Online MCQ Assignment Answer

QN1: The Selling Concept is

A. Products
B. Customer needs
C. Markets
D. None of the above

Answer

Answer: A. Products

QN2: Market Means

A. The set of actual and potential sellers of a product
B. The set of actual and potential buyers of a product
C. Both buyers and sellers
D. None of the above

Answer

Answer: C. Both buyers and sellers

QN3: BCG stands for

A. Boston consumer goods
B. Boston crdit groups
C. Bosston consultancy groups
D. Both a and b

Answer

Answer: C. Bosston consultancy groups

QN4: Marketing Mix Elements are

A. Product, price, place, and customers
B. Product, price, place and promotion
C. Product , price, place and physical distribution
D. Both b and c

Answer

Answer: B. Product, price, place and promotion

QN5: Diversification means

A. A strategy for company growth by starting up or acquiring businesses outside the company’s current products and markets
B. A stage for company growth and starting up or acquiring other companies and their products
C. A unit which deals in many products and services
D. Both b and c

Answer

Answer: A. A strategy for company growth by starting up or acquiring businesses outside the company’s current products and markets

QN6: SBU stands for

A. State bank of uttranchal
B. Strategic business unit
C. Semi brand units
D. None of the above

Answer

Answer: B. Strategic business unit

QN7: Market Segmentation is

A. The process of classifying customer’s into groups, each with different needs, characteristics or behaviours.
B. The process of classifying the markets into groups each with same needs and characteristics
C. The process of making the dealers and distributors happy about the products
D. None of the above

Answer

Answer: A. The process of classifying customer’s into groups, each with different needs, characteristics or behaviours.

QN8: Strategic Control means

A. A critical review of the company’s overall production effectiveness
B. A critical review of the company’s overall finanicial effectiveness
C. A critical review of the company’s overall marketing effectiveness
D. None of the above

Answer

Answer: D. None of the above

QN9: Changes in incomies

A. An economic enviorenmental factor
B. A political environment factor
C. A socio cultural environment factor
D. Both b and c

Answer

Answer: A. An economic enviorenmental factor

QN10: Status is

A. The general life style given by the society
B. The general esteem given to a role by society
C. The symbol in the market
D. None of the above

Answer

Answer: C. The symbol in the market

QN11: The first step in strategic planning is

A. Defining the company’s mission
B. Designing the marketing program
C. Designing the business portfolio
D. None of the above

Answer

Answer: A. Defining the company’s mission

QN12: The 4c’s of the marketing mix tactial tool kit are

A. Customer, cost, convienee and curve
B. Customer, cost, convience and coverage
C. Customer, cost, convienence and communication
D. Noe of the above

Answer

Answer: C. Customer, cost, convienence and communication

QN13: Promotion mix elements are

A. Price, advertising , publicity and sales promotion
B. Advertising, sales promotion, publicity and personal selling
C. Personal selling, strategy, advertising and publicity
D. Both a and c

Answer

Answer: A. Price, advertising , publicity and sales promotion

QN14: Marketing productivity audit includes:

A. Products, price and distribution analysis
B. Profitability analysis and cost effectiveness analysis
C. Advertising and sales force anlaysis
D. Both a and c

Answer

Answer: A. Products, price and distribution analysis

QN15: Demography is

A. The study of human population in terms of size, location, age, gender, race, occupation and other statistics
B. The study of the marketing plans
C. The study of all the activities in the organization
D. None of the above

Answer

Answer: A. The study of human population in terms of size, location, age, gender, race, occupation and other statistics

QN16: A sample is a

A. Segment of the area in the market
B. Segment of the population selected to represent the population as a whole
C. Part of the data
D. Both a and c

Answer

Answer: C. Part of the data

QN17: The two types of sales forecasts are:

A. Industry and the market sales forecasts
B. Industry and the price forecasts
C. Industry and the company sales forecasts
D. None of the above

Answer

Answer: C. Industry and the company sales forecasts

QN18: PVCM stands for

A. Percentage and value cost margin
B. Percentage-variable contribution margin
C. Percentage value cost margin
D. Both a and c

Answer

Answer: B. Percentage-variable contribution margin

QN19: Inventory turnover is

A. Gross margin/price
B. Sales/cost
C. Sales/average value of inventory
D. Both a and b

Answer

Answer: C. Sales/average value of inventory

QN20: The product is now more widely known and the sales grow rapidly is the stage of

