MKT501 Final Term Paper
Question No: 1 ( Marks: 1 ) - Please choose one
Which of the following stage of product life cycle is most expensive?
► Introduction
► Growth
► Maturity
► Decline
ref
Market introduction stage: Cost high, Sales volume low, Losses
Question No: 2 ( Marks: 1 ) - Please choose one
In which of the following demand for the product reduces because of technological advances, shifts in consumer tastes and increased competition?
► Introduction stage
► Growth stage
► Maturity stag
► Decline stage
ref
Decline stage: Fourth and last stage of a product's life cycle, characterized by fast declining sales revenue and fewer customers. Generally caused by (1) obsolescence, (2) Changes in customer preferences, 3) Global competition
Question No: 3 ( 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
Ref: Compatibility: The degree to which new product matches the values and experiences of the individuals in the society.
Question No: 4 ( Marks: 1 ) - Please choose one
Which of the following is the leak-proof packaging that provides additional protection for the primary container?
► Primary packaging
► Secondary packaging
► Transport packaging
► Decorative packaging
Ref: Secondary packaging: Leak-proof packaging that provides additional protection for the primary receptacle(s); it may include absorbent material.
Question No: 5 ( Marks: 1 ) - Please choose one
ABC Co., a major Swedish multinational, provides an example of the power of innovative packaging and customer thinking. ABC Co. is involved in which of the following types of packaging that enables milk, fruit juice, and other perishable liquid foods to be distributed without refrigeration?
► Boxes
► Blister packs
► Cartons
► Aseptic packages
Ref: There are a large number of products in aseptic packages. These include soy milks, rice drinks, juices, tomatoes, soups, tofu, sports drinks, liquid eggs, and concentrates, cocktail mixes, whipping cream, infant nutritional beverages, teas, sauces and gravies.
Question No: 6 ( Marks: 1 ) - Please choose one
Which of the following brands is created specifically to counter a competitive threat?
► Premium brand
► Economy brand
► Fighting brand
► Corporate brand
ref
A fighting brand is a brand created specifically to counter a competitive threat.
Question No: 7 ( Marks: 1 ) - Please choose one
Which of the following is a name, term, sign, symbol, design, or a combination of these, that identifies the product or service?
► Label
► Co-brand
► Brand
► Product
Ref: A brand is the identity of a specific product, service, or business. A brand can take many forms, including a name, sign, symbol, colour combination or slogan.
Question No: 8 ( 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
ref
When two or more brands work together to market their products, this is referred to as Co-branding.
Question No: 9 ( 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
ref
LOSS LEADER: In marketing, a loss leader is an item that is sold below cost in an effort to stimulate other profitable sales.
Question No: 10 ( Marks: 1 ) - Please choose one
Which of the following way of advertising can be used to attract passing pedestrian?
► Sponsorships
► Commercials
► Billboards
► Catchy jingles
ref
Traditional Billboards: Roadside billboards frequently encourage passersby to visit local businesses.
Question No: 11 ( Marks: 1 ) - Please choose one
Which of the following is the basic role of promotion?
► Interpretation
► Communication
► Manipulation
► Information
ref
Promotion involves disseminating information about a product, product line, brand, or company.
Question No: 12 ( Marks: 1 ) - Please choose one
Which of the following is NOT generally recognized as an element of the promotion mix?
► Sales promotion
► Pricing
► Public relations
► Advertising
ref
Promotional mix such as advertising, sales promotion, public relations, and publicity.
Question No: 13 ( Marks: 1 ) - Please choose one
IMC stands for what?
► Internal marketing community
► Integrated managing company
► Internal marketing communication
► Integrated marketing communication
Question No: 14 ( Marks: 1 ) - Please choose one
Which of the following offers an incentive to buy a product?
► Direct mail
► Public relations
► Sales promotion
► Advertising
ref
Sales promotion: A diverse collection of incentive tools, mostly short term, designed to stimulate quicker &/or grater purchase of particular products/services by consumers or the trade. Where advertising offers a reason to buy, sales promotion offers an incentive to buy.
Question No: 15 ( Marks: 1 ) - Please choose one
Which of the following is NOT a medium used for advertising?
► Publicity
► Print media
► Television
► Radio
Question No: 16 ( Marks: 1 ) - Please choose one
Lost-and-found advertising on papyrus was common in which of the following:
► Rom and India
► Greece and India
► Rom and China
► Greece and Rom
ref
Egyptians used papyrus to create sales messages and wall posters, while lost-and-found advertising on papyrus was common in Greece and Rome.
Question No: 17 ( Marks: 1 ) - Please choose one
Which of the following is NOT the form of complex sales?
► Real estate development
► Large fleet vehicle sales
► Mining equipment sales
► Commercial goods sales
ref
Forms of complex sales:
- § Commercial insurance sales
- § Real Estate development
- § Large fleet vehicle sales
- § Mining equipment sales (ie Caterpillar tractors and large tunnel boring machines)
- § Scientific Solution Sales (Data analysis and management)
Question No: 18 ( Marks: 1 ) - Please choose one
Which type of sales involves long sales cycles with multiple decision makers?
