Marketing Management Online MCQ Set 5

QN01. Which of the following statements is correct?

  1. Marketing is the term used to refer only to the sales function within a firm
  2. Marketing managers usually don’t get involved in production or distribution decisions
  3. Marketing is an activity that considers only the needs of the organization, not the needs of society as a whole
  4. 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

(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

QN02. Which of the following is NOT an element of the marketing mix?

  1. Distribution
  2. Product
  3. Target market
  4. Pricing
Answer

(C)Target market

QN03. Marketing decision makers in a firm must constantly monitor competitors' activities-their products, prices, distribution, and promotional efforts-because

  1. The competitors may be violating the law and can be reported to the authorities
  2. The actions of competitors may threaten the monopoly position of the firm in its industry
  3. The actions of competitors may create an oligopoly within an industry
  4. 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

(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

QN04. Political campaigns are generally examples of—

  1. Cause marketing
  2. Organization marketing
  3. Event marketing
  4. Person marketing
Answer

(D)Person marketing

QN05. ______________ is the collection and interpretation of information about forces, events, and relationships that may affect the organization.

  1. Environmental scanning
  2. Stakeholder analysis
  3. Market sampling
  4. Opportunity analysis
Answer

(A)Environmental scanning

QN06. Which of the following is typically NOT a result of recognizing the importance of ethnic groups by marketers?

  1. Use of an undifferentiated one-size-fits-all marketing strategy
  2. Different pricing strategies for different groups
  3. Variations in product offerings to suit the wants of a particular group
  4. Study of ethnic buying habits to isolate market segments
Answer

(A)Use of an undifferentiated one-size-fits-all marketing strategy

QN07. Strategic marketing planning establishes the—

  1. Resource base provided by the firm’s strategy
  2. Economic impact of additional sales
  3. Tactical plans that must be implemented by the entire organization
  4. Basis for any marketing strategy
Answer

(D)Basis for any marketing strategy

QN08. These objectives are often the most suitable when firms operate in a market dominated by a major competitor and where their financial resources are limited

  1. Niche
  2. Hold
  3. Harvest
  4. Divest
Answer

(A)Niche

QN09. 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?

  1. Innovative marketing
  2. Consumer-oriented marketing
  3. Value marketing
  4. Societal marketing
Answer

(D)Societal marketing

QN10. 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?

  1. Optional-product pricing
  2. Captive-product pricing
  3. By-product pricing
  4. Product line pricing
Answer

(D)Product line pricing

QN11. ______________ 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.

  1. The promotion mix
  2. Integrated international affairs
  3. Integrated marketing communications
  4. Integrated demand characteristics
Answer

(C)Integrated marketing communications

QN12. The ______________ holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency).

  1. Product concept
  2. Production concept
  3. Production cost expansion concept
  4. Marketing concept
Answer

(A)Product concept

QN13. The term marketing refers to:

  1. New product concepts and improvements
  2. Advertising and promotion activities
  3. A philosophy that stresses customer value and satisfaction
  4. Planning sales campaigns
Answer

(C)A philosophy that stresses customer value and satisfaction

QN14. The term "marketing mix" describes:

  1. A composite analysis of all environmental factors inside and outside the firm
  2. A series of business decisions that aid in selling a product
  3. The relationship between a firm’s marketing strengths and its business weaknesses
  4. A blending of four strategic elements to satisfy specific target markets
Answer

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

QN15. When looking at consumer income, marketers are most interested in

  1. Discretionary income
  2. Deferred income
  3. Inflationary income
  4. Disposable income
Answer

(A)Discretionary income

QN16. Newsletters, catalogues, and invitations to organization-sponsored events are most closely associated with the marketing mix activity of---

  1. Pricing
  2. Distribution
  3. Product development
  4. Promotion
Answer

(D)Promotion

QN17. 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.

  1. The culture
  2. Marketing
  3. Technology
  4. Competitive environment
Answer

(B)Marketing

QN18. Early adopters of which opinion leaders are largely comprised of and tend to be ______________

  1. Generalized; that is, they tend to lead the group on most issues
  2. More likely to buy new products before their friends do and voice their opinions about them
  3. From the upper class; people from other classes are more likely to be followers
  4. Quiet, withdrawn people who don’t make fashion statements or take risks easily
Answer

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

QN19. The strategic marketing planning process begins with ______________

  1. The writing of the mission statement
  2. The establishment of organizational objectives
  3. The formulation of a marketing plan
  4. Hiring a senior planner
Answer

(A)The writing of the mission statement

QN20. Market expansion is usually achieved by:

  1. More effective use of distribution
  2. More effective use of advertising
  3. By cutting prices
  4. All of the above are suitable tactics
Answer

(D)All of the above are suitable tactics

QN21. A marketing philosophy summarized by the phrase "a good product will sell itself" is characteristic of the ______________ period.