A. Introduction stage
B. Maturity
C. Growth
D. Decline

Answer

Answer: C. Growth

QN21: The 4 stages of the PLC

A. Growth, introduction, maturity and decline
B. Growth introduction maturity and new
C. Introduction, decline, new product, growth
D. Both a and c

Answer

Answer: A. Growth, introduction, maturity and decline

QN22: The new product development process starts with

A. screening
B. idea generation
C. product development
D. none of the above

Answer

Answer: B. idea generation

QN23: The process of creating and developing product specifications that optimize the function, value and appearance of the product is

A. Product design
B. Market design
C. Industrial design
D. None of the above

Answer

Answer: C. Industrial design

QN24: Setting a price at or near competitive levels is

A. Penetrating pricing
B. Parity pricing
C. Competition pricing
D. Both a and c

Answer

Answer: A. Penetrating pricing

QN25: In advertising, GRP stands for

A. Grand rating points
B. Growth rating points
C. Gross rating points
D. None of the above

Answer

Answer: C. Gross rating points

QN26: Inventory cost is

A. Annual sales/inventory turnover X inventory carrying cost
B. Total sales/inventory carrying costs
C. Total costs/annual cost
D. Both b and c

Answer

Answer: A. Annual sales/inventory turnover X inventory carrying cost

QN27: The systematic design, collection analysis, and reporting of data relevant to a specific marketing situation facing an organization is

A. Market research
B. Marketing research
C. Product research
D. Both a and c

Answer

Answer: B. Marketing research

QN28: In collecting primary data, the two main research instumetns are:

A. Mechanical devices and the telephonic conversation
B. Questionnaire and the mechanical device
C. Questionnaire and the telephonic conversation
D. None of the above

Answer

Answer: B. Questionnaire and the mechanical device

QN29: VMS stand for

A. Vertical marketing system
B. Vertical management system
C. Value marketing system
D. Vertical measuring system

Answer

Answer: A. Vertical marketing system

QN30: A descriptive thought that a person has about something is called

A. Idea
B. Belief
C. Value
D. Description

Answer

Answer: C. Value

QN31: The collection of businesses and products that make up the company is

A. Product portfolio
B. Business portfolio
C. Market portfolio
D. Both a and c

Answer

Answer: B. Business portfolio

QN32: Two or more outlets that are commonly owned and controlled are

A. Business stores
B. Chain store
C. Products
D. None of the above

Answer

Answer: B. Chain store

QN33: The practice of using the established brand names of two different companies on the same product

A. Branding
B. Re branding
C. Co branding
D. None of the above

Answer

Answer: C. Co branding

QN34: The set of basic values, Perceptions, wants and behaviours learned by a member of society from family and the important institutions is known as

A. Culture
B. Sub culture
C. Attitude
D. None of the above

Answer

Answer: A. Culture

QN35: The total combines lifetime values of all the company’s customers is called

A. Product equity
B. Customer equity
C. Market equity
D. Both a and c

Answer

Answer: B. Customer equity

QN36: CRM stands for

A. Cost recovery management
B. Customer relationship management
C. Customer role in management
D. None of the above

Answer

Answer: B. Customer relationship management

QN37: Adding a standard mark up to the cost of the product is

A. Differentiated pricing
B. Cost plus pricing
C. Cost only pricing
D. None of the above

Answer

Answer: A. Differentiated pricing

QN38: Human wants that are backed by buying power are called

A. Products
B. Demands
C. Markets
D. Both a and c

Answer

Answer: B. Demands

QN39: Stocking the product in as many outlets as possible is called

A. Extensive distribution
B. Inclusive distribution
C. Intensive distribution
D. None of the above

Answer

Answer: C. Intensive distribution

QN40: In marketing, MIS stands for

A. Management information system
B. Marketing information system
C. Market idea system
D. Major information system

Answer

Answer: B. Marketing information system

QN41. Which of the following statements is correct?

a) Marketing is the term used to refer only to the sales function within a firm

b) Marketing managers usually don’t get involved in production or distribution decisions

c) Marketing is an activity that considers only the needs of the organization, not the needs of society as a whole

d) Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

Answer

Answer: d) Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

QN42. In the relationship marketing firms focus on___relationships with___.

a) Short term; customers and suppliers

b) Long term; customers and suppliers

c) Short term; customers

d) Long term; customers

Answer

Answer: b) Long term; customers and suppliers

QN43. The Coca Cola organization is an official sponsor of the Olympics. The firm is engaging in:

a) Place marketing

b) Event marketing

c) Person marketing

d) Organization marketing

Answer

Answer: b) Event marketing

QN44. The term “marketing mix” describes:

a) A composite analysis of all environmental factors inside and outside the firm

b) A series of business decisions that aid in selling a product

c) The relationship between a firm’s marketing strengths and its business weaknesses

d) A blending of four strategic elements to satisfy specific target markets

Answer

Answer: d) A blending of four strategic elements to satisfy specific target markets

