1000 Solution key to Marketing Management

Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service. Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and providing superior customer value. From a societal point of view, marketing is the link between a societys material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. Marketing may be defined in several ways, depending on the role of the advertised enterprise in relation to the strategic role in positioning the firm within its competitive market. The main definition is often credited to Philip Kotler, recognized as the originator of the most recent developments in the field

Question # 1 of 15 ( Start time: 04:55:23 AM ) Total Marks: 1

Which of the following is included in task environment?

Select correct option:

Economy

Technology

Media

Promotion

Question # 2 of 15 ( Start time: 04:56:56 AM ) Total Marks: 1

Tight cost control is associated with which of the following strategy?

Select correct option:

Market segmentation strategy

Market dominance strategy

Differentiation strategy

Cost leadership strategy

Question # 3 of 15 ( Start time: 04:57:57 AM ) Total Marks: 1

Which one of the following tend to market high end goods and services and are able to use a premium pricing strategy in a specific market segment

Select correct option:

Followers

Challengers

Leaders

Nichers

Question # 4 of 15 ( Start time: 04:58:46 AM ) Total Marks: 1

Financial summary of a marketing plan includes all EXCEPT:

Select correct option:

Pro-forma income statement

Month-by-month agenda

Breakeven analysis

Assumptions

Question # 5 of 15 ( Start time: 04:59:40 AM ) Total Marks: 1

The loyalty marketing focuses on establishing long term relationship between:

Select correct option:

Company and retailer

Retailer and customer

Retailer and consumer

Company and customer

Question # 6 of 15 ( Start time: 05:00:23 AM ) Total Marks: 1

Which of the following are called value maximizers?

Select correct option:

Sellers

Customers

Marketers

Manufacturers

Question # 7 of 15 ( Start time: 05:01:20 AM ) Total Marks: 1

Which of the following aggressive strategy is without direction?

Select correct option:

Reactor

Analyzer

Defender

Prospector

Question # 8 of 15 ( Start time: 05:01:59 AM ) Total Marks: 1

The _ is the central instrument for directing and coordinating the marketing effort Select correct option:

Business plan

Production plan

Market plan

Selling plan

Question # 9 of 15 ( Start time: 05:02:31 AM ) Total Marks: 1

Which of the following can be used to improve the customer’s viewpoint about firm’s

products and services?

Select correct option:

Experiential innovation

Customer interface

Experiential world of customers

Building experiential platform

Question # 10 of 15 ( Start time: 05:03:56 AM ) Total Marks: 1

Which of the following is NOT a part of financial summary?

Select correct option:

Financial requirements

Pro-forma income statement

Margin analysis

Break-even analysis

Question # 11 of 15 ( Start time: 05:04:51 AM ) Total Marks: 1

Which of the following is Not a component of a marketing plan?

Select correct option:

Marketing advantages

Environmental analysis

Executive summary

Marketing implementation

Question # 12 of 15 ( Start time: 05:05:42 AM ) Total Marks: 1

Which of the following market dominance strategy involves less risk of competitive

Question # 13 of 15 ( Start time: 05:06:45 AM ) Total Marks: 1

Pictures and specification of product are added in which of the following part of the

Question # 14 of 15 ( Start time: 05:07:00 AM ) Total Marks: 1

Which of the following is NOT included in product decisions?

Select correct option:

Styling

Brand name

Warehousing

Packaging

Question # 15 of 15 ( Start time: 05:07:51 AM ) Total Marks: 1

Insurance service would BEST be described as which kind of a product?

Select correct option:

Convenience

Unsought

Specialty

Durable

Which of the following is also known as problem child?

Select correct option:

Dogs

Questions marks

Cash cows

Stars

Advertising slogans are often proved to be the most effective means of _

to one or more aspects of a product or products

Select correct option:

Which of the following is usually the target of a market challenger?

Select correct option:

Which of the following is NOT a media of advertising?

Select correct option:

Convenience

cost

Which of the following is NOT an external source of idea generation?

Select correct option:

Which of the following is NOT a part of marketing communication mix?

