MGT301- Principles of Marketing Solved 2010 Paper

MIDTERM  EXAMINATION

Spring 2010

MGT301- Principles of Marketing

Time: 60 min

Marks: 47

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

Your firm has just developed its first successful MIS. It interacts with information users to assess information needs, develop needed information, _____ the marketing information and help managers use it in their decision making.

       ► Distribute

       ► Collect

       ► Retrieve

       ► Store

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

    People are expected to perform activities according to the persons around them. These activities reflect which one of the following concept?

       ► Motive

       ► Role

       ► Lifestyle

       ► Tradition

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

 Companies are refraining to use poisonous gases in the manufacturing of their products to prevent damage to the environment. The companies are trying to follow:

       ► Production Concept

       ► Product Concept

       ► Marketing Concept

       ► Societal Marketing Concept

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

 If Proctor and Gamble need to know what percentage of customers examines product labels before making a product selection in the supermarket? By which method this study would be accomplished?

       ► Focus groups

       ► Mail surveys

       ► Personal interviews      

       ► Observations

  

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

 Through which process individuals and groups obtain what they need and want by creating and exchanging products and value with others?

       ► Production process

       ► Marketing process

       ► Managerial process

       ► accounting process

   

   

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

 Which one of the following scheme is TRUE regarding marketing research in sequence?

       ► Gathering data, analysis, interpretation

       ► Analysis, gathering data, interpretation

       ► Interpretation, gathering data, analysis

       ► Interpretation, reporting, analysis

   

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

 Which method of research can be used to obtain information if people are unwilling or unable to provide?

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       ► Observations

       ► Focus groups

       ► Personal interviews

       ► Questionnaires

   

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

When a church targets different demographic groups to increase attendance, it is an example of which of the following options?

       ► Not-for-profit marketing

       ► Mindless marketing

       ► Ethics in marketing

       ► Societal marketing

   

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

 Sampling requires the answer to three questions. Which of the following is an inappropriate one?

       ► Who is to be sampled (what sampling unit)?

       ► How many people should be surveyed (what sample size)?

       ► Why should they be sampled (justification)?

       ► How should the people be chosen (what sampling method)?

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

Relationship marketing is a consistent application of up to date knowledge of individual customers to product and service design. Why it is communicated interactively to customers?  http://vustudents.ning.com

       ► For delivering short term value & satisfaction to customers

       ► For delivering long term value & satisfaction to customers

       ► For delivering short term value to management 

       ► For delivering long term value to management

   

Question No: 12    ( 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: 13    ( Marks: 1 )    - Please choose one

 When the size, purchasing power and profiles of business market segments can be determined, they are said to possess the requirement of being what?

       ► Measurable

       ► Accessible

       ► Substantial

       ► Actionable

  

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

 Which one of the following sets reflects the marketing strategy statement in new product development?

       ► Idea generation; idea screening; concept development

       ► Idea generation; concept development; concept testing

       ► Target market description; planned product positioning; sales goals

       ► Idea generation; test marketing; commercialization

   

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

 The concepts of exchange and relationships lead to the concept of a market. Which one of the following sets reflects the market?

       ► Actual buyers & Potential buyers

       ► Whole sellers & Retailers

       ► Consumers & Customers

       ► Agents & Brokers

  

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

 Which one of the following sets represents 4 C’s of the marketing mix?

       ► Customer solution, cost, convenience, communication

       ► Customer, cost, convenience, comfort

       ► Convenience, communication, coverage, cost

       ► Cost, coverage, communication, consultancy

   

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

 Supply's sales force of ABC Company continues to expand, the firm plans to add a fleet of company cars to its sales compensation package. For ABC Company, this would represent which one of the following purchases?

       ► New-task

       ► Modified rebuy

       ► Straight rebuy

       ► Repetitive

  

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

 The Cost to attract a new customer is how much more than to keep a current customer satisfied.

