Marketing MCQs covering needs, motives, influences

Marketing MCQs
An economic buyer is a person who

A. logically compares choices to get the greatest satisfaction from spending time and money.
B. makes buying decisions based only on price.
C. will not pay extra for convenience.
D. always buys products at the lowest price possible.
E. is averse to spending time and money.
A. logically compares choices to get the greatest satisfaction from spending time and money.

Which of the following is NOT an economic need?
A. Dependability in use
B. Connection to family
C. Economy of use
D. Convenience
E. Efficiency in use
B. Connection to family

The text discusses a four-level hierarchy of needs. Which of the following is NOT included in
that model?
A. Social needs.
B. Psychological needs.
C. Safety needs.
D. Physiological needs.
E. Personal needs.
B. Psychological needs.

______ needs are concerned with things that involve a person's interaction with others.
A. Physiological
B. Safety
C. Biological
D. Personal
E. Social
E. Social

Psychological theories of motivation and needs suggest that:
A. connecting with others is an example of a personal need.
B. a particular good or service might satisfy different levels of needs at the same time.
C. all consumers satisfy needs in the same order.
D. the desire for a better world is an example of a social need.
E. All of the above are true statements.
B. a particular good or service might satisfy different levels of needs at the same time.

Which of the following is not a selective process used in gathering and interpreting
information from the world around us?
A. Selective exposure
B. Selective perception
C. Selective retention
D. Selective attention

______ refers to processes that screen out or modify ideas, messages, and information that
conflict with previously learned attitudes and beliefs.
A. Selective exposure
B. Selective learning
C. Selective retention
E. Selective perception
E. Selective perception

When Taco Bell shows a large close-up of a chicken taco in a television ad, it is:
A. encouraging selective retention.
B. hoping to encourage extensive problem solving by the audience.
C. appealing to the social needs of the audience.
D. appealing to the economic needs of the audience.
E. using a cue to encourage a particular response to the hunger drive.
E. using a cue to encourage a particular response to the hunger drive.

_____ is a person's point of view towards a product, an advertisement, a salesperson, a
firm, or an idea.
A. An attitude
B. A belief
C. A preference
D. An impression
E. A cue
A. An attitude

Consumers' attitudes can be learned from:
A. exposure to the attitudes of others.
B. promotion which is directed toward them.
C. previous experiences.
D. All of the above could be true.
E. None of the above.
D. All of the above could be true.

Psychographics is the analysis of a person's day-to-day pattern of living as expressed in that
person's
A. safety, social, and personal needs.
B. actions, interests, and occupation.
C. activities, interests, and opinions.
D. culture, beliefs, and attitudes.
E. psychological and physiological needs.
C. activities, interests, and opinions.

Which of the following is NOT a social influence in consumer buying?
A. Social class
B. Beliefs
C. Family
D. Reference groups
E. Culture
B. Beliefs

According to the text, social class in the U.S. is usually measured in terms of:
A. income.
B. occupation, education, and housing arrangements.
C. income, occupation, and education.
D. race, religion, and occupation.
E. income, occupation, and religion.
B. occupation, education, and housing arrangements.

Reference group
A. influence is so strong that a person normally has only one reference group.
B. influence is greatest for older people.
C. influence is equally strong for all products and brands.
D. members may not even know the people who influence their values and attitudes.
E. Both B and C are true.
D. members may not even know the people who influence their values and attitudes.

In the Jockey underwear ads using young people on the beach and the slogan, "Let 'em
know you're Jockey", the company is hoping to use __________ groups to influence
consumer behavior.
A. cultural
B. family
C. opinion
D. reference
E. social
D. reference

A college student on her way to take an exam remembers that she doesn't have a pencil with
an eraser--which the instructor asked everyone to bring. The store where she stops doesn't
have regular pencils--but it does sell Scripto mechanical pencils priced at $2.95. That is
what she buys. This case illustrates the effect of:
A. personal environment.
B. culture.
C. purchase situation.
D. learned set.
E. dissonance.
C. purchase situation.

Which of the following is NOT one of the levels of consumer problem solving discussed in
the text?
A. Dissonance problem solving
B. Routinized response behavior
C. Extensive problem solving
D. Limited problem solving
E. None of the above, i.e. all four are discussed.
A. Dissonance problem solving

Limited problem solving is used
A. when consumers put much effort into deciding how to satisfy a need.
B. for purchases that have little importance or relevance for the customer.
C. by consumers when some effort is required in deciding the best way to satisfy a need.
D. when consumers regularly select a particular way of satisfying a need when it occurs.
E. mostly for impulse purchases.
C. by consumers when some effort is required in deciding the best way to satisfy a need.

Routinized response behavior
A. is most likely when past purchases of similar products have not satisfied the consumer's
needs.
B. is more likely when previous behavior has not yet been reinforced.
C. is most common for purchases where the consumer has much experience in how to meet
a need.
D. increases the time required to make a purchase decision.
E. is likely in a new purchase situation.
C. is most common for purchases where the consumer has much experience in how to meet a
need.

Dissonance
A. discourages a consumer from considering further information once a purchase has been
made.
B. is likely to result in a consumer buying the same product next time.
C. is more likely to occur with low involvement products.
D. is less likely to occur when a consumer has repeatedly purchased the same product.
E. occurs in the adoption process after a consumer becomes interested in a product.
D. is less likely to occur when a consumer has repeatedly purchased the same product.

Which of the following is NOT an organizational buyer?
A. The Red Cross buying office supplies.
B. A sporting goods retailer buying skis.
C. A law office buying a background music service.
D. None of the above are organizational buyers.
E. All of the above are organizational buyers.
E. All of the above are organizational buyers.

Bank of Omaha is an example of what type of organizational customer?
A. Government
B. Nonprofit
C. Producer
D. Intermediary
C. Producer

Macy's is considered which type of organizational customer?
A. Producer.
B. Intermediary.
C. Government.
D. Nonprofit.
B. Intermediary.

In comparison to the buying of final consumers, the purchasing of organizational buyers:
A. is strictly economic and not at all emotional.
B. is always based on competitive bids from multiple suppliers.
C. leans basically toward economy, quality, and dependability.
D. is even less predictable.
E. Both A and C are true statements.
C. leans basically toward economy, quality, and dependability.

Buying specialists for organizations are commonly called:
A. supply agents.
B. vendor agents.
C. value analysts.
D. purchasing managers.
E. consumer buyers.
D. purchasing managers.

During the purchase of janitorial services for a new building, Teresa has responsibility for
working with suppliers and arranging the terms of the sale. In this role, Teresa appears to be
acting as
A. a gatekeeper.
B. a decider.
C. a buyer.
D. a user.
E. an influencer.
C. a buyer.

During the purchase of new tooling at Acme Tool and Die, which of the following is an
example of a gatekeeper?
A. Sara, a purchasing manager, arranges the terms of the sale.
B. Ross, from R&D, supplies information for evaluating alternatives.
C. Charlotte, in manufacturing, has the power to select or approve suppliers.
D. Andre, a research assistant, gathers and distributes information about alternatives.
E. Rita, from the manufacturing floor, will use the new tooling.
D. Andre, a research assistant, gathers and distributes information about alternatives.

Natalie Simopoulos, director of procurement at Grecian Glass Company must approve every
purchase order, and Anthony Markatos, purchasing manager, must authorize any sales rep
who wants to talk to a Grecian Glass employee. Natalie and Anthony are acting as _____
and _____, respectively.
A. decider and gatekeeper
B. influencer and user
C. gatekeeper and influencer
D. buyer and decider
E. user and gatekeeper
A. decider and gatekeeper

When a company creates a rating form for its suppliers and rates their on-time delivery,
product quality, service advice, and so forth, in order to determine which suppliers to put on
an approved list of suppliers for specific products, this process is called a(n):
A. JIT rating.
B. resident buyer analysis.
C. vendor analysis.
D. ISO 9000 certification.
E. buying center analysis.
C. vendor analysis.

Which of the following is NOT one of the organizational buying processes discussed in the
text?
A. Multiple task buying.
B. Modified rebuy buying.
C. New-task buying.
D. Straight rebuy buying.
E. None of the above, i.e., all are buying processes.
A. Multiple task buying.

