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Question No: 1 ( Marks: 1 ) - Please choose one

A market leader firm can expand the total market through:

► Decreasing distribution of the product

► Introducing the new usage of the product

► Eliminating some features of product

► Increasing cost

Question No: 2 ( Marks: 1 ) - Please choose one

The strategy which involves creating a product that is perceived as unique and should provide superior value for the customer is called:

► Market segmentation strategy

► Market dominance strategy

► Differentiation strategy

► Cost leadership strategy

Question No: 3 ( Marks: 1 ) - Please choose one

Life insurance is an example of which of the following goods?

► Convenience

► Expected

► Shopping

► Unsought

Question No: 4 ( Marks: 1 ) - Please choose one

Aggressive pricing is associated with which of the following stage of product life cycle?

► Introduction

► Growth

► Maturity

► Decline

Question No: 5 ( Marks: 1 ) - Please choose one

Which of the following is NOT a common reason of decline in the product sales?

► Consumer tastes change

► Competition increases

► Technology advances

► Increase in product demand

Question No: 6 ( Marks: 1 ) - Please choose one

New product development process starts with which of the following stages?

► Idea development

► Idea screening

► Research

► Idea generation

Question No: 7 ( Marks: 1 ) - Please choose one

Which of the following step involves determining the Compatibility of product idea with company objectives, needs, and resources on a general level?

► Business analysis

► Idea generation

► Idea screening

► Product development

Question No: 8 ( Marks: 1 ) - Please choose one

Which come(s) under the category of new product?

► New product lines

► Product improvements

► Cost reductions

► All of the given options

Question No: 9 ( Marks: 1 ) - Please choose one

Which of the following is the degree to which new product matches the values and experiences of the individuals in the community?

► Innovation communicability

► Innovation divisibility

► Innovation compatibility

► Innovation complexity

Question No: 10 ( Marks: 1 ) - Please choose one

Which of the following is less likely to damage reputations of a brand if a new product fails?

► Brand extension branding

► Individual branding

► Overall family branding

► Line family branding

Question No: 11 ( Marks: 1 ) - Please choose one

Packaging used for the ice creams is an example of which of the following?

► Decorative packaging

► Transport packaging

► Secondary packaging

► Primary packaging

Question No: 12 ( Marks: 1 ) - Please choose one

Which of the following is also known as dual branding?

► Private brand

► Multibrand

► Co-brand

► New brand

Question No: 13 ( Marks: 1 ) - Please choose one

When two or more well known brands are combined in an offer it is called:

► Private brand

► Multibrands

► Co-brand

► New brand

Question No: 14 ( Marks: 1 ) - Please choose one

A company has different choices when it comes to developing brands. Which is not one of those choices?

► Width and depth extension

► Multibrands

► Brand extension

► Line extension

Question No: 15 ( Marks: 1 ) - Please choose one

Which of the following is a brand created and owned by a larg retailer of a product after purchasing in large quantity from manufacturer?

► Co-brand

► Private brand

► Manufacturer's brand

► Licensed brand

Question No: 16 ( Marks: 1 ) - Please choose one

Tarang milk is an example of which of the following?

► Corporate brand

► Co-brand

► Individual brand

► Family brand

Question No: 17 ( Marks: 1 ) - Please choose one

Which of the following marketing mix element generates revenue?

► Promotion

► Price

► Place

► Product

Question No: 18 ( Marks: 1 ) - Please choose one

Which of the following sets floor for the price that company can charge for its product?

► Demand

► Premium

► Promotion

► Cost

Question No: 19 ( Marks: 1 ) - Please choose one

Which of the following is price reduction offered when an order is placed in slack/drooping period?

► Cash discount

► Trade discount

► Quantity discount

► Seasonal discount

Question No: 20 ( Marks: 1 ) - Please choose one

Identify the other term used for the trade discounts.

► Promotional discount

► Functional discount

► Quantity discount

► Seasonal discount

Question No: 21 ( Marks: 1 ) - Please choose one

3/10 net 30 is an example of which of the following?

► Seasonal discount

► Trade discount

► Quantity discount

► Cash discount

Question No: 22 ( Marks: 1 ) - Please choose one

The buyer at ABC Furniture Store is informed that if he/she will increase his/her recent order of fifteen mattress sets to twenty, she will receive a 14 percent price reduction. This offer is due to a recent overstock condition at the factory and will not be available in the future. What is the type of discount offered by ABC Furniture store?

► Trade

► Seasonal

► Non-cumulative

► Promotional

Question No: 23 ( Marks: 1 ) - Please choose one

Which of the following best describes 3/10 net 40 ROG?

► The buyer must pay within 10 days of receipt of goods but will receive 3% discount if paid in 10 days

► The buyer must pay within 3 days of receipt of goods but will receive 10% discount if paid in 40 days

► The buyer must pay within 10 days of receipt of goods but will receive 3% discount if paid in 40 days

► The buyer must pay within 40 days of receipt of goods but will receive 3% discount if paid in 10 days

Question No: 24 ( Marks: 1 ) - Please choose one

A company is providing warehousing facility to its channel members. The company is using which of the following?