Select correct option:

Telemarketing

Public relations

Sales promotion

Advertising

Which of the following are called value maximizers?

Select correct option:

Sellers

Customers

Marketers

Manufacturers

Which of the following explains the description of the product?

Select correct option:

Select correct option:

First degree discrimination

Second degree discrimination

Third degree discrimination

Forth degree discrimination

Charging more for a soft drink in a vending machine than in a supermarket is known as: Select correct option:

Cost-oriented pricing

Price differentiation

Penetration pricing

Price discrimination

Which of the following stage in the PLC is characterized by rapid market acceptance,

increasing sales, and increasing profits?

Select correct option:

Select correct option:

Industrial products

Specialty products

Unsought products

Shopping products

Retailers are considered under which of the following environment?

Select correct option:

Annual market planning

Strategic market planning

The purchase of which of the following items is least likely to be affected by

Which of the following is TRUE statement?

Select correct option:

Selling and marketing are interchangeable

Marketing is a narrow concept

Selling is a part of marketing

Marketing is a part of selling

Manufacturers of shampoos often send out free samples of their products with the

magazines This illustrate the use of which of the following element of promotional mix? Select correct option:

Personal selling

Sales promotion

Direct mail

Advertising

The loyalty marketing focuses on establishing long term relationship between:

Select correct option:

Company and retailer

Retailer and customer

Retailer and consumer

Company and customer

The price of an executive is:

Select correct option:

Premium

Cost

Salary

Wage

Advertising is used by which of the following?

Select correct option:

Business firms

Nonprofit organizations

Professionals

All of the given options

Pictures and specification of product are added in which of the following part of the

marketing plan?

Select correct option:

Financial summary

Executive summary

Situation analysis

Appendix

Which of the following is Not a component of a marketing plan?

Select correct option:

Select correct option:

Forth degree price discrimination

Third degree price discrimination

Second degree price discrimination

First degree price discrimination

Which of the following type of price discrimination can be seen in any market where

excess capacity needs to be eliminated?

Select correct option:

First degree discrimination

Second degree discrimination

Third degree discrimination

Forth degree discrimination

career in sales may offers:

Select correct option:

Opportunity for advancement

High earnings

Personal satisfaction

All of the given options

Which of the following marketing channel will be best for selling High Tec products?

Select correct option:

Retailer

Mail order

Selling direct

Wholesaler

Which of the following emphasizes on profit margins rather than revenue?

Select correct option:

Market leader

Market challenger

Market nicher

Market follower

A secondary-use package can best be defined as which of the following?

Select correct option:

Can be used as a promotional tool

Can be reused for purposes other than its initial use

Facilitates transportation, storage, and handling for middlemen

Is recyclable and environmentally safe

In BCG matrix, products with high market share and high market growth are referred to as:

Select correct option:

Dogs

Question marks

Cash cows

Stars

Billboards are example of which of the following advertising media?

Select correct option:

Television

Radio

Newspaper

Outdoor

Which of the following statement is TRUE about publicity?

Select correct option:

Publicity is a tool of direct selling

Publicity is a tool of public relations

Publicity is a tool of sales promotion

Publicity is a tool of advertising

Which of the following is NOT included in product decisions?

Select correct option:

Styling

Brand name

Warehousing

Packaging

What is an outcome of communication and co-operation between sales personnel?

Select correct option:

Successful selling

Successful team selling

More market growth

More productivity

All are the performance measure for tracking the productivity of sales person EXCEPT: Select correct option:

Margin by product category

Revenue per territory

Margin and revenue per product

Revenue per sales person

Which of the following is NOT an example of variable cost?

Select correct option:

For which of the following price wars are good in the short run?

Select correct option:

Retailers

Competitors

Customers

Companies

Which of the following can be used to improve the customer’s viewpoint about firm’s

products and services?

Select correct option:

Experiential innovation

Customer interface

Experiential world of customers

Building experiential platform

Why companies are moving towards marketing public relations?

