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MKT501 Final Term 2010 Paper Solved with Reference - Marketing Management (MH)

FINALTERM  EXAMINATION

Spring 2010

MKT501- Marketing Management

by Dasht_E_Tanhai

Solved by vuZs Team

Mehreen Humayun

www.vuzs.net

Time: 90 min

Marks - M - 69

MKT501 - Marketing Management - Q.No. 1    ( M - 1 )    .

Which of the following stage of product life cycle is most expensive?

 

► Introduction 

► Growth 

► Maturity 

► Decline 

Market introduction stage: Cost high, Sales volume low, Losses

 

MKT501 - Marketing Management - Q.No. 2    ( M - 1 )    . 

In which of the following demand for the product reduces because of technological advances, shifts in consumer tastes and increased competition?

 

► Introduction stage 

► Growth stage 

► Maturity stag 

► Decline stage 

Decline stage: Fourth and last stage of a product's life cycle, characterized by fast declining sales revenue and fewer customers. Generally caused by (1) obsolescence, (2) Changes in customer preferences, 3) Global competition

(4) New regulatory requirements, such as environmental protectionlaws.

 

MKT501 - Marketing Management - Q.No. 3    ( M - 1 )    . 

Which of the following is the degree to which new product matches the values and experiences of the individuals in the community? 

 

► Innovation communicability 

► Innovation divisibility 

Innovation compatibility

► Innovation complexity 

Ref: Compatibility: The degree to which new product matches the values and experiences of the individuals in the society.

 

MKT501 - Marketing Management - Q.No. 4    ( M - 1 )    . 

Which of the following is the leak-proof packaging that provides additional protection for the primary container?

 

► Primary packaging 

► Secondary packaging 

► Transport packaging 

► Decorative packaging 

Ref: Secondary packaging: Leak-proof packaging that provides additional protection for the primary receptacle(s); it may include absorbent material.

 

MKT501 - Marketing Management - Q.No. 5    ( M - 1 )    . 

ABC Co., a major Swedish multinational, provides an example of the power of innovative packaging and customer thinking. ABC Co. is involved in which of the following types of packaging that enables milk, fruit juice, and other perishable liquid foods to be distributed without refrigeration? 

 

► Boxes 

► Blister packs 

► Cartons 

► Aseptic packages 

Ref: There are a large number of products in aseptic packages.  These include soy milks, rice drinks, juices, tomatoes, soups, tofu, sports drinks, liquid eggs, and concentrates, cocktail mixes, whipping cream, infant nutritional beverages, teas, sauces and gravies.

 

MKT501 - Marketing Management - Q.No. 6    ( M - 1 )    . 

Which of the following brands is created specifically to counter a competitive threat? 

 

► Premium brand 

► Economy brand 

► Fighting brand 

► Corporate brand 

A fighting brand is a brand created specifically to counter a competitive threat.

 

MKT501 - Marketing Management - Q.No. 7    ( M - 1 )    . 

Which of the following is a name, term, sign, symbol, design, or a combination of these, that identifies the product or service?

 

► Label 

► Co-brand 

► Brand 

► Product 

Ref: A brand is the identity of a specific product, service, or business. A brand can take many forms, including a name, sign, symbol, colour combination or slogan.

 

MKT501 - Marketing Management - Q.No. 8    ( M - 1 )    . 

When two or more well known brands are combined in an offer it is called: 

 

► Private brand 

► Multibrands 

► Co-brand 

► New brand 

When two or more brands work together to market their products, this is referred to as Co-branding.

 

MKT501 - Marketing Management - Q.No. 9    ( M - 1 )    . 

To attract customers into stores, the store advertises its milk at a price less than cost, hoping that customers will purchase other groceries as well. Milk is acting as which of the following?

 

► Premium item 

► On- sale item 

► Discounted item 

► Loss leader 

LOSS LEADER: In marketing, a loss leader is an item that is sold below cost in an effort to stimulate other profitable sales.

 

MKT501 - Marketing Management - Q.No. 10    ( M - 1 )    . 

Which of the following way of advertising can be used to attract passing pedestrian? 

 

► Sponsorships 

► Commercials 

► Billboards 

► Catchy jingles 

Traditional Billboards: Roadside billboards frequently encourage passersby to visit local businesses.

 

MKT501 - Marketing Management - Q.No. 11    ( M - 1 )    . 

Which of the following is the basic role of promotion?

