Multiple Choice Questions

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The literary meaning of the term product is ______________.

Good

Maximizing the market share is the objective of company in ______________ stage of product life cycle.

Growth

Rising promotion costs and shrinking profit margins are the result of ______________.

Heightened competition.

Premium pricing is also termed as__________.

High Pricing

The process of moving the raw materials from the place of the suppliers to the place of the producers is known as ______________.

Inbound logistics

When the advertisement is to create an image or reputation of the firm, it is called ______________ advertising.

Institutional

A banking product is an example for ______________.

Intangible product.

______________ is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products.

Integrated marketing communications

The strategy of using as many outlets as possible is called ______________.

Intensive distribution.

the stage is the product life cycle that focuses on expanding market and creating product awareness and trial is the:

Introduction stage.

The use of price points for reference to different levels of quality for a company's related products is typical of which product-mix pricing strategy?

Product line pricing

The four Ps are characterised as being ______________.

Product, place, price and promotion.

the ______________ holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency).

Production concept

Which of the following statement is true regarding break-even point:

The profit at break-even point is 0

Which of the following is typically NOT a result of recognizing the importance of ethnic groups by marketers?

Use of an undifferentiated one-size-fits-all marketing strategy

A united distribution channel is known as ______________.

VMS (Vertical Marketing System)

When producers, wholesalers, and retailers act as a unified system, they comprise a ______________

Vertical marketing system

The technique of using the social network on the internet to create the brand image is called as ______________.

Viral marketing

Which of the following is the largest retail enterprise in the world.

Wal-Mart.

Which of the following reflects the marketing concept philosophy

We won't have a marketing department, we have a customer department

Marketing philosophy summarized by the phrase "a good product will sell itself" is characteristic of the ______________ period.

production

Newsletters, catalogues, and invitations to organization-sponsored events are most closely associated with the marketing mix activity of---

promotion

Marketing is a ______________ process.

All of these

the term "marketing mix" describes:

A blending of four strategic elements to satisfy specific target markets

The term 'marketing' refers to:

A philosophy that stresses customer value and satisfaction

Marketing is a process of converting the potential customers into ______________ consumers.

Actual

The word positioning was coined by

All Ryes and Jack Trout.

Today's marketers need ______________

Both creativity and critical thinking skills

The marketing outcomes of a product is known as ______________.

Brand Equity

_____________ means giving a name to the product by which it should become known and familiar among the public.

Branding

Marketing is a ______________ function transferring goods from producers to consumers.

Commercial

Marketing is a ______________ function of transferring goods from producers to consumers.

Commercial.

Brand loyalty indicates customer's ______________ towards the brand.

Commitment.

_____________ is the process whereby individuals decide what ,where ,how and from whom to purchase goods and services.

Consumer behaviour.

The aim of relationship marketing is ______________ delight.

Customer

______________ can be achieved only when all personal within the organization understand the importance of the customer.

Customer satisfaction.

The four Cs are ______________.

Customer solution, cost, convenience and communication.

Identify the incorrect statement about multiple channels:

Customers usually use only one channel for all transactions even if multiple channels are offered

Tele- marketing is a part of ______________.

Direct marketing.

Segmentation is the process of:

Dividing the market into homogenous groups

Internet advertising includes web advertising, ______________ etc.

E-mail

Which of the following is not part of demographic segmentation?

Education

When a consumer decides to buy without much logical thinking, his decision is said to be ______________

Emotional

______________ is a process that conceals meaning by changing messages into unintelligible messages.

Encryption

_____________ is a process of transforming information and experience into knowledge.

Learning

Selecting the segments of a population of customers to serve is called ______________.

Market segmentation.

Which of the following statements is correct?

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

A firm identifies the target market, needs and wants of customers through

Marketing research

During the ______________ stage of PLC the sales grow at diminishing rates and project starts declining.

Maturity

Department stores generally serves ______________ class.

