MGT301 Principles of Marketing Quiz 3 Fall 2013

Mgt301 Quiz 03

 

1. Which one of the following groups serves as opinion leaders to the rest of the market?
Select correct option:

Late majority
Early Adopter
Early Majority
Laggards

2. You are planning to install a steel manufacturing plant in your city. For that purpose you want to have a supplier who supplies you the steel in raw form for manufacturing. Here supplier supplies you which of the following form of industrial product?
Select correct option:

Material and parts
Capital items
Supplies and services
None of the given options

3. Which of the following statements about rebates is true?
Select correct option:

Refunds paid to consumers after a purchase.
Final consumer gets a producer’s price reduction.
Offered but then never request the refund.
All of the above.

4. Which of the following is NOT an alternative to increase in the price of a commodity?
Select correct option:

Reducing product size
Using less expensive materials
Unbundling the product
None of the above

5. Selecting the right competitive advantage is part of which one of the following concepts?
Select correct option:

Target marketing
Market Positioning
Market segmentation
Undifferentiated Marketing

6. If ABC Company observes all compact disc customers as pretty much alike and thus offered only one marketing mix, it would be using which of the following approach?
Select correct option:

Heterogeneous
Undifferentiated
Differentiated
Concentrated

7. Which one of the following step in developing new product involves determining whether the product idea is compatible with company objectives, needs and resources on a general level?
Select correct option:

Product development
Screening
Idea generation
Business analysis

8. Mr. Akmal is a person who dislikes the changes in something. He always follows a traditional way to purchase the product like he considers himself as a true judger of product and don’t care to anyone feelings about that product. However if the new product comes into the market he always dislike it and wait for a number of people to use that product. Mr. Akmal belongs to the group of:
Select correct option:

Innovators
Early Majority
Late Majority
Laggards

9. Yogurt” comes under which type of consumer product?
Select correct option:

Convenience
Shopping
Specialty
Unsought

10. In which of the following pricing the seller selects a given city as a “basing point” and charges all customers the freight cost from that city to the customer location, regardless of the city from which the goods are actually shipped?
Select correct option:

Base-point pricing
Freight absorption pricing
Transfer pricing
Zone pricing

11. _______ is a statement of organization’s purpose. It acts as invisible hand that guides people in an organization.
Select correct option:
• Vision statement
• Mission statement
• Corporate statement
• Slogan

12. ________ is defined as strategies focused on increasing customer satisfaction, loyalty, and profitability by leveraging superior customer knowledge acquired, stored, and acted upon with the aid of information technology.
Select correct option:
• Marketing management
• Knowledge management
• Customer management
• Customer relationship management
13. Zara, the cosmetics brand focuses on quality products, performance and features. It holds which of the following concept?
Select correct option:
• Production concept
• Product concept
• Marketing concept
• Total Quality Management

14. A researcher on the University Book Shop’s survey asks respondents to tell what they like least about textbook shopping. What type of question it is?
Select correct option:
• An open-ended
• A dichotomous
• A multiple choice
• A close ended

15. Distribution of product to get it in the market refers to which of the following activities?
Select correct option:
o Selling activities
o Advertising activities
o Promotion activities
o Place or distribution activity
16. Identify the final step in the strategic planning process?

Select correct option:
• Planning functional strategies
• Defining the Company Mission
• Developing the growth strategies
• Designing the business portfolio

17. The BCG growth-share matrix classifies which of the following four types of SBUs?
Select correct option:
• Product; price; promotion; placement
• Sales; market share; price; promotion
• Stars; cash cows; question marks; dogs
• Planning; organizing; leading; controlling

18. Natural environment includes all, EXCEPT:
Select correct option:
• Shortage of raw materials
• Increased pollution
• Competition
• Government intervention

19. Mr. ABC and his staff have decided to use target marketing to reach their sales goals. Which are their three steps (in order) to target marketing?
Select correct option:
o Market segmentation, market positioning, and target marketing
o Market segmentation, target marketing, and market positioning
o Market alignment, market segmentation, and market positioning
o Market recognition, market preference, and market insistence
20. Which of the following forces shows the marketing macro environment?
Select correct option:
o Demographic, economic, natural, technological, political, and social
o Demographic, natural, economic, political, social, and cultural
o Demographic, economic, natural, technological, political, and cultural
o Demographic, economic, natural, social, political, and legal

Another Quiz 

Quiz Start Time: 05:01 PM Time Left 41

Question # 1 of 20 ( Start time: 05:01:53 PM ) Total Marks: 1
Which one of the following types of product that are usually purchased for further processing or for use in conducting a business?
Select correct option:

Unsought products
Specialty products
Shopping products
Industrial products
Question # 2 of 20 ( Start time: 05:02:59 PM ) Total Marks: 1

One risk that could be associated with which one of the following through which the sales may come at the expense of other items?
Select correct option:

Line extension

Packaging

Social marketing

Internet marketing

Question # 3 of 20 ( Start time: 05:04:29 PM ) Total Marks: 1

An attractive idea must be developed into which one of the following?
Select correct option:

Product idea
Product concept
Product analysis
Test market

Question # 4 of 20 ( Start time: 05:05:24 PM ) Total Marks: 1

Why do manufacturers offer channel members quantity discounts, promotional allowances and slotting allowances?
Select correct option:

To increase the level of vertical integration
To establish long-term transactional relationships
To take advantage of price elasticity
To encourage them to actively market the product

Question # 5 of 20 ( Start time: 05:06:49 PM ) Total Marks: 1

If the competitor’s price cut harm the company’s sales and profit then what should your company do:
Select correct option:

