MKT501- Marketing Management Final Term Solved Papers By

MKT501- Marketing Management Final Term Solved Papers By http://vustudents.ning.com MKT501- Marketing Management (Session - 3) Marks: 84 Question No: 1 ( Marks: 1 ) - Please choose one Results from the research that have already been conducted are displayed in which of the following part of marketing plan? Marketing strategies Executive summary Appendix Financial summary Question No: 2 ( Marks: 1 ) - Please choose one Critical path analysis is a part of which of the following? Implementation stage Marketing strategies Executive summary Financial summary Question No: 3 ( Marks: 1 ) - Please choose one A market leader firm can expand the total market through: Decreasing distribution of the product Introducing the new usage of the product Eliminating some features of product Increasing cost Question No: 4 ( Marks: 1 ) - Please choose one Which of the following stage of product life cycle is most expensive? Introduction Growth Maturity Decline Question No: 5 ( Marks: 1 ) - Please choose one Which of the following is the spread of idea from the source of invention to the ultimate user or consumers? Innovation adoption process http://vustudents.ning.com 1

Innovation diffusion process Adoption process New product recognition Question No: 6 ( Marks: 1 ) - Please choose one When two or more well known brands are combined in an offer it is called: Private brand Multibrands Co-brand New brand Question No: 7 ( Marks: 1 ) - Please choose one All of the following are true about price EXCEPT: Price is independent of the other elements of the marketing mix Price is the monetary value of a product Price is most flexible tool in the marketing mix Price is marketing mix element which produces revenue Question No: 8 ( Marks: 1 ) - Please choose one ABC Company priced the product as of Rs. 19.99 instead of Rs.20. Which of the following pricing techniques is ABC Company using? Dodging pricing Deceptive pricing Premium pricing Psychological pricing Question No: 9 ( Marks: 1 ) - Please choose one Which of the following method is mostly used in the retailing? Courier service Online shops Self-service Counter-service Question No: 10 ( Marks: 1 ) - Please choose one Which of the following is price reduction offered when an order is placed in slack/drooping period? Cash discount Trade discount Quantity discount Seasonal discount for more contents visit Question No: 11 ( Marks: 1 ) - Please choose one Which of the following discourages the entry of competitors as well as low prices act as a barrier to entry? Cost-orientated pricing Psychological pricing http://vustudents.ning.com 2

Penetration pricing Market skimming pricing Question No: 12 ( Marks: 1 ) - Please choose one What will be the average cost per unit if a firm produces 500 units at cost of Rs.100, 000? 200 150 100 50 Question No: 13 ( Marks: 1 ) - Please choose one Management at ABC electronics has introduced the product at high price. Identify the type of pricing ABC electronics is using. Odd-even Skimming Penetration Psychological Question No: 14 ( Marks: 1 ) - Please choose one Which of the following is the best example of a product that is suitable for sampling? Lawn furniture Leather briefcase Ceiling fan Shampoo Question No: 15 ( Marks: 1 ) - Please choose one Identify the sales promotion technique in which price of a popular product is temporally reduced to stimulate profitable sales. Coupons Free samples Contests Loss leader Question No: 16 ( Marks: 1 ) - Please choose one While reading a newspaper you have found a coupon booklet inserted in the newspaper. Identify the type of sales promotion technique. Coupon Free sample Price-pack deal Free-standing insert Question No: 17 ( Marks: 1 ) - Please choose one Identify the trade sales promotional tool which induce retailer to purchase and display a product. http://vustudents.ning.com Trade allowance Trade contest Dealer loader Push money Question No: 18 ( Marks: 1 ) - Please choose one http://vustudents.ning.com 3

Which of the following is an amount paid by way of reduction, return, or refund on what has already been paid or contributed by the customer? Coupon Free sample Rebate Price deal Question No: 19 ( Marks: 1 ) - Please choose one Which of the following was the most common form of advertising in ancient times? Word of mouth Commercial message Election campaign Non verbal communication Question No: 20 ( Marks: 1 ) - Please choose one When was mass media introduced? http://vustudents.ning.com 1950s 1940s 1930s 1920s Question No: 21 ( Marks: 1 ) - Please choose one Which of the following communication activities are likely to be most effective for a local hairdressing service? Public relations Word-of-mouth Sales promotion Radio advertisements Question No: 22 ( Marks: 1 ) - Please choose one Manufacturers of shampoos often send out free samples of their products with the magazines. This illustrate the use of which of the following element of promotional mix. Personal selling Sales promotion Direct mail Advertising Question No: 23 ( Marks: 1 ) - Please choose one All of the following are the objectives of sales promotion EXCEPT: Personal interaction between two or more people Invites and rewards quick consumer response Offers strong incentives to buy Attracts consumer attention Question No: 24 ( Marks: 1 ) - Please choose one A brand may achieve which of the following when it is associated with a whole category of products? Market share http://vustudents.ning.com 4

