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MGT301- Principles of Marketing MIDTERM

Time: 60 minMarks: 47

Question No: 1 ( Marks: 1 ) - Please choose oneIf XYZ Insurance Company observes a sudden increase in the number of farmers seeking flood insurance in Pakistan due to major floods in India, Which one of the following is representing flood situation for the company? ► Marketing opportunity ► Marketing strategy ► Marketing concept ► Marketing threat Question No: 2 ( Marks: 1 ) - Please choose oneIf a local company wants to adopt the marketing concept. To be consistent with this move, it should adopt which of the following philosophies? ► Focusing on today is important for us ► Making money is our business ► The customer is always right ► Keeping prices low is our objective Question No: 3 ( Marks: 1 ) - Please choose oneThe digital age will fundamentally change customers’ thinking of convenience, speed, price, product information and service. This new consumer thinking will affect which one of the following businesses? ► A few businesses ► Every business ► Established businesses ► Starting up businesses

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Question No: 4 ( Marks: 1 ) - Please choose oneWhich of the following is an intensive growth strategy of increasing sales in current markets with current products? ► Market development ► Market penetration ► Product development ► Market saturationQuestion No: 5 ( Marks: 1 ) - Please choose oneBeliefs and values that are passed on from parents to children and are reinforced by schools, churches, business and government refer to which of the following beliefs and values? ► Crucial ► Core ► Secondary ► Primary Question No: 6 ( Marks: 1 ) - Please choose oneWhich one of the following factor influences the consumer buying decision process? ► Person-specific ► Social ► Demographic ► Situational Question No: 7 ( Marks: 1 ) - Please choose oneThe receptionist at a doctor's office throws away certain product circulars mailed by pharmaceutical companies and keeps the ones on products she believes are useful. The receptionist is performing which role in the buying centre? ► Influencer ► Buyer ► Decider ► GatekeeperQuestion No: 8 ( Marks: 1 ) - Please choose one




ABC Company divides the pet market according to the owners’ race, occupation, income and family life cycle. Which of the following types of segmentation is being used by the Company? ► Occasion ► Age and life cycle ► Demographic ► PsychographicQuestion No: 9 ( Marks: 1 ) - Please choose oneWhen Burger King targets different groups from children and teens to adults and seniors with different ads and media, it is practicing which one of the following segmentation? ► Demographic ► Age and life cycle ► Psychographic ► BehavioralQuestion No: 10 ( Marks: 1 ) - Please choose oneA period of rapid market acceptance and increasing profits refers to which of the following stages of the product life cycle? ► Decline ► Growth ► Maturity ► IntroductionQuestion No: 11 ( Marks: 1 ) - Please choose one Fast-food restaurants offer tasty and convenient food at affordable prices; they contribute to fatness that harms consumer health. Which one of the following concepts is NOT being followed by this company? ► Product concept ► Production concept ► Societal marketing concept ► Marketing concept Question No: 12 ( Marks: 1 ) - Please choose one




Which one of the following is a chief goal of the implementation function in marketing process? ► Develops marketing plans ► Turns plans into actions ► Takes corrective actions ► Develops strategic plansQuestion No: 13 ( Marks: 1 ) - Please choose oneWhich one of the following are the MOST useful source of speedier and more comprehensive information? ► Suppliers ► Key customers ► Company reports ► Sales force http://groups.google.com/group/vuZsQuestion No: 14 ( Marks: 1 ) - Please choose oneWhich one of the following sets represents 4 C’s of the marketing mix? ► Customer solution, cost, convenience, communication ► Customer, cost, convenience, comfort ► Convenience, communication, coverage, cost ► Cost, coverage, communication, consultancyQuestion No: 15 ( Marks: 1 ) - Please choose oneWhen Nokia introduced its new mobile set in the market in response to consumer demand, it was applying which one of the following concepts? ► Selling concept ► Production concept ► Customer concept ► Marketing conceptQuestion No: 16 ( Marks: 1 ) - Please choose oneABC Company wants to learn about consumer attitudes toward mail order purchases and conducts a study to acquire this



http://groups.google.com/group/vuZs


information. Which one of the following data would BEST be classified for this study? ► Causal ► Experimental ► Primary ► Secondary Question No: 17 ( Marks: 1 ) - Please choose oneDemographic forces, Economic forces, Natural forces, Technological forces are included in the company’s: ► Marketing environment ► Microenvironment ► Macroenvironment ► All of the given optionsQuestion No: 18 ( Marks: 1 ) - Please choose oneCustomer relationship management helps to deliver: ► All of the given options ► Superior Customer Value ► Customer Loyalty ► Customer SatisfactionQuestion No: 19 ( Marks: 1 ) - Please choose oneWhen competition is intense and there are many manufacturers then the buyer has more options of product switching. This is represented in Porters model as: ► Threat of new entrants ► Bargaining power of buyers ► Bargaining power of suppliers ► Rivalry among competing firmsQuestion No: 20 ( Marks: 1 ) - Please choose oneWhat are we going to do? And, how are we going to do it? In which of the following categories do these two questions fall? ► Researching ► Planning ► Controlling




► ManagingQuestion No: 21 ( Marks: 1 ) - Please choose oneWhich of the following steps in strategic planning occurs at the business unit level rather than the corporate level? ► Defining the company mission ► Planning marketing strategies ► Setting companies objectives and goals ► Designing the business portfolioQuestion No: 22 ( Marks: 1 ) - Please choose oneEnvironmental groups are included in which of the following publics? ► Citizen-action publics ► Media publics ► Government publics ► Local publicsQuestion No: 23 ( Marks: 1 ) - Please choose oneWhich one of the following environment depicts consumer purchasing power and spending patterns? ► Demographic environment ► Cultural environment ► Economic environment ► Consumer environmentQuestion No: 24 ( Marks: 1 ) - Please choose oneMr. X wants to conduct a marketing research. He has limited resources and he needs to collect large amounts of information. Mr. X should adopt which of the following contact method? ► Mail questionnaire ► Telephone interviewing ► Personal interviewing ► Computer interviewingQuestion No: 25 ( Marks: 1 ) - Please choose oneEach culture contains smaller subcultures, which can be defined as: ► Personality characteristics of a consumer ► The motives that people have for their behavior




► Shared value systems based on common life experiences ► Geographic regions and income levelsQuestion No: 26 ( Marks: 1 ) - Please choose oneWhich of the following units would most likely be considered in the study of consumer behavior? ► Competitors ► Suppliers ► Individuals ► None of the given optionsQuestion No: 27 ( Marks: 1 ) - Please choose oneThe firms that buy goods and services in order to produce products and services to sell to others are called: ► Business markets ► Consumer markets ► International markets ► None of the given options Question No: 28 ( Marks: 1 ) - Please choose oneBusiness demand is usually ____________. ► Derived ► Steady ► Predictable ► UnpredictableQuestion No: 29 ( Marks: 1 ) - Please choose oneIdentify the other market offerings marketers have broadened the concept of "product" to include. ► Organizations, persons and places ► Ideas, services and organization ► Places, organizations and times ► None of the given options Question No: 30 ( Marks: 1 ) - Please choose oneA good package may: ► Protect the product ► Help to sell the product




► Raise total distribution cost ► All of the given optionsQuestion No: 31 ( Marks: 1 ) - Please choose oneThe positive differential effect that knowing the brand name has on customer response to the product or service is known as ________ ► Brand Equity ► Brand Positioning ► Brand Loyalty ► None of the givenQuestion No: 32 ( Marks: 1 ) - Please choose oneA luxury car manufacturer was facing a loss as his sales were diminishing due to rising inflation and weak economy. He therefore decided to manufacture fuel efficient and cheaper cars. The manufacturer was stretching his product line: ► Upwards ► Downwards ► Both ways ► None of the given optionsQuestion No: 33 ( Marks: 1 ) - Please choose oneMr. A started his business by manufacturing small cheaper cars. As his business blossomed he decided to manufacture expensive luxury cars to add prestige to his current products. Mr. A was stretching his product line: ► Upwards ► Downwards ► Both ways ► None of the given options Question No: 34 ( Marks: 1 ) - Please choose oneDuring which of the following stage of product life cycle the company has to face stiff competition from its competitors as there are many competitors in the market? ► Introduction ► Growth




► Maturity ► DeclineQuestion No: 35 ( Marks: 3 )A firm is going to launch a new product into the market. They are looking for a brand name that can be associated with the product. What should be the characteristics of a good brand name?Ans: The characteristics of the brand name should include but not limited to the following:

1) Distinct and not matching with any of the existing brand names.2) Attractive. Should be eye / attention catching.3) Should give basic information about what the product could be.4) Should not be offensive to anyone.5) Easy to remember for future referrals.

Question No: 36 ( Marks: 5 )Briefly discuss the three major steps in target marketing. Ans:- The three steps in target marketing: Market segmentation :- Covers the scope of selection of segment based on the product / service features or the potential area that could be targeted. Segmentation is nothing but division of large groups into small bundles for convenient and effective marketing. Market Targeting:- Based on the services / products offered, one or more segments of the market will be targeted for better results. This is done through detailed research which could include support from MIS system along with marketing managers to be more




specific. Ultimately, the desired segments to be target are selected. This process is more or less like a screening process. Market Implementation & Control:- Once the markets / segments are selected for targeting / focusing, the product / service is introduced and monitored. The marketing planning and implementation process come into picture with practical implementation and subsequent control for continuous improvement based on the feedback received from end users. http://groups.google.com/group/vuZs Question No: 37 ( Marks: 5 )Explain the concept of post purchase behavior; also enlist the stages involved in the buyer’s decision process. Ans:- Post Purchase Behavior:- Once the product / service has been acquired, consumers behavior will fall under following categories:-

1) Quality / conformance: Is the product meeting the pre-requisite of consumer2) Satisfaction to Requirements:- Once the product / service is under usage, is this what the consumer really wanted.3) Price:- Consumer will evaluate whether the product with offered features is worth the amount he has spent on this service.4) Feedback:- Consumers at time do tend to give a feedback to the product / service providers





5) Informal marketing:- If the customer is happy, he may refer / recommend the product to his social / family or professional circle or to the group with whom he interacts. Incase the product did not meet his requirements, the recommendations can go negative way and even destroy potential market for the product in that particular geographical region at least.