Hold the current price
Increase the price
Decrease the price
All of the given options

Question # 6 of 20 ( Start time: 05:07:56 PM ) Total Marks: 1

Which one of the following attributes may grab attention and produce pleasing aesthetics, but it does not necessarily make the product perform better?
Select correct option:

Branding
Style
Ingredients
Packaging

Question # 7 of 20 ( Start time: 05:09:12 PM ) Total Marks: 1

Quantity discounts are a legal form of price discrimination. A quantity discount is a price reduction to buyers who purchase _____.
Select correct option:

Frequently
Large volumes
Inferior merchandise
Superior merchandise

Question # 8 of 20 ( Start time: 05:10:10 PM ) Total Marks: 1

The search for new-product ideas should not be haphazard rather it should be:
Select correct option:

Consistent
Systematic
Continual
Seldom
Question # 9 of 20 ( Start time: 05:11:38 PM ) Total Marks: 1

Mr. Akmal is a person who dislikes the changes in something. He always follows a traditional way to purchase the product like he considers himself as a true judger of product and don’t care to anyone feelings about that product. However if the new product comes into the market he always dislike it and wait for a number of people to use that product. Mr. Akmal belongs to the group of:
Select correct option:

Innovators

Early Majority

Late Majority

Laggards

Question # 10 of 20 ( Start time: 05:12:55 PM ) Total Marks: 1

Those factors that determine the size and means of payment exchanged for goods and services are part of which one of the following mix?
Select correct option:

Price promotion mix
Price factor mix
Basic price mix
Production price mix

Question # 11 of 20 ( Start time: 05:14:15 PM ) Total Marks: 1

All of the following are major steps in developing new products EXCEPT:
Select correct option:

Test marketing
Evaluation of competitors
Business analysis
Idea generation
Question # 12 of 20 ( Start time: 05:15:40 PM ) Total Marks: 1

Geo News is one of the famous news channel and has large viewership across the country. Geo network has also appeared in sports and entertainment events with the name of Geo Super and Geo Entertainment respectively. This extension in the Geo Network is called:
Select correct option:

Brand Extension

Line Extension

Multibranding

Co Branding
Question # 13 of 20 ( Start time: 05:16:42 PM ) Total Marks: 1

Company B is an internet service provider company and it has launched two different packages which charge a fixed and some variable rates according to usage in a month. Company B is using which type of product mix pricing strategies?
Select correct option:

Product Line Pricing

Optional Product Pricing

Captive Product Pricing

By Product Pricing

 

Question # 14 of 20 ( Start time: 05:18:09 PM ) Total Marks: 1
You are planning to install a steel manufacturing plant in your city. For that purpose you want to have a supplier who supplies you the steel in raw form for manufacturing. Here supplier supplies you which of the following form of industrial product?
Select correct option:

Material and parts
Capital items

Supplies and services

None of the given options

Question # 15 of 20 ( Start time: 05:19:10 PM ) Total Marks: 1

If Pepsi sets the price of its six packs to match exactly the price of Coca-Cola’s, Pepsi is using which of the following pricing method?
Select correct option:

Demand-oriented
Cost-oriented
Experience curve
Competition-oriented

 

Quiz Start Time: 05:01 PM Time Left 71

sec(s)

Question # 16 of 20 ( Start time: 05:19:54 PM ) Total Marks: 1
Which of the following is an example of a demographic factor that is important to the pricing decisions made for a new type of low-fat cereal for children?
Select correct option:

How many boxes will be consumed by a household in a month?
What price will indicate the quality of the cereal?
How will price elasticity affect the pricing?
Will potential buyers be attracted to the cereal if odd pricing applied?

 

 

Quiz Start Time: 05:01 PM Time Left 36

Question # 16 of 20 ( Start time: 05:19:54 PM ) Total Marks: 1
Which of the following is an example of a demographic factor that is important to the pricing decisions made for a new type of low-fat cereal for children?
Select correct option:

How many boxes will be consumed by a household in a month?
What price will indicate the quality of the cereal?
How will price elasticity affect the pricing?
Will potential buyers be attracted to the cereal if odd pricing applied?

 

 

Quiz Start Time: 05:01 PM Time Left 48
sec(s)

Question # 17 of 20 ( Start time: 05:20:52 PM ) Total Marks: 1
In relation to a product launch strategy, a company engaged in high levels of promotion at the same time as selling at a high price is following which one of the strategy?
Select correct option:

Slow penetration strategy
Rapid penetration strategy
Rapid skimming strategy
Slow skimming strategy

 

Quiz Start Time: 05:01 PM Time Left 50
Question # 18 of 20 ( Start time: 05:21:53 PM ) Total Marks: 1
Marketing manager wants to improve the packaging of new products after reading customer responses to its customer opinion poll. Which one of the following is NOT a function of packaging?
Select correct option:

It contains and protects the product
It contains the brand mark
It determines product quality
It may contain the brand symbol

 

Quiz Start Time: 05:01 PM Time Left 20
sec(s)

Question # 19 of 20 ( Start time: 05:22:44 PM ) Total Marks: 1
Some analysts see which of the following as the major enduring asset of a company, outlasting the company’s specific products and facilities?
Select correct option:

Brand
Style
Package
Design

 

Quiz Start Time: 05:01 PM Time Left 29
sec(s)

Question # 20 of 20 ( Start time: 05:24:16 PM ) Total Marks: 1
Which of the following statements about government regulation of pricing is true?
Select correct option:

Under certain circumstances, price fixing can be legal.
Any type of price discrimination is always deemed illegal.
All promotional pricing is legal.
Quantity discounts must be used carefully or else they are illegal.

 

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