Marketing Management - 21

LIST OF ATTEMPTED QUESTIONS AND ANSWERS


Match The Following
Question Correct Answer Your Answer

Deep Assortment Carrying a product family in depth, drawing on many
producer's output Carrying the line of only one manufacturer

Exclusive Assortment Carrying the line of only one manufacturer
Carrying several product lines that fall within the resellers type of
business

Open bid Contract awarded to lowest bidder Direct negotiation
with one or more companies covering project and terms

Negotiated Contract Direct negotiation with one or more companies
covering project and terms Contract awarded to lowest bidder

Multiple Choice Multiple Answer
Question Types of Organisational Market
Correct Answer Reseller market , Industrial market , Government
market
Your Answer Industrial market , Consumer market


True/False
Question The super structure indicates ways in which company's tasks
are integrated or coordinated
Correct Answer True
Your Answer True


True/False
Question A channel's length is also called as horizontal dimension.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question An example of Want is :
Correct Answer Continental food
Your Answer Continental food


True/False
Question Product, place and promotion elements in the marketing mix
are viewed as cost factors.
Correct Answer True
Your Answer False


Select The Blank
Question The demand for a product is ________ when price cut causes
revenue to increase.
Correct Answer Price elastic
Your Answer Price elastic


Select The Blank
Question ________ eliminates the risk of losing customer's goodwill
Correct Answer One price policy
Your Answer One price policy


Select The Blank
Question There are more number of substitutes for ________ products.
Correct Answer Multi use
Your Answer Multi use


True/False
Question Storage helps firms balance supply and demand.
Correct Answer True
Your Answer True


Select The Blank
Question ________ are difficult to change
Correct Answer Attitudes
Your Answer Habits


Select The Blank
Question Market ________ is more prevalent than Mass marketing
Correct Answer Segmentation
Your Answer Segmentation


Multiple Choice Single Answer
Question The price of a product is determined by estimating the cost
of producing and marketing and then add a percentage of profits. This
orientation is called:
Correct Answer Cost
Your Answer Demand


Multiple Choice Single Answer
Question What is product concept?
Correct Answer Detailed version of idea stated in consumer terms
Your Answer Consumer's perception of an actual product


Match The Following
Question Correct Answer Your Answer

This refers to the number of product items within each product line.
Product depth Product height

This includes all product item's a company offers. Product mix
Product mix

This is a group of products that are related. Product line. Product
line.

This is the total number of product lines. Product breadth Product
breadth

Multiple Choice Multiple Answer
Question Planning of long term strategies are based on following
factors:
Correct Answer Opportunity , Objectives, Strategies, Situation
assessment, Organisation mission , Resources
Your Answer Strengths , Objectives, Strategies, Situation assessment,
Organisation mission , Resources


Multiple Choice Multiple Answer
Question Types of psychological pricing are
Correct Answer Prestige , Leader
Your Answer Odd , Leader , Prestige


Multiple Choice Single Answer
Question Marketer tries to seek what kind of response from the other
party?
Correct Answer Behavioural
Your Answer Transaction


True/False
Question Warehouses are needed when supply sources and markets are
located close by.
Correct Answer False
Your Answer False


Select The Blank
Question The onus of advertising, pricing and sales promotion
policies is put on ________ distribution.
Correct Answer Exclusive
Your Answer Integral


True/False
Question Marketer discourages his brand users for brand switching.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question Marketing arises from ?
Correct Answer Exchange
Your Answer Exchange


Multiple Choice Multiple Answer
Question A transaction takes place when
Correct Answer There is time and place of agreement , Two things of
value , Agreed upon conditions
Your Answer There is time and place of agreement , Two things of value ,
Agreed upon conditions


Select The Blank
Question An organisational assessment uncovers________
Correct Answer Weaknesses
Your Answer Weaknesses


Multiple Choice Multiple Answer
Question Shorter distribution channel results in
Correct Answer Reduced costs , Limited market coverage
Your Answer Reduced costs , High market coverage


Multiple Choice Single Answer
Question The output of Stimulus Response Model is
Correct Answer Product decision
Your Answer Product


Select The Blank
Question ________ exists when a few large independent firm accounts
for bulk of an industry's sales.
Correct Answer Oligopoly
Your Answer Oligopoly


Multiple Choice Single Answer
Question A diet conscious person after playing football is thirsty.
He opts for :-
Correct Answer Diet coke
Your Answer Diet coke


Multiple Choice Single Answer
Question It concentrates on organisation design and work flow
Correct Answer Flotilla
Your Answer Systems approach


