MKT501 Quiz
Insurance service would BEST be described as which kind of a product?
Select correct option:
Convenience
Unsought
Specialty
Durable

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

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 is NOT a part of financial summary?
Select correct option:
Financial requirements
Pro-forma income statement
Margin analysis
Break-even analysis

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

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

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

Which of the following emphasizes on profit margins rather than revenue?
Select correct option:
Market leader
Market challenger
Market nicher
Market follower

A product is showing rapidly rising sales and profits are also high. Identify the
product is at:
Select correct option:
Introduction stage
Growth stage
Maturity stage
Decline stage

The growth stage of a product life cycle is associated with:
Select correct option:
Rapidly rising sales
Low sales
Declining sales
Low profit
Among the various elements, the brand name, belongs to which of the following?




Core product
Actual product
Augmented product doubt
Specialty product
Which one of the following BEST describes the human need?




Food
French-fries
Burger
Pizza
Which of the following is Not a component of a marketing plan?




Marketing advantages
Environmental analysis
Executive summary
Marketing implementation
Which of the following is NOT a force in the macro environment?




Cultural
Political
Economic
Supplier
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
Business Analysis
Aggressive selling is a characteristic of which of the following concept of marketing?



Production concept
Marketing concept
Selling concept

Product concept
In the _____, the firm faces a trade-off between high market share and high current
profit.




Introduction stage
Growth stagedoubt
Maturity stage
Decline stage
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?




Marketing mix
Promotion mix
Offering mix
Product mix
Which of the following is NOT a purpose of a marketing plan?



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

Among the various elements, the brand name, belongs to which of the following?
Core product
Actual product
Augmented product
Specialty product
Which one of the following BEST describes the human need?
Food
French-fries
Burger
Pizza
Which of the following is Not a component of a marketing plan?
Marketing advantages
Environmental analysis
Executive summary
Marketing implementation
Which of the following is NOT a force in the macro environment?
Cultural
Political
Economic
Supplier
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
Business Analysis
Aggressive selling is a characteristic of which of the following concept of marketing?
Production concept
Marketing concept
Selling concept
Product concept
In the _____, the firm faces a trade-off between high market share and high current
profit.
Introduction stage
Growth stage
Maturity stage
Decline stage
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?
Marketing mix
Promotion mix
Offering mix
Product mix
Which of the following is NOT a purpose of a marketing plan?
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
Tight cost control is associated with which of the following strategy?
Market segmentation strategy
Market dominance strategy
Differentiation strategy
Cost leadership strategy
Which of the following is NOT an external source of idea generation?
Top management
Competitors
Suppliers
Customers
Which of the following is NOT a type of vertical integration?
Unbalanced vertical integration
Balanced vertical integration
Forward vertical integration
Backward vertical integration
Which of the following represent the companies which prefer to follow rather than
challenge?
Market challenger
Market follower
Market nicher
Market leader
Financial summary of a marketing plan includes all EXCEPT:
Pro-forma income statement
Month-by-month agenda
Breakeven analysis
Assumptions
Which of the following 4Ps of marketing mix involves decisions regarding brand
images, sizes, warranties, returns, designs and features?
Product
Price
Promotion
Place
All of the following are the examples of unsought goods EXCEPT:
Course books
Encyclopedia
Funeral plots
Insurance policy
Identify which of the following is an aggressive strategy.
Intensification
Diversification
Harvesting
Vertical integration
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.
Material and parts
Consumer products
Industrial products
Capital items
Buying and selling of mass consumer goods and services comes under which of the
following markets?
Business markets
Global markets
Consumer markets
Government markets
Decisions regarding covering area of a product are included in which of the
following marketing strategy of a market plan?
Distribution
Promotion
Pricing
Product
Which of the following is NOT a part of financial summary?
Financial requirements
Pro-forma income statement
Margin analysis
Break-even analysis
Identify which of the following is an aggressive strategy.
Intensification
Diversification
Harvesting
Vertical integration
Which of the following is the period when sales fall off and profits drop?
Introduction
Growth
Maturity
Decline
Among the various elements, the brand name, belongs to which of the following?
Core product
Actual product
Augmented product
Specialty product
All of the following are the examples of unsought goods EXCEPT:
Course books
Encyclopedia
Funeral plots
Insurance policy
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
Business Analysis
A product is showing rapidly rising sales and profits are also high. Identify the
product is at:
Introduction stage
Growth stage
Maturity stage
Decline stage
Which of the following is usually the target of a market challenger?
Market nicher
Market leader
Market follower
Market segment
Which of the following is NOT a type of vertical integration?
Unbalanced vertical integration
Balanced vertical integration
Forward vertical integration
Backward vertical integration
Almost same shared above........
Tight cost control is associated with which of the following strategy?
Market segmentation strategy
Market dominance strategy
Differentiation strategy
Cost leadership strategy
Which of the following is NOT an external source of idea generation?
Top management
Competitors
Suppliers
Customers
Which of the following is NOT a type of vertical integration?
Unbalanced vertical integration
Balanced vertical integration
Forward vertical integration
Backward vertical integration
Which of the following represent the companies which prefer to follow rather than
challenge?
Market challenger
Market follower
Market nicher
Market leader
Financial summary of a marketing plan includes all EXCEPT:
Pro-forma income statement
Month-by-month agenda
Breakeven analysis
Assumptions
Which of the following 4Ps of marketing mix involves decisions regarding brand
images, sizes, warranties, returns, designs and features?
Product
Price
Promotion
Place
All of the following are the examples of unsought goods EXCEPT:
Course books
Encyclopedia
Funeral plots
Insurance policy
Identify which of the following is an aggressive strategy.
Intensification
Diversification
Harvesting
Vertical integration
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.
Material and parts
Consumer products
Industrial products
Capital items
Buying and selling of mass consumer goods and services comes under which of the
following markets?
Business markets
Global markets
Consumer markets
Government markets

Insurance service would BEST be described as which kind of a product?
Select correct option:
Convenience
Unsought
Specialty
Durable
Reference

1) In the _____, the firm faces a trade-off between high market share and high current
profit.
a. Growth stage
b. Decline stage
c. Maturity stage
d. Introduction stage

In which stage of the product life cycle does a product reach its peak sales?
a. Decline
b. Maturity
c. Introduction
d. Growth

Idea-reducing stage of new product development process is called as:
a. Idea generation
b. Idea screening
c. Product concept
d. Concept development

Which of the following is NOT an external source of idea generation?
a. Customers
b. Suppliers
c. Competitors
d. Top management

Which of the following is used to test the customer preference about the new
product design?
a. Business Analysis
b. Beta testing (beta testing is used to determine how consumers will react to the
product)
c. Conjoint analysis
d. Concept testing

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?
a. Business Analysis
b. Beta testing
c. Concept development
d. Commercialization

At which of the following stage of consumer adoption process the consumer decides
whether to use the product or not?
a. Awareness
b. Interest
c. Trial
d. Evaluation

Which of the following is NOT part of consumer adoption process?
a. Interest
b. Evaluation
c. Trail
d. Convenience

The purchase of which of the following items is least likely to be affected by
demographic factors?
a. Sugar (inelastic goods)
b. Computer
c. Fast food
d. Low fat cheese
For ———— product marketers should view packaging as a major strategic tool?
a. Industrial
b. Consumer convenience
c. Consumer shopping
d. Specialty

Which of the following is a strategy of using existing brand name to launch new
products in other categories?
a. Co- branding
b. Line extension
c. Brand extension
d. Multibranding