Question No: 1 ( Marks: 1 ) - Please choose one
A social and managerial process by which individuals and organizations obtain what they need and want through value creation refers to which one of the following concepts?
► Selling
► Advertising
► Barter
► Marketing
Question No: 2 ( Marks: 1 ) - Please choose one
Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to which of the following options?
► Customer perceived value
► Marketing myopia
► Customer relationship management
► Customer satisfaction
Question No: 3 ( Marks: 1 ) - Please choose one
Which one of the following options refers to “The art and science of choosing target markets and building profitable relationships”?
► Customer relationship management
► Knowledge management
► Total quality management
► Marketing management
Question No: 4 ( 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: 5 ( Marks: 1 ) - Please choose one
Which one of the following options enables consumers and companies to access and share huge amounts of information with just a few mouse clicks?
► Digital age
► Internet
► Extranet
► WWW
Question No: 6 ( 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: 7 ( Marks: 1 ) - Please choose one
What are we going to do? And, how are we going to do? In which of the following categories these two questions fall?
► Researching
► Planning
► Controlling
► Managing
Question No: 8 ( Marks: 1 ) - Please choose one
Some banks have increased their market share by offering accounts especially for children in another city. This example illustrates which of the following growth strategies?
► Market penetration
► Market development
► Horizontal diversification
► Conglomerate diversification
Question No: 9 ( Marks: 1 ) - Please choose one
The strategic marketing process is how an organization allocates its marketing mix resources to reach its:
► Stated business idea
► Target market
► Competition
► Area of expertise
Question No: 10 ( 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: 11 ( Marks: 1 ) - Please choose one
Agencies that buy goods and services in order to produce public services or transfer them to those that need them reflect which of the following markets?
► Reseller markets
► Government markets
► International markets
► Business markets
Question No: 12 ( Marks: 1 ) - Please choose one
Which one of the following environment is made up of institutions and other forces affecting society’s basic values, perceptions, preferences and behaviors?
► Cultural environment
► Fictitious environment
► Natural environment
► Political environment
Question No: 13 ( Marks: 1 ) - Please choose one
Your marketing department is attempting to improve strategic decision making, assess and track competitors’ actions and provide early warning of opportunities and threats. For this purpose which of the following will be used by your department?
► Internal databases
► External databases
► Marketing intelligence
► Company reports only
Question No: 14 ( Marks: 1 ) - Please choose one
Harvard University is using the systematic design, collection, analysis, and reporting of data relevant to marketing its programs to minority students. What do we call this?
► Promotion
► Self-study
► Marketing research
► Cost-benefit analysis
Question No: 15 ( Marks: 1 ) - Please choose one
Which one of the following scheme is TRUE regarding marketing research in sequence?
► Gathering data, analysis, interpretation
► Analysis, gathering data, interpretation
► Interpretation, gathering data, analysis
► Interpretation, reporting, analysis
Question No: 16 ( Marks: 1 ) - Please choose one
The objective of which of the following research is to gather preliminary information that will help define the problem and suggest hypotheses?
► Descriptive
► Exploratory
► Causal
► Corrective
Question No: 17 ( Marks: 1 ) - Please choose one
If Unilever needs to survey retailer’s attitudes on the availability of product literature in athletic shoe shops and needs the results within four working days, Unilever will probably use what kind of survey?
► A mail
► A telephone
► Computer interviewing
► A personal interview
Question No: 18 ( 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: 19 ( Marks: 1 ) - Please choose one
Which of the following is NOT a primary motivation?
► Achievement
► Self-esteem
► Self-expression
► Attitude
Question No: 20 ( Marks: 1 ) - Please choose one
You purchase cleaning supplies for your custodial help regularly. It is showing which buying situation?
► Modified rebuy
► Straight rebuy
► Modified straight rebuy
► Consumer buy
Question No: 21 ( Marks: 1 ) - Please choose one
Which of the following demands that business markets have more?
