Marketing MCQs

Marketing MCQs An economic buyer is a person who A. logically compares choices choices to get the greatest satisfaction satisfaction from spending time and money. B. makes buying decisions based only on price. C. will not pay extra for convenience. D. always buys products at the lowest price possible. E. is averse to spending time and money. A. logically compares choices choices to get the greatest satisfaction satisfaction from spending time and money. Which of the following is NOT an economic need? A. Dependability in use B. Connection to family C. Economy of use D. Convenience E. Efficiency in use B. Connection to family The text discusses a four-level hierarchy of needs. Which of the following is NOT included in that model? A. Social needs. B. Psychological needs. C. Safety needs. D. Physiological needs. E. Personal needs. B. Psychological needs. ______ needs are concerned with things that that involve a person's interaction with with others. A. Physiological B. Safety C. Biological D. Personal E. Social E. Social Psychological theories of motivation and needs suggest that: A. connecting with others is an example example of a personal need. B. a particular good or service might satisfy different levels of needs at the same time. C. all consumers satisfy needs in the same order. D. the desire for a better world is an example of a social need. E. All of the above are true statements. B. a particular good or service might satisfy different levels of needs at the same time. Which of the following is not a selective process used in gathering and interpreting interpreting information from the world around us? A. Selective exposure B. Selective perception C. Selective retention D. Selective attention D. Selective attention ______ refers to processes that screen screen out or modify ideas, messages, messages, and information that conflict with previously learned attitudes and beliefs. A. Selective exposure B. Selective learning C. Selective retention D. Selective attention E. Selective perception E. Selective perception

When Taco Bell shows a large close-up close-up of a chicken taco in a television ad, ad, it is: A. encouraging selective retention. B. hoping to encourage extensive problem solving by the audience. C. appealing to the social needs of the audience. D. appealing to the economic needs of the audience. E. using a cue to encourage a particular response to the hunger d rive. E. using a cue to encourage a particular response to the hunger d rive. _____ is a person's point of view towards a product, an advertisement, a salesperson, a firm, or an idea. A. An attitude B. A belief C. A preference D. An impression E. A cue A. An attitude Consumers' attitudes can be learned from: A. exposure to the attitudes of others. others. B. promotion which is directed toward them. C. previous experiences. D. All of the above could be true. E. None of the above. D. All of the above could be true. Psychographics is the analysis of a person's day-to-day pattern of living as expressed in that person's A. safety, social, and personal personal needs. B. actions, interests, and occupation. C. activities, interests, and opinions. D. culture, beliefs, and attitudes. E. psychological and physiological needs. C. activities, interests, and opinions. Which of the following is NOT a social influence in consumer buying? A. Social class B. Beliefs C. Family D. Reference groups E. Culture B. Beliefs According to the text, social class in the U.S. is usually measured in terms of: A. income. B. occupation, education, and housing arrangements. C. income, occupation, and education. D. race, religion, and occupation. E. income, occupation, and religion. B. occupation, education, and housing arrangements. Reference group A. influence is so strong that a person person normally has only one reference group. B. influence is greatest for older people. C. influence is equally strong for all products and brands. D. members may not even know the people who influence their values and attitudes. E. Both B and C are true. D. members may not even know the people who influence their values and attitudes. In the Jockey underwear ads using young people on the beach and the slogan, "Let 'em know you're Jockey", the company is hoping to use __________ groups to influence

When Taco Bell shows a large close-up close-up of a chicken taco in a television ad, ad, it is: A. encouraging selective retention. B. hoping to encourage extensive problem solving by the audience. C. appealing to the social needs of the audience. D. appealing to the economic needs of the audience. E. using a cue to encourage a particular response to the hunger d rive. E. using a cue to encourage a particular response to the hunger d rive. _____ is a person's point of view towards a product, an advertisement, a salesperson, a firm, or an idea. A. An attitude B. A belief C. A preference D. An impression E. A cue A. An attitude Consumers' attitudes can be learned from: A. exposure to the attitudes of others. others. B. promotion which is directed toward them. C. previous experiences. D. All of the above could be true. E. None of the above. D. All of the above could be true. Psychographics is the analysis of a person's day-to-day pattern of living as expressed in that person's A. safety, social, and personal personal needs. B. actions, interests, and occupation. C. activities, interests, and opinions. D. culture, beliefs, and attitudes. E. psychological and physiological needs. C. activities, interests, and opinions. Which of the following is NOT a social influence in consumer buying? A. Social class B. Beliefs C. Family D. Reference groups E. Culture B. Beliefs According to the text, social class in the U.S. is usually measured in terms of: A. income. B. occupation, education, and housing arrangements. C. income, occupation, and education. D. race, religion, and occupation. E. income, occupation, and religion. B. occupation, education, and housing arrangements. Reference group A. influence is so strong that a person person normally has only one reference group. B. influence is greatest for older people. C. influence is equally strong for all products and brands. D. members may not even know the people who influence their values and attitudes. E. Both B and C are true. D. members may not even know the people who influence their values and attitudes. In the Jockey underwear ads using young people on the beach and the slogan, "Let 'em know you're Jockey", the company is hoping to use __________ groups to influence

consumer behavior. A. cultural B. family C. opinion D. reference E. social D. reference A college student on her way to take an exam exam remembers that she doesn't have a pencil with an eraser--which the instructor asked everyone to bring. The store where she stops doesn't have regular pencils--but it does sell Scripto mechanical pencils priced at $2.95. That is what she buys. This case illustrates illustrates the effect of: A. personal environment. B. culture. C. purchase situation. D. learned set. E. dissonance. C. purchase situation. Which of the following is NOT one of the levels of consumer problem solving discussed discussed in the text? A. Dissonance problem solving B. Routinized response behavior C. Extensive problem solving D. Limited problem solving E. None of the above, i.e. all four are discussed. A. Dissonance problem solving Limited problem solving is used A. when consumers put much effort into deciding deciding how to satisfy a need. B. for purchases that have little importance or relevance for the customer. C. by consumers when some effort is required in deciding the best way to satisfy a need. D. when consumers regularly select a particular way of satisfying a need when it occurs. E. mostly for impulse purchases. C. by consumers when some effort is required in deciding the best way to satisfy a need. Routinized response behavior A. is most likely when past past purchases of similar products have have not satisfied the consumer's needs. B. is more likely when previous behavior has not yet been reinforced. C. is most common for purchases where the consumer has much experience in how to meet a need. D. increases the time required to make a purchase decision. E. is likely in a new purchase situation. C. is most common for purchases where the consumer has much experience in how to meet a need. Dissonance A. discourages a consumer from considering considering further information once a purchase has been made. B. is likely to result in a consumer buying the same product next time. C. is more likely to occur with low involvement products. D. is less likely to occur when a consumer has repeatedly purchased the same product. E. occurs in the adoption process after a consumer becomes interested in a product. D. is less likely to occur when a consumer has repeatedly purchased the same product. Which of the following is NOT an organizational buyer? A. The Red Cross buying office office supplies. B. A sporting goods retailer buying skis. C. A law office buying a background music service.

D. None of the above are organizational buyers. E. All of the above are organizational buyers. E. All of the above are organizational buyers. Bank of Omaha is an example of what type of organizational customer? A. Government B. Nonprofit C. Producer D. Intermediary E. None of the above. C. Producer Macy's is considered which type of organizational customer? A. Producer. B. Intermediary. C. Government. D. Nonprofit. B. Intermediary. In comparison to the buying of final consumers, the purchasing of organizational buyers: A. is strictly economic and not at all emotional. B. is always based on competitive bids from multiple suppliers. C. leans basically toward economy, quality, and dependability. D. is even less predictable. E. Both A and C are true statements. C. leans basically toward economy, quality, and dependability. Buying specialists for organizations are commonly called: A. supply agents. B. vendor agents. C. value analysts. D. purchasing managers. E. consumer buyers. D. purchasing managers. During the purchase of janitorial services for a new building, Teresa has responsibility for working with suppliers and arranging the terms of the sale. In this role, Teresa appears to be acting as A. a gatekeeper. B. a decider. C. a buyer. D. a user. E. an influencer. C. a buyer. During the purchase of new tooling at Acme Tool and Die, which of the following is an example of a gatekeeper? A. Sara, a purchasing manager, arranges the terms of the sale. B. Ross, from R&D, supplies information for evaluating alternatives. C. Charlotte, in manufacturing, has the power to select or approve suppliers. D. Andre, a research assistant, gathers and distributes information about alternatives. E. Rita, from the manufacturing floor, will use the new tooling. D. Andre, a research assistant, gathers and distributes information about alternatives. Natalie Simopoulos, director of procurement at Grecian Glass Company must approve every purchase order, and Anthony Markatos, purchasing manager, must authorize any sales rep who wants to talk to a Grecian Glass employee. Natalie and Anthony are acting as _____ and _____, respectively. A. decider and gatekeeper B. influencer and user

C. gatekeeper and influencer D. buyer and decider E. user and gatekeeper A. decider and gatekeeper When a company creates a rating form for its suppliers and rates their on-time delivery, product quality, service advice, and so forth, in order to determine which suppliers to put on an approved list of suppliers for specific products, this process is called a(n): A. JIT rating. B. resident buyer analysis. C. vendor analysis. D. ISO 9000 certification. E. buying center analysis. C. vendor analysis. Which of the following is NOT one of the organizational buying processes discussed in the text? A. Multiple task buying. B. Modified rebuy buying. C. New-task buying. D. Straight rebuy buying. E. None of the above, i.e., all are buying processes. A. Multiple task buying. New-task buying A. is a routine repurchase that may have been made many times before. B. occurs when an organization has a new need and the customer wants a great deal of information. C. is an in-between process where some review of the buying situation is done. D. occurs when an organization has a routine need and the customer wants only minimal information. E. involves no review of suppliers. B. occurs when an organization has a new need and the customer wants a great d eal of information. When a company is trying to decide which type of smart phone to purchase for its sales staff and has never had to make that specific type of purchase be fore, this buying situation is called a(n): A. Straight rebuy. B. New-task buy. C. JIT buy. D. Modified rebuy. E. ISO 9000 buy. B. New-task buy. A purchase having some multiple influence and requiring some information would fit the description of a A. new-task buy. B. modified buy. C. straight rebuy. D. modified rebuy. E. simplified buying. D. modified rebuy. The Foreign Corrupt Practices Act: A. prohibits U.S. firms from paying bribes to foreign officials. B. levies stiff penalties against people who pay bribes. C. applies to foreign firms or individuals who accept payments while in the U.S. D. was amended to allow small grease money payments if they are customary in that country. E. All of the above.

E. All of the above. Marketing research: A. provides new information for use in decision-making. B. must be a joint effort between the researcher and the manager. C. may be handled by outside specialists or by people within the firm. D. All of the above are true. E. None of the above is true. D. All of the above are true. A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing d ecisions. A. marketing information system B. marketing model C. marketing research project D. marketing research department E. marketing logistics system A. marketing information system A complete marketing information system should: A. provide a good overall view on many types of problems. B. allows marketing managers to get needed information while they are actually making decisions. C. provide answers to specific questions. D. continually gather data from internal and external sources, and from market research studies. E. All of the above are true. E. All of the above are true. Regarding "marketing research" and "marketing information systems": A. marketing information systems gather, access, and analyze data from intracompany sources, while marketing research handles all external sources. B. both tend to focus on nonrecurring information needs. C. marketing information systems tend to increase the quantity of information available for decision making, but with some decrease in quality. D. most firms have gone "too far" trying to apply modern decision-making techniques. E. None of the above is true. E. None of the above is true. Which of the following statements BEST reflects the point of view of the text with respect to marketing research? A. "We don't use computers, surveys and the like because marketing's information needs are usually not that precise anyway." B. "When we work with outside marketing research specialists, we expect them to take the time to really understand the problem we are trying to solve." C. "As marketing manager, I feel that the marketing researchers should be left alone to do their research--since they often come up with interesting suggestions." D. "As marketing research director, I should know the marketing manager's position in advance, so we can prove it is correct if possible." E. "Our company is very small, but we should have our own marketing research department anyway--to get the information we need to make good decisions." B. "When we work with outside marketing research specialists, we expect them to take the time to really understand the problem we are trying to solve." The scientific method is important in marketing research because it: A. forces the researcher to follow certain procedures, thereby reducing the need to rely on intuition. B. develops hypotheses and then tests them. C. specifies a marketing strategy which is almost bound to succeed. D. Both A and B are correct. E. All of the above are correct.

