Marketing Management2nd Quiz 1 to 22 Lecture

By NajiRepeating Ignore

Which of the following is included in task environment?1. Select correct option:

EconomyTechnologyMediaPromotion

Tight cost control is associated with which of the following strategy?2. Select correct option:

Market segmentation strategyMarket dominance strategyDifferentiation strategyCost leadership strategy

Which one of the following tend to market high end goods and services and are able to use a premium pricing strategy in a specific market segment.

3. Select correct option:FollowersChallengersLeadersNichers

Financial summary of a marketing plan includes all EXCEPT:4. Select correct option:

Pro-forma income statementMonth-by-month agendaBreakeven analysisAssumptions

The loyalty marketing focuses on establishing long term relationship between:5. Select correct option:

Company and retailerRetailer and customerRetailer and consumerCompany and customer

Which of the following are called value maximizers?6. Select correct option:

SellersCustomers

MarketersManufacturers

Which of the following aggressive strategy is without direction?7. Select correct option:

ReactorAnalyzerDefenderProspector

The _____ is the central instrument for directing and coordinating the marketing effort.8. Select correct option:

Business planProduction planMarket planSelling plan

Which of the following can be used to improve the customer’s viewpoint about firm’s products and services?

9. Select correct option:Experiential innovationCustomer interfaceExperiential world of customersBuilding experiential platform

Which of the following is NOT a part of financial summary?10. Select correct option:

Financial requirementsPro-forma income statementMargin analysisBreak-even analysis

Which of the following is Not a component of a marketing plan?11. Select correct option:

Marketing advantagesEnvironmental analysisExecutive summaryMarketing implementation

Which of the following market dominance strategy involves less risk of competitive attacks?12. Select correct option:

ChallengersLeadersFollowersNichers

Pictures and specification of product are added in which of the following part of the marketing plan?

13. Select correct option:Financial summaryExecutive summarySituation analysisAppendix

Which of the following is NOT included in product decisions?14. Select correct option:

StylingBrand nameWarehousingPackaging

Insurance service would BEST be described as which kind of a product?15. Select correct option:

ConvenienceUnsoughtSpecialtyDurable

When any customer does not fully likes the product or talks in favor of the product, it is known as:

16. Select correct option:Bad – mouthWord of mouthBad impressionUnfavorable products

Which of the following 4Ps of marketing mix involves decisions regarding brand images, sizes, warranties, returns, designs and features?

17. Select correct option:ProductPricePromotionPlace

Which of the following BEST describes the consumer’s preference for products that are widely available to them?

18. Select correct option:Production conceptMarketing conceptSelling conceptProduct concept

Which of the following is the period when sales fall off and profits drop?19. Select correct option:

IntroductionGrowthMaturityDecline

In the _____, the firm faces a trade-off between high market share and high current profit.20. Select correct option:

Introduction stageGrowth stageMaturity stageDecline stage

The growth stage of a product life cycle is associated with:21. Select correct option:

Rapidly rising salesLow salesDeclining salesLow profit

All of the following are the examples of controllable factorsEXCEPT:22. Select correct option:

Line of businessCorporate cultureOverall objectives of organizationsCompetition in the market

Core competency guides a firm recombining its abilities in response to demands from the:23. Select correct option:

RetailerWholesalerEnvironmentSupplier

Additional cost is associated with which of the following strategy?24. Select correct option:

Market segmentation strategyMarket dominance strategyDifferentiation strategyCost leadership strategy

Identify which of the following is an aggressive strategy.25. Select correct option:

IntensificationDiversification

HarvestingVertical integration

Retailers are considered under which of the following environment?26. Select correct option:

BroadWeakTaskCompetitive

Which of the following BEST describes the definition of marketing mix?27. Select correct option:

The way business distribute the products in the marketThe way product are arranged in the storesThe way product is pricedThe way business elements are combined to meet the needs of customers

Identify the strategy that deals with the rate of new product development.28. Select correct option:

Vertical integrationHorizontal integrationInnovation strategyAggressiveness strategy

In which of the following marketing strategy companies develop the brand name, brand image and product portfolio analysis?

