MGT301- Principles of Marketing Complete Solved Midterm Past Paper fall 2009

MIDTERM  EXAMINATION

Fall 2009

MGT301- Principles of Marketing (Session - 3)

Ref No:

Time: 60 min

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Question No: 1    ( Marks: 1 )    - Please choose one

A social and managerial process by which individuals and organizations obtain what they need and want through value creation refers to which one of the following concepts?

► Selling

► Advertising

► Barter

► Marketing

Question No: 2    ( Marks: 1 )    - Please choose one

A business can have excellent products and services due to excellent marketing skills and techniques that are essential for a company's success. So what are the requirements needed for today’s marketer to achieve the organization‘s goals?

► Neither creativity nor critical thinking skills
► Both creativity and critical thinking skills
► Critical thinking skills but not creativity
► Creativity but not critical thinking
Question No: 3    ( Marks: 1 )    - Please choose one

A marketing manager of a large consumer foods company is studying distribution, promotion, and price of the company's product. Marketing manager is studying which one of the following concepts?

► Marketing plan
► Marketing strategy
► Marketing mix
► Market offering
Question No: 4    ( Marks: 1 )    - Please choose one

Which one of the following phrases reflects the marketing concept?

► The supplier is a king in the market

► Marketing should be viewed as hunting not gardening

► This is what I make, won’t you please buy it?

► This is what I want, won’t you please make it?

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Question No: 5    ( Marks: 1 )    - Please choose one

Which one of the following options is best to explain the purpose of intranets?

► Buying and selling processes

► Business-to-business purchasing

► Communication among employees

► Maintaining customer relations

Question No: 6    ( Marks: 1 )    - Please choose one

What are we going to do? And, how are we going to do? In which of the following categories these two questions fall?

► Researching
► Planning
► Controlling
► Managing
Question No: 7    ( Marks: 1 )    - Please choose one

XYZ Company purchased Hear Music and began making compilation music CDs to play and sell in its stores. It has also tested new restaurant concepts; XYZ Company is considering which of the following strategies?

► Product development

► Market development

► Diversification

► Market penetration
Question No: 8    ( Marks: 1 )    - Please choose one
The strategic marketing process is how an organization allocates its marketing mix resources to reach its:
► Stated business idea
► Target market
► Competition
► Area of expertise
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Question No: 9    ( Marks: 1 )    - Please choose one
Which of the following sets refers to the order or sequence of marketing management functions?
► Control – implementation – market planning
► Market planning – control – implementation
► Implementation – control – market planning
► Marketing planning – implementation - control
Question No: 10    ( Marks: 1 )    - Please choose one

General Motors need to assess the company's image relative to a new competitor. The time schedule is flexible, the research budget is very limited and a low response rate will not be a major problem. Which one of the following survey would be used by General Motors?

► Mail
► Telephone
► Personal interview
► Population
Question No: 11    ( Marks: 1 )    - Please choose one
A person on the University Book Shop's survey asks respondents to tell the shop, in their own words, what they like least about textbook shopping. What is a type of this question?

► An open-ended

► A dichotomous

► A multiple choice

► A scale

Question No: 12    ( Marks: 1 )    - Please choose one

Currently, you find yourself involved in marketing research. The research you are using is flexible, allows explanation of difficult questions and lends itself to showing products and advertisements. What is this form of research?

► Personal interviewing

► Online interviewing

► Vision phone interviewing

► Mall intercepts

Question No: 13    ( Marks: 1 )    - Please choose one

Marketing researchers usually draw conclusions about large groups of consumers by studying which of the following small component of the total consumer population?

► Group

► Sample

► Target group

► Audience

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Question No: 14    ( Marks: 1 )    - Please choose one

In creating research questionnaires, which of the following is good advice for research specialist to follow?

► Use care in the wording and ordering of questions

► Questions do not have to be arranged in a logical order

► Ask personal questions in the middle of the instrument

► Avoid eye contact as it may confuse the respondents

Question No: 15    ( Marks: 1 )    - Please choose one

How do consumers respond to various marketing efforts the company might use? What is a starting point of a buyer’s behavior?

► Belief

► Subculture

► Post purchase feeling

► Stimulus-response Model

Question No: 16    ( Marks: 1 )    - Please choose one

Which one of the following factor relates to family that influences consumer behavior?

► Cultural

► Social

► Personal

► Business

Question No: 17    ( Marks: 1 )    - Please choose one
A change in an individual's behavior prompted by information and experience refers to which one of the following concept?
► Learning
► Role selection
► Perception
► Motivation
Question No: 18    ( Marks: 1 )    - Please choose one

Unique psychological characteristics that lead to relatively consistent and lasting responses to one’s own environment refers to which one of the following?

► Belief

► Culture

► Personality

► Self-awareness

Question No: 19    ( Marks: 1 )    - Please choose one

The buying process starts from which one of the following stage in which the buyer recognizes a problem or need?

► Need recognition

► Information search

► Evaluation of alternative

► Purchase decision

Question No: 20    ( Marks: 1 )    - Please choose one

The consumer can obtain information from any of several sources. Which is NOT one of these sources?

► Personal

► Commercial

► Attitude

► Public

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Question No: 21    ( Marks: 1 )    - Please choose one

Which one of the following factor is the most effective source of obtaining information that legitimizes or evaluates products for the buyer?