D. Both A and B are correct. Educated guesses about the relationships between things or about what will happen in the future are: A. theories. B. laws. C. "facts." D. hypotheses. E. None of the above. D. hypotheses. Which of the following is NOT part of the five-step marketing research process discussed in the text? A. Writing the proposal B. Analyzing the situation C. Solving the problem D. Interpreting the data E. Defining the problem A. Writing the proposal Often the most difficult step in the marketing research process is: A. analyzing the situation. B. defining the problem. C. getting problem-specific data. D. interpreting the data. E. All of the above. B. defining the problem. When a marketing manager scans a firm's MIS to try to obtain information about why the firm's product sales are down, this is an example of a(n): A. intranet. B. hypothesis testing. C. experiment. D. data warehouse. E. situation analysis. E. situation analysis. Which of the following statements concerning secondary data is correct? A. Secondary data usually takes longer to obtain than primary data. B. Secondary data is only available within the firm. C. Secondary data was originally collected for some other purpose. D. All of the above are correct. E. None of the above are correct. C. Secondary data was originally collected for some other purpose. Which of the following statements about secondary data is correct? A. Secondary data is obtained only from sources outside of the firm. B. Secondary data may be available much faster than primary data. C. Results of "old" surveys are not secondary data. D. Secondary data is usually more expensive to obtain than primary data. E. All of the above are true. B. Secondary data may be available much faster than primary data. ____ is an example of a primary data source. A. Cost data B. A marketing information system C. Company files D. Observation E. Library D. Observation

The big advantage of qualitative research in marketing is: A. ease of interpretation. B. it provides a good ba sis for statistical analysis. C. the in-depth responses it provides. D. the analysis can be handled on a personal computer. E. None of the above. C. the in-depth responses it provides. A consumer products manufacturer wants consumer reaction to its existing products. Interaction is considered important to stimulate thinking. The firm should use: A. the observation method. B. focus group interviews. C. the GSR (galvanic skin response) method. D. quantitative interviews. E. telephone interviews. B. focus group interviews. Which of the following is a disadvantage of quantitative research (compared to qualitative research)? A. It is harder to get in-depth answers. B. The conclusions are likely to vary more from analyst to analyst. C. The results are harder to summarize. D. It is not as fast for respondents. E. None of the above is true. A. It is harder to get in-depth answers. According to the text, "product": A. means a physical good. B. includes all the elements of a marketing mix. C. means the need-satisfying offering of a firm. D. refers to goods but not services. E. All of the above. C. means the need-satisfying offering of a firm. From a marketing perspective, a high quality copy machine is one that: A. does a good job satisfying a customer's requirements or needs. B. offers the most features. C. is produced with the best materials. D. has the longest warranty. E. is designed and manufactured to last the longest. A. does a good job satisfying a customer's requirements or needs. Saxon Shoes is a large independent shoe store. In the men's department, the store offers three different brands of slip-on tassel loafers for men: Bass, priced at $75; Rockport, priced at $125; and Allen Edmonds, priced at $250. In terms of product quality, which of the following is an accurate statement? A. The Bass shoes have the lowest quality. B. The Allen-Edmonds shoes have the highest quality. C. The Rockport shoes have mid-level quality. D. The quality of the three brands depends on the degree to which they meet the needs of the consumers in the target market. E. All of the above. D. The quality of the three brands depends on the degree to which they meet the needs of the consumers in the target market. A "product" might include: A. a brand name, a package, and a warranty. B. instructions. C. a service which does not include a physical good at all.

D. some physical item and its related features. E. All of the above. E. All of the above. Services, as opposed to physical products: A. May be stored for later use. B. Are usually sold first, and then produced. C. Are usually produced and consumed in different time frames. D. Never require the presence of the consumer in order to be performed. E. None of the above. B. Are usually sold first, and then produced. A large U.S. firm produces potato chips, shortening, dishwasher detergent, laundry detergent, shampoo, disposable diapers, and facial tissues. These are the firm's A. product classes. B. product assortment. C. individual products. D. marketing mix. E. product line. B. product assortment. Which of the following could be an example of a firm's product line? A. Coffees. B. Disposable diapers. C. Snow skis. D. Ski boots. E. All of the above. E. All of the above. Branding is good for some CONSUMERS because it: A. makes shopping easier. B. provides dependable guides to product quality. C. helps assure regular satisfaction. D. All of the above. E. None of the above. D. All of the above. Branding can help BRANDERS because it: A. may lower promotion costs. B. can improve the company's image. C. encourages repeat buying. D. may develop customer loyalty. E. All of the above. E. All of the above. Branding: A. is especially helpful with a low quality product. B. is handled by manufacturers, but not intermediaries. C. helps consumers, but it is bad for the firm because it increases expenses. D. is more likely to be successful if demand for the general product class is strong enough to allow a profitable price. E. None of the above is true. D. is more likely to be successful if demand for the general product class is strong enough to allow a profitable price. Which of the following conditions would not be favorable to branding? A. Dependable and widespread availability is possible B. Economies of scale in production C. Fluctuations in product quality due to inevitable variations in raw materials

D. Product easy to identify by brand or trademark E. Demand is strong so the price can be high enough to be profitable C. Fluctuations in product quality due to inevitable variations in raw materials Which of the following is NOT a level of brand familiarity? A. Brand nonexistence. B. Brand rejection. C. Brand nonrecognition. D. Brand preference. E. Brand insistence. A. Brand nonexistence. Ross Wrigley refuses to buy Billy Goat brand of beer, his attitude toward this brand is called _____. A. brand rejection B. brand familiarity C. brand nonrecognition D. brand recognition E. brand positioning A. brand rejection If members of the target market for an Apple iPad do not initially recognize the brand name, but compelling advertising results in more members remembering the brand, we say the Apple iPad has achieved: A. brand rejection. B. brand preference. C. brand nonrecognition. D. brand insistence. E. brand recognition. E. brand recognition. Characteristics of a good brand name include all of the following except: A. Be easy to spell and pronounce. B. Be trendy and fashionable. C. Describe the product and key benefits. D. Be legally available for use by the firm. E. Match the brand's packaging. B. Be trendy and fashionable. A trademark or brand name can become public property if: A. the owner doesn't renew the registration each year. B. it becomes a common descriptive word for the product. C. the owner doesn't register it under the Lanham Act. D. it is sold in international markets. E. All of the above. B. it becomes a common descriptive word for the product. Boatwright College gives manufacturers of clothing and gift items permission to place the college's name and emblem on a wide variety of merchandise. In return, Boatwright is paid a fee for granting this permission. In this case, the Boatwright name and logo is a: A. Manufacturer brand. B. Individual brand. C. Dealer brand. D. Licensed brand. E. Private brand. D. Licensed brand. Packaging A. can serve as a useful enhancement tool. B. can increase costs to the consumer.

C. can serve as a useful promotional tool. D. is concerned with protecting the product in shipping and on the shelf. E. All of the above are true. E. All of the above are true. E. All of the above are true. B. A package should satisfy not only the needs of final consumers but also those of intermediaries. Consumer product classes are b ased on ______________, while business product classes are based on ______________. A. how the product is to be used, the price for the product B. how consumers shop for the product, how the product is to be used C. the price of the product, the quality of the product D. how the product is produced, how the product is sold E. how the product is sold, how the product is produced B. how consumers shop for the product, how the product is to be used Which of the following is NOT one of the consumer product classes discussed in the text? A. Unsought products B. Imitation products C. Shopping products D. Convenience products E. Specialty products B. Imitation products Convenience products are products A. a consumer needs but is not willing to spend much time or effort shopping for. B. which consumers are aware of but not interested in. C. meant for use in producing other products. D. toward which consumer attitudes may be negative. E. that consumers want because they are easy to use or consume. A. a consumer needs but is not willing to spend much time or effort shopping for. If a consumer product is used regularly and usually bought frequently and routinely with little thought (although branding may be important), this produ ct is: A. a routine product. B. a specialty product. C. a homogeneous shopping product. D. a staple product. E. a casual product. D. a staple product. Compared to other consumer products, the major distinguishing characteristic of emergency products is the customer's: A. desire to negotiate for a "deal." B. urgency to get the need satisfied. C. willingness to shop around for a lower price. D. interest in the brand name. E. willingness to shop and compare. B. urgency to get the need satisfied. Regarding consumer product classes, a convenience product is to an emergency product as A. a staple is to an emergency product B. a shopping product is to a heterogeneous shopping product C. an unsought product is to a specialty product D. a new unsought product is to a regularly unsought product E. a specialty product is to a homogeneous shopping product B. a shopping product is to a heterogeneous shopping product

Consumer products which customers see as basically the same and want to buy at the lowest price are called: A. heterogeneous shopping products. B. homogeneous shopping products. C. comparison products. D. unsought products. E. convenience products. B. homogeneous shopping products. Lisa Campos was interested in buying a coffee pot to use at college and a cassette player for her sister's birthday present. At the local discount store, she compared prices on coffee pots and chose the cheapest. She read the product information on each cassette player and finally chose one with stereo headphones and a rechargeable battery. For Lisa, the coffee pot was A. a convenience product, but the cassette player was a specialty product. B. a heterogeneous shopping product, but the cassette player was a staple. C. an impulse product, but the cassette player was a convenience product. D. a specialty product, but the cassette player was a heterogeneous shopping product. E. a homogeneous shopping product, but the cassette player was a heterogeneous shopping product. E. a homogeneous shopping product, but the cassette player was a heterogeneous shopping product. Specialty products are consumer products which: A. have elastic demand. B. very few customers want or can afford to buy. C. are relatively expensive and purchased only rarely. D. consumers are willing to search for because they really want them. E. All of the above. D. consumers are willing to search for because they really want them. Which of the following is an "unsought product"? A. Gravestones aimed at "senior citizens." B. A new type of "health food" produced by a new, small company. C. Life insurance aimed at college students. D. Encyclopedias aimed at new parents. E. All of the above. E. All of the above. The product life cycle has four stages. Which of the following is not one of these? A. Market introduction B. Market growth C. Market maturity D. Economic competition E. Sales decline D. Economic competition As a product moves through its product life cycle: A. a firm should change its target market--but not its marketing mix. B. the competitive situation moves toward monopoly. C. industry profits keep increasing along with industry sales. D. customers' needs and attitudes may change. E. All of the above are true. D. customers' needs and attitudes may change. During the market introduction stage of the product life cycle: A. considerable money is spent on promotion while place development is left until later stages. B. products usually show large profits if marketers have successfully carved out new markets. C. most potential customers are quite anxious to try out the new-product concept.

D. funds are being invested in marketing with the expectation of future profits. E. product and promotion are more important than place and price. D. funds are being invested in marketing with the expectation of future profits. Total industry profits reach their maximum during the __________ stage of the product life cycle. A. market maturity B. sales decline C. market development D. market introduction E. market growth E. market growth Health Care Products Company has noticed that in one of its product-markets industry sales have leveled off and competition has been getting tougher. This product-market appears to be in the ____ stage of the product life cycle. A. market maturity B. market introduction C. market growth D. sales decline E. market decline A. market maturity Midway, Inc. has seen most of its competitors drop out of its product-market due to declining industry sales and profits. But Midway still has much demand for its pr oduct from a small group of loyal customers. This product-market is in which product life cycle stage? A. Market introduction B. Market maturity C. Market development D. Market growth E. Sales decline E. Sales decline Which of the following observations concerning the product life cycle is NOT TRUE? A. Product life cycles describe industry sales and profits for a product idea within a particular product-market. B. The sales and profits of an individual brand follow the life-cycle pattern. C. A product idea may be in a different life-cycle stage in different markets. D. Product life cycles should be related to specific markets. E. A given firm may introduce or drop a specific product during any stage of the product life cycle. B. The sales and profits of an individual brand follow the life-cycle pattern. In the market introduction stage of a fast product life cycle, _____ helps develop loyal customers early and keeps competitors out. A. a low initial penetration price B. intensive distribution C. promotion that builds selective demand D. promotion that reminds E. a market skimming price A. a low initial penetration price Which of the following is LESS LIKELY to happen as a product moves through the later stages of the product life cycle? A. Place - move toward selective distribution. B. Promotion - build selective demand. C. Price - meet competition. D. Competitive situation - Heading toward pure competition. E. Product - Some drop out. A. Place - move toward selective distribution.

According to your text, which of the following is an example of a "new product"? A. An existing product that has been modified in some way. B. An existing product for which new uses have been found in other product -markets. C. An existing product being offered to new markets. D. All of the above. E. None of the above. D. All of the above. According to the FTC, for a producer to call a product "new," the product: A. must be no more than two months old. B. must have achieved brand insistence. C. must be entirely new or changed in a functionally significant or substantial respect. D. must have been changed in some way during the last year. E. None of the above is a correct answer. C. must be entirely new or changed in a functionally significant or substantial respect. Which of the following is NOT a separate stage of the new-product development process? A. Idea generation. B. Screening. C. Idea evaluation. D. Marketing Research. E. Commercialization. D. Marketing Research. Which of the following is an effective source of ideas at the idea generation stage of the newproduct development process? A. Customer complaints. B. Lead-users of the product. C. Competitors' products. D. Products found in overseas markets. E. All of the above. E. All of the above. The Consumer Product Safety Commission can: A. order costly repairs of "unsafe products." B. back up its orders with fines or jail sentences. C. set safety standards for products. D. All of the above. E. Both A and C--but NOT B. D. All of the above. It is difficult to maintain consistent quality in services because A. services are nonperishable. B. as opposed to products, services are tangible in nature. C. the server is inseparable from the service. D. variability is reduced as more humans are involved in delivery. E. it requires minimum human interaction. C. the server is inseparable from the service. _____ means giving employees the authority to correct a problem without first checking with management. A. Responsibility adjustment B. Empowerment C. Training D. Induction E. Benchmarking B. Empowerment

Regarding product life cycles, which is TRUE? A. Industry sales and profits tend to reach their maximum during the market maturity stage. B. Product life cycles describe industry sales and profits within some product-market. C. Product life cycles are generally getting shorter and cannot be extended. D. Every new brand must pass through all four stages of the product life cycle. E. All of the above are true. B. Product life cycles describe industry sales and profits within some product-market. According to the text, product life cycles are: A. getting longer. B. speeding up in the later stages. C. now about the same length as 100 years ago. D. getting shorter. E. slowing down in the early stages. D. getting shorter. As a product moves into the market maturity stage of its life cycle, the marketing manager should: A. try to build primary demand. B. move toward exclusive distribution. C. expect the market to move toward pure competition. D. All of the above are true. E. None of the above is true. C. expect the market to move toward pure competition. Regarding product life cycles, good marketing managers know that: A. all new brands start off in the market introduction stage. B. product life cycles can be extended through product modifications. C. a product must pass through all the product life cycle stages. D. no strategy planning is needed during the sales decline stage. E. a firm should use penetration pricing during market introduction, especially if the cycle is expected to move slowly. B. product life cycles can be extended through product modifications. Kodak announced that it would no longer produce 35 millimeter film cameras, but would manufacture digital cameras exclusively. Sales of digital cameras have grown steadily and have far outpaced the sale of 35 mm cameras in recent years, even among professional photographers. Kodak's decision indicates that 35 mm cameras are probably in the ________ stage of the product life cycle. A. Market introduction B. Market growth C. Sales decline D. Market maturity C. Sales decline Top management of a large company recently approached the dean of a major business school about starting a specialized MBA program for the company's employees. After further discussions, the dean decided that the program did not fit well with the objectives and resources of the school, so the program was put on the "back burner" until conditions changed. The proposed MBA program was at what stage of the new-product development process when it was shelved? Idea generation A. Screening B. Idea evaluation C. Development D. Commercialization B. Idea evaluation Which of the following statements about new-product development are true? A. The process should be informal to encourage innovation. B. The greatest number of product ideas is in the idea evaluation stage.