Select correct option:

To support production, promotion and image

To promote and support product promotion

To support corporate image and product

To support product promotion and selling

Cash cows are SBU's that typically generate:

Select correct option:

Large amounts of cash

A lot of competition

Large awareness levels but few sales

Problems for product managers

Cost that vary directly with the level of production are referred to as _

Select correct option:

Fixed cost

Unit cost

Total cost

Variable cost

Which of the following involves designing and manufacturing the container or wrapper for a product?

Select correct option:

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

Select correct option:

The way business distribute the products in the market

The way product are arranged in the stores

The way product is priced

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

All of the following are the examples of unsought goods EXCEPT:

Select correct option:

BATNA stands for what?

Select correct option:

The best available to a new agreement

The best available to a negotiated agreement

The best alternating to a new agreement

The best alternative to a negotiated agreement

Which of the following relating to price is considered as a key element in the marketing mix?

Select correct option:

The size of the sales force

The speed of an exchange

Quality and cost controls

The generation of total revenue

Which of the following is NOT a force in the macro environment?

Select correct option:

Cultural

Political

Economic

Supplier

Which of the following is the sale of consumer products or services in a face to face

manner away from a fixed retail location?

Select correct option:

Industrial selling

Indirect selling

Direct selling

Business to business selling

Which type of media has an advantage of “mass coverage” for promotions?

Select correct option:

Television

Radio

Newspaper

Direct mail

Price is the only element in the marketing mix that produces:

Select correct option:

Fixed cost

Expense

Variable cost

Revenue

Which of the following is the basic role of promotion?

Select correct option:

Interpretation

Communication

Manipulation

Information

All of the following are the examples of controllable factorsEXCEPT:

Select correct option:

Line of business

Corporate culture

Overall objectives of organizations

Competition in the market

Which of the following is NOT a type of vertical integration?

Select correct option:

Unbalanced vertical integration

Balanced vertical integration

Forward vertical integration

Backward vertical integration

All of the following are the advantages of IMC EXCEPT:

Select correct option:

Company will have a success factor

Money will be less spent

Results will be achieved easily

Lack of consistency in the message of company

The highest degree of share of mind is known as:

Select correct option:

Identify the type of packaging for ice creams

Select correct option:

Which of the following is an example of indirect selling?

Select correct option:

B2B selling

Door-to-door selling

Face-to-face selling

Telemarketing

An event designed to attract the public's attention to the promoters is known as:

Select correct option:

Increasing the margin

Decreasing the cost

Increasing the cost

Product planners need to think about products and services on three levels Each level

adds more customer value The most basic level is the _, which addresses the

question, “What is the buyer really buying?”

Select correct option:

Augmented product

Actual product

Core benefit

Specialty product

Which of the following can be used to build up long-term image for a product?

Select correct option:

Which of the following is a controllable factor for marketers?

Select correct option:

Competition

Technology

Corporate culture

Economy

Sales decline in the decline stage of the PLC because of technological advances,

increased competition, and _

Select correct option:

Shifts in unemployment

Shifts in the economy

Shifts in consumer tastes and preferences

What is the mutual activity of negotiation and decision making?

Select correct option:

Compromise seeking

Common objective

Conflict between parties

Presence of influence

Which of the following is also called an Export market?

Select correct option:

Identify the strategy that deals with the rate of new product development

Select correct option:

Vertical integration

Horizontal integration

Innovation strategy

Aggressiveness strategy

Which of the following aggressive strategy is without direction?

Select correct option:

Reactor

Analyzer

Defender

Prospector

Which of the following is NOT a part of consumer adoption process?

Select correct option:

Convenience

Trail

Evaluation

Interest

Which of the following offers an incentive to buy a product?

Select correct option:

Select correct option:

How TV commercials can catch the attention of customers?

Select correct option:

Catchy jingles

Humor

Catch-phrases

All of the given options

In which of the following company specifically creates a brand to counter a competitive threat?

Select correct option:

Fighting brand

Co-brand

Family brand

Individual brand

Identify which one of the following is a cash cow

Select correct option:

A product with high growth and high market share

A product with low growth and high market share

A product with low growth and low market share

A product with high growth and low market share

Which of the following is a part of the media that is specially designed to reach a very

large or the whole population of a country?