New-task buying
A. is a routine repurchase that may have been made many times before.
B. occurs when an organization has a new need and the customer wants a great deal of
information.
C. is an in-between process where some review of the buying situation is done.
D. occurs when an organization has a routine need and the customer wants only minimal
information.
E. involves no review of suppliers.
B. occurs when an organization has a new need and the customer wants a great deal of
information.

When a company is trying to decide which type of smart phone to purchase for its sales staff
and has never had to make that specific type of purchase before, this buying situation is
called a(n):
A. Straight rebuy.
B. New-task buy.
C. JIT buy.
D. Modified rebuy.
E. ISO 9000 buy.
B. New-task buy.

A purchase having some multiple influence and requiring some information would fit the
description of a
A. new-task buy.
B. modified buy.
C. straight rebuy.
D. modified rebuy.
E. simplified buying.
D. modified rebuy.

The Foreign Corrupt Practices Act:
A. prohibits U.S. firms from paying bribes to foreign officials.
B. levies stiff penalties against people who pay bribes.
C. applies to foreign firms or individuals who accept payments while in the U.S.
D. was amended to allow small grease money payments if they are customary in that
country.
E. All of the above.

Marketing research:
A. provides new information for use in decision-making.
B. must be a joint effort between the researcher and the manager.
C. may be handled by outside specialists or by people within the firm.
D. All of the above are true.
E. None of the above is true.

A ______________ is an organized way of continually gathering and analyzing data to
get information to help marketing managers make ongoing decisions.
A. marketing information system
B. marketing model
C. marketing research project
D. marketing research department
E. marketing logistics system
A. marketing information system

A complete marketing information system should:
A. provide a good overall view on many types of problems.
B. allows marketing managers to get needed information while they are actually making
decisions.
C. provide answers to specific questions.
D. continually gather data from internal and external sources, and from market research
studies.
E. All of the above are true.

Regarding "marketing research" and "marketing information systems":
A. marketing information systems gather, access, and analyze data from intracompany
sources, while marketing research handles all external sources.
B. both tend to focus on nonrecurring information needs.
C. marketing information systems tend to increase the quantity of information available for
decision making, but with some decrease in quality.
D. most firms have gone "too far" trying to apply modern decision-making techniques.

Which of the following statements BEST reflects the point of view of the text with respect to
marketing research?
A. "We don't use computers, surveys and the like because marketing's information needs are
usually not that precise anyway."
B. "When we work with outside marketing research specialists, we expect them to take the
time to really understand the problem we are trying to solve."
C. "As marketing manager, I feel that the marketing researchers should be left alone to do
their research--since they often come up with interesting suggestions."
D. "As marketing research director, I should know the marketing manager's position in
advance, so we can prove it is correct if possible."
E. "Our company is very small, but we should have our own marketing research department
anyway--to get the information we need to make good decisions."
B. "When we work with outside marketing research specialists, we expect them to take the
time to really understand the problem we are trying to solve."

The scientific method is important in marketing research because it:
A. forces the researcher to follow certain procedures, thereby reducing the need to rely on
intuition.
B. develops hypotheses and then tests them.
C. specifies a marketing strategy which is almost bound to succeed.
D. Both A and B are correct.
E. All of the above are correct.
D. Both A and B are correct.

Educated guesses about the relationships between things or about what will happen in the
future are:
A. theories.
B. laws.
C. "facts."
D. hypotheses.
D. hypotheses.

Which of the following is NOT part of the five-step marketing research process discussed in
the text?
A. Writing the proposal
B. Analyzing the situation
C. Solving the problem
D. Interpreting the data
E. Defining the problem
A. Writing the proposal

Often the most difficult step in the marketing research process is:
A. analyzing the situation.
B. defining the problem.
C. getting problem-specific data.
D. interpreting the data.
B. defining the problem.

When a marketing manager scans a firm's MIS to try to obtain information about why the
firm's product sales are down, this is an example of a(n):
A. intranet.
B. hypothesis testing.
C. experiment.
D. data warehouse.
E. situation analysis.
E. situation analysis.

Which of the following statements concerning secondary data is correct?
A. Secondary data usually takes longer to obtain than primary data.
B. Secondary data is only available within the firm.
C. Secondary data was originally collected for some other purpose.
D. All of the above are correct.
E. None of the above are correct.
C. Secondary data was originally collected for some other purpose.

Which of the following statements about secondary data is correct?
A. Secondary data is obtained only from sources outside of the firm.
B. Secondary data may be available much faster than primary data.
C. Results of "old" surveys are not secondary data.
D. Secondary data is usually more expensive to obtain than primary data.
B. Secondary data may be available much faster than primary data.

____ is an example of a primary data source.
A. Cost data
B. A marketing information system
C. Company files
D. Observation
E. Library
D. Observation

The big advantage of qualitative research in marketing is:
A. ease of interpretation.
B. it provides a good basis for statistical analysis.
C. the in-depth responses it provides.
D. the analysis can be handled on a personal computer.
C. the in-depth responses it provides.

A consumer products manufacturer wants consumer reaction to its existing products.
Interaction is considered important to stimulate thinking. The firm should use:
A. the observation method.
B. focus group interviews.
C. the GSR (galvanic skin response) method.
D. quantitative interviews.
E. telephone interviews.
B. focus group interviews.

Which of the following is a disadvantage of quantitative research (compared to qualitative
research)?
A. It is harder to get in-depth answers.
B. The conclusions are likely to vary more from analyst to analyst.
C. The results are harder to summarize.
D. It is not as fast for respondents.
A. It is harder to get in-depth answers.

According to the text, "product":
A. means a physical good.
B. includes all the elements of a marketing mix.
C. means the need-satisfying offering of a firm.
D. refers to goods but not services.
C. means the need-satisfying offering of a firm.

From a marketing perspective, a high quality copy machine is one that:
A. does a good job satisfying a customer's requirements or needs.
B. offers the most features.
C. is produced with the best materials.
D. has the longest warranty.
E. is designed and manufactured to last the longest.
A. does a good job satisfying a customer's requirements or needs.

Saxon Shoes is a large independent shoe store. In the men's department, the store offers
three different brands of slip-on tassel loafers for men: Bass, priced at $75; Rockport, priced
at $125; and Allen Edmonds, priced at $250. In terms of product quality, which of the
following is an accurate statement?
A. The Bass shoes have the lowest quality.
B. The Allen-Edmonds shoes have the highest quality.
C. The Rockport shoes have mid-level quality.
D. The quality of the three brands depends on the degree to which they meet the needs of
the consumers in the target market.
D. The quality of the three brands depends on the degree to which they meet the needs of the
consumers in the target market.

A "product" might include:
A. a brand name, a package, and a warranty.
B. instructions.
C. a service which does not include a physical good at all.
D. some physical item and its related features.

Services, as opposed to physical products:
A. May be stored for later use.
B. Are usually sold first, and then produced.
C. Are usually produced and consumed in different time frames.
D. Never require the presence of the consumer in order to be performed.
B. Are usually sold first, and then produced.

A large U.S. firm produces potato chips, shortening, dishwasher detergent, laundry
detergent, shampoo, disposable diapers, and facial tissues. These are the firm's
A. product classes.
B. product assortment.
C. individual products.
D. marketing mix.
E. product line.
B. product assortment.

Which of the following could be an example of a firm's product line?
A. Coffees.
B. Disposable diapers.
C. Snow skis.
D. Ski boots.

Branding is good for some CONSUMERS because it:
A. makes shopping easier.
B. provides dependable guides to product quality.
C. helps assure regular satisfaction.
D. All of the above.

Branding can help BRANDERS because it:
A. may lower promotion costs.
B. can improve the company's image.
C. encourages repeat buying.
D. may develop customer loyalty.

Branding:
A. is especially helpful with a low quality product.
B. is handled by manufacturers, but not intermediaries.
C. helps consumers, but it is bad for the firm because it increases expenses.
D. is more likely to be successful if demand for the general product class is strong enough to
allow a profitable price.
D. is more likely to be successful if demand for the general product class is strong enough to
allow a profitable price.

Which of the following conditions would not be favorable to branding?
A. Dependable and widespread availability is possible
B. Economies of scale in production
C. Fluctuations in product quality due to inevitable variations in raw materials
D. Product easy to identify by brand or trademark
E. Demand is strong so the price can be high enough to be profitable
C. Fluctuations in product quality due to inevitable variations in raw materials

Which of the following is NOT a level of brand familiarity?
A. Brand nonexistence.
B. Brand rejection.
C. Brand nonrecognition.
D. Brand preference.
E. Brand insistence.
A. Brand nonexistence.