Positive mind share Dominant mind share Mind share Question No: 25 ( Marks: 1 ) - Please choose one Identify the situation in which there is NO negotiation at all. When both parties are weak When one party is strong When both parties are strong When both parties are equal Question No: 26 ( Marks: 1 ) - Please choose one Which of the following is TRUE about selecting, refining, and crafting an agreement? It is a step in which both parties gather facts about each other It is a step in which both parties estimate cost of agreement It is a step in which both parties formalize agreement It is a step in which both parties present the starting proposal Question No: 27 ( Marks: 1 ) - Please choose one In which of the following the sales force management systems are used? Selling and management Marketing and advertisement Management and marketing Management and advertisement Question No: 28 ( Marks: 1 ) - Please choose one Productivity of sales force can be measured using all of the following EXCEPT: Total cost of production Margin by customer segment Revenue per territory Revenue per sales person Question No: 29 ( Marks: 1 ) - Please choose one Identify the feature of selective distribution. Less control only Less cost only Less cost and more control More cost and less control Question No: 30 ( Marks: 1 ) - Please choose one Outbound operations, including all fulfillment activities and transportation to customers are which type of supply chain management activities? Strategic level Tactical level Operational level Functional level Question No: 31 ( Marks: 1 ) - Please choose one Which of the following is the sale of consumer products or services in a face to face manner away from a fixed retail location? http://vustudents.ning.com Industrial selling Indirect selling http://vustudents.ning.com 5

Direct selling Business to business selling Question No: 32 ( Marks: 1 ) - Please choose one Which of the following is a broad set of communication activities used to create and maintain favorable relations between the organization and its publics? Publicity Public relations A press strategy Advertising Question No: 33 ( Marks: 1 ) - Please choose one Which of the following is NOT one of the functions that marketing channel members generally perform? Manufacturing Promotion Negotiating with buyers Information gathering Question No: 34 ( Marks: 1 ) - Please choose one Which of the following is a practical model used by marketers? Consumer behavior Economic Psychological Behavioral Question No: 35 ( Marks: 1 ) - Please choose one Which of the following is the threat for an organization? Competitors developing new products New machinery or equipment Lack of computing expertise An unstable work-force Question No: 36 ( Marks: 1 ) - Please choose one Which of the following is defined as the process of converting concepts into specific observable behaviors that a researcher can measure? Operationalization Conceptualization Generalization Formalization Question No: 37 ( Marks: 1 ) - Please choose one Which of the following technique is used by depth interviewers in which you start with questions about external objects and external social phenomena, and then proceed to internal attitudes and feelings? Hidden issue questioning Laddering Symbolic analysis Focus groups Question No: 38 ( Marks: 1 ) - Please choose one When Saleem buys car using a channel with only one intermediary, that intermediary is classified as a: http://vustudents.ning.com 6

Functional middleman Broker Wholesaler Retailer Question No: 39 ( Marks: 1 ) - Please choose one Which of the following markets involve buying and selling of goods for their utility and enabling them to make or re-sell a product to others? http://vustudents.ning.com Global markets Government markets Consumer markets Business markets Question No: 40 ( 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: 41 ( Marks: 1 ) - Please choose one Which of the following is the consumer s estimate of the product s overall capacity to satisfy his or her needs? Value Want Demand Satisfaction Question No: 42 ( Marks: 1 ) - Please choose one For which of the following products would the manufacturer be more likely to use selective distribution? Bags of potato chips Paper clips Microwave ovens Nail clippers Question No: 43 ( Marks: 1 ) - Please choose one Costs that vary directly with the level of production are referred to as. Fixed costs Variable costs Total costs Unit costs Question No: 44 ( Marks: 1 ) - Please choose one are the sum of the and for any given level of production. Fixed costs; variable; total costs Fixed costs; total; variable costs Variable costs; fixed; total costs Total costs; fixed; variable costs Question No: 45 ( Marks: 1 ) - Please choose one http://vustudents.ning.com 7