Select correct option:

Select correct option:

Forth degree discrimination

Third degree discrimination

Second degree discrimination

First degree discrimination

The label on a soft drink can read "cool and refreshing." For what reason are these words used?

Select correct option:

To encourage multiple purchases

To provide information

To promote the product

To satisfy legal requirements

Which of the following is a reduced price marked on the label or package by producer? Select correct option:

Coupon

Price-pack deal

Sample

Cents-off deal

Manufacturers of shampoos often send out free samples of their products with the

magazines This illustrate the use of which of the following element of promotional mix? Select correct option:

Personal selling

Sales promotion

Direct mail

Advertising

The first television commercial aired in:

Select correct option:

1951

1941

1931

1921

Identify the commercialization decision which involves decisions regarding launch of

product in single or multiple localities?

Select correct option:

Why to launch the product?

How to launch the product?

Where to launch the product?

When to launch the product?

Which of the following channel is used for standardized items?

Select correct option:

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

Select correct option:

Select correct option:

Business markets

Global markets

Consumer markets

Government markets

1) Which of the following is a part of the media that is specially designed to

reach a very large or the whole population of a country?

11) How marketing manager can develop strategies for each product using

information from sales force management system?

a) Using communication mix variables

b) Using marketing mix variables

c) Using product mix variables

d) Using promotion mix variables

12) How an increased productivity create competitive advantage?

c) More market growth

d) Successful team selling

14) Identify the type of promotion in which companies use celebrities for

15) Companies are using public relation to support the sales:

a) In short run only

b) In long run only

c) In short and long run

d) None of the given options

16) Which of the following is the combination of institutions through which a

seller markets products to the user?

d) None of the given options

19) What is the intention of vertical marketing for retailers and wholesalers?

a) Reduce cost

b) Reduce channels

c) Reduce control

d) Increase control

20)A vertical marketing system in which independent firms at different levels of

production and distribution join together through contracts to obtain more

economies or sales impact than they could achieve alone is referred as:

a) Corporate VMS

b) Conventional VMS

c) Administered VMS

d) Contractual VMS

Question # 1 of 20 ( Start time: 02:42:31 AM ) Total Marks: 1

The _ is the central instrument for directing and coordinating the marketing effort Select correct option:

• Business plan

• Production plan

• Market plan

• Selling plan

Question # 2 of 20 ( Start time: 02:42:57 AM ) Total Marks: 1

Which of the following type of price discrimination can be seen in any market where

excess capacity

needs to be eliminated?

Select correct option:

• First degree discrimination

• Second degree discrimination

• Third degree discrimination

• Forth degree discrimination

Question # 4 of 20 ( Start time: 02:44:53 AM ) Total Marks: 1

Which of the following is NOT an example of variable cost?

Select correct option:

• Rent of factory

• Raw material

• Power

• Transport

Question # 5 of 20 ( Start time: 02:45:14 AM ) Total Marks: 1

Which of the following offers an incentive to buy a product?

Select correct option:

• Direct mail

• Public relations

Sales promotion

• Advertising

Question # 6 of 20 ( Start time: 02:45:35 AM ) Total Marks: 1

Warehousing facility to channel members is an example of:

Select correct option:

• Seasonal discount

• Trade discount

• Quantity discount

• Cash discount

Question # 7 of 20 ( Start time: 02:46:09 AM ) Total Marks: 1

Aggressive selling is a characteristic of which of the following concept of marketing?

Select correct option:

• Production concept

• Marketing concept

• Selling concept

• Product concept

Question # 8 of 20 ( Start time: 02:46:29 AM ) Total Marks: 1

Which of the following tells about the details of the plan?

Select correct option:

• Title page

• Market analysis

• Marketing strategy

• Executive summary

Question # 9 of 20 ( Start time: 02:46:44 AM ) Total Marks: 1

In which of the following marketing strategy companies develop the brand name, brand image

and product portfolio analysis?