► Seasonal discount

► Trade discount

► Quantity discount

► Cash discount

Question No: 25 ( Marks: 1 ) - Please choose one

Market-penetration pricing will likely to be used most in selling which of the following items?

► Specialty

► Convenience

► Unsought

► Pharmaceuticals

Question No: 26 ( Marks: 1 ) - Please choose one

The price of which of the following is lower than the cost and is used to drag customers into a store where they are likely to buy other products.

► Consumer promotion

► Discounted product

► On-sale item

► Loss leader

Question No: 27 ( Marks: 1 ) - Please choose one

To attract customers into stores, the store advertises its milk at a price less than cost, hoping that customers will purchase other groceries as well. Milk is acting as which of the following?

► Premium item

► On- sale item

► Discounted item

► Loss leader

Question No: 28 ( Marks: 1 ) - Please choose one

Many companies try to set a price that will maximize current profit. This strategy assumes that company has knowledge of its:

► Cost and production function

► Revenue and cost function

► Demand and market function

► Demand and cost function

Question No: 29 ( Marks: 1 ) - Please choose one

Which of the following markets require developing a superior product and packaging along with continuous advertising?

► Consumer markets

► Business markets

► Global markets

► Non profit/government markets

Question No: 30 ( Marks: 1 ) - Please choose one

A lot of time is required in establishing great brand image to be successful in:

► Global Product marketing

► Consumer Product marketing

► Governmental marketing

► Domestic product marketing

Question No: 31 ( Marks: 1 ) - Please choose one

Which of the following 4Ps of marketing mix involves in decisions regarding channels coverage, assortments, locations, inventories or transports?

► Product

► Price

► Place

► Promotion

Question No: 32 ( Marks: 1 ) - Please choose one

The Cargo business covers which of the following decisions under the marketing mix strategy?

► Product

► Price

► Placement

► Promotional

Question No: 33 ( Marks: 1 ) - Please choose one

Customer cost will be considered as which of the following Ps of marketing mix?

► Product

► Price

► Place

► Promotion

Question No: 34 ( Marks: 1 ) - Please choose one

Which of the following is about managing strategically the customer’s entire experience with the product and company?

► Customer experience management

► Customer retention management

► Customer life-time value management

► Customer relationship management

Question No: 35 ( Marks: 1 ) - Please choose one

The loyalty marketing focuses on establishing long term relationship between:

► Company and retailer

► Retailer and customer

► Retailer and consumer

► Company and customer

Question No: 36 ( Marks: 1 ) - Please choose one

When need is directed towards a specific object it is called:

► Actual need

► Want

► Demand

► Satisfaction

Question No: 37 ( Marks: 1 ) - Please choose one

All are the expression of marketing concept EXPECT:

► Meeting needs profitably

► Find wants and fill them

► Sell what is produced

► Love the customer, not the product

Question No: 38 ( Marks: 1 ) - Please choose one

Order processing decisions are related to which of the following?

► Product

► Price

► Distribution

► Promotion

Question No: 39 ( Marks: 1 ) - Please choose one

Which of the following is NOT an aggressiveness strategy?

► Harvesting

► Building

► Intensification

► Holding

Question No: 40 ( Marks: 1 ) - Please choose one

Which of the following is NOT a type of innovation strategy?

► Pioneers

► Challengers

► Close followers

► Late followers

Question No: 41 ( Marks: 10 )

Each stage of product life cycle calls for different marketing strategy. Discuss.

Question No: 1 ( Marks: 1 ) - Please choose one

Which one of the following phrases reflects the marketing concept?

► The supplier is a king in the market

► Marketing should be viewed as hunting not gardening

► This is what I make, won’t you please buy it?

► This is what I want, won’t you please make it?

Question No: 2 ( Marks: 1 ) - Please choose one

If a local company wants to adopt the marketing concept. To be consistent with this move, it should adopt which of the following philosophies?

► Focusing on today is important for us

► Making money is our business

► The customer is always right

► Keeping prices low is our objective

Question No: 3 ( Marks: 1 ) - Please choose one

Which one of the following options is best to explain the purpose of intranets?

► Buying and selling processes

► Business-to-business purchasing

► Communication among employees

► Maintaining customer relations

Question No: 4 ( Marks: 1 ) - Please choose one

All of the following are accurate descriptions of a company’s mission statement, EXCEPT which one?

► Mission statement should fit the market environment

► Mission statement should be realistic

► Mission statement should be broad

► Mission statement should be motivating

Question No: 5 ( Marks: 1 ) - Please choose one

Which of the following sets refers to the order or sequence of marketing management functions?

► Control – implementation – market planning

► Market planning – control – implementation

► Implementation – control – market planning

► Marketing planning – implementation - control

Question No: 6 ( Marks: 1 ) - Please choose one

Advertising agencies are an example of which of the following marketing intermediaries?

► Insurance company

► Financial intermediary

► Marketing services agency

► Physical distribution firm

Question No: 7 ( Marks: 1 ) - Please choose one

"How people feel about corporations, government agencies, trade unions and universities" refers to which of the following views?