       ► 5 to 10 times

       ► 6 to 12 times

       ► 10 to 20 times

       ► 10 to 15 times

   

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

 XYZ retail store tries to satisfy all its customers and makes every effort in achieving its sales. This is because they believe that losing a customer means not only losing a single sale but the entire stream of purchase that customer will make in his life time of patronage. This phenomenon is known as:

       ► Customer Lifetime Value

       ► Customer Equity

       ► Superior Customer Value

       ► Customer Satisfaction

   

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

 Which one of the following options refers to “The art and science of choosing target markets and building profitable relationships”?

       ► Customer relationship management

       ► Knowledge management

       ► Total quality management

       ► Marketing management

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

 In Boston Consulting Group approach, which one of the following options provides a measure of market attractiveness?

       ► Business portfolio

       ► Market share

       ► Market growth rate

       ► Relative market share

   

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

The process in which individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires is known as:

       ► All of the given options

       ► Consumer behavior

       ► Supplier behavior

       ► Organizational behavior

   

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

 Brand created and owned by the producer of a product or service is called:

       ► National Brand

       ► Private Brand

       ► License Brand

       ► Co-branding

  

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

 Marketing management functions in ascending order are:

       ► Control – implementation – market planning

       ► Market planning – control – implementation

       ► Implementation – control – market planning

       ► Marketing planning – implementation - control

   

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

 The marketing mix consists of the four Ps: product, price, place, and promotion. In this modern marketing era, these tools might be more appropriately named the four Cs: Customer solution, Customer cost, Communication and ___________.

       ► Customer control

       ► Convenience

       ► Consideration

       ► Customer relationship

   

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

 Launching a product in a small part of the market is called: 

       ► Test marketing

       ► Product testing            

       ► Marketing analysis

       ► All of the given

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

 The Planning which is concerned with translating the general goals and plans developed by strategic managers into objectives that are more specific is called:

       ► Strategic Planning

       ► Tactical Planning

       ► Operational Planning

       ► Mission Planning

   

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

 In a business market the buyer has to make the most amount of decisions while making a:

       ► Straight rebuy

       ► New task

       ► Modified rebuy

       ► None of the given options

   

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

 Manufacturers of surf excel are successful in making their product occupy a desirable place in the hearts of its customers. Now surf excel is considered as a powerful all purpose family detergent.  The marketers have successfully ___________ its product.

       ► Differentiated

       ► Targated

       ► Positioned

       ► Segmented

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

 XYZ companying is designing different products for different age groups. They are keeping in mind the needs, wants and demands of the different age groups so that their product would prove successful and profitable. XYZ is practicing

       ► Mass marketing

       ► Segment marketing

       ► Niche marketing          

       ► All of the given options

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

 A good package may:

       ► Protect the product

       ►  Help to sell the product

       ► Raise total distribution cost

       ► All of the given options

   

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

 Which of the following steps in strategic planning occurs at the business unit level rather than the corporate level?

       ► Defining the company mission

       ► Planning marketing strategies

       ► Setting companies objectives and goals

       ► Designing the business portfolio

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

 Which of the following options refers to “New Products”?

       ► Product modifications

       ► Product improvements

       ► New brands that a firm develops

       ► All of the given options

   

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

 A political force is one of the actors of marketing macro environment. It is difficult for the marketers to deal with the political environment because:

       ► It is simple to recognize

       ► It is beyond their control

       ► It is easily ignored

       ► It is easily influenced

   

Question No: 35    ( Marks: 3 )

 Differentiate between performance quality and conformance quality of the product. 

    Answer page 95 will clear.. see product quality

Question No: 36    ( Marks: 5 )

 List down the factors which plays important role for the development and marketing of individual products and services?

    Answer= I believe control and modification in marketing mix is right.

Question No: 37    ( Marks: 5 )  http://vustudents.ning.com

 How many stages are involved in adoption process? 

Answer= awareness . interest, evaluation, trial and adopt.

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