Multiple Choice Single Answer
Question The input to 'Stimulus Response Model' is
Correct Answer Stimuli
Your Answer Stimuli


Multiple Choice Multiple Answer
Question Characteristics of Effective segmentation
Correct Answer Actionable , Measurable , Accessible
Your Answer Actionable , Measurable , Accessible


Multiple Choice Multiple Answer
Question Types of strategic business units are :
Correct Answer Stars , Cash cows , Question marks
Your Answer Stars , Cash cows , Question marks


Multiple Choice Single Answer
Question Pricing that enables sales people to tailor their prices to
a prospect's situation is called
Correct Answer Price shading
Your Answer Variable pricing


Multiple Choice Single Answer
Question This pricing objective involves setting a low price to
discourage entry of new firms.
Correct Answer Stay out
Your Answer Elimination


Multiple Choice Single Answer
Question This distribution is necessary for most shopping and
speciality goods.
Correct Answer Selective
Your Answer Selective


True/False
Question The cultural environment shows long term trends towards a
hedonistic society.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question This portfolio involves major capital investments which will
result in either large pay offs or large losses
Correct Answer Big bets
Your Answer No-regret moves


Multiple Choice Multiple Answer
Question What is Statistical Quality Control(SQC)
Correct Answer Identifies quality and productivity from a
production process , Identifies impact of any change on performance ,
Instantly spots malfunctions and show where they occur
Your Answer Identifies quality and productivity from a production
process , Identifies impact of any change on performance , Integrates
manufacturing with business strategy


Select The Blank
Question Optimum marketing mix is obtained using analysis, ________,
implementation and control.
Correct Answer Planning
Your Answer Feedback


Multiple Choice Multiple Answer
Question What are the stages in new product development ?
Correct Answer Idea screening , Market testing , Commercialisation
Your Answer Idea screening , Market testing , Commercialisation


Multiple Choice Single Answer
Question These are moves that will pay off irrespective of what
happens in the future
Correct Answer No-regret moves
Your Answer Big bets


Multiple Choice Single Answer
Question A centralised inventory means
Correct Answer Fast delivery to customers
Your Answer Building and stocking one warehouse


Select The Blank
Question ________ of physical distribution activities increases it's
productivity as well as of manufacturer.
Correct Answer Automation
Your Answer Maximisation


True/False
Question Shorter production runs are required to produce large number
of products in multi-segment strategy
Correct Answer True
Your Answer False

Marketing Management - 20

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

 
 Select The Blank
  Question  
Few large buyers do maximum purchasing in ________
  Correct Answer  
Industrial market
  Your Answer  
Industrial market

 
 True/False
  Question  
A company's pricing objectives are influenced by time and circumstances
  Correct Answer  
True
  Your Answer  
True

 
 Select The Blank
  Question  
________ concept increases the efficiency of economic system
  Correct Answer  
Marketing
  Your Answer  
Selling

 
 Multiple Choice Multiple Answer
  Question  
Key concepts of systems view of management includes
  Correct Answer  
Optimisation concept , Total cost concept , Cost trade-off concept
  Your Answer  
Optimisation concept , Total cost concept , Inventory carrying cost concept

 
 Multiple Choice Multiple Answer
  Question  
What are fixed costs?
  Correct Answer  
Office rent , Insurance , Generator back up
  Your Answer  
Office rent , Insurance

 
 Multiple Choice Single Answer
  Question  
This distribution is necessary for most convenience goods.
  Correct Answer  
Intensive
  Your Answer  
Intensive

 
 Multiple Choice Single Answer
  Question  
It is the process of buying out the product developed by someone else
  Correct Answer  
Acquisition
  Your Answer  
Commercialisation

 
 True/False
  Question  
Distribution costs are low when intermediaries are used in the channel.
  Correct Answer  
True
  Your Answer  
False

 
 Multiple Choice Single Answer
  Question  
Quantity discrepancy for a convenience product in a marketing channel is
adjusted by :
  Correct Answer  
Retailer
  Your Answer  
Retailer

 
 Multiple Choice Single Answer
  Question  
What involves review of projected sales, costs and profits.
  Correct Answer  
Business analysis
  Your Answer  
Business analysis

 
 Select The Blank
  Question  
________cost accounting measures the cost of producing and ignores the cost
of non-producing
  Correct Answer  
Traditional
  Your Answer  
Traditional

 
 Select The Blank
  Question  
The benefits of a change in process are defined in terms of ________ cost
savings
  Correct Answer  
Labour
  Your Answer  
Labour

