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MKT501 Final Term 2010 Paper 2 solved with Reference (MH)

FINALTERM  EXAMINATION

Spring 2010

MKT501- Marketing Management

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 focuses on expanding market, creating product awareness and trial?

 

       ► Introduction stage

       ► Growth stage

       ► Maturity stage

       ► Decline stage

   

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

ABC Company is engaged in new product development process. After idea generation, screening, concept development and going through the business analysis. Identify the next step of the company.

 

       ► Home-placement testing

       ► Consumer testing

       ► Beta testing

       ► Alpha testing

  

MKT501 - Marketing Management - Q.No. 3    ( 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

Answer by Zubair Hussain

 

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. 4    ( M - 1 )    

  Which of the following is said to be the price of an executive?

 

       ► Wage

       ► Salary

       ► Cost

       ► Premium

   

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

  Which of the following price is quoted to a potential buyer, usually in written form?

 

       ► Wholesale price 

       ► Market price

       ► List price

       ► Retail price

The list price (which is quoted to a potential buyer, usually in written form).   www.vuzs.net

 

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

  A penetration-pricing policy is particularly appropriate when demand is:

 

       ► Decreasing

       ► Highly inelastic

       ► Highly elastic

       ► Less elastic

Price Penetration is most appropriate when:

• Product demand is highly price elastic.

   

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

  Which of the following is used to segment and analyze consumer buying behavior?

 

       ► Customer database

       ► Marketing communication

       ► Integrated marketing communication

       ► Promotional mix

 

Your customer database contains readily available information that can beused to ... RFM analysis is used for many purposes including customer migration from one group to another. It also can be used to identify clusters of buying behaviour, or as a determinant of segmentation strategies.

 

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

  What is the other name used for a TV commercial?

 

        Avert

        Advert

        Divert

        Redirect

   

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

 Which of the following is NOT used for commercial advertising?

 

        Bus stop benches

        Wall paintings

        Billboards

        Word of mouth

   

Commercial Advertising media can include

•Wall paintings

•Billboards (outdoor advertising)

•Street furniture components,

•Printed flyers

•Skywriting

•Bus Stop benches.

 

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

  For what purpose advertising slogans are used?

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        Drawing attention

       ► Segmentation

        Sales promotion

        Publicity

Advertising slogans are claimed to be, and often are proven to be, the most effective means of drawing attention to one or more aspects of a product or products.

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

 

 A company manufactures shoes. The company incurred costs i.e. Rs.500, 000 for rent of the factory, Rs.20000 for transportation cost, Rs. 100, 000 for electricity bill and Rs. 600, 000 for raw material consumed. The total cost for the company is:

 

        1,220,000

        600,000

        700,000

        720,000

   

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

  A company is charging different prices to the customers based on the location. It is known as:

 

       ► Forth degree discrimination

       ► Third degree discrimination

       ► Second degree discrimination

       ► First degree discrimination

 In third degree price discrimination, price varies by location or by customer segment.

  

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

  In BCG matrix, products with low market share but high market growth are referred to as:

 

       ► Question marks

       ► Cash cows

       ► Stars

       ► Dogs

 Products with low market share but high market growth are referred to as "question marks" or "problem children".  

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

What is an outcome of communication and co-operation between sales personnel?

 

       ► More productivity

       ► Successful selling

       ► More market growth

       ► Successful team selling

Better communication and co-operation between sales personnel facilitates successful team selling.

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

Identify the feature of selective distribution.

 

       ► Less control only

       ► Less cost only

       ► Less cost and more control

       ► More cost and less control

Advantages:

§  Better market coverage than exclusive distribution.

§  More control and less cost than intensive distribution.

§  Concentrate effort on few productive outlets.

§  Selected firms capable of carrying full product line and provide the required service.

   

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

Which of the following is an approach where two or more organizations agree on a joint venture?

 

       ► Horizontal marketing

       ► Vertical marketing

       ► Integration

       ► Franchise

HORIZONTAL MARKETING: A rather less frequent example of new approaches to channels is where two or more non-competing organizations agree on a joint venture - a joint marketing operation - because it is beyond the capacity of each individual organization alone. In general, this is less likely to revolve around marketing synergy.   

 

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

Product design coordination, for optimal integration of the new and existing products into the supply chain, comes under which of the following activities of supply chain?

 

       ► Strategic level

       ► Tactical level

       ► Operational level

       ► Functional level

 At the strategic level, manufacturing decisions define the manufacturing infrastructure and technology that is required.