29. Select correct option:ProductPricingPromotionDistribution

The decisions regarding bundling of a product are related to:30. Select correct option:

ProductPriceDistributionPromotion

Which of the following is the period when sales become very low and profits drop?31. Select correct option:

IntroductionGrowthMaturityDecline

Which of the following is the task of selecting an overall company strategy for long-run survival and growth?

32. Select correct option:Mid-term planningShort-term planningAnnual market planningStrategic market planning

All of the following are the examples of unsought goods EXCEPT:33. Select correct option:

Course booksEncyclopediaFuneral plotsInsurance policy

A customer requirement about any product in which he/ she needs to avail core features in that product, is called:

34. Select correct option:Real needStated needUnstated needDelighted need

Which of the following is known as a set of marketing tools used by the firms to pursue its marketing objectives in the target market?

35. Select correct option:Marketing mixPromotion mixOffering mixProduct mix

When a firm attempts to increase sales during the maturity stage of the PLC by changingone or more marketing mix elements, it is _____.

36. Select correct option:Improving advertisingChanging promotionModifying the marketing mixIncreasing promotion budget

Which of the following is NOT a purpose of a marketing plan?37. Select correct option:

It specifies how resources are to be allocatedIt co-ordinates marketing and production activitiesIt assigns responsibilities, tasks and timingIt assists in management control

Which of the following is NOT a type of vertical integration?38. Select correct option:

Unbalanced vertical integrationBalanced vertical integrationForward vertical integrationBackward vertical integration

A product is showing rapidly rising sales and profits are also high. Identify the product is at:39. Select correct option:

Introduction stageGrowth stageMaturity stageDecline stage

Which of the following is an advantage that enables business to survive against its competition over a long period of time.

40. Select correct option:Marketing advantageSustainable competitive advantageCore competencyCompetitive advantage

In term of marketing mix, a television show like Tariq Aziz show is an example of:41. Select correct option:

ProductPricePlacePromotion

Which of the following is NOT a force in the macro environment?42. Select correct option:

CulturalPoliticalEconomicSupplier

Which of the following represent the companies which prefer to follow rather than challenge?43. Select correct option:

Market challengerMarket followerMarket nicherMarket leader

Market –oriented firms focus on:44. Select correct option:

Retailers

DistributorsCustomersWholesalers

In which stage of the product life cycle does a product reach its peak sales?45. Select correct option:

IntroductionGrowthMaturityDecline

Sales decline in the decline stage of the PLC because of technological advances, increased competition, and _____.

46. Select correct option:Shifts in unemploymentShifts in the economyShifts in consumer tastes and preferencesForeign imports

Which of the following are products and services bought by final consumers for personal consumption? These include convenience products, shopping products, specialtyproducts, and unsought products.

47. Select correct option:Material and partsConsumer productsIndustrial productsCapital items

Need becomes ________ when they are directed towards a specific object.48. Select correct option:

Actual needWantSatisfactionDemand

Which of the following is TRUE about marketing concept?49. Select correct option:

The customer is always rightBusiness is about making moneySell, sell, and sellKeep prices low

Identify the products that the customer usually buys frequently and with a minimum of comparison and buying effort.

50. Select correct option:Specialty

ConvenienceUnsoughtAugmented

Which of the following is also called an Export market?51. Select correct option:

Consumer marketBusiness marketGlobal marketGovernment market

Which of the following emphasizes on profit margins rather than revenue?52. Select correct option:

Market leaderMarket challengerMarket nicherMarket follower

Which of the following is a strategic planning method that some organizations use to make flexible long-term plans?

53. Select correct option:MonitoringForecastingScenario planningGuerrilla marketing

The consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort arecalled:

54. Select correct option:Industrial productsSpecialty productsUnsought productsShopping products

The marketing plan should open with a brief summary of the main goals and recommendations. This is called:

55. Select correct option:Business analysisSituation analysisExecutive summaryMission statement

Which of the following tells about the details of the plan?56. Select correct option:

Title page

Market analysisMarketing strategyExecutive summary

Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers?

