MGT301 MIDTERM PAPER SOLVED

MGT301

MIDTERM PAPER SOLVED

Question No: 1    ( Marks: 1 )    - Please choose one

 If XYZ Insurance Company observes a sudden increase in the number of farmers seeking flood insurance in Pakistan due to major floods in India, Which one of the following is representing flood situation for the company?

       ► Marketing opportunity        

       ► Marketing strategy

       ► Marketing concept

       ► Marketing threat

   

Question No: 2    ( Marks: 1 )    - Please choose one

 A marketing manager of a large consumer foods company is studying distribution, promotion, and price of the company's product. Marketing manager is studying which one of the following concepts?

       ► Marketing plan

       ► Marketing strategy

       ► Marketing mix

       ► Market offering

   

Question No: 3    ( Marks: 1 )    - Please choose one

 Which one of the following concepts is a useful philosophy in a situation when the product’s cost is too high and marketers look for ways to bring it down?

       ► Selling concept

       ► Product concept

       ► Production concept

       ► Marketing concept

   

Question No: 4    ( Marks: 1 )    - Please choose one

 The strategic marketing process is how an organization allocates its marketing mix resources to reach its:

       ► Stated business idea

       ► Target market

       ► Competition

       ► Area of expertise

   

Question No: 5    ( Marks: 1 )    - Please choose one

 Which one of the following is NOT a content of marketing plan?

       ► Budget

       ► Production

       ► Objectives

       ► Control

   

Question No: 6    ( Marks: 1 )    - Please choose one

 Beliefs and values that are passed on from parents to children and are reinforced by schools, churches, business and government refer to which of the following beliefs and values?

       ► Crucial

       ► Core

       ► Secondary

       ► Primary

   

Question No: 7    ( Marks: 1 )    - Please choose one

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

       ► Baby boomers

       ► Generation-X

       ► Generation-Y

       ► Echo boomers

   

Question No: 8    ( Marks: 1 )    - Please choose one

 Harvard University is using the systematic design, collection, analysis, and reporting of data relevant to marketing its programs to minority students. What do we call this?

       ► Promotion

       ► Self-study

       ► Marketing research

       ► Cost-benefit analysis

   

Question No: 9    ( Marks: 1 )    - Please choose one

 Which method of research can be used to obtain information if people are unwilling or unable to provide?

       ► Observations

       ► Focus groups

       ► Personal interviews

       ► Questionnaires

   

Question No: 10    ( Marks: 1 )    - Please choose one

 Experimental research is best suited for gathering which of the following information?

       ► Unknown

       ► Causal

       ► Complicated

       ► Interactive

   

Question No: 11    ( Marks: 1 )    - Please choose one

 General Motors need to assess the company's image relative to a new competitor. The time schedule is flexible, the research budget is very limited and a low response rate will not be a major problem. Which one of the following survey would be used by General Motors?

       ► Mail

       ► Telephone

       ► Personal interview

       ► Population

   

Question No: 12    ( Marks: 1 )    - Please choose one

 A person on the University Book Shop's survey asks respondents to tell the shop, in their own words, what they like least about textbook shopping. What is a type of this question?

       ► An open-ended

       ► A dichotomous

       ► A multiple choice

       ► A scale

   

Question No: 13    ( Marks: 1 )    - Please choose one

 In creating research questionnaires, which of the following is good advice for research specialist to follow?

       ► Use care in the wording and ordering of questions

       ► Questions do not have to be arranged in a logical order

       ► Ask personal questions in the middle of the instrument

       ► Avoid eye contact as it may confuse the respondents

   

Question No: 14    ( Marks: 1 )    - Please choose one

 How do consumers respond to various marketing efforts the company might use? What is a starting point of a buyer’s behavior?

       ► Belief

       ► Subculture

       ► Post purchase feeling

       ► Stimulus-response Model

   

Question No: 15    ( Marks: 1 )    - Please choose one

 Marketing stimuli consist of the four Ps. Which is NOT one of these Ps?

       ► Product

       ► Political

       ► Price

       ► Promotion

   

Question No: 16    ( Marks: 1 )    - Please choose one

 Which one of the following stage is NOT a part of buyer’s black box?

       ► Brand choice

       ► Product choice

       ► Need recognition

       ► Dealer choice

   

Question No: 17    ( Marks: 1 )    - Please choose one

 In a reference group, people having special skills, knowledge, personality, or other characteristics, exert influence on others. Which one of the following option refers to these people?

       ► Opinion leaders

       ► Habitual buyers

       ► Charismatic personalities

       ► Wild ducks

   

Question No: 18    ( Marks: 1 )    - Please choose one

 The factors such as the buyer’s age, life-cycle stage, occupation, economic situation, lifestyle, personality and self-concept that influences buyer’s decisions refers to which one of the following characteristic?

       ► Personal characteristics

       ► Psychological characteristics

       ► Behavioral characteristics

       ► Demographical characteristics

   

Question No: 19    ( Marks: 1 )    - Please choose one

 Unique psychological characteristics that lead to relatively consistent and lasting responses to one’s own environment refers to which one of the following?

       ► Belief

       ► Culture

       ► Personality

       ► Self-awareness

   

Question No: 20    ( Marks: 1 )    - Please choose one

 Maslow has a list of human needs from the most pressing to the least pressing. They include all of the following EXCEPT:

       ► Physiological needs

       ► Safety needs

       ► Need recognition

       ► Self-actualization

   

Question No: 21    ( Marks: 1 )    - Please choose one

 The buying process starts from which one of the following stage in which the buyer recognizes a problem or need?