Buyer’s decision process: Buyers decision process usually works through the following characteristics:

1) Psychological effect.2) Age & Gender influence3) Recommendation by others.4) Price / Budget5) Specifications match with requirements.6) Marketed well to hold a position in buyer’s mind.7) Packaging8) Brand9) Labeling10) Availability11) Sizing for adequacy to meet customer’s desired requirement12) Features13) Quality14) Previous experience / exposure15) Social & cultural factors.

MIDTERM EXAMINATION


Question No: 1 ( Marks: 1 ) - Please choose one




Any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor reflects which one of the following concepts? ► Sales promotion ► Direct marketing ► Advertising ► Personal selling Question No: 2 ( Marks: 1 ) - Please choose oneWhich one of the following options refers to “The art and science of choosing target markets and building profitable relationships”? ► Customer relationship management ► Knowledge management ► Total quality management ► Marketing management Question No: 3 ( Marks: 1 ) - Please choose oneThe first step in the marketing control process is BEST described when the marketer performs which of the following activities? ► Evaluates performance ► Measures performance ► Sets specific goals ► Takes corrective action Question No: 4 ( Marks: 1 ) - Please choose oneWhich type of management is responsible for setting the company’s mission, objectives, broad strategies and policies? ► Top management ► Middle level management ► Low level management ► Functional management Question No: 5 ( Marks: 1 ) - Please choose one




Your marketing department is attempting to improve strategic decision making, assess and track competitors’ actions and provide early warning of opportunities and threats. For this purpose which of the following will be used by your department? ► Internal databases ► External databases ► Marketing intelligence ► Company reports only Question No: 6 ( Marks: 1 ) - Please choose oneIf ABC Ltd knows that its market share in Pakistan has dropped 13 percent in the first quarter of the year but does not know what might have contributed to this decline, it is in which stage of the marketing research process? ► Hypothesis development ► Symptom identification ► Problem identification ► Data interpretation Question No: 7 ( Marks: 1 ) - Please choose oneIn the previous three years, four studies have been conducted on the characteristics of ABC Company’s clients. As the firm seeks to put together a report showing trends in this area, it has a hard time locating the information contained in these study reports. What does this firm seem to need? ► A marketing research manager ► A marketing databank ► Survey research ► Primary data Question No: 8 ( Marks: 1 ) - Please choose oneWhich of the following are a form of product that consists of activities, benefits or satisfactions offered for sale that are




essentially intangible and do not result in the ownership of anything? ► Line extensions ► Services ► Brands ► SupplementsQuestion No: 9 ( Marks: 1 ) - Please choose oneWhich one of the following concept BEST represents the involvement of management and employees in the continuous improvement of the production of goods and services? ► Total quality management ► Marketing management ► Customer relationship management ► Knowledge management Question No: 10 ( Marks: 1 ) - Please choose oneThe publishers of “The Economist” developed a campaign to market the magazine to university and college students studying business and management courses. The publishers are focusing on which of the following strategies? ► Product development ► Horizontal diversification ► Market development ► Conglomerate diversification Question No: 11 ( Marks: 1 ) - Please choose oneWhich one of the following product requires a lot of advertising, personal selling and other marketing efforts because consumer either does not know about it or knows about it but does not normally think about buying? ► Specialty products ► Shopping products ► Industrial products ► Unsought products




Question No: 12 ( Marks: 1 ) - Please choose oneAccording to Peter Drucker goal of all organizations is to gain and retain customers. This is accomplished through: ► Marketing and Innovation ► Finance and Marketing ► Human resource and Marketing ► Finance and Human Resource Question No: 13 ( Marks: 1 ) - Please choose one“Cool” industry manufactures air conditioners. “ABC” company distributes its manufactured products to the markets. “ABC” is a: ► Competitor ► Marketing intermediary ► Customer ► Public Question No: 14 ( Marks: 1 ) - Please choose oneCompanies are refraining to use poisonous gases in the manufacturing of their products to prevent damage to the environment. The companies are trying to follow: ► Production Concept ► Product Concept ► Marketing Concept ► Societal Marketing Concept Question No: 15 ( Marks: 1 ) - Please choose oneThe selling concept is typically practiced for ________ goods. ► Convenience ► Shopping ► Specialty ► Unsought Question No: 16 ( Marks: 1 ) - Please choose oneWhich one of the following statements is an example of a problem that may arise in the implementation of the marketing concept?




► The marketer cannot satisfy all the marketing segments ► Consumers do not understand what the marketing concept is ► Dealers do not support the marketing concept ► A product may fit the needs of too many segments Question No: 17 ( Marks: 1 ) - Please choose oneWhat are we going to do? And, how are we going to do it? In which of the following categories do these two questions fall? ► Researching ► Planning ► Controlling ► ManagingQuestion No: 18 ( Marks: 1 ) - Please choose onePlanning which is used to supervise the operations of the organization is called: ► Strategic Planning ► Tactical Planning ► Operational Planning ► Mission Planning Question No: 19 ( Marks: 1 ) - Please choose oneA marketing department organization where a product manager develops a complete strategy for a product or brand is called: ► Functional Organization ► Geographic Organization ► Product Management Organization ► Customer Management Organization Question No: 20 ( Marks: 1 ) - Please choose oneNeighborhood residents and community organizations comprise part of a firm’s: ► Local Publics




► General Publics ► Governmental Publics ► Financial Publics Question No: 21 ( Marks: 1 ) - Please choose oneWhich of the following statements regarding the natural environment is FALSE? ► Weather has become less intense in the previous few years ► Increased pollution is a major concern for marketers today ► Global warming is a major issue for marketers to deal with today ► The threat of governmental intervention in natural resource management is a major issue for marketers Question No: 22 ( Marks: 1 ) - Please choose oneA(n) ________ is a segment of the population selected to represent the population as a whole. ► Survey ► Sample ► Experiment ► Market Question No: 23 ( Marks: 1 ) - Please choose oneA person on the University Book Shop's survey asks respondents to tell the researcher, in their own words, what they dislike about textbook shopping. What is the nature of this question? ► An open-ended ► A dichotomous ► A multiple choice ► A scale Question No: 24 ( Marks: 1 ) - Please choose oneThe consumer buyers’ characteristics are affected by which of the following factors?




► Cultural and Social ► Personal and Political ► Psychological and Demographical ► All of the given options Question No: 25 ( Marks: 1 ) - Please choose oneThe Hispanic, African American, Asian American, and mature consumers in America are all examples of: ► Culture ► Sub culture ► Social class ► All of the given options Question No: 26 ( Marks: 1 ) - Please choose oneIdentify the term used when buyers buy without modifications. ► New task ► Same order ► Straight rebuy ► Reorder Question No: 27 ( Marks: 1 ) - Please choose oneWhich of the following is NOT a characteristic of business markets? ► Business buyers are more emotional buyers than are final consumers ► Business markets are more geographically concentrated ► Business demand is derived demand ► Many business markets have inelastic demand Question No: 28 ( Marks: 1 ) - Please choose oneWhen Tetra Pack promotes the idea that milk should be drunk in the morning and the evening, it is using ____________.




► Behavioral segmentation ► Benefit segmentation ► Occasion segmentation ► Loyalty marketingQuestion No: 29 ( Marks: 1 ) - Please choose oneKPV firm has limited resources. Which marketing strategy would you suggest that KPV should adopt? ► Concentrated Marketing ► Differentiated Marketing ► Undifferentiated Marketing ► None of the given option Question No: 30 ( Marks: 1 ) - Please choose oneABC Company is the leading manufacturer of steel, cement and other uniform building materials. Which marketing strategy would you suggest that ABC Company should adopt? ► Concentrated Marketing ► Differentiated Marketing ► Undifferentiated Marketing ► None of the given option Question No: 31 ( Marks: 1 ) - Please choose oneIdentify the two broad classes that products and services fall into based on the types of consumers that use them. ► Consumer products and industrial products ► Core products and augmented products ► Specialty products and unsought products ► Convenience products and shopping products Question No: 32 ( Marks: 1 ) - Please choose oneWith what groups do firms conduct concept testing of new products? ► Suppliers ► Employees




► Target customers ► Focus groupshttp://groups.google.com/group/vuZs Question No: 33 ( Marks: 1 ) - Please choose oneA luxury car manufacturer was facing a loss as his sales were diminishing due to rising inflation and weak economy. He therefore decided to manufacture fuel efficient and cheaper cars. The manufacturer was stretching his product line: ► Upwards ► Downwards ► Both ways ► None of the given options http://groups.google.com/group/vuZs Question No: 34 ( Marks: 1 ) - Please choose oneLaunching a product in a small part of the market is called: ► Test marketing ► Product testing ► Marketing analysis ► All of the given Question No: 35 ( Marks: 3 )A firm is going to launch a new product into the market. They are looking for a brand name that can be associated with the product. What should be the characteristics of a good brand name? The brand should possess following characteristics:

a. Helps customer identify the products that may help them.b. It gives some insight about the product quality.c. Brand name gives reliability & dependability that everytime this brand is purchased, we will have the same specifications , quality , services without any compromise.d. Becomes the basis of a “Marketing Concept”






e. Brand name also helps in market segmentation which is part of market targeting.

Question No: 36 ( Marks: 5 ) Discuss the role of each participant in the business buying process?The single point where the decision of buying a business is to be made is called buying-center and all the participants who constitute or take part in this business buying process can be considered as constituents of this buying center. We may summarize the roles of each participant in the business buying process as follows:

1) User: Potential end user of the product / service that will be provided. At times this participant initiates the requirement and may give the basic idea about the specifications or requirements.2) Influencers: Helps to define detailed specifications and offer other / alternative sources for evaluation. These usually include technical personnel who have to ensure that requirements are set in the right way and are achievable.3) Buyers: Responsible for selection of suppliers / vendors. They can influence the requirements / specifications based on their experience or based on the databank of existing suppliers / vendors. However, these people are primarily responsible only for selection of suppliers / vendors. A standard practice employed these days by multi-national organizations is to have an Approved Vendors List where they enlist suppliers / vendors who are qualified, might have served them in past with satisfaction and are dependable for future requirements.




4) Deciders: A top or leading version of buyer. They will take the final decision on the suppliers and hence can be said to be team leaders for buying team.5) GateKeepers: Responsible for regulating and maintain the flow of information to others. This is to ensure that the INPUT of their company is distinctive and has a potential edge to survive in market and serve better.