Ross Wrigley refuses to buy Billy Goat brand of beer, his attitude toward this brand is called
_____.
A. brand rejection
B. brand familiarity
C. brand nonrecognition
D. brand recognition
E. brand positioning
A. brand rejection

If members of the target market for an Apple iPad do not initially recognize the brand name,
but compelling advertising results in more members remembering the brand, we say the
Apple iPad has achieved:
A. brand rejection.
B. brand preference.
C. brand nonrecognition.
D. brand insistence.
E. brand recognition.
E. brand recognition.

Characteristics of a good brand name include all of the following except:
A. Be easy to spell and pronounce.
B. Be trendy and fashionable.
C. Describe the product and key benefits.
D. Be legally available for use by the firm.
E. Match the brand's packaging.
B. Be trendy and fashionable.

A trademark or brand name can become public property if:
A. the owner doesn't renew the registration each year.
B. it becomes a common descriptive word for the product.
C. the owner doesn't register it under the Lanham Act.
D. it is sold in international markets.
B. it becomes a common descriptive word for the product.

Boatwright College gives manufacturers of clothing and gift items permission to place the
college's name and emblem on a wide variety of merchandise. In return, Boatwright is paid
a fee for granting this permission. In this case, the Boatwright name and logo is a:
A. Manufacturer brand.
B. Individual brand.
C. Dealer brand.
D. Licensed brand.
E. Private brand.
D. Licensed brand.

Packaging
A. can serve as a useful enhancement tool.
B. can increase costs to the consumer.
C. can serve as a useful promotional tool.
D. is concerned with protecting the product in shipping and on the shelf.

B. A package should satisfy not only the needs of final consumers but also those of
intermediaries.

Consumer product classes are based on ______________, while business product classes
are based on ______________.
A. how the product is to be used, the price for the product
B. how consumers shop for the product, how the product is to be used
C. the price of the product, the quality of the product
D. how the product is produced, how the product is sold
E. how the product is sold, how the product is produced
B. how consumers shop for the product, how the product is to be used

Which of the following is NOT one of the consumer product classes discussed in the text?
A. Unsought products
B. Imitation products
C. Shopping products
D. Convenience products
E. Specialty products
B. Imitation products

Convenience products are products
A. a consumer needs but is not willing to spend much time or effort shopping for.
B. which consumers are aware of but not interested in.
C. meant for use in producing other products.
D. toward which consumer attitudes may be negative.
E. that consumers want because they are easy to use or consume.
A. a consumer needs but is not willing to spend much time or effort shopping for.

If a consumer product is used regularly and usually bought frequently and routinely with
little thought (although branding may be important), this product is:
A. a routine product.
B. a specialty product.
C. a homogeneous shopping product.
D. a staple product.
E. a casual product.
D. a staple product.

Compared to other consumer products, the major distinguishing characteristic of
emergency products is the customer's:
A. desire to negotiate for a "deal."
B. urgency to get the need satisfied.
C. willingness to shop around for a lower price.
D. interest in the brand name.
E. willingness to shop and compare.
B. urgency to get the need satisfied.

Regarding consumer product classes, a convenience product is to an emergency product as
A. a staple is to an emergency product
B. a shopping product is to a heterogeneous shopping product
C. an unsought product is to a specialty product
D. a new unsought product is to a regularly unsought product
E. a specialty product is to a homogeneous shopping product
B. a shopping product is to a heterogeneous shopping product

Consumer products which customers see as basically the same and want to buy at the lowest
price are called:
A. heterogeneous shopping products.
B. homogeneous shopping products.
C. comparison products.
D. unsought products.
E. convenience products.
B. homogeneous shopping products.

Lisa Campos was interested in buying a coffee pot to use at college and a cassette player for
her sister's birthday present. At the local discount store, she compared prices on coffee pots
and chose the cheapest. She read the product information on each cassette player and finally
chose one with stereo headphones and a rechargeable battery. For Lisa, the coffee pot was
A. a convenience product, but the cassette player was a specialty product.
B. a heterogeneous shopping product, but the cassette player was a staple.
C. an impulse product, but the cassette player was a convenience product.
D. a specialty product, but the cassette player was a heterogeneous shopping product.
E. a homogeneous shopping product, but the cassette player was a heterogeneous shopping
product.
E. a homogeneous shopping product, but the cassette player was a heterogeneous shopping
product.

Specialty products are consumer products which:
A. have elastic demand.
B. very few customers want or can afford to buy.
C. are relatively expensive and purchased only rarely.
D. consumers are willing to search for because they really want them.
D. consumers are willing to search for because they really want them.

Which of the following is an "unsought product"?
A. Gravestones aimed at "senior citizens."
B. A new type of "health food" produced by a new, small company.
C. Life insurance aimed at college students.
D. Encyclopedias aimed at new parents.

The product life cycle has four stages. Which of the following is not one of these?
A. Market introduction
B. Market growth
C. Market maturity
D. Economic competition
E. Sales decline
D. Economic competition

As a product moves through its product life cycle:
A. a firm should change its target market--but not its marketing mix.
B. the competitive situation moves toward monopoly.
C. industry profits keep increasing along with industry sales.
D. customers' needs and attitudes may change.
D. customers' needs and attitudes may change.

During the market introduction stage of the product life cycle:
A. considerable money is spent on promotion while place development is left until later
stages.
B. products usually show large profits if marketers have successfully carved out new
markets.
C. most potential customers are quite anxious to try out the new-product concept.
D. funds are being invested in marketing with the expectation of future profits.
E. product and promotion are more important than place and price.
D. funds are being invested in marketing with the expectation of future profits.

Total industry profits reach their maximum during the __________ stage of the product
life cycle.
A. market maturity
B. sales decline
C. market development
D. market introduction
E. market growth
E. market growth

Health Care Products Company has noticed that in one of its product-markets industry sales
have leveled off and competition has been getting tougher. This product-market appears to
be in the ____ stage of the product life cycle.
A. market maturity
B. market introduction
C. market growth
D. sales decline
E. market decline
A. market maturity

Midway, Inc. has seen most of its competitors drop out of its product-market due to
declining industry sales and profits. But Midway still has much demand for its product from
a small group of loyal customers. This product-market is in which product life cycle stage?
B. Market maturity
C. Market development
D. Market growth
E. Sales decline
E. Sales decline

Which of the following observations concerning the product life cycle is NOT TRUE?
A. Product life cycles describe industry sales and profits for a product idea within a
particular product-market.
B. The sales and profits of an individual brand follow the life-cycle pattern.
C. A product idea may be in a different life-cycle stage in different markets.
D. Product life cycles should be related to specific markets.
E. A given firm may introduce or drop a specific product during any stage of the product life
cycle.
B. The sales and profits of an individual brand follow the life-cycle pattern.

In the market introduction stage of a fast product life cycle, _____ helps develop loyal
customers early and keeps competitors out.
A. a low initial penetration price
B. intensive distribution
C. promotion that builds selective demand
D. promotion that reminds
E. a market skimming price
A. a low initial penetration price

Which of the following is LESS LIKELY to happen as a product moves through the later
stages of the product life cycle?
A. Place - move toward selective distribution.
B. Promotion - build selective demand.
C. Price - meet competition.
D. Competitive situation - Heading toward pure competition.
E. Product - Some drop out.
A. Place - move toward selective distribution.

According to your text, which of the following is an example of a "new product"?
A. An existing product that has been modified in some way.
B. An existing product for which new uses have been found in other product-markets.
C. An existing product being offered to new markets.

According to the FTC, for a producer to call a product "new," the product:
A. must be no more than two months old.
B. must have achieved brand insistence.
C. must be entirely new or changed in a functionally significant or substantial respect.
D. must have been changed in some way during the last year.
E. None of the above is a correct answer.
C. must be entirely new or changed in a functionally significant or substantial respect.

Which of the following is NOT a separate stage of the new-product development process?
A. Idea generation.
B. Screening.
C. Idea evaluation.
D. Marketing Research.
E. Commercialization.
D. Marketing Research.

Which of the following is an effective source of ideas at the idea generation stage of the new-
product development process?
A. Customer complaints.
B. Lead-users of the product.
C. Competitors' products.
D. Products found in overseas markets.