► Electronic sales
► Consultative sales
► Complex sales
► Direct sales
ref
Complex sales involve long sales cycles with multiple decision makers. Multiple stakeholders and stakeholder groups contribute to every complex sale.
Question No: 19 ( Marks: 1 ) - Please choose one
Which of the following is an advantage of sales force management system for marketing manager?
► Identifying the best customers
► Identifying segments within market
► Identifying target market
► All of the given options
Question No: 20 ( Marks: 1 ) - Please choose one
Identify the type of promotion in which companies use celebrities for promotion.
► Personal selling
► Sales promotion
► Publicity
► Public relation
ref
Publicity is the means of using an external entity (celebrities, people from the media, etc) to increase the awareness levels of the product, company, goods etc amongst the public and/or buying segment.
Question No: 21 ( Marks: 1 ) - Please choose one
What is the intention of vertical marketing for retailers and wholesalers?
► Increase cost
► Reduce channels
► Reduce control
► Increase control
Question No: 22 ( Marks: 1 ) - Please choose one
Which of the following is NOT a production decision?
► Delivery of goods
► Contracting
► Planning process
► Scheduling
ref
Production decisions, including contracting, locations, scheduling, and planning process definition.
Question No: 23 ( Marks: 1 ) - Please choose one
Which of the following is a performance measure of efficiency of organization’s logistics?
► Logistics engineering
► Market logistics
► Landed cost
► Market growth
ref
Logistic Engineering deals with the science of Logistics.
Question No: 24 ( Marks: 1 ) - Please choose one
Which of the following is NOT a method of retailing?
► Counter-service
► Cross-selling
► Self-service
► Online shop
ref
Even though most retailing is done through self-service, many shops offer counter-service items.
Question No: 25 ( Marks: 1 ) - Please choose one
Which of the following is NOT a psychological need?
► Need for affection
► Need for food
► Need for water
► Need for sleep
ref
The physiological needs of the organism, those enabling homeostasis, take first precedence. These consist mainly of:
• The need to breathe
• The need to eat
• The need to dispose of bodily wastes
• The need for sleep
• The need to regulate body temperature.
Question No: 26 ( Marks: 1 ) - Please choose one
Identify the projective technique in which a picture is shown and respondents are asked to make the story.
► Role playing
► Cartoon test
► Story completion
► Thematic apperception test
ref
Thematic apperception tests - respondents are shown a picture (or series of pictures) and asked to make up a story about the picture(s).
Question No: 27 ( Marks: 1 ) - Please choose one
A corporate VMS has the advantage of controlling the entire distribution chain under which of the following?
► A few intermediaries
► Mass distribution
► Single ownership
► A profit-maximizing strategic plan
Question No: 28 ( Marks: 1 ) - Please choose one
Global markets are engaged in all of the following decisions EXCEPT:
► What country to enter in?
► How to enter?
► How to adopt their product and services?
► What to sell to governmental organization?
ref
GLOBAL MARKETS: This is when we talk beyond frontiers; marketers are faced with tougher decisions for global markets. Export of product is in itself a major undertaking. Which country to enter? How to enter? How to Price? How to communicate?
Question No: 29 ( Marks: 1 ) - Please choose one
Which of the following involves the use and disposal of products as well as the study of how they are purchased?
► Consumer performance
► Consumer response
► Consumer behavior
► Consumer relationship
ref
Consumer behavior involves the use and disposal of products as well as the study of how they are purchased.
Question No: 30 ( Marks: 1 ) - Please choose one
Maslow's hierarchy has a list of human needs from the most pressing to the least pressing. These include all of the following EXCEPT:
► Self-actualization
► Need recognition
► Safety needs
► Social needs
Question No: 31 ( Marks: 1 ) - Please choose one
_______ are the sum of the _______ and _______ for any given level of production.
► Fixed costs; variable; total costs
► Fixed costs; total; variable costs
► Variable costs; fixed; total costs
► Total costs; fixed; variable costs
Question No: 32 ( Marks: 1 ) - Please choose one
Which of the following concepts is defined as the “responsiveness of the quantity demanded of a good or service to a change in its price”?
► Price elasticity
► Break-even pricing
► Demand curve
► Target cost
ref
Elasticity of Demand (PED) is a measure of the responsiveness of the quantity demanded of a good or service to a change in its price.
Question No: 33 ( Marks: 1 ) - Please choose one
What are the tasks of the sales representative?
► Informing customers; information gathering; persuasion
► Installation and demonstration of products; project management; maintaining relationships
► Prospecting clients; relationship management; monitoring the competition
► All of the above
Question No: 34 ( Marks: 1 ) - Please choose one
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called _____.
► Sales promotion
► Direct marketing
► Advertising
► Personal selling
ref
Advertising is any paid form of non-personal presentation and promotion of ideas, goods and services through mass media such as newspapers, magazines, television or radio by an identified sponsor".
