Marketing Management Set 23
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This set of Marketing Management Multiple Choice Questions & Answers (MCQs) focuses on Marketing Management Set 23
Q1 | The process of collecting information about the external marketing environment is
- Environmental management
- Environmental scanning
- Marketing management
- Marketing research
Q2 | The most formal definition of marketing is ________.
- Meeting needs profitably
- Identifying and meeting human and social needs
- The four Ps (product, price, place, promotion)
- An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders
Q3 | Which of the following would be the best illustration of a subculture?
- A religion.
- A group of close friends.
- Your university.
- Your occupation.
Q4 | The ________ is a tool for identifying ways to create more customer value.
- Value chain
- Customer survey
- Brand loyalty index
- Promotion channel
Q5 | Good marketing is no accident, but a result of careful planning and ________.
- execution
- selling
- strategies
- research
Q6 | Marketing management is ________.
- managing the marketing process
- monitoring the profitability of the company’s products and services
- the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value
- developing marketing strategies to move the company forward
Q7 | Chimney Sweeps employs people to clean fireplaces and chimneys in homes and apartments. The firm is primarily the marketer of which one of the following?
- An image
- A service
- A good
- An idea
Q8 | Marketers often use the term ________ to cover various groupings of customers.
- people
- buying power
- demographic segment
- market
Q9 | The ________ concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization’s products.
- production
- selling
- marketing
- holistic marketing
Q10 | ________ is the father of modern marketing.
- Peter Drucker
- Philip Kotler
- Neil Armstrong
- Maslow
Q11 | The product mix pricing technique through which companies develop product lines for pricing instead of single products is classified as
- by-product pricing
- optional-feature pricing
- product line pricing
- Two-part pricing
Q12 | The concept of product mix which refers to wide range of product lines carried by the company is classified as
- width of product mix
- length of product mix
- depth of product mix
- consistency of product mix
Q13 | In the product mix, the company producing the toothpaste, paper products, detergents and bathing soap bars is classified as
- product line consistency
- product line width
- product line length
- product line depth
Q14 | The ________ of a product mix refers to how many variants are offered of each product in the line.
- Width
- Length
- Depth
- Consistency
Q15 | The ________ of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way.
- Consistency
- Depth
- Width
- Length
Q16 | The pricing technique used by sellers while selling individual products in bundles is
- optional-feature pricing
- pure bundling pricing
- mixed bundling pricing
- pure bundling pricing
Q17 | Pricing cues such as sale signs and prices that end in 9 become more influential when ________.
- Consumer price knowledge is poor
- Items are purchased frequently
- Items have been on the market a long time
- Prices are consistent year-round
Q18 | In market-penetration pricing, the company’s objective is to ________, believing that higher sales volume will lead to lower unit costs and higher long-run profits.
- Block competitive launches
- Maximize their market share
- Minimize their market share
- Maximize volume
Q19 | To maximize market share, a firm may use _____________ pricing, which is based on the theory that as sales volume increases, unit costs will decrease.
- Market-penetration
- Market-skimming
- Value pricing
- Demand pricing
Q20 | Consumers ________ low-cost products or items they buy infrequently.
- Prefer the lowest total cost of ownership of
- Are ambivalent to prices of
- Are more price sensitive to
- Are less price sensitive to
Q21 | Sigma-Sunco has decided to introduce its new sunscreen eye drops in a limited market consisting of only two cities and closely monitor the reactions of potential customers to the product and marketing program. This is called
- Diffusion analysis
- Use test
- Concept test
- Test marketing
Q22 | At the Melting Moments, an ice cream parlor, customers place their orders, watch their ice- cream sundaes being prepared, and then quickly eat the sundaes in the store before the ice cream melts. This is an example of a characteristic of services known as
- Inseparability
- Intangibility
- Heterogeneity
- Perishability
Q23 | Raw materials such as forest and food are termed as a.
- Infinite resources
- Finite resources
- Finite renewable resources
- Finite nonrenewable resources
Q24 | The optional-feature pricing, captive-product pricing, product-bundling pricing and byproduct pricing are considered as the techniques of
- product mix pricing
- line stretching pricing
- line filling pricing
- line deepening pricing
Q25 | Which of the following is not one of the problems typically associated with secondary data?
- It is too expensive to obtain
- It may not be current
- It may not exist
- It may not be impartial