Question No: 37 ( Marks: 5 )A company has to be careful while dividing the market into various segments. Some segments appear to be fruitful in the short run and unprofitable in the long run. Mention various structural factors that affect long-run segment attractiveness. A company many divide into small or large number of groups based on different characteristics such as behaviors, needs etc. This is done as part of market targeting process to meet organizational objectives and satisfy customer needs in better way. However, there are several structural factors that the attractiveness of long run segments which may include the following:

a. Influence of buyers on service / product providers. Strong buyers can force service providers to cut down their prices or offer more services at same price by even giving an opportunity to competitors.b. The segment opted by the company may be potentially less attractive market if there are several of substitutes already available in that segment. These substitutes do force the new entrants to be more competitive in terms of prices as well as quality for market penetration.c. The segment may not be attractive if the suppliers have an influence on the pricing and quality as they may practice monopoly.

MIDTERM EXAMINATION




Time: 60 min

Marks: 47Question No: 1 ( Marks: 1 ) - Please choose oneA marketing manager of a large consumer foods company is studying distribution, promotion, and price of the company's product. Marketing manager is studying which one of the following concepts? ► Marketing plan ► Marketing strategy ► Marketing mix ► Market offering Question No: 2 ( Marks: 1 ) - Please choose oneThrough which process individuals and groups obtain what they need and want by creating and exchanging products and value with others? ► Production process ► Marketing process ► Managerial process ► Accounting process Question No: 3 ( Marks: 1 ) - Please choose oneIf a local company wants to adopt the marketing concept. To be consistent with this move, it should adopt which of the following philosophies? ► Focusing on today is important for us ► Making money is our business ► The customer is always right ► Keeping prices low is our objectiveQuestion No: 4 ( Marks: 1 ) - Please choose oneA network of networks that consists of millions of smaller domestic, academic, business, and government networks, which




together carry various information and services. Which one of the following networks represents it? ► LAN ► Intranet ► Extranet ► Internet Question No: 5 ( Marks: 1 ) - Please choose oneWhich of the following is an intensive growth strategy of increasing sales in current markets with current products? ► Market development ► Market penetration ► Product development ► Market saturation Question No: 6 ( Marks: 1 ) - Please choose oneHarvard University is using the systematic design, collection, analysis, and reporting of data relevant to marketing its programs to minority students. What do we call this? ► Promotion ► Self-study ► Marketing research ► Cost-benefit analysisQuestion No: 7 ( Marks: 1 ) - Please choose one

Which one of the following stage is NOT a part of buyer’s black box?

► Brand choice ► Product choice ► Need recognition ► Dealer choice Question No: 8 ( Marks: 1 ) - Please choose oneAfter deciding to order replacement parts for ageing machinery, the buyer for a construction company examines catalogues and




trade publications. The buyer is probably at which stage of the organizational buying decision process? ► Problem recognition ► Product specification ► Product-supplier search ► Product evaluation Question No: 9 ( Marks: 1 ) - Please choose oneWhich one of the following factor indicates "the name, term, sign, symbol, design or a combination of these that differentiate the product of one seller or group of sellers from the other sellers"? ► Brand ► Package ► Label ► StyleQuestion No: 10 ( Marks: 1 ) - Please choose oneAfter concept testing, a firm would engage in which stage for developing and marketing a new product? ► Marketing strategy development ► Business analysis ► Product development ► Test marketing Question No: 11 ( Marks: 1 ) - Please choose oneWhich one of the following sets reflects the marketing strategy statement in new product development? ► Idea generation; idea screening; concept development ► Idea generation; concept development; concept testing ► Target market description; planned product positioning; sales goals ► Idea generation; test marketing; commercialization Question No: 12 ( Marks: 1 ) - Please choose one




Customer relationship management (CRM) focuses on creating two-way exchanges with customers so that firms have an intimate knowledge of their needs, wants and buying patterns. What does CRM deliver to customers for maintaining profitable customer relationships? ► Superior customer value ► Less expensive goods ► Quality products ► Variety of products Question No: 13 ( Marks: 1 ) - Please choose oneFast-food restaurants offer tasty and convenient food at affordable prices; they contribute to fatness that harms consumer health. Which one of the following concepts is NOT being followed by this company? ► Product concept ► Production concept ► Societal marketing concept ► Marketing conceptQuestion No: 14 ( Marks: 1 ) - Please choose oneWhich one of the following steps is NOT a part of marketing process? ► Analyzing marketing opportunities ► Selecting target market ► Designing the business portfolio ► Develop marketing mix Question No: 15 ( Marks: 1 ) - Please choose oneWhich one of the following is a chief goal of the implementation function in marketing process? ► Develops marketing plans ► Turns plans into actions ► Takes corrective actions ► Develops strategic plans




Question No: 16 ( Marks: 1 ) - Please choose oneMarketing Information System consists of people, equipment, and procedures to gather, sort, _____, evaluate, and distribute information to marketing decision makers. ► Analyze ► Arrange ► Test ► ControlQuestion No: 17 ( Marks: 1 ) - Please choose oneIn recent times there have been huge advancements in information technology. This era is known as: ► An old economy ► Transformation ► A new world ► The digital age Question No: 18 ( Marks: 1 ) - Please choose oneWhen competition is intense and there are many manufacturers then the buyer has more options of product switching. This is represented in Porters model as: ► Threat of new entrants ► Bargaining power of buyers ► Bargaining power of suppliers ► Rivalry among competing firms Question No: 19 ( Marks: 1 ) - Please choose oneWhich of the following is NOT a step in the strategic planning process? ► Defining the company mission ► Planning marketing and other functional strategies ► Setting company objectives and goals ► Setting pricing policies




Question No: 20 ( Marks: 1 ) - Please choose oneWhat is the purpose of strategic planning? ► Using strengths to achieve goals ► To develop new products ► To identify competitors ► To find methods of counting cash cows Question No: 21 ( Marks: 1 ) - Please choose oneWhich of the following is NOT a content of the marketing plan? ► Budget ► Production ► Objective ► ControlQuestion No: 22 ( Marks: 1 ) - Please choose oneWhich of the following is NOT a part of the marketing control process? ► Measure performance ► Evaluating performance ► Taking corrective actions ► Setting objective for the business Question No: 23 ( Marks: 1 ) - Please choose oneA marketing department organization where sales and marketing people are assigned to specific countries, regions, or districts is called: ► Functional Organization ► Geographic Organization ► Product Management Organization ► Customer Management Organization Question No: 24 ( Marks: 1 ) - Please choose oneThe disadvantage of observational research is: ► Information cannot be gained by observing relevant people ► Feelings, attitudes and motives cannot be observed




► It cannot be used to obtain information that people are unwilling or unable to provide ► All of the given options http://groups.google.com/group/vuZsQuestion No: 25 ( Marks: 1 ) - Please choose oneWhich of the following is the disadvantages of survey research? ► Survey research is not flexible ► The respondents can give inaccurate answers ► It is difficult to collecting primary data with survey research ► All of the given options Question No: 26 ( Marks: 1 ) - Please choose oneIn a reference group, people who have special skills, knowledge, personality, or other characteristics, and exert influence on others are called: ► Opinion leaders ► Habitual buyers ► Charismatic personalities ► Wild ducks Question No: 27 ( Marks: 1 ) - Please choose oneThe consumer buyer decision process begins with: ► Need recognition ► Information search ► Evaluation of alternative ► Purchase decisionQuestion No: 28 ( Marks: 1 ) - Please choose oneMr. X is interested in buying a carpet. Although the carpet is costly but there is very little perceived difference between the brands. This is an example of: ► Complex Buying Behavior ► Variety Seeking Buying Behavior ► Dissonance Reducing Buying Behavior





► Habitual Buying Behavior Question No: 29 ( Marks: 1 ) - Please choose oneThe bases of segmentation for business markets include __________. ► Demographic ► Situational factors ► Personal characteristics ► All of the given options Question No: 30 ( Marks: 1 ) - Please choose oneWhat does a company's market position influence? ► Focus ► Company’s marketing strategy ► Loyalty ► None of the given option http://groups.google.com/group/vuZsQuestion No: 31 ( Marks: 1 ) - Please choose oneAhmed bought a used car from a used car retailer. A used car is an example of: ► Convenience Products ► Shopping Products ► Specialty Products ► Unsought Products Question No: 32 ( Marks: 1 ) - Please choose oneWhich of the following options refers to “New Products”? ► Product modifications ► Product improvements ► New brands that a firm develops ► All of the given options Question No: 33 ( Marks: 1 ) - Please choose one





Toyota is developing an electric car, powered by solar energy. They are currently working on several alternatives of the car and need to find out which version of the car prospective customers find most appealing. This is an example of the _________ stage of the product development process. ► Idea generation ► India screening ► Concept development ► All of the given options Question No: 34 ( Marks: 1 ) - Please choose oneWhich of the following is a shortest product life cycle? ► Fad ► Fashion ► Style ► None of the given options Question No: 35 ( Marks: 3 ) A well known company introduced a new product in the market; unfortunately the product was a complete failure. Highlight the reasons why new product sometimes fails to earn revenue. Reasons of Failure of New Product: There are several reasons of failure of new products in the market. Some of them are listed below:

1- Over Estimated Market Size:The market size may have been overestimated. 2- Actual Product not designed:

Perhaps the actual product was not designed as well as it should have been.

3- Incorrectly Positioned:




One of the reason for failure could be that maybe it was incorrectly positioned in the market.

4- Highly- Priced:One of the main reason of the failure could be that the product is priced too high. So, that not all the customer can afford the price.

5- Poorly Advertised:No doubt if the product is of really value for money, but because of the reason that poor or no attention was paid to its advertisement, because of this , the product failed in the marketing. 6- Poor Market Research:

A high-level executive might push a favorite idea despite poor marketing research findings.

7- High Cost of Product Development:

The one of the reason of failure could be Sometimes the costs of product development are higher than expected.

8- Competitors: One of the reason of failure is because of vast and strong market Competition. Sometimes competitors fight back harder than expected.Question No: 36 ( Marks: 5 )Market research is important for marketers it enables to answer certain question in the mind of a marketer, what type of questions can be answered through market research? ANSWER: The information collected must be accurate, so the design of a questionnaire is of great importance. It should consist of questions




that have the same meaning, a single meaning and the intended meaning to everyone. Questions should be numbered and have instructions to the investigator concerning the conduct of the interview in bold face, capital letters and underlined. Answer codes should be as near to the right-hand side as possible, and lines drawn at suitable intervals can bring clarity to the design.The types of questions most commonly used are as follows.

