowball sample
b. Judgement sample
c. Simple random sample
d. Convenience sample 

Answer

Answer: a. Snowball sample

Q22: In probability sampling if the population is divided into mutually exclusive groups (such as gender, age), then random samples are drawn from each group, it is called
a. Quota sample
b. Systematic sample
c. Cluster sample
d. Stratified sample 

Answer

Answer: d. Stratified sample

Q23: It is a stressful and pressure filled task for a marketing manager to fix the right price of the product in the market as
a. Potential buyers carefully evaluate the price of each one against the value of existing products
b. Internet has made comparative shopping easy
c. many firms try to maintain their market share by cutting down on price
d. All the above 

Answer

Answer: d. All the above

Q24: Concept Testing is part of which step of New Product Development process?
a. Idea Generation
b. Idea Screening
c. Commercialization
d. Development 

Answer

Answer: b. Idea Screening

Q25: A thorough and systematic evaluation of marketing objectives is called marketing audit. It should NOT be
a. Comprehensive
b. Systematic
c. Independent
d. One time process 

Answer

Answer: d. One time process

Q26: After Innovators,___are the people who generally try out a new product introduced in the market.
a. Early Majority
b. Late Majority
c. Early Adopters
d. Laggards 

Answer

Answer: c. Early Adopters

Q27: A process that influences potential custiomers” overall perception of a brand, product line or organization in general is called
a. Brand equity
b. Brand stregthening
c. Brand positioning
d. Brand heritage 

Answer

Answer: c. Brand positioning

Q28: Finished items ready fro assembly or products that need very little processing before becoming part of some other product are called
a. Accessory Equipments
b. Supplies
c. Processed Material
d. Component Parts 

Answer

Answer: d. Component Parts

Q29: Usually managers tend to make incorrect pricing decision for short term gains. This happens due to
a. Current competitor prices
b. Unambiguous information on sales
c. Current costs
d. All of the above

Answer

Answer: d. All of the above

Q30: Researchers posing as customers who gather observational data are called
a. Mystery shoppers
b. Observational researchers
c. Behavioural targets
d. None of the above 

Answer

Answer: a. Mystery shoppers

Q31: Which stage of Organizational Buying Process is defined when after negotiating a supplier is chosen?
a. Performance Review
b. Selection of Order routine
c. Supplier Selection
d. Analysis of proposals 

Answer

Answer: c. Supplier Selection

Q32: In a bying situation when a purchaser wants some “changes” in the original good or service, it is called
a. Modified Rebuy
b. New Buy
c. Straight Buy
d. Acquired Buy 

Answer

Answer: a. Modified Rebuy

Q33: What constitutes the third level of Maslow’s Hierarchy of Needs?
a. Physiological needs
b. Esteem Needs
c. Safety Needs
d. Social Needs 

Answer

Answer: d. Social Needs

Q34: Maruti Suzuki’s advertising campaigns include
a. Print Ads
b. Point of sale
c. Mobile promotions
d. All the above 

Answer

Answer: d. All the above

Q35: Some services like Medical, Legal, Accounting use
a. Direct distribution
b. Indirect distribution
c. Sometimes direct and sometimes indirect
d. Depends on the demand of the consumer 

Answer

Answer: c. Sometimes direct and sometimes indirect

Q36: GlaxosmithKline highlights the benefit of its product by saying, “fast relief in 6 seconds”. The company is using___as basis for its Positioning bases.
a. Attribute
b. Perception
c. Belief
d. User friendliness 

Answer

Answer: a. Attribute

Q37: The most popular technique of gathering primary data is
a. Survey research
b. Internet
c. Market research aggregators
d. Research designs 

Answer

Answer: a. Survey research

Q38: It is a learned tendency to respond consistently towards a given object like a brand.
a. Attitude
b. Belief
c. Continuity
d. Craze 

Answer

Answer: a. Attitude

Q39: Salvage grocers sell “close outs”, which include products that manufacturers have discontinued or are seasonal items. The firm is following
a. Saturation Pricing
b. Price Skimming
c. Penetration Pricing
d. None of the above 

Answer

Answer: c. Penetration Pricing

Q40: What did Starbucks to do right to start in the Chinese market?
a. Select high-visibility and high-traffic locations to project its brand image
b. Introducing beverages using popular local ingredients such as green tea
c. Partnered Local with local coffee companies
d. All the above 

Answer

Answer: d. All the above

Q41: Group members who regulate the flow of information in a Business Purchase role are called
a. Initiators
b. Gatekeepers
c. Evaluators
d. Users 

Answer

Answer: b. Gatekeepers

Q42: Private electronic networks and wireless setups which link people, machines and companies across the globe is called
a. Extranet
b. Intranet
c. Internet
d. Websites 

Answer

Answer: a. Extranet

Q43: If an organization’s marketing philosophy is ‘Market Orientation’. Critical component/s of its orientation will be
a. Competitive arena
b. Competitor’s strength
c. Acquiring information about customers and markets
d. All the above 

Answer

Answer: d. All the above

Q44: 80/20 rule in marketing holds that
a. 20% of advertising budget generates 80% of total demand
b. 20% of all customers generate 80% of the demand
c. 80% of all customers generate 20% of the demand
d. 20% of effective business decisions generate 80% of demand 

Answer

Answer: b. 20% of all customers generate 80% of the demand

Q45: One of the microenvironment factors, “Publics” constitutes of
a. Government
b. Media
c. Citizens
d. All the above 

Answer

Answer: d. All the above

Q46: ___ are used to create buzz marketing or spread the information to other consumers in the market
a. Ad Agencies
b. Opinion Leaders
c. Suppliers
d. Retailers 

Answer

Answer: a. Ad Agencies

Q47: A group of brands found from the initial search of a customer on internet or other sources, is called
a. Alternative brands
b. Sought group
c. Evoked group
d. None of the above 

Answer

Answer: c. Evoked group

Q48: When Total Cost = Total revenue and there is no profit as yet, it is called
a. Profit Maximization Price
b. Break even Price
c. Keystoning
d. Mark-up Price 

Answer

Answer: b. Break even Price

Q49: When a customer orders KFC chicken, he precisely gets the same quality of product all across the nation. This concept is called
a. Inseparability
b. Experience quality
c. Hetrogeneity
d. Homogeneity 

Answer

Answer: c. Hetrogeneity

Q50: The enduring beliefs shared by the society are called
a. Values
b. Culture
c. Subculture
d. Social class 

Answer

Answer: a. Values

Q51: The four stages of Product life cycle are – Introductory stage, Growth stage,___, Decline stage.
a. Break even Point
b. Manufacturing Stage
c. Maturity Stage
d. Revenue Stage 

Answer

Answer: c. Maturity Stage