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MKT501 Midterm 2010 Paper solved with reference - HB

MKT501 Midterm Paper 2010 of Marketing Management - Solved with ref (HB)

Spring 2010

Solved by Hira Batool

www.vuzs.net

 Practice This paper on-line and evaluate your performance Part1  Part2

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

A market leader firm can expand the total market through: 

 

Decreasing distribution of the product 

► Introducing the new usage of the product(page # 20) 

Eliminating some features of product 

Increasing cost 

 

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

Highest percentage of ideas for new products originates with/from which of the following sources? 

► Top management 

► Customers(page#28) 

► Competitors 

► Employees 

 

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

How many stages are there in the new product development process? 

► Six 

► Seven(page#28) 

► Nine 

► Eight 

 

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

All of the following are the sources of idea for new product development EXCEPT: 

► Government agencies(page # 28) 

► Competitors 

► Suppliers 

► Customers 

 

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

Which of the following is essentialrequirementfor medicines and drugs? 

Secondary packaging 

► Primary labeling 

Decorative packaging 

Mandatory labeling (page no 35 )

 

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

When a company’s name is used as a product brand name, this is referred to which of the following? 

 

 

Economy brand 

Fighting brand 

Corporate brand (page no 36)

Premium brand 

 

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

Often a very strong brand name or company nameusedfor a range of productsisknown as: 

Brand development 

Multi branding 

Individual branding 

Family brandingpage no 37 

 

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

All of the following are true about price EXCEPT: 

 

 

Price is independent of the other elements of the marketing mix 

 

Price is the monetary value of a product 

Price is most flexible tool in the marketing mix 

Price is marketing mix element which produces revenue 

 

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

A company wants prompt payment from the customers. What type of discount will be suitable for the company? 

► Seasonal discount 

► Trade discount 

► Quantity discount 

► Cash discount page no 43 

 

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

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

► Customer complaints database 

► Web and telephone information hotlines

► Exit interviews 

► Business analysis 

 

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

All are the expression of marketing concept EXPECT: 

 

► Meeting needs profitably 

► Find wants and fill them 

► Sell what is producedpage # 8 

► Love the customer, not the product 

 

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

Order processing decisions are related to which of the following? 

► Product 

► Price

Distribution 

► Promotion 

 

MKT501 - Marketing Management - Q. No. 13 ( M - 1 ) - Please choose vu zs one 

identify the major components of the microenvironment. 

► Company, suppliers, , customer markets, political forces, competitors and intermediaries 

► Company, suppliers, intermediaries,technological forces , competitors and customer markets 

► Company, suppliers, intermediaries, customer markets, competitors, and social forces 

► Company, suppliers, intermediaries, customer markets, competitors, and publics 

 

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

An advertising company’s ownership of radio, television and newspapers is an example of:   

 

► Backward vertical integration 

► Forward vertical integrationpage no 18 

► Horizontal integration 

► Vertical integration 

 

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

Which of the following are the value maximizers for the organization?  www.vuzs.net

 

► Customers 

► Sellers 

► Marketers 

► Manufacturers 

 

ref by Fuad Hasan

EXECUTIVE SUMMARY

Customers are the value maximizers , within the bounds of search, cost and limited knowledge, mobility and income. They form an expectation of value ...

 

 www.vuzs.net

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

Marketing management is a broader term and it covers which of the following? 

► Marketing mix management 

► Demand management 

► Marketing process management 

► All of the given options 

 

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

In a television advertisement a group of teenagers is searching for some cold drinks to quench their thrust. In their searching they find a shop and they purchase the soft drinks. The selection of cold drink appeals to consumers’ _________ for liquid and attempts to shape consumers’ _________ for the advertised product. 

 

Needs, preferences 

► Wants, needs 

► Needs, wants 

► Want, preference          vuzs

 

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

Which of the following is the unique combination of benefits received by targeted buyers that includes quality, price, convenience, on time delivery, and both before sale and after sale service.