1. Open-ended questions give the informant a hint of what

answer might be expected. A question which begins ‘What

do you think of...?’ will bring forth large amounts of data

which cannot always be satisfactorily summarised, but this

type of question is useful in the pilot stage to show the range

of likely answers.

2. Unaided recall questions do not mention the nature of the

answer material and avoid asking leading questions; e.g.

‘How did you travel to the station to catch this train?’

3. Dichotomous questions offer two choices of answer, usually

‘yes’ and ‘no’.

4. Multiple-choice questions (‘cafeteria’ questions) offer a

graduated range of possible answers, listed in order from one

extreme to the other.




5. Thermometer questions ask informants to rate their feelings

on a numerical scale, e.g. 0-10. This type of question seeks to

minimise the disadvantage of discrete classification in the

multi-choice type question.

6. Checklists are a standard way of prompting the memory of a

respondent without being biased by the interviewer.

However, brand leaders may be selected more frequently

because of the weight of advertising.

T Y P E S O F Q U E S T I O N S T O B E A S K E D :1. Use simple words that are familiar to everyone (i.e. shop not

outlet, shopkeeper not retailer).

2. Keep questions short.

3. Avoid asking double-barrelled questions (e.g. ‘Have you a

radio and/or television set?’).

4. Do not ask leading questions (e.g. ‘Do you buy instant coffee

because it is the quickest way to make coffee?’).

5. Do not mention brand names (e.g. ‘Do you consider Sony to

be the best audio equipment?’).




6. Do not ask questions that may offend (e.g. ‘Do you work or

are you a housewife?’).

7. Avoid using catch phrases or colloquialisms.

8. Avoid words that are not precise in their meanings (e.g.

‘Does this product last a reasonable length of time?’).

9. Remember that direct questions will not always elicit the

expected response - perhaps not all possible answers have

been foreseen (e.g. the question ‘Are you married?’ does not

cover the possibilities of divorce, separation, etc.)

10. Questions concerning prestige goods may not be

answered truthfully. Careful rewording can avoid this (e.g.

‘Have you a television capable of receiving teletext

transmissions?’ might be better asked by ‘How many hours

per week do you watch television?’, followed by: ‘Do you

watch teletext transmissions?’).

11. Only questions that the respondent can answer from

knowledge or experience should be asked.

12. Questions should not depend on the respondent’s

memory.




13. Questions should only allow one thought to be created

in the respondent’s mind to avoid confusion and

inappropriate answers. This particularly applies to questions

beginning with ‘Why....?’

14. Avoid questions or words with an emotional bias.

The first questions asked should gain the interest of the informant, and should be easy to answer in a factual way. More difficult questions should come later, with those of greatest importance being about a third of the way through. Transition from question to question should be smooth and logical. Details of the respondent, if they are needed (age, address, name, occupation etc.) should appear at the end. The questionnaire must have a title and contain cross-references to others if needed, along with the interviewing district identification, the place and date of the interview and the interviewer’s name. Question No: 37 ( Marks: 5 )Industrial products are those purchased for further processing or for use in conducting a business. These products have been categorized into three groups. What do you know about these groups of industrial products? Answer: Industrial products are those purchased for further processing or for use in conducting a business. Thus, the distinction between a consumer product and an industrial product is based on the purpose for which the product is bought. If a consumer buys a lawn mower for use around home, the lawn mower is a consumer product. If the same consumer buys the same




lawn mower for use in a landscaping business, the lawn mower is an industrial product. The (3)three groups of industrial products and services include:

1- materials and parts2- capital items.3- supplies and services.

Now we will discuss these three in details:

1- Materials and parts: It include raw materials and manufactured materials andparts. Raw materials consist of farm products (wheat, cotton, livestock, fruits, vegetables) and natural products (fish, lumber, crude petroleum, iron ore). Manufactured materials and parts consist of component materials (iron, yarn, cement, wires) and component parts (small motors, tires, castings). Most manufactured materials and parts are sold directly to industrial users. Price and service are the major marketing factors; branding and advertising tend to be less important. The demand for industrial products is derived from the demand for consumer products. This is known as "derived demand."

2- Capital items: These are the are industrial products that aid in the buyer's production or operations, including installations and accessory equipment. Installations consist of major purchases such as buildings (factories, offices) and fixed equipment (generators, drill presses,large computer systems, elevators). Accessory equipment includes portable factory equipment and tools (hand tools, lift trucks) and




office equipment (fax machines, desks). They have a shorter life than installations and simply aid in the production process.

3- supplies and services:

It’s the final group of business products. Supplies include operating supplies (lubricants, coal, paper, pencils) and repair and maintenance items (paint, nails, brooms). Supplies are the convenience products of the industrial field because they are usually purchased with a minimum of effort or comparison. Business services include maintenance and repair services (window cleaning, computer repair) and business advisory services (legal, management consulting, advertising). Such services are usually supplied under contract.

MIDTERM EXAMINATION


If the company’s sales are slow down, and profits level off or decline. At which stage the company has reached?

► Introduction

► Decline

► Growth

► Maturity


A period of rapid market acceptance and increasing profits refers to which of the following stages of the product life cycle?




► Decline

► Maturity

► Introduction

► Growth


In which of the following product life cycle stages, sales are zero and the company’s investment costs mount?

► Product development

► Introduction

► Growth

► Maturity


Which one of the following groups is skeptical and adopts innovations only after most of the market has accepted the product?

► Innovators

► Late majority

► Early Adopter

► Early Majority


A review of the sales, costs and profit projections for a new product to find out whether they satisfy the company’s objectives refers to which one of the following concepts?




► Business feasibility

► Feasibility study

► Business analysis

► Product acceptance


After concept testing, a firm would engage in which stage for developing and marketing a new product?

► Marketing strategy development



► Test marketing


Which one of the following categories refers to a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges?

► Product line

► Line extension

► Private brand

► Product bandwidth


Marketers need to position their brands clearly in target customers’ minds. The strongest brands go beyond attributes or benefit




positioning. On which of the following basis the products are positioned?

► Desirable benefit

► Good packaging

► Strong beliefs and values

► Customer image


Which one of the following attribute may grab attention and produce pleasing aesthetics, but it does not necessarily make the product perform better?

► Design

► Style

► Variable

► Packaging


You have an upset stomach. Your spouse rushes to the corner convenience store for a medicine. This product falls under which of the following categories?

► Unsought

► Convenience

► Shopping

► Specialty





Product planners need to think about products and services on three levels. Each level adds more customer value. Which one of the following is the most basic level that addresses the question, “What is the buyer really buying?”

► Actual product

► Augmented product

► Core benefit

► Co-branding


Mass marketers, such as Target and Venture Stores, ignore market segment differences and target the whole market with one offer. What is their approach to segmenting?

► Undifferentiated marketing

► Differentiated marketing

► Target marketing

► Intelligent marketing


A marketer has brought same products in the market for all segments without considering the needs and wants of the customers. Which one of the following strategy is being practiced by the marketer?

► Undifferentiated marketing strategy

► Differentiated marketing strategy

► Concentrated marketing strategy

► Custom marketing strategy





Demographic segmentation divides the market into groups based on which of the following variables?

► Size, location, industry, customer

► Size, company, industry, technology

► Location, size, occupation, race

► Customer, technology, company, industry


Income segmentation is used to target which of the following groups?

► Affluent

► Middle class

► Lower income class

► All of the given options


When a company identifies the parts of the market it can serve best and most profitably. Which one of the following factor is in the practice of a company?

► Concentrated marketing

► Mass marketing

► Targeted marketing

► Market segmentation





Which of the following demands that business markets have more?

► Derived demands

► Steady demands

► Fluctuating

► Competitive


The mental act, condition or habit of placing trust or confidence in another shows which of the following options?

► Motive

► Belief

► Behavior

► Attitude


People are expected to perform activities according to the persons around them. These activities reflect which one of the following concept?

► Motive

► Role

► Lifestyle

► Tradition





How do consumers respond to various marketing efforts the company might use? What is a starting point of a buyer’s behavior?

► Belief

► Subculture

► Post purchase feeling

► Stimulus-response Model


A person on the University Book Shop's survey asks respondents to tell the shop, in their own words, what they like least about textbook shopping. What is a type of this question?

► An open-ended

► A dichotomous

► A multiple choice

► A scale


General Motors need to assess the company's image relative to a new competitor. The time schedule is flexible, the research budget is very limited and a low response rate will not be a major problem. Which one of the following survey would be used by General Motors?

► Mail

► Telephone

► Personal interview

► Population





If Proctor and Gamble 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?

► Focus groups

► Mail surveys

► Personal interviews

► Observations


The objective of which of the following research is to gather preliminary information that will help define the problem and suggest hypotheses?

► Descriptive

► Exploratory

► Causal

► Corrective


Harvard University is using the systematic design, collection, analysis, and reporting of data relevant to marketing its programs to minority students. What do we call this?

► Promotion

► Self-study

► Marketing research

► Cost-benefit analysis





Marketing information from which of the following databases can be accessed more quickly and cheaply?

► External

► Internal & External

► Internal

► Representatives


The marketing information system is not limited to use by the company. It may also provide information to which of the following?

► The government

► External partners

► Various publics

► Competitors


Beliefs and values that are passed on from parents to children and are reinforced by schools, churches, business and government refer to which of the following beliefs and values?

► Crucial

► Core

► Secondary

► Primary





Which of the following forces shows the marketing macro environment?

► Demographic, economic, natural, technological, political, and social

► Demographic, natural, economic, political, social, and cultural

► Demographic, economic, natural, technological, political, and cultural

► Demographic, economic, natural, social, political, and legal


Finance, research and development, purchasing and manufacturing are all activities of which element of the microenvironment?

► The suppliers

► The competitors

► The companies

► The publics


Which one of the following is NOT a content of marketing plan?

► Objectives

► Control

► Budget

► Production





Some banks have increased their market share by offering accounts especially for children in another city. This example illustrates which of the following growth strategies?

► Market penetration

► Market development

► Horizontal diversification

► Conglomerate diversification


Three main strategies for intensive growth are market penetration, product development and the other one?

► Product improvement

► Market saturation

► Market growth



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

► Long-range planning

► Short-range planning

► Annual planning

► Strategic planning





In case of an intense competition there are a number of manufacturers and buyers who have more options for product switching. Which one of the following forces represents it?