57. Select correct option:IntroductionGrowthMaturityDecline

Which of the following is NOT a part of broad environment?58. Select correct option:

EconomyDemographicsTechnologyCorporate culture

Buying and selling of mass consumer goods and services comes under which of the following markets?

59. Select correct option:Business marketsGlobal marketsConsumer marketsGovernment markets

Among the various elements, the brand name, belongs to which of the following?60. Select correct option:

Core productActual productAugmented productSpecialty product

While considering the place for a product which of the following is important for customer.61. Select correct option:

CommunicationConvenienceCostSolution

ABC Company has introduced a new beverage in the market. The company must inform customers about the availability and the benefits of the beverage. Identify the activitiy of marketing mix involved.

62. Select correct option:Place

PricePromotionProduct

Which of the following is usually the target of a market challenger?63. Select correct option:

Market nicherMarket leaderMarket followerMarket segment

The consumer’s estimate of the product’s overall capacity to satisfy his or her needs is called:64. Select correct option:

Product CostProduct ValueProduct needProduct Satisfaction

Product planners need to think about products and services on three levels. Each level adds more customer value. The most basic level is the _____, which addresses thequestion, “What is the buyer really buying?”

65. Select correct option:Augmented productActual productCore benefitSpecialty product

Which of the following markets involve buying and selling of goods for their utility and enabling them to make or re-sell a product to others?

66. Select correct option:Consumer marketsBusiness marketsGlobal marketsGovernment markets

Relationship marketing is also known as:67. Select correct option:

Brand marketingValue marketingLoyalty marketingExperiential marketing

Which of the following is an example of ancillary service?68. Select correct option:

warrantyPromotion

LabelingPackaging

Which one of the following BEST describes the human need?69. Select correct option:

FoodFrench-friesBurgerPizza

Aggressive selling is a characteristic of which of the following concept of marketing?70. Select correct option:

Production conceptMarketing conceptSelling conceptProduct concept

A firm is producing standardized products and enjoying the economies of scale byproducing more. The firm is following which of the following strategy?

71. Select correct option:Differentiation strategyCost leadership strategyMarket dominance strategyMarket segmentation strategy

Which of the following 4Ps of marketing mix involves decisions regarding channels coverage, assortments, locations, inventories or transports?

72. Select correct option:ProductPricePlacePromotion

Which of the following firms emphasis on product’s benefits to the customers rather than on product attributes.

73. Select correct option:Product orientedMarket orientedSales orientedProduction oriented

Which of the following is a controllable factor for marketers?74. Select correct option:

CompetitionTechnologyCorporate culture

Economy

Which of the following is NOT a technique of measuring customer satisfaction and monitoring customer’s complaint?

75. Select correct option:Customer complaints databaseExit interviewsWeb and telephone information hotlinesBusiness Analysis

Decisions regarding covering area of a product are included in which of the following marketing strategy of a market plan?

76. Select correct option:DistributionPromotionPricingProduct

Which of the following stage in the PLC is characterized by rapid market acceptance, increasing sales, and increasing profits?

77. Select correct option:IntroductionGrowthMaturityDecline

A company designs the product with little or no input from customers, the company is practicing which of the following concept?

78. Select correct option:Product conceptMarketing conceptSelling conceptProduction concept

Which of the following gives the exact position of a company’s product with respect to market?79. Select correct option:

Market analysisConsumer analysisMacro analysisMicro analysis

Which of the following has a quick response towards a new product?80. Select correct option:

Early majorityEarly adoptersLate majority

Laggards

Which of the following is NOT included in business analysis?81. Select correct option:

Management analysisCost analysisSales forecastProfit analysis

A brand which cost more than other products is called:82. Select correct option:

Premium brandEconomy brandCo-brandFamily brand

The purchase of which of the following items is least likely to be affected by demographic factors?

83. Select correct option:CarFurnitureComputerSugar

The label on a soft drink can be read "cool and refreshing." For what reason these words are used?