C. The best criteria for evaluating new product ideas in the early stages is return on investment (ROI). D. The process should have top management support. All of the above statements are true. D. The process should have top management support. Target's "Cherokee" brand of men's clothing is available only at Target stores. The brand provides a low-cost alternative to other men's fashions available at department stores and via catalogs. The Cherokee brand is a(n): A. manufacturer brand. B. dealer brand. C. licensed brand. D. national brand. E. generic brand. B. dealer brand. Heinz has a new ketchup bottle that has the cap on the bottom, instead of the top. The bottle uses gravity to help the consumer get every last drop of ketchup out of the bottle. The cap is also designed to pour cleanly, so that dried ketchup does not accumulate around the opening. This new bottle demonstrates how packaging can: A. promote product. B. protect the product. C. lower distribution costs. D. incorporate UPC codes. E. enhance product usage. E. enhance product usage. McDonald's announced that at select locations, if drive-through customers do not get exactly what they want within two minutes of placing the order, their next meal will be free. This promise by McDonald's is a good example of a(n): A. service guarantee. B. warranty. C. unit price. D. limited warranty. E. no-fault insurance policy. A. service guarantee. Jack White wanted to purchase a new dress shirt. He went to a local department store, toured the men's department, and thought all the brands looked about the same. He decided to buy the store brand shirt, because it was the cheapest. For Jack, the new shirt was a(n): A. convenience product. B. heterogeneous shopping product. C. specialty product. D. homogeneous shopping product. E. impulse product. D. homogeneous shopping product. Edna Bates, a marketing researcher who is an expert in customer satisfaction research, is asked by a client to conduct a study dealing with a completely uNfamiliar research topic. Edna consults secondary data to gain more insight about this unfamiliar area. Edna is engaged in the _________ stage of the marketing research process. A. problem definition B. situation analysis C. gathering problem-specific data D. data interpretation E. solving the problem B. situation analysis A researcher wants to study 1,000 consumers and needs information about a lot of personal and sensitive issues. Which of the following would be

the best way to gather this information? A. Mail survey B. Focus group C. Telephone survey D. Face-to-face interview E. Experiment A. Mail survey A sales training firm wants feedback on the quality of its classes and training services. The firm planned to send mail surveys to CEOs of its client companies to get the needed information. However, one executive objected to the survey plan, saying, "CEOs don't attend our classes. How will they know if the classes are any good?" Another executive added, "If the survey isn't relevant to the CEOs, it will be thrown away and we'll get no data." It appears that the research design presents problems with: A. response rate. B. relevance of population. C. validity. D. improper statistical analysis. E. both A and B. E. both A and B. A marketing research firm conducted a telephone survey for a consumer products company. It provided new and interesting information about brand image, the competition, and other topics. At the end of the research company's results presentation, the sales manager commented, "This is all interesting information, but it doesn't tell me why our market share is declining among 18 to 34 year old women, nor does it offer me any suggestions about actions I can take to deal with the situation." The sales manager's complaint suggests that the research suffers from problems with: A. a lack of action implications for management. B. poor planning by the researcher and managers C. at the outset of the project. D. poor sampling. E. a low response rate. both A and B. E. a low response rate. Consuela Velasquez is a receptionist for a group of seven physicians. As she controls the calendars for the physicians, any sales representatives from pharmaceutical companies wanting to call on the physicians have to go through Consuela. As a result, it is very important for sales reps to cultivate a good relationship with her. In the buying center, Consuela would be best described as a: A. buyer. B. user. C. influencer. D. gatekeeper. E. decider. D. gatekeeper. Ahmed Jamison is a purchasing specialist for a large company. He has the authority to execute purchase orders or amounts up to $100,000. On a purchase order for a higher amount, Ahmed arranges the terms of sale, but the transaction has to be approved by the company president. In the buying center for a purchase in excess of 100,000, Ahmed is a _________ and the president is a _________: A. buyer; influencer. B. influencer; buyer. C. buyer; decider. D. gatekeeper; decider. E user; influencer. C. buyer; decider. Nikita Jackson, a sales representative for an industrial supply house, calls on a pr ospective business customer. The customer has an established relationship with another supplier, but

says that there have been some reliability problems with deliveries. Nikita seizes the opportunity to describe her co mpany's state-of-the-art logistics and transportation system that provides outstanding delivery reliability at low shipping costs. Nikita is encouraged because her customer seems to be in a ___________ situation. A. straight rebuy B. modified rebuy C. new-task D. extensive problem-solving E. limited problem-solving B. modified rebuy Auto parts wholesaler Fixem, Inc. decides to invest in a new data management system to increase the efficiency of its warehouse operations. Previously, all record-keeping was done via printed documents, but now all transactions will be electronic. This change will require Fixem to expend a significant amount of money for hardware, software, and training. However, in the long run, the cost savings should exceed the up-front investment. Fixem has arranged for presentations to be made by three different vendors. Fixem seems to be facing a ______________ buying situation. A. straight rebuy B. modified rebuy C. new-task D. extensive problem-solving E. limited problem-solving C. new-task Gotcha! is a chain of trendy stores catering to the urban contemporary market. As part of its close relationship with suppliers, Gotcha! has an Internet site that is accessible only by suppliers, and it provides up-to-the minute point-of-sale information from all of the Gotcha! stores. Suppliers can see how their products are doing at retail during any time of the day or night. In the relationship between Gotcha! and its suppliers, the Gotcha! supplier site is an example of: A. information sharing. B. legal bonds. C. reciprocity. D. operational linkages. E. negotiated contracts. A. information sharing. Ads for Haynes Jeep-Chrysler feature the slogan, "Come to Haynes, where the fun begins." This is an appeal to the consumer's: A. physiological need. B. safety need. C. personal need. D. social need. E. information need. C. personal need. Pat purchased a Ford Taurus, but traded it for another brand before it was out of warranty because it constantly needed repairs. Now, every time Pat sees an ad that mentions the quality of Ford's new vehicles all she can think about is the problems she had with her Taurus. This an example of: A. need-based thinking. B. selective retention. C. selective exposure. D. selective perception. E. psychographics. D. selective perception.

Anime, the cartoon-like Japanese art form, has generated significant interest among Generation Y consumers in the U.S. Anime conventions occur frequently and the largest ones draw more than 20,000 attendees. Anime fans, many in costume, come to these conventions to shop, participate in anime workshops, and to simply hang out with people with similar interests. Promotion of these conventions capitalizes mainly on: A. learning. B. psychological needs. C. selective processes. D. reference group influences. E. culture. D. reference group influences. Alice was a bit unsure about her decision after buying a new car. Her uneasiness was diminished after receiving a congratulatory note from the owner of the dealership. The note contained a coupon stating that her first scheduled maintenance on the vehicle would be free. These tactics are part of the dealer's strategy to reduce: A. dissonance. B. low involvement purchasing. C. routinized response behavior. D. social influences. E. information search. A. dissonance. Please allow access to your computer’s microphone to use Voice Recording. Having trouble? Click here for help.

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U



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



Which of the following is the first step in writing a marketing plan?



► Situation analysis



► Opportunity and threat analysis



► Executive summary



► Market analysis



2. Executive Summary



The Plan should open with a brief summary of the plans most important



Goals and Recommendations. The summary can be expressed like in a



brief statement, “increase sales by 10% this year” or “reduce expenses by



5 %” or say “will enter UK market this year” etc






A market leader firm can expand the total market through:



► Decreasing distribution of the pr oduct



► Introducing the new usage of the product



► Eliminating some features of product



► Increasing cost

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

Process engineering skills are required for the successful implementation of



which of the following strategy?



► Market segmentation strategy



► Market dominance strategy



► Differentiation strategy



► Cost leadership strategy



COST LEADERSHIP STRATEGY



Tthe strategy can easily be mimicked by competitors. Successful



implementation also benefits from:



• process engineering skills






Any tangible thing that can be offered to a market for attention, acquisition, use,



or consumption that might satisfy a want or need is called:



► Service



► Product



► Demand



► Idea






Luxury products, such as Rolex watches, are also known as:



► Shopping product



► Convenience product



► Emergency product



► Specialty product



Marketers of specialty products like Waterford crystal, Rolls-Royce cars,



and Rolex watches






Aggressive pricing is associated with which of the following stage of product life



cycle?



► Introduction



► Growth



► Maturity



► Decline



The introduction stage of theproduct life cycle occurs when a product is



first introduced to ..... and more aggressive pricing, profit usually peaks



during the growth stage.






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



EXCEPT:



► Government agencies



► Competitors



► Suppliers



► Customers



Sources for new product ideas include



internal sources, customers, competitor's products , distributors & suppliers,






Which of the following is NOT a decision required in commercialization?



► Why to launch the product?



► How to launch the product?



► Where to launch the product?



► When to launch the product?



The decisions required are:



• WHEN TO LAUNCH THE PRODUCT?



• WHERE TO LANCH THE PRODUCT?



• TO WHOM TO LAUNCH THE PRODUCT?



• HOW TO LAUNCH THE PRODUCT?






Which of the following are the people who purchase new products almost as



soon as the products reach the market?



► Innovators



► Late majority



► Early major ity



► Late adopters






Which of the following is the spread of idea from the source of invention to the



ultimate user or consumers?



► Innovation adoption process



► Innovation diffusion process



► Adoption process



► New product recognition



DIFFUSION PROCESS has been defined as



“The spread of idea from the source of invention or creation to the ultimate



user or consumers






Which of the following is essential requirement for medicines and drugs?



► Secondary packaging



► Primary labeling



► Decorative packaging



► Mandatory labeling



With regard to food and drugs, mandatory labeling has been a major



battleground between consumer advocates and corporations since the late



19th century.




 

Which of the following is less likely to damage reputations of a brand if a new product fails?



► Brand extension branding



► Individual branding



► Overall family branding



► Line family branding



Brand extension



The existing strong brand name can be used as a vehicle for new or



modified products;



M I D T ERM E X AM I N A TI ON M KT 501- M arketing M anagement F all 2009 2010 & 2011 All paper s solved in one mega file By Admin Bi ni sh Awais www.vuaskari.com

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

Which of the following brands cost more than other products in the category?



► Premium brand



► Economy brand



► Fighting brand



► Corporate brand



A Premium Brand typically costs more than other products in the categor






Using one brand name for several related products is known as which of the



following?



► Family branding



► Group branding



► Combination branding



► Premium branding



When one brand name is used for several related products, this is referred



to as Family branding.
















Gift baskets are the example of which one of the following types of packaging?



► Decorative



► Secondary



► Shipping



► Primary






Which of the following is the packaging objective, in which small products are



grouped together in one package for the reasons of efficiency?



► Information transmission



► Agglomeration



► Physical protection



► Theft reducing



•Agglom eration - Small objects are typically grouped together in one



package for reasons of efficiency. For example, a single box of 1000



pencils requires less physical handling than 1000 single pencils.



Alternatively, bulk commodities (such as salt) can be divided into packages



that are a more suitable size for individual households.






Which of the following is a brand created and owned by a larg retailer of a



product after purchasing in large quantity from manufacturer?



► Co-brand



► Private brand



► Manufacturer's brand



► Licensed brand



When large Retailers buy products in bulk from manufacturers and put



their own brand name on them, this



is called Private Branding, store brand, or private label.






Which of the following is also known as functional branding?



► Economy branding



► Co-branding



► Family branding









Tarang milk is an example of which of the following?



► Corporate brand



► Co-brand



► Individual brand



► Family brand



When a company's name is used as a product brand name, this is referred



to as Corporate brandin






Which of the following price is very close to the maximum that customers are



happily and readily willing to pay?



► Premium



► Cooperative



► Effective



► Efficient



An efficient price is a price that is very close to the maximum that



customers are prepared to pay.






Geographic pricing is also known as:



► Skimming pricing



► Zone pricing



► Psychological pricing



► Penetration pricing



A type of g eographical pricing called "zone pricing"






Which of the following is a pricing technique used by retailers?



► Cost– push pricing



► Cost-plus pricing



► Demand- push pricing



► Demand- pull pricing



The pricing technique used by most retailers is cost-plus pricin






Which of the following method is mostly used in the retailing?



► Courier service



► Online shops



► Self -service



► Counter -service



The second, and now more widely used method of retail, is self-service.






Market price is also known as:



► Effective price



► List price



► Retail price



► Wholesaler price



The market price (also called effective price) is the amount actually paid.






A company wants prompt payment from the customers. What type of discount



will be suitable for the company?



► Seasonal discount



► Trade discount



► Quantity discount



► Cash discount



1) Cash discounts for prompt payment - These are intended to speed



payment and thereby provide



liquidity to the firm. They are sometimes used as a promotional device.






A seller wants payment from buyer within 10 days of sales (whereas customer



can made payment within 30 days) and offers 4% discount if payment is made



within 10 days. What type of cash discount will be suitable?



► 4/10 net 30



► 10/4 net 30



► 10/30 net 4



► 4/30 net 10






Which of the following markets involve decisions such as: what country to enter



in, how to enter, h ow to adopt their product and services and how to price?



► Consumer markets



► Business markets



► Global markets



► Non profit markets



GLOBAL MARKETS



This is when we talk beyond frontiers; marketers are faced with tougher



decisions for global markets. Export of product is in itself a major



undertaking. Which country to enter? How to enter? How to Price? How to



communicate? are just a few important and underlying decisions. Legal



system, styles of negotiation; currency situation, political situation etc a



few others to be considered by the marketer.