Select correct option:

• Product

• Pricing

• Promotion

• Distribution

Question # 10 of 20 ( Start time: 02:47:08 AM ) Total Marks: 1

Which of the following is the first step in the new product development process?

Select correct option

• Idea generation

• Idea development

• Idea screening

• Idea testing

Question # 11 of 20 ( Start time: 02:47:26 AM ) Total Marks: 1

Which of the following is a type of price discrimination in which price varies according

to quantity sold?

Select correct option:

• Forth degree price discrimination

• Third degree price discrimination

• Second degree price discrimination

• First degree price discrimination

Question # 12 of 20 ( Start time: 02:47:45 AM ) Total Marks: 1

A company is charging different prices to the customers based on the location It is

known as:

Select correct option:

• First degree discrimination

• Second degree discrimination

• Third degree discrimination

• Forth degree discrimination

Question # 13 of 20 ( Start time: 02:48:08 AM ) Total Marks: 1

Which of the following is also known as problem child?

Select correct option:

• Dogs

• Questions marks

• Cash cows

• Stars

Question # 14 of 20 ( Start time: 02:48:32 AM ) Total Marks: 1

Which of the following relating to price is considered as a key element in the marketing mix?

Select correct option:

• The size of the sales force

• The speed of an exchange

• Quality and cost controls (Doud)

• The generation of total revenue

Question # 15 of 20 ( Start time: 02:49:02 AM ) Total Marks: 1

Which of the following is an advantage of sales promotion?

Select correct option:

• Increase sales in long run

• Decreases consumer traffic

• Create awareness about product

• Increase sales in short term

Question # 16 of 20 ( Start time: 02:49:26 AM ) Total Marks: 1

Which of the following is NOT a sales promotion technique?

Select correct option:

• Coupons

• Telephone surveys

• Samples

• Contests

Question # 17 of 20 ( Start time: 02:49:47 AM ) Total Marks: 1

The consumer’s estimate of the product’s overall capacity to satisfy his or her needs is called:

Select correct option:

Question # 18 of 20 ( Start time: 02:50:10 AM ) Total Marks: 1

IMC stands for what?

Select correct option:

• Internal marketing communication

• Integrated marketing communication

• Integrated managing company

• Internal marketing communit

Question # 19 of 20 ( Start time: 02:50:47 AM ) Total Marks: 1

The loyalty marketing focuses on establishing long term relationship between:

Select correct option:

• Company and retailer

• Retailer and customer

• Retailer and consumer

• Company and customer

Question # 20 of 20 ( Start time: 02:51:06 AM ) Total Marks: 1

Idea-reducing stage of new product development process is called:

Select correct option:

• Concept development

• Product concept

• Idea screening

• Idea generation

Question # 1 of 20 ( Start time: 02:53:21 AM ) Total Marks: 1

Which of the following is NOT a purpose of discounts?

Select correct option:

• Increase long term sales

• Reward valuable customers

• Move out-of-date stock

• Increase short-term sales

Question # 2 of 20 ( Start time: 02:53:48 AM ) Total Marks: 1

Which of the following mode of selling is best for Encyclopedia?

Select correct option:

Question # 3 of 20 ( Start time: 02:54:10 AM ) Total Marks: 1

In which of the following marketing strategy companies develop the brand name, brand image and product portfolio analysis?

Select correct option:

Question # 4 of 20 ( Start time: 02:54:26 AM ) Total Marks: 1

The consumer products and services with unique characteristics or brand identification for which

a significant group of buyers is willing to make a special purchase effort are called:

Select correct option:

Question # 5 of 20 ( Start time: 02:54:53 AM ) Total Marks: 1

Which of the following takes place at retailer’s end?

Select correct option:

Question # 6 of 20 ( Start time: 02:55:16 AM ) Total Marks: 1

Which of the following are called value maximizers?

Select correct option:

• Sellers

• Customers

• Marketers

• Manufacturers

Question # 7 of 20 ( Start time: 02:55:39 AM ) Total Marks: 1

Which of the following is an advantage of sales promotion?

