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MGT301 Principles of Marketing Solved MCQs from Quiz # 05

MGT301 Principles of Marketing Solved MCQs from Quiz # 05


A distinguishing feature of a contractual VMS (vertical market system) is the coordination and conflicts among the independent members of the channel are attained through _____. 

Select correct option: 

 Oral agreements

 Working partnerships

 Contractual agreements

 Natural competitive forces

Reference

The objective of which of the following research is to gather preliminary information that helps to better define problems and suggest hypotheses for their solution? 

Select correct option: 

 

 Exploratory research  

 Descriptive research  

 Casual research  

 Observational research

Current view holds that salespeople should be concerned with producing customer satisfaction and company profit. So whom do they NOT generally serve? 

Select correct option: 

 

 They represent the company to customers

 They represent the company to investors

 They represent the customer to the company

 None of the above

reference

All of the Ahmad’s friends try to copy his style, his dressing and the way he speaks. He is also considered as one of the most reliable person in the group. Ahmad is regarded as a/an: 

Select correct option: 

 Group member

 Opinion Leader

 Group Moderator
All of the given options

Bunny bread is mostly used in breakfast times in different areas ofLahore. Manufacture of Bunny bread has made this for all type of customers ranging from housewives to children and teens to old people. Bunny bread is using which of the following market coverage strategy? 

Select correct option: 

 Differentiated

 Undifferentiated

 Concentrated

 None of the given option

Buy it now” refers to which one of the following options? 

Select correct option: 

 

 Personal selling 

 Advertising

 Sales promotion

 Publicity

Following activities are the part of marketing process EXCEPT which of the following? 

Select correct option: 

 

 Analyzing marketing opportunities

 Selecting target markets

 Developing the business portfolio

 Managing the marketing effort

The marketing process consists of four steps: analyzing market opportunities; developing marketing strategies; planning marketing programs, which entails choosing the marketing mix (the four Ps of product, price, place, and promotion); and organizing, implementing, and controlling the marketing effort.

At least how many parties should be included in “Exchange”? 

Select correct option: 

 Two 

 Three

 Four

 Five

 The buyer decision process consists of five stages. Which of the following is NOT one of these stages? 

Select correct option: 

 Evaluation of Alternatives

 Information search

Variety-seeking buying behavior

 Post purchase behavior

It is a buying behavior not the process of buying decision making.

Publics including workers, managers, volunteers and the board of directors show which of the following publics? 

Select correct option: 

 

 Citizen-action publics

 Local publics

 General publics

 Internal publics

Internal publics include everyone who is an integral part of the organization. Employees are the most obvious and most numerous internal publics.

Planning that involves developing a strategy to meet competition and ensure long-term survival and growth” represents which one of the following planning types 

Select correct option: 

 Long-range planning 

 Short-range planning 

 Annual planning 

 Strategic planning 

If ABC Company observes all compact disc customers as pretty much alike and thus offered only one marketing mix, it would be using which of the following approach? 

Select correct option: 

 Heterogeneous

 Undifferentiated

 Differentiated

 Concentrated

Undifferentiated marketing - Sometimes referred to as mass marketing the firm may decide to aim its resources at the entire market with one particular product. Coca Colas original marketing strategy was based on this form.

What is the purpose of intranets? 

Select correct option: 

 Buying and selling processes

 Business-to-business purchasing

 Communication among employees

 Maintaining customer relations

ABC Company got the 2 new ideas regarding its XYZ product from customers. One idea is to develop a new version of product which is suitable for only elite classes and caters a small segment of market. Other idea is to make ingredients of product better to acceptable to a mass market at affordable price. ABC Company is in which stage of product development? 

Select correct option:  

 Idea Generation

 Idea Screening

 Concept Development

 Product Development

Idea screening reduces the number of ideas pooled during idea generation– by spotting good ideas and dropping poor ones.

Nestle company is dealing in large number of products like milk, mineral water, juices, dairy creams and ghee. These products are called: 

Select correct option: 

 Profit portfolio

 Product portfolio

 Business portfolio

 Market portfolio

Product portfolio refers to the range of products manufactured or supplied by an organization.

In summer season, WAPDA used to place ads on the electricity bill to promote the less usage of electricity. In Marketing Management perspective what is this called? 

Select correct option: 

 Demand Management

 De-marketing

 Societal Marketing

 Electricity Management

Definition of Social marketing:

“Social marketing seeks to influence social behaviors not to benefit the marketer, but to benefit the target audience and the general society."

Provide more quality products and services without variation in the quality” refers to which of the following marketing functions? 

Select correct option: 

 Standardizing and grading

 Transporting

 Storing

 Selling

Handouts: Page no.13

During the new product development process, the creation of a large pool of ideas for potential new products is the primary goal of which one of the following steps? 

Select correct option: 

 Idea generation

 Idea screening

 Concept development

 Prototype development

Which one of limited services wholesalers don’t carry or handle the product: 

Select correct option: 

 

Cash and carry wholesalers

 Drop shippers

 Truck wholesalers

 Rack jobbers

Reference

You are planning to install a steel manufacturing plant in your city. For that purpose you want to have a supplier who supplies you the steel in raw form for manufacturing. Here supplier supplies you which of the following form of industrial product?