Which one of the following 4Ps of marketing mix involves in decisions regarding



list prices, discounts, allowances and payment periods or credit terms?



► Product



► Price



► Place



► Promotion






The Cargo business covers which of the following decisions under the marketing



mix strategy?



► Product



► Price



► Placement



► Promotional






Customer cost will be considered as which of the following Ps of marketing mix?



► Product



► Price



► Place



► Promotion






Which of the following elements of marketing mix directly affects the value of



sales?



► Price



► Place



► Promotion



► Product






The basic human requirement defines which of the following?



► Need



► Demand



► Want



► Satisfaction



NEED



Needs can be described as human requirements. Need is there and its



natural. We need food to satisfy our hunger, water to quench out thirst. Of



course need can be more than just food, water and shelter. We need



recreation, education, entertainment and lots of other things to sustain our



livin






Willingness and ability to buy the product leads towards which of the following?



► Demand



► Need



► Want



► Market



DEMAND



Want becomes a demand when backed up by an individual‟s ability to pay



for it. A hungry person can want a burger, but does he have money to



demand a burger. Or is there a burger available to him?






The loyalty marketing focuses on establishing long term relationship between:



► Company and retailer



► Retailer and customer



► Retailer and consumer



► Company and customer



Relationship Marketing focuses on establish and



building long term relationship between the company and customer. We



also call it loyalty marketing.






Which of the following is NOT a technique used by marketers to understand the



customers?



► Focus group



► Commercialization



► Web and telephones



► Surveys






Which of the following is NOT an example of unsought goods?



► Insurance policy



► Course book



► Encyclopedia



► Funeral plots






A customer requirement about any product in which he/ she needs to avail core



features in that product, is called:



► Real need



► Stated need



► Unstated need



► Delighted need






Order processing decisions are related to which of the following?



► Product



► Price



► Distribution



► Promotion






Which of the following is NOT a distribution decision?



► Inventory management



► Personal selling



► Warehousing



► Distribution centers






If a bakery business bought a wheat farm in order to reduce the risk associated



with the dependency on flour. Identify the type of integration.



► Backward vertical integration



► Balanced vertical integration



► Forward horizontal integration



► Forward vertical integration



Question No: 41 ( Marks: 10 )



"Marketing concept starts with a well defined market, focuses on customer



needs, coordinates all activities and produces profit by satisfying the



customers". Elaborate the statement.






Results from the research that have already been conducted are displayed in which of the



following part of marketing plan?



► Marketing strategies






► Appendix



► Financial summary



Ref: Appendix contains specifications of the new product, results from research already completed. Lesson # 8, Under the heading of Appendix




 



A market nicher can reduce their operating expense through less spending on:



►



►



►



►






Which of the following goods are purchased without any planning or search effort?



www.vuaskari.com



►



►



►



►



ref.



Emergency Goods: goods required immediately






Which of the following is NOT undertaken by all the companies in the process of new



product development?



►



►



►



►






Which of the following is the degree to which new product matches the values and



experiences of the individuals in the c ommunity? www.vuaskari.com



►



►



►



►






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



the primary container?



www.vuaskari.com



►



►



►



►



Ref: Secondary packaging: Leak-proof packaging that provides additional



Market segment and advertising R & D and market segment Advertising and promotion R & D and advertising

Emergency Specialty Impulse Shopping

Market testing Commercialization Idea screening Idea generation

Innovation communicability

Innovation divisibility Innovation compatibility Innovation complexity

Primary packaging Secondary packaging Transport packaging Decorative packaging

protection for the primary receptacle(s); it may include absorbent material






Packaging used for the ice creams is an example of which of the following?



►



►



►



►




Decorative packaging Transport packaging Secondary packaging Primary packaging



The existing strong brand name can be as a vehicle to launch new product in the other



categories. What does this statement imply?



►



►



►



►






Which of the following is a name, term, sign, symbol, design, or a combination of these,



that identifies the product or service?



►



►



►



►






The concept of price is central to:



►



►



►



►



The concept of price is central to microeconomics where it is one of the most



important variables in resource allocation theory (also called price theory).






The basic human requirement defines which of the following?



►



►



►



►






The phenomenon, when a customer dislikes a product and talks against the product, is



termed as: www.vuaskari.com



►



►



►



►



Bad mouth is when a customer talks not in favours of the product.






Distributors are part of which of the following environment?



►



►



►



►



reference..



Task environment involves immediate actors, such as suppliers, distributors, dealers and



consumers etc, involved in production, distribution and promotion .






In which section of the marketing plan you would find the detailed information about the



marketing environment, market trends, customers and competitors?



►

Family branding Line extension Individual branding Brand extension

Label Co-brand Brand Product

Administration Management Macroeconomics Microeconomics

Need Demand Want Satisfaction

Propaganda Unfavorable environment Bad mouth Bad impression

Task environment Broad environment Natural environment Political environment

Situation analysis



►



►



►






Which one of the following strategies emphasizes on brand image?



►



►



►



►






Which of the following is NOT a type of innovation strategy? www.vuaskari.com



►



►



►



►



Innovation Strategies- This deals with the firm rate of new product development and



business model innovation. It asks whether the company is on the cutting edge of



technology and business innovation. There are three types:



 pioneers



 close



 late

 

Product/market background

Marketing strategies Market analysis

Cost leadership strategy Market dominance strategy Differentiation strategy Market segmentation strategy

Pioneers Challengers Close followers Late followers

followers

followers


ABC Company has been selling quality women garments at Rs.2000 to Rs.3000 which is



roughly one tenth of their usual selling price. This is an example of:



►



►



►



►






Distribution of posters regarding the mobile phone usage during driving by the people



against their usage illustrates:



►



►



►



►






Which of the following is the unique combination of benefits received by targeted buyers



that includes quality, price, convenience, on time delivery, and both before sale and after



sale service.



►



►



►



►

 

Skimming Loss leader Demand based pricing Cost based pricing

The government is not involved in marketing That the drivers constitute market segment How marketing concepts are applied by the non profit organization Awareness to the general public

The marketing concept Customer value The price-quality trade off Customer relationship management


According to the societal marketing concept, who is most involved in deciding what



needs and wants are good for consumers in the long run?



www.vuaskari.com



►

The organization itself



►



►



►



Ref: The societal marketing concept holds that the organization itself should



discover and satisfy the needs of its consumers while also providing for society's



well being in a pro-active way. Marketing researchers may suggest concerns



about society, but they do not make the final decision about what to do.






Which of the following statements about environmental factors is true?



►



►



environmental factors in any way.



►



►



regulatory forces.






While writing the marketing plan, the analysis of environmental factors like supply chain,



Government and legal etc, comes under which of the following section of marketing



plan?



►



►



►



►



ref.



Macro-environment: All situations regarding Economy, Government, Legal, Technology,



Ecological, Socio-cultural, Supply chain and some other macro factors must be carefully



studied. Relevant data from authentic sources regarding these factors must be collected



and analyzed.






Which of the following goods are purchased by customers after comparisons of



competing goods available in stores on the basis of price, quality, style and colors?



►



►



►



►

 

The individual consumers Competitive forces Marketing researchers

Environmental factors have no influence over an organization's opportunities. Recent studies have shown that an action-oriented firm still cannot affect

Environmental factors are also called controllable factors. Environmental factors include social, economic, technological, competitive, and

Macro environment Market analysis Consumer analysis Internal environment analysis

Specialty goods Shopping goods Impulse goods Convenience goods


___________type of growth refers to concentrating activities on markets and/or products



that are familiar:



►



►



►



►






The “convenience goods” in the industrial market are:



►



►



►



►




Diversification Condensive Integrative Intensive

Operating supplies Components parts Industrial computers Accessory equipment



Many business executives argue that a more accurate explanation of actual pricing



behavior is that within a given profit constraints, firms strive for:



►



►



►



►

Profit maximization Target return Sales maximization Market share









Which of the following discourages the entry of competitors as well as act as a barrier to



entry?



►



►



►



►






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



►



►



►



►



Which of the following must be developed at each product level for



achieving the goals?



► Corporate plan



► Selling plan



► Marketing plan



► Business plan



Marketing Planning Process



Each product level must develop a marketing plan for achieving its goals.



Which of the following part of a marketing plan defines the plan‟s financial



and marketing goals in terms of sales volume, market share and profit?



► Marketing strategy



► Action programs



► Issue analysis



► Objectives





4. Objectives Defines the plan’s financial and marketing goals in terms of sales volume, market share and profit.



http://www.steadysales.com/the-contents-of-a-marketing-plan



Assumptions, pro-forma income statement, contribution margin analysis,



breakeven analysis, ratios analysis must be very formally done in:













Cost-orientated pricing

Psychological pricing Penetration pricing Market skimming pricing

Trade discounts Quality discounts Cash discount Off price discounts









► Promotional plan



► Business plan



7. Financial Summary



Assumptions, pro-forma monthly income statement, contribution margin



analysis, breakeven analysis. This information must be very formally done



at this stag



Which of the following has the largest market share in the relevant product



market?



► Market leader



► Market challenger



► Market nicher



► Market follower





Market Leader The market leader is dominant in its industry. It has substantial market share and often extensive distribution arrangements with retailers. It typically is the industry leader in developing innovative new business models and new products (although not always). It sometimes has some market power in determining either price or output. Of the four dominance strategies, it has the most flexibility in crafting strategy.



http://groups.google.com/group/vu-askari?hl=en



A market nicher can reduce their operating expense through less spending



on:



► Market segment and advertising



► R & D and market segment



► Advertising and promotion



► R & D and advertising



http://webcache.googleusercontent.com/search?



q=cache:mKnoUWHUW08J:www.public-domaincontent.



com/encyclopedia/List_of_marketing_topics/Market_d

 

* They tend to keep their operating expenses down by spending less on R&D, advertising, and personal selling.






► Decreasing distribution of the product









► Increasing cost



Market leaders can expand the market by developing new users, new uses,



and more usage of its products



A brand name is one of the elements of the:



► Discounted product



► Core benefit



► Augmented product



► Actual product



http://www.xn--lba.net/articles/20262/Brand



The brand owner will seek to bridge the gap between the brand image

    

and the 

brand identity Effective brand names build a connection between the brand



personality as it is perceived by the target audience and the actual



product/service.



Which of the following is TRUE about a product?



► Every tangible thing the customer receives in an exchange



► The idea that the customer receives in an exchange



► The service that is rendered to a customer



► The physical object the customer receives in an exchange



Tyman-Space Online College



PRODUCT anything, tangible or intangible, received in an exchange to satisfy a



want or need. Products include



Identify the stage of product life cycle in w hich sales are at peak.



► Introduction



► Growth



► Maturity



► Decline



Product Life Cycle Stages | Life Cycle Management



The maturity stage of the product lifec ycle is characterized by sales growth



reaching peak levels



Which of the followings are considered defensive in nature?



► Maturity and growth stage



► Maturity and decline stage



► Introduction and maturity stage



► Introduction and growth stage

 

The second two stages, mature and decline stage, are often seen as defensive in nature.



Standard Cable cut back advertising expenditures to minimum level and



reduced the number of channel members for its industrial cable product.



These actions are indicative of a product in which of the following stage of



its life cycle?



► Introduction



► Growth



► Maturity



► Decline



) Decline Stage of the product life cycle characterized by declining sales



volumes and profits.






q=cache:xhjHBICXvekJ:mencyclopedia.narod.ru/p_text.html+Standard+Cable+cut+back



+advertising+expendi



Highest percentage of ideas for new products originates with/from which of



the following sources?



► Top management



► Customers



► Competitors



► Employees

 

Know thy market - RFID Training: RFID Education and Market .. .



Several studies of industrial markets have shown that the highest



percentage of new product ideas originate with customers.



Which of the following are the people who purchase new products almost



as soon as the products reach the market?



► Innovators



► Late majority



► Early majority



► Late adopters



Which of the following is NOT one of the stages that customers go through



in the process of adopting a new product?



► Desire



► Awareness



► Evaluation



► Interest



Which product is MOST likely to be purchased through routine decision



making?



► Television set



► Soft drink



► Shirt



► Car



Which of the following has a quick response towards a new product?



► Opinion leaders



► Late majority



► Early majority



► Early adopters



Which of the following brands is created specifically to counter a



competitive threat?



► Premium brand



► Economy brand



► Fighting brand



► Corporate brand



Using one brand name for several related products is known as which of



the following?



► Family branding



► Group branding















► Transport packaging






► Primary packaging



According to “ Research supporti ng odd pri cing theory ” which of the



following number out of all the numbers between 1 and 100 is thought to



have least perceived value as compared to its actual value?



► 90



► 77



► 55



► 25



To pay premium price for the product customers require:



► Allowance



► Flawless performance



► Discounts



► High promotion



Mr. A, marketer of XYZ Co. is selling his ice-cream in the market at Rs.20,



20% more than his competitors‟ price. Still his sales are increasing. Now



his aim is to maintain same pricing. He enjoys which type of leadership?



► Promotion leadership



► Price leadership



► Cost leadership



► Product leadership



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



written form?



► Wholesale price



► Market price



► List price



► Retail price



A seller wants payment from buyer within 10 days of sales (whereas



customer can made payment within 30 days) and offers 4% discount if



payment is made within 10 days. What type of cash discount will be



suitable?



► 4/10 net 30



► 10/4 net 30



► 10/30 net 4



► 4/30 net 10



Market-penetration pricing will likely to be used most in selling which of the



following items?



► Specialty



► Convenience



► Unsought



► Pharmaceuticals



Many companies try to set a price that will maximize current profit. This



strategy assumes that company has knowledge of its:



► Cost and production function



► Revenue and cost function



► Demand and market function



► Demand and cost function



Identify the other name for global market.