  

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

Which of the following is an example of agency based sales?

 

       ► Web selling

       ► B2 B selling

       ► Advertising

       ► Real estate

  Agency-based

• Consignment

• Multi-level marketing

• Sales agents (real estate, manufacturing) 

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

Which of the following is NOT included in logistics?

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       ► Purchasing

       ► Transporting

       ► Storage

       ► Financing

Logistics is about the:

• Purchasing,

• Transport,

• Storage,

• Distribution,

• Warehousing of raw materials, semi-finished/work-in-process goods and finished goods.   

   

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

Which of the following consists of the sale of products for personal or household consumption either from a fixed location or a kiosk? 

 

       ► Retailing

       ► Wholesaling

       ► Sales promotion

       ► Publicity

Retailing consists of the sale of Goods/Merchandise for Personal or Household Consumption either from a fixed location such as a department store or kiosk.   

 

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

Some of the internal attributes are harmful for the organizations in achieving the objectives. Identify these attributes.

 

       ► Strengths

       ► Weaknesses

       ► Opportunities

       ► Threats

Weaknesses are attributes of the organization that are harmful to the achievement of the objective.

   

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

The absence of certain strength is viewed as a weakness. Identify such attribute of weakness for an organization.

 

       ► A poor after sales service record

       ► New machinery or equipment

       ► Competitors developing new products

       ► A new or developing market

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

What are the three major types of vertical marketing systems?

 

       ► Corporate, contractual, and administered

       ► Contractual, corporate, and independent

       ► Administered, independent, and franchised

       ► Corporate, contractual, and chain

VERTICAL MARKETING: Alternative approaches are `contractual systems', often led by a wholesale or retail co-operative, and `administered marketing systems' where one (dominant) member of the distribution chain uses its position to co-ordinate the other members' activities.   

 

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

  Which of the following types of qualitative research lasts for 1 to 2 hours?

  www.ly)

       ► Laddering

       ► Depth interviews

       ► Focus group

       ► Projective techniques

Focus Groups:

• Usually last for 1 to 2 hours.

   

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

When a company produces a product in response to consumer demand, it represents which one of the following concepts?

 

       ► Selling concept

       ► Production concept

       ► Customer concept

       ► Marketing concept

   

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

 The companies who adopt focus strategy are called:

 

       ► Market nicher

       ► Market leader

       ► Market follower

       ► Market challenger

Market Nicher: In this niche strategy the firm concentrates on a select few target markets. It is also called a focus strategy.  
 

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

 An established company with respected brands might introduce which one of the following options to compete against low priced rivals?

 

       ► Value pricing

       ► Special sales promotions

       ► Price cut

       ► Higher quality products

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

  ABC firm sells a product or service at two or more prices, even though the difference in price is not based on differences in cost, reflects which one of the following concepts?

 

       ► Discriminatory pricing

       ► Variable pricing

       ► Flexible pricing

       ► Cost-plus pricing

   

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

 Which one of the following options does not reflect the strategic activities?

 

       ► Sourcing contracts and other purchasing decisions

       ► Information Technology infrastructure to support supply chain operations

       ► Where to make and what to make or buy decisions

       ► Product design coordination

 Strategic Activities:

• Product design coordination, so that new and existing products can be optimally integrated into the supply chain.

• Information Technology infrastructure, to support supply chain operations.

• Where to make and what to make or buy decisions.

  

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

 Sourcing contracts and other purchasing decisions reflect which of the following activities?

 

       ► Strategic activities

       ► Tactical activities

       ► Operational activities

        Functional activities

  Tactical Activities:

Sourcing contracts and other purchasing decisions. 

 

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

  Whenever bread comes in your mind; you usually think of a limited number of brand names. It reflects which one of the following concepts?

 

       ► Mind Share

       ► Dominant mind share

       ► Market share

       ► Relative market share

 MIND SHARE: When people think of examples of a type or category of product, they think of a limited list (referred to as an evoked set).  

 

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

  In which of the following sales, you require high degree of intelligence both on the part of sales people as well as buyer?

 

       ► Transaction sales

       ► Consultative sales

       ► Counseling sales

       ► Complex sales

 Consultative selling :Personal selling in which a salesperson plays the role of a consultant. He or she first assists the buyer in identifying his or her needs, and then suggesting products that satisfy those needs.