► The marketing concept

► Customer value  (Correct)

► The price-quality trade off

► Customer relationship management

Corrected by Umeed with the following web ref

http://highered.mcgraw-hill.com/sites/0072828803/student_view0/chapter1/multiple_choice_quiz_a.html

 

 

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

Marketing programs are most closely related to:

► Customer relationship management

► The marketing mix

► The four utilities

► Customer value

 

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

Which of the following is the part of implementation section of marketing plan?

 

► Critical path analysispage no 28

► Physical distribution

► Competitor indexing

► Brand equity

 

www.vuzs.net

 

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

Which of the following is NOT an aggressiveness strategy with regards of marketing strategies?

 

► Harvesting

► Building

► Intensificationpage no 18

► Holding

 

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

Which of the following goods are purchased by customers after comparisons of competing goods available in stores on the basis of price, quality, style and colors?

 

► Speciality goodspage no 25

► Shopping goods

► Impulse goods

► Convenience goods

 

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

Diversification is best described as which of the following?

► Existing products in new markets

Existing products in existing markets

New products for new markets  (Correct)

New products

 

Corrected by Fuad with the following reference

  • Diversification is a form of corporate strategy for a company. It seeks to increase profitability through greater sales volume obtained from new products and new markets. Diversification can occur either at the business unit level or at the corporate level.  http://en.wikipedia.org/wiki/Diversification_(marketing_strategy)

 

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

One of the benefits of test marketing is,

 

It saves on segmentation efforts to individual consumer

It saves on total competitive advertising and promotional expenditures

It can save the company from greater potential loss and embarrassment  page no 27

It is long run rather than short run planning

 

 

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

Which of the following are the opinion leaders in their community and adopt new products early but carefully?

 

Early adopters

Early majoritypage no 34

Late majority

Innovators

ref.

 

Secondly Early Majority. They are very careful people and take time to adopt things. They tend to collect

information about the change or the product, study carefully and then adopt on the basis of their merits.

 

 

Question vu zs No: 26 ( M - 1 ) .

ABC Company sells the right to use their brand name by other companies for non-competing products, the company is following:

 

Brand licensing page no 38

Co-branding

Family branding

Individual branding

ref.

 

When a company sells the rights to use a brand name to another company for use on a non-competing

product or in another geographical area, this is referred to as Brand licensing.

 

 www.vuzs.net

 

MKT501 - Marketing Management - Q. No. 27 ( M - 1 ) - Please choose vu zs one

As a marketing manager, you decide to use psychological pricing as a straegy in pricing your firm’s products. He pricing procedure you decide upon is:

 

Odd pricing

Competitive pricing

Unit pricing

Trade in pricing

 

Ref by Fuad Hasan

 

    • Psychological pricing or price ending is a marketing practice based on the theory that certain prices have a psychological impact. The retail prices are often expressed as "odd prices": a little less than a round number, e.g. $19.99 or $2.98. ...
http://en.wikipedia.org/wiki/Odd_pricing

 

 

 

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

A trade discount is also known as:

Cash discount

Seasonal discount

Quantity discount

Functional discount page no 44


 

MKT501 - Marketing Management - Q. No. 29    ( M - 3 )

While developing a new product companies can use many sources to generate ideas for new product. Explain how competitors can be a good external idea source?

 

 

www.vuzs.net

http://www.vuzs.net

 

 

MKT501 - Marketing Management - Q. No. 30    ( M - 3 )

Retailing is the dead end of product distribution. Explain it?

 

 

MKT501 - Marketing Management - Q. No. 31    ( M - 5 )

Describe product type of all the followings & give logical reasons to support your answer.

·Furniture

·Cars

·Soap

·Mango

·Rice

 

MKT501 - Marketing Management - Q. No. 32    ( M - 5 )

What types of discounts are given by the company to the distributors and retailers as trade promotion discounts?

 

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