Marketing Management Online MCQ Set 17

QN01. If a company were seeking to design a channel system, the first step would be to:

  1. Analyse consumer-service needs
  2. Set the channel objective and constraints
  3. Analyse marketing intermediaries
  4. Factor in (or out) foreign marketing middlemen
Answer

(A)Analyse consumer-service needs

QN02. To say that a product has a life cycle is to assert all of the following EXCEPT ______________.

  1. products have a limited life
  2. product sales pass through distinct stages, each posing different challenges, opportunities, and problems to the seller
  3. products all basically exhibit cycle-recycle growth patterns
  4. profits rise and fall at different stages of the product life cycle
  5. products require different marketing, financial, manufacturing, purchasing, and human resource strategies in each life-cycle stage
Answer

(C)products all basically exhibit cycle-recycle growth patterns

QN03. The premise of ______________ models is that the power of a brand lies in what customers have seen, read, learned, thought, and felt about the brand over time.

  1. product-based brand equity
  2. service-based brand equity
  3. functional-based brand equity
  4. mission-driven brand equity
  5. customer-based brand equity
Answer

(E)customer-based brand equity

QN04. When a marketer expresses his or her vision of what the brand must be and do for consumers, they are expressing what is called ______________.

  1. a brand promise
  2. a brand mission
  3. brand equity
  4. a brand position
  5. a brand concept
Answer

(A)a brand promise

QN05. ______________ communicates to the market the company's intended value positioning of its product or brand.

  1. Packaging
  2. Price
  3. Place
  4. Promotion
  5. Product features
Answer

(B)Price

QN06. The concept of the lowest ______________ means that a seller can charge a higher price if they can convince the customers that price is only a small part of the total cost of obtaining, operating, and servicing the product over its lifetime.

  1. prestige pricing
  2. total cost of ownership
  3. convenience pricing
  4. key price points
  5. none of the above
Answer

(B)total cost of ownership

QN07. Consumer use price less to judge the quality of a product when they ______________.

  1. Lack Information
  2. Have experience with the product
  3. Are shopping for a specialty item
  4. Cannot physically examine the product
Answer

(B)Have experience with the product

QN08. Cash and carry wholesalers and drop shippers falls in the category of:

  1. Merchant wholesalers
  2. Limited service wholesalers
  3. Full-service wholesalers
  4. Brokers and agents
Answer

(B)Limited service wholesalers

QN09. Under what circumstances might it be wise for a company to do little or no test marketing?

  1. When the product has no substitutes and is new in its category
  2. When management is not sure of the marketing program
  3. When management is not sure about the product
  4. When the costs of developing and introducing the product are low
Answer

(D)When the costs of developing and introducing the product are low

QN10. The challenge for marketers in building a strong brand is ______________.

  1. ensuring that customers have the right type of experiences with products and their marketing programs to create the desired brand knowledge
  2. pricing the product at a point that maximizes sales volumes
  3. minimizing the number of people to whom the product is targeted in order to provide consumers with a personalized experience
  4. retain as many customers as possible in order to minimize the costs and pressure associated with continually generating new leads
  5. maximizing customer value
Answer

(A)ensuring that customers have the right type of experiences with products and their marketing programs to create the desired brand knowledge

QN11. ______________ is a way of capitalizing on the recognition, goodwill, and any positive associations of an established brand, and using the name to lever the brand into a new market.

  1. Brand Repositioning
  2. Brand Stretching
  3. Brand Extension
  4. Brand equity
Answer

(C)Brand Extension

QN12. Executives often complain that pricing is a big headach Common mistakes include: price is not revised often enough to capitalize on market changes; price is set ______________ of the rest of the marketing mix rather than an intrinsic element of a market-positioning strategy.

  1. divergently
  2. too high
  3. intrinsically
  4. independently
  5. concurrently
Answer

(D)independently

QN13. The three major considerations in price setting are: costs set the floor price; ______________; and customers' assessment of unique features establishes the price ceiling.

  1. competitors' prices and the price of substitutes provide an orientation point
  2. competitors' prices establishes a "target price" goal
  3. the price of substitutes establishes a "target price"
  4. the price of competitors and substitutes does not enter into the pricing considerations.
  5. none of the above
Answer

(A)competitors' prices and the price of substitutes provide an orientation point

QN14. What channel structure is it where the product goes directly from the producer to the final customer?

  1. Direct
  2. Indirect
  3. Hybrid
  4. None of the above
Answer

(A)Direct

QN15. When producers, wholesalers, and retailers act as a unified system, they comprise a:

  1. Conventional marketing system
  2. Power-based marketing system
  3. Horizontal marketing system
  4. Vertical marketing system
Answer

(D)Vertical marketing system

QN16. Super Product Developers Pvt. Ltd has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage, called ______________, to arrive at a realistic number to adopt.

  1. Idea screening
  2. Idea dissemination
  3. Concept development
  4. Idea generation
Answer

(A)Idea screening

QN17. Which of the following is not associated with brand equity?

  1. Brand value
  2. Brand heritage
  3. Brand strength
  4. Brand description
Answer

(B)Brand heritage

QN18. This level of rebranding refers to the renaming of a whole corporate entity, often signifying a major strategic change or repositioning. This is known as:

  1. corporate rebranding.
  2. SBU rebranding.
  3. product rebranding.
  4. international rebranding.
Answer

(A)corporate rebranding.

