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1 MGT301 - Principles of Marketing When Olympia Carpets develops new carpets that are highly stain resistant and durable, it must educate consumers about the product's benefits. This activity calls for which one of the following marketing mix variables? Price Promotion Distribution Product Any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor reflects which one of the following concepts? Sales promotion Direct marketing Advertising Personal selling Which one of the following statements BEST characterizes marketing research? Research is a continuous process, providing a constant flow of information Research is conducted on a special-project basis Research is performed when routine information is required Research is the basis for making recurring marketing decisions The mental act, condition or habit of placing trust or confidence in another shows which of the following options? Motive Belief Behavior Attitude Most organizational purchase decisions are made by which of the following categories? Inventory control personnel The sales force A team of purchasing agents A firm's buying centre Page 1 of 6

2 The receptionist at a doctor's office throws away certain product circulars mailed by pharmaceutical companies and keeps the ones on products she believes are useful. The receptionist is performing which role in the buying centre? Influencer Buyer Decider Gatekeeper Which of the following are those products purchased for further processing or for use in conducting a business? Unsought products Specialty products Shopping products Industrial products Which one of the following concept BEST represents the involvement of management and employees in the continuous improvement of the production of goods and services? Total quality management Marketing management Customer relationship management Knowledge management Which of the following marketing mix activity is most closely associated with newsletters, catalogues and invitations to organization-sponsored events? Pricing Promotion Distribution Product In a company division, a product line within a division, or sometimes a single product or brand reflects which one of the following options? Market BCG SBU Initiator Page 2 of 6

3 Finance, research and development, purchasing and manufacturing all are the activities of which element of the micro environment? Suppliers Retailers Companies Publics Which one of the following characteristics is NOT a requirement for effective segmentation? Differential Achievable Accessible Measurable Customer relationship management helps to deliver: Superior Customer Value Customer Loyalty Customer Satisfaction In a marketing plan analyzing and reviewing the product, competition, market and the distribution is included in Threats and opportunity analysis Objectives and issues Marketing strategy Current marketing situation Which of the following statements regarding the natural environment is FALSE? Weather has become less intense in the previous few years Increased pollution is a major concern for marketers today Global warming is a major issue for marketers to deal with today The threat of governmental intervention in natural resource management is a major issue for marketers Which environmental factor is made up of institutions and other forces that affect a society s basic values, perceptions, preferences, and behaviors? Technological Political Demographic Cultural Page 3 of 6

4 In a reference group, people who have special skills, knowledge, personality, or other characteristics, and exert influence on others are called: Opinion leaders Habitual buyers Charismatic personalities Wild ducks All of the following are characteristics which make up the actual product EXCEPT: Quality level Brand Name Features After-sales services Shakeel just moved into a new city. He is a very successful man and would like to purchase a luxurious car and designer clothes. These products are examples of: Convenience Products Shopping Products Specialty Products Unsought Products The positive differential effect that knowing the brand name has on customer response to the product or service is known as Brand Equity Brand Positioning Brand Loyalty None of the given Toyota is developing an electric car, powered by solar energy. They are currently working on several alternatives of the car and need to find out which version of the car prospective customers find most appealing. This is an example of the stage of the product development process. Idea generation India screening Concept development Page 4 of 6

5 It is said by most of the marketers that the cost of attracting a new customer is higher than keeping a current customer satisfied. 50 to 60 times 100 times None of the given option 5 to 10 times Which of the following steps in strategic planning occurs at the business unit level rather than at the corporate level? Defining the company mission Planning marketing strategies Setting companies objectives and goals Designing the business portfolio 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 Why is it important for companies to get updated marketing information? In order to deliver customer value and satisfaction To identify potential new products To ensure that products meet the customer s perceived value The firms that buy goods and services in order to produce products and services are called: Business markets Consumer markets International markets None of the given options At the maturity stage of the life cycle, the company has an opportunity to prolong the life of its products in many ways. When a company tries to, the company is trying to increase the consumption of the current product. Substitute the product Modify the distribution channel Modify the market Modify the product Page 5 of 6

6 Suppose you are a manufacturer of food products. You believe that your milk line and bread line is of superior quality and taste but there is less sales of both lines. What might be the reasons behind it? Packaging is one of the elements of the product decision mix. Briefly describe this concept with the help of a real life example. What would a researcher need to know about drawing conclusions about large groups of consumers by studying a small sample of the total population and how many kinds of samples will be studied by researcher? Industrial products are those purchased for further processing or for use in conducting a business. These products have been categorized into three groups. What do you know about these groups of industrial products? Page 6 of 6