► People's view of others

► People's view of societies

► People's view of themselves

► People's view of organizations

Question No: 8 ( Marks: 1 ) - Please choose one

Which one of the following is NOT a part of the macro-environment?

► Demographic forces

► Natural forces

► Competitors' forces

► Political forces

Question No: 9 ( Marks: 1 ) - Please choose one

Marketing information from which of the following databases can be accessed more quickly and cheaply?

► External

► Internal & External

► Internal

► Representatives

Question No: 10 ( Marks: 1 ) - Please choose one

Gathering secondary information is one of the steps of developing the research plan. What does the meaning of secondary information in marketing research?

► That does not currently exist in an organized form

► That already exists somewhere, having been collected for another purpose

► That the researcher can obtain through surveys and observation

► That already exists somewhere in an organized form

Question No: 11 ( Marks: 1 ) - Please choose one

Survey research, called the backbone of primary research, is the most widely used method for primary data collection and is best suited for gathering which of the following information?

► Personal

► Attitude

► Descriptive

► Exploratory

Question No: 12 ( Marks: 1 ) - Please choose one

If ABC Ltd knows that its market share in Pakistan has dropped 13 percent in the first quarter of the year but does not know what might have contributed to this decline, it is in which stage of the marketing research process?

► Hypothesis development

► Symptom identification

► Problem identification

► Data interpretation

Question No: 13 ( Marks: 1 ) - Please choose one

Which one of the following factor is NOT used for measuring the social class?

► Income

► Number of children in family

► Occupation

► Education

Question No: 14 ( Marks: 1 ) - Please choose one

Which one of the following three-step process represents “Perception”?

► Motivation, personality and attitudes

► Collecting, eliminating and organizing information inputs

► Receiving, organizing and interpreting information inputs

► Anticipating, classifying and discarding information inputs

Question No: 15 ( Marks: 1 ) - Please choose one

Person’s pattern of living as expressed in his or her psychographics represents which one of the following concept?

► Personality

► Culture

► Lifestyle

► Motive

Question No: 16 ( Marks: 1 ) - Please choose one

Which one of the following option represents the collection of data for the purpose of applying appropriate actions at a subsequent time?

► Lifestyle

► Learning

► Perception

► Attitude

Question No: 17 ( Marks: 1 ) - Please choose one

Which one of the following is NOT the stage that customers go through in the process of adopting a new product?

► Awareness

► Interest

► Evaluation

► Culture

Question No: 18 ( Marks: 1 ) - Please choose one

After deciding to order replacement parts for ageing machinery, the buyer for a construction company examines catalogues and trade publications. The buyer is probably at which stage of the organizational buying decision process?

► Problem recognition

► Product specification

► Product-supplier search

► Product evaluation

Question No: 19 ( Marks: 1 ) - Please choose one

Demographic segmentation divides the market into groups based on which of the following variables?

► Size, location, industry, customer

► Size, company, industry, technology

► Location, size, occupation, race

► Customer, technology, company, industry

Question No: 20 ( Marks: 1 ) - Please choose one

Which of the following factors are often used for segmenting customer groups?

► Geographic factors

► Psychographic factors

► Behavioral factors

► Demographic factors

Question No: 21 ( Marks: 1 ) - Please choose one

A marketer has brought same products in the market for all segments without considering the needs and wants of the customers. Which one of the following strategy is being practiced by the marketer?

► Undifferentiated marketing strategy

► Differentiated marketing strategy

► Concentrated marketing strategy

► Custom marketing strategy

Question No: 22 ( Marks: 1 ) - Please choose one

Buyer- seller similarities is an attribute comes under which one of the following concepts?

► Demographic factors

► Personal characteristics

► Situational factors

► Operating variables

Question No: 23 ( Marks: 1 ) - Please choose one

Which of the following are those products purchased for further processing or for use in conducting a business?

► Unsought products

► Specialty products

► Shopping products

► Industrial products

Question No: 24 ( Marks: 1 ) - Please choose one

Which one of the following categories refers to a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges?

► Product line

► Line extension

► Private brand

► Product bandwidth

Question No: 25 ( Marks: 1 ) - Please choose one

After concept testing, a firm would engage in which stage for developing and marketing a new product?

► Marketing strategy development

► Business analysis

► Product development

► Test marketing

Question No: 26 ( Marks: 1 ) - Please choose one

A review of the sales, costs and profit projections for a new product to find out whether they satisfy the company’s objectives refers to which one of the following concepts?

► Business feasibility

► Feasibility study

► Business analysis

► Product acceptance

Question No: 27 ( Marks: 1 ) - Please choose one

In which of the following product life cycle stages, sales are zero and the company’s investment costs mount?

► Product development

► Introduction

► Growth

► Maturity

Question No: 28 ( Marks: 1 ) - Please choose one

In which one of the following stages of the product life cycle sales fall off and profits stop?

► Growth

► Introduction

► Decline

► Maturity

Question No: 29 ( Marks: 1 ) - Please choose one

McDonald's run advertisement featuring children, senior citizens and minority groups. What does this ad show?

► Company is product oriented

► Company considers only environmental factors

► Company has several target markets

► Company is market oriented