► Public

► Experimental

► Personal

► Social

Question No: 22    ( Marks: 1 )    - Please choose one

You enter a shop and call the department manager to assist in the purchase of industrial equipment. You are considering a change in product specifications, terms or suppliers.  This specifies which of the following buying situations?

► Modified rebuy

► New task

► Straight rebuy

► Gatekeeper activity

Question No: 23    ( Marks: 1 )    - Please choose one

You purchase cleaning supplies for your custodial help regularly.  It is showing which buying situation?

► Modified rebuy

► Straight rebuy

► Modified straight rebuy

► Consumer buy

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Question No: 24    ( Marks: 1 )    - Please choose one
A transaction in which the organization is making an initial purchase of an item to be used to perform a new job refers to which of the following purchases?
► Straight rebuy purchase
► Delayed purchase
► New-task purchase
► Modified rebuy purchase
Question No: 25    ( Marks: 1 )    - Please choose one

Mobilink divides buyers into groups based on their knowledge, attitudes, uses or responses to a product. It is obviously using which type of segmentation?

► Behavioral

► Psychographic

► Demographic

► Geographic

Question No: 26    ( Marks: 1 )    - Please choose one
Following are the variables for the segmentation of international markets EXCEPT:
► Geographic factors
► Economic factors
► Cultural factors
► Psychological factors
Question No: 27    ( Marks: 1 )    - Please choose one

Marketers need to position their brands clearly in target customers’ minds. The strongest brands go beyond attributes or benefit positioning. On which of the following basis the products are positioned?

► Desirable benefit

► Good packaging

► Strong beliefs and values

► Customer image

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Question No: 28    ( Marks: 1 )    - Please choose one

Which one of the following categories refers to a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges?

► Product line

► Line extension

► Private brand

► Product bandwidth

Question No: 29    ( Marks: 1 )    - Please choose one

When a company introduces additional items in a given product category under the same brand name, such as new flavors, forms, colors, ingredients, or package sizes refers to which of the following steps?

► Line extensions

► Product mix

► Service variability

► Service intangibility

Question No: 30    ( Marks: 1 )    - Please choose one

The purpose of idea generation is to create a _____ of ideas. The purpose of succeeding stages is to _____ that number.

► Small number; reduce

► Small number; increase

► Large number; increase

► Large number; reduce

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Question No: 31    ( Marks: 1 )    - Please choose one

A review of the sales, costs and profit projections for a new product to find out whether they satisfy the company’s objectives refers to which one of the following concepts?

► Business feasibility

► Feasibility study

► Business analysis

► Product acceptance

Question No: 32    ( Marks: 1 )    - Please choose one

Which one of the following steps calls for testing new-product concepts with groups of target consumers in new product development?

► Concept development

► Concept testing

► Idea generation

► Test marketing

Question No: 33    ( Marks: 1 )    - Please choose one
Which one of the following groups of people get the product exposure but is not often perceived by the majority of potential buyers as typical consumers?
► Early Majority
► Late Majority
► Early Adopter
► Innovators
Question No: 34    ( Marks: 1 )    - Please choose one
If BATA Company Ltd. has slow sales growth, profits are nonexistence and there are heavy expenses incurred. Which of the following stage is being faced by the BATA?
► Introduction
► Growth
► Maturity
► Decline
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Question No: 35    ( Marks: 1 )    - Please choose one

First National Bank launches an innovative in-home banking system tied to personal computers. The product is not widely accepted because bank customers don't see the need for such a service. Which one of the following is the best discretion of product failure?

► Establishment of a customer information system
► Organization structure
► Technological advancement
► Scanning corporate capabilities
Question No: 36    ( Marks: 1 )    - Please choose one

When a customer pays Rs.1000 and receives a television set in return. What does this example show?

► Exchange

► Transaction

► Market

► Segment
Question No: 37    ( Marks: 1 )    - Please choose one

Identify the first step in a strategic planning process.

► Define the company's mission

► Develop the business portfolio
► Plan marketing strategies

► Set objectives and goals

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Question No: 38    ( Marks: 1 )    - Please choose one

The publishers of “The Economist” developed a campaign to market the magazine to university and college students studying business and management courses. The publishers are focusing on which of the following strategies?

► Product development
► Horizontal diversification
► Market development
► Conglomerate diversification
Question No: 39    ( Marks: 1 )    - Please choose one

Information about consumers, competitors and channel members (wholesalers, and retailers) is collected mostly from which one of the following sources?

► External environment
► Internal environment
► Top management
► Middle management
Question No: 40    ( Marks: 1 )    - Please choose one

Suppose marketers at Lever Brothers are trying to determine whether the use of coupons for detergent was the reason for a sales increase in a particular store. What type of study conducted to answer this question?

► Exploratory
► Descriptive
► Causal
► Qualitative
Question No: 41    ( Marks: 10 )
Discuss the reasons of the vanishing mass market.
Mass Marketing: is defined as creation of products in bulk and then companies sell them to the consumer.
Reasons for vanishing Mass market:

1. Now-a-days markets are more customer-oriented and marketers and organizations usually first determine the needs, wants and demands of a consumer and then they create the product which is not what was done in mass marketing.

2. Mass marketing usually follows the Production concept but now-s-days companies and marketers prefer to use the Marketing concept or Societal Marketing concept.
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