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1 MGT301 - Principles of Marketing Stew Leonard, owner/operator of supermarkets, reacts adversely to losing a single customer sale. He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if he/she remains in the area. Which one is an illustration of the following concepts? Market share Profitability Customer lifetime value Market share maintenance Which one of the following is a key to build lasting relationships with consumers? Price of the product Need recognition Customer satisfaction Quality of product Agencies that buy goods and services in order to produce public services or transfer them to those that need them reflect which of the following markets? Reseller markets Government markets International markets Business markets Which of the following is the most basic cause of a person s wants and behavior? Culture Brand personality Cognitive dissonance New product Which one of the following attribute may grab attention and produce pleasing aesthetics, but it does not necessarily make the product perform better? Design Style Variable Packaging Page 1 of 6

2 Which one of the following factor indicates "the name, term, sign, symbol, design or a combination of these that differentiate the product of one seller or group of sellers from the other sellers"? Brand Package Label Style In which of the following cases two established brand names of different companies are used on the same product? Brand extension Brand equity Co-branding Cannibalization If BATA Company Ltd. has slow sales growth, profits are nonexistence and there are heavy expenses incurred. Which of the following stage is being faced by the BATA? Introduction Growth Maturity Decline 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 Concentric integration Product development Suppose marketers at Lever Brothers are trying to determine whether the use of coupons for detergent was the reason for a sales increase in a particular store. What type of study conducted to answer this question? Exploratory Descriptive Causal Qualitative Demographic forces, Economic forces, Natural forces, Technological forces are included in the company s: Marketing environment Page 2 of 6

3 Microenvironment Macroenvironment Companies are refraining to use poisonous gases in the manufacturing of their products to prevent damage to the environment. The companies are trying to follow: Production Concept Product Concept Marketing Concept Societal Marketing Concept What are we going to do? And, how are we going to do it? In which of the following categories do these two questions fall? Researching Planning Controlling Managing Which of the following is the BEST description of a cash cow? Low-share business units in high-growth markets High-growth, high-share businesses or products High-growth, highly fragmented business units Low-growth, high-share businesses or products Which of the following environment is made up of institutions and other forces affecting society s basic values, perceptions, preferences and behaviors? Cultural environment Fictitious environment Natural environment Political environment To develop effective marketing programs, companies need information on which of the following? Consumers Competitors Resellers The disadvantage of observational research is: Information cannot be gained by observing relevant people Feelings, attitudes and motives cannot be observed Page 3 of 6

4 It cannot be used to obtain information that people are unwilling or unable to provide The Potharis and the Seraikis in Punjab are examples of: Culture Sub culture Social class Which of the following are NOT consider to be stimuli that enter as inputs into the model of buyer behavior? Cultural Factors Economic Factors Marketing Mix Post purchase Behavior There has been a decline in sales of ABC company. The decline in sales was caused due of financial crisis and the loss of purchasing power of the consumers. The factor which is affecting consumer purchase in this case is: Economic Social Occupational Lifestyle Which of the following is NOT one of the bases of segmentation? Geographic Demographic Income Physiological Products which require a considerable amount of search behavior are called: Specialty Products Shopping Products Convenience Products Unsought Products If two parties exchange good(s) or service(s) based on some terms and conditions, it is called as: Competition Transaction Page 4 of 6

5 Relationship Need The marketing concept expresses the company's commitment to: Organizational goals An integrated company effort Consumer sovereignty The selling concept is typically practiced for goods. Convenience Shopping Specialty Unsought Which of the following options indicate a company s macro environment? Customers, employees, board of directors and share holders Economic, natural, technological, political and social Suppliers, wholesalers, retailers and distributors Production, raw material, labor and quality Why is the legislation of the business considered important? To protect consumers To protect companies from each other To protect the interest of the society Which one of the following sets reflects the marketing strategy statement in new product development? Idea generation; idea screening; concept development Idea generation; concept development; concept testing Target market description; planned product positioning; sales goals Idea generation; test marketing; commercialization Briefly describe difference between labeling and packaging? A researcher has to design a questionnaire. Give your suggestion on how the researcher should construct his questions? Page 5 of 6

6 It is said that gathering secondary information is one of the important components of developing the research plan. Why secondary data collection is important and what could be the possible problems in collecting secondary data? The product passes through different stages once launched in the market. Discuss the Product Life-Cycle Stages in detail. Page 6 of 6