► Threat of new entrants

► Bargaining power of buyers

► Bargaining power of suppliers

► Rivalry among competing firms


Which one of the following concepts is a useful philosophy in a situation when the product’s cost is too high and marketers look for ways to bring it down?

► Selling concept

► Product concept

► Production concept

► Marketing concept


When a church targets different demographic groups to increase attendance, it is an example of which of the following options?

► Mindless marketing

► Ethics in marketing

► Societal marketing

► Not-for-profit marketing





If a food company gives 5 percent discount in particular burger to increase sales, it is altering which one of the following elements of the marketing mix?

► Promotion

► Price

► Product

► Place


An automobile manufacturing company places steel beams in the doors of its cars for which of the following purposes?

► Increase short run customer satisfaction

► Increase long run customer satisfaction

► Add style to its cars

► Reduce the possibility of accidents


Identify the name for the recent technology advances including wide use of the Internet?

► An old economy

► Transformation

► A new world.

► The digital age

Question No: 41 ( Marks: 10 )




A marketer plays an important role in increasing the sales of an organization. What guiding principles did he follow to become a successful marketer and which skills he needed?

ANSWER:

• He should satisfy the customers' need with quality product,

competitive price and satisfaction on the company's brand.

• He should meet the market demand by supplying sufficient

quantity of his products as, when and where demanded.

• He should use the modern techniques of promotion of his

product or service to convince the mind of customers.

• He should provide good after sale services to further satisfy

the customers. Feedback from the market and take remedial

measures to improve the quality of product, packaging and

labeling should also be improved.

• He will have good market survey to ensure the improvement

of his product and competitive price

MIDTERM EXAMINATION

Time: 60 min

Marks: 47





Your firm has just developed its first successful MIS. It interacts with information users to assess information needs, develop needed information, _____ the marketing information and help managers use it in their decision making.

≈ Distribute

≈ Collect

≈ Retrieve

≈ Store


People are expected to perform activities according to the persons around them. These activities reflect which one of the following concept?

≈ Motive

≈ Role

≈ Lifestyle

≈ Tradition





Companies are refraining to use poisonous gases in the manufacturing of their products to prevent damage to the environment. The companies are trying to follow:

≈ Production Concept

≈ Product Concept

≈ Marketing Concept

≈ Societal Marketing Concept


If Proctor and Gamble 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?

≈ Focus groups

≈ Mail surveys

≈ Personal interviews

≈ Observations


Advertising agencies are an example of which of the following marketing intermediaries?




≈ Insurance company

≈ Financial intermediary

≈ Marketing services agency

≈ Physical distribution firm


Through which process individuals and groups obtain what they need and want by creating and exchanging products and value with others?

≈ Production process

≈ Marketing process

≈ Managerial process

≈ accounting process


Which one of the following scheme is TRUE regarding marketing research in sequence?

≈ Gathering data, analysis, interpretation

≈ Analysis, gathering data, interpretation

≈ Interpretation, gathering data, analysis

≈ Interpretation, reporting, analysis





Which method of research can be used to obtain information if people are unwilling or unable to provide?

≈ Observations

≈ Focus groups


≈ Questionnaires


When a church targets different demographic groups to increase attendance, it is an example of which of the following options?

≈ Not-for-profit marketing

≈ Mindless marketing

≈ Ethics in marketing

≈ Societal marketing


Sampling requires the answer to three questions. Which of the following is an inappropriate one?




≈ Who is to be sampled (what sampling unit)?

≈ How many people should be surveyed (what sample size)?

≈ Why should they be sampled (justification)?

≈ How should the people be chosen (what sampling method)?


Relationship marketing is a consistent application of up to date knowledge of individual customers to product and service design. Why it is communicated interactively to customers?

≈ For delivering short term value & satisfaction to customers

≈ For delivering long term value & satisfaction to customers

≈ For delivering short term value to management

≈ For delivering long term value to management



≈ Size, location, industry, customer

≈ Size, company, industry, technology

≈ Location, size, occupation, race

≈ Customer, technology, company, industry





When the size, purchasing power and profiles of business market segments can be determined, they are said to possess the requirement of being what?

≈ Measurable

≈ Accessible

≈ Substantial

≈ Actionable


Which one of the following sets reflects the marketing strategy statement in new product development?

≈ Idea generation; idea screening; concept development

≈ Idea generation; concept development; concept testing

≈ Target market description; planned product positioning; sales goals

≈ Idea generation; test marketing; commercialization


The concepts of exchange and relationships lead to the concept of a market. Which one of the following sets reflects the market?




≈ Actual buyers & Potential buyers

≈ Whole sellers & Retailers

≈ Consumers & Customers

≈ Agents & Brokers


Which one of the following sets represents 4 C’s of the marketing mix?

≈ Customer solution, cost, convenience, communication

≈ Customer, cost, convenience, comfort

≈ Convenience, communication, coverage, cost

≈ Cost, coverage, communication, consultancy


Supply's sales force of ABC Company continues to expand, the firm plans to add a fleet of company cars to its sales compensation package. For ABC Company, this would represent which one of the following purchases?

≈ New-task

≈ Modified rebuy

≈ Straight rebuy




≈ Repetitive


The Cost to attract a new customer is how much more than to keep a current customer satisfied.

≈ 5 to 10 times

≈ 6 to 12 times

≈ 10 to 20 times

≈ 10 to 15 times


XYZ retail store tries to satisfy all its customers and makes every effort in achieving its sales. This is because they believe that losing a customer means not only losing a single sale but the entire stream of purchase that customer will make in his life time of patronage. This phenomenon is known as:

≈ Customer Lifetime Value

≈ Customer Equity

≈ Superior Customer Value

≈ Customer Satisfaction


Which one of the following options refers to “The art and science of choosing target markets and building profitable relationships”?




≈ Customer relationship management

≈ Knowledge management

≈ Total quality management

≈ Marketing management


In Boston Consulting Group approach, which one of the following options provides a measure of market attractiveness?

≈ Business portfolio

≈ Market share

≈ Market growth rate

≈ Relative market share


The process in which individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires is known as:

≈ All of the given options

≈ Consumer behavior

≈ Supplier behavior




≈ Organizational behavior


Brand created and owned by the producer of a product or service is called:

≈ National Brand

≈ Private Brand

≈ License Brand

≈ Co-branding


Marketing management functions in ascending order are:

≈ Control – implementation – market planning

≈ Market planning – control – implementation

≈ Implementation – control – market planning

≈ Marketing planning – implementation - control





The marketing mix consists of the four Ps: product, price, place, and promotion. In this modern marketing era, these tools might be more appropriately named the four Cs: Customer solution, Customer cost, Communication and ___________.

≈ Customer control

≈ Convenience

≈ Consideration

≈ Customer relationship


Launching a product in a small part of the market is called:

≈ Test marketing

≈ Product testing

≈ Marketing analysis

≈ All of the given


The Planning which is concerned with translating the general goals and plans developed by strategic managers into objectives that are more specific is called:

≈ Strategic Planning

≈ Tactical Planning

≈ Operational Planning




≈ Mission Planning


In a business market the buyer has to make the most amount of decisions while making a:

≈ Straight rebuy

≈ New task

≈ Modified rebuy

≈ None of the given options


Manufacturers of surf excel are successful in making their product occupy a desirable place in the hearts of its customers. Now surf excel is considered as a powerful all purpose family detergent. The marketers have successfully ___________ its product.

≈ Differentiated

≈ Targated

≈ Positioned

≈ Segmented





XYZ companying is designing different products for different age groups. They are keeping in mind the needs, wants and demands of the different age groups so that their product would prove successful and profitable. XYZ is practicing

≈ Mass marketing

≈ Segment marketing

≈ Niche marketing



A good package may:

≈ Protect the product

≈ Help to sell the product

≈ Raise total distribution cost



Which of the following steps in strategic planning occurs at the business unit level rather than the corporate level?

≈ Defining the company mission

≈ Planning marketing strategies

≈ Setting companies objectives and goals

≈ Designing the business portfolio





Which of the following options refers to “New Products”?

≈ Product modifications

≈ Product improvements

≈ New brands that a firm develops



A political force is one of the actors of marketing macro environment. It is difficult for the marketers to deal with the political environment because:

≈ It is simple to recognize

≈ It is beyond their control

≈ It is easily ignored

≈ It is easily influenced

Differentiate between performance quality and conformance quality of the product.





List down the factors which plays important role for the development and marketing of individual products and services?


How many stages are involved in adoption process?

MIDTERM EXAMINATION

Ref No:

Time: 60 min


A social and managerial process by which individuals and organizations obtain what they need and want through value creation refers to which one of the following concepts?

► Selling

► Advertising

► Barter

► Marketing


A business can have excellent products and services due to excellent marketing skills and techniques that are essential for a company's success. So what are the requirements needed for today’s marketer to achieve the organization‘s goals?

► Neither creativity nor critical thinking skills




► Both creativity and critical thinking skills

► Critical thinking skills but not creativity

► Creativity but not critical thinking


A marketing manager of a large consumer foods company is studying distribution, promotion, and price of the company's product. Marketing manager is studying which one of the following concepts?

► Marketing plan

► Marketing strategy

► Marketing mix

► Market offering


Which one of the following phrases reflects the marketing concept?

► The supplier is a king in the market

► Marketing should be viewed as hunting not gardening

► This is what I make, won’t you please buy it?

► This is what I want, won’t you please make it?

(vuZs confirmed)


Which one of the following options is best to explain the purpose of intranets?




► Buying and selling processes

► Business-to-business purchasing

► Communication among employees

► Maintaining customer relations


What are we going to do? And, how are we going to do? In which of the following categories these two questions fall?

► Researching

► Planning

► Controlling

► Managing


XYZ Company purchased Hear Music and began making compilation music CDs to play and sell in its stores. It has also tested new restaurant concepts; XYZ Company is considering which of the following strategies?



► Diversification



The strategic marketing process is how an organization allocates its marketing mix resources to reach its:




► Stated business idea

► Target market

► Competition

► Area of expertise


Which of the following sets refers to the order or sequence of marketing management functions?

► Control – implementation – market planning

► Market planning – control – implementation

► Implementation – control – market planning

► Marketing planning – implementation - control



► Mail

► Telephone


► Population





A person on the University Book Shop's survey asks respondents to tell the shop, in their own words, what they like least about textbook shopping. What is a type of this question?