► Consumer market



► Import market



► Export market



► Government market



Which one of the following 4Ps of marketing mix involves in decisions



regarding list prices, discounts, allowances and payment periods or credit



terms?



► Product



► Price



► Place



► Promotion






Customer cost will be considered as which of the following Ps of marketing



mix?



► Product



► Price



► Place



► Promotion



Which of the following is about managing strategically the customer‟s



entire experience with the product and company?



► Customer experience management



► Customer retention management



► Customer life-time value management



► Customer relationship management



Customer‟s viewpoint on a firm‟s products and services can be improved



through:



► Experiential world of customers



► Experiential innovation



► Customer interface



► Building experiential platform



Which of the following firms emphasizes on product‟s benefits to the



customers rather product attributes?



► Product oriented



► Market oriented



► Sales oriented



► Production oriented



Which of the following is NOT a technique of measuring customer



satisfaction and monitoring customer‟s complaint?



► Customer complaints database



► Web and telephone information hotlines



► Exit interviews



► Business analysis



The phenomenon, when a customer dislikes a product and talks against



the product, is termed as:



► Propaganda



► Unfavorable environment



► Bad mouth



► Bad impression



Products that are usually purchased due to adversity and high promotional



back up rather than desire are called:



► Sought goods



► Unique goods



► Unsought goods



► Preferred goods



A customer requirement about any product in which he/ she needs to avail



core features in that product, is called:



► Real need



► Stated need



► Unstated need



► Delighted need



Which of the following products requires mass promotion by a producer?



► Convenience



► Shopping



► Specialty



► Unsought



Which of the following is NOT an aggressiveness strategy?



► Harvesting



► Building



► Intensification



► Holding



Which of the following is NOT a type of innovation strategy?



► Pioneers



► Challengers



► Close followers



► Late followers



Suppose Nestle wants to expand its line of food products. The managers



conduct surveys from customers to determine which food items would



appeal to customers. Nestle is currently in which of the following phase of



new product development?



► Idea generation



► Idea screening



► Test marketing






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



Critical path analysis is a part of which of the following?



► Implementation stage



► Marketing strategies









Commercialization



o launch the product



o produce and place advertisements and other promotions



o fill the distribution pipeline with product



o critical path analysis is useful at this stage






The strategy which involves creating a product that is perceived as unique and



should provide superior value for the customer is called:



► Market segmentation strategy



► Market dominance strategy






► Cost leadership strategy



DIFFERENTIATION STRATEGY



Differentiation involves creating a product that is perceived as unique. The



unique features or benefits should provide superior value for the customer



if this strategy is to be successful












► Core benefit






► Actual product






Luxury products, such as Rolex watches, are also known as:



► Shopping product






► Emergency product



► Specialty product






Which of the following goods are purchased without any planning or search



effort?



► Emergency



► Specialty



► Impulse



► Shopping



Emergency Goods: goods required immediately




 

Which of the following is frequently used in testing the acceptance of new product design?



► Concept development






► Concurrent engineering



► Conjoint analysis



. It is used frequently in testing customer acceptance of new product



designs and assessing the appeal of advertisements. It has been used in



product positioning, but there are some problems with this application of



the technique.






Identify the commercialization decision which includes decisions regarding



locality, region, nationally or even internationally launching the product.



► Why to launch the product?



► How to launch the product?



► Where to launch the product?



► When to launch the product?






Which product is MOST likely to be p urchased through routine decision making?



► Television set



► Soft drink



► Shirt



► Car




 

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












► Decorative




 

Which of the following is less likely to damage reputations of a brand if a new product fails?



► Brand extension branding






► Overall family branding



► Line family branding



Brand extension



The existing strong brand name can be used as a vehicle for new or



modified products;






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



threat?



► Premium brand



► Economy brand



► Fighting brand



► Corporate brand



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



threat.









► Decorative



► Secondary



► Shipping



► Primary






Which of the following is the packaging objective, in which small products are



grouped together in one package for the reasons of efficiency?



► Information transmission



► Agglomeration



► Physical protection



► Theft reducing



•Agglomeration - Small objects are typically grouped together in one



package for reasons of efficiency. For example, a single box of 1000



pencils requires less physical handling than 1000 single pencils.



Alternatively, bulk commodities (such as salt) can be divided into packages



that are a more suitable size for individual households.






The label on a pack of frozen peas says, 'packed within an hour of picking'.



These words are used:



► To promote the product



► To satisfy legal requirements



► To provide information



► To fulfill ethical requirement
























Which of the following is a name, term, sign, symbol, design, or a combination of



these, that identifies the product or service?



► Label



► Co-brand



► Brand



► Product






Which of the following is a group of products that are closely related because



they function in a similar manner?






► Private brand



► Line extension



► Product line



When a company uses the Brand equity associated with an existing brand



name to introduce a new product or product line, this is referred to as



Brand leveraging.






Which of the following is also known as dual branding?



► Private brand



► Multibrand



► Co-brand



► New brand



When two or more brands work together to market their products, this is



referred to as Co-branding






The concept of price is central to:



► Administration



► Management



► Macroeconomics



► Microeconomics



The concept of price is central to microeconomics where it is one of the



most important variables in resource allocation theory (also called price



theory)






Which of the following marketing mix element generates revenue?



► Promotion



► Price



► Place



► Product






ABC Company priced the product as of Rs. 19.99 instead of Rs.20. Which of the



following pricing techniques is ABC Company using?



► Dodging pricing



► Deceptive pricing



► Premium pricing



► Psychological pricing









► Allowance



► Flawless p erformance



► Discounts



► High promotionm,






Which of the following is NOT an objective of discounts?



► Reward valuable customers



► Reward competitors



► Move out-of-date stock



► Increase short-term sales






3/10 net 30 is an example of which of the following?






► Trade discount






► Cash discount



1) Cash discounts for prompt payment - These are intended to speed



payment and thereby provide liquidity to the firm. They are sometimes



used as a promotional device.






Market price is also known as:



► Effective price



► List price



► Retail price



► Wholesaler price



The Effective Price is the price the company receives after accounting for



discounts, promotions, and other incentives.






Which of the following best describes 3/10 net 40 ROG?



► the buyer must pay within 10 days of receipt of goods but will receive 3%



discount if paid in 10 days



► The buyer must pay within 3 days of receipt of goods but will receive 10%





















Which of the following is also known as accumulation discounts?



► Trade discount



► Non-cumulative quantity discount



► Cumulative quantity discount






•Cumulative quantity discounts (also called accumulation discounts).



These are price reductions based on the quantity purchased over a set



period of time. The expectation is that they will impose an implied



switching cost and thereby bond the purchaser to the seller.






A company is providing warehousing facility to its channel members. The



company is using which of the following?






► Trade discount






► Cash discount



4) Seasonal discounts - These are price reductions given when an order is



placed in a slack period (example: purchasing skis in April in the northern



hemisphere or in September in the southern hemisphere). On a shorter



time scale, a happy hour may fall in this category .






To attract customers into stores, the store advertises its milk at a price less than



cost, hoping that customers will purchase other groceries as well. Milk is acting



as which of the following?



► Premium item



► On- sale item



► Discounted item



► Loss leader






Many companies try to set a price that will maximize current profit. This strategy



assumes that company has knowledge of it’s:


















Which one of the following 4Ps of marketing mix involves in decisions regarding



list prices, discounts, allowances and payment periods or credit terms?



► Product



► Price



► Place



► Promotion






When need is directed towards a specific object it is called:



► Actual need



► Want



► Demand



► Satisfaction



WANT



Need becomes Want, when they are directed towards a specific object.



When hungry we need food; but we want say a burger. Want can vary from



place to place and from people to people. A man in USA can want a burger



to eat when hungry whereas a man in Pakistan needs a „Nan”. Want can be



different at different income levels and in various time






In which one of the following orientations companies often design the products



with little or no input from customers?



► Market-oriented



► Product-oriented



► Sales-oriented



► Production-oriented






A customer requirement about any product in which he/ she needs to avail core



features in that product, is called:



► Real need



► Stated need



► Unstated need



► Delighted need






Factors of broad environment affect:



► Economic environment



► Task environment



► Cultural environment



► Technological environment






Marketing starts with which of the following 4Ps?



► Product



► Price



► Place



► Promotion






A business wants to create the awareness about the features and befits of the



product in the market. Which of the following decisions are important to achieve



the goal?



► Price decisions



► Place decisions



► Promotion decisions



► Product decisions



Promotion Decisions



In the context of the marketing mix, promotion represents the various



aspects of marketing communication, that is, the communication of



information about the product w ith the goal of generating a positive



customer response. Marketing communication decisions include:



• Promotional strategy (push, pull, etc.)



• Advertising



• Personal selling & sales force



• Sales promotions



• Public relations & publicity



• Marketing communications budget






If a bakery business bought a wheat farm in order to reduce the risk associated



with the dependency on flour. Identify the type of integration.



► Backward vertical integration



► Balanced vertical integration



► Forward horizontal integration



► Forward vertical integration



In backward vertical integration, the company sets up subsidiaries that



produce some of the inputs used in the production of its products. For



example, an automobile company may own a tire company, a glass



company, and a metal company. Control of these three subsidiaries is



intended to create a stable supply of inputs and ensure a consistent quality



in their final product









► Convenience



► Shopping



► Specialty



► Unsought






Which of the following is NOT included in the financial summary of a marketing



plan?



► Pro-forma income statement



► Month-by-month agenda



► Breakeven analysis



► Assumptions



7. Financial Summary



Assumptions, pro-forma monthly income statement, contribution margin



analysis, breakeven analysis. This information must be very formally done



at this stage



Question No: 41 (Marks: 10)



What is conjoint analysis? Why it is often used by marketers while



introducing new product?



Answer:



Conjoint Analysis and Reason of Why Marketers Use This While Introducing New



Product:



It is a statistical technique hat is originated in mathematical psychology. It is used



in many of the social sciences and applied sciences like marketing, operations



research and product management.



The main objective of conjoint analysis in marketing is to determine what



combination of a limited number of attributes is mostly preferred by the public.



It is often used in testing customer acceptance of a new product designs and



assessing the appeal of advertisements used in p roduct positioning. There are



few steps for conducting conjoint analysis.



The basic steps are:



1. Select feature to be tested.



2. Show these features combination to the potential customers.



3. Input data from a representative sample of potential customers into the



statistical software and select the conjoint analysis procedure; the software



will produce the utility functions for each feature.



4. Incorporate the most preferred features into a n ew product and



advertisement.



It is very useful market analysis as we can determine the customer needs and



their interest their liking and disliking and will lead to success of the product to be



launched. That is why it is mostly used by the marketers while introducing a new



product.



Which of the following must be developed at each product level for



achieving the goals?



► Corporate plan



► Selling plan



► Marketing plan



► Business plan



Marketing Planning Process



Each product level must develop a marketing plan for achieving its goals.



Which of the following part of a marketing plan defines the plan‟s financial



and marketing goals in terms of sales volume, market share and profit?



► Marketing strategy



► Action programs



► Issue analysis



► Objectives



Defines the plan’s financial and marketing goals in terms of sales volume, market share and profit.





http://www.steadysales.com/the-contents-of-a-marketing-plan



Assumptions, pro-forma income statement, contribution margin analysis,



breakeven analysis, ratios analysis must be very formally done in:









► Promotional plan



► Business plan





7. Financial Summary Assumptions, pro-forma monthly income statement, contribution margin analysis, breakeven analysis. This information must be very formally done at this stag



Which of the following has the largest market share in the relevant product



market?



► Market leader






► Market nicher



► Market follower





Market Leader The market leader is dominant in its industry. It has substantial market share and often extensive distribution arrangements with retailers. It typically is the industry leader in developing innovative new business models and new products (although not always). It sometimes has some market power in determining either price or output. Of the four dominance strategies, it has the most flexibility in crafting strategy.






A market nicher can reduce their operating expense through less spending



on:



► Market segment and advertising



► R & D and market segment



► Advertising and promotion



► R & D and advertising





http://webcache.googleusercontent.com/search?q=cache:mKnoUWHUW08J:www.public-domaincontent. com/encyclopedia/List_of_marketing_topics/Market_d * They tend to keep their operating expenses down by spending less on R&D, advertising, and personal selling.






► Decreasing distribution of the product









► Increasing cost

 

Market leaders can expand the market by developing new users, new uses, and more usage of its products









► Core benefit






► Actual product



http://www.xn--lba.net/articles/20262/Brand



    

 

   

The brand owner will seek to bridge the gap between the brand image and the brand identity Effective brand names build a connection between the brand personality as it is perceived by the target audience and the actual product/service.



Which of the following is TRUE about a product?



► Every tangible thing the customer receives in an exchange



► The idea that the customer receives in an exchange



► The service that is rendered to a customer



► The physical object the customer receives in an exchange



PRODUCT anything, tangible or intangible, received in an exchange to



satisfy a want or need



Identify the stage of product life cycle in w hich sales are at peak.



► Introduction



► Growth



► Maturity



► Decline



Product Life Cycle Stages | Life Cycle Management



The maturity stage of the product lifec ycle is characterized by sales growth



reaching peak levels



Which of the followings are considered defensive in nature?



► Maturity and growth stage



► Maturity and decline stage



► Introduction and maturity stage



► Introduction and growth stage



Standard Cable cut back advertising expenditures to minimum level and



reduced the number of channel members for its industrial cable product.



These actions are indicative of a product in which of the following stage of



its life cycle?



► Introduction



► Growth



► Maturity



► Decline



Highest percentage of ideas for new products originates with/from which of



the following sources?



► Top management



► Customers



► Competitors



► Employees



Know thy market - RFID Training: RFID Education and Market .. .





Several studies of industrial markets have shown that the highest percentage of new product ideas originate with customers.






Which of the following are the people who purchase new products almost



as soon as the products reach the market?