Question No: 35 ( Marks: 1 ) - Please choose one
Multi-component video news release (VNR’s) is one of the tools of:
► Advertising
► Sales promotion
► Direct marketing
► Publicity
ref
Basic TOOLS of the Publicist are:
• Press Release
• Telephone press conferences
• In-studio media tours
• Multi-component video news releases (VNR’s)
• Newswire stories.
Question No: 36 ( Marks: 1 ) - Please choose one
“Unwillingness to change thought patterns that we have used in the past in the face of new circumstances” is showing which of the following concepts?
► Conservatism and inertia
► Experiential limitations
► Selective perception
► Source Credibility bias
ref
Conservatism and inertia - Unwillingness to change thought patterns that we have used in the past in the face of new circumstances.
Question No: 37 ( Marks: 1 ) - Please choose one
Global Market is also called as:
► Consumer market
► Import market
► Export market
► Government market
Question No: 38 ( Marks: 1 ) - Please choose one
A good marketing strategy would be to promote the extensive use of market segmentation in the:
► Introduction
► Growth
► Maturity
► Decline
ref
Maturity Stage:"Marketers will also revise their marketing strategies .i.e. they will find new segments of the market for their product.
Question No: 39 ( Marks: 1 ) - Please choose one
Pricing a product at 4.99 Rs rather than 5 Rs is an example of which of the following?
► Unit pricing
► Odd pricing
► Round down pricing
► One price policy
ref
Prices are rounded down to the nearest multiple of 5 cents for sales ending in 1c, 2c.
Question No: 40 ( Marks: 1 ) - Please choose one
The opportunity to deduct 2 percent from the bill if payment is made within 10 days is a:
► Trade discounts
► Quality discounts
► Cash discount
► Off price discounts
Question No: 41 ( Marks: 1 ) - Please choose one
If the firm's average total cost is equal to the price of the product at profit maximization then at what mode of operation the firm would be?
► Economic profit
► Normal profit
► Loss minimizing
► Shut down
ref
A firm is said to be making a normal profit when its economic profit equals zero. This occurs where average total cost equals price at the profit-maximizing output.
Question No: 42 ( Marks: 1 ) - Please choose one
If the price of product is between average total cost and average variable cost at profit maximization then at what mode of operation the firm would be?
► Economic profit
► Normal profit
► Loss minimizing
► Shut down
ref
If the price is between average total cost and average variable cost at the profit-maximizing output, then the firm is said to be in a loss-minimizing condition.
Question No: 43 ( Marks: 1 ) - Please choose one
Industrial purchases usually refer to deal with:
► Retailers
► Wholesalers
► Agents
► Manufacturer
ref
WHOLESALING “includes all activities involved in selling goods and services to those who buy for resale or business use”.
Question No: 44 ( Marks: 1 ) - Please choose one
Intense distribution:
► Involves the selection of small number of retailers
► Is usually used in the distribution of Candies and chewing gum
► Requires very little use of whole sellers
► Bypass the intermediaries
ref
Intensive Distribution Takes place when suppliers sell through as many retailers as possible. This arrangement usually maximizes suppliers' sales; and it enables retailers to offer many brands and product versions.
Question No: 45 ( Marks: 1 ) - Please choose one
You are going to take a decision about a purchase and your decision is influenced by initial information you collected from a source. Identify the decision making style in this situation.
► Repetition bias
► Group decision
► Anchoring
► Selective perception
ref
Anchoring - Decisions are unduly influenced by initial information that shapes our view of subsequent information.
Question No: 46 ( Marks: 1 ) - Please choose one
Which of the following statements most closely relates to the consumer decision process?
► An important factor in problem recognition is changed financial status
► There are two major steps: internal search and external decision making.
► Attitude triggers the consumer decision process
► Routine purchases require both evaluation and search
Question No: 47 ( Marks: 1 ) - Please choose one
Marketing strategies that have been successful in one country often cannot be applied directly in international markets due to which of the following?
► Political differences
► Social differences
► Cultural differences
► Economic differences
ref
Cultural differences are particularly important for international markets. Marketing strategies that prove successful in one country cannot extend to other international markets because of cultural variations.
Question No: 48 ( Marks: 1 ) - Please choose one
The survey method of collecting data includes which of the following?
► Observations
► Personal interviews
► Reports
► Internal sales data
Question No: 49 ( Marks: 3 )
How the performance of a supply chain can be measured? Mention any three points.
Question No: 50 ( Marks: 3 )
What is the purpose of marketing research?
Question No: 51 ( Marks: 5 )
A company is using sales force automation system and aims to increase customer’s satisfaction. How sales force automation system can be helpful in attaining customer’s satisfaction?
Question No: 52 ( Marks: 5 )
How public relations are helpful in creating goodwill for organizations?
Question No: 53 ( Marks: 5 )
Differentiate between economic and psychological models.
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