 
 Multiple Choice Multiple Answer
  Question  
The tangible inputs in a business are
  Correct Answer  
Capital , Machine , Time
  Your Answer  
Technology , Machine

 
 Multiple Choice Multiple Answer
  Question  
What are psychogenetic needs
  Correct Answer  
Belonging , Recognition
  Your Answer  
Belonging , Recognition

 
 Match The Following
Question
Correct Answer
Your Answer

Customer is the focal point in
Marketing
Selling

Tangible sources
Capital, machines,raw material
Capital, machines,raw material

Intangible sources
Information, time and technology
Information, time and technology

Consumer to producer
Backward communication
Backward communication

 
 True/False
  Question  
Buyers are geographically concentrated in the consumer market.
  Correct Answer  
False
  Your Answer  
False

 
 Multiple Choice Single Answer
  Question  
The greatest amount of satisfaction comes from which utility
  Correct Answer  
Possession
  Your Answer  
Possession

 
 Select The Blank
  Question  
________ is a modern plant consisting of modules centered around a stage in
the production process
  Correct Answer  
Flotilla concept
  Your Answer  
Flotilla concept

 
 Multiple Choice Single Answer
  Question  
Source credibility is :
  Correct Answer  
Receiver's perception regarding belief on sender.
  Your Answer  
Receiver's perception regarding belief on sender.

 
 True/False
  Question  
Marketing concept has application only in profit oriented businesses.
  Correct Answer  
False
  Your Answer  
False

 
 Multiple Choice Single Answer
  Question  
Who provides time and place utility?
  Correct Answer  
Intermediary
  Your Answer  
Supplier

 
 Multiple Choice Multiple Answer
  Question  
Socio-cultural environment consists of
  Correct Answer  
Social class , Culture
  Your Answer  
Social class , Culture

 
 Multiple Choice Single Answer
  Question  
Consumerism emerged in which era of Marketing?
  Correct Answer  
Sales
  Your Answer  
Production

 
 Multiple Choice Single Answer
  Question  
Production creates which type of utility
  Correct Answer  
Form
  Your Answer  
Possession

 
 Multiple Choice Multiple Answer
  Question  
When is demand price elastic?
  Correct Answer  
Price cut causes revenue to increase , Price rise causes revenue to decrease

  Your Answer  
Price cut causes revenue to increase

 
 True/False
  Question  
Changes in consumer's buying patterns affects channel's horizontal and
vertical dimensions.
  Correct Answer  
True
  Your Answer  
True

 
 True/False
  Question  
Diversification strategy involves diversifying away from their original core
businesses
  Correct Answer  
True
  Your Answer  
False

 
 Multiple Choice Single Answer
  Question  
The tool that a sender uses to reach to the receiver is called:
  Correct Answer  
Message
  Your Answer  
Message

 
 Multiple Choice Single Answer
  Question  
In which phase of production era, the producer and consumer are the same ?
  Correct Answer  
Subsistence
  Your Answer  
Subsistence

 
 True/False
  Question  
Experimental research involves obtaining data from respondents in person,
mail or by phone
  Correct Answer  
False
  Your Answer  
False

 
 True/False
  Question  
Marketing and production costs are high in multi-segment strategy
  Correct Answer  
True
  Your Answer  
True

 
 Select The Blank
  Question  
________ is a broad plan of action for using an organisation's resources to
accomplish a objective
  Correct Answer  
Strategy
  Your Answer  
Strategy

 
 Multiple Choice Multiple Answer
  Question  
Drawbacks of Survey of Buyer's intention method are
  Correct Answer  
Exposure , Not accurate , Time consuming
  Your Answer  
Not accurate , Time consuming , Sales may be inflated or deflated by sales
team

 
 Select The Blank
  Question  
Product means the ________ and services the company offers the target
market.
  Correct Answer  
Goods
  Your Answer  
Goods

 
 True/False
  Question  
A drive is a need that sufficiently presses a person to act
  Correct Answer  
True
  Your Answer  
True

 
 Select The Blank
  Question  
________ distribution is used when a small percentage of customers account
for a large part of sale.
  Correct Answer  
Selective
  Your Answer  
Intensive

 
 Multiple Choice Multiple Answer
  Question  
Market segmentation can be done on the basis of following factors
  Correct Answer  
Psychographic , Demographic , Geographic
  Your Answer  
Psychographic , Demographic , Geographic

 
 Multiple Choice Single Answer
  Question  
It is an approach to cost reduction in which components are studied to
determine if they can be made by cheaper methods of production
  Correct Answer  
Product Value Analysis
  Your Answer  
Product Value Analysis

