MKT501 - Marketing Management Question No: 1 ( Marks: 1 ) - Please choose one Which of the following is NOT a purpose of a marketing plan? It assists in management control It assigns responsibilities, tasks and timing It co-ordinates marketing and production activities It specifies how resources are to be allocated Question No: 2 ( 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: 3 ( Marks: 1 ) - Please choose one Which of the following is NOT included in product decisions? Warehousing Packaging Styling Brand name Question No: 4 ( Marks: 1 ) - Please choose one Presenting the product concept to appropriate target consumers and getting their reactions, describes which of the following options? Concept development Concept testing Commercialization Concept trial Question No: 5 ( Marks: 1 ) - Please choose one Which of the following is the degree to which new product matches the values and experiences of the individuals in the community? Innovation communicability Innovation divisibility Innovation compatibility Innovation complexity Question No: 6 ( 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 Page 1 of 6
Co-brand Brand Product Question No: 7 ( Marks: 1 ) - Please choose one Which of the following sets floor for the price that company can charge for its product? Demand Premium Promotion Cost Question No: 8 ( Marks: 1 ) - Please choose one Which of the following is NOT an objective of penetration pricing? Long term profit maximization Short term profit maximization Increasing sales volume Increasing market share Question No: 9 ( Marks: 1 ) - Please choose one A penetration-pricing policy is particularly appropriate when demand is: Decreasing Highly inelastic Highly elastic Less elastic Question No: 10 ( 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? Cost- oriented pricing Skimming pricing Premium pricing Penetration pricing Question No: 11 ( Marks: 1 ) - Please choose one Which of the following markets require developing a superior product and packaging along with continuous advertising? Consumer markets Business markets Global markets Non profit/government markets Page 2 of 6
Question No: 12 ( Marks: 1 ) - Please choose one Which of the following is NOT an ancillary service? Warranty Installation Delivery Labeling Question No: 13 ( Marks: 1 ) - Please choose one Identify which one is an ancillary service. Delivery Promotion Labeling Packaging Question No: 14 ( Marks: 1 ) - Please choose one Which of the following is NOT an example of unsought goods? Insurance policy Course book Encyclopedia Funeral plots Question No: 15 ( Marks: 1 ) - Please choose one Which of the following best describes the definition of marketing mix? The way product is priced The way product are arranged in the stores The way business elements are combined to meet the needs of customers The way business distribute the products in the market Question No: 16 ( Marks: 1 ) - Please choose one Which of the following is NOT an option available for market leaders? Reduce the product quality Improve customer service Protect the existing market share Expand the total market Question No: 17 ( Marks: 1 ) - Please choose one Which of the following products requires mass promotion by a producer? Convenience Shopping Specialty Unsought Page 3 of 6
Question No: 18 ( Marks: 1 ) - Please choose one Which of the following concepts reflects High-level pricing and odd-even pricing? Competition-oriented pricing Psychological pricing Demand-based pricing Target return on investment pricing Question No: 19 ( Marks: 1 ) - Please choose one If an NGO purchases furniture for its office, it is purchasing a(an): Consumer good Consumer service Industrial good Industrial service Question No: 20 ( Marks: 1 ) - Please choose one A good definition of marketing should include: Production output Only for profit organization Distribution of goods and consumer segments Accounting and financial management Question No: 21 ( Marks: 1 ) - Please choose one Which of the following statements best describes the marketing concept by a marketing manager of a company? We have organized our business to make certain that we satisfy customer needs We believe that the marketing department must organize to sell what we produce We try to produce only high quality, technically efficient products We want to sell what we make Question No: 22 ( Marks: 1 ) - Please choose one Which of the following is NOT an aggressiveness strategy with regards of marketing strategies? Harvesting Building Intensification Holding Page 4 of 6
Question No: 23 ( Marks: 1 ) - Please choose one type of growth refers to concentrating activities on markets and/or products that are familiar: Diversification Condensive Integrative Intensive Question No: 24 ( Marks: 1 ) - Please choose one Milk, butter, bread and eggs are all classified as: Convenience goods Shopping goods Specialty goods Health supportive goods Question No: 25 ( Marks: 1 ) - Please choose one A firm s marketing strategy should emphasize stimulating demand in the: Introduction Growth Maturity Decline Question No: 26 ( Marks: 1 ) - Please choose one Which of the following is not the basic decision to be taken in the process of commercialization during new product development process? What to launch in the market Where to launch the product When to launch the product To whom to launch the product Question No: 27 ( Marks: 1 ) - Please choose one The degree to which innovation is consistent with the values and experiences of potential adopters is the characteristics of innovation referred to as: Communicability Complexity Divisibility Compatibility Page 5 of 6
Question No: 28 ( Marks: 1 ) - Please choose one Which of the following is the traditional pricing objective? Increase market share Maximize profits Meet competitors prices Increase market growth Question No: 29 ( Marks: 3 ) For what purpose companies use brand names? Question No: 30 ( Marks: 3 ) Explain the features of any product at its maturity stage? Question No: 31 ( Marks: 5 ) Identify the type of following consumer goods. Support your answer with logical reasons. LUX Mercedes-Benz Life insurance policy of State life of Pakistan Dawlance refrigerators Olpers milk Question No: 32 ( Marks: 5 ) Explain "Price" as an important element of marketing mix. Page 6 of 6