Composed & Solved Hafiz Salman Majeed VuAskari Team MIDTERM EXAMINATION Fall 2010 MKT501- Marketing Management

Transcription

1 MIDTERM EXAMINATION Fall 2010 MKT501- Marketing Management Question No: 1 ( Marks: 1 ) - Please choose one Companies that are involved in selling mass consumer goods and services are found in which of the following markets? Business markets Consumer markets (P#2) Global markets Government markets Question No: 2 ( Marks: 1 ) - Please choose one In a television advertisement a group of teenagers is searching for some cold drinks to quench their thrust. In their searching they find a shop and they purchase the soft drinks. The selection of cold drink appeals to consumers for liquid and attempts to shape consumers for the advertised product. Needs, preferences Wants, needs Needs, wants Want, preference Question No: 3 ( Marks: 1 ) - Please choose one As a marketer you want to use lower than normal prices as an ingredient in your firm s marketing strategy. The technique you would use is: Price lining Zone pricing Relative pricing Promotional pricing Question No: 4 ( Marks: 1 ) - Please choose one Identify the commercialization decision which includes decisions regarding locality, region, nationally or even internationally launching the product. Why to launch the product? How to launch the product? Where to launch the product? (P#30) When to launch the product Question No: 5 ( Marks: 1 ) - Please choose one Market-penetration pricing will likely to be used most in selling which of the following items?

2 Specialty Convenience Unsought Pharmaceuticals Composed & Solved Question No: 6 ( Marks: 1 ) - Please choose one Which of the following markets involve decisions such as: what country to enter in, how to enter, how to adopt their product and services and how to price? Consumer markets Business markets Global markets (P#2) Non profit markets Question No: 7 ( Marks: 1 ) - Please choose one Which of the following is NOT a distribution decision? Inventory management Personal selling (P#14) Warehousing Distribution centers Question No: 8 ( Marks: 1 ) - Please choose one Which of the following is a name, term, sign, symbol, design, or a combination of these, that identifies the product or service? Label Co-brand Brand Product Question No: 9 ( Marks: 1 ) - Please choose one Assumptions, pro-forma income statement, contribution margin analysis, breakeven analysis, ratios analysis must be very formally done in: Executive summary Financial summary (P#16) Promotional plan Business plan Question No: 10 ( Marks: 1 ) - Please choose one Standard Cable cut back advertising expenditures to minimum level and reduced the number of channel members for its industrial cable product. These actions are indicative of a product in which of the following stage of its life cycle?

3 Introduction Growth Maturity Decline Composed & Solved Question No: 11 ( Marks: 1 ) - Please choose one Using one brand name for several related products is known as which of the following? Family branding (P#36) Group branding Combination branding Premium branding Question No: 12 ( Marks: 1 ) - Please choose one Customer cost will be considered as which of the following Ps of marketing mix? Product Price Place Promotion Question No: 13 ( Marks: 1 ) - Please choose one Products that are usually purchased due to adversity and high promotional back up rather than desire are called: Sought goods Unique goods Unsought goods (P#8) Preferred goods Question No: 14 ( Marks: 1 ) - Please choose one All are the expression of marketing concept EXPECT: Meeting needs profitably Find wants and fill them Sell what is produced Love the customer, not the product Question No: 15 ( Marks: 1 ) - Please choose one Diversification is best described as which of the following? Existing products in new markets Existing products in existing markets New products for new markets New products Question No: 16 ( Marks: 1 ) - Please choose one

4 Tarang milk is an example of which of the following? Corporate brand Co-brand Individual brand Family brand Question No: 17 (Marks: 1) - Please choose one A business wants to create the awareness about the features and befits of the product in the market. Which of the following decisions are important to achieve the goal? Price decisions Place decisions Promotion decisions (P#14) Product decisions Question No: 18 ( Marks: 1 ) - Please choose one The loyalty marketing focuses on establishing long term relationship between: Company and retailer Retailer and customer Retailer and consumer Company and customer (P#4) Question No: 19 ( Marks: 1 ) - Please choose one Which of the following is NOT an ancillary service? Warranty Installation Delivery Labeling (P#6) Question No: 20 ( Marks: 1 ) - Please choose one When company extensive use of marketing segmentation? Introduction Growth Maturity Decline Question No. 21 ( Marks: 1 ) - Please choose one Soap is an example of which of the following goods? Unsought Specialty Convenience Shopping Question No. 22 ( Marks: 1 ) - Please choose one

5 Which of the following is NOT a use of secondary packaging? (a) It is recyclable and environmentally safe (b) It facilitates transportation, storage, and handling for middlemen (c) It can not be reused for purposes other than its initial use (d) It can be used as a promotional tool Question No. 23 ( Marks: 1 ) - Please choose one The building, holding, and harvesting are the types of: a) Market dominance strategy b) Innovation strategy c) Aggressiveness strategy (P#17) d) Diversification strategy Question No. 24 ( Marks: 1 ) - Please choose one A company wants to maximize market share, assuming that market is price sensitive. What pricing strategy you would suggest for the company to achieve this objective? (a) Cost- oriented pricing (b) Skimming pricing (c) Premium pricing (d) Penetration pricing (P#45) Question No. 25 ( Marks: 1 ) - Please choose one Typically High priced and frequently used goods are? Convenience goods Shopping goods Unsought goods Specialty goods 3 MCQs were Situation based and every long don t remember Question No. 29 ( Marks: 3 ) Difference between Product idea and Product Concept Question No. 30 ( Marks: 3 ) - Please choose one Why price war is not beneficial for small companies? Price was is state of intense competition over the price of product One competitor reduce the price other will lower its price to match and then a cycle of price reduction starts. Which can leads of selling of product below the cost. Normally smaller companies cannot compete and shut down. Typically the smaller more marginal firms will be unable to compete and will shut down. The remaining firms absorb the market share of the terminated ones. The main losers

6 then, are the marginal firms and the People that invested in them. Question No: 31 ( Marks: 5 ) List any five characteristics of a good brand name. A good brand name should: Be legally protectable Be easy to Pronounce Be easy to Remember Be easy to Recognize Attract Attention Suggest product Benefits (e.g.: Easy-Off) or suggest usage Suggest the company or product Image Distinguish the product's Positioning relative to the competition. Question No: 32 ( Marks: 5 ) The first step in the product development process is generation of ideas. Discuss what the internal and external sources of ideas are. Why external sources are considered to the more important than internal source? Internal sources: New products ideas can come from several sources. They may come from internal sources marketing managers, researchers, sales personnel, engineers, or other organizational personnel. Brainstorming and incentives or rewards for good ideas are typical intrafirm device for stimulation the development of products ideas. External sources: Direct observation of competitors' products, customers' evaluations of their product features, and the grapevine of suppliers and other who serve competitors often contributes ideas. External sources are more important as compare to internal sources as internal sources are only based on employees and external sources are based on information from market situation, external idea sources are highly valued in new product development literature.