► An open-ended

► A dichotomous

► A multiple choice

► A scale


Currently, you find yourself involved in marketing research. The research you are using is flexible, allows explanation of difficult questions and lends itself to showing products and advertisements. What is this form of research?

► Personal interviewing

► Online interviewing

► Vision phone interviewing

► Mall intercepts


Marketing researchers usually draw conclusions about large groups of consumers by studying which of the following small component of the total consumer population?

► Group

► Sample

► Target group

► Audience





In creating research questionnaires, which of the following is good advice for research specialist to follow?

► Use care in the wording and ordering of questions

► Questions do not have to be arranged in a logical order

► Ask personal questions in the middle of the instrument

► Avoid eye contact as it may confuse the respondents


How do consumers respond to various marketing efforts the company might use? What is a starting point of a buyer’s behavior?

► Belief

► Subculture

► Post purchase feeling

► Stimulus-response Model


Which one of the following factor relates to family that influences consumer behavior?

► Cultural

► Social

► Personal

► Business





A change in an individual's behavior prompted by information and experience refers to which one of the following concept?

► Learning

► Role selection

► Perception

► Motivation


Unique psychological characteristics that lead to relatively consistent and lasting responses to one’s own environment refers to which one of the following?

► Belief

► Culture

► Personality

► Self-awareness


The buying process starts from which one of the following stage in which the buyer recognizes a problem or need?

► Need recognition

► Information search

► Evaluation of alternative

► Purchase decision





The consumer can obtain information from any of several sources. Which is NOT one of these sources?

► Personal

► Commercial

► Attitude

► Public


Which one of the following factor is the most effective source of obtaining information that legitimizes or evaluates products for the buyer?

► Public

► Experimental

► Personal

► Social


You enter a shop and call the department manager to assist in the purchase of industrial equipment. You are considering a change in product specifications, terms or suppliers. This specifies which of the following buying situations?

► Modified rebuy

► New task

► Straight rebuy

► Gatekeeper activity





You purchase cleaning supplies for your custodial help regularly. It is showing which buying situation?

► Modified rebuy

► Straight rebuy

► Modified straight rebuy

► Consumer buy


A transaction in which the organization is making an initial purchase of an item to be used to perform a new job refers to which of the following purchases?

► Straight rebuy purchase

► Delayed purchase

► New-task purchase

► Modified rebuy purchase


Mobilink divides buyers into groups based on their knowledge, attitudes, uses or responses to a product. It is obviously using which type of segmentation?

► Behavioral

► Psychographic

► Demographic

► Geographic





Following are the variables for the segmentation of international markets EXCEPT:

► Geographic factors

► Economic factors

► Cultural factors

► Psychological factors


Marketers need to position their brands clearly in target customers’ minds. The strongest brands go beyond attributes or benefit positioning. On which of the following basis the products are positioned?

► Desirable benefit

► Good packaging

► Strong beliefs and values

► Customer image


Which one of the following categories refers to a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges?

► Product line

► Line extension

► Private brand

► Product bandwidth





When a company introduces additional items in a given product category under the same brand name, such as new flavors, forms, colors, ingredients, or package sizes refers to which of the following steps?

► Line extensions

► Product mix

► Service variability

► Service intangibility


The purpose of idea generation is to create a _____ of ideas. The purpose of succeeding stages is to _____ that number.

► Small number; reduce

► Small number; increase

► Large number; increase

► Large number; reduce


A review of the sales, costs and profit projections for a new product to find out whether they satisfy the company’s objectives refers to which one of the following concepts?

► Business feasibility

► Feasibility study


► Product acceptance





Which one of the following steps calls for testing new-product concepts with groups of target consumers in new product development?

► Concept development

► Concept testing

► Idea generation

► Test marketing


Which one of the following groups of people get the product exposure but is not often perceived by the majority of potential buyers as typical consumers?

► Early Majority

► Late Majority

► Early Adopter

► Innovators


If BATA Company Ltd. has slow sales growth, profits are nonexistence and there are heavy expenses incurred. Which of the following stage is being faced by the BATA?

► Introduction

► Growth

► Maturity

► Decline





First National Bank launches an innovative in-home banking system tied to personal computers. The product is not widely accepted because bank customers don't see the need for such a service. Which one of the following is the best discretion of product failure?

► Establishment of a customer information system

► Organization structure

► Technological advancement

► Scanning corporate capabilities


When a customer pays Rs.1000 and receives a television set in return. What does this example show?

► Exchange

► Transaction

► Market

► Segment


Identify the first step in a strategic planning process.

► Define the company's mission

► Develop the business portfolio

► Plan marketing strategies

► Set objectives and goals





The publishers of “The Economist” developed a campaign to market the magazine to university and college students studying business and management courses. The publishers are focusing on which of the following strategies?


► Horizontal diversification


► Conglomerate diversification


Information about consumers, competitors and channel members (wholesalers, and retailers) is collected mostly from which one of the following sources?

► External environment

► Internal environment

► Top management

► Middle management


Suppose marketers at Lever Brothers are trying to determine whether the use of coupons for detergent was the reason for a sales increase in a particular store. What type of study conducted to answer this question?

► Exploratory

► Descriptive

► Causal




► Qualitative


Discuss the reasons of the vanishing mass market.

Mass Marketing: is defined as creation of products in bulk and then companies sell them to the consumer.

Reasons for vanishing Mass market:

1. Now-a-days markets are more customer-oriented and marketers and organizations usually first determine the needs, wants and demands of a consumer and then they create the product which is not what was done in mass marketing.

2. Mass marketing usually follows the Production concept but now-s-days companies and marketers prefer to use the Marketing concept or Societal Marketing concept.

MIDTERM EXAMINATION

Time: 60 min

Marks: 50


An automobile manufacturing company places steel beams in the doors of its cars for which of the following purposes?

► Reduce the possibility of accidents




► Increase short run customer satisfaction

► Increase long run customer satisfaction

► Add style to its cars


Any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor reflects which one of the following concepts?

► Sales promotion

► Direct marketing

► Advertising

► Personal selling


Which one of the following options refers to “The art and science of choosing target markets and building profitable relationships”?

► Customer relationship management

► Knowledge management

► Total quality management

► Marketing management


Which one of the following statements by a company chairman BEST reflects the marketing concept?

► We have organized our business to satisfy the customer needs




► We believe that marketing department must organize to sell what we produce

► We try to produce only high quality, technically efficient products

► We try to encourage company growth in the market


The marketing concept is a philosophy that states that an organization determines the needs and wants of target markets and delivers the desired satisfactions more effectively and efficiently than competitors do. What is the impact of this philosophy on the organization?

► Increase market share

► Increase sales of the products

► Achieve the organization’s goals

► Provide quality products


The digital age will fundamentally change customers’ thinking of convenience, speed, price, product information and service. This new consumer thinking will affect which one of the following businesses?

► A few businesses

► Every business

► Established businesses

► Starting up businesses





XYZ Company purchased Hear Music and began making compilation music CDs to play and sell in its stores. It has also tested new restaurant concepts; XYZ Company is considering which of the following strategies?



► Diversification



Which of the following is an intensive growth strategy of increasing sales in current markets with current products?




► Market saturation


The strategic marketing process is how an organization allocates its marketing mix resources to reach its:

► Stated business idea

► Target market

► Competition

► Area of expertise





Which of the following sets refers to the order or sequence of marketing management functions?

► Control – implementation – market planning

► Market planning – control – implementation

► Implementation – control – market planning

► Marketing planning – implementation - control



► Insurance company

► Financial intermediary

► Marketing services agency

► Physical distribution firm


Which type of management is responsible for setting the company’s mission, objectives, broad strategies and policies?

► Top management

► Middle level management

► Low level management

► Functional management





Which one of the following environment is made up of institutions and other forces affecting society’s basic values, perceptions, preferences and behaviors?

► Cultural environment

► Fictitious environment

► Natural environment

► Political environment


Gathering secondary information is one of the steps of developing the research plan. What does the meaning of secondary information in marketing research?

► That does not currently exist in an organized form

► That already exists somewhere, having been collected for another purpose

► That the researcher can obtain through surveys and observation

► That already exists somewhere in an organized form


How would you describe the primary data being used by your firm?

► Collected for the specific purpose

► Original information

► First-time information

► Fresh and reliable than secondary data





In the previous three years, four studies have been conducted on the characteristics of ABC Company’s clients. As the firm seeks to put together a report showing trends in this area, it has a hard time locating the information contained in these study reports. What does this firm seem to need?

► A marketing research manager

► A marketing databank

► Survey research

► Primary data



► Mail

► Telephone


► Population


Which one of the following stage is NOT a part of buyer’s black box?

► Brand choice

► Product choice





► Dealer choice


Groups of people with shared value systems based on common life experiences and situations in a culture represent which one of the following option?

► Motives

► Attitudes

► Cognitive dissonances

► Subcultures


Which one of the following three-step process represents “Perception”?

► Motivation, personality and attitudes

► Collecting, eliminating and organizing information inputs

► Receiving, organizing and interpreting information inputs

► Anticipating, classifying and discarding information inputs


Maslow has a list of human needs from the most pressing to the least pressing. They include all of the following EXCEPT:

► Physiological needs

► Safety needs





► Self-actualization


Identify the process by which individuals organize and interpret their sensory impressions in order to give meaning to their environment?

► Personality

► Perception

► Selective group

► Habitual behavior


Mr. Salman works for an organization in which his purchases must be accountable to the public. His buying procedures are extremely complex. Based on this description, he works for an organization in which market type?

► Reseller

► Producer

► Supplier

► Government


The fact that organizational customers purchase products to be used directly or indirectly in the production of goods and services to satisfy customers' needs. This situation shows which of the following demands?

► Joint




► Derived

► Inelastic

► Fluctuating


The receptionist at a doctor's office throws away certain product circulars mailed by pharmaceutical companies and keeps the ones on products she believes are useful. The receptionist is performing which role in the buying centre?

► Influencer

► Buyer

► Decider

► Gatekeeper


In its purchase of a small business computer, Mr. Ateeq asked that potential suppliers provide information only on units with 1Mb of memory. As management evaluates the purchase, it finds that 1Mb is inadequate for many of the software programs they use. In this instance, the firm would need to modify which aspect of the purchase process?