Which one of the following options reflects the tactical activities? Inventory decisions, including quantity, location, and quality of inventory Information Technology infrastructure, to support supply chain operations Where to make and what to make or buy decisions Product design coordination Question No: 46 ( Marks: 1 ) - Please choose one Which of the following is NOT a style of music video? Audio Picture Text Animation Question No: 47 ( Marks: 1 ) - Please choose one Supply Chain Management involves getting the right product to the right customer in the right place at the right time. Which one of the following options is not a part of supply chain management? Planning Implementing Controlling the physical flow of goods, services, and information Gathering customer s ideas for new products Question No: 48 ( Marks: 1 ) - Please choose one Being a marketing manager, you have been assigned a task of conducting survey in a large area and collecting information that how many people like and dislike burger. You are collecting information by which of the following ways? Experimental techniques Qualitative marketing research Quantitative marketing research Observational techniques Question No: 49 ( Marks: 3 ) How an attractive TV commercial can be made? Question No: 50 ( Marks: 3 ) You might consider strong industry knowledge and expertise to be a core competence in serving your industry. If your competitors have equivalent expertise, do you think that this is a core competency? Explain it with logical reasoning. Question No: 51 ( Marks: 5 ) Differentiate between economic and psychological models. Question No: 52 ( Marks: 5 ) What is Integrated Marketing Communications? Why is it important? Question No: 53 ( Marks: 10 ) What does it mean money is invested in advertising? Is advertising all about investment? Why or why not. Question No: 54 ( Marks: 10 ) http://vustudents.ning.com 8

Suppose you are going to take decision about the purchase of newly introduced milk in the market. Explain the decision making model that you will follow in this situation. 1. Personal selling tries to achieve three general goals: finding prospects, convincing prospects to buy, and. Monitoring new products being developed Being aware of competitors' sales activities Avoiding repeat sales. Keeping customers satisfied 2. Mr. Kafeel, a sales person from Xerox, develops a list of potential customers and evaluates them on the basis of their ability, willingness, and authority to purchase copy machines. This process is called. Customer search Sales preparation Approaching the customer Prospecting 3. Imran tells his wife, Saima, that his last sales call of the day at McDonald was a disaster. He explains that he never really figured out what the purchasing agent was looking for. Saima, a sales trainer for another firm, hands Imran a book on. Improving listening skills Overcoming objections Product demonstrations Closing the sales encounter 4. Musharaf, a trained engineer, is a salesperson for a chemical manufacturer. He provides current customers with advice about a product's characteristics and applications. He is a. Missionary salesperson Trade salesperson Inside order taker Technical salesperson http://vustudents.ning.com 9

5. A sales representative for Coca-Cola travels to various shops and restaurants to determine how much bottles the customer needs for the coming period. The sales representative would be classified as which one of the following types of sales Order getter Inside order taker Field order taker Trade salesperson 6. A audit is used to assess a company's image among the organization s publics or to evaluate the effect of a specific program. (E) Communications Social Environmental Public Relations Publicity 7. In many instances the MOST appropriate way to cope with a negative event that may lead to negative publicity is to. Discourage news coverage of the event Deny that the event occurred Facilitate news coverage Hire a public relations firm 8. A marketer uses pioneer advertising to. Promote established brands Compare brand names Promote a product in the introductory stage of the life cycle Introduce a competitive version of the product 9. Which of the following is the most important consideration when choosing an event to sponsor? Consistency in the association between the event and the company's product The length of the event When the event occurs The specific name of the event 10. is a broad set of communication activities used to create and maintain favorable relations between the organization and its publics. http://vustudents.ning.com 10

Advertising A press strategy Public relations Publicity 1. The basic role of promotion is. Information Manipulation Communication Interpretation 2. If the aim of the promotion to introduce a new consumer product is to achieve high awareness levels, the firm will most likely make heavy use of in the promotional mix. Advertising Sales promotion Personal selling Publicity 3. A consumer contest is an example of. Personal selling Sales promotion Advertising Indirect selling 4. A television advertisement showing the safety features of the Volvo 240 DL would be best classified as which of the following? http://vustudents.ning.com Product advertising B) Pioneer advertising C) Defensive advertising D) Societal marketing 5. Brands that are promoted through comparative advertising are MOST likely to be. Market leaders Brands that are attempting to compete with market leaders Primarily services rather than tangible goods Attempting to compete on a non-price basis 6. Advertising appropriations are largest for which type of product? http://vustudents.ning.com 11

Industrial products Convenience goods High-priced products Specialty goods 7. If Wrigley sets its pricing objective as attaining 38 percent of the chewing gum market, what else would be needed to make this a true pricing objective? A statement of demand elasticity An identification of cost structure A breakeven analysis Identification of a time period for accomplishment 8. If a product has an inelastic demand and the manufacturer raises its price, Total revenue will increase Quantity demanded will increase The demand schedule will shift The demand will become more inelastic 9. When marginal cost is equal to marginal revenue, the firm should. Produce more to increase profits Produce less to decrease total costs Stop producing additional units to maximize profits Provide discounts to encourage purchases 10 Which one of the following pricing policies may result in losing money on the product? Price leader Psychological discounting Penetration pricing Special-event pricing 1. In the ABSENCE of, pricing remains a flexible and convenient way to adjust the marketing mix. A) Experience-curve effects B) Strong price competition C) Weak price competition D) Government price control http://vustudents.ning.com 12