Select correct option:

• Increase sales in long run

• Decreases consumer traffic

• Create awareness about product

• Increase sales in short term

Question # 8 of 20 ( Start time: 02:55:57 AM ) Total Marks: 1

Manufacturers of shampoos often send out free samples of their products with the

magazines

This illustrate the use of which of the following element of promotional mix?

Select correct option:

Question # 9 of 20 ( Start time: 02:56:47 AM ) Total Marks: 1

In which of the following companies reduce price for bulk purchases?

Select correct option:

• Seasonal discount

• Trade discount

• Quantity discount

• Cash discount

Question # 10 of 20 ( Start time: 02:57:06 AM ) Total Marks: 1

The first television commercial aired in:

Select correct option:

• 1951

• 1941

• 1931

• 1921

Question # 11 of 20 ( Start time: 02:57:28 AM ) Total Marks: 1

A firm is developing a new product and has placed the advertisement of the product The firm is

at which stage of the new product development process?

Select correct option:

• Commercialization

• Concept development

• Beta testing

• Business Analysis

Question # 12 of 20 ( Start time: 02:57:52 AM ) Total Marks: 1

Which of the following is NOT a part of marketing communication mix?

Select correct option:

Question # 13 of 20 ( Start time: 02:58:18 AM ) Total Marks: 1

Which of the following is a part of the media that is specially designed to reach a very

large or the

whole population of a country?

Select correct option:

• Internet

• Electronic media

• Mass media

• Publicity

Question # 14 of 20 ( Start time: 02:59:04 AM ) Total Marks: 1

Which of the following has the potential to gain market share and become a star?

Select correct option:

• Dog

• Questions mark

• Cash cow

• Star

Question # 15 of 20 ( Start time: 02:59:29 AM ) Total Marks: 1

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

Question # 16 of 20 ( Start time: 03:00:30 AM ) Total Marks: 1

Which of the following is the basic role of promotion?

Select correct option:

• Interpretation

• Communication

• Manipulation

• Information

Question # 17 of 20 ( Start time: 03:01:24 AM ) Total Marks: 1

Which of the following is a strategy of using a successful brand name to launch a new or modified

product in a new category?

Select correct option:

• Line extension

• Co- branding

• Brand extension

• Multibranding

Question # 18 of 20 ( Start time: 03:02:31 AM ) Total Marks: 1

Which of the following is the combination of institutions through which a seller, markets products

to the user?

Select correct option:

• Supply chain management

• Distribution channel

• Marketing logistics

• Inventory management

Question # 19 of 20 ( Start time: 03:02:55 AM ) Total Marks: 1

A company manufactures bags The company incurred costs i.e Rs.500, 000 for rent of the factory,

Rs.20000 for transportation cost, Rs 100, 000 for electricity bill and

Rs 600, 000 for raw material consumed The variable cost for the company is:

Select correct option:

• 500000

• 600000

• 700000

• 720000

Question # 20 of 20 ( Start time: 03:03:50 AM ) Total Marks: 1

Lobbying, or building and maintaining relations with legislators and government officials

to

influence legislation and regulation, is part of _

Select correct option:

• Advertising

• Public relations

• Press agencies

Select correct option:

Forth degree price discrimination

Third degree price discrimination

Second degree price discrimination

First degree price discrimination

Question # 2 of 20 ( Start time: )

Total Marks: 1

Which of the following is an activity of attracting public attention to a product or

business, as by paid announcements in the print, broadcast, or electronic media?

Select correct option:

Which of the following is an example of indirect selling?

Select correct option:

A company designs the product with little or no input from customers, the company is

practicing which of the following concept?

Select correct option:

Which of the following is the price which company receives after accounting for

discounts, allowances, promotions, and other incentives?

Select correct option:

Select correct option:

To encourage multiple purchases

To provide information

To promote the product

To satisfy legal requirements

Question # 7 of 20 ( Start time: )

Total Marks: 1

Cost that vary directly with the level of production are referred to as _.

