MGT301- Principles of Marketing Completly solved midterm paper fall 2008

MIDTERM  EXAMINATION

Fall 2008

MGT301- Principles of Marketing (Session - 2)

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

If the company’s sales are slow down, and profits level off or decline. At which stage the company has reached?

► Introduction
► Decline
► Growth
► Maturity
Question No: 2    ( Marks: 1 )    - Please choose one
A period of rapid market acceptance and increasing profits refers to which of the following stages of the product life cycle?
► Decline
► Maturity
► Introduction
► Growth
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Question No: 3    ( 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: 4    ( Marks: 1 )    - Please choose one
Which one of the following groups is skeptical and adopts innovations only after most of the market has accepted the product?
► Innovators
► Late majority
► Early Adopter
► Early Majority
Question No: 5    ( 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: 6    ( 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

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Question No: 7    ( 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: 8    ( 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

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

Which one of the following attribute may grab attention and produce pleasing aesthetics, but it does not necessarily make the product perform better?

► Design

► Style

► Variable

► Packaging

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

You have an upset stomach. Your spouse rushes to the corner convenience store for a medicine. This product falls under which of the following categories?

► Unsought

► Convenience

► Shopping

► Specialty

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

Product planners need to think about products and services on three levels. Each level adds more customer value. Which one of the following is the most basic level that addresses the question, “What is the buyer really buying?”

► Actual product

► Augmented product

► Core benefit

► Co-branding

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

Mass marketers, such as Target and Venture Stores, ignore market segment differences and target the whole market with one offer. What is their approach to segmenting?

► Undifferentiated marketing

► Differentiated marketing

► Target marketing

► Intelligent marketing

Question No: 13    ( 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: 14    ( 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
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Question No: 15    ( Marks: 1 )    - Please choose one

Income segmentation is used to target which of the following groups?

► Affluent

► Middle class

► Lower income class

► All of the given options

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

When a company identifies the parts of the market it can serve best and most profitably. Which one of the following factor is in the practice of a company?

► Concentrated marketing

► Mass marketing

► Targeted marketing

► Market segmentation

Question No: 17    ( Marks: 1 )    - Please choose one
Which of the following demands that business markets have more?
► Derived demands
► Steady demands
► Fluctuating
► Competitive
Question No: 18    ( Marks: 1 )    - Please choose one

The mental act, condition or habit of placing trust or confidence in another shows which of the following options?

► Motive

► Belief

► Behavior

► Attitude

Question No: 19    ( 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

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Question No: 20    ( 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: 21    ( 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: 22    ( 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: 23    ( 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: 24    ( Marks: 1 )    - Please choose one

The objective of which of the following research is to gather preliminary information that will help define the problem and suggest hypotheses?

► Descriptive

► Exploratory

► Causal

► Corrective

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

Harvard University is using the systematic design, collection, analysis, and reporting of data relevant to marketing its programs to minority students. What do we call this?

► Promotion

► Self-study

► Marketing research

► Cost-benefit analysis

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

The marketing information system is not limited to use by the company. It may also provide information to which of the following?

► The government

► External partners

► Various publics

► Competitors

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

Beliefs and values that are passed on from parents to children and are reinforced by schools, churches, business and government refer to which of the following beliefs and values?

► Crucial

► Core
► Secondary
► Primary
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Question No: 29    ( Marks: 1 )    - Please choose one
Which of the following forces shows the marketing macro environment?
► Demographic, economic, natural, technological, political, and social
► Demographic, natural, economic, political, social, and cultural
► Demographic, economic, natural, technological, political, and cultural
► Demographic, economic, natural, social, political, and legal
Question No: 30    ( Marks: 1 )    - Please choose one
Finance, research and development, purchasing and manufacturing are all activities of which element of the microenvironment?
► The suppliers

► The competitors

► The companies
► The publics
Question No: 31    ( Marks: 1 )    - Please choose one
Which one of the following is NOT a content of marketing plan?
► Objectives
► Control
► Budget
► Production
Question No: 32    ( Marks: 1 )    - Please choose one

Some banks have increased their market share by offering accounts especially for children in another city. This example illustrates which of the following growth strategies?

► Market penetration
► Market development
► Horizontal diversification
► Conglomerate diversification
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Question No: 33    ( Marks: 1 )    - Please choose one
Three main strategies for intensive growth are market penetration, product development and the other one?
► Product improvement
► Market saturation
► Market growth
► Market development
Question No: 34    ( 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 type?

► Long-range planning

► Short-range planning

► Annual planning

► Strategic planning

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

In case of an intense competition there are a number of manufacturers and buyers who have more options for product switching. Which one of the following forces represents it?

► Threat of new entrants

► Bargaining power of buyers

► Bargaining power of suppliers

► Rivalry among competing firms

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

Which one of the following concepts is a useful philosophy in a situation when the product’s cost is too high and marketers look for ways to bring it down?

► Selling concept

► Product concept

► Production concept

► Marketing concept

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Question No: 37    ( 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?

► Mindless marketing

► Ethics in marketing

► Societal marketing

► Not-for-profit marketing

Question No: 38    ( Marks: 1 )    - Please choose one
If a food company gives 5 percent discount in particular burger to increase sales, it is altering which one of the following elements of the marketing mix?
► Promotion
► Price
► Product
► Place
Question No: 39    ( Marks: 1 )    - Please choose one
An automobile manufacturing company places steel beams in the doors of its cars for which of the following purposes?
► Increase short run customer satisfaction
► Increase long run customer satisfaction
► Add style to its cars
► Reduce the possibility of accidents
Question No: 40    ( Marks: 1 )    - Please choose one

Identify the name for the recent technology advances including wide use of the Internet?

► An old economy

► Transformation

► A new world.

► The digital age

Question No: 41    ( Marks: 10 )

A marketer plays an important role in increasing the sales of an organization. What guiding principles did he follow to become a successful marketer and which skills he needed?

ANSWER:

• He should satisfy the customers' need with quality product, competitive price and satisfaction on the company's brand.
• He should meet the market demand by supplying sufficient quantity of his products as, when and where demanded.
• He should use the modern techniques of promotion of his product or service to convince the mind of customers.
• He should provide good after sale services to further satisfy the customers. Feedback from the market and take remedial measures to improve the quality of product, packaging and labeling should also be improved.
• He will have good market survey to ensure the improvement of his product and competitive price.

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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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MGT301- Principles of Marketing Solved Midterm Paper

MIDTERM  EXAMINATION

Fall 2009

MGT301- Principles of Marketing (Session - 3)

Time: 60 min
Marks: 50

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Question No: 1    ( Marks: 1 )    - Please choose one
An automobile manufacturing company places steel beams in the doors of its cars for which of the following purposes?
► Reduce the possibility of accidents
► Increase short run customer satisfaction
► Increase long run customer satisfaction
► Add style to its cars
Question No: 2    ( Marks: 1 )    - Please choose one

Any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor reflects which one of the following concepts?

► Sales promotion

► Direct marketing

► Advertising

► Personal selling
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Question No: 3    ( 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: 4    ( Marks: 1 )    - Please choose one
Which one of the following statements by a company chairman BEST reflects the marketing concept?
► We have organized our business to satisfy the customer needs
► We believe that marketing department must organize to sell what we produce
► We try to produce only high quality, technically efficient products

► We try to encourage company growth in the market

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

The marketing concept is a philosophy that states that an organization determines the needs and wants of target markets and delivers the desired satisfactions more effectively and efficiently than competitors do. What is the impact of this philosophy on the organization?

► Increase market share
► Increase sales of the products
► Achieve the organization’s goals
► Provide quality products
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Question No: 6    ( Marks: 1 )    - Please choose one

The digital age will fundamentally change customers’ thinking of convenience, speed, price, product information and service. This new consumer thinking will affect which one of the following businesses?

► A few businesses

► Every business

► Established businesses

► Starting up businesses

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
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Question No: 8    ( Marks: 1 )    - Please choose one
Which of the following is an intensive growth strategy of increasing sales in current markets with current products?
► Market development
► Market penetration
► Product development
► Market saturation
Question No: 9    ( 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
Question No: 10    ( 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
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Question No: 11    ( 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: 12    ( Marks: 1 )    - Please choose one
Which type of management is responsible for setting the company’s mission, objectives, broad strategies and policies?
► Top management
► Middle level management
► Low level management
► Functional management
Question No: 13    ( Marks: 1 )    - Please choose one

Which one of the following environment is made up of institutions and other forces affecting society’s basic values, perceptions, preferences and behaviors?

► Cultural environment
► Fictitious environment
► Natural environment
► Political environment
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Question No: 14    ( 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: 15    ( Marks: 1 )    - Please choose one

How would you describe the primary data being used by your firm?

► Collected for the specific purpose

► Original information

► First-time information

► Fresh and reliable than secondary data

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

In the previous three years, four studies have been conducted on the characteristics of ABC Company’s clients. As the firm seeks to put together a report showing trends in this area, it has a hard time locating the information contained in these study reports. What does this firm seem to need?

► A marketing research manager
► A marketing databank
► Survey research
► Primary data
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Question No: 17    ( 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: 18    ( Marks: 1 )    - Please choose one

Which one of the following stage is NOT a part of buyer’s black box?

► Brand choice

► Product choice

► Need recognition

► Dealer choice

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

Groups of people with shared value systems based on common life experiences and situations in a culture represent which one of the following option?

► Motives

► Attitudes

► Cognitive dissonances

► Subcultures

Question No: 20    ( 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
Question No: 21    ( Marks: 1 )    - Please choose one

Maslow has a list of human needs from the most pressing to the least pressing. They include all of the following EXCEPT:

► Physiological needs

► Safety needs

► Need recognition

► Self-actualization

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Question No: 22    ( Marks: 1 )    - Please choose one
Identify the process by which individuals organize and interpret their sensory impressions in order to give meaning to their environment?

► Personality

► Perception

► Selective group

► Habitual behavior

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

Mr. Salman works for an organization in which his purchases must be accountable to the public. His buying procedures are extremely complex. Based on this description, he works for an organization in which market type?

► Reseller

► Producer
► Supplier
► Government
Question No: 24    ( Marks: 1 )    - Please choose one
The fact that organizational customers purchase products to be used directly or indirectly in the production of goods and services to satisfy customers' needs. This situation shows which of the following demands?
► Joint
► Derived
► Inelastic
► Fluctuating
Question No: 25    ( Marks: 1 )    - Please choose one

The receptionist at a doctor's office throws away certain product circulars mailed by pharmaceutical companies and keeps the ones on products she believes are useful. The receptionist is performing which role in the buying centre?

► Influencer
► Buyer
► Decider
► Gatekeeper
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Question No: 26    ( Marks: 1 )    - Please choose one

In its purchase of a small business computer, Mr. Ateeq asked that potential suppliers provide information only on units with 1Mb of memory. As management evaluates the purchase, it finds that 1Mb is inadequate for many of the software programs they use. In this instance, the firm would need to modify which aspect of the purchase process?

► Searching
► Specification development
► Alternative evaluation
► Performance evaluation
Question No: 27    ( Marks: 1 )    - Please choose one

Income segmentation is used to target which of the following groups?

► Affluent

► Middle class

► Lower income class

► All of the given options

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Question No: 28    ( 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
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Question No: 29    ( 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

Question No: 30    ( Marks: 1 )    - Please choose one
The three groups of industrial products and services include all of the following EXCEPT:

► Materials and parts

► Capital items

► Maintenance and operations

► Supplies and services

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

Less frequently purchased consumer products and services which are compared by the customer on different product attributes, refers to which one of the following product?

► Specialty products

► Shopping products

► Unsought products

► Industrial products

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

You have an upset stomach. Your spouse rushes to the corner convenience store for a medicine. This product falls under which of the following categories?

► Unsought

► Convenience

► Shopping

► Specialty

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

Customer service is another element of product strategy. The first step is to survey customers periodically to assess the value of current services and to obtain ideas for new ones. From this careful monitoring, marketer has learned that buyers are very upset by repairs that are not done correctly the first time. What is the name of these types of services?

► Brand equity services

► Product support services

► Social marketing services

► Unsought product services

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Question No: 34    ( Marks: 1 )    - Please choose one
The consumer decides to make use of the product on a regular basis. Which one of the following concepts BEST describe it?
► Awareness
► Interest
► Trial
► Adoption
Question No: 35    ( 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
Question No: 36    ( 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: 37    ( Marks: 1 )    - Please choose one

Honda Atlas Cars Pakistan Limited is introducing a faster model of car in the market regardless of whether the customers are interested or not in more speed, Honda Atlas Cars Pakistan Limited is practicing which of the following concepts?

► Social
► Production
► Sales
► Marketing
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Question No: 38    ( Marks: 1 )    - Please choose one
The marketing concept holds that delivering the desired satisfaction to customers more effectively and efficiently creates customer loyalty. What might be another reason that creates customer loyalty?
► The customers' needs are met at a price that represents value for money
► The company produces a product with enough features to satisfy everybody
► A company offers numerous 'specials' to customers in the market
► The company's marketing activities are persuasive enough
Question No: 39    ( Marks: 1 )    - Please choose one

Buying goods and services for further processing or for use in the production process refers to which of the following markets?

► Consumer markets
► Government markets
► Business markets
► International markets
Question No: 40    ( Marks: 1 )    - Please choose one

Markets can be segmented into group of non-users, ex-users, potential users, first-time users and regular users of a product. It refers to which type of segmentation?

► User status

► Usage rate

► Loyalty status

► Seller status

Question No: 41    ( Marks: 10 )
One of the major developments in marketing can be summed up in one buzzword: relationships. Define customer relationship management and how organizations build long-term relationships with their customers. Briefly explain it with an example.

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Complete Solved Midterm MGT301- Principles of Marketing paper

MIDTERM  EXAMINATION

Fall 2009

MGT301- Principles of Marketing (Session - 3)

Ref No:

Time: 60 min

Marks: 50

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

The type of product that results from applying human and mechanical efforts to people or objects refers to which one of the following options?

► An idea

► A service

► A philosophy

► A concept

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

When Olympia Carpets develops new carpets that are highly stain resistant and durable, it must educate consumers about the product's benefits. This activity calls for which one of the following marketing mix variables?

► Price

► Promotion

► Distribution

► Product

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

Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to which of the following options?

► Customer perceived value

► Marketing myopia

► Customer relationship management

► Customer satisfaction

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

Which one of the following statements by a company chairman BEST reflects the marketing concept?

► We have organized our business to satisfy the customer needs

► We believe that marketing department must organize to sell what we produce

► We try to produce only high quality, technically efficient products

► We try to encourage company growth in the market

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

Which one of the following concepts is a useful philosophy in a situation when the product’s cost is too high and marketers look for ways to bring it down?

► Selling concept

► Product concept

► Production concept

► Marketing concept

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

Which one of the following is a key to build lasting relationships with consumers?

► Price of the product

► Need recognition

► Customer satisfaction

► Quality of product

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

Which one of the following options enables consumers and companies to access and share huge amounts of information with just a few mouse clicks?

► Digital age

► Internet

► Extranet

► WWW

Question No: 8    ( 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: 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

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Question No: 10    ( 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: 11    ( 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: 12    ( Marks: 1 )    - Please choose one

The objective of which of the following research is to gather preliminary information that will help define the problem and suggest hypotheses?

► Descriptive

► Exploratory

► Causal

► Corrective

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

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

► Observations

► Focus groups

► Personal interviews

► Questionnaires

Question No: 14    ( 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: 15    ( Marks: 1 )    - Please choose one

ABC Research Group must guard against problems during the implementation phase of marketing research for its clients. Typically, management will not encounter which of these problems?

► Respondents who refuse to cooperate or give biased answers

► Interviewers who make mistakes or take shortcuts

► Interpreting and reporting the findings

► Primary data that conflict with secondary data

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

Society’s relatively permanent and ordered divisions whose members share similar values, interests and behaviors reflect which one of the following option?

► Social classes

► Habitual buyers

► Charismatic leaders

► Opinion leaders

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

In a reference group, people having special skills, knowledge, personality, or other characteristics, exert influence on others. Which one of the following option refers to these people?

► Opinion leaders

► Habitual buyers

► Charismatic personalities

► Wild ducks

Question No: 18    ( 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: 19    ( Marks: 1 )    - Please choose one

The factors such as the buyer’s age, life-cycle stage, occupation, economic situation, lifestyle, personality and self-concept that influences buyer’s decisions refers to which one of the following characteristic?

► Personal characteristics

► Psychological characteristics

► Behavioral characteristics

► Demographical characteristics

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

Identify the process by which individuals organize and interpret their sensory impressions in order to give meaning to their environment?

► Personality

► Perception

► Selective group

► Habitual behavior

Question No: 21    ( 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: 22    ( Marks: 1 )    - Please choose one

In its purchase of a small business computer, Mr. Ateeq asked that potential suppliers provide information only on units with 1Mb of memory. As management evaluates the purchase, it finds that 1Mb is inadequate for many of the software programs they use. In this instance, the firm would need to modify which aspect of the purchase process?

► Searching

► Specification development

► Alternative evaluation

► Performance evaluation

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

Following are the variables for the segmentation of international markets EXCEPT:

► Geographic factors

► Economic factors

► Cultural factors

► Psychological factors

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

With concentrated marketing, the marketer goes after a _____ share of _____.

► Small; a small market

► Small; a large market

► Large; one or a few niches

► Large; the mass market

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

Beyond quality level, high quality also can mean high levels of quality consistency. Here, “Freedom from defects and consistency in delivering a targeted level of performance” refers to which of the following qualities?

► Perceived quality

► Product quality

► Adherence quality

► Conformance quality

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

Customer service is another element of product strategy. The first step is to survey customers periodically to assess the value of current services and to obtain ideas for new ones. From this careful monitoring, marketer has learned that buyers are very upset by repairs that are not done correctly the first time. What is the name of these types of services?

► Brand equity services

► Product support services

► Social marketing services

► Unsought product services

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

In which of the following cases two established brand names of different companies are used on the same product?

► Brand extension

► Brand equity

► Co-branding

► Cannibalization

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

With what groups do firms conduct concept testing for new products?

► Suppliers

► Employees

► Target customers

► Focus groups

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

Once the product or service passes the business analysis test, it moves into which stage?

► Concept development

► Product development

► Market testing

► Product proposal

Question No: 30    ( 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

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Question No: 31    ( 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: 32    ( Marks: 1 )    - Please choose one

In Boston Consulting Group approach, which one of the following is a measure of company's strength in the market?

► Relative market share

► Market share

► Business portfolio

► Market growth rate

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

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

Finance, research and development, purchasing and manufacturing all are the activities of which element of the micro environment?

► Suppliers

► Retailers

► Companies

► Publics

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

Buying goods and services for further processing or for use in the production process refers to which of the following markets?

► Consumer markets

► Government markets

► Business markets

► International markets

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

Political force is one of the forces of marketing macro environment. Identify the view of marketer about the political forces.

► Simple to recognize

► Beyond their control

► Easily ignored

► Easily influenced

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

Chimney Sweeps employs people to clean fireplaces and chimneys in homes and apartments. The firm is primarily the marketer of which one of the following?

► An image

► A service

► A good

► An idea

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

What does it show “Increasing demand, as well as changing or even reducing demand”?

► Marketing management

► Marketing myopia

► Demarketing

► Relationship management

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

Environmental groups are one kind of which of the following publics?

► Citizen-action publics

► Media publics

► Government publics

► Local publics

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

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

► Product

► Service

► Image

► Sales

Question No: 41    ( Marks: 10 )

How would you classify customers according to their buying behavior based on the type of the product?

Answer:

The customers buying behavior is based on Demographical characteristics, Bargaining, Quality of product and after sale Service. Marketer always should concentrate on buyer’s needs and requirements and provided better quality of service and create good relationship with that kind of customers and plan for marketing accordingly to adhere with those kinds of customers.

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