MGT301- Principles of Marketing solved Complete past midterm paper 2009

MIDTERM  EXAMINATION

Fall 2009

MGT301- Principles of Marketing (Session - 3)  

    

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Question No: 1    ( 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?

   

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

 If a local company wants to adopt the marketing concept. To be consistent with this move, it should adopt which of the following philosophies?
 

       ► Focusing on today is important for us

       ► Making money is our business

       ► The customer is always right

       ► Keeping prices low is our objective

   

Question No: 3    ( 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: 4    ( Marks: 1 )    - Please choose one

 All of the following are accurate descriptions of a company's mission statement, EXCEPT which one?  

       ► Mission statement should fit the market environment

       ► Mission statement should be realistic

       ► Mission statement should be broad

       ► Mission statement should be motivating

   

Question No: 5    ( 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: 6    ( Marks: 1 )    - Please choose one

 Advertising agencies are an example of which of the following marketing intermediaries? 

       ► Insurance company

       ► Financial intermediary

       ► Marketing services agency

       ► Physical distribution firm

   

Question No: 7    ( Marks: 1 )    - Please choose one

 "How people feel about corporations, government agencies, trade unions and universities" refers to which of the following views?

       ► People's view of others

       ► People's view of societies

       ► People's view of themselves

       ► People's view of organizations

Question No: 8    ( Marks: 1 )    - Please choose one

 Which one of the following is NOT a part of the macro-environment? 

       ► Demographic forces

       ► Natural forces

       ► Competitors' forces

       ► Political forces

   

Question No: 9    ( Marks: 1 )    - Please choose one

 Marketing information from which of the following databases can be accessed more quickly and cheaply?

       ► External

       ► Internal & External

       ► Internal

       ► Representatives

   

Question No: 10    ( Marks: 1 )    - Please choose one

 Gathering secondary information is one of the steps of developing the research plan. What does the meaning of secondary information in marketing research? 

       ► That does not currently exist in an organized form

       ► That already exists somewhere, having been collected for another purpose

       ► That the researcher can obtain through surveys and observation

       ► That already exists somewhere in an organized form

   

Question No: 11    ( Marks: 1 )    - Please choose one

 Survey research, called the backbone of primary research, is the most widely used method for primary data collection and is best suited for gathering which of the following information? 

       ► Personal

       ► Attitude

       ► Descriptive

       ► Exploratory

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

 If ABC Ltd knows that its market share in Pakistan has dropped 13 percent in the first quarter of the year but does not know what might have contributed to this decline, it is in which stage of the marketing research process?  

       ► Hypothesis development

       ► Symptom identification

       ► Problem identification

       ► Data interpretation

   

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

 Which one of the following factor is NOT used for measuring the social class? 

       ► Income

       ► Number of children in family

       ► Occupation

       ► Education

   

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

 Which one of the following three-step process represents “Perception”?  

       ► Motivation, personality and attitudes

       ► Collecting, eliminating and organizing information inputs

       ► Receiving, organizing and interpreting information inputs

       ► Anticipating, classifying and discarding information inputs

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

 Person's pattern of living as expressed in his or her psychographics represents which one of the following concept?  

       ► Personality

       ► Culture

       ► Lifestyle

       ► Motive

   

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

 Which one of the following option represents the collection of data for the purpose of applying appropriate actions at a subsequent time? 

       ► Lifestyle

       ► Learning

       ► Perception

       ► Attitude

  

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Question No: 17    ( Marks: 1 )    - Please choose one

 Which one of the following is NOT the stage that customers go through in the process of adopting a new product?

       ► Awareness

       ► Interest

       ► Evaluation

       ► Culture

   

Question No: 18    ( Marks: 1 )    - Please choose one

 After deciding to order replacement parts for ageing machinery, the buyer for a construction company examines catalogues and trade publications. The buyer is probably at which stage of the organizational buying decision process?

       ► Problem recognition

       ► Product specification

       ► Product-supplier search

       ► Product evaluation

   

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

 Demographic segmentation divides the market into groups based on which of the following variables?