► Derived demands
► Steady demands
► Fluctuating
► Competitive
Question No: 22 ( Marks: 1 ) - Please choose one
When a company identifies the parts of the market it can serve best and most profitably. Which one of the following factor is in the practice of a company?
► Concentrated marketing
► Mass marketing
► Targeted marketing
► Market segmentation
Question No: 23 ( Marks: 1 ) - Please choose one
Mr. ABC and his staff have decided to use target marketing to reach their sales goals. Which are their three steps (in order) to target marketing?
► Market segmentation, market positioning and target marketing
► Market segmentation, target marketing and market positioning
► Market alignment, market segmentation and market positioning
► Market recognition, market preference and market insistence
Question No: 24 ( 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: 25 ( 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: 26 ( Marks: 1 ) - Please choose one
With concentrated marketing, the marketer goes after a _____ share of _____.
► Small; a small market
► Small; a large market
► Large; one or a few niches
► Large; the mass market
Question No: 27 ( 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: 28 ( Marks: 1 ) - Please choose one
Most manufactured materials and parts are sold directly to which of the following categories?
► Consumers
► Industrial users
► Co-branders
► Wholesalers
Question No: 29 ( 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: 30 ( Marks: 1 ) - Please choose one
If BATA Company Ltd. has slow sales growth, profits are nonexistence and there are heavy expenses incurred. Which of the following stage is being faced by the BATA?
► Introduction
► Growth
► Maturity
► Decline
Question No: 31 ( Marks: 1 ) - Please choose one
A period of rapid market acceptance and increasing profits refers to which of the following stages of the product life cycle?
► Decline
► Growth
► Maturity
► Introduction
Question No: 32 ( Marks: 1 ) - Please choose one
A threat is a major unfavorable situation in a firm’s environment. Threats are key impediments to the firm’s current or desired position. Which one of the following represents threat to a firm’s success?
► Relaxation of international tariffs
► The entrance of new competitors in the market
► Undifferentiated products or services
► Cost advantages present because of advanced technology
Question No: 33 ( Marks: 1 ) - Please choose one
Fast-food restaurants offer tasty and convenient food at affordable prices; they contribute to fatness that harms consumer health. Which one of the following concepts is NOT being followed by this company?
► Product concept
► Production concept
► Societal marketing concept
► Marketing concept
Question No: 34 ( Marks: 1 ) - Please choose one
Press releases provided by public listed companies help to meet the needs of which of the following publics?
► Local
► Financial
► Citizen-action
► Media
Question No: 35 ( Marks: 1 ) - Please choose one
Which of the following environment consists of the factors that affect consumer purchasing power and spending patterns?
► Demographic environment
► Cultural environment
► Economic environment
► Consumer environment
Question No: 36 ( Marks: 1 ) - Please choose one
Which one of the following are the MOST useful source of speedier and more comprehensive information?
► Suppliers
► Key customers
► Company reports
► Sales force
Question No: 37 ( Marks: 1 ) - Please choose one
Which one of the following steps in the marketing research process deals in "defining the problems and research objectives, implementing the research plan, and interpreting and reporting the findings"?
► Developing the research budget
► Choosing the research agency
► Choosing the research method
► Developing the research plan
Question No: 38 ( Marks: 1 ) - Please choose one
ABC Company wants to learn about consumer attitudes toward mail order purchases and conducts a study to acquire this information. Which one of the following data would BEST be classified for this study?
► Causal
► Experimental
► Primary
► Secondary
Question No: 39 ( Marks: 1 ) - Please choose one
Which one of the following characteristics is NOT a requirement for effective segmentation?
► Differential
► Achievable
► Accessible
► Measurable
Question No: 40 ( Marks: 1 ) - Please choose one
Business markets can be segmented on the basis of all of the following variables EXCEPT:
► Personal characteristics
► Operating variables
► Selling approaches
► Situational factors
Question No: 41 ( Marks: 10 )
Discuss how the digital age is affecting the way businesses bring value to their customers in the market and which are those tools that are used for making connections with customers, strategic partners and suppliers?
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