The Consumer Product Safety Commission can:
A. order costly repairs of "unsafe products."
B. back up its orders with fines or jail sentences.
C. set safety standards for products.
E. Both A and C--but NOT B.

It is difficult to maintain consistent quality in services because
A. services are nonperishable.
B. as opposed to products, services are tangible in nature.
C. the server is inseparable from the service.
D. variability is reduced as more humans are involved in delivery.
E. it requires minimum human interaction.
C. the server is inseparable from the service.

_____ means giving employees the authority to correct a problem without first checking
with management.
A. Responsibility adjustment
B. Empowerment
C. Training
D. Induction
E. Benchmarking
B. Empowerment

Regarding product life cycles, which is TRUE?
A. Industry sales and profits tend to reach their maximum during the market maturity stage.
B. Product life cycles describe industry sales and profits within some product-market.
C. Product life cycles are generally getting shorter and cannot be extended.
D. Every new brand must pass through all four stages of the product life cycle.
B. Product life cycles describe industry sales and profits within some product-market.

According to the text, product life cycles are:
A. getting longer.
B. speeding up in the later stages.
C. now about the same length as 100 years ago.
D. getting shorter.
E. slowing down in the early stages.
D. getting shorter.

As a product moves into the market maturity stage of its life cycle, the marketing manager
should:
A. try to build primary demand.
B. move toward exclusive distribution.
C. expect the market to move toward pure competition.
C. expect the market to move toward pure competition.

Regarding product life cycles, good marketing managers know that:
A. all new brands start off in the market introduction stage.
B. product life cycles can be extended through product modifications.
C. a product must pass through all the product life cycle stages.
D. no strategy planning is needed during the sales decline stage.
E. a firm should use penetration pricing during market introduction, especially if the cycle is
expected to move slowly.
B. product life cycles can be extended through product modifications.

Kodak announced that it would no longer produce 35 millimeter film cameras, but would
manufacture digital cameras exclusively. Sales of digital cameras have grown steadily and
have far outpaced the sale of 35 mm cameras in recent years, even among professional
photographers. Kodak's decision indicates that 35 mm cameras are probably in the
________ stage of the product life cycle.
B. Market growth
C. Sales decline
D. Market maturity
C. Sales decline

Top management of a large company recently approached the dean of a major business
school about starting a specialized MBA program for the company's employees. After
further discussions, the dean decided that the program did not fit well with the objectives
and resources of the school, so the program was put on the "back burner" until conditions
changed. The proposed MBA program was at what stage of the new-product development
process when it was shelved?
Idea generation
A. Screening
B. Idea evaluation
C. Development
D. Commercialization
B. Idea evaluation

Which of the following statements about new-product development are true?
A. The process should be informal to encourage innovation.
B. The greatest number of product ideas is in the idea evaluation stage.
C. The best criteria for evaluating new product ideas in the early stages is return on
investment (ROI).
D. The process should have top management support.
All of the above statements are true.
D. The process should have top management support.

Target's "Cherokee" brand of men's clothing is available only at Target stores. The brand
provides a low-cost alternative to other men's fashions available at department stores and
via catalogs. The Cherokee brand is a(n):
A. manufacturer brand.
B. dealer brand.
C. licensed brand.
D. national brand.
E. generic brand.
B. dealer brand.

Heinz has a new ketchup bottle that has the cap on the bottom, instead of the top. The bottle
uses gravity to help the consumer get every last drop of ketchup out of the bottle. The cap is
also designed to pour cleanly, so that dried ketchup does not accumulate around the
opening. This new bottle demonstrates how packaging can:
A. promote product.
B. protect the product.
C. lower distribution costs.
D. incorporate UPC codes.
E. enhance product usage.
E. enhance product usage.

McDonald's announced that at select locations, if drive-through customers do not get
exactly what they want within two minutes of placing the order, their next meal will be free.
This promise by McDonald's is a good example of a(n):
A. service guarantee.
B. warranty.
C. unit price.
D. limited warranty.
E. no-fault insurance policy.
A. service guarantee.

Jack White wanted to purchase a new dress shirt. He went to a local department store,
toured the men's department, and thought all the brands looked about the same. He decided
to buy the store brand shirt, because it was the cheapest. For Jack, the new shirt was a(n):
A. convenience product.
B. heterogeneous shopping product.
C. specialty product.
D. homogeneous shopping product.
E. impulse product.
D. homogeneous shopping product.

Edna Bates, a marketing researcher who is an expert in customer satisfaction research, is
asked by a client to conduct a study dealing with a completely uNfamiliar research topic.
Edna consults secondary data to gain more insight about this unfamiliar area. Edna is
engaged in the _________ stage of the marketing research process.
A. problem definition
B. situation analysis
C. gathering problem-specific data
D. data interpretation
E. solving the problem
B. situation analysis

A researcher wants to study 1,000 consumers and
needs information about a lot of personal and
sensitive issues. Which of the following would be
the best way to gather this information?
A. Mail survey
B. Focus group
C. Telephone survey
D. Face-to-face interview
E. Experiment
A. Mail survey

A sales training firm wants feedback on the quality of its classes and training services. The
firm planned to send mail surveys to CEOs of its client companies to get the needed
information. However, one executive objected to the survey plan, saying, "CEOs don't attend
our classes. How will they know if the classes are any good?" Another executive added, "If
the survey isn't relevant to the CEOs, it will be thrown away and we'll get no data." It
appears that the research design presents problems with:
A. response rate.
B. relevance of population.
C. validity.
D. improper statistical analysis.
E. both A and B.
E. both A and B.

A marketing research firm conducted a telephone survey for a consumer products company.
It provided new and interesting information about brand image, the competition, and other
topics. At the end of the research company's results presentation, the sales manager
commented, "This is all interesting information, but it doesn't tell me why our market share
is declining among 18 to 34 year old women, nor does it offer me any suggestions about
actions I can take to deal with the situation." The sales manager's complaint suggests that
the research suffers from problems with:
A. a lack of action implications for management.
B. poor planning by the researcher and managers C. at the outset of the project.
D. poor sampling.
E. a low response rate.
both A and B.
E. a low response rate.

Consuela Velasquez is a receptionist for a group of seven physicians. As she controls the
calendars for the physicians, any sales representatives from pharmaceutical companies
wanting to call on the physicians have to go through Consuela. As a result, it is very
important for sales reps to cultivate a good relationship with her. In the buying center,
Consuela would be best described as a:
A. buyer.
B. user.
C. influencer.
D. gatekeeper.
E. decider.
D. gatekeeper.

Ahmed Jamison is a purchasing specialist for a large company. He has the authority to
execute purchase orders or amounts up to $100,000. On a purchase order for a higher
amount, Ahmed arranges the terms of sale, but the transaction has to be approved by the
company president. In the buying center for a purchase in excess of 100,000,
Ahmed is a _________ and the president is a _________:
A. buyer; influencer.
B. influencer; buyer.
C. buyer; decider.
D. gatekeeper; decider.
E user; influencer.
C. buyer; decider.

Nikita Jackson, a sales representative for an industrial supply house, calls on a prospective
business customer. The customer has an established relationship with another supplier, but
says that there have been some reliability problems with deliveries. Nikita seizes the
opportunity to describe her company's state-of-the-art logistics and transportation system
that provides outstanding delivery reliability at low shipping costs. Nikita is encouraged
because her customer seems to be in a ___________ situation.
A. straight rebuy
B. modified rebuy
C. new-task
D. extensive problem-solving
E. limited problem-solving
B. modified rebuy

Auto parts wholesaler Fixem, Inc. decides to invest in a new data management system to
increase the efficiency of its warehouse operations. Previously, all record-keeping was done
via printed documents, but now all transactions will be electronic. This change will require
Fixem to expend a significant amount of money for hardware, software, and training.
However, in the long run, the cost savings
should exceed the up-front investment. Fixem has arranged for presentations to be made by
three different vendors. Fixem seems to be facing a ______________ buying situation.
A. straight rebuy
B. modified rebuy
C. new-task
D. extensive problem-solving
E. limited problem-solving
C. new-task

Gotcha! is a chain of trendy stores catering to the urban contemporary market. As part of its
close relationship with suppliers, Gotcha! has an Internet site that is accessible only by
suppliers, and it provides up-to-the minute point-of-sale information from all of the Gotcha!
stores. Suppliers can see how their products are doing at retail during any
time of the day or night. In the relationship between
Gotcha! and its suppliers, the Gotcha! supplier site is an example of:
A. information sharing.
B. legal bonds.
C. reciprocity.
D. operational linkages.
E. negotiated contracts.
A. information sharing.