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

  The need for the security of employment and security of revenues reflects which of the following needs.

 

       ► Physiological needs

       ► Self-actualization

       ► Love/belonging needs

       ► Safety needs

Safety Needs

When the physiological needs are met, the need for safety will emerge. Safety and security rank above all other desires. These include:

• Security of employment

• Security of revenues and resources.

   

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

Being a marketing manger, you have been assigned a task of conducting marketing research that how much spicy burger would be preferred by the people and what should be the material filled in the burger. Which of the following research would be conducted by the marketing manger in order to find out the determinants?

 

       ► Experimental techniques

       ► Qualitative marketing research

       ► Quantitative marketing research

       ► Observational techniques

 Experimental Techniques - the researcher creates a quasi-artificial environment to try to control spurious factors, and then manipulates at least one of the variables - examples include purchase laboratories and test markets.  

 

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

Which of the following is about to manage strategically the customer’s entire experience with the product and company?

  

       ► Customer experience management

       ► Customer retention management

       ► Customer life-time value management

       ► Customer relationship management

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

 Factors of broad environment directly affect the:

 

       ► Economic environment

       ► Task environment

       ► Cultural environment

       ► Technological environment

Broad environment consists of; demographic, natural, economic, technological, political-legal and socio cultural environment.   

 

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

  A Company wants to create awareness about the features and befits of their products in the market. Which of the following decisions are important to achieve this goal?

 

       ► Price decisions

       ► Place decisions

       ► Promotion decisions

       ► Product decisions

   

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

 Sales volume rise rapidly as new customers make initial purchases and early buyers repurchase the product during the stage is called:

 

        Introduction

        Growth

        Maturity

        Decline

Growth stage:

• Costs reduced due to economies of scale

• Sales volume increases significantly

• Profitability

• Prices to maximize market share.

   

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

 A firm develops checklists to determine whether product ideas should be eliminated or subject to further consideration during which of the following?

 

        Idea generation

        Business analysis

        Idea screening

        Idea evaluation

Idea Screening: eliminate unsound concepts.

   

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

If the firm's average total cost is less than 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

   

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

In BCG matrix, products with low market share and a low market growth are referred to as:

 

       ► Star

       ► Dog

       ► Cash Cow

       ► Question Mark

Products with low market share in a low growth market are referred to as "dogs".

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

Displays, trade shows and product demonstrations are all the example of which of the following?

 

        Publicity

        Advertising

        Public relations

        Sales promotion

   

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

Productivity of sales force can be measured by using all of the following EXCEPT:

 

       ► Total cost of production

       ► Revenue per territory

       ► Revenue per sales person

       ► Margin by customer segment

 Tracking the productivity of their sales force by combining a number of performance measures such as: revenue per sales person, revenue per territory, margin by product category, margin by customer segment, margin by customer, number of calls per day, time spent per contact, revenue per call, cost per call, entertainment cost per call, ratio of orders to calls and revenue as a percentage of sales quota.

 

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

A generalization about distribution channels is that the lower the product’s unit value, the:

 

        More likely the channel be bypassed

        Shorter the channel

        Longer the channel

        The channel will not affected by the unit value

Ref: The lower the product’s unit value, and the more standardized it it, the larger the channel will be.

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

'Tendency of avoiding loss than acquiring gain' refers to which of the following?

 

       ► Gain aversion

       ► Risk aversion

       ► Loss conversion

       ► Loss aversion

LOSS AVERSION: “In prospect theory, loss aversion refers to the tendency for people to strongly prefer avoiding losses than acquiring gains”.   

 

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

  Which of the following statements concerning consumer behavior is true?

 

        It is a decision process and the act of purchasing

        It is impossible to predict due to variance in income level and culture

        It is a result of fixed activities performed by the consumers

        It is determined by the individual genetic characteristics

   

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

Marketing research consists of generating information to:

 

        Identify and define marketing opportunities

        Evaluate marketing actions

        Monitor marketing performances

        All of the given options

   

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

  Which of the following statement is correct with reference to the secondary data?

 

        Are collected from personal interviews

        Are more expensive than primary data

        Require less time to locate and use

        Are almost misclassified

   

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

  Explain the various practices used by interviewers during depth interview.

 

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

What are the different functions performed by the wholesalers?

 

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

 Critically evaluate this statement.

 

“World wide web can be compared with the mass media”

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

  What are the important questions a marketer should consider while selecting a distribution channel for any market segment?

 

 

 

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