 

► Interpretation 

► Communication 

► Manipulation 

► Information 

Promotion involves disseminating information about a product, product line, brand, or company.

 

MKT501 - Marketing Management - Q.No. 12    ( M - 1 )    . 

Which of the following is NOT generally recognized as an element of the promotion mix? 

 

► Sales promotion 

► Pricing 

► Public relations 

► Advertising

Promotional mix such as advertising, sales promotion, public relations, and publicity. 

 

MKT501 - Marketing Management - Q.No. 13    ( M - 1 )    . 

IMC stands for what?

 

► Internal marketing community 

► Integrated managing company 

► Internal marketing communication 

► Integrated marketing communication 

 

MKT501 - Marketing Management - Q.No. 14    ( M - 1 )    . 

Which of the following offers an incentive to buy a product?

 

► Direct mail 

► Public relations 

► Sales promotion 

► Advertising 

Sales promotion: A diverse collection of incentive tools, mostly short term, designed to stimulate quicker &/or grater purchase of particular products/services by consumers or the trade. Where advertising offers a reason to buy, sales promotion offers an incentive to buy.

 

MKT501 - Marketing Management - Q.No. 15    ( M - 1 )    . 

Which of the following is NOT a medium used for advertising?

 

► Publicity 

► Print media 

► Television 

► Radio 

 

MKT501 - Marketing Management - Q.No. 16    ( M - 1 )    . 

Lost-and-found advertising on papyrus was common in which of the following:

 

► Rom and India 

► Greece and India 

► Rom and China 

► Greece and Rom 

Egyptians used papyrus to create sales messages and wall posters, while lost-and-found advertising on papyrus was common in Greece and Rome.

 

MKT501 - Marketing Management - Q.No. 17    ( M - 1 )    . 

Which of the following is NOT the form of complex sales? 

 

► Real estate development 

► Large fleet vehicle sales 

► Mining equipment sales 

► Commercial goods sales 

Forms of complex sales:

  • §Commercial insurance sales
  • §Real Estate development
  • §Large fleet vehicle sales
  • §Mining equipment sales (ie Caterpillar tractors and large tunnel boring machines)
  • §Scientific Solution Sales (Data analysis and management)

 

MKT501 - Marketing Management - Q.No. 18    ( M - 1 )    . 

Which type of sales involves long sales cycles with multiple decision makers? 

 

► Electronic sales 

► Consultative sales 

► Complex sales 

► Direct sales 

Complex sales involve long sales cycles with multiple decision makers. Multiple stakeholders and stakeholder groups contribute to every complex sale.

 

MKT501 - Marketing Management - Q.No. 19    ( M - 1 )    . 

Which of the following is an advantage of sales force management system for marketing manager? 

 

► Identifying the best customers 

► Identifying segments within market 

► Identifying target market 

► All of the given options 

 

MKT501 - Marketing Management - Q.No. 20    ( M - 1 )    . 

Identify the type of promotion in which companies use celebrities for promotion.

 

► Personal selling 

► Sales promotion 

► Publicity 

► Public relation 

Publicity is the means of using an external entity (celebrities, people from the media, etc) to increase the awareness levels of the product, company, goods etc amongst the public and/or buying segment.

 

MKT501 - Marketing Management - Q.No. 21    ( M - 1 )    . 

What is the intention of vertical marketing for retailers and wholesalers?

 

► Increase cost 

► Reduce channels 

► Reduce control 

► Increase control 

 

MKT501 - Marketing Management - Q.No. 22    ( M - 1 )    . 

Which of the following is NOT a production decision?

 

► Delivery of goods 

► Contracting 

► Planning process 

► Scheduling 

Production decisions, including contracting, locations, scheduling, and planning process definition.

 

MKT501 - Marketing Management - Q.No. 23    ( M - 1 )    . 

Which of the following is a performance measure of efficiency of organization’s logistics? 

 

► Logistics engineering 

► Market logistics 

► Landed cost 

► Market growth 

Logistic Engineering deals with the science of Logistics.

 

MKT501 - Marketing Management - Q.No. 24    ( M - 1 )    . 

Which of the following is NOT a method of retailing?

 

► Counter-service 

► Cross-selling 

► Self-service 

► Online shop 

Even though most retailing is done through self-service, many shops offer counter-service items.

 

MKT501 - Marketing Management - Q.No. 25    ( M - 1 )    . 

Which of the following is NOT a psychological need? 

