Marketing Management Set 20
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This set of Marketing Management Multiple Choice Questions & Answers (MCQs) focuses on Marketing Management Set 20
Q1 | When companies make marketing decisions by considering consumers' wants and the longrun interests of the company, consumer, and the general population, they are practicing which of the following principles?
- Innovative marketing
- Consumer-oriented marketing
- Value marketing
- Societal marketing
Q2 | The ______________ holds that consumers will favour products that are available and highly affordable (therefore, work on improving production and distribution efficiency).
- Product concept
- Production concept
- Production cost expansion concept
- Marketing concept
Q3 | The term marketing refers to:
- New product concepts and improvements
- Advertising and promotion activities
- A philosophy that stresses customer value and satisfaction
- Planning sales campaigns
Q4 | The term "marketing mix" describes:
- A composite analysis of all environmental factors inside and outside the firm
- A series of business decisions that aid in selling a product
- The relationship between a firm's marketing strengths and its business weaknesses
- A blending of four strategic elements to satisfy specific target markets
Q5 | Early adopters of which opinion leaders are largely comprised of and tend to be ______________
- Generalized; that is, they tend to lead the group on most issues
- More likely to buy new products before their friends do and voice their opinions about them
- From the upper class; people from other classes are more likely to be followers
- Quiet, withdrawn people who don't make fashion statements or take risks easily
Q6 | A marketing philosophy summarized by the phrase "a good product will sell itself" is characteristic of the ______________ period.
- Production
- Sales
- Marketing
- Relationship
Q7 | Today's marketers need ______________
- Neither creativity nor critical thinking skills
- Both creativity and critical thinking skills
- Critical thinking skills but not creativity
- Creativity but not critical thinking skills
Q8 | The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is called ______________
- Marketing strategy.
- Marketing control.
- Marketing analysis.
- Marketing implementation
Q9 | Segmentation is the process of:
- Dividing the market into homogenous groups
- Selecting one group of consumers among several other groups
- Creating a unique space in the minds of the target consumer
- None of these
Q10 | Good marketing is no accident, but a result of careful planning and _____________.
- Execution
- Selling.
- Research.
- Strategies.
Q11 | The traditional view of marketing is that the firm makes something and then ______________ it.
- Markets.
- Sells.
- Prices.
- Services.
Q12 | A true definition of a product is the detailed version of the product only if it is stated in
- Meaningful marketer view
- Meaningful supplier view
- Meaningful consumer view
- Meaningful Manager view
Q13 | A version of products containing only those features which are absolutely necessary for itto function.
- Expected Product
- Augmented Product
- Generic Product
- Potential product
Q14 | _________________________ outline the planned price, marketing budget, distribution and describe the target market, planned product positioning, profit goals, market share, sales for the first few years.
- Product development
- Business analysis
- Marketing strategy
- Test Market
Q15 | What would be the assumed percentage of newly launched product, will sure fail and cannot achieve their potential to survive?
- Up to 90%
- Up to 80%
- Up to 70%
- Up to 60%
Q16 | The cost, potential sale, profit of the offering is calculated at different price levels in______________ stage of “Product Development Process”.
- Evaluation
- Testing
- Idea screening
- Idea generation
Q17 | Encourage all stakeholders like customers, dealers, employees etc to send ideas to the idea manager and formally recognize the program to reward best new ideas is characteristic of which stage in the “New Product Development Process”.
- Idea generation
- Idea screening
- Testing
- Development
Q18 | Strategies that are used for new product pricing are called which of the following?
- Market-skimming pricing and Market-penetration pricing
- Market-skimming pricing and Market-product pricing
- Market-segmentation pricing and Market-penetration pricing
- None of the above
Q19 | What is captive product pricing?
- Setting prices across an entire product line
- Pricing bundles of products sold together
- Pricing products that must be used with the main product
- Pricing low-value by-products, to get rid of them
Q20 | Target pricing is the same as finding out an ideal starting selling price?
- TRUE
- FALSE
- none
- all
Q21 | When initiating price changes the company must anticipate possible reactions from bothbuyers and competitors.
- True
- False
- none
- all
Q22 | The firm uses any existing brand to introduce in market a new product, the brand is classified as:
- Brand extension
- Sub-brand
- Parent brand
- Product extension
Q23 | The pricing objectives are
- Maximum current profit, market share and market skimming
- Survival
- Product quality leadership
- All of the above
Q24 | Product quality leadership is based on
- High quality and low pricing
- High quality and premium pricing
- Low quality and premium pricing
- None of the above
Q25 | The process of setting a low initial price for attracting a large number of buyers quickly to cover a large market share is known as
- Going-rate pricing
- Penetration pricing
- Value based pricing
- Skimming pricing