QN45. Market expansion is usually achieved by:

a) More effective use of distribution

b) More effective use of advertising

c) By cutting prices

d) All of the above are suitable tactics

Answer

Answer: a) More effective use of distribution

QN46. A market with which of the following characteristics would generally be less competitive?

a) High barriers to entry

b) Lots of potential substitutes exist

c) Strong bargaining power among buyers

d) Strong bargaining power among suppliers

Answer

Answer: b) Lots of potential substitutes exist

QN47. Marketing decision makers in a firm must constantly monitor competitors’ activities-their products, prices, distribution, and promotional efforts-because

a) The competitors may be violating the law and can be reported to the authorities

b) The actions of competitors may threaten the monopoly position of the firm in its industry

c) The actions of competitors may create an oligopoly within an industry

d) New product offerings by a competitor with the resulting competitive variations may require adjustments to one or more components of the firm’s marketing mix

Answer

Answer: d) New product offerings by a competitor with the resulting competitive variations may require adjustments to one or more components of the firm’s marketing mix

QN48. When looking at consumer income, marketers are most interested in

a) Discretionary income

b) Deferred income

c) Inflationary income

d) Disposable income

Answer

Answer: a) Discretionary income

QN49. Today’s marketers need

a) Neither creativity nor critical thinking skills

b) Both creativity and critical thinking skills

c) Critical thinking skills but not creativity

d) Creativity but not critical thinking skills

Answer

Answer: b) Both creativity and critical thinking skills

QN50. Political campaigns are generally examples of

a) Cause marketing

b) Organization marketing

c) Event marketing

d) Person marketing

Answer

Answer: d) Person marketing

QN51. Assume you are in charge of the politically-mandated process of converting the economy of a developing African nation from state-controlled to market-driven business ventures. Your ability to control___will most likely determine the future success of the country and its government.

a) The culture

b) Marketing

c) Technology

d) Competitive environment

Answer

Answer: b) Marketing

QN52. Early adopters of which opinion leaders are largely comprised of and tend to be

a) Generalized; that is, they tend to lead the group on most issues

b) More likely to buy new products before their friends do and voice their opinions about them

c) From the upper class; people from other classes are more likely to be followers

d) Quiet, withdrawn people who don’t make fashion statements or take risks easily

Answer

Answer: b) More likely to buy new products before their friends do and voice their opinions about them

QN53. According to Maslow’s Hierarchy of Needs theory, the need for fulfillment, for realizing one’s own potential, and for fully using one’s talents and capabilities are examples of___needs.

a) Self-actualization

b) Physiological

c) Social

d) Esteem

Answer

Answer: a) Self-actualization

QN54. Strategic marketing planning establishes the

a) Resource base provided by the firm’s strategy

b) Economic impact of additional sales

c) Tactical plans that must be implemented by the entire organization

d) Basis for any marketing strategy

Answer

Answer: d) Basis for any marketing strategy

QN55. The strategic marketing planning process begins with

a) The writing of the mission statement

b) The establishment of organizational objectives

c) The formulation of a marketing plan

d) Hiring a senior planner

Answer

Answer: a) The writing of the mission statement

QN56. Which of the following is a strategic marketing planning tool?

a) The market share/market growth (BCG) matrix

b) The consumer scanning model

c) A market vulnerability/business opportunity matrix

d) Market sheet analysis

Answer

Answer: a) The market share/market growth (BCG) matrix

QN57. Market expansion is usually achieved by:

a) More effective use of distribution

b) More effective use of advertising

c) By cutting prices

d) All of the above are suitable tactics

Answer

Answer: a) More effective use of distribution

QN58: When companies make marketing decisions by considering consumers’ wants and the long-run interests of the company, consumer, and the general population, they are practicing which of the following principles?

a) Innovative marketing

b) Consumer-oriented marketing

c) Value marketing

d) Societal marketing

Answer

Answer: d) Societal marketing

QN59. The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is called

a) Marketing strategy

b) Marketing control

c) Marketing analysis

d) Marketing implementation

Answer

Answer: d) Marketing implementation

QN60. The total number of items that the company carries within its product lines refers to the of the product mix.

a) Width

b) Depth

c) Length

d) Consistency

Answer

Answer: c) Length

QN61. The use of price points for reference to different levels of quality for a company’s related products is typical of which product-mix pricing strategy?

a) Optional-product pricing

b) Captive-product pricing

c) By-product pricing

d) Product line pricing

Answer

Answer: d) Product line pricing

QN62.___is a strategy of using a successful brand name to launch a new or modified product in a new category.

a) Duo-branding

b) Line extension

c) Brand extension

d) Multi-branding

Answer

Answer: c) Brand extension

QN63. The fact that services cannot be stored for later use or sale is evidence of their

a) Intangibility.

b) Inseparability.

c) Variability.

d) Perish ability.

