Multiple Choice Questions
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.
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