Select correct option:

Which of the following consists of short-term incentives to encourage the purchase or

sale of a product or service?

Select correct option:

Which of the following is a part of the media that is specially designed to reach a very

large or the whole population of a country?

Select correct option:

Cash cows are SBU's that typically generate:

Select correct option:

Large amounts of cash

A lot of competition

Large awareness levels but few sales

Problems for product managers

Question # 11 of 20 ( Start time: )

Which of the following is NOT an example of fix cost?

Select correct option:

Need becomes when they are directed towards a specific object.

Select correct option:

Non-commercial billboards are used by which of the following?

Select correct option:

Service providing organizations

Non-profit groups and government

Capital goods producing organizations

Consumer goods producing organizations

4

Question # 16 of 20 ( Start time: )

Total Marks: 1

Many companies prefer to follow rather than challenge the:

Select correct option:

A company manufactures bags The company incurred costs i.e Rs.500, 000 for rent of

the factory, Rs.20000 for transportation cost, Rs 100, 000 for electricity bill and Rs 600,

000 for raw material consumed The variable cost for the company is:

Select correct option:

500000

600000

700000

720000

Question # 19 of 20 ( Start time: )

Total Marks: 1

Which one of the following BEST describes the human need?

Select correct option:

Financial summary of a marketing plan includes all EXCEPT:

Select correct option:

Pro-forma income statement

Month-by-month agenda

Breakeven analysis

Assumptions

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

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

a Consumer markets

b Business markets

c Global markets

d Government markets

2 Pictures and specification of product are added in which of the following part of

the marketing plan?

a Financial summary

b Executive summary

c Situation analysis

d Appendix

3 Which of the following is known as a set of marketing tools used by the firm to

pursue its marketing objectives in the target market?

7 Which of the following BEST describes the consumer’s preference for products

that are widely

available to them?

a Production concept

14 Decisions regarding covering area of a product are included in which of the

following marketing strategy of a market plan?

16 Which of the following is NOT a type of vertical integration?

a Backward vertical integration

b Forward vertical integration

c Balanced vertical integration

d Unbalanced vertical integration

17 Financial summary of a marketing plan includes all EXCEPT:

a Assumptions

b Breakeven analysis

c Month-by-month agenda

d Pro-forma income statement

18 In which of the following marketing strategy companies develop the brand

name, brand image and product portfolio analysis?

When a firm attempts to increase sales during the maturity stage of the PLC by

changing one or more marketing mix elements, it is _.

Select correct option:

Improving advertising

Changing promotion

modifying the marketing mix

Increasing promotion budget

Identify the strategy that deals with the rate of new product development.

Select correct option:

Vertical integration

Horizontal integration

Innovation strategy

Aggressiveness strategy

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

1

A secondary-use package can best be defined as which of the following?

Select correct option:

Can be used as a promotional tool

Can be reused for purposes other than its initial use

Facilitates transportation, storage, and handling for middlemen

Is recyclable and environmentally safe

Secondary use packaging:

Secondary use package is one that can be reused for purposes other than its initial

function, for example a margarine container can be reused to store Leftover and a

jelly container can serve as a drinking glass Customers often view secondary _use

packaging as adding value to product In which case its use should stimulate unit

The maturity stage is the most profitable This maturity stage normally lasts longer

than previous stages and it poses strong challenges to the marketing management

Most products are in maturity stage of the life cycle, and therefore most of the

marketing management deals with the mature products

Ref: http://www.docstoc.com/docs/14516989/Product-Life-Cycle

2

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

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

Select correct option:

Consumer markets

Business markets

Global markets

Government markets

A firm is producing standardized products and enjoying the economies of scale by

producing more The firm is following which of the following strategy?

Differentiation strategy

Cost leadership strategy

Market dominance strategy

Market segmentation strategy

Page 20 COST LEADERSHIP STRATEGY

This strategy emphasizes efficiency By producing high volumes of standardized

products, the firm hopes to take advantage of economies of scale and experience

Which of the following firms emphasis on product’s benefits to the customers rather

than on product attributes.

