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 Upto 1000 Solved MCQs of MKT501 http://www.vustudents.net 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 Upto 1000 Solved MCQs of MKT501 http://www.vustudents.net 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 attacks? Select correct option: Challengers Leaders Followers Nichers 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 marketing plan? Select correct option: Financial summary Executive summary Situation analysis Appendix 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 Upto 1000 Solved MCQs of MKT501 http://www.vustudents.net 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: Drawing attention Marketing communication Publicity Sales promotion Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers? Select correct option: Introduction Growth Maturity Decline Which of the following is usually the target of a market challenger? Select correct option: Market nicher Market leader Market follower Market segment Which of the following gives the exact position of a company’s product with respect to market? Select correct option: Market analysis Consumer analysis Macro analysis Micro analysis Which of the following is NOT a media of advertising? Select correct option: Direct selling Newspaper Radio Television While considering the place for a product which of the following is important for customer. Select correct option: Communication Upto 1000 Solved MCQs of MKT501 http://www.vustudents.net Convenience cost Which of the following is NOT an external source of idea generation? Select correct option: Top management Competitors Suppliers Customers When any customer does not fully likes the product or talks in favor of the product, it is known as: Select correct option: Bad – mouth Word of mouth Bad impression Unfavorable products 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: Brand Container Labeling Packaging 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 Charging more for a soft drink in a vending machine than in a supermarket is known as: Select correct option: Cost-oriented pricing Upto 1000 Solved MCQs of MKT501 http://www.vustudents.net 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: Introduction Growth Maturity Decline 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: Industrial products Specialty products Unsought products Shopping products Retailers are considered under which of the following environment? Select correct option: Broad Weak Task Competitive Which of the following is the task of selecting an overall company strategy for long-run survival and growth? Select correct option: Mid-term planning Short-term planning Annual market planning Strategic market planning The purchase of which of the following items is least likely to be affected by demographic factors? Select correct option: Car Furniture Computer Sugar In BCG matrix, products with low market share and low market growth are referred to as: Select correct option: Dogs Question marks Cash cows Upto 1000 Solved MCQs of MKT501 http://www.vustudents.net Stars Which of the following is NOT a function performed by a public relations department? Select correct option: Public regulations Public affairs Lobbying Product publicity 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 Upto 1000 Solved MCQs of MKT501 http://www.vustudents.net Executive summary Situation analysis Appendix Which of the following is Not a component of a marketing plan? Select correct option: Marketing advantages Environmental analysis Executive summary Marketing implementation 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 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: Upto 1000 Solved MCQs of MKT501 http://www.vustudents.net 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: Upto 1000 Solved MCQs of MKT501 http://www.vustudents.net Rent of factory Raw material Power Transport In the _____, the firm faces a trade-off between high market share and high current profit. Select correct option: Introduction stage Growth stage Maturity stage Decline stage 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 Upto 1000 Solved MCQs of MKT501 http://www.vustudents.net [...]... 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 http://www.vustudents.net Upto 1000 Solved MCQs of MKT501 Business Analysis Idea-reducing... stimulated to seek information about the innovation at which of the following stage? Select correct option: Interest Trial Awareness Evaluation Which of the following is an example of indirect selling? Select correct option: http://www.vustudents.net Upto 1000 Solved MCQs of MKT501 B2B selling Door -to- door selling Face -to- face selling Telemarketing An event designed to attract the public's attention to the... 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,... 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 http://www.vustudents.net Upto 1000 Solved MCQs of MKT501 Press relations MARKETING MANAGEMENT MCQs FOR QUIZES AND EXAM By Question # 1 of 20 ( Start time: ) Total Marks:... MKT501 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: Fixed cost Unit cost Total cost Variable cost 2 Question # 8 of 20 ( Start time: ) Total Marks: 1 Which of the following... that are widely available to them? Select correct option: Production concept Marketing concept Selling concept Product concept BATNA stands for what? Select correct option: The best available to a new agreement The best available to a negotiated agreement http://www.vustudents.net Upto 1000 Solved MCQs of MKT501 The best alternating to a new agreement The best alternative to a negotiated agreement... following can be used to build up long-term image for a product? Select correct option: Free samples Advertising Coupons Price packs Which of the following is known as a set of marketing tools used by the firms to pursue its marketing objectives in the target market? Select correct option: Marketing mix Promotion mix Offering mix Product mix Which of the following is a controllable factor for marketers?... 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... 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 http://www.vustudents.net Upto 1000 Solved... Start time: ) Total Marks: 1 Which of the following is an example of indirect selling? Select correct option: B2B selling Door -to- door selling Face -to- face selling Telemarketing 1 Question # 4 of 20 ( Start time: ) Total Marks: 1 A company designs the product with little or no input from customers, the company is practicing which of the following concept? Select correct option: Product concept Marketing