Q1: When the physical product cannot be easily differentiated, the key to competitive success may lie in adding valued services and improving their quality. A company does so by providing Miscellaneous Services, offering an improved product warranty or maintenance contract; it can also offer rewards, provide customer training, etc. this is known as —- differentiation. b) service
a) product
b) service
c) image
d) None of these
Answer
Q2: Some companies produce products that need the use of ancillary products such as razors and manufacturers of Inkjet or Laser printers. They follow —- a) captive product pricing
a) captive product pricing
b) product range pricing
c) perceived value pricing
d) two-part pricing
Answer
Q3: Caterpillar, Nikon, and Canon products set prices high to reflect —- a) image
a) image
b) quality
c) identity
Answer
Q4: In product variety marketing, the company operates in several markets with different products for each market. a) True
a) True
b) False
Answer
Q5: Objectives are an organization’s performance targets — the results and outcomes it wants to achieve. a) True
a) True
b) False
Answer
Q6: Consumption is shaped by the family life-cycle. a) True
a) True
b) False
Answer
Q7: Most segmentation approaches involve both geographic and demographic descriptors. a) True
a) True
b) False
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Q8: When the want is backed by purchasing power, it is called the need. a) True
a) True
b) False
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Q9: The role of product management does not constitute many activities from strategic to tactical and varies based on the organizational structure of the company. a) True
a) True
b) False
Answer
Q10: Marketing firms which are small and medium in size cannot afford to set up their own advertising departments or divisions. a) True
a) True
b) False
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Q11: Successful companies have no common trait. a) True
a) True
b) False
Answer
Q12: The nature of one’s occupation does not influence buying behavior. a) True
a) True
b) False
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Q13: In Image Differentiation, identity and image need to be distinguished. Identity comprises the ways that a company aims to identify or position itself or its products. a) True
a) True
b) False
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Q14: Customers generally experience satisfaction when the performance level meets or exceeds the minimum performance expectation levels. a) True
a) True
b) False
Answer
Q15: There are three types of environmental forces. a) True
a) True
b) False
Answer
Q16: The concept of product life cycle is concerned with the sales history of a product. a) True
a) True
b) False
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Q17: Stage One is a situational analysis and is the starting point of strategic planning. a) True
a) True
b) False
Answer
Q18: Pricing strategies help to realize pricing objectives and answer different aspects regarding how will price be used as a variable in the marketing mix, such as new product introductions, etc. a) True
a) True
b) False
Answer
Q19: Demographic and psychographic profiles work best when combined together because combined characteristics reveal very important information about target markets. a) True
a) True
b) False
Answer
Q20: Product Line Pricing is where there is a range of product or services, and the pricing reflects the benefits of parts of the range. a) True
a) True
b) False
Here are the additional MCQs with their correct answers:
Answer
Q21: The consistency of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way. b) False
a) True
b) False
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Q22: Product line decisions is a product line is too short if profits can be increased by adding items, the line is too long if profits can be increased by dropping items. a) True
a) True
b) False
Answer
Q23: State whether the following statement is True or False: A company’s mission statement is not focused on its present business scope. a) True
a) True
b) False
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Q24: Market segmentation is customer-oriented and thus it is consistent with the marketing concept. a) True
a) True
b) False
Answer
Q25: Effective communication requires an effective strategy – a coherent plan of action. a) True
a) True
b) False
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Q26: Intermediaries, that buy the basic product from producers and add value to it or depending on the nature of the product modify it, and then resell it to final customers are known as : Option 3: value-added retailers
Option 1: wholesalers
Option 2: retailers
Option 3: value-added retailers
Option 4: dealers
Option 5:
Answer
Q27: There are three basic targeting strategies, Undifferentiated Mass Marketing, Differentiated Multiple Segment Marketing, Single Segment Specialization. a) True
a) True
b) False
Answer
Q28: 2P + 2C + 3S formula: Personalization, Privacy, Customer Service, Community, Site, Security, Sales Promotion a) True
a) True
b) False
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Q29: Companies need to categorize segments according to their present and future attractiveness and their company’s strengths and capabilities relative to different segments’ needs and competitive situation. a) True
a) True
b) False
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Q30: The way people perform their biological activities such as eating culturally cannot be determined. b) False
a) True
b) False
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Q31: State whether the following statement is true or false? Customers come to know a brand through a wide range of contacts and touch points. These include word of mouth, personal interactions with company people, telephone interactions, and company Web pages. Many brands are not maintained by advertising but by brand experience. a) True
a) True
b) False
Answer
Q32: The last link in many marketing channels, distributors sell directly to final customers. a. True
a. True
b. False
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Q33: A company’s strategy does not consist of the combination of competitive moves and business approaches that managers employ to please customers. a) True
a) True
b) False
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Q34: Motivation programs for channel intermediaries, focus mainly on one from the following : Option 4: Fiscal measures
Option 1: Job rotation
Option 2: Financial and non-financial rewards
Option 3: On-the-job training
Option 4: Fiscal measures
Answer
Q35: A marketer usually sells a specific combination of need-satisfying products or services, and additional services like warranty or guarantee. a) True
a) True
b) False
Answer
Q36: Markets have to go beyond the various influences on buyers and develop an understanding of how consumers actually make their buying decisions. a) True
a) True
b) False
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Q37: Production Concept is a concept where goods produced are taken into consideration the choices or tastes of your customers. b) False
a) True
b) False
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Q38: Activities and interests cover behaviors with respect to activities other than occupation to which consumers devote time and effort, such as hobbies, interests, social service. a) True
a) True
b) False
Answer
Q39: Manufacturers’ decision processes are the decision-making processes undertaken by consumers in regard to a potential market transaction before, during, and after the purchase of a product or service. a) True
a) True
b) False
Answer
Q40: The company that captures the largest share of the market may not have the lowest per unit cost because of economies of scale and experience. a) True
a) True
b) False
Answer
Video MCQ with answer of UPES Marketing Managment