  1. Production
  2. Sales
  3. Marketing
  4. Relationship
Answer

(A)Production

QN22. Diversification is best described as which of the following?

  1. Existing products in new markets
  2. Existing products in existing markets
  3. New products for new markets
  4. New products for existing markets
Answer

(C)New products for new markets

QN23. Today's marketers need ______________

  1. Neither creativity nor critical thinking skills
  2. Both creativity and critical thinking skills
  3. Critical thinking skills but not creativity
  4. Creativity but not critical thinking skills
Answer

(B)Both creativity and critical thinking skills

QN24. An imbalance between a consumer's actual and desired state in which recognition that a gap or problem needs resolving is called ______________

  1. Motive development
  2. An attitudes
  3. A self-concept
  4. Product Evolutions
Answer

(A)Motive development

QN25. 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.

QN26. Which of the following is a strategic marketing planning tool?

  1. The market share/market growth (BCG) matrix
  2. The consumer scanning model
  3. A market vulnerability/business opportunity matrix
  4. Market sheet analysis
Answer

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

QN27. Diversification is best described as which of the following?

  1. Existing products in new markets
  2. Existing products in existing markets
  3. New products for new markets
  4. New products for existing markets
Answer

(C)New products for new markets

QN28. The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is called ______________

  1. Marketing strategy.
  2. Marketing control.
  3. Marketing analysis.
  4. Marketing implementation
Answer

(D)Marketing implementation

QN29. ______________ is a strategy of using a successful brand name to launch a new or modified product in a new category.

  1. Duo-branding
  2. Line extension
  3. Brand extension
  4. Multi-branding
Answer

(C)Brand extension

QN30. The stage is the product life cycle that focuses on expanding market and creating product awareness and trial is the:

  1. Decline stage.
  2. Introduction stage.
  3. Growth stage.
  4. Maturity stage.
Answer

(B)Introduction stage.

QN31. ______________ is a critical success factors of products at project level which is indicated by a differentiated product with unique customer benefits.

  1. Solid up front homework
  2. High quality marketing activities
  3. Sharp early product definition
  4. Product superiority
Answer

(D)Product superiority

QN32. Which of the following represents the correct sequence of tasks for building a brand (from left to right)?

  1. Developing marketing programs, Leverage of secondary associations, Choosing brand elements
  2. Choosing brand elements, Developing marketing programs, Leverage of secondary associations
  3. Choosing brand elements, Leverage of secondary associations, Developing marketing programs
  4. Leverage of secondary associations, Choosing brand elements, Developing marketing programs
Answer

(B)Choosing brand elements, Developing marketing programs, Leverage of secondary associations

QN33. Company A fixes its marketing communication budget by observing the budget set by Company B. This is an example of establishing budget by:

  1. Affordable method
  2. Percentage of sales method
  3. Competitive parity method
  4. Objective and task method
Answer

(C)Competitive parity method

QN34. Marketing channel that involves no intermediaries to made their products available to final buyers is classified as

  1. Direct channel
  2. Indirect channel
  3. Static channel
  4. Flexible channel
Answer

(A)Direct channel

QN35. Typically profit is negative in which stage of the product life cycle?

  1. Growth
  2. Maturity
  3. Introduction
  4. Decline
Answer

(C)Introduction

QN36. The Economic Order Quantity (EOQ) represents the order quantity for which:

  1. Inventory carrying cost per unit is lowest
  2. Order processing cost per unit is lowest
  3. Total inventory and order cost per unit is lowest
  4. None of these
Answer

(C)Total inventory and order cost per unit is lowest

QN37. Which of the following statement is true regarding break-even point:

  1. The profit at break-even point is 0
  2. Total revenue is more than total cost at break-even point
  3. Total cost is more than total profit at break-even point
  4. None of these
Answer

(A)The profit at break-even point is 0

QN38. Cost of setting up a warehouse is considered as ______________ cost and cost of overtime paid to workers is considered as a ______________ cost.

  1. Fixed, fixed
  2. Variable, fixed
  3. Fixed, variable
  4. Variable, Variable
Answer

(C)Fixed, variable

QN39. Identify the incorrect statement about multiple channels:

  1. Internet banking is an example of low cost channel that is offered by banks
  2. Customers usually use only one channel for all transactions even if multiple channels are offered
  3. Service sensitive customers prefer the full service channels
  4. Economic considerations should not be the only criteria for deciding what combination of channels to be used
Answer

(B)Customers usually use only one channel for all transactions even if multiple channels are offered

QN40. Segmentation is the process of:

  1. Dividing the market into homogenous groups
  2. Selecting one group of consumers among several other groups
  3. Creating a unique space in the minds of the target consumer
  4. None of these
Answer

(A)Dividing the market into homogenous groups

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