 
 True/False
  Question  
The life cycle of product category is the shortest.
  Correct Answer  
False
  Your Answer  
False

 
 Select The Blank
  Question  
________ research involves using past experiences to find solutions to
marketing problems
  Correct Answer  
Historical
  Your Answer  
Historical

 
 Multiple Choice Single Answer
  Question  
An example of Want is :
  Correct Answer  
Continental food
  Your Answer  
Safety

 
 Multiple Choice Single Answer
  Question  
It is the process of selecting people for company positions and developing
skills and abilities for assignments in the company
  Correct Answer  
Staffing
  Your Answer  
Staffing

 
 Select The Blank
  Question  
Japan's major productivity gains are the results of social changes brought
about by ________
  Correct Answer  
Statistical quality control
  Your Answer  
Michael Porter's model for Industry Analysis

 
 Multiple Choice Multiple Answer
  Question  
Target marketing involves
  Correct Answer  
Market targeting , Market segmentation
  Your Answer  
Market targeting , Market segmentation , Market positioning

 
 Match The Following
Question
Correct Answer
Your Answer

Product related consumer characteristics
Brand loyalty, Type of usage
Brand loyalty, Type of usage

Demographic
Age, Sex
Age, Sex

Psychographic
Social class, Lifestyle
Social class, Lifestyle

Geographic variables
City, Region
City, Region

 
 Multiple Choice Multiple Answer
  Question  
The micro-environment consists of following components:
  Correct Answer  
Marketing intermediaries , Customers , Competitors
  Your Answer  
Marketing intermediaries , Customers , Competitors

 
 Multiple Choice Single Answer
  Question  
Which is the shortest marketing channel for an industrial product?
  Correct Answer  
Producer--->Industrial user
  Your Answer  
Producer--->Consumer

Marketing Management - 19

LIST OF ATTEMPTED QUESTIONS AND ANSWERS


Multiple Choice Single Answer
Question Production creates which type of utility
Correct Answer Form
Your Answer Form


Multiple Choice Single Answer
Question A diet conscious person after playing football is thirsty.
He opts for :-
Correct Answer Diet coke
Your Answer Pepsi


Multiple Choice Single Answer
Question The greatest amount of satisfaction comes from which utility
Correct Answer Possession
Your Answer Possession


Multiple Choice Single Answer
Question Who provides time and place utility?
Correct Answer Intermediary
Your Answer Supplier


Multiple Choice Single Answer
Question In which phase of production era, the producer and consumer
are the same ?
Correct Answer Subsistence
Your Answer Subsistence


Multiple Choice Single Answer
Question Consumerism emerged in which era of Marketing?
Correct Answer Sales
Your Answer Sales


Multiple Choice Single Answer
Question Marketer tries to seek what kind of response from the other
party?
Correct Answer Behavioural
Your Answer Behavioural


Multiple Choice Single Answer
Question Marketing arises from ?
Correct Answer Exchange
Your Answer Exchange


Select The Blank
Question ________ concept increases the efficiency of economic system
Correct Answer Marketing
Your Answer Marketing


Select The Blank
Question The factor of satisfaction and ________ motives are
consistent in society
Correct Answer Profit
Your Answer Exchange


True/False
Question Marketing concept provides a balance to the exchange process
within the social system
Correct Answer True
Your Answer False


True/False
Question "The customer is always right" is the spirit of marketing
concept.
Correct Answer True
Your Answer True


Multiple Choice Multiple Answer
Question Types of product classification
Correct Answer Consumables , Durables , Services
Your Answer Consumables , Durables , Services


Select The Blank
Question Customers are brand,style and type conscious when buying
________ products.
Correct Answer Special
Your Answer Special


Multiple Choice Multiple Answer
Question What are the stages in new product development ?
Correct Answer Idea screening , Market testing , Commercialisation
Your Answer Idea screening , Market testing , Commercialisation


Multiple Choice Multiple Answer
Question Shorter distribution channel results in
Correct Answer Reduced costs , Limited market coverage
Your Answer Reduced costs , Limited market coverage


True/False
Question Indirect channels for industrial products are longer than
consumer product channels.
Correct Answer False
Your Answer False


True/False
Question Firms that lack promotional capabilities rely on middlemen.
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question Lead time for a product is 10 days and usage rate is 6
units/day. Reorder point will be .
Correct Answer 60 units
Your Answer 60 units


Multiple Choice Single Answer
Question Source credibility is :
Correct Answer Receiver's perception regarding belief on sender.
Your Answer Receiver's perception regarding belief on sender.