84. Select correct option:To encourage multiple purchasesTo provide informationTo promote the productTo satisfy legal requirements

Which of the following is a major determinant of demand for the product in the market?85. Select correct option:

PlanningPromotionPricePlace

Which of the following is NOT an external source of idea generation?86. Select correct option:

Top managementCompetitorsSuppliersCustomers

Which of the following is the price which company receives after accounting for discounts, allowances, promotions, and other incentives?

87. Select correct option:PremiumCooperativeEffectiveEfficient

Which of the following is the first step in the new product development process?88. Select correct option:

Idea generationIdea developmentIdea screeningIdea testing

Which of the following is a strategy of using a successful brand name to launch a new ormodified product in a new category?

89. Select correct option:Line extensionCo- brandingBrand extensionMultibranding

In the product adoption process, the consumer is stimulated to seek information about theinnovation at which of the following stage?

90. Select correct option:InterestTrialAwarenessEvaluation

All of the following are reasons, people will buy a premium priced product, EXCEPT:91. Select correct option:

Self-interestFlawless performanceSign of self-worthIndication of good quality

A brand which is created and owned by a reseller of a product or service is known as:92. Select correct option:

Co-brandPrivate brandManufacturer's brandLicensed brand

Which of the following method is mostly used in the retailing?

93. Select correct option:Courier serviceOnline shopsSelf-serviceCounter-service

A secondary use package can best be defined by which of the following?94. Select correct option:

Can be used as a promotional toolCan be reused for purposes other than its initial useFacilitates transportation, storage, and handling for middlemenIs recyclable and environmentally safe

Which of the following is NOT a part of consumer adoption process?95. Select correct option:

ConvenienceTrailEvaluationInterest

Which of the following is considered as dead end of distribution?96. Select correct option:

PromotionWarehousingWholesalingRetailing

The most flexible element of marketing mix which can be changed quickly is:97. Select correct option:

PromotionPricePlaceProduct

Which of the following explains the description of the product?98. Select correct option:

BrandContainerLabelingPackaging

Critical path analysis is useful at which stage of the product development Process?99. Select correct option:

CommercializationConcept developmentBeta testing

Business Analysis

Which of the following sets floor for the price that company can charge for its product?100. Select correct option:

ProductPremiumPromotionCost

Price is the only element in the marketing mix that produces:101. Select correct option:

Fixed costExpenseVariable costRevenue

In which of the following company specifically creates a brand to counter a competitive threat?102. Select correct option:

Fighting brandCo-brandFamily brandIndividual brand

Identify the type of packaging for ice creams.103. Select correct option:

Primary packagingSecondary packagingTransport packagingDecorative packaging

Which of the following is used to test the customer preference about the new productdesign?

104. Select correct option:Concept testingConjoint analysisBeta testingBusiness Analysis

Identify the commercialization decision which involves decisions regarding launch of product in single or multiple localities?

105. Select correct option:Why to launch the product?How to launch the product?Where to launch the product?When to launch the product?

A firm is developing a new product and has placed the advertisement of the product. The firm is at which stage of the new product development process?

106. Select correct option:CommercializationConcept developmentBeta testingBusiness Analysis

The price of an executive is:107. Select correct option:

PremiumCostSalaryWage

Which of the following is also called as prestige price?108. Select correct option:

Skimming pricePenetration pricePsychological pricePremium price

At which of the following stage of consumer adoption process the consumer decides whether to use the product or not?

109. Select correct option:AwarenessInterestTrialEvaluation

Which of the following involves designing and manufacturing the container or wrapper for a product?

110. Select correct option:LabelingBrandingProduct linePackaging

Idea-reducing stage of new product development process is called:111. Select correct option:

Concept developmentProduct conceptIdea screeningIdea generation

Which of the following takes place at retailer’s end?

112. Select correct option:PromotionPlacingPricingExchange

During which stage of new product development does the firm consider profitability?113. Select correct option:

Idea generationBusiness analysisMarket testingProduct development

Which of the following element of marketing mix customer analyzes at the last, taking a decision of buying a particular product?

114. Select correct option:PromotionPlacePriceProduct

In which of the following company introduces new brand names under the same product category?

115. Select correct option:MultibrandsBrand extensionLine extensionNew brands