 

► Need for affection 

► Need for food 

► Need for water 

► Need for sleep 

The physiological needs of the organism, those enabling homeostasis, take first precedence. These consist mainly of:

• The need to breathe

• The need to eat

• The need to dispose of bodily wastes

• The need for sleep

• The need to regulate body temperature.

 

MKT501 - Marketing Management - Q.No. 26    ( M - 1 )    . 

Identify the projective technique in which a picture is shown and respondents are asked to make the story.

 

► Role playing 

► Cartoon test 

► Story completion 

► Thematic apperception test 

Thematic apperception tests - respondents are shown a picture (or series of pictures) and asked to make up a story about the picture(s).

 

MKT501 - Marketing Management - Q.No. 27    ( M - 1 )    . 

A corporate VMS has the advantage of controlling the entire distribution chain under which of the following?

 

► A few intermediaries 

► Mass distribution 

► Single ownership 

► A profit-maximizing strategic plan 

 

MKT501 - Marketing Management - Q.No. 28    ( M - 1 )    . 

Global markets are engaged in all of the following decisions EXCEPT:

 

► What country to enter in? 

► How to enter? 

► How to adopt their product and services? 

► What to sell to governmental organization? 

GLOBAL MARKETS: This is when we talk beyond frontiers; marketers are faced with tougher decisions for global markets. Export of product is in itself a major undertaking. Which country to enter? How to enter? How to Price? How to communicate?

 

MKT501 - Marketing Management - Q.No. 29    ( M - 1 )    . 

Which of the following involves the use and disposal of products as well as the study of how they are purchased?

 

► Consumer performance 

► Consumer response 

► Consumer behavior 

► Consumer relationship 

Consumer behavior involves the use and disposal of products as well as the study of how they are purchased.

 

MKT501 - Marketing Management - Q.No. 30    ( M - 1 )    . 

Maslow's hierarchy has a list of human needs from the most pressing to the least pressing. These include all of the following EXCEPT:

 

► Self-actualization 

► Need recognition 

► Safety needs 

► Social needs 

 

MKT501 - Marketing Management - Q.No. 31    ( M - 1 )    . 

_______ are the sum of the _______ and _______ for any given level of production.

 

► Fixed costs; variable; total costs 

► Fixed costs; total; variable costs 

► Variable costs; fixed; total costs 

► Total costs; fixed; variable costs 

 

MKT501 - Marketing Management - Q.No. 32    ( M - 1 )    . 

Which of the following concepts is defined as the “responsiveness of the quantity demanded of a good or service to a change in its price”?

 

► Price elasticity 

► Break-even pricing 

► Demand curve

► Target cost

Elasticity of Demand (PED) is a measure of the responsiveness of the quantity demanded of a good or service to a change in its price.

 

MKT501 - Marketing Management - Q.No. 33    ( M - 1 )    .

What are the tasks of the sales representative?

 

► Informing customers; information gathering; persuasion

► Installation and demonstration of products; project management; maintaining relationships

► Prospecting clients; relationship management; monitoring the competition

► All of the above

 

MKT501 - Marketing Management - Q.No. 34    ( M - 1 )    .

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called _____.

 

► Sales promotion

► Direct marketing

► Advertising

► Personal selling

Advertising is any paid form of non-personal presentation and promotion of ideas, goods and services through mass media such as newspapers, magazines, television or radio by an identified sponsor".

 

MKT501 - Marketing Management - Q.No. 35    ( M - 1 )    .

Multi-component video news release (VNR’s) is one of the tools of:

 

► Advertising

► Sales promotion

► Direct marketing

► Publicity

Basic TOOLS of the Publicist are:

• Press Release

• Telephone press conferences

• In-studio media tours

• Multi-component video news releases (VNR’s)

• Newswire stories.

 

MKT501 - Marketing Management - Q.No. 36    ( M - 1 )    .

“Unwillingness to change thought patterns that we have used in the past in the face of new circumstances” is showing which of the following concepts?

 

► Conservatism and inertia

► Experiential limitations

► Selective perception

► Source Credibility bias

Conservatism and inertia - Unwillingness to change thought patterns that we have used in the past in the face of new circumstances.

 

MKT501 - Marketing Management - Q.No. 37    ( M - 1 )    .

Global Market is also called as:

 

► Consumer market

► Import market

► Export market

► Government market

 

MKT501 - Marketing Management - Q.No. 38    ( M - 1 )    .