► Innovators



► Late majority



► Early majority



► Late adopters



One who are early adopters. They are very quick in their response. These



people are venture some and willing to try new ideas. In fact they are



innovators in life and early adopters.



Which of the following is NOT one of the stages that customers go through



in the process of adopting a new product?



► Desire



► Awareness



► Evaluation



► Interest



FIVE SUCH STAGES HAVE BEEN OBSERVED





• AWARENESS: this stage is when a consumer hears about an innovation, but lacks information about it • INTEREST: the consumer is stimulated to seek information about the innovation • EVALUATION: this is w hen the consumer decides whether to use the product or not • TRIAL: the consumer tries the product to estimate the value of innovation • ADOPTION: this is when the consumer adopts to use the product on regular basis and use the innovation



Which product is MOST likely to be purchased through routine decision



making?



► Television set



► Soft drink



► Shirt



► Car



Which of the following has a quick response towards a new product?



► Opinion leaders



► Late majority



► Early majority



► Early adopters



One who are early adopters. They are very quick in their response.



Which of the following brands is created specifically to counter a



competitive threat?



► Premium brand



► Economy brand



► Fighting brand



► Corporate brand



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



threat.



Using one brand name for several related products is known as which of



the following?



► Family branding



► Group branding







 

When one brand name is used for several related products, this is referred to as Family branding.
















 

primary packaging is used to color beverages, dessert powders, candy, ice cream



According to “ Research supporti ng odd pri cing theory ” which of the



following number out of all the numbers between 1 and 100 is thought to



have least perceived value as compared to its actual value?



► 90



► 77



► 55



► 25



In a study, the perceived value of all the numbers between 1 and 100 were studied, and 77 was shown to

        





have the lowest perceived value relative to its a ctual value.






► Allowance



► Flawless performance



► Discounts



► High pro



3. They require flawless performance in this application - The cost of



product malfunction is too high



to buy anything but the best - example: heart pacemaker motion



Mr. A, marketer of XYZ Co. is selling his ice-cream in the market at Rs.20,



20% more than his competitors‟ price. Still his sales are increasing. Now



his aim is to maintain same pricing. He enjoys which type of leadership?



► Promotion leadership



► Price leadership



► Cost leadership



► Product leadership



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



written form?



► Wholesale price



► Market price



► List price



► Retail price





They could modify either the manufacturer's list price (determined by the manufacturer and often printed on the package), the retail price (set by the retailer and often attached to the product with a sticker), or the list price (which is quoted to a potential buyer, usually in written form).



A seller wants payment from buyer within 10 days of sales (whereas



customer can made payment within 30 days) and offers 4% discount if



payment is made within 10 days. What type of cash discount will be



suitable?



► 4/10 net 30(page#43)



► 10/4 net 30



► 10/30 net 4



► 4/30 net 10



Market-penetration pricing will likely to be used most in selling which of the



following items?



► Specialty



► Convenience



► Unsought



► Pharmaceuticals



Many companies try to set a price that will maximize current profit. This



strategy assumes that company has knowledge of its:















Identify the other name for global market.



► Consumer market



► Import market



► Export market



► Government market



Which one of the following 4Ps of marketing mix involves in decisions



regarding list prices, discounts, allowances and payment periods or credit



terms?

  



► Product



► Price



► Place



► Promotion






Customer cost will be considered as which of the following Ps of marketing



mix?



► Product



► Price



► Place



► Promotion



Which of the following is about managing strategically the customer‟s



entire experience with the product and company?



► Customer experience management



► Customer retention management



► Customer life-time value management



► Customer relationship management



CUSTOMER EXPERIENCE MANAGEMENT



5 Nov 2009 ... Is related to managing strategically customers entire



experience with the product and the company .



Customer‟s viewpoint on a firm‟s products and services can be improved



through:



► Experiential world of customers



► Experiential innovation



► Customer interface



► Building experiential platform



STEP NO 5



Continue experiential innovation



• Anything that can improve customer‟s own viewpoint on your products



and services



Which of the following firms emphasizes on product‟s benefits to the



customers rather product attributes?



► Product oriented



► Market oriented



► Sales oriented



► Production oriented



MARKETING ORIENTATION FIRM CHARACTERISTICS



Broad product lines



Emphasis on a product‟s benefits to customers rather than



on productattributes






q=cache:QPK3NRVx6lAJ:churmura.com/business/marketorientation/



22142/+Market+oriented+firms+emphasi



Which of the following is NOT a technique of measuring customer



satisfaction and monitoring customer‟s complaint?



► Customer complaints database



► Web and telephone information hotlines



► Exit interviews






The phenomenon, when a customer dislikes a product and talks against



the product, is termed as:



► Propaganda



► Unfavorable environment



► Bad mouth



► Bad impression



The customer still may not fully like the product and have



what we calls „bad -mouth‟. Bad mouth is when a customer talks not in



favours of the product. Bad mouth



travels fas



Products that are usually purchased due to adversity and high promotional



back up rather than desire are called:



► Sought goods



► Unique goods



► Unsought goods



► Preferred goods



This concept emphasizes on aggressive selling and high promotional back



up. Selling, concept is



practical on what we call as „unsought goods‟ such as insurance,



encyclopedia et



A customer requirement about any product in which he/ she needs to avail



core features in that product, is called:



► Real need



► Stated need



► Unstated need



► Delighted need






► Convenience



► Shopping



► Specialty



► Unsought



Which of the following is NOT an aggressiveness strategy?



► Harvesting



► Building



► Intensification



► Holding



Marketing Strategies



Aggressiveness strategies - This asks whether a firm should grow or not, and if



so, ... One scheme divides strategies into: building; holding; harvesting



Which of the following is NOT a type of innovation strategy?



► Pioneers



► Challengers



► Close followers



► Late followers



Market Strategies | Economy Watch



Innovation strategies also also let the company know if it is on the verge of fore



fronting technology ... These can be of three types-pioneers,close



followers and late followers



Suppose Nestle wants to expand its line of food products. The managers



conduct surveys from customers to determine which food items would



appeal to customers. Nestle is currently in which of the following phase of



new product development?



► Idea generation



► Idea screening



► Test marketing






http://webcache.googleusercontent.com/search?q=cache:-



XtQ9vRd_EsJ:www.ehow.com/info_8196815_list-new-product-developmentprocess.



html+test+






The skimming, penetration, bargaining and discounts are included in which of the



following marketing mix strategy?



►



► Price decisions



►



►



Price Decisions



Some examples of pricing decisions to be made include:



• Pricing strategy (skim, penetration, etc.)



• Suggested retail price



• Volume discounts and wholesale pricing



• Cash and early payment discounts



• Seasonal pricing



• Bundling



• Price flexibility



• Price discriminat io






The building, holding, and harvesting are the types of:



►



► Aggressiveness strategy



►



►



• Aggressiveness Strategies - This asks whether a firm should grow or not, and if so,



how fast.



One scheme divides strategies into:



o building



o holding



o harvesting






Which of the following attacks the vulnerable part of a competitor?



►






►



►



Market Challenger



A market challenger is a firm in a strong, but not dominant position that is



following an aggressive strategy of trying to gain market share. It typically targets



the industry leader (for example, Pepsi targets Coke), but it could also target



smaller, more vulnerable competitors.






The strategy which involves creating a product that is perceived as unique and should



provide superior value for the customer is called:



►



►






►



DIFFERENTIATION STRATEGY



Differentiation involves creating a product that is perceived as unique. The unique



features or benefits should provide superior value for the customer if this strategy is



to be successful

Product decisions Place decisions Promotion decisions

Innovation strategy

Diversification strategy Market dominance strategy

Market leader Market nicher Market follower

Market segmentation strategy Market dominance strategy Cost leadership strategy






Presenting the product concept to appropriate target consumers and getting their



reactions, describes which of the following options?



►



► Concept testing



►



►



www.vuaskari.com






Which of the following is the packaging objective, in which small products are grouped



together in one package for the reasons of efficiency?



►



► Agglomeration



►



►






Which of the following marketing mix element generates revenue?



►



► Price



►



►






Which of the following is considered as dead end of distribution?



►



► Warehousing



►



►






While considering the place for a product which of the following is important for



customer?



►



► Convenience



►



►






The loyalty marketing focuses on establishing long term relationship between:



►



►



►



► Company and customer



Relationship Marketing focuses on establish and building long term relationship



between the company and customer. We also call it loyalty marketing






Which of the following is NOT an ancillary service?



►



►



►



► Labeling



The offering of a ncillary services like credit availability, delivery, installation, and



warranty

Concept development Commercialization Concept trial

Information transmission

Physical protection Theft reducing

Promotion Place Product

Promotion Wholesaling Retailing

Communication Customer cost Customer solution

Company and retailer Retailer and customer Retailer and consumer

Warranty Installation Delivery






www.vuaskari.com






Which of the following best describes the definition of marketing mix?



►



►



► The way business elements are combined to meet the needs of customers



►






Which of the following strategies requires premium pricing?



►



►






►






Price is the only element in the marketing mix that produces __________.



► Revenue



►



►



►



www.vuaskari.com






Which of the following is involved in decisions such as: what country to enter in, how to



enter, how to adopt their product and services and how to price?



►



►



► Global markets



►






If an NGO purchases furniture for its office, it is purchasing a(an):



► Consumer good



►



►



►






The want satisfying power of a product or service is known as a/an:



►



►



► Utility











The way product is priced The way product are arranged in the stores

The way business distribute the products in the market

Target market strategy Market segmentation strategy Cost leadership strategy

Variable costs Expenses Stability

Consumer markets Business markets Non profit markets

Consumer service Industrial good Industrial service

Desire Need



►






Factors of broad environment directly affect the:



►



►



►



► Technological environment






While writing the marketing plan, the analysis of company’s own resources comes under



which of the following section of marketing plan?



►



► Market analysis



►



►



b) Current Situation - Market Analysis



Indeed, market situation must be taken into account in all details and carefully



studied. Market definition, Market size, Market Segmentation, Industry Structure



and strategic groupings, Competition and market share, Competitors' Strengths



and Weaknesses and Market Trends must be carefully studied and analyzed.



This will give us t






The firm objective in the introductory stage of the product life cycle is to:



► Extend the cycle as long as possible



►



►



►






The majority of firms enter in a particular market during the:



►



► Growth



►



►






Which of the following come(s) under the category of new product?



►



►



►



► All of the given options






Suppose Nestle wants to expand its food products line. The managers conducted surveys



from customers to determine which food items would appeal to customers. Nestle is



currently in which of the following phase of new product development?



www.vuaskari.com



►



► Idea screening



►



►



• Idea Screening



o eliminate unsound concepts



o must ask three questions:

Motive

Economic environment Task environment Cultural environment

Macro environment Consumer analysis Internal environment analysis

Improve warranty terms and service availability Emphasize market segmentation Stimulate demand for the product

Introduction Maturity Decline

New product lines Product improvements Cost reductions

Idea generation Test marketing Business analysis



. will the target market benefit from the product



. is it technically feasible to manufacture the product



. will the product be profitable






The stage in the adoption process that has been reached when an individual becomes



sufficiently involved with a new product to begin to seek information about it is called:



►



►



►



►



TRIAL: the consumer tries the product to estimate the value of innovatio






Based on pricing objectives, a general guideline that is intended for use in specific



pricing decision is called:



►



►



►



►






The consumer ’s perception of prices such as Rs. 5.95 and Rs. 6.99 is that these prices



are:



►



►



►



►






Which of the following is the traditional pricing objective?



►



►



►



►

 

Awareness Evaluation Interest Trial

A product line A pricing policy A s trategic pricing An objective pricing

Regular retail prices Wholesale prices Competitive prices Discount prices

Increase market share Maximize profits Meet competitors ’ prices Increase market growth


A supermarket advertises sugar and coffee at very low prices with the objective of



attracting customers who will buy other high profit items. This is called:



www.vuaskari.com



►



►



►



►






The marketing plan is one of the most important outputs of:



►



►



►



►



A marketing plan may be part of an overall Business Plan.




 

Product line pricing Multiple unit pricings Odd pricing Loss leader

Business plan

Marketing process Production process Selling plan

A market leader firm can expand the total market through: www.vuaskari.com



►






►



►






Which of the following are the products bought by individuals and organizations for



further processing or for use in conducting a business?



►



► Industrial



►



►



Industrial Products: used in the production of other good






The high cost, low sales volume and losses are likely to occur at the:



►



► Introduction stage



►



►



2. Market introduction stage



• Cost high



• Sales volume low



• Losses

 

Decreasing distribution of the product

Eliminating some features of product Increasing cost

Specialty

Shopping Consumer

Decline stage

Maturity stage Growth stage


Aggressive pricing is associated with which of the following stage of product life cycle?



►



► Growth



►



►



3. Growth stage



• Costs reduced due to economies of scale



• Sales volume increases significantly



• Profitability



• Prices to maximize market shar






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



the primary container? www.vuaskari.com



►



►






►









►



►



►









Which of the following marketing mix element generates revenue? www.vuaskari.com



►



► Price

Introduction

Maturity Decline

Primary packaging Secondary packaging Decorative packaging

Decorative packaging Transport packaging Secondary packaging

Promotion



►



►






The buyer at ABC Furniture Store is informed that if he/she will increase his/her recent



order of fifteen mattress sets to twenty, she will receive a 14 percent price reduction. This



offer is due to a recent overstock condition at the factory and will not be available in the



future. What is the type of discount offered by ABC Furniture store?



► Trade



►



►



►



3) Trade discounts (also called functional discounts) –



These are payments to distribution channel members for performing some



function . Examples of these functions are warehousing and shelf stocking. Trade



discounts are often combined to include a series of functions, for example 20/12/5



could indicate a 20% discount for warehousing the product, an additional



12% discount for shipping the product, and an additional 5% discount for keeping



the shelves stocked. Trade discounts are most frequent in industries where retailers



hold the majority of the power in the distribution channel (referred to as channel



captains).






