MKT501 Quiz

MKT501 Marketing Management Quiz # 1
Question # 1
Which of the following is NOT a purpose of a marketing plan?
Select correct option:

It specifies how resources are to be allocated
It co-ordinates marketing and production activities
It assigns responsibilities, tasks and timing
It assists in management control

Question # 2
Relationship marketing is also known as:
Select correct option:

Brand marketing
Value marketing
Loyalty marketing
Experiential marketing

Question # 3
Product planners need to think about products and services on three levels. Each level adds more
customer value. The most basic level is the _____, which addresses the question, “What is the buyer
really buying?”
Select correct option:

Augmented product
Actual product
Core benefit
Specialty product

Question # 4
Retailers are considered under which of the following environment?
Select correct option:

Broad
Weak
Task
Competitive

Question # 5
A firm is developing a new product and has placed the advertisement of the product. The firm is at
which stage of the new product development process?
Select correct option:

Commercialization
Concept development
Beta testing
Business Analysis

Question # 7
Which of the following is NOT a part of broad environment?
Select correct option:

Economy
Demographics
Technology
Corporate culture

Question # 8
In the product adoption process, the consumer is stimulated to seek information about the innovation
at which of the following stage?
Select correct option:

Interest
Trial
Awareness
Evaluation

Question # 9
Which of the following is NOT a force in the macro environment?
Select correct option:

Cultural
Political
Economic
Supplier

Question # 11
Which of the following are products and services bought by final consumers for personal consumption?
These include convenience products, shopping products, specialty products, and unsought products.
Select correct option:

Material and parts
Consumer products
Industrial products
Capital items

Question # 12
Which of the following markets involve buying and selling of goods for their utility and enabling
them to make or re-sell a product to others?
Select correct option:

Consumer markets
Business markets
Global markets
Government markets

Question # 13
The consumer’s estimate of the product’s overall capacity to satisfy his or her needs is called:
Select correct option:

Product Cost
Product Value
Product need
Product Satisfaction

Question # 14
ABC Company has introduced a new beverage in the market. The company must inform customers about
the availability and the benefits of the beverage. Identify the activitiy of marketing mix involved.
Select correct option:

Place
Price
Promotion
Product

Question # 15
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 # 16
Financial summary of a marketing plan includes all EXCEPT:
Select correct option:

Pro-forma income statement
Month-by-month agenda
Breakeven analysis
Assumptions

Question # 17
Which of the following tells about the details of the plan?
Select correct option:

Title page
Mrket analysis
Marketing strategy
Executive summary

Question # 18
Which of the following is an advantage that enables business to survive against its competition over
a long period of time.
Select correct option:

Marketing advantage
Sustainable competitive advantage
Core competency
Competitive advantage

Question # 19
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