QN19. The decline in the average cost of production with accumulated production experience is called the ______________.

  1. demand curve
  2. cost curve
  3. learning curve
  4. cost target
  5. indifference band
Answer

(C)learning curve

QN20. When suppliers, distributors, and customers partner with each other to improve the performance of the entire system, they are participating in a ______________.

  1. Channel of distribution
  2. Supply and demand chain
  3. Value delivery network
  4. Demand chain
  5. Supply chain
Answer

(C)Value delivery network

QN21. In product life cycle growth stage, the marketing objective is to:

  1. create product awareness
  2. maximize market share
  3. defend market share and profits
  4. reduce expenditure
Answer

(B)maximize market share

QN22. Compared to multiple brands in a single market, a single brand in a single market is inferior in terms of:

  1. marketing impact
  2. overall advertising costs
  3. retail shelf space
  4. economies of scale
Answer

(C)retail shelf space

QN23. Companies pursue survival as their major objective if they are plagued with ______________.

  1. legal prosecution
  2. weak competition
  3. static consumer wants
  4. shareholder activism
  5. overcapacity
Answer

(E)overcapacity

QN24. The number of intermediaries are severely limited in

  1. Exclusive distribution
  2. Selective distribution
  3. Intensive distribution
  4. None of the above
Answer

(A)Exclusive distribution

QN25. A private-label brand is developed by:

  1. Wholesalers
  2. Retailers
  3. Both a and b
  4. None of the above
Answer

(C)Both a and b

QN26. Competitors in growth stage of product life cycle are:

  1. Few
  2. Growing number
  3. Stable but begins declining
  4. Declining number
Answer

(B)Growing number

QN27. When two established brands work together, on an offering to generate increased consumer appeal and attraction is called:

  1. brand licensing.
  2. co-branding.
  3. brand extensions.
  4. brand stretching.
Answer

(B)co-branding.

QN28. All of the following would be possible advantages of co-branding EXCEPT:

  1. combined brands create broader consumer appeal.
  2. combined brands create greater brand equity.
  3. combined brands always offer economies of scale and reduced prices.
  4. combined brands allow a company to expand its existing brand into other categories.
Answer

(C)combined brands always offer economies of scale and reduced prices.

QN29. At breakeven point which of the following holds true?

  1. Total expense=Total revenue
  2. Total expense>Total revenue
  3. Total expense<Total revenue
  4. All of the above
Answer

(A)Total expense=Total revenue

QN30. This is where one channel member perceives another channel member to be acting in a way that prevents the first member from achieving its distribution objectives:

  1. Channel Communication
  2. Channel Conflict
  3. Channel relationship
  4. Customer conflict
Answer

(B)Channel Conflict

QN31. According to Young and Rubicam's brand asset valuator, a brand's ______________ measures how well the brand is regarded and respected.

  1. differentiation
  2. energy
  3. relevance
  4. esteem
  5. knowledge
Answer

(D)esteem

QN32. When a consumer expresses thoughts, feelings, images, experiences, beliefs, and so on that become associated with the brand, the consumer is expressing brand ______________.

  1. loyalty
  2. behavior
  3. preference
  4. knowledge
  5. equity
Answer

(D)knowledge

QN33. At the second level of customer value hierarchy, marketers need to turn core benefit into:

  1. Expected product
  2. Augmented product
  3. Basic product
  4. None of the above
Answer

(C)Basic product

QN34. Services cannot be stored and are to be consumed immediately when produced. This is termed as:

  1. Intangibility
  2. Inseparability
  3. Heterogeneity
  4. Perishability
Answer

(D)Perishability

QN35. ______________ is a major driver of new product performance at business unit level which signifies that there should be clearly defined business goals with specific areas of thrust for the new product.

  1. A clear new product strategy
  2. High quality project teams
  3. Adequate resources for new products
  4. High quality new product process
Answer

(A)A clear new product strategy

QN36. X is focusing on ______________ differentiation while Y is focusing on
______________ differentiation.

  1. Product, service
  2. Service, service
  3. Service, product
  4. Product, product
Answer

(C)Service, product

QN37. When a new product can be easily duplicated, ______________ is a better alternative for introducing the new product and when the product is very distinct from competitive offerings, ______________ is the better alternative.

  1. Penetration, Skimming
  2. Skimming, Skimming
  3. Penetration, Penetration
  4. Skimming, Penetration
Answer

(A)Penetration, Skimming

QN38. Major brand marketers often spend huge amounts on advertising to create brand ______________ and to build preference and loyalty.

  1. Extension
  2. Awareness
  3. Packaging
  4. Preference
Answer

(B)Awareness

QN39. According to the Brand Asset Valuator model, brand strength consists of:

  1. Esteem, knowledge
  2. Esteem, relevance
  3. Differentiation, Knowledge
  4. Differentiation, Relevance
Answer

(D)Differentiation, Relevance

QN40. If Amul IceCream decides to introduce an apricot flavored Ice cream, it will be an example of:

  1. Brand extension
  2. Co-branding
  3. Line extension
  4. Ingredient branding
Answer

(C)Line extension

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