BATA offered 10% discount on the sale of shoes at the end of winter season. What can



be the purpose of giving such discount?



►



► Move- out- of- date stock



►



►






Which of the following is also known as accumulation discounts?



►



►



► Cumulative quantity discount



►



•Cumulative quantity discounts (also called accumulation discounts). These are



price reductions based on the quantity purchased over a set period of time. The



expectation is that they will impose an implied switching cost and thereby bond the



purchaser to the seller.






Many companies try to set a price that will maximize current profit. This strategy



assumes that company has knowledge of its: www.vuaskari.com



►



►



►









Companies that are involved in selling mass consumer goods and services are found in



which of the following markets?



►



► Consumer markets



►

Place Product

Seasonal Non-cumulative Promotional

Reward the customers Encourage the salespeople To increase short term sales

Trade discount Non-cumulative quantity discount Quantity discount

Cost and production function Revenue and cost function Demand and market function

Business markets Global markets



►



CONSUMER MARKETS



Selling of mass consumer goods and services such as soft drinks, tooth pastes, TV



sets etc. Great time is spent in establishing superior brand image to be successful in



consumer product marketing. It requires clear understanding of target consumers,



the product, which meets their needs, communicating brand positioning more



forcefully and creatively etc. All this will help them establish number one or two



position






Which of the following 4Ps of marketing mix involves in decisions regarding channels



coverage, assortments, locations, inventories or transports?



►



►



► Place



►









customer? www.vuaskari.com



►



► Convenience



►



►






Which of the following is NOT a technique of measuring customer satisfaction and



monitoring customer ’s complaint?



►



►



►






Business Analysis



o estimate likely selling price



o estimate sales volume



o estimate profitability and breakeven poin

 

Government markets

Product Price Promotion

Communication

Customer cost Customer solution

Customer complaints database Web and telephone information hotlines Exit interviews


A customer requirement about any product in which he/ she needs to avail core features



in that product, is called:



► Real need



►



►



►



b. Real need (wants a car which is lower in maintenance)






Marketing starts with which of the following 4Ps?



► Product



►



►



►






In which section of the marketing plan you would find the detailed information about the



marketing environment, market trends, customers and competitors?



► Situation analysis

Stated need Unstated need Delighted need

Price Place Promotion



►



►



►



4. Summary of Situation Analysis



External threats, external opportunities, internal strengths, internal weaknesses, key



success factors in the industry, our sustainable competitive advantage, marketing



research etc must be carefully understood and analyzed. Information requirements,



research methodology and research results must be carefully ascertained at this



stage and carried out






Which of the following is NOT an option available for market leaders?



►



►



►



►






Especially for which type of products the marketers should view packaging as a major



strategic tool? www.vuaskari.com



►



► Consumer shopping products



►



►






When a firm or store offers a price reduction to customers who buy during off-peak



periods throughout the year, we say the firm is giving a(n) _____ discount.



►



►



►



►






The want satisfying power of a product or service is known as a/an:



►



►



► Utility



►






In a television advertisement a group of teenagers is searching for some cold drinks to



quench their thrust. In their searching they find a shop and they purchase the soft drinks.



The selection of cold drink appeals to consumers’ _________ for liquid and attempts to



shape consumers’ _________ for the advertised product.



►



►



► Needs, wa nts



►



www.vuaskari.com






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



►



► Physical distribution

Product/market background

Marketing strategies Market analysis

Reduce the product quality Improve customer service Protect the existing market share Expand the total market

Convenience products

Industrial products Specialty products

Functional Seasonal Annual Allowance

Desire Need

Motive

Needs, preferences Wants, needs

Want, preference

Critical path analysis



►



►






These objectives are often the most suitable when firms operate in a market dominated by



a major competitor and where their financial resources are limited.



►



►



► Harvest



►



Help prepare for the sale of the business (harvesting)






Suppose Nestle wants to expand its food products line. The managers conducted surveys



from customers to determine which food items would appeal to customers. Nestle is



currently in which of the following phase of new product development?



►



►



► Test marketing



►






Competitor indexing Brand equity

Niche Hold Diversification

Idea generation Idea screening

Business analysis

As a marketer you want to use lower than normal prices as an ingredient in your firm’s



marketing strategy. The technique you would use is:



►



►



►



► Promotional pricing






Why price war is not beneficial for small companies?



Answer:



Price was is state of intense competition over the price of product



One competitor reduce the price other will lower its price to match and then a cycle of



price reduction starts. Which can leads of selling of product below the cost.



Normally smaller companies cannot compete and shut down.






Explain how Marketers can prolong the lives of many products in the maturity or



decline stages of the PLC? Also how can they move those products back to their



growth stage?



Answer:



In the decline stage of the marketing product development cycle, owners reduce or stop



marketing efforts and expenses. The plan is to lower the marketing efforts while your



competitors discontinue theirs.



If you keep selling the product while your competitor stop selling, then you can get the



market share which your competitor left. www.vuaskari.com






Describe quantity discounts and its types.



It is discount normally give on buying at large scale. Idea behind that is if we sell more



we can achieve the economy of scale and that benefit we can share with our customers.



Answer:



There are two type of two Types of Quantity Discounts



Cumulative:



This discount is based on the items purchased over the period of time. Like with in month

Price lining Zone pricing Relative pricing



we have to purchase this much quantity for the entailment of discount.



No cumulative



It is based on the single bulk order buying. Idea behind that discount is that we can save



the shipping, billing , sales personal expenses.






The first step in the product development process is generation of ideas. Discuss what are



the internal and external sources of ideas? Why external sources are considered to be the



more important than internal source?



Answer:



Every new product development starts with idea generation. Idea generation is process to



produce large number of idea are produce. It should be ongoing process.



During idea one should not criticize the ideas of others.



Following are few ways for idea generation



Brainstorming session: In this whole team participate and everyone can give any idea



there will b no criticism on any idea.



Idea can be obtained by basic research and SWOT analysis



Idea can be obtained from customers.



Retailers



Focus groups.



Trade shows






Which of the following has the largest market share in the relevant product market?



►



►



►



►



www.vuaskari.com



Market Leader



The market leader is dominant in its industry. It has substantial market share and



often extensive distribution arrangements with retailers. It typically is the industry



leader in developing innovative new business models and new products (although



not always). It sometimes has some market power in determining either price or



output.






Which of the following attacks the vulnerable part of a competitor?



►



►



►



►



Market Challenger



A market challenger is a firm in a strong, but not dominant position that is



following an aggressive strategy of trying to gain market share. It typically targets



the industry leader (for example, Pepsi targets Coke), but it could also target



smaller, more vulnerable competitors.






Presenting the product concept to appropriate target consumers and getting their



reactions, describes which of the following options?



►



►



►

Market leader Market challenger Market nicher Market follower

Market leader Market challenger Market nicher Market follower

Concept development Concept testing Commercialization



►



• Concept Development and Testing



o develop the marketing and engineering details



. who is the target market



. what benefits will the product provide



. how will consumers react to the product



. how will the product be produced



. what will it cost to produce it



o test the concept by asking a sample of prospective customers what they think of



the idea






Which of the following is the spread of idea from the source of invention to the ultimate



user or consumers?



►



►



►



►



STAGES OF CONSUMER ADOPTION PROCESS



Let us first take a look at the INNOVATION DIFFUSION theory. An innovation



refers to anything perceived by some one as new. It may have a long history of



innovating product. But in true sense its an Innovation to the person, who sees it



and it is he who spreads it through a social system. INNOVATION DIFFUSION



PROCESS has been defined as “The spread of idea from the source of invention or



creation to the ultimate user or consumers”. Consumer Adoption Process focuses on



the mental process through which an individual goes through from first hearing



about the innovation to the final stage of adoption









►



►



►



►



www.vuaskari.com






Which of the following is NOT a use of s econdary packaging?



►



►



►



►






Which of following is an example of corporate brand?



►



►



►



►



When a company's name is used as a product brand name, this is referred to as



Corporate branding






Which of the following is also called as prestige price? www.vuaskari.com



►



►

Concept trial

Innovation adoption process Innovation diffusion process Adoption process New product recognition

Decorative Secondary Shipping Primary

It is recyclable and environmentally safe It facilitates transportation, storage, and handling for middlemen It can not be reused for purposes other than its initial use It can be used as a promotional tool

Rafhan foods Knorr National foods Mercedes

Skimming price Penetration price



►



►






Which of the following price will be used for the heart pacemaker?



►



►



►



►

 

Psychological price Premium price

Skimming price Penetration price Psychological price Premium price


A book shop has arranged a book fair and offered 20% discount on all types of books.



What will be the purpose of offering the discount?



►



►



►



►

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

Which of the following is the effect of low price? www.vuaskari.com

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Which of the following markets involve buying and selling of goods for their utility and

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enabling them to make or re-sell a product to others?

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Which one of the following 4Ps of marketing mix involves in decisions regarding list

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prices, discounts, allowances and payment periods or credit terms?

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customer? www.vuaskari.com

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Identify which one is an ancillary service.

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Reward the customers Move- out- of- date stock Encourage the salespeople To increase short term sales

Reduction in market share Reduction in production Increase in profit margin Reduction in profit margin

Global markets Government markets Consumer markets Business markets

Product Price Place Promotion

Communication Convenience Customer cost Customer solution

Delivery Promotion Labeling Packaging

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The offering of a ncillary services like credit availability, delivery, installation, and

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warranty

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Which of the following is NOT a part of a broad environment?

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Broad environment consists of; demographic, natural, economic, technological,

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political-legal and sociocultural environmen

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Marketing starts with which of the following 4Ps? www.vuaskari.com

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Which of the following is NOT included in the financial summary of a marketing plan?

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When a firm or store offers a price reduction to customers who buy during off-peak

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periods throughout the year, we say the firm is giving a(n) _____ discount.

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“

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which of the following concept of marketing?

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If an NGO purchases furniture for its office, it is purchasing a(an):

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Commercialization

Economy Corporate culture Technology Demographics

Product Price Place Promotion

Pro-forma income statement Month-by-month agenda Breakeven analysis Assumptions

Functional Seasonal Annual Allowance

The future isn’t ahead of us, it has already happened”. This sentence is closely related to

Marketing Mix Marketing for the millennium New advancement in marketing Marketing research and innovation

Consumer good Consumer service Industrial good Industrial service

Critical path analysis Physical distribution Competitor indexing Brand equity

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o launch the product

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o produce and place advertisements and other promotions

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o fill the distribution pipeline with product

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o critical path analysis is useful at this stag

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

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strategies? www.vuaskari.com

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•

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o vertical integration

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o diversification (or conglomeration)

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o intensification

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Harvesting Building Intensification

Holding Horizontal Integration


A Company wants to create awareness about the features and befits of their products in

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the market. Which of the following decisions are important to achieve this goal?

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Profits begin to decline during which of the following stage?

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Which of the following step involves determining the compatibility of product with

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company’s objectives and resources on a general level? www.vuaskari.com

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Idea Screening

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o eliminate unsound concepts

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o must ask three questions:

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. will the target market benefit from the product

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. is it technically feasible to manufacture the product

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. will the product be profitabl

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The degree to which innovation is consistent with the values and experiences of potential

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adopters is the characteristics of innovation referred to as:

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The most commonly used method of setting prices today is:

Price decisions Place decisions Promotion decisions Product decisions

Introduction Growth Maturity Decline

Idea generation Idea screening Product development Business analysis

Communicability Complexity Divisibility Compatibility

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Suppose a consumer product is at its maturity stage and as a marketing manager

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you are assigned a task to suggest some strategies which company can adopt to

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increase the sales volume at this stage. What strategies will you suggest at this stage

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to increase the profit margins of the company?

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Marginal analysis pricing Cost plus pricing Full cost pricing Break even pricing

Answer:

As a marketing manager I’ll suggest the following strategies

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1- Reduction in publicity as product is mature and customers know it

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2- Reduction in price because of economies of scale

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3- Discounts and allowances

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4- Efficient distribution channels

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Why do companies use discounts and allowances?

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Answer:

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Companies use discounts and allowances for various reasons some of them are

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1- To give reward to loyal customers

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2- For short-term profit or market gain

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3- To finish out-of-season stock

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4- To make product prominent

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Packaging can increase the sales of products but it can act v ice versa as well. Explain it

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with examples.

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Answer:

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Packaging is very important element in marketing mix. The objectives and goals of

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packaging are many.

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Mostly good packaging enhance product sale. But if packaging are not done with

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planning or care then it can sabotage all the effort. Because mostly packaging is done for

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the safety of the product and its transportation purposes. Suppose if the box or carton in

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which a perishable product is enclosed it leaks then what will be the impression of that

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product on customers. It will defame the product and company/brand.

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The objectives that are gotten by packaging and labeling are

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1- Safety

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2- Agglomeration

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3- Information

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4- Advertising through labeling

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5- Marketing by attractive packaging

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Why price is considered to be one of the most flexible elements of the marketing mix?

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Explain what are the factors that can influence the price of any product?

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Answer:

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Price is considered the most flexible thing in marketing mix because it helps to achieve

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strategic as well as business goals and objectives like

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1- Profitability (to achieve business/financial objectives)

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2- To adjust price according to customer purchasing power(are customers able to

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purchase at this price)

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3- For market positioning www.vuaskari.com

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Factors that can influence the price of any product:

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Following factors influence the price decisions

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1- Marketing strategic objectives

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2- Current Market/economic situation

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3- Customer ’s purchasing power

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4- Cost of the product

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5- The decision of what pricing strategy you want to adopt e.g. cost plus profit,

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premium price etc.

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6- The objectives of the product or brand

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7- Available resources

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8- Distribution channels and their relative cost

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

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sources?

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How many stages are there in the new product development process? www.vuaskari.com

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Decreasing distribution of the product Introducing the new usage of the product Eliminating some features of product Increasing cost

Top management Customers Competitors Employees

Six Seven Nine Eight

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

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sources of new-product ideas include

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internal sources, customers, competitors, distributors and suppliers, and

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others

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Which of the following is essential requirement for medicines and drugs?

