MKT 501 QUIZ

Question # 1 of 15 ( Start time: 06:39:54 PM)
Total Marks: 1
Need becomes ______ when they are directed towards a specific object.
Select correct option:
Actual need
Want
Satisfaction
Demand
Question # 2 of 15 ( Start time: 06:40:50 PM)
Total Marks: 1
In term of marketing mix, a television show like Tariq Aziz show is an example of:
Select correct option:
Product
Price
Place
Promotion
Question # 3 of 15 ( Start time: 06:41:23 PM )
Total Marks: 1
When a firm attempts to increase sales during the maturity stage of the PLC by changing
one or more marketing mix elements, it is ___.
Select correct option:
Improving advertising
Changing promotion
Modifying the marketing mix
Increasing promotion budget
Question # 4 of 15 ( Start time: 06:42:06 PM)
Identify which of the following is an aggressive strategy.
Select correct option:
Intensification
Diversification
Harvesting
Vertical integration
Question # 5 of 15 ( Start time: 06:42:43 PM)
All of the following are the examples of unsought goods EXCEPT:
Select correct option:
Course books
Encyclopedia
Funeral plots
Insurance policy
Question # 6 of 15 ( Start time: 06:43:22 PM)
Which of the following is NOT an external source of idea generation?
Select correct option:
Top management
Competitors
Suppliers
Customers
Question # 7 of 15 ( Start time: 06:43:54 PM)
Which of the following is NOT a part of broad environment?
Select correct option:
Economy
Demographics
Technology
Corporate culture
Question # 8 of 15 ( Start time: 06:44:30 PM)
Total Marks: 1
Which of the following stage in the PLC is characterized by rapid market acceptance,
increasing sales, and increasing profits?
Select correct option:
Introduction
Growth
Maturity
Decline
Question # 9 of 15 ( Start time: 06:44:56 PM)
Which of the following gives the exact position of a company’s product with respect to
market?
Select correct option:
Market analysis
Consumer analysis
Macro analysis
Micro analysis
Question # 10 of 15 ( Start time: 06:45:29 PM)
Retailers are considered under which of the following environment?
Select correct option:
Broad
Weak
Task
Competitive
Question # 11 of 15 ( Start time: 06:46:12 PM)
Insurance service would BEST be described as which kind of a product?
Select correct option:
Convenience
Unsought
Specialty
Durable
Question # 12 of 15 ( Start time: 06:46:44 PM)
Total Marks: 1
Among the various elements, the brand name, belongs to which of the following?
Select correct option:
Core product
Actual product
Augmented product
Specialty product
Question # 13 of 15 ( Start time: 06:47:11 PM)
Total Marks: 1
Sales decline in the decline stage of the PLC because of technological advances,
increased competition, and ___.
Select correct option:
Shifts in unemployment
Shifts in the economy
Shifts in consumer tastes and preferences
Foreign imports
Question # 14 of 15 ( Start time: 06:47:44 PM)
Financial summary of a marketing plan includes all EXCEPT:
Select correct option:
Pro-forma income statement
Month-by-month agenda
Breakeven analysis
Assumptions
Question # 15 of 15 ( Start time: 06:48:23 PM)
Pictures and specification of product are added in which of the following part of the
marketing plan?
Select correct option:
Financial summary
Executive summary
Situation analysis
Appendix
Question # 1 of 15 ( Start time: 07:01:46 PM ) Total Marks: 1
Which of the following is the period when sales become very low and profits drop?
Select correct option:
Introduction
Growth
Maturity
Decline
Question # 2 of 15 ( Start time: 07:02:12 PM ) Total Marks: 1
Pictures and specification of product are added in which of the following part of the
marketing plan?
Select correct option:
Financial summary
Executive summary
Situation analysis
Appendix
Question # 3 of 15 ( Start time: 07:02:29 PM ) Total Marks: 1
Which of the following represent the companies which prefer to follow rather than
challenge?
Select correct option:
Market challenger
Market follower
Market nicher
Market leader
Question # 4 of 15 ( Start time: 07:02:53 PM ) Total Marks: 1
Which of the following BEST describes the consumer’s preference for products that are
widely available to them?
Select correct option:
Production concept
Marketing concept
Selling concept
Product concept
Question # 5 of 15 ( Start time: 07:03:14 PM ) Total Marks: 1
Which of the following is an advantage that enables business to survive against its
competition over a long period of time.
Select correct option:
Marketing advantage
Sustainable competitive advantage
Core competency
Competitive advantage
Question # 6 of 15 ( Start time: 07:03:42 PM ) Total Marks: 1
Which of the following is a strategic planning method that some organizations use to
make flexible long-term plans?
Select correct option:
Monitoring
Forecasting
Scenario planning
Guerrilla marketing
Question # 7 of 15 ( Start time: 07:03:55 PM ) Total Marks: 1
Which of the following is NOT a technique of measuring customer satisfaction and
monitoring customer’s complaint?
Select correct option:
Customer complaints database
Exit interviews
Web and telephone information hotlines
Business Analysis
Question # 8 of 15 ( Start time: 07:04:11 PM ) Total Marks: 1
Additional cost is associated with which of the following strategy?
Select correct option:
Market segmentation strategy
Market dominance strategy
Differentiation strategy
Cost leadership strategy
Question # 9 of 15 ( Start time: 07:04:24 PM ) Total Marks: 1
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?
Select correct option:
Consumer markets
Business markets
Global markets
Government markets
Question # 10 of 15 ( Start time: 07:04:38 PM ) Total Marks: 1
A firm is producing standardized products and enjoying the economies of scale by
producing more. The firm is following which of the following strategy?
Select correct option:
Differentiation strategy
Cost leadership strategy
Market dominance strategy
Market segmentation strategy
Question # 11 of 15 ( Start time: 07:04:51 PM ) Total Marks: 1
Which of the following is the task of selecting an overall company strategy for long-run
survival and growth?
Select correct option:
Mid-term planning
Short-term planning
Annual market planning
Strategic market planning
Question # 12 of 15 ( Start time: 07:05:09 PM ) Total Marks: 1
All of the following are the examples of unsought goods EXCEPT:
Select correct option:
Course books
Encyclopedia
Funeral plots
Insurance policy
Question # 13 of 15 ( Start time: 07:05:21 PM ) Total Marks: 1
Which of the following are products and services bought by final consumers for personal
consumption? These include convenience products, shopping products, specialty
products, and unsought products.
Select correct option:
Material and parts
Consumer products
Industrial products
Capital items
Question # 14 of 15 ( Start time: 07:05:37 PM ) Total Marks: 1
A product is showing rapidly rising sales and profits are also high. Identify the product is
at:
Select correct option:
Introduction stage
Growth stage
Maturity stage
Decline stage
Question # 15 of 15 ( Start time: 07:05:49 PM ) Total Marks: 1
Which of the following are called value maximizers?
Select correct option:
Sellers
Customers
Marketers
Manufacturers