Multiple Choice Single Answer
Question Major components of marketing mix are :
Correct Answer Product
Your Answer Product


True/False
Question Sales contests, consumer contests are examples of public
relations.
Correct Answer False
Your Answer False


Multiple Choice Single Answer
Question As a person acquires additional units of a product, the
amount of satisfaction(each unit adds to total satisfaction), is less than
the previous unit. This is called
Correct Answer Law of diminishing marginal utility
Your Answer Law of diminishing marginal utility


Multiple Choice Multiple Answer
Question What are variable costs?
Correct Answer Material , Labour
Your Answer Labour , Material


Select The Blank
Question The demand for a product is ________ when price cut causes
revenue to increase.
Correct Answer Price elastic
Your Answer Price elastic


Select The Blank
Question In ________ pricing buyers pay different prices under the
same conditions , in the same quantities and at the same time
Correct Answer Variable
Your Answer Variable


Match The Following
Question Correct Answer Your Answer

Trade discount Reduction in list price to channel menbers Reduction in
list price to channel menbers

Cumulative quantity discount Discount percetage increases as the quantity
purchased increases Discount percetage increases as the quantity
purchased increases

Non-cumulative quantity discount Applies to a single order
Applies to a single order

Cash discount Given for paying promptly Given for paying promptly

Multiple Choice Multiple Answer
Question The micro-environment consists of following components:
Correct Answer Marketing intermediaries , Customers , Competitors
Your Answer Marketing intermediaries , Customers , Competitors


Multiple Choice Single Answer
Question It appraises the organisation's capacity to respond to these
opportunities and threats
Correct Answer Organisational assessment
Your Answer Organisational assessment


Multiple Choice Multiple Answer
Question Planning of long term strategies are based on following
factors:
Correct Answer Objectives, Strategies, Situation assessment,
Organisation mission , Resources , Opportunity
Your Answer Opportunity , Objectives, Strategies, Situation assessment,
Organisation mission , Resources


Match The Following
Question Correct Answer Your Answer

Objectives What is to be accomplished What is to be accomplished

Strategies How to achieve objectives How to achieve objectives

Policies Constraints that limits the alternatives available
Constraints that limits the alternatives available

Strategic organisational planning Top Management Top Management

Multiple Choice Single Answer
Question What is Recurrent data?
Correct Answer Routinely collected data
Your Answer Routinely collected data


Multiple Choice Multiple Answer
Question The external sources of Primary data are :
Correct Answer Retailer , Wholesaler , Libraries
Your Answer Retailer , Wholesaler


True/False
Question MIS provides marketers with the right amount and type of
information in a timely fashion.
Correct Answer True
Your Answer True


True/False
Question Internal records such as sales reports, cost and accounting
information are expensive to obtain.
Correct Answer False
Your Answer False


Multiple Choice Multiple Answer
Question Beliefs are based on
Correct Answer Knowledge , Opinion , Faith
Your Answer Knowledge , Opinion , Faith


Multiple Choice Single Answer
Question In this market, organisation acquires goods for the purpose
of renting to others at profit
Correct Answer Reseller Market
Your Answer Reseller Market


Multiple Choice Single Answer
Question What is Exclusive Assortment?
Correct Answer Carrying the line of only one manufacturer
Your Answer Carrying the line of only one manufacturer


Select The Blank
Question Few large buyers do maximum purchasing in ________
Correct Answer Industrial market
Your Answer Industrial market


Multiple Choice Multiple Answer
Question Characteristics for effective market segmentation are:
Correct Answer Actionable , Measurable , Accessible
Your Answer Actionable , Measurable , Accessible


Select The Blank
Question Market ________ is more prevalent than Mass marketing
Correct Answer Segmentation
Your Answer Segmentation


True/False
Question Marketing and production costs are high in multi-segment
strategy
Correct Answer True
Your Answer True


Select The Blank
Question Product, price, place and promotion are the 4p's of ________
mix
Correct Answer Marketing
Your Answer Marketing


Multiple Choice Multiple Answer
Question An unhealthy portfolio has
Correct Answer More dogs , Few stars
Your Answer More dogs , Few stars


Select The Blank
Question The benefits of a change in process are defined in terms of
________ cost savings
Correct Answer Labour
Your Answer Infrastructure


True/False
Question Change in company structure from divisional to matrix also
mean changes in the systems in various degrees
Correct Answer True
Your Answer True


Multiple Choice Single Answer
Question Manufacturers offering variety of price promotions to their
middlemen is called
Correct Answer Trade promotion
Your Answer Trade promotion