Answer

Answer: d) Perish ability.

QN64.___is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products.

a) The promotion mix

b) Integrated international affairs

c) Integrated marketing communications

d) Integrated demand characteristics

Answer

Answer: d) Integrated demand characteristics

QN65. If Honda uses its company name to cover such different products as its automobiles, lawn mowers, and motorcycles, it is practicing which of the following strategies?

a) New brand strategy

b) Line extension strategy

c) multi-brand strategy

d) Brand extension strategy

Answer

Answer: d) Brand extension strategy

QN66. When producers, wholesalers, and retails act as a unified system, they comprise a

a) Conventional marketing system

b) Power-based marketing system

c) Horizontal marketing system

d) Vertical marketing

Answer

Answer: d) Vertical marketing

QN67. Which of the following would best describe the calculation of a customer’s lifetime value?

a. The present value of the stream of future costs expected over the lifetime

b. The present value of the stream of future profits expected over the lifetime

c. The present value of the stream of future income increases expected over the lifetime

d. The future value of the stream of future costs expected over the lifetime

Answer

Answer: b. The present value of the stream of future profits expected over the lifetime

QN68. ______ is the customer’s objective assessment of the utility of an offering based on perceptions of its benefits relative to its cost.

a. Value equity

b. Net equity

c. Relations equity

d. Brand equity

Answer

Answer: a. Value equity

QN69. There are five different levels of investment in customer-relationship building.

They are basic, reactive, proactive, partnership, and what?

a. Accountable

b. Objective

c. Subjective

d. Accounting

Answer

Answer: a. Accountable

QN70. Creating structural ties with customers is a long-term process for a company.

Which of the following would not be a good suggestion for creating those ties?

a. Concentrate on current sales

b. Charge a lower price to consumers who buy larger supplies

c. Create long-term contracts

d. Turn the product into a long-term service

Answer

Answer: a. Concentrate on current sales

QN71. A _____ advantage is one that a company can use as a

springboard to new advantages.

a. Leverageable

b. Relationship

c. Contractual

d. Customer

Answer

Answer: a. Leverageable

QN72. Total customer value is the bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering.

a. True

b. False

Answer

Answer: b. False

QN73. A person’s feelings of pleasure or disappointment resulting from comparing a product’s performance (or outcome) in relation to his or her own performance (or outcome) is called satisfaction.

a. True

b. False

Answer

Answer: b. False

QN74. Customer expectations are created by buying experience, friends’ and associates’ advice, and marketers’ and competitors’ information and promises.

a. True

b. False

Answer

Answer: a. True

QN75. A value inquest consists of the whole cluster of benefits the company promises to deliver; it is more than the core positioning of the offering.

a. True

b. False

Answer

Answer: b. False

QN76. One of the tools used to track and measure customer satisfaction is a complaint and suggestion system.

a. True

b. False

Answer

Answer: a. True

QN77. Companies that navigate all the pitfalls to reach their customer value and satisfaction goals are called high-performance companies.

a. True

b. False

Answer

Answer: a. True

QN78. Examples of resources that a company can use to carry on its business processes are labor, materials, and information.

a. True

b. False

Answer

Answer: a. True

QN79. The shared stories, experiences, beliefs, and norms that every employee has and shares within a company are called policies.

a. True

b. False

Answer

Answer: b. False

QN80. Visionary companies are acknowledged industry leaders and are widely admired, set ambitious goals, communicate to their employees, and embrace a high purpose beyond making money.

a. True

b. False

Answer

Answer: a. True

QN81. A value chain is a tool used by a company to identify ways to create more customer value through its activities.

a. True

b. False

Answer

Answer: a. True

QN82. The process of calculating a company’s customer defection rate is called customer scrambling.

a. True

b. False

Answer

Answer: b. False

QN83. A highly satisfied consumer stays loyal longer, buys more products talks favourably about the company, and shops at competitors regularly to keep up with price comparisons.