Select correct option:

Material and parts

Capital items

Supplies and services

None of the given options

Which promotion mix ingredient costs considerably more than advertising to reach one person but can provide more immediate feedback?

Select correct option:

Publicity

Sales promotion

Personal selling

Public relations

The cost of reaching one person through personal selling is considerably more than through advertising, but personal selling efforts often have greater impact on customers.  

Setting low prices to encourage initial product trial and to generate sales growth reflects which one of the following pricing method?

Select correct option:

Penetration pricing

Skimming pricing

Competition-Based Pricing

Cost-Based Pricing

Penetration Pricing is a strategic move where a certain product of an organization is introduced to the market in an undeniably lower price value compared to the regular prices of this product in the market.  One of the main goals of this strategy is to attract buyers or consumers to try this new product and likewise to promote it to the users in order to increase its demand. 

 Mr. A's girlfriend tells him she wants jewellery for Christmas. He decides to go to a store that provides the best possible selection of jewellery. His best choice would be to shop at a ________ store.

Select correct option:

Department

Discount

Specialty

Convenience  

There are __ ways through which the organizations change their prices to meet the change in demand of a product.

Select correct option:

 

1

2

4

5

Gillette was the first marketer of disposable razors to offer a product specifically designed for men. This is an example of segmentation using which of the following variables?

Select correct option:

 

Demographic

Psychographic

Geographic

Product use

Whether the price raised or lowered, the action will affect on:

Select correct option:

Buyers

Competitors

Competitors

All of above 

Whether the price is raised or lowered, the action will affect buyers, competitors, distributors, and suppliers and may interest government as well.   

If Proctor and Gamble, the makers of Ariel, need to know what percentage of customers examines product labels before making a product selection in the supermarket? By which method this study would be accomplished?

Select correct option:

Focus groups

Mail surveys

Personal interviews

Observation 

Annual licensing fees and monthly rent for a day care center are examples of which one of the following costs?

Select correct option:

Fixed costs

Variable costs

Derived costs

Total costs

In which strategy company spend a lot on advertising and consumer promotion to build up consumer demand, if successful then consumer will ask their retailers for the product, the retailer will ask the wholesalers and wholesalers will ask the producers.

Select correct option:

Pull Strategy

Positioning Strategy

Push Strategy

Segmentation Strategy

Pull strategy is the promotional strategy that calls for spending a lot on advertising and consumer promotion to build up consumer demand; if successful, consumer will ask their retailers for the product, the retailer will ask the wholesalers and wholesalers will ask the producers.

Most of fast moving consumer goods (FMCG) companies are using _____ for the distribution of their products.

Select correct option:

Intensive Distribution

Exclusive Distribution

Selective Distribution

None of above

Intensive Distribution:

  • Distribution through every possible outlet…..FMCG

If a company raises its price per unit, but keeps total fixed cost and variable cost per unit the same, the break-even point will be lower.

Select correct option:

True

False

As a simple mathematical identity, raising prices increases contribution per unit, which lowers the number of units required to break even.

“How are you telling consumers in your target group about your product” This question belongs to which marketing concept?

Select correct option:

Product

Price

Place

Promotion

Which of the following is NOT an internal factor while setting the price of a new product?

Select correct option:

Marketing Strategy

Objectives

Marketing Mix

None of the above

All of the above are the internal factors for setting a price for new product.

For a day care center, disposable diapers, juice boxes, cleaning supplies and electricity are examples of which one of the following costs?

Select correct option:

Fixed costs

Variable costs

Derived costs

Total costs

Which one of the following is suspicious of change and adopts only after the product is no longer considered an innovation?

Select correct option:

Late majority

Early Adopter

Early Majority

Laggards

Laggards: This group is suspicious of change and adopts only after the product is no longer considered an innovation.

Economic factors focus on which one of the following concepts?

Select correct option:

Level of economic development

Bureaucracy

Behavioral pattern

Stability of government

Hybrid marketing channels are also known as

Select correct option:

Vertical Marketing Systems

Horizontal Marketing Systems

Multinational Distribution Systems

None of above

In the past, many companies used a single channel to sell to a single market or market segment. Today, with the proliferation of customer segments and channel possibilities, more and more companies have adopted multichannel distribution systems—often called hybrid marketing channels.

When a toy manufacturer advertises a product on Saturday-morning television and tells children to ask for the product at their favorite toy shops, it is implementing which one of the following policies from its promotion mix?

Select correct option:

Differentiated

Penetration

Push

Pull

Reference

An MIS consists of people, equipment, and procedures to gather, sort, ___, evaluate, and distribute information to marketing decision makers.

Select correct option:

Test

Test market

Analyze

Assesses

Which of the following three psychographic dimensions are MOST commonly used in market segmentation?

Select correct option:

Personality, perception and learning

Personality, perception and behavior

Motives attitudes and lifestyles

Personality, social class and lifestyles

Psychographics segmentation

It calls for dividing a market into different groups based on social class, lifestyle, or personality characteristics.

Which of the following is a way in which a firm can respond to the price change by the competitor?

Select correct option:

 

Reduce price

Reduce the quality

Improve the quality

Increase the price

 

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