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MANDATORY LABELING

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Mandatory labeling is the requirement of consumer products to state their

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ingredients or components. Moral purchasing and avoidance of health problems like

Government agencies Competitors Suppliers Customers

Secondary packaging Primary labeling Decorative packaging Mandatory labeling

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allergies are two things which are enabled by

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labeling. It is mandated in most developed nations, and increasingly in developing

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nations, especially for food products.

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With regard to food and drugs, mandatory labeling has been a major battleground

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between consumer

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advocates and corporations since the late 19th century.

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

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following?

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. When acompany's name is used as a product brand name,

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this is referred to as corporate branding .

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Often a very strong brand name or company name used for a range of products is k nown

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as: www.vuaskari.com

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When one brand name is used for several related products, this is referred to as

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Family branding

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Economy brand Fighting brand Corporate brand Premium brand

Brand development Multi branding Individual branding Family branding

All of the following are true about price EXCEPT:

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► Price is independent of the other elements of the marketing mix

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Price is the monetary value of a product Price is most flexible tool in the marketing mix Price is marketing mix element which produces revenue

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

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suitable for the company? www.vuaskari.com

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TYPES OF DISCOUNTS AND ALLOWANCES

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The most common types of discounts and allowances are:

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1) Cash discounts for prompt payment - These are intended to speed payment and

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thereby provide liquidity to the firm. They are sometimes used as a promotional

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device.

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Which of the following is NOT a technique of measuring customer satisfaction and

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monitoring customer ’s complaint?

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Seasonal discount Trade discount Quantity discount Cash discount

Customer complaints database Web and telephone information hotlines Exit interviews Business analysis

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M I D T ERM E X AM I N A TI ON M KT 501- M arketing M anagement F all 2009 2010 & 2011 All paper s solved in one mega file By Admin Bi ni sh Awais www.vuaskari.com Question No: 11 ( Marks: 1 ) - Please choose one

All are the expression of marketing concept EXPECT:

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Order processing decisions are related to which of the following?

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Distribution (Place) Decisions

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Distribution is about getting the products to the customer. Some examples of

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distribution decisions include:

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• Distribution channels

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• Market coverage (inclusive, selective, or exclusive distribution)

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• Specific channel members

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• Inventory management

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• Warehousing

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• Distribution centers

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• Order processing

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• Transportation

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• Reverse logistic

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Identify the major components of the microenvironment.

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intermediaries

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customer markets

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forces

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The microenvironment refers to the forces that are close to

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the company and ... itssuppliers, marketing intermediaries, customer

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markets , competitors, and publics

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Meeting needs profitably Find wants and fill them Sell what is produced Love the customer, not the product

Product Price Distribution Promotion

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

Company, suppliers, intermediaries,technological forces , competitors and

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

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

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

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Forward vertical integration means buying out a customer (e.g. the car

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manufacturer .... such astelevision , newspapers, magazines, cinema or radio

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• In f orward vertical integration, the company sets up subsidiaries that distribute

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or marketproducts to customers or use the products themselves. An example of this

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is a movie studio that also owns a chain of theaters

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Which of the following are the value maximizers for the organization?

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Customers are value -maximizers . They form an expectation of value and act

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on it.

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

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In a television advertisement a group of teenagers is searching for some cold drinks to

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quench their thrust. In their searching they find a shop and they purchase the soft drinks.

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The selection of cold drink appeals to consumers’ _________ for liquid and attempts to

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shape consumers’ _________ for the advertised product. www.vuaskari.com

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Which of the following is the unique combination of benefits received by targeted buyers

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that includes quality, price, convenience, on time delivery, and both before sale and after

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sale service.

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http://highered.mcgrawhill.

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Backward vertical integration Forward vertical integration Horizontal integration Vertical integration

Customers Sellers Marketers Manufacturers

Marketing mix management Demand management Marketing process management All of the given options

Needs, preferences Wants, needs Needs, wants Want, preference

The marketing concept Customer value The price-quality trade off Customer relationship management

com/sites/0072828803/student_view0/chapter1/multiple _choice_quiz_a.html

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Marketing programs are most closely related to:

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Customer relationship management The marketing mix The four utilities Customer value

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

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strategies?

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Which of the following goods are purchased by customers after comparisons of

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competing goods available in stores on the basis of price, quality, style and colors?

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Diversification is best described as which of the following?

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One of the benefits of test marketing is,

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27

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Which of the following are the opinion leaders in their community and adopt new

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products early but carefully?

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►

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►

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ref.

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

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They tend to collect

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information about the change or the product, study carefully and then adopt on the basis

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of their merits.

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Critical path analysis page no 28 Physical distribution Competitor indexing Brand equity

Harvesting Building Intensification page no 18

Holding

Specialty goods page no 25 Shopping goods Impulse goods Convenience goods

Existing products in new markets Existing products in existing markets New products for new markets New products

It saves on segmentation efforts to individual consumer It saves on total competitive advertising and promotional expenditures It can save the company from greater potential loss and embarrassment page no It is long run rather than short run planning www.vuaskari.com

Early adopters Early majority page#34 Late majority Innovators

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

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ref.

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

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non-competing

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

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Brand licensing page#38 Co-branding Family branding Individual branding

As a marketing manager, you decide to use psychological pricing as a straegy in pricing

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your firm’s products. He pricing procedure you decide upon is:

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Odd pricing page#40 Competitive pricing Unit pricing Trade in pricing

A trade discount is also known as:

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Cash discount Seasonal discount Quantity discount Functional discount

paper s solved in one mega file y Admin

Question No: 1 ( M - 1 ) . Within the operations function, which one of the following is a long-term management decision? ► Control decision ► Non-operational decision ► Strategic decision ► Tactical decision Question No: 2 ( M - 1 ) . The management of systems or processes that creates goods and provides services is known as: ► Operation Management ► Operation/production Management ► Operation/Research Management ► Production/Research Management Question No: 3 ( M - 1 ) . Which one of the following decision is NOT made by operations managers?

► How much capacity is required to balance demand? ► What should be the location and layout of a facility? ► How to improve operational efficiency? ► Which market areas to manufacture the products for? Question No: 4 ( M - 1 ) . A business process is a logical set of tasks or activities that: ► Are specific to the operations function ► Are specific to the marketing function ► Are interdependent with other processes ► Have exactly the same performance measures for any process Process Improvement: Process mapping and lean tools are used to better plot out present process methods with an eye for improvement. The keys are to understand how each process functions by itself and sequenced, integrated and interdependent with other processes. Question No: 5 ( M - 1 ) . Which one the following formula or function can be used to measure the performance? ► Flexibility + profit+ operations ► Work + profit + value ► Quality + speed + flexibility ► Profit + Incentives + standards Performance= (Quality +Speed+ Flexibility) Question No: 6 ( M - 1 ) . Which of the following statements describes an order-qualifier characteristic? ► A competitive dimension used to make final decision among competitors ► A factor which directly and significantly contribute to winning business ► A factor which increases the profitability of the organization ► A factor perceived as a minimum standard as a potential for purchase Question No: 7 ( M - 1 ) . Which one of the following forecasting techniques uses explanatory variables to predict future demand? ► Associative forecast ► Time series forecast ► Consumer survey ► Executive opinion

Associative models: uses explanatory variables to predict the future. Question No: 8 ( M - 1 ) . In which one of the following decision environments it is impossible to assess the likelihood of various future events? ► Risk ► Bounded rationality ► Certainty ► Uncertainty Question No: 9 ( M - 1 ) . Which one of the following is an implication of laplace approach of decision making? ► The best of the worst possible payoff ► The best possible payoff ► The best average payoff ► The least of the worst regrets Question No: 10 ( M - 1 ) . Which one of the following is an outcome of MINIMAX regret? ► The best of the worst possible payoff ► The best possible payoff ► The best average payoff ► The least of the worst regret MINIMAX regret: Chooses the alternative with the best worst. Question No: 11 ( M - 1 ) . Which one of the following is a limitation of a moving average having a trend? ► The forecast lags behind the actual ► The forecast represents demand more accurately ► The forecast will not be accurate ► The forecast will not be reliable Moving average: A technique that averages a number of recent actual values, updated as new values become available. Question No: 12 ( M - 1 ) . Which one of the following refers to the maximum output that a firm can produce under ideal conditions?

► Design capacity ► Effective capacity ► Capacity planning ► Utilization rate D Design capacity is the maximum output rate or service capacity an operation, process, or facility. Question No: 13 ( M - 1 ) . Which one of the following is a characteristic of continuous process? ► High lead times ► Short process times ► The ability to handle high variety ► The ability to handle high volumes Continuous process: In manufacturing, a continuous process is a method that is used by manufacturing or production companies to churn out the greatest quantity of a product over the last time. Question No: 14 ( M - 1 ) . Which of the following is an example of a business that uses assembly line process structure? ► Automobile assembly ► Sugar refinery ► Heavy equipment ► French restaurants Question No: 15 ( M - 1 ) . Which of the following layout types is associated with a supermarket? ► Fixed position layout ► Process layout ► Product layout ► Cellular layout Examples of process layouts include supermarkets, hospitals, department stores and component manufacturers. Question No: 16 ( M - 1 ) . Which one of the following layout types is associated with car assembly? ► Fixed position layout ► Process layout ► Product layout

► Hybrid layout Product layouts are used to achieve a smooth and rapid flow of large volumes of goods and customers through a system. Question No: 17 ( M - 1 ) . A department store discovered that in a four-month period, the best forecast can be determined by using 50 percent of the sales for the most recent month, 20 percent of the sales of two months ago, 10 percent of the sales of three months ago, and 20 percent of the sales of four months ago. Which forecasting method should the store use to forecast demand? ► Simple Moving Average ► Linear Regression ► Time Series Analysis ► Weighted Moving Average Question No: 18 ( M - 1 ) . Which one of the following is an application of simple exponential smoothing? ► Establishing durability ► Finding reliability ► Scheduling services ► Quality improvement Question No: 19 ( M - 1 ) . Which of the following takes into consideration the design of aesthetics of the product? ► Functional design ► Production design ► Service design ► Product design Product design has been considered to comprise three main elements: 1.Aesthetics 2. Ergonomics. 3. Technology. Question No: 20 ( M - 1 ) . Which one of the following statements is TRUE about product life cycle? ► It depicts demand of a product at various price levels ► It depicts demand of a product with respect to time ► It relates demand of a product to quality

► It relates demand of a product to market share Question No: 21 ( M - 1 ) . Which one of the following is TRUE about Taguchi approach? ► To test the robustness of a design ► To articulate the “voice “voice of of the customer” ► To reduce the degree of automation ► To create a concurrent design The defining characteristics for the Taguchi approach include: Design a robust product. Question No: 22 ( M - 1 ) . Which one of the following is a curve showing failure rate over time?

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► Cost curve ► Bath tub curve ► Fish bone diagram ► Reliability curve ►Reliability curve ►Reliability curve The bathtub curve is widely used in reliability engineering. It describes a particular form of the hazard function which comprises three parts: The first part is a decreasing failure rate, known as early failures. The second part is a constant failure rate, known as random failures. The third part is an increasing failure rate, known as wear-out failures. Question No: 23 ( M - 1 ) . Which of following statement is true about effective capacity? ► It is the actual output achieved ► It is always less than actual output ► It is the maximum output that a firm can produce ► It is always less than designed capacity Effective capacity: Actual maximum load or demand a device or system can carry or meet. Question No: 24 ( M - 1 ) . Which one of the following is used to produce gasoline and petroleum products? ► Job shop ► Batch processing ► Assembly line ► Continuous processing

Continuous process is a method that is used by manufacturing or production companies to churn out the greatest quantity of a product over the last time. Manufacturers most often use the continuous process in the manufacture of chemicals, drugs, and glass, as well as in the refining process for crude oil. Question No: 25 ( M - 1 ) . Quality, costs, lead times, operating resources are all related to which one of the following strategies. ► Organizational strategy ► Financial strategy ► Operational strategy ► Tectical strategy Operations strategy is the total pattern of decisions which shape the long-term capabilities of any type of operations and their contribution to the overall strategy, through the reconciliation of market requirements with operations resources. Question No: 26 ( M - 1 ) . Which one of the following refers to bringing together engineering design and manufacturing personnel early in the design phase. ► Reverse engineering ► Concurrent engineering ► Manufacturability ► Serviceability Concurrent engineering is the bringing together of engineering design and manufacturing personnel early in the design phase. Question No: 27 ( M - 1 ) . Which of the following refers to the way an organization chooses to produce its goods or services? ► Process selection ► Process reengineering ► Process redesign ► Process design Process Selection refers to the way an organization chooses to produce its good or services. Question No: 28 ( M - 1 ) . Which one of the following is the first step in line balancing? ► To specify the sequential relationship among tasks.

► To determine the required cycle time. ► To determine the minimum number of workstations. ► To determine the desired output Question No: 29 ( M - 3 ) Write down at least three ways of improving reliability of a system. Answer: With the help of following ways, reliability can be improved: Quality of product. By increasing the product life time. By minimize the chances of infant mortality. Question No: 30 ( M - 3 ) What qualities does a successful job design contain? (Solution provided by Maria Iqbal) Answer: A successful Job Design must have the following qualities: 1. Carried out by experienced personnel who have the necessary training and background. 2. Consistent with the goals of the organization. 3. In documented form. 4. Understood and agreed by both management and employees. 5. Shared with the new employees. 6. Factors that affect Job Design. Question No: 31 ( M - 5 ) Suppose you are the operations manager of ABC Corporation. To develop competence in business operations, you have to decide either to rely on the facilities available in-house or outsource. What are some of the factors you would base the decision on? Question No: 32 ( M - 5 ) “Standardization plays an important role in product design". How will you describe this role? Answer:

Marketing MCQs

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