A good marketing strategy would be to promote the extensive use of market segmentation in the:

 

► Introduction

► Growth

► Maturity

► Decline

Maturity Stage:"Marketers will also revise their marketing strategies .i.e. they will find new segments of the market for their product.

 

MKT501 - Marketing Management - Q.No. 39    ( M - 1 )    .

Pricing a product at 4.99 Rs rather than 5 Rs is an example of which of the following?

 

► Unit pricing

► Odd pricing

► Round down pricing

► One price policy

Prices are rounded down to the nearest multiple of 5 cents for sales ending in 1c, 2c.

 

MKT501 - Marketing Management - Q.No. 40    ( M - 1 )    .

The opportunity to deduct 2 percent from the bill if payment is made within 10 days is a:

 

► Trade discounts

► Quality discounts

Cash discount

► Off price discounts

 

MKT501 - Marketing Management - Q.No. 41    ( M - 1 )    .

If the firm's average total cost is equal to the price of the product at profit maximization then at what mode of operation the firm would be?

 

► Economic profit

► Normal profit

► Loss minimizing

► Shut down

A firm is said to be making a normal profit when its economic profit equals zero. This occurs where average total cost equals price at the profit-maximizing output.

 

MKT501 - Marketing Management - Q.No. 42    ( M - 1 )    .

If the price of product is between average total cost and average variable cost at profit maximization then at what mode of operation the firm would be?

 

► Economic profit

► Normal profit

► Loss minimizing

► Shut down

If the price is between average total cost and average variable cost at the profit-maximizing output, then the firm is said to be in a loss-minimizing condition.

 

MKT501 - Marketing Management - Q.No. 43    ( M - 1 )    .

Industrial purchases usually refer to deal with:

 

► Retailers

► Wholesalers

► Agents

► Manufacturer

WHOLESALING “includes all activities involved in selling goods and services to those who buy for resale or business use”.

 

MKT501 - Marketing Management - Q.No. 44    ( M - 1 )    .

Intense distribution:

 

► Involves the selection of small number of retailers

► Is usually used in the distribution of Candies and chewing gum

► Requires very little use of whole sellers

► Bypass the intermediaries

Intensive Distribution Takes place when suppliers sell through as many retailers as possible. This arrangement usually maximizes suppliers' sales; and it enables retailers to offer many brands and product versions.
source: http://en.mimi.hu/marketingweb/offer.html 

 

MKT501 - Marketing Management - Q.No. 45    ( M - 1 )    .

You are going to take a decision about a purchase and your decision is influenced by initial information you collected from a source. Identify the decision making style in this situation.

 

► Repetition bias

► Group decision

► Anchoring

► Selective perception

Anchoring - Decisions are unduly influenced by initial information that shapes our view of subsequent information.

 

MKT501 - Marketing Management - Q.No. 46    ( M - 1 )    .

Which of the following statements most closely relates to the consumer decision process?

 

► An important factor in problem recognition is changed financial status

► There are two major steps: internal search and external decision making.

► Attitude triggers the consumer decision process

► Routine purchases require both evaluation and search

 

MKT501 - Marketing Management - Q.No. 47    ( M - 1 )    .

Marketing strategies that have been successful in one country often cannot be applied directly in international markets due to which of the following?

 

► Political differences

► Social differences

► Cultural differences

► Economic differences

Cultural differences are particularly important for international markets.  Marketing strategies that prove successful in one country cannot extend to other international markets because of cultural variations.

 

MKT501 - Marketing Management - Q.No. 48    ( M - 1 )    .

The survey method of collecting data includes which of the following?

 

► Observations

► Personal interviews

► Reports

► Internal sales data

 

MKT501 - Marketing Management - Q.No. 49    ( M - 3 )

How the performance of a supply chain can be measured? Mention any three points.

 

MKT501 - Marketing Management - Q.No. 50    ( M - 3 )

What is the purpose of marketing research?

 

MKT501 - Marketing Management - Q.No. 51    ( M - 5 )

A company is using sales force automation system and aims to increase customer’s satisfaction. How sales force automation system can be helpful in attaining customer’s satisfaction?

MKT501 - Marketing Management - Q.No. 52    ( M - 5 )

How public relations are helpful in creating goodwill for organizations?

 

MKT501 - Marketing Management - Q.No. 53    ( M - 5 )

Differentiate between economic and psychological models.

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