► Searching

► Specification development

► Alternative evaluation

► Performance evaluation






► Affluent

► Middle class

► Lower income class

► All of the given options

for more contents visit




► Size, location, industry, customer

► Size, company, industry, technology

► Location, size, occupation, race

► Customer, technology, company, industry


When the size, purchasing power and profiles of business market segments can be determined, they are said to possess the requirement of being what?

► Measurable

► Accessible

► Substantial

► Actionable






The three groups of industrial products and services include all of the following EXCEPT:

► Materials and parts

► Capital items

► Maintenance and operations

► Supplies and services


Less frequently purchased consumer products and services which are compared by the customer on different product attributes, refers to which one of the following product?

► Specialty products

► Shopping products

► Unsought products

► Industrial products


You have an upset stomach. Your spouse rushes to the corner convenience store for a medicine. This product falls under which of the following categories?

► Unsought

► Convenience

► Shopping

► Specialty





Customer service is another element of product strategy. The first step is to survey customers periodically to assess the value of current services and to obtain ideas for new ones. From this careful monitoring, marketer has learned that buyers are very upset by repairs that are not done correctly the first time. What is the name of these types of services?

► Brand equity services

► Product support services

► Social marketing services

► Unsought product services


The consumer decides to make use of the product on a regular basis. Which one of the following concepts BEST describe it?

► Awareness

► Interest

► Trial

► Adoption


In which one of the following stages of the product life cycle sales fall off and profits stop?

► Growth

► Introduction

► Decline




► Maturity


First National Bank launches an innovative in-home banking system tied to personal computers. The product is not widely accepted because bank customers don't see the need for such a service. Which one of the following is the best discretion of product failure?

► Establishment of a customer information system

► Organization structure

► Technological advancement

► Scanning corporate capabilities


Honda Atlas Cars Pakistan Limited is introducing a faster model of car in the market regardless of whether the customers are interested or not in more speed, Honda Atlas Cars Pakistan Limited is practicing which of the following concepts?

► Social

► Production

► Sales

► Marketing


The marketing concept holds that delivering the desired satisfaction to customers more effectively and efficiently creates customer loyalty. What might be another reason that creates customer loyalty?




► The customers' needs are met at a price that represents value for money

► The company produces a product with enough features to satisfy everybody

► A company offers numerous 'specials' to customers in the market

► The company's marketing activities are persuasive enough


Buying goods and services for further processing or for use in the production process refers to which of the following markets?

► Consumer markets

► Government markets

► Business markets

► International markets


Markets can be segmented into group of non-users, ex-users, potential users, first-time users and regular users of a product. It refers to which type of segmentation?

► User status

► Usage rate

► Loyalty status

► Seller status





One of the major developments in marketing can be summed up in one buzzword: relationships. Define customer relationship management and how organizations build long-term relationships with their customers. Briefly explain it with an example.

MIDTERM EXAMINATION


Question No: 1 ( Marks: 1 ) - Please choose oneThe type of product that results from applying human and mechanical efforts to people or objects refers to which one of the following options?► An idea► A service► A philosophy► A conceptQuestion No: 2 ( Marks: 1 ) - Please choose oneWhen Olympia Carpets develops new carpets that are highly stain resistant and durable, it must educate consumers about the product's benefits. This activity calls for which one of the following marketing mix variables?► Price► Promotion► Distribution► ProductQuestion No: 3 ( Marks: 1 ) - Please choose oneCustomer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to which of the following options?► Customer perceived value► Marketing myopia► Customer relationship management► Customer satisfaction




Question No: 4 ( Marks: 1 ) - Please choose oneWhich one of the following statements by a company chairman BEST reflects the marketing concept?► We have organized our business to satisfy the customer needs► We believe that marketing department must organize to sell what we produce► We try to produce only high quality, technically efficient products► We try to encourage company growth in the marketQuestion No: 5 ( Marks: 1 ) - Please choose oneWhich one of the following concepts is a useful philosophy in a situation when the product’s cost is too high and marketers look for ways to bring it down?► Selling concept► Product concept► Production concept► Marketing conceptQuestion No: 6 ( Marks: 1 ) - Please choose one

Which one of the following is a key to build lasting relationships with consumers?► Price of the product► Need recognition► Customer satisfaction► Quality of product

Question No: 7 ( Marks: 1 ) - Please choose oneWhich one of the following options enables consumers and companies to access and share huge amounts of information with just a few mouse clicks?► Digital age► Internet► Extranet► WWWQuestion No: 8 ( Marks: 1 ) - Please choose one




Which one of the following options is best to explain the purpose of intranets?► Buying and selling processes► Business-to-business purchasing► Communication among employees► Maintaining customer relationsQuestion No: 9 ( Marks: 1 ) - Please choose oneWhich of the following sets refers to the order or sequence of marketing management functions?► Control – implementation – market planning► Market planning – control – implementation► Implementation – control – market planning► Marketing planning – implementation - controlQuestion No: 10 ( Marks: 1 ) - Please choose oneAdvertising agencies are an example of which of the following marketing intermediaries?► Insurance company► Financial intermediary► Marketing services agency► Physical distribution firmQuestion No: 11 ( Marks: 1 ) - Please choose oneMarketing information from which of the following databases can be accessed more quickly and cheaply?► External► Internal & External► Internal► RepresentativesQuestion No: 12 ( Marks: 1 ) - Please choose oneThe objective of which of the following research is to gather preliminary information that will help define the problem and suggest hypotheses?► Descriptive► Exploratory► Causal




► CorrectiveQuestion No: 13 ( Marks: 1 ) - Please choose oneWhich method of research can be used to obtain information if people are unwilling or unable to provide?

► Observations► Focus groups► Personal interviews► Questionnaires

Question No: 14 ( Marks: 1 ) - Please choose oneA person on the University Book Shop's survey asks respondents to tell the shop, in their own words, what they like least about textbook shopping. What is a type of this question?► An open-ended► A dichotomous► A multiple choice► A scaleQuestion No: 15 ( Marks: 1 ) - Please choose oneABC Research Group must guard against problems during the implementation phase of marketing research for its clients. Typically, management will not encounter which of these problems?

► Respondents who refuse to cooperate or give biased answers► Interviewers who make mistakes or take shortcuts► Interpreting and reporting the findings► Primary data that conflict with secondary data

Question No: 16 ( Marks: 1 ) - Please choose oneSociety’s relatively permanent and ordered divisions whose members share similar values, interests and behaviors reflect which one of the following option?► Social classes► Habitual buyers► Charismatic leaders► Opinion leaders




Question No: 17 ( Marks: 1 ) - Please choose oneIn a reference group, people having special skills, knowledge, personality, or other characteristics, exert influence on others. Which one of the following option refers to these people?► Opinion leaders► Habitual buyers► Charismatic personalities► Wild ducksQuestion No: 18 ( Marks: 1 ) - Please choose oneA change in an individual's behavior prompted by information and experience refers to which one of the following concept?► Learning► Role selection► Perception► MotivationQuestion No: 19 ( Marks: 1 ) - Please choose oneThe factors such as the buyer’s age, life-cycle stage, occupation, economic situation, lifestyle, personality and self-concept that influences buyer’s decisions refers to which one of the following characteristic?► Personal characteristics► Psychological characteristics► Behavioral characteristics► Demographical characteristicsQuestion No: 20 ( Marks: 1 ) - Please choose oneIdentify the process by which individuals organize and interpret their sensory impressions in order to give meaning to their environment?► Personality► Perception► Selective group► Habitual behaviorQuestion No: 21 ( Marks: 1 ) - Please choose one




A transaction in which the organization is making an initial purchase of an item to be used to perform a new job refers to which of the following purchases?► Straight rebuy purchase► Delayed purchase► New-task purchase► Modified rebuy purchaseQuestion No: 22 ( Marks: 1 ) - Please choose oneIn its purchase of a small business computer, Mr. Ateeq asked that potential suppliers provide information only on units with 1Mb of memory. As management evaluates the purchase, it finds that 1Mb is inadequate for many of the software programs they use. In this instance, the firm would need to modify which aspect of the purchase process?► Searching► Specification development► Alternative evaluation► Performance evaluationQuestion No: 23 ( Marks: 1 ) - Please choose oneFollowing are the variables for the segmentation of international markets EXCEPT:► Geographic factors► Economic factors► Cultural factors► Psychological factorsQuestion No: 24 ( Marks: 1 ) - Please choose oneWith concentrated marketing, the marketer goes after a _____ share of _____.► Small; a small market► Small; a large market► Large; one or a few niches► Large; the mass marketQuestion No: 25 ( Marks: 1 ) - Please choose one




Beyond quality level, high quality also can mean high levels of quality consistency. Here, “Freedom from defects and consistency in delivering a targeted level of performance” refers to which of the following qualities?► Perceived quality► Product quality► Adherence quality► Conformance qualityQuestion No: 26 ( Marks: 1 ) - Please choose oneCustomer service is another element of product strategy. The first step is to survey customers periodically to assess the value of current services and to obtain ideas for new ones. From this careful monitoring, marketer has learned that buyers are very upset by repairs that are not done correctly the first time. What is the name of these types of services?► Brand equity services► Product support services► Social marketing services► Unsought product servicesQuestion No: 27 ( Marks: 1 ) - Please choose oneIn which of the following cases two established brand names of different companies are used on the same product?► Brand extension► Brand equity► Co-branding► CannibalizationQuestion No: 28 ( Marks: 1 ) - Please choose oneWith what groups do firms conduct concept testing for new products?► Suppliers► Employees► Target customers► Focus groupsQuestion No: 29 ( Marks: 1 ) - Please choose one




Once the product or service passes the business analysis test, it moves into which stage?► Concept development► Product development► Market testing► Product proposalQuestion No: 30 ( Marks: 1 ) - Please choose oneWhich one of the following groups of people get the product exposure but is not often perceived by the majority of potential buyers as typical consumers?► Early Majority► Late Majority► Early Adopter► InnovatorsQuestion No: 31 ( Marks: 1 ) - Please choose oneFirst National Bank launches an innovative in-home banking system tied to personal computers. The product is not widely accepted because bank customers don't see the need for such a service. Which one of the following is the best discretion of product failure?► Establishment of a customer information system► Organization structure► Technological advancement► Scanning corporate capabilitiesQuestion No: 32 ( Marks: 1 ) - Please choose oneIn Boston Consulting Group approach, which one of the following is a measure of company's strength in the market?► Relative market share► Market share► Business portfolio► Market growth rateQuestion No: 33 ( Marks: 1 ) - Please choose oneWhich one of the following is a chief goal of the implementation function in marketing process?