2. Which one of the following statements by a company chairman best reflects the marketing concept? A) We have organized our business to make certain that we satisfy customer needs. B) We believe that the marketing department must organize to sell what we produce. C) We try to produce only high quality, technically efficient products. D) We try to encourage company growth. http://vustudents.ning.com 3. The two components of a marketing strategy are. A) Marketing objectives and promotion B) Marketing mix and marketing objectives C) Target market and marketing mix D) Target markets and promotions 4. The marketing concept is a philosophy that states that an organization should try to satisfy customers' needs and at the same time. A) Increase market share. B) Increase sales. C) Achieve the organization s goals. D) Always produce high http://vustudents.ning.com 13

5. When a company adjusts price levels so that it can increase sales volume to levels that match the organization s expenses, it is said to employ a pricing objective. A) Market share B) Cash flow C) Return on investment D) Survival 6. If Planters is concerned that acquiring a taste for its new product, honey-roasted macadamia nuts, takes time, it should use packaging. A) Family B) Multiple C) Tamper-resistant D) Unlabeled 7. A carton of orange juice has no brand name on the package, only the name of the product 'orange juice'. This is an example of http://vustudents.ning.com A) A manufacturer's brand. B) An own label brand C) A no-frills brand D) A generic brand. 8. One distinguishing factor between a brand name and a brand mark is that a brand name is A) Creates customer loyalty. B) Consists of words. C) Identifies only one item in the product mix. D) Implies an organization's name. 9. A firm may decide that all packages are to be similar or include one major element of the design. This approach to promote an overall company image is called A) Family extension. B) Family packaging. C) Overall packaging. D) Package extension. 10. The stage of the product life cycle generates most sales revenue for the firm. A) Introduction B) Growth C) Maturity D) Decline http://vustudents.ning.com 14

1) Which of the following is a part of the media that is specially designed to reach a very large or the whole population of a country? a) Mass media b) Print media c) Electronic media d) Internet 2) Which of the following is NOT the purpose of mass media? a) Advocacy b) Journalism c) Broadcasting d) Entertainment 3) Which type of media has an advantage of mass coverage for promotions? a) Newspaper b) Radio c) Television d) Outdoor advertising 4) Which of the following is NOT used for commercial advertising? a) Wall paintings b) Billboards c) Bus stop benches d) Word of mouth 5) For what purpose advertising slogans are used? a) Drawing attention b) Marketing communication c) Sales promotion d) Publicity 6) In which type of commercial, information is conveyed through television? a) Broadcasting b) Information c) Telecasting d) Billboard 7) Which of the following is a NOT type of sales? a) Direct sales b) Aggressive sales c) Consultative sales d) Complex sales 8) Who is much more knowledgeable about their product or service than the prospect? a) Sales person b) Manager c) Customer d) Whole seller 9) Which of the following is NOT the tactics of negotiation? http://vustudents.ning.com 15

a) Presenting demands b) Setting pre-conditions c) Declining to speak first d) Presenting product 10) What is the other term used for negotiation? a) Loss-win b) Win-win c) Win-loss d) Loss-loss 11) How marketing manager can develop strategies for each product using information from sales force management system? a) Using communication mix variables b) Using marketing mix variables c) Using product mix variables d) Using promotion mix variables 12) How an increased productivity create competitive advantage? a) It reduces cost b) It increases retailers c) It increases competitors d) It reduces growth 13) What is an outcome of communication and co-operation between sales personnel? http://vustudents.ning.com a) More productivity b) Successful selling c) More market growth d) Successful team selling 14) Identify the type of promotion in which companies use celebrities for promotion. a) Personal selling b) Sales promotion c) Publicity d) Public relation 15) Companies are using public relation to support the sales: a) In short run only b) In long run only c) In short and long run d) None of the given options 16) Which of the following is the combination of institutions through which a seller markets products to the user? a) Retailer b) Wholesaler c) Distribution channel d) Logistics organization 17) Which of the following is readymade business transferred from one place to other? a) Whole selling http://vustudents.ning.com 16

b) Retailing c) Franchising d) Direct selling 18) What will be the length of distribution channel for perishable goods? a) Short b) Long c) Medium d) None of the given options 19) What is the intention of vertical marketing for retailers and wholesalers? a) Reduce cost b) Reduce channels c) Reduce control d) Increase control 20)A vertical marketing system in which independent firms at different levels of production and distribution join together through contracts to obtain more economies or sales impact than they could achieve alone is referred as: a) Corporate VMS b) Conventional VMS c) Administered VMS d) Contractual VMS http://vustudents.ning.com 17