Middle

Market expansion is usually achieved by: More effective use of distribution More effective use of advertising By cutting prices All of the above are suitable tactics

More effective use of distribution, More effective use of advertising, By cutting prices

Early adopters of which opinion leaders are largely comprised of and tend to be ______________

More likely to buy new products before their friends do and voice their opinions about them

_____________ is a process of identifying the areas of market that are different from one another.

Targeting

An imbalance between a consumer's actual and desired state in which recognition that a gap or problem needs resolving is called ______________

Motive development

The concept of marketing mix was developed by ______________.

N.M. Borden.

Diversification is best described as which of the following?

New products for new markets

______________ marketing means serving a small market not served by competitions.

Niche

The flow of goods from production to consumption is known as ______________.

Outbound logistics

Political campaigns are generally examples of which of the following

Person marketing

_____________ is called printed salesmanship.

Personal selling

Ensuring the availability of the products and services as and when required by the customers is ______________ utility.

Place

_____________ is the act of designing the company's offering and image to occupy a distinctive place in the target market's mind.

Positioning

When a firm sets a very low price for one or more of its products with a view to drive its competitors out of market is known as ______________.

Predatory pricing.

_____________ can be produced and marketed as a product.

Properties

Which of the following is not a characteristic of service marketing:

Reparability.

A ______________ operates multiple retail outlets under common ownership in different cities and towns.

Retail chains.

In selling concept, maximization of project of the firm is done through ______________.

Sales volume

Marketing is a process which aims at ______________.

Satisfaction of customer needs

_____________ is the results of artificial scarcity of products created by a firm.

Selective de-marketing

Direct marketing refers to a communication between the ______________ and ______________ directly.

Seller and the buyer.

What is price skimming?

Setting a high price which consumers perceive as indicating high quality

Green marketing is a part of ______________.

Social marketing

When companies make marketing decisions by considering consumers' wants and the long-run interests of the company, consumer, and the general population, they are practicing which of the following principles?

Societal marketing

______________ is the process of identifying specific market segments.

Target marketing.

Inside sale is known as ______________.

Tele-marketing.

Demographic segmentation refers to

The description of the people and the place in society

Which of the following is a strategic marketing planning tool?

The market share/market growth (BCG) matrix

The process of adding a higher priced prestigious, product to the existing line of lower priced products is known as ______________.

Trading Up

Augmented product contains ______________.

additional benefits

______________ is a strategy of using a successful brand name to launch a new or modified product in a new category.

brand extension

The emotional attachment of a customer towards a brand is known as ______________.

brand loyalty

_____________ is referred to as segmentation

differentiated marketing

Marketing channel that involves no intermediaries to made their products available to final buyers is classified as

direct channel

The ______________ function of marketing makes the products available in different geographic regions.

distribution

The marketing strategy of developing new products and selling them in new markets is referred to as

diversification

Good marketing is no accident, but a result of careful planning and _____________.

execution

Logistics means ______________.

flow of goods

Being ______________ one cannot taste, touch, see, hear, smell or use services like physical products;

intangible

Typically profit is negative in which stage of the product life cycle?

introduction

Assume you are in charge of the politically-mandated process of converting the economy of a developing African nation from state-controlled to market-driven business ventures. Your ability to control------ will most likely determine the future success of the country and its government.

marketing

Which objectives are often the most suitable when firms operate in a market dominated by a major competitor and where their financial resources are limited:

niche

_____________ motives are those which determine where or from whom products are purchased.

patronage

______________ is the practice of charging a low price right down from the beginning to stimulate the growth of the market.

penetration

_____________ price refers to the high initial price charged when a new product is introduced in the market.

premium

in ______________ segmentation , buyers are divided into different groups on the basis of life style or personality and values

psychographic

Groups that have a direct or indirect influence on a persons attitudes or behavior is known as ______________

reference groups

The traditional view of marketing is that the firm makes something and then ______________ it.

sells

Which of the following is not included in the function of physical supply:

standardization

Logistics management is a part of ______________.

supply chain management

Which of the following is NOT an element of the marketing mix?

target market


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