► Develops marketing plans► Turns plans into actions► Takes corrective actions► Develops strategic plansQuestion No: 34 ( Marks: 1 ) - Please choose oneFinance, research and development, purchasing and manufacturing all are the activities of which element of the micro environment?► Suppliers► Retailers► Companies► PublicsQuestion No: 35 ( Marks: 1 ) - Please choose oneBuying goods and services for further processing or for use in the production process refers to which of the following markets?► Consumer markets► Government markets► Business markets► International marketsQuestion No: 36 ( Marks: 1 ) - Please choose onePolitical force is one of the forces of marketing macro environment. Identify the view of marketer about the political forces.► Simple to recognize► Beyond their control► Easily ignored► Easily influencedQuestion No: 37 ( Marks: 1 ) - Please choose oneChimney Sweeps employs people to clean fireplaces and chimneys in homes and apartments. The firm is primarily the marketer of which one of the following?► An image► A service► A good► An idea




Question No: 38 ( Marks: 1 ) - Please choose oneWhat does it show “Increasing demand, as well as changing or even reducing demand”?► Marketing management► Marketing myopia► Demarketing► Relationship managementQuestion No: 39 ( Marks: 1 ) - Please choose oneEnvironmental groups are one kind of which of the following publics?► Citizen-action publics► Media publics► Government publics► Local publicsQuestion No: 40 ( Marks: 1 ) - Please choose oneWhich one of the following is NOT considered as competitive differentiation of a company?► Product► Service► Image► SalesQuestion No: 41 ( Marks: 10 )How would you classify customers according to their buying behavior based on the type of the product? Answer:The customers buying behavior is based on Demographical characteristics, Bargaining, Quality of product and after sale Service. Marketer always should concentrate on buyer’s needs and requirements and provided better quality of service and create good relationship with that kind of customers and plan for marketing accordingly to adhere with those kinds of customers.

MIDTERM EXAMINATION




Time: 60 min

Marks: 47

Question No: 1 ( Marks: 1 ) - Please choose one≈

When Olympia Carpets develops new carpets that are highly stain resistant and durable, it must educate consumers about the product's benefits. This activity calls for which one of the following marketing mix variables?

≈ Price

≈ Promotion

≈ Distribution

≈ Product


Building, keeping and growing profitable value-laden relationships with all customers of a company refers to which of the following options?

≈ Customer lifetime value

≈ Customer perceived value

≈ Customer relationship management

≈ Societal marketing





If a local company wants to adopt the marketing concept. To be consistent with this move, it should adopt which of the following philosophies?

≈ Focusing on today is important for us

≈ Making money is our business

≈ The customer is always right

≈ Keeping prices low is our objective



≈ Insurance company

≈ Financial intermediary

≈ Marketing services agency

≈ Physical distribution firm


Which type of management is responsible for setting the company’s mission, objectives, broad strategies and policies?




≈ Top management

≈ Middle level management

≈ Low level management

≈ Functional management


Which one of the following is NOT a part of the macro-environment?

≈ Demographic forces

≈ Natural forces

≈ Competitors' forces

≈ Political forces


The objective of which of the following research is to gather preliminary information that will help define the problem and suggest hypotheses?

≈ Descriptive

≈ Exploratory

≈ Causal




≈ Corrective


Which method of research can be used to obtain information if people are unwilling or unable to provide?

≈ Observations

≈ Focus groups


≈ Questionnaires


The mental act, condition or habit of placing trust or confidence in another shows which of the following options?

≈ Motive

≈ Belief

≈ Behavior

≈ Attitude



≈ Affluent




≈ Middle class

≈ Lower income class



Which of the following factors are often used for segmenting customer groups?

≈ Geographic factors

≈ Psychographic factors

≈ Behavioral factors

≈ Demographic factors


The purpose of idea generation is to create a _____ of ideas. The purpose of succeeding stages is to _____ that number.

≈ Small number; reduce

≈ Small number; increase

≈ Large number; increase

≈ Large number; reduce





Which one of the following forces is NOT the part of company’s macro environment?

≈ Demographic

≈ Economic

≈ Political

≈ Public


Mr. ABC has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage to select the good ideas and drop the poor ones. What is another name of idea reducing stage

≈ Idea generation

≈ Idea screening

≈ Product concept

≈ Concept development


The managers of a firm are providing all the facilities and

assistance that a customer demands. As a result of their efforts the

customers are satisfied and the firm is enjoying huge profits. The

efforts of the manager are considered as part of:




≈ Customer Relationship Management

≈ Total Quality Management

≈ Supply chain Management

≈ Customer Acknowledgement


A movie was greatly promoted as having a lot of actions and

special effects. When the people went to see the movie it was not

according to the expectations of the people. In this case the people

were:

≈ Satisfied

≈ Dissatisfied

≈ Overjoyed



A product fulfilled all the expectations that were advertised during

the launching of the product. Thus the customers using the product

should be:




≈ Satisfied

≈ Dissatisfied

≈ Disappointed



To persuade people to purchase non essential goods and services which of the following concepts would prove more fruitful?

≈ Production Concept

≈ Product Concept

≈ Selling Concept

≈ Marketing Concept


McDonald runs an advertisement featuring children, seniors, citizens and minority groups. What does this ad show?

≈ Company is product oriented

≈ Company considers only environmental factors

≈ Company has several target markets

≈ Company is market oriented





Which of the following entities of a company has a separate mission and objectives which can be planned independently from other company businesses.

≈ Business Portfolio

≈ Strategic Business Unit

≈ Product Line

≈ None of the given


The steps comprising the marketing control process in ascending order are:

≈ Measure performance – evaluate performance – corrective action – set goals

≈ Corrective action – set goals - measure performance – evaluate performance

≈ Set goals - Measure performance – evaluate performance - corrective action

≈ Set goals - Measure performance – corrective action – evaluate performance





Which of the following options indicate a company’s macro environment?

≈ Demographic, economic, natural, technological, political and social

≈ Demographic, natural, economic, political, social and cultural

≈ Demographic, economic, natural, technological, political and cultural

≈ Demographic, economic, natural, social, political and legal


Why is business legislation enacted?

≈ To protect consumers

≈ To protect companies from each other

≈ To protect the interest of the society



MIS activities begin and end with which of the following?

≈ Information Users

≈ Distributors




≈ Competitors

≈ Upper Management


To develop effective marketing programs, companies need information on which of the following?

≈ Consumers

≈ Competitors

≈ Resellers



Which of the following is the disadvantages of survey research?

≈ Survey research is not flexible

≈ The respondents can give inaccurate answers

≈ It is difficult to collecting primary data with survey research



A successful marketer keeps track of a person’s needs as he grows. When he is a child the marketer and his company may design toys for their customer. When he becomes an adult the




company may start producing ties and shirts. In this case the marketer is looking at which factor of the consumer behavior?

≈ Age and life cycle

≈ Occupation

≈ Economic situation

≈ Roles and status


A term that describes the tendency of people to interpret information in a way that will support what they already believe is called:

≈ Selective Attention

≈ Selective Retention

≈ Selective Distortion

≈ None of the given option





MR.Y goes to the convenience store every Saturday to buy groceries, such as salts, vegetables, fruits and rice. This behavior of Mr. Y is an example of:

≈ Complex Buying Behavior

≈ Variety Seeking Buying Behavior

≈ Dissonance Reducing Buying Behavior

≈ Habitual Buying Behavior


Manufacturers of surf excel are successful in making their product occupy a desirable place in the hearts of its customers. Now surf excel is considered as a powerful all purpose family detergent. The marketers have successfully ___________ its product.

≈ Differentiated

≈ Targated

≈ Positioned

≈ Segmented


“Consumers segments that have similar needs and buying behavior even though they are located in different countries” refers to which of the following segmentation?

≈ International marketing segmentation

≈ Consumer marketing segmentation




≈ Business marketing segmentation

≈ Intermarket segmentation


Shakeel just moved into a new city. He is a very successful man and would like to purchase a luxurious car and designer clothes. These products are examples of:

≈ Convenience Products

≈ Shopping Products

≈ Specialty Products

≈ Unsought Products


Identify the other market offerings marketers have broadened the concept of "product" to include.

≈ Organizations, persons and places

≈ Ideas, services and organization

≈ Places, organizations and times

≈ None of the given options


At the __________ stage in the product life cycle, educating the market remains a goal, but now the company also needs to meet the competition.




≈ Growth

≈ Maturity

≈ Decline



A well known company introduced a new product in the market; unfortunately the product was a complete failure. Highlight the reasons why new product sometimes fails to earn revenue.

Ans

There are several reasons. May be the idea was good, but the market size may have been overestimated .the actual product was not designed as well as it should have been. Maybe it was incorrectly positioned in the market, priced too high, or high price and poor advertisement. A high-level executive might push a favorite idea despite poor marketing research findings. Sometimes the costs of product development are higher than expected, and sometimes competitors fight back harder than expectation


How many stages are involved in adoption process?

stages as the decision by an individual to become a regular user of the product.Stages in the Adoption Processthere are five stages from which the consumer go through in




adoption process1 Awareness: when he becomes aware of new product, but have not enough information aboutit.2 Interest: The consumer want to have information about the new product.3 Evaluation: The consumer considers whether trying the new product makes sense.4 Trial: The consumer tries the new product on a small scale to estimate the value of product.5 Adoption: after above mentioned steps finally after going through them consumer decides to make full and regular use of the new product


Industrial products are those purchased for further processing or for use in conducting a business. These products have been categorized into three groups. What do you know about these groups of industrial products?

The three groups of industrial products and services include materials and parts, capital items, and supplies and services.Materials and parts include raw materials and manufactured materials andparts. Raw materials consist of farm products (cotton, livestock, fruits, vegetables) and natural products (fish, crude petroleum). Most manufactured materials and parts are sold directly to industrial users. Manufactured materials and partsconsist of component materials (iron, , cement, wires) and component parts (small motors, tires)Price and service are the major marketing factors; branding and advertising tend to be less important.Capital items are industrial products that aid in the buyer's




production or operations, including installations and accessory equipment. Installations consist of major purchases such as buildings (factories, offices) and fixed equipment (generators, drill presses,large)



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