Marketing Management MCQs [set-23] 551. The process of collecting information about the external marketing environment is A. Environmental management B. Environmental scanning C. Marketing management D. Marketing research Answer: B 552. The most formal definition of marketing is ________. m o c . A. Meeting needs profitably B. Identifying and meeting human and social needs C. The four Ps (product, price, place, promotion) e t a D. An organizational function and a set of processes for creating, communicating, and delivering M q c M 553. Which of the following would be the best illustration of a subculture? value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders Answer: D A. A religion. B. A group of close friends. C. Your university. D. Your occupation. Answer: A 554. The ________ is a tool for identifying ways to create more customer value. A. Value chain B. Customer survey C. Brand loyalty index D. Promotion channel Answer: A 555. Good marketing is no accident, but a result of careful planning and ________. A. execution B. selling C. strategies D. research Answer: A 556. Marketing management is ________. A. managing the marketing process B. monitoring the profitability of the company’s products and services C. the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value D. developing marketing strategies to move the company forward Answer: C 557. Chimney Sweeps employs people to clean fireplaces and chimneys in homes and apartments. The firm is primarily the marketer of which one of the following? A. An image B. A service C. A good D. An idea Answer: B 558. Marketers often use the term ________ to cover various groupings of customers. A. people B. buying power C. demographic segment D. market Answer: D 559. The ________ concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization’s products. A. production B. selling C. marketing D. holistic marketing Answer: B Download more sets at McqMate.com 560. ________ is the father of modern marketing. A. Peter Drucker B. Philip Kotler C. Neil Armstrong D. Maslow Answer: B 561. The product mix pricing technique through which companies develop product lines for pricing instead of single products is classified as A. by-product pricing B. optional-feature pricing C. product line pricing D. Two-part pricing Answer: C 562. The concept of product mix which refers to wide range of product lines carried by the company is classified as A. width of product mix B. length of product mix C. depth of product mix D. consistency of product mix Answer: A 563. In the product mix, the company producing the toothpaste, paper products, detergents and bathing soap bars is classified as A. product line consistency B. product line width C. product line length D. product line depth Answer: C 564. The ________ of a product mix refers to how many variants are offered of each product in the line. A. Width B. Length C. Depth D. Consistency Download more sets at McqMate.com Answer: C 565. The ________ of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way. A. Consistency B. Depth C. Width D. Length Answer: A 566. The pricing technique used by sellers while selling individual products in bundles is A. optional-feature pricing B. pure bundling pricing C. mixed bundling pricing D. pure bundling pricing Answer: C 567. Pricing cues such as sale signs and prices that end in 9 become more influential when ________. A. Consumer price knowledge is poor B. Items are purchased frequently C. Items have been on the market a long time D. Prices are consistent year-round Answer: A 568. In market-penetration pricing, the company’s objective is to ________, believing that higher sales volume will lead to lower unit costs and higher long-run profits. A. Block competitive launches B. Maximize their market share C. Minimize their market share D. Maximize volume Answer: B 569. To maximize market share, a firm may use _____________ pricing, which is based on the theory that as sales volume increases, unit costs will decrease. Download more sets at McqMate.com A. Market-penetration B. Market-skimming C. Value pricing D. Demand pricing Answer: A 570. Consumers ________ low-cost products or items they buy infrequently. A. Prefer the lowest total cost of ownership of B. Are ambivalent to prices of C. Are more price sensitive to D. Are less price sensitive to Answer: D 571. Sigma-Sunco has decided to introduce its new sunscreen eye drops in a limited market consisting of only two cities and closely monitor the reactions of potential customers to the product and marketing program. This is called A. Diffusion analysis B. Use test C. Concept test D. Test marketing Answer: D 572. At the Melting Moments, an ice cream parlor, customers place their orders, watch their ice- cream sundaes being prepared, and then quickly eat the sundaes in the store before the ice cream melts. This is an example of a characteristic of services known as A. Inseparability B. Intangibility C. Heterogeneity D. Perishability Answer: D 573. Raw materials such as forest and food are termed as a. A. Infinite resources B. Finite resources C. Finite renewable resources D. Finite nonrenewable resources Download more sets at McqMate.com Answer: C 574. The optional-feature pricing, captive-product pricing, product-bundling pricing and byproduct pricing are considered as the techniques of A. product mix pricing B. line stretching pricing C. line filling pricing D. line deepening pricing Answer: A 575. Which of the following is not one of the problems typically associated with secondary data? A. It is too expensive to obtain B. It may not be current C. It may not exist D. It may not be impartial Answer: A Download more sets at McqMate.com
