MGT301- Principles of Marketing Complete Solved Past 2010 paper

MIDTERM  EXAMINATION

Spring 2010

MGT301- Principles of Marketing (Session - 2)

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Time: 60 min

Marks: 47

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ExamDate:	5/29/2010 12:00:00 AM

For Teacher's Use Only
Q No.	1	2	3	4	5	6	7	8	Total
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Q No.	9	10	11	12	13	14	15	16
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Q No.	17	18	19	20	21	22	23	24
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Q No.	25	26	27	28	29	30	31	32
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Q No.	33	34	35	36	37
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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?

http://www.allvupastpapers.blogspot.com/  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 :