a. True

b. False

Answer

Answer: b. False

QN84. Customer lifetime value describes the present value of the stream of future profits expected over the customer’s lifetime purchases.

a. True

b. False

Answer

Answer: a. True

QN85. Value equity is the customer’s subjective and intangible assessment of the brand, above and beyond its objectively perceived value.

a. True

b. False

Answer

Answer: b. False

QN86. A customer advantage is something that a company can use as a springboard to new advantages.

a. True

b. False

Answer

Answer: b. False

QN87. A ___ consists of the activities a person is expected to perform in a

group.

a. Position

b. Status

c. life cycle

d. role

Answer

Answer: d. role

QN88. Product choice is greatly affected by economic circumstances: spendable income, savings and assets, debts, borrowing power, and what?

a. How much is owned by a person

b. How much is in the bank

c. Attitudes toward spending and saving

d. All of the above

Answer

Answer: d. All of the above

QN89. There are five main traits that describe brand personalities in marketing today.

They are sincerity, excitement, competence, sophistication, and what?

a. Reliable

b. Humorous

c. Daring

d. Ruggedness

Answer

Answer: d. Ruggedness

QN90. Maslow’s theory of motivation is made up of five levels. Which of the following is not one of those levels?

a. Self-concept needs

b. Social needs

c. Self-esteem needs

d. Physiological needs

Answer

Answer: a. Self-concept needs

QN91. ____ mean(s) that the person has learned to recognize differences in sets of similar stimuli and can adjust responses accordingly.

a. Drive

b. Cues

c. Discrimination

d. Learning

Answer

Answer: c. Discrimination

QN92. A(n) ________ is a person’s enduring favourable or unfavourable evaluations, emotional feelings, and action tendencies toward some object or idea.

a. Attitude

b. Cue

c. drive

d. feeling

Answer

Answer: a. Attitude

QN93. Complex buying behaviour involves a three-step process. Which of the following is not one of those steps?

a. The buyer makes a thoughtful choice.

b. The buyer recognizes the need.

c. The buyer develops attitudes about the product.

d. The buyer develops beliefs about the product.

Answer

Answer: b. The buyer recognizes the need.

QN94. There are a number of ways in which marketers can learn about the stages of the buying process for their product. Which one is described as purchasers recalling the events leading to their purchase?

a. Prescriptive method

b. Retrospective method

c. Prospective method

d. Introspective method

Answer

Answer: b. Retrospective method

QN95. Candy has decided to go to McGill University because of the scholarships she will receive. In what stage of the Buying Decision Process is she involved?

a. Purchase

b. Information Search

c. Post Purchase

d. Problem Recognition

Answer

Answer: a. Purchase

QN96. When consumers compare their expectations to the actual delivery of a product or service and the expectations are exceeded, the consumers are said to be what?

a. Unhappy

b. Disappointed

c. Delighted

d. Satisfied

Answer

Answer: c. Delighted

QN97. The field of retail behaviour studies how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires.

a. True

b. False

Answer

Answer: b. False

QN98. Different ethnic and demographic niches do not always respond favourably to mass market advertising.

a. True

b. False

Answer

Answer: b. False

QN99. Social classes do not reflect income alone, but also other indicators such as occupation, education, and area of residence.

a. True

b. False

Answer

Answer: a. True

QN100. Aspiration groups are those whose values or behaviour an individual rejects; dissociative groups are those the person hopes to join.

a. True

b. False

Answer

Answer: b. False

QN101. Another shift in buying patterns is an increase in the amount of dollars spent and influence wielded by children and teens.

a. True

b. False

Answer

Answer: a. True

QN102. In the Empty Nest I stage, families are made up of older married couples, no children living at home, and the head of household is in the labour force.

a. True

b. False

Answer

Answer: a. True

QN103. People who are computer-savvy are good prospects for home banking to pay bills, switch money between accounts, and check their balances.

a. True

b. False

Answer

Answer: a. True

QN104. Brand personality is only created by those companies that have created a cartoon character to represent their products and services.

a. True

b. False

Answer

Answer: b. False

QN105. Motivation researchers often collect “in-depth interviews” (like word association and role playing) with a few dozen consumers to uncover deeper motives triggered by a product.

a. True

b. False

Answer

Answer: a. True

QN106. An attitude is a person’s enduring favourable or unfavourable evaluations, emotional feelings, and action tendencies toward some object or idea.

a. True

b. False

Answer

Answer: a. True