       ► Size, location, industry, customer

       ► Size, company, industry, technology

       ► Location, size, occupation, race

       ► Customer, technology, company, industry

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

 Which of the following factors are often used for segmenting customer groups?

       ► Geographic factors

       ► Psychographic factors

       ► Behavioral factors

       ► Demographic factors

   

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

 A marketer has brought same products in the market for all segments without considering the needs and wants of the customers. Which one of the following strategy is being practiced by the marketer?

       ► Undifferentiated marketing strategy

       ► Differentiated marketing strategy

       ► Concentrated marketing strategy

       ► Custom marketing strategy

   

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

 Buyer- seller similarities is an attribute comes under which one of the following concepts?
 

       ► Demographic factors

       ► Personal characteristics

       ► Situational factors

       ► Operating variables

  

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

 Which of the following are those products purchased for further processing or for use in conducting a business?

       ► Unsought products

       ► Specialty products

       ► Shopping products

       ► Industrial products

   

Question No: 24    ( 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: 25    ( Marks: 1 )    - Please choose one

 After concept testing, a firm would engage in which stage for developing and marketing a new product? 

       ► Marketing strategy development

       ► Business analysis

       ► Product development

       ► Test marketing

Question No: 26    ( 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: 27    ( Marks: 1 )    - Please choose one

 In which of the following product life cycle stages, sales are zero and the company's investment costs mount? 

       ► Product development

       ► Introduction

       ► Growth

       ► Maturity

   

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

 In which one of the following stages of the product life cycle sales fall off and profits stop? 

       ► Growth

       ► Introduction

       ► Decline

       ► Maturity

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

 McDonald's run advertisement featuring children, senior citizens and minority groups. What does this ad show? 

       ► Company is product oriented

       ► Company considers only environmental factors

       ► Company has several target markets

       ► Company is market oriented

   

Question No: 30    ( 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: 31    ( Marks: 1 )    - Please choose one

 In a company division, a product line within a division, or sometimes a single product or brand reflects which one of the following options? 

       ► Market

       ► BCG

       ► SBU

       ► Initiator

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

 “Planning that involves developing a strategy to meet competition and ensure long-term survival and growth” represents which one of the following planning types?  

       ► Long-range planning

       ► Short-range planning

       ► Annual planning

       ► Strategic planning

   

Question No: 33    ( Marks: 1 )    - Please choose one

 Which one of the following is a chief goal of the implementation function in marketing process? 

       ► Develops marketing plans

       ► Turns plans into actions

       ► Takes corrective actions

       ► Develops strategic plans

   

Question No: 34    ( Marks: 1 )    - Please choose one

 "Consumers are spending more on products and services that will improve their lives rather than their image” reflects which aspect of the cultural environment? 

       ► People's view of others

       ► People's view of themselves

       ► People's view of organizations

       ► People's view of nature

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Question No: 35    ( 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: 36    ( Marks: 1 )    - Please choose one

 ABC Company wants to learn about consumer attitudes toward mail order purchases and conducts a study to acquire this information. Which one of the following data would BEST be classified for this study?  

       ► Causal

       ► Experimental

       ► Primary

       ► Secondary

   

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

 Which one of the following is NOT considered as competitive differentiation of a company?

       ► Product

       ► Service

       ► Image

       ► Sales

   

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

 Which one of the following characteristics is NOT a requirement for effective segmentation? 

       ► Differential

       ► Achievable

       ► Accessible

       ► Measurable

   

Question No: 39    ( Marks: 1 )    - Please choose one

 Which one of the following product requires a lot of advertising, personal selling and other marketing efforts because consumer either does not know about it or knows about it but does not normally think about buying?

       ► Specialty products

       ► Shopping products

       ► Industrial products

       ► Unsought products

   

Question No: 40    ( Marks: 1 )    - Please choose one

 Business markets can be segmented on the basis of all of the following variables EXCEPT:

       ► Personal characteristics

       ► Operating variables

       ► Selling approaches

       ► Situational factors

   

Question No: 41    ( Marks: 10 )

 Being a marketing manager in a store you have been assigned a task to find out the reasons that why the sales volume is decreasing day by day.  How would you apply the concept of Marketing Information System (MIS) in this store and how it will work?

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