mgt 301 second quiz solution

1.Q: _________ is the process of analyzing market opportunities, selecting target markets, developing the market mix and managing the marketing effort.

Marketing process

Marketing planning

Strategic planning

Corporate planning process

2.Q: The marketing mix of tangible products includes all, EXCEPT:

Product

Price

People

Promotion

3.Q: Which of the following characteristics should not be included in mission statement?

Be realistic

Be broad

Be specific

Be motivating

4.Q; The marketing research process includes all, EXCEPT:

Defining the problem

Developing the research plan

Making critical decisions

Reporting the findings

5.Q: Primary data must be Accurate, unbiased, current, and :

Complete

Relevant

Inexpensive

Collected before secondary data

6.Q: Which one of the following statement is not include in marketing process

Analyzing marketing opportunities

Selecting target market

Company’s mission statement

Developing marketing mix

7.Q: Which of the following three psychographic dimensions are MOST commonly used in market segmentation?

Personality, perception and learning

Personality, perception and behavior

Motives attitudes and lifestyles

Personality, social class and lifestyles

8.Q: Which of the following set refers to the order of action in marketing control process?
Performance – corrective action – set goals

Corrective action – set goals - measure performance – evaluate performance

Set goals - Measure performance – evaluate performance - corrective action

Set goals - Measure performance – corrective action – evaluate performance

9.Q: The strategic planning process consists all, EXCEPT:

Developing mission and vision

Defining objectives

Defining organizational structure

Formulating marketing strategy

11. The business portfolio is analyzed with the help of _______.

Product life cycle
new product development
BCG growth share matrix
Strategic market analysis

12. Porter’s Five Forces Model best describes about:

Bargaining power of supplier
Threat of new entrant
Rivalry
All of the given options

13. Interwood is a famous brand in the world of furniture making. It is well known due to its different and unique designs of sofa set and doors of room etc. You are planning to purchase the latest design of dinning table from Interwood. Here dinning table serves which of the following type of product?

Convenience product
Shopping product
Unsought product
Specialty product

14. Consumer market can be segmenting in how many ways?

1
2
3
4

15. A famous shop offers “Kulfa for One” to small households. In this case, the firm is conducting segmentation based on:

Family life cycle
Taste
Income
Age

16. The marketing management philosophies includes all, EXCEPT:

Production concept
societal marketing concept
selling concept
Portfolio concept

17. TV ads, radio ads and hoarding are the means to create awareness among customers. These are the part of?

Positioning
Promotion
Selling'
Distributing

18. Which form of data can usually be obtained more quickly and at a lower cost?

Primary
Tertiary
Secondary

19.Q:Which of the following is a physical, concrete product that you can touch?

·         A service

·         A good

·         An idea

·         A philosophy

·          

20.Q:In SWOT analysis, threats and opportunities are part of which of the following environment?

·         Internal

·         Inside

·         External

·         Domestic

Which of the following SBUs are not the types of SBU

·         Stars

·         Cash cows

·         Cats

·         Dogs

The objective of marketing system is to:

Stimulate maximum consumption

·         Maximize consumer satisfaction

·         Maximize variety and choice

·         Maximize variety and choice

·         All of the given options

The concept of mass marketing died in?

·         1980s

·         1090s

·         2000s

·         1970s

Interwood is a famous brand in the world of furniture making. It is well known due to its different and unique designs of sofa set and doors of room etc. You are planning to purchase the latest design of dinning table from Interwood. Here dinning table serves which of the following type of product?

·         Convenience product

·         Shopping product

·         Unsought product

·         Specialty product

In simple marketing system producers provide ……… to consumers

·         Money

·         Services

·         Feedback

·         Profit

When a company caters to clothing, cosmetics and toiletries markets, it is probably using which type of segmentation?

·         Age and life cycle

·         Gender

·         Behavior

·         Geographic

Millat tractor has contributed a lot in developing different types of tractors for farmers. It has purchased different parts of tractors from spare parts market to manufacture tractors. Spare parts market is served as which of the following market for Millat Tractors?

·         Consumer Market

·         Business Market

·         Reseller Market

·         Government Market

Which one of the following contact method is used to collect a large amount of information at a low cost?

·         Mail questionnaires

·         Telephone interviews

·         Personal interviews

·         Research instruments

Selecting the right competitive advantage is part of which one of the following concepts?

·         Target marketing

·         Market Positioning

·         Market segmentation

·         Undifferentiated Marketing

Under which one of the following strategies a company can introduce present products to the new market in order to achieve the higher profit margin and sales?

·         Product development

·         Market development

·         Market penetration

·         Diversification

Market is a set of potential and actual ______ of a product.

·         Sellers

·         Buyers

·         Distributors

·         Wholesalers

Which of the human wants are backed by buying power?

·         Needs

·         Wants

·         Demands

·         Exchange 

Ford Motors is producing a new van with four-wheel drive. Identify on which of the following basis they will segment their markets for this new model?

·         Religion

·         Age

·         Income

·         Race

What is far more important for a company?

·         To attract new customers

·         To retain existing customers

·         To create awareness

·         To compete with its competitors

ABC organization deals in poultry feed and purchase poultry feed from all over the Punjab Province Pakistan. It is now planning to install a urea plant in its locality. For that purpose, it purchases the machinery from selected suppliers. The purchase of machinery represents which one of the following purchases?

·         Straight rebuy

·         Modified rebuy

·         New task

·         All of the given options

In BCG matrix, ______ requires a lot of cash to hold their share.

·         Cash cow

·         Dog

·         Question mark

·         Star

In international marketing research, a common problem which marketers may have to face is the availability of which one of the following?

·         Primary data

·         Research specialists

·         Secondary data

·         Intelligence limitations

Which one of these combinations is best describe the level of products and services?

·         Core product, actual product and durable product

·         Actual product, augment product and nondurable produc

·         Durable product, nondurable product and pure service

·         Core product, actual product and augment product

Ali Textile Mills is dealing in Denim fabrics in Rawalpindi and it uses extensive marketing strategies to grow in Rawalpindi market. This strategy for growth falls under which of the following?

·         Market Development

·         Product Development

·         Market Penetration

·         Diversification

A famous shop offers “Kulfa for One” to small households. In this case, the firm is conducting segmentation based on:

·         Family life cycle

·         Taste

·         Income

·         Age

The product concept remained applicable in which of the following era:

·         1920-1950

·         1940-1980

·         1920-1940

·         1920-1960

ABC Company’s strategy of cutting prices on its cigarettes to enlarge its market share in the increasingly competitive tobacco industry refers to which of the following strategies?

·         Market development

·         Market penetration

·         Product penetration

·         Concentric integration

Which form of data that already exist somewhere and can be obtained more quickly and easily even at lower cost?

·         Primary

·         Census

·         Secondary

·         Syndicated

Virtual University of Pakistan is using the systematic design, collection, analysis, and reporting of data relevant to marketing its new undergraduate and graduate programs to minority students. What do you call this?

·         Promotion

·         Marketing research

·         Cost-benefit analysis

·         Identifying the target market

 “Gathering secondary information” is one of the step comes under “developing the research plan” (The second step of marketing research process). How would you define the “secondary information in marketing research”?

·         Information that already exists somewhere in an organized form

·         Information that does not currently exists in an organized form

·         Information that already exists somewhere, having been collected for another purpose

·         Information that the researcher can obtain through observation and surveys

Under which one of the following strategies a company can introduce present products to the new market in order to achieve the higher profit margin and sales?

·         Product development

·         Market development

·         Market penetration

·         Diversification

With relevance to 4P’s versus 4C’s the product matches with which of the following option?

·         Customer cost

·         Convenience

·         Customer solution

·         Customer care

In summer season, WAPDA used to place ads on the electricity bill to promote the less usage of electricity. In Marketing Management perspective what is this called?