Ads for Haynes Jeep-Chrysler feature the slogan,
"Come to Haynes, where the fun begins." This is
an appeal to the consumer's:
A. physiological need.
B. safety need.
C. personal need.
D. social need.
E. information need.
C. personal need.

Pat purchased a Ford Taurus, but traded it for
another brand before it was out of warranty
because it constantly needed repairs. Now, every
time Pat sees an ad that mentions the quality of
Ford's new vehicles all she can think about is the
problems she had with her Taurus. This an
example of:
A. need-based thinking.
B. selective retention.
C. selective exposure.
D. selective perception.
E. psychographics.
D. selective perception.

Anime, the cartoon-like Japanese art form, has generated significant interest among
Generation Y consumers in the U.S. Anime conventions occur frequently and the largest
ones draw more than 20,000 attendees. Anime fans, many in costume, come to these
conventions to shop, participate
in anime workshops, and to simply hang out with people with similar interests. Promotion
of these conventions capitalizes mainly on:
A. learning.
B. psychological needs.
C. selective processes.
D. reference group influences.
E. culture.
D. reference group influences.

Alice was a bit unsure about her decision after buying a new car. Her uneasiness was
diminished after receiving a congratulatory note from the owner of the dealership. The note
contained a coupon stating that her first scheduled maintenance on the vehicle would be
free. These tactics are part of the dealer's strategy to reduce:
A. dissonance.
B. low involvement purchasing.
C. routinized response behavior.
D. social influences.
E. information search.
A. dissonance.
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U
Question No: 1 ( Marks: 1 ) - Please choose one
Which of the following is the first step in writing a marketing plan?
Situation analysis
Opportunity and threat analysis
Executive summary
Market analysis
2. Executive Summary
The Plan should open with a brief summary of the plans most important
Goals and Recommendations. The summary can be expressed like in a
brief statement, increase sales by 10% this year or reduce expenses by
5 % or say will enter UK market this year etc
A market leader firm can expand the total market through:
Decreasing distribution of the product
Introducing the new usage of the product
Eliminating some features of product
Increasing cost
Process engineering skills are required for the successful implementation of
which of the following strategy?
Market segmentation strategy
Market dominance strategy
Differentiation strategy
Cost leadership strategy
COST LEADERSHIP STRATEGY
Tthe strategy can easily be mimicked by competitors. Successful
implementation also benefits from:
process engineering skills
Any tangible thing that can be offered to a market for attention, acquisition, use,
or consumption that might satisfy a want or need is called:
Service
Product
Demand
Idea
Luxury products, such as Rolex watches, are also known as:
Shopping product
Convenience product
Emergency product
Specialty product
Marketers of specialty products like Waterford crystal, Rolls-Royce cars,
and Rolex watches
Aggressive pricing is associated with which of the following stage of product life
cycle?
Introduction
Growth
Maturity
Decline
The introduction stage of theproduct life cycle occurs when a product is
first introduced to ..... and more aggressive pricing, profit usually peaks
during the growth stage.
All of the following are the sources of idea for new product development
EXCEPT:
Government agencies
Competitors
Suppliers
Customers
Sources for new product ideas include
internal sources, customers, competitor's products, distributors & suppliers,
Which of the following is NOT a decision required in commercialization?
Why to launch the product?
How to launch the product?
Where to launch the product?
When to launch the product?
The decisions required are:
WHEN TO LAUNCH THE PRODUCT?
WHERE TO LANCH THE PRODUCT?
TO WHOM TO LAUNCH THE PRODUCT?
HOW TO LAUNCH THE PRODUCT?
Which of the following are the people who purchase new products almost as
soon as the products reach the market?
Innovators
Late majority
Early majority
Late adopters
Which of the following is the spread of idea from the source of invention to the
ultimate user or consumers?
Innovation adoption process
Innovation diffusion process
Adoption process
New product recognition
DIFFUSION PROCESS has been defined as
The spread of idea from the source of invention or creation to the ultimate
user or consumers
Which of the following is essential requirement for medicines and drugs?
Secondary packaging
Primary labeling
Decorative packaging
Mandatory labeling
With regard to food and drugs, mandatory labeling has been a major
battleground between consumer advocates and corporations since the late
19th century.
Which of the following is less likely to damage reputations of a brand if a new
product fails?
Brand extension branding
Individual branding
Overall family branding
Line family branding
Brand extension
The existing strong brand name can be used as a vehicle for new or
modified products;
MI DTERM EXAMI NATI ON
MKT501- Marketing Management
Fall 2009 2010 & 2011
All papers solved in one mega file
By Admin Binish Awais
www.vuaskari.com
Which of the following brands cost more than other products in the category?
Premium brand
Economy brand
Fighting brand
Corporate brand
A Premium Brand typically costs more than other products in the categor
Using one brand name for several related products is known as which of the
following?
Family branding
Group branding
Combination branding
Premium branding
When one brand name is used for several related products, this is referred
to as Family branding.
Gift baskets are the example of which one of the following types of packaging?
Decorative
Secondary
Shipping
Primary
Which of the following is the packaging objective, in which small products are
grouped together in one package for the reasons of efficiency?
Information transmission
Agglomeration
Physical protection
Theft reducing
Agglomeration - Small objects are typically grouped together in one
package for reasons of efficiency. For example, a single box of 1000
pencils requires less physical handling than 1000 single pencils.
Alternatively, bulk commodities (such as salt) can be divided into packages
that are a more suitable size for individual households.
Which of the following is a brand created and owned by a larg retailer of a
product after purchasing in large quantity from manufacturer?
Co-brand
Private brand
Manufacturer's brand
Licensed brand
When large Retailers buy products in bulk from manufacturers and put
their own brand name on them, this
is called Private Branding, store brand, or private label.
Which of the following is also known as functional branding?
Economy branding
Co-branding
Family branding
Individual branding
Tarang milk is an example of which of the following?
Corporate brand
Co-brand
Individual brand
Family brand
When a company's name is used as a product brand name, this is referred
to as Corporate brandin
Which of the following price is very close to the maximum that customers are
happily and readily willing to pay?
Premium
Cooperative
Effective
Efficient
An efficient price is a price that is very close to the maximum that
customers are prepared to pay.
Geographic pricing is also known as:
Skimming pricing
Zone pricing
Psychological pricing
Penetration pricing
A type of geographical pricing called "zone pricing"
Which of the following is a pricing technique used by retailers?
Costpush pricing
Cost-plus pricing
Demand- push pricing
Demand- pull pricing
The pricing technique used by most retailers is cost-plus pricin
Which of the following method is mostly used in the retailing?
Courier service
Online shops
Self-service
Counter-service
The second, and now more widely used method of retail, is self-service.
Market price is also known as:
Effective price
List price
Retail price
Wholesaler price
The market price (also called effective price) is the amount actually paid.
A company wants prompt payment from the customers. What type of discount
will be suitable for the company?
Seasonal discount
Trade discount
Quantity discount
Cash discount
1) Cash discounts for prompt payment - These are intended to speed
payment and thereby provide
liquidity to the firm. They are sometimes used as a promotional device.
A seller wants payment from buyer within 10 days of sales (whereas customer
can made payment within 30 days) and offers 4% discount if payment is made
within 10 days. What type of cash discount will be suitable?
4/10 net 30
10/4 net 30
10/30 net 4
4/30 net 10
Which of the following markets involve decisions such as: what country to enter
in, how to enter, how to adopt their product and services and how to price?
Consumer markets
Business markets
Global markets
Non profit markets
GLOBAL MARKETS
This is when we talk beyond frontiers; marketers are faced with tougher
decisions for global markets. Export of product is in itself a major
undertaking. Which country to enter? How to enter? How to Price? How to
communicate? are just a few important and underlying decisions. Legal
system, styles of negotiation; currency situation, political situation etc a
few others to be considered by the marketer.
Which one of the following 4Ps of marketing mix involves in decisions regarding
list prices, discounts, allowances and payment periods or credit terms?
Product
Price
Place
Promotion
The Cargo business covers which of the following decisions under the marketing
mix strategy?
Product
Price
Placement
Promotional
Customer cost will be considered as which of the following Ps of marketing mix?
Product
Price
Place
Promotion
Which of the following elements of marketing mix directly affects the value of
sales?
Price
Place
Promotion
Product
The basic human requirement defines which of the following?
Need
Demand
Want
Satisfaction
NEED
Needs can be described as human requirements. Need is there and its
natural. We need food to satisfy our hunger, water to quench out thirst. Of
course need can be more than just food, water and shelter. We need
recreation, education, entertainment and lots of other things to sustain our
livin
Willingness and ability to buy the product leads towards which of the following?
Demand
Need
Want
Market
DEMAND
Want becomes a demand when backed up by an individuals ability to pay
for it. A hungry person can want a burger, but does he have money to
demand a burger. Or is there a burger available to him?
The loyalty marketing focuses on establishing long term relationship between:
Company and retailer
Retailer and customer
Retailer and consumer
Company and customer
Relationship Marketing focuses on establish and
building long term relationship between the company and customer. We
also call it loyalty marketing.
Which of the following is NOT a technique used by marketers to understand the
customers?
Focus group
Commercialization
Web and telephones
Surveys
Which of the following is NOT an example of unsought goods?
Insurance policy
Course book
Encyclopedia
Funeral plots
A customer requirement about any product in which he/ she needs to avail core
features in that product, is called:
Real need
Stated need
Unstated need
Delighted need
Order processing decisions are related to which of the following?
Product
Price
Distribution
Promotion
Which of the following is NOT a distribution decision?
Inventory management
Personal selling
Warehousing
Distribution centers
If a bakery business bought a wheat farm in order to reduce the risk associated
with the dependency on flour. Identify the type of integration.
Backward vertical integration
Balanced vertical integration
Forward horizontal integration
Forward vertical integration
Question No: 41 ( Marks: 10 )
"Marketing concept starts with a well defined market, focuses on customer
needs, coordinates all activities and produces profit by satisfying the
customers". Elaborate the statement.
Results from the research that have already been conducted are displayed in which of the
following part of marketing plan?
Marketing strategies
Executive summary
Appendix
Financial summary
Ref: Appendix contains specifications of the new product, results from research
already completed.
Lesson # 8, Under the heading of Appendix
A market nicher can reduce their operating expense through less spending on:
Market segment and advertising
R & D and market segment
Advertising and promotion
R & D and advertising
Which of the following goods are purchased without any planning or search effort?
www.vuaskari.com
Emergency
Specialty
Impulse
Shopping
ref.
Emergency Goods: goods required immediately
Which of the following is NOT undertaken by all the companies in the process of new
product development?
Market testing
Commercialization
Idea screening
Idea generation
Which of the following is the degree to which new product matches the values and
experiences of the individuals in the community? www.vuaskari.com
Innovation communicability
Innovation divisibility
Innovation compatibility
Innovation complexity
Which of the following is the leak-proof packaging that provides additional protection for
the primary container?
www.vuaskari.com
Primary packaging
Secondary packaging
Transport packaging
Ref: Secondary packaging: Leak-proof packaging that provides additional
protection for the primary receptacle(s); it may include absorbent material
Packaging used for the ice creams is an example of which of the following?
Transport packaging
Secondary packaging
Primary packaging
The existing strong brand name can be as a vehicle to launch new product in the other
categories. What does this statement imply?
Family branding
Line extension
Individual branding
Brand extension
Which of the following is a name, term, sign, symbol, design, or a combination of these,
that identifies the product or service?
Label
Co-brand
Brand
Product
The concept of price is central to:
Administration
Management
Macroeconomics
Microeconomics
The concept of price is central to microeconomics where it is one of the most
important variables in resource allocation theory (also called price theory).
The basic human requirement defines which of the following?
Need
Demand
Want
Satisfaction
The phenomenon, when a customer dislikes a product and talks against the product, is
termed as: www.vuaskari.com
Propaganda
Unfavorable environment
Bad mouth
Bad impression
Bad mouth is when a customer talks not in favours of the product.
Distributors are part of which of the following environment?
Task environment
Broad environment
Natural environment
Political environment
reference..
Task environment involves immediate actors, such as suppliers, distributors, dealers and
consumers etc, involved in production, distribution and promotion.
In which section of the marketing plan you would find the detailed information about the
marketing environment, market trends, customers and competitors?
Situation analysis
Product/market background
Market analysis
Which one of the following strategies emphasizes on brand image?
Which of the following is NOT a type of innovation strategy? www.vuaskari.com
Pioneers
Challengers
Close followers
Late followers
Innovation Strategies- This deals with the firm rate of new product development and
business model innovation. It asks whether the company is on the cutting edge of
technology and business innovation. There are three types:
pioneers
close followers
late followers
ABC Company has been selling quality women garments at Rs.2000 to Rs.3000 which is
roughly one tenth of their usual selling price. This is an example of:
Skimming
Loss leader
Demand based pricing
Cost based pricing
Distribution of posters regarding the mobile phone usage during driving by the people
against their usage illustrates:
The government is not involved in marketing
That the drivers constitute market segment
How marketing concepts are applied by the non profit organization
Awareness to the general public
Which of the following is the unique combination of benefits received by targeted buyers
that includes quality, price, convenience, on time delivery, and both before sale and after
sale service.
The marketing concept
Customer value
The price-quality trade off
Customer relationship management
According to the societal marketing concept, who is most involved in deciding what
needs and wants are good for consumers in the long run?
www.vuaskari.com
The organization itself
The individual consumers
Competitive forces
Marketing researchers
Ref: The societal marketing concept holds that the organization itself should
discover and satisfy the needs of its consumers while also providing for society's
well being in a pro-active way. Marketing researchers may suggest concerns
about society, but they do not make the final decision about what to do.
Which of the following statements about environmental factors is true?
Environmental factors have no influence over an organization's opportunities.
Recent studies have shown that an action-oriented firm still cannot affect
environmental factors in any way.
Environmental factors are also called controllable factors.
Environmental factors include social, economic, technological, competitive, and
regulatory forces.
While writing the marketing plan, the analysis of environmental factors like supply chain,
Government and legal etc, comes under which of the following section of marketing
plan?
Macro environment
Market analysis
Consumer analysis
Internal environment analysis
ref.
Macro-environment: All situations regarding Economy, Government, Legal, Technology,
Ecological, Socio-cultural, Supply chain and some other macro factors must be carefully
studied. Relevant data from authentic sources regarding these factors must be collected
and analyzed.
Which of the following goods are purchased by customers after comparisons of
competing goods available in stores on the basis of price, quality, style and colors?
Specialty goods
Shopping goods
Impulse goods
Convenience goods
___________type of growth refers to concentrating activities on markets and/or products
that are familiar:
Diversification
Condensive
Integrative
Intensive
The convenience goods in the industrial market are:
Operating supplies
Components parts
Industrial computers
Accessory equipment
Many business executives argue that a more accurate explanation of actual pricing
behavior is that within a given profit constraints, firms strive for:
Profit maximization
Target return
Sales maximization
Market share
Fall 2009 2010 & 2011
www.vuaskari.com
Which of the following discourages the entry of competitors as well as act as a barrier to
entry?
Cost-orientated pricing
Penetration pricing
Market skimming pricing
The opportunity to deduct 2 percent from the bill if payment is made within 10 days is a:
Trade discounts
Quality discounts
Cash discount
Off price discounts
Which of the following must be developed at each product level for
achieving the goals?
Corporate plan
Selling plan
Marketing plan
Business plan
Marketing Planning Process
Each product level must develop a marketing plan for achieving its goals.
Which of the following part of a marketing plan defines the plans financial
and marketing goals in terms of sales volume, market share and profit?
Marketing strategy
Action programs
Issue analysis
Objectives
4. Objectives
Defines the plans financial and marketing goals in terms of sales volume, market share
and profit.
http://www.steadysales.com/the-contents-of-a-marketing-plan
Assumptions, pro-forma income statement, contribution margin analysis,
breakeven analysis, ratios analysis must be very formally done in:
Executive summary
Financial summary
Promotional plan
Business plan
7. Financial Summary
Assumptions, pro-forma monthly income statement, contribution margin
analysis, breakeven analysis. This information must be very formally done
at this stag
Which of the following has the largest market share in the relevant product
market?
Market leader
Market challenger
Market nicher
Market follower
Market Leader
The market leader is dominant in its industry. It has substantial market
share and often extensive distribution arrangements with retailers. It
typically is the industry leader in developing innovative new business
models and new products (although not always). It sometimes has some
market power in determining either price or output. Of the four dominance
strategies, it has the most flexibility in crafting strategy.
http://groups.google.com/group/vu-askari?hl=en
A market nicher can reduce their operating expense through less spending
on:
http://webcache.googleusercontent.com/search?
q=cache:mKnoUWHUW08J:www.public-domaincontent.
com/encyclopedia/List_of_marketing_topics/Market_d
* They tend to keep their operating expenses down by spending less on
R&D, advertising, and personal selling.
Increasing cost
Market leaders can expand the market by developing new users, new uses,
and more usage of its products
A brand name is one of the elements of the:
Discounted product
Core benefit
Augmented product
Actual product
http://www.xn--lba.net/articles/20262/Brand
The brand owner will seek to bridge the gap between the brand image
and the
brand identity Effective brand names build a connection between the
brand
personality as it is perceived by the target audience and the actual
product/service.
Which of the following is TRUE about a product?
Every tangible thing the customer receives in an exchange
The idea that the customer receives in an exchange
The service that is rendered to a customer
The physical object the customer receives in an exchange
Tyman-Space Online College
PRODUCT anything, tangible or intangible, received in an exchange to satisfy a
want or need. Products include
Identify the stage of product life cycle in which sales are at peak.
Introduction
Growth
Maturity
Decline
Product Life Cycle Stages | Life Cycle Management
The maturity stage of the product lifec ycle is characterized by sales growth
reaching peaklevels
Which of the followings are considered defensive in nature?
Maturity and growth stage
Maturity and decline stage
Introduction and maturity stage
Introduction and growth stage
The second two stages, mature and decline stage, are often seen as
defensive in nature.
Standard Cable cut back advertising expenditures to minimum level and
reduced the number of channel members for its industrial cable product.
These actions are indicative of a product in which of the following stage of
its life cycle?
Introduction
Growth
Maturity
Decline
) Decline Stage of the product life cycle characterized by declining sales
volumes and profits.
q=cache:xhjHBICXvekJ:mencyclopedia.narod.ru/p_text.html+Standard+Cable+cut+back
+advertising+expendi
Highest percentage of ideas for new products originates with/from which of
the following sources?
Top management
Customers
Competitors
Employees
Know thy market - RFID Training: RFID Education and
Market .. .
Several studies of industrial markets have shown that the highest
percentage of new product ideas originate with customers.
Which of the following are the people who purchase new products almost
as soon as the products reach the market?
Innovators
Late majority
Early majority
Late adopters
Which of the following is NOT one of the stages that customers go through
in the process of adopting a new product?
Desire
Awareness
Evaluation
Interest
Which product is MOST likely to be purchased through routine decision
making?
Television set
Soft drink
Shirt
Car
Which of the following has a quick response towards a new product?
Opinion leaders
Late majority
Early majority
Early adopters
Which of the following brands is created specifically to counter a
competitive threat?
Premium brand
Economy brand
Fighting brand
Corporate brand
Using one brand name for several related products is known as which of
the following?
Family branding
Group branding
Premium branding
Transport packaging
Secondary packaging
Primary packaging
According to Research supporting odd pricing theory which of the
following number out of all the numbers between 1 and 100 is thought to
have least perceived value as compared to its actual value?
90
77
55
25
To pay premium price for the product customers require:
Allowance
Flawless performance
Discounts
High promotion
Mr. A, marketer of XYZ Co. is selling his ice-cream in the market at Rs.20,
20% more than his competitors price. Still his sales are increasing. Now
his aim is to maintain same pricing. He enjoys which type of leadership?
Promotion leadership
Price leadership
Cost leadership
Product leadership
Which of the following price is quoted to a potential buyer, usually in
written form?
Wholesale price
Market price
List price
Retail price
A seller wants payment from buyer within 10 days of sales (whereas
customer can made payment within 30 days) and offers 4% discount if
payment is made within 10 days. What type of cash discount will be
suitable?
4/10 net 30
10/4 net 30
10/30 net 4
4/30 net 10
Market-penetration pricing will likely to be used most in selling which of the
following items?
Specialty
Convenience
Unsought
Pharmaceuticals
Many companies try to set a price that will maximize current profit. This
strategy assumes that company has knowledge of its:
Cost and production function
Revenue and cost function
Demand and market function
Demand and cost function
Identify the other name for global market.
Consumer market
Import market
Export market
Government market
Which one of the following 4Ps of marketing mix involves in decisions
regarding list prices, discounts, allowances and payment periods or credit
terms?
Product
Price
Place
Promotion
Customer cost will be considered as which of the following Ps of marketing
mix?
Product
Price
Place
Promotion
Which of the following is about managing strategically the customers
entire experience with the product and company?
Customer experience management
Customer retention management
Customer life-time value management
Customers viewpoint on a firms products and services can be improved
through:
Experiential world of customers
Experiential innovation
Customer interface
Building experiential platform
Which of the following firms emphasizes on products benefits to the
customers rather product attributes?
Product oriented
Market oriented
Sales oriented
Production oriented
Which of the following is NOT a technique of measuring customer
satisfaction and monitoring customers complaint?
Customer complaints database
Web and telephone information hotlines
Exit interviews
Business analysis
The phenomenon, when a customer dislikes a product and talks against
the product, is termed as:
Propaganda
Bad mouth
Bad impression
Products that are usually purchased due to adversity and high promotional
back up rather than desire are called:
Sought goods
Unique goods
Unsought goods
Preferred goods
A customer requirement about any product in which he/ she needs to avail
core features in that product, is called:
Real need
Stated need
Unstated need
Delighted need
Which of the following products requires mass promotion by a producer?
Convenience
Shopping
Specialty
Unsought
Which of the following is NOT an aggressiveness strategy?
Harvesting
Building
Intensification
Holding
Which of the following is NOT a type of innovation strategy?
Pioneers
Challengers
Close followers
Late followers
Suppose Nestle wants to expand its line of food products. The managers
conduct surveys from customers to determine which food items would
appeal to customers. Nestle is currently in which of the following phase of
new product development?
Idea generation
Idea screening
Test marketing
Business analysis
Question No: 1 (Marks: 1) - Please choose one
Critical path analysis is a part of which of the following?
Implementation stage
Executive summary
Financial summary
Commercialization
o launch the product
o produce and place advertisements and other promotions
o fill the distribution pipeline with product
o critical path analysis is useful at this stage
The strategy which involves creating a product that is perceived as unique and
should provide superior value for the customer is called:
DIFFERENTIATION STRATEGY
Differentiation involves creating a product that is perceived as unique. The
unique features or benefits should provide superior value for the customer
if this strategy is to be successful
Discounted product
Core benefit
Augmented product
Actual product
Luxury products, such as Rolex watches, are also known as:
Shopping product
Convenience product
Emergency product
Specialty product
Which of the following goods are purchased without any planning or search
effort?
Emergency
Specialty
Impulse
Shopping
Emergency Goods: goods required immediately
Which of the following is frequently used in testing the acceptance of new
product design?
Concept development
Business analysis
Concurrent engineering
Conjoint analysis
. It is used frequently in testing customer acceptance of new product
designs and assessing the appeal of advertisements. It has been used in
product positioning, but there are some problems with this application of
the technique.
Identify the commercialization decision which includes decisions regarding
locality, region, nationally or even internationally launching the product.
Why to launch the product?
How to launch the product?
Where to launch the product?
When to launch the product?
Which product is MOST likely to be purchased through routine decision making?
Television set
Soft drink
Shirt
Car
Which of the following is the leak-proof packaging that provides additional
protection for the primary container?
Primary packaging
Secondary packaging
Transport packaging
Decorative
Which of the following is less likely to damage reputations of a brand if a new
product fails?
Brand extension branding
Individual branding
Overall family branding
Line family branding
Brand extension
The existing strong brand name can be used as a vehicle for new or
modified products;
Which of the following brands is created specifically to counter a competitive
threat?
Premium brand
Economy brand
Fighting brand
Corporate brand
A fighting brand is a brand created specifically to counter a competitive
threat.
Decorative
Secondary
Shipping
Primary
Which of the following is the packaging objective, in which small products are
grouped together in one package for the reasons of efficiency?
Agglomeration
Physical protection
Theft reducing
Agglomeration - Small objects are typically grouped together in one
package for reasons of efficiency. For example, a single box of 1000