       ► Need recognition

       ► Information search

       ► Evaluation of alternative

       ► Purchase decision

   

Question No: 22    ( Marks: 1 )    - Please choose one

 Which of the following is NOT a primary motivation?

       ► Achievement

       ► Self-esteem

       ► Self-expression

       ► Attitude

   

Question No: 23    ( Marks: 1 )    - Please choose one

 When the purchasing manager of ABC Company buys material and thread, he considers a variety of factors. Which one of the following is LEAST likely to concern the buyer in the purchase decision?

       ► Does the quality of the goods meet company specifications?

       ► Does the supplier consistently deliver on time?

       ► Does the supplier also sell to my competitors?

       ► Does the price meet the company budget requirements?

   

Question No: 24    ( Marks: 1 )    - Please choose one

 When a company identifies the parts of the market it can serve best and most profitably. Which one of the following factor is in the practice of a company?

       ► Concentrated marketing

       ► Mass marketing

       ► Targeted marketing

       ► Market segmentation

   

Question No: 25    ( Marks: 1 )    - Please choose one

 A firm has decided to localize its products and services to meet local market demands. Which one of the following approache is a good approach for this segmentation?

       ► Geographic

       ► Demographic

       ► Psychographics

       ► Behavioral

   

Question No: 26    ( Marks: 1 )    - Please choose one

 When Burger King targets different groups from children and teens to adults and seniors with different ads and media, it is practicing which one of the following segmentation?

       ► Demographic

       ► Age and life cycle

       ► Psychographic

       ► Behavioral

   

Question No: 27    ( Marks: 1 )    - Please choose one

 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

       ► Customer, technology, company, industry

   

Question No: 28    ( Marks: 1 )    - Please choose one

 “Segments of consumers having similar needs and buying behavior even they are located in different countries” refers to which of the following segmentation?

       ► International marketing segmentation

       ► Consumer marketing segmentation

       ► Business marketing segmentation

       ► Intermarket segmentation

   

Question No: 29    ( Marks: 1 )    - Please choose one

 Mass marketers, such as Target and Venture Stores, ignore market segment differences and target the whole market with one offer. What is their approach to segmenting?

       ► Undifferentiated marketing

       ► Differentiated marketing

       ► Target marketing

       ► Intelligent marketing

   

Question No: 30    ( Marks: 1 )    - Please choose one

 Most manufactured materials and parts are sold directly to which of the following categories?

       ► Consumers

       ► Industrial users

       ► Co-branders

       ► Wholesalers

   

Question No: 31    ( Marks: 1 )    - Please choose one

 Less frequently purchased consumer products and services which are compared by the customer on different product attributes, refers to which one of the following product?

       ► Specialty products

       ► Shopping products

       ► Unsought products

       ► Industrial products

   

Question No: 32    ( Marks: 1 )    - Please choose one

 Beyond quality level, high quality also can mean high levels of quality consistency. Here, “Freedom from defects and consistency in delivering a targeted level of performance” refers to which of the following qualities?

       ► Perceived quality

       ► Product quality

       ► Adherence quality

       ► Conformance quality

   

Question No: 33    ( Marks: 1 )    - Please choose one

 A period of rapid market acceptance and increasing profits refers to which of the following stages of the product life cycle?

       ► Decline

       ► Growth

       ► Maturity

       ► Introduction

   

Question No: 34    ( Marks: 1 )    - Please choose one

 McDonald's run advertisement featuring children, senior citizens and minority groups. What does this ad show?

       ► Company is product oriented

       ► Company considers only environmental factors

       ► Company has several target markets

       ► Company is market oriented

   

Question No: 35    ( Marks: 1 )    - Please choose one

 First National Bank launches an innovative in-home banking system tied to personal computers. The product is not widely accepted because bank customers don't see the need for such a service. Which one of the following is the best discretion of product failure?

       ► Establishment of a customer information system

       ► Organization structure

       ► Technological advancement

       ► Scanning corporate capabilities

   

Question No: 36    ( Marks: 1 )    - Please choose one

 Customer relationship management (CRM) focuses on creating two-way exchanges with customers so that firms have an intimate knowledge of their needs, wants and buying patterns. What does CRM deliver to customers for maintaining profitable customer relationships?

       ► Superior customer value

       ► Less expensive goods

       ► Quality products

       ► Variety of products

   

Question No: 37    ( Marks: 1 )    - Please choose one

 One of the contents of formal marketing plan that includes a market description, a product review, a review of competition and a review of distribution is called:

       ► Threats and opportunity analysis

       ► Objectives and issues

       ► Marketing strategy     

       ► Current marketing situation

   

Question No: 38    ( Marks: 1 )    - Please choose one

Marketing Information System consists of people, equipment, and procedures to gather, sort, _____, evaluate, and distribute information to marketing decision makers.

       ► Analyze

       ► Arrange

       ► Test

       ► Control

   

Question No: 39    ( Marks: 1 )    - Please choose one

 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?

       ► An image

       ► A service

       ► A good

       ► An idea

   

Question No: 40    ( Marks: 1 )    - Please choose one

 In BCG matrix, which one of the following SBUs finances the company’s question marks and stars?

       ► Dogs

       ► Stars

       ► Cash cows

       ► Question marks

   

Question No: 41    ( Marks: 10 )

 Being a marketing manager in a store you have been assigned a task to find out the reasons that why the sales volume is decreasing day by day.  How would you apply the concept of Marketing Information System (MIS) in this store and how it will work?