A marketing oriented firm (also called the marketing concept, or consumer focus) is

one that allows the wants and needs of customers and potential customers to drive

all the firm's strategic decisions

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

monitoring customer’s complaint?

Customer complaints database

Exit interviews

Web and telephone information hotlines

Products that are usually purchased due to adversity rather than desire For example,

coffins, crutches, and medicine are all unsought goods Another form of unsought

goods is products such as life insurance and encyclopedias They are products that

the consumer seldom goes out looking for; therefore, a constant, aggressive selling

A secondary-use package can best be defined as which of the following?

Select correct option:

Can be used as a promotional tool

Can be reused for purposes other than its initial use

Facilitates transportation, storage, and handling for middlemen

Is recyclable and environmentally safe

Price is the only element in the marketing mix that produces:

In the product adoption process, the consumer is stimulated to seek information

about the innovation at which of the following stage?

Interest

Trial

Which of the following occurs when a company sells a product or service at two or

more prices that do not reflect the promotional difference in cost?

Select correct option:

Variation pricing

Price discrimination

Differentiation price

Promotional pricing

Which of the following is showing normal profit for the company?

Select correct option:

First degree discrimination

Second degree discrimination

Third degree discrimination

Forth degree discrimination

Third degree discrimination

7

These types are not mutually exclusive Thus a company may vary pricing by

location, but then offer bulk discounts as well Airlines use several different types of

price discrimination, including:

Identify the products that the customer usually buys frequently and with a minimum

of comparison and buying effort.

Select correct option:

Specialty

Convenience

Unsought

Augmented

Which of the following is NOT a type of vertical integration?

Unbalanced vertical integration

Balanced vertical integration

Forward vertical integration

Backward vertical integration

Which of the following is a type of price discrimination in which price varies

according to quantity sold?

Forth degree price discrimination

Third degree price discrimination

Second degree price discrimination

First degree price discrimination

In second degree price discrimination, price varies according to quantity sold

Which of the following is NOT included in product decisions?

Styling

Brand name

Warehousing

Premium Pricing (also called prestige pricing)

Which of the following is used to test the customer preference about the new

Additional cost is associated with which of the following strategy?

Market segmentation strategy

Market dominance strategy

Differentiation strategy

Cost leadership strategy

Page 20 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 Because customers see the product as unrivaled and unequaled, the

price elasticity of demand tends to be reduced and customers tend to be more brands

loyal This can provide considerable insulation from competition However there

are usually additional costs associated with the differentiating product features and

this could require a premium pricing strategy

The decisions regarding bundling of a product are related to:

Select correct option:

Page 13 Price Decisions

Some examples of pricing decisions to be made include:

• Pricing strategy (skim, penetration, etc.)

• Suggested retail price

Production concept

Marketing concept

Selling concept

Product concept

Page 8 THE SELLING CONCEPT

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 etc

Which of the following is NOT included in business analysis?

Select correct option:

Management analysis

Cost analysis

Sales forecast

Profit analysis

Page 27 • Business Analysis

o estimate likely selling price

o estimate sales volume

o estimate profitability and breakeven point

Page 15 Price Penetration is most appropriate when:

• Product demand is highly price elastic

• Substantial economies of scale are available

• The product is suitable for a mass market (sufficient demand)

• The product will face stiff competition soon after introduction

Relationship marketing is also known as:

Brand marketing

Value marketing

Loyalty marketing

Experiential marketing

Marketing focuses on establish and building long term relationship between the

company and customer We also call it loyalty marketing

Core competency guides a firm recombining its abilities in response to demands

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

these, that identifies that maker or seller of a product or service?

Label

Co-brand

Brand

Product

Rs.10 per unit for less than 100 units and Rs.9 per unit for 100 or more units is an

Page 26 5 Decline stage

• Costs become counter-optimal

• Sales volume decline

• Prices, profitability diminish

At which of the following stage of consumer adoption process the consumer decides

whether to use the product or not?

The marketing plan should open with a brief summary of the main goals and

recommendations This is called: