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Saturday, December 11, 2010

MGT301- Principles of Marketing Complete Solved Past 2010 paper

MIDTERM  EXAMINATION
Spring 2010
MGT301- Principles of Marketing (Session - 2)
http://www.allvupastpapers.blogspot.com/
Ref No:
Time: 60 min
Marks: 47
Student Info
 StudentID:

 Center:

 ExamDate:
  5/29/2010 12:00:00 AM


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Question No: 1    ( 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: 2    ( 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
Question No: 3    ( 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
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Question No: 4    ( Marks: 1 )    - Please choose one
 Inelastic demand in industrial markets refers to which of the following situation?
       Demand for a given product fluctuates very little over time.
       Price increases or decreases will not significantly alter demand for a given product.
       The demand for one product depends heavily on the demand for another product.
       Supply for a given product cannot keep up with the demand for it.
   
Question No: 5    ( 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: 6    ( 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
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Question No: 7    ( Marks: 1 )    - Please choose one
 Which one of the following factor indicates "the name, term, sign, symbol, design or a combination of these that differentiate the product of one seller or group of sellers from the other sellers"?
       Brand
       Package
       Label
       Style
   
Question No: 8    ( 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: 9    ( 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: 10    ( 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
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Question No: 11    ( 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
   
Question No: 12    ( 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: 13    ( 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: 14    ( Marks: 1 )    - Please choose one
 The managers of a firm are providing all the facilities and assistance that a customer demands.  As a result of their efforts the customers are satisfied and the firm is enjoying huge profits. The efforts of the manager are considered as part of:

       Customer Relationship Management
       Total Quality Management
       Supply chain Management
       Customer Acknowledgement
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Question No: 15    ( Marks: 1 )    - Please choose one
 MR.Y invested Rs.50000 in a fan manufacturing company. MR Y is a _____________ of the company.
       Stakeholder
       Stockholder
       Customer
       All of the given options
   
Question No: 16    ( Marks: 1 )    - Please choose one
 Which one of the following option 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: 17    ( Marks: 1 )    - Please choose one
 The selling concept is typically practiced for ________ goods.

       Convenience
       Shopping
       Specialty
       Unsought

Question No: 18    ( Marks: 1 )    - Please choose one
 NAFTA is a trade agreement between:


       America, Canada and Mexico
       America, France and Canada
       Germany, Russia and America
       China, Pakistan and India
Question No: 19    ( Marks: 1 )    - Please choose one
 What are the skills that a marketer should possess to successfully achieve the goals of an organization?
       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: 20    ( Marks: 1 )    - Please choose one
 What does this statement show “Trade of value between two parties”?
       Competition
       Transaction
       Agreement
       Need

Question No: 21    ( 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: 22    ( Marks: 1 )    - Please choose one
 In a marketing plan analyzing and reviewing the product, competition, market and the distribution is included in:
       Threats and opportunity analysis
       Objectives and issues
       Marketing strategy  
       Current marketing situation
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Question No: 23    ( Marks: 1 )    - Please choose one
 Neighborhood residents and community organizations comprise part of a firm’s:
       Local Publics
       General Publics
       Governmental Publics
       Financial Publics
   
Question No: 24    ( Marks: 1 )    - Please choose one
 Why is the demographic environment a major interest to marketers?

       Because it involves global financing
       Because it involves people and people make up markets
       Because demographics involve diverse consumer products
       Because demographics focus on local marketing opportunities
   
Question No: 25    ( Marks: 1 )    - Please choose one
 MIS activities begin and end with which of the following?
       Information Users
       Distributors
       Competitors
       Upper Management
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Question No: 26    ( Marks: 1 )    - Please choose one
BY:ADEEL ABBAS
       Marketing research
       Product development
       Image development
       All of the given options
   
Question No: 27    ( Marks: 1 )    - Please choose one
 Which of the following is NOT one of the problems typically associated with secondary data?


       It may not exist
       It might not be current
       It might not be impartial
       It is too expensive to obtain
   
Question No: 28    ( Marks: 1 )    - Please choose one
 Which of the following statements regarding research is TRUE?


       Customers will generally gladly provide information to researchers if it would add value to the products
       Customers will generally give information when they are given compensation for their time
       Customers do not care about the value delivered by their participation in research studies
       All of the given options

Question No: 29    ( Marks: 1 )    - Please choose one
 How is online marketing research conducted?
       By collecting primary data through internet surveys and online focus groups
       By collecting secondary data through the internet
       By collecting primary data through the secondary websites
       None of the given options
   
Question No: 30    ( Marks: 1 )    - Please choose one
 An American fast food started its business in Pakistan but failed to make a profit. After performing a marketing research the managers found out that there food was not spicy enough. The managers failed to consider which of the following factor?


       ► Cultural differences
       Lifestyle differences
       ► Beliefs and attitudes
         Social class
   
Question No: 31    ( Marks: 1 )    - Please choose one
BY: ADEEL ABBAS



       Selective Attention
       Selective Retention
       Selective Distortion
       None of the given option
   
Question No: 32    ( Marks: 1 )    - Please choose one
 When a company decides to go after a large share of one or a few smaller segment instead of going after a small share of a large market, the company is practicing:

       Mass marketing
       Segment marketing
        Niche marketing
       All of the given options
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Question No: 33    ( Marks: 1 )    - Please choose one
 When Sony TV extended its brand into new product categories including webcams, mobiles, DVD players, printers,etc. Sony was engaged in ________
       Brand Extension
       Line Extensions
       Multi Brands
       New Brands
   
Question No: 34    ( Marks: 1 )    - Please choose one
 At the __________ stage in the product life cycle, educating the market remains a goal, but now the company also needs to meet the competition.
       Growth
       Maturity
       Decline
       All of the given options
   
Question No: 35    ( Marks: 3 )
 Briefly describe difference between labeling and packaging?
   
Question No: 36    ( Marks: 5 )
 Do you think that Marketing Decision Support System helps managers to make better marketing decision? If yes then how?                     
   
Question No: 37    ( Marks: 5 )
 Briefly explain the market coverage strategies?
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 A term that describes the tendency of people to interpret information in a way that will support what they already believe is called:
 ABC Company wants to know why the demand of its product is declining. For this purpose the company should perform :