Through which process individuals and groups obtain what they need and want by creating and exchanging products and value with others?
► Production process
► Marketing process
► Managerial process
► Accounting process
Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to which of the following options?
► Customer perceived value
► Marketing myopia
► Customer relationship management
► Customer satisfaction
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?
Inelastic demand in industrial markets refers to which of the following situation?
► Demand for a given product fluctuates very little over time.
► Price increases or decreases will not significantly alter demand for a given product.
► The demand for one product depends heavily on the demand for another product.
► Supply for a given product cannot keep up with the demand for it.
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
► Fluctuating
Which one of the following statements BEST describes the concept of Price?
► The value that is exchanged for products in a marketing transaction
► Always money paid in a marketing transaction
► More important to buyers than sellers
► Usually the most inflexible marketing mix decision variable
Which one of the following pricing method is the simplest pricing method?
► Value-based
► Fixed cost
► Cost-based
► Skimming
Which might be the effect of a successful price increase on profits?
► Profit can decrease
► No change observed in profits
► Infinite change in profits
► Profit can increase
Which of the following is considered as huge superstores, perhaps as large as six football fields?
► Hypermarket
► Department store
► General merchandise retailer
► Discount store
Slow feedback, high costs and difficulty in measuring effects on sales are disadvantages of which one of the following promotion mix ingredient?
► Public relations
► Sales promotion
► Personal selling
► Advertising
Two-way personal communication between salespeople and individual customers, whether face-to-face, by telephone, through video or web conferences or by other means, refers to which one of the following?
► Advertising
► Persuasive selling
► Personal selling
► Publicity
There are three typical types of sales force structures. Which one is often supported by many levels of sales management positions in specific geographical areas?
► Territorial
► Customer
► Complex systems
► Matrix
In contrast to vending machines which dispense only products, there are other systems that dispense information and take orders without direct human aid. This system refers to which one of the following options?
► Kiosks
► TV monitors
► The internet
► Cell phones
All of the following functions are performed by public relations department EXCEPT:
► Direct marketing
► Product publicity
► Lobbying
► Public affairs
Which one of the following authorities might use several tools like news, speeches and special events for the marketing purpose?
► Advertising agencies
► Advertising specialists
► Public relation professionals
► Computer programmers
Which one of the following are low-growth, low-share businesses and products (they may generate enough cash to maintain them, but do not have much future)?
► Dogs
► Cash Cows
► Stars
► Question Marks
Which one of the following characteristics is NOT a requirement for effective segmentation?
► Differential
► Achievable
► Accessible
► Measurable
The selection of appropriate media is based upon all of the following factors EXCEPT:
► Media habits of target consumers
► The type of message
► Nature of the product
► Demand of the product
Why would consumers be 'antipathetic ' towards a brand following an advertising campaign?
► Consumers do not develop any liking for the product
► Message does not triggers undesirable interpretation
► Message is not poorly targeted
► Consumers develop any liking for the product
Product 
cost 
price value customer
This is related to which of the following pricing?
► Value based pricing
► Cost based pricing
► Competition-based Pricing
► Going-rate pricing
Customer Value Price Cost Product
This is related to which of the following pricing?
► Going-rate pricing
► Cost based pricing
► Value based pricing
► Competition-based Pricing
Identify the main advantage of telemarketing as a direct-response approach?
► Personal
► Flexibility
► Visualization
► Cost
Which of the following is the most significant disadvantage of publicity as a promotional tool?
► Publicity is expensive
► Publicity is viewed as being biased
► Publicity isn't believable to many people
► Publicity isn't controllable by the company
A promotion strategy that is used to increase sales and trade promotion to move the product through channels is called?
► Push strategy
► Pull strategy
► Blocking strategy
► Integrated strategy
A consumer contest is an example of which of the following?
► Personal selling
► Sales promotion
► Advertising
► Public relations
As a result of which strategy consumer will ask their retailers for the product, the retailer will ask the wholesalers and wholesalers will ask the producers?
► Push strategy
► Pull strategy
► Production strategy
► Operational strategy
Which of the following is NOT one of the major logistics functions?
► Order processing
► Cost reduction
► Warehousing
► Inventory management
Which of the following is part of the four competitive positions?
► Market positional
► Market observer
► Market controller
► Market follower
With reference to E-Marketing, which one of the following can be used to increases company profitability?
► Technology
► Virtual business
► Market positioning
► Brand awareness
Which of the following source of internet can be used to coordinate the consumers and producers?
► Websites
► Search engines
► Chat rooms
All of the following are the primary criticisms leveled at the marketing function by consumers, consumer advocates and government agencies EXCEPT:
► Shoddy or unsafe products
► Planned obsolescence
► Poor service to disadvantaged consumers
► False wants and too much materialism
Which one of the following is NOT the primary criticism leveled at the marketing function by consumers, consumer advocates, and government agencies?
► Deceptive practices
► High-pressure selling
► Shoddy or unsafe products
► Too much political power
Greedy intermediaries who mark up prices beyond the value of their services, comes under which of the following factors of harming consumers through high prices?
► High cost of distribution
► High advertising and promotion cost
► Excessive markup
► High pressure selling
Which of the following options include practices such as falsely advertising "factory" or "wholesale" prices or a large price reduction from a phony high list price?
► Deceptive pricing
► Excessive markup
► High advertising cost
► High promotion cost
If your competitor has cut the price of its product and it is affecting the sale of your product and profit margin of your company, then you might decide to take some action. Which of the following action will your company take in this situation?
► Close your business
► Raise perceived quality
► With draw your product
► Hold the same price
Most other forms of promotion are used in moving the customer closer to the sale but which of the following results in the actual sale?
► Direct marketing
► Personal selling
► Advertisement
► Sales promotion
According to Peter Drucker goal of all organizations is to gain and retain customers. This is accomplished through:
► Marketing and Innovation
► Finance and Marketing
► Human resource and Marketing
► Finance and Human Resource
McDonald runs an advertisement featuring children, seniors, 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
The steps comprising the marketing control process in ascending order are:
► Measure performance – evaluate 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
Growing up in a society, a person learns basic values, perceptions, wants, and behaviors from:
► Family
► Reference groups
► School
► All of the given options
Which of the following statements regarding business marketing is TRUE?
► Business marketers normally work with far fewer but larger buyers than do consumer marketers
► Business marketers normally work with far smaller, but many more buyers than do consumer marketers
► Business marketers most often market products to end users
► None of the given options
Business demand is usually ____________.
► Derived
► Steady
► Predictable
► Unpredictable
Identify the ways that a company can lengthen its product line.
► Line stretching and line filling
► Line stretching and product width
► Line filling and product line development
► All of the given options
How long does the product maturity stage last?
► Longer than previous stages
► 2 months
► 1 month
► 3 months
Marketing Strategy of a firm is its __________ factor.
► Internal
► External
► Neutral
► None of the given
__________ is the act of setting prices for customers located in different parts of the world.
► Geographic Pricing
► Cost based Pricing
► Value based Pricing
► None of the given option
Cash and Carry is a type of:
► Limited Wholesalers
► Agents
► Brokers
► None of the given option
Producer and _________ are the basic elements of marketing.
► Consumer
► Retailer
► Manufacturer
► Shop keeper
Who are competitors? Briefly explain your answer.
Long question
Define, how or why direct marketing is getting more and more in use?
In this case consumer is satisfied and company is making profit.
How to avoid 'decline of a product'? What initiatives and decisions should be taken by the management to avoid this kind of situation?
Use more effective advertising techniques
What is meant by outbound and inbound distribution and what are the benefits of both these distribution?
What is the difference between Order getting and Order taking?
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