·         Demand Management

·         Demarketing

·         Electricity marketing 

·         management 

Which one of the following represents large growing kid and teen market?

·         Baby boomers

·         Generation-X

·         Generation-Y

·         Echo boomers

Which of the following shows the stage of customer delighters?

·         Ali has purchased bicycle and his expectations are fulfilled

·         Ali has purchased bicycle and his expectations are not fulfilled

·         Ali is thinking of having a bicycle but he won the car in lucky draw

·         Ali has purchased bicycle and his expectation are fulfilled more than he has expected

Which public take developments into account on larger scale?

·         Financial publics

·         Media publics

·         Government publics

·         Citizen-action publics

Honda focuses on quality products, performance and features. It holds which of the following concept?

·         Production concept

·         Product concept

·         Marketing concept

·         Total Quality Management

The checking of ongoing performance against the annual plan is the part of which of the following options?

·         Strategic control

·         Operating control

·         Marketing control

·         Marketing audit

________ is a set of controllable marketing variables that a firm wants to select to satisfy the needs of target market.

·         Marketing mix

·         Marketing plan

·         Marketing strategy

·         None of the given options

_______ is the combination of products, services, information or experiences offered to a market to satisfy a need or want?

·         Marketing plan

·         Marketing offer

·         Marketing strategy

·         None of the given options

Products that are used directly in the production of a final product but are not easily identifiable are categorized as which one of the following?

·         Component parts

·         Consumable supplies

·         Assembly components

·         Process materials

Company XYZ is offering modified or new products to its current market segments. Company XYZ is applying which of the following strategy for growth?

·         Product development

·         Market development

·         Market penetration

·         Diversification

Mr. Sajid is confused about using the marketing research process. He seems to be having problems in one of step which is often considered as the hardest step to take. You are required to identify this step?

·         Defining the problem

·         Defining the research objectives

·         Defining the problem and research objectives    (conform page no  52)

·         Researching a research agency to help

Which of the following phase of marketing research process is considered MOST expensive and subject to erro?

·         Hypothesis

o    Exploratory research

o    Data collection                Conform page no 58

o     Data validation

apple wanted to launch new brand with latest technology in Pakistan. Which of the following option is the first step before launching and manufacturing of product?

·         Marketing research   not sure

·         Assessing information needs

·         Marketing intelligence

·         Marketing plan

The fact that organizational customers purchase products to be used directly or indirectly in the production of goods and services to satisfy customers' needs. This situation shows which of the following demands?

·         Joint

·         Derived

·         Inelastic

·         More fluctuating

·         Which of the following option involves in collecting information that is relevant to specific problem of the organization?

·         Marketing intelligence

·         Marketing research   conform page no 52

·         Marketing analysis

·         Internal records

Unilever Pakistan wants to know the causes of decline in sales of its “Vim washing liquid” in Sindh province. What type of research study would be more appropriate for Unilever Pakistan?

·         Exploratory Research

·         Descriptive Research

·         Causal Research     page no 55

·         or all

One of your colleagues wants to use secondary data exclusively for his current research project. You advised him that the use of secondary data may also have some potential problems. Which one of the following is not one of them?

·         It may not exist

·         All of the needed data is rarely available

·         It is generally more expensive when purchased from the government

·         It may not be useable

Defining the problem and research objectives; developing the research plan; collecting information; analyzing the information; and presenting the findings, these are steps of which of the following steps?

·         Marketing survey

·         Marketing intelligence

·         Marketing research    conform

·         Marketing study

People usually change their buying habits time by time because of the two important factors. Identify these factors.

·         Belief and attitude

·         Perception and personality

·         Age and life-cycle stage    page 66 conform

·         Family and tradition

Might have contributed to this decline, it is in which stage of the marketing research process?

·         Hypothesis development

·         Symptom identification

·         Problem identification    conform

·         Data interpretation

Demographic segmentation divides the market into groups based on which of the following variables?

·         Size, location, industry, customer

·         Size, company, industry, technology

·         Location, size, occupation, race     conform

·         Customer, technology, company, industry