pencils requires less physical handling than 1000 single pencils.
Alternatively, bulk commodities (such as salt) can be divided into packages
that are a more suitable size for individual households.
The label on a pack of frozen peas says, 'packed within an hour of picking'.
These words are used:
To promote the product
To satisfy legal requirements
To provide information
To fulfill ethical requirement
Transport packaging
Secondary packaging
Primary packaging
Which of the following is a name, term, sign, symbol, design, or a combination of
these, that identifies the product or service?
Label
Co-brand
Brand
Product
Which of the following is a group of products that are closely related because
they function in a similar manner?
Convenience product
Private brand
Line extension
Product line
When a company uses the Brand equity associated with an existing brand
name to introduce a new product or product line, this is referred to as
Brand leveraging.
Which of the following is also known as dual branding?
Private brand
Multibrand
Co-brand
New brand
When two or more brands work together to market their products, this is
referred to as Co-branding
The concept of price is central to:
Administration
Management
Macroeconomics
Microeconomics
The concept of price is central to microeconomics where it is one of the
most important variables in resource allocation theory (also called price
theory)
Which of the following marketing mix element generates revenue?
Promotion
Price
Place
Product
ABC Company priced the product as of Rs. 19.99 instead of Rs.20. Which of the
following pricing techniques is ABC Company using?
Dodging pricing
Deceptive pricing
Premium pricing
Allowance
Discounts
High promotionm,
Which of the following is NOT an objective of discounts?
Reward valuable customers
Reward competitors
Move out-of-date stock
Increase short-term sales
3/10 net 30 is an example of which of the following?
Seasonal discount
Trade discount
Quantity discount
Cash discount
1) Cash discounts for prompt payment - These are intended to speed
payment and thereby provide liquidity to the firm. They are sometimes
used as a promotional device.
Market price is also known as:
Effective price
List price
Retail price
Wholesaler price
The Effective Price is the price the company receives after accounting for
discounts, promotions, and other incentives.
Which of the following best describes 3/10 net 40 ROG?
the buyer must pay within 10 days of receipt of goods but will receive 3%
discount if paid in 10 days
The buyer must pay within 3 days of receipt of goods but will receive 10%
Which of the following is also known as accumulation discounts?
Trade discount
Non-cumulative quantity discount
Cumulative quantity discount
Quantity discount
Cumulative quantity discounts (also called accumulation discounts).
These are price reductions based on the quantity purchased over a set
period of time. The expectation is that they will impose an implied
switching cost and thereby bond the purchaser to the seller.
A company is providing warehousing facility to its channel members. The
company is using which of the following?
Seasonal discount
Trade discount
Quantity discount
Cash discount
4) Seasonal discounts - These are price reductions given when an order is
placed in a slack period (example: purchasing skis in April in the northern
hemisphere or in September in the southern hemisphere). On a shorter
time scale, a happy hour may fall in this category.
To attract customers into stores, the store advertises its milk at a price less than
cost, hoping that customers will purchase other groceries as well. Milk is acting
as which of the following?
Premium item
On- sale item
Discounted item
Loss leader
Many companies try to set a price that will maximize current profit. This strategy
assumes that company has knowledge of its:
Which one of the following 4Ps of marketing mix involves in decisions regarding
list prices, discounts, allowances and payment periods or credit terms?
Product
Price
Place
Promotion
When need is directed towards a specific object it is called:
Actual need
Want
Demand
Satisfaction
WANT
Need becomes Want, when they are directed towards a specific object.
When hungry we need food; but we want say a burger. Want can vary from
place to place and from people to people. A man in USA can want a burger
to eat when hungry whereas a man in Pakistan needs a Nan. Want can be
different at different income levels and in various time
In which one of the following orientations companies often design the products
with little or no input from customers?
Market-oriented
Product-oriented
Sales-oriented
Production-oriented
A customer requirement about any product in which he/ she needs to avail core
features in that product, is called:
Real need
Stated need
Unstated need
Delighted need
Factors of broad environment affect:
Economic environment
Task environment
Cultural environment
Technological environment
Marketing starts with which of the following 4Ps?
Product
Price
Place
Promotion
A business wants to create the awareness about the features and befits of the
product in the market. Which of the following decisions are important to achieve
the goal?
Price decisions
Place decisions
Promotion decisions
Product decisions
Promotion Decisions
In the context of the marketing mix, promotion represents the various
aspects of marketing communication, that is, the communication of
information about the product with the goal of generating a positive
customer response. Marketing communication decisions include:
Promotional strategy (push, pull, etc.)
Advertising
Personal selling & sales force
Sales promotions
Public relations & publicity
Marketing communications budget
If a bakery business bought a wheat farm in order to reduce the risk associated
with the dependency on flour. Identify the type of integration.
Balanced vertical integration
Forward horizontal integration
In backward vertical integration, the company sets up subsidiaries that
produce some of the inputs used in the production of its products. For
example, an automobile company may own a tire company, a glass
company, and a metal company. Control of these three subsidiaries is
intended to create a stable supply of inputs and ensure a consistent quality
in their final product
Convenience
Shopping
Specialty
Unsought
Which of the following is NOT included in the financial summary of a marketing
plan?
Pro-forma income statement
Month-by-month agenda
Breakeven analysis
Assumptions
Assumptions, pro-forma monthly income statement, contribution margin
analysis, breakeven analysis. This information must be very formally done
at this stage
Question No: 41 (Marks: 10)
What is conjoint analysis? Why it is often used by marketers while
introducing new product?
Answer:
Conjoint Analysis and Reason of Why Marketers Use This While Introducing New
Product:
It is a statistical technique hat is originated in mathematical psychology. It is used
in many of the social sciences and applied sciences like marketing, operations
research and product management.
The main objective of conjoint analysis in marketing is to determine what
combination of a limited number of attributes is mostly preferred by the public.
It is often used in testing customer acceptance of a new product designs and
assessing the appeal of advertisements used in product positioning. There are
few steps for conducting conjoint analysis.
The basic steps are:
1. Select feature to be tested.
2. Show these features combination to the potential customers.
3. Input data from a representative sample of potential customers into the
statistical software and select the conjoint analysis procedure; the software
will produce the utility functions for each feature.
4. Incorporate the most preferred features into a new product and
advertisement.
It is very useful market analysis as we can determine the customer needs and
their interest their liking and disliking and will lead to success of the product to be
launched. That is why it is mostly used by the marketers while introducing a new
product.
Which of the following must be developed at each product level for
achieving the goals?
Corporate plan
Selling plan
Marketing plan
Business plan
Marketing Planning Process
Each product level must develop a marketing plan for achieving its goals.
Which of the following part of a marketing plan defines the plans financial
and marketing goals in terms of sales volume, market share and profit?
Marketing strategy
Action programs
Issue analysis
Objectives
Defines the plans financial and marketing goals in terms of sales volume, market share
and profit.
http://www.steadysales.com/the-contents-of-a-marketing-plan
Assumptions, pro-forma income statement, contribution margin analysis,
breakeven analysis, ratios analysis must be very formally done in:
Executive summary
Financial summary
Promotional plan
Business plan
Assumptions, pro-forma monthly income statement, contribution margin analysis,
breakeven analysis. This information must be very formally done at this stag
Which of the following has the largest market share in the relevant product
market?
Market leader
Market challenger
Market nicher
Market follower
Market Leader
The market leader is dominant in its industry. It has substantial market
share and often extensive distribution arrangements with retailers. It
typically is the industry leader in developing innovative new business
models and new products (although not always). It sometimes has some
market power in determining either price or output. Of the four dominance
strategies, it has the most flexibility in crafting strategy.
A market nicher can reduce their operating expense through less spending
on:
http://webcache.googleusercontent.com/search?q=cache:mKnoUWHUW08J:www.public-domaincontent.
com/encyclopedia/List_of_marketing_topics/Market_d
* They tend to keep their operating expenses down by spending less on
R&D, advertising, and personal selling.
Increasing cost
Market leaders can expand the market by developing new users, new uses, and
more usage of its products
Discounted product
Core benefit
Augmented product
Actual product
http://www.xn--lba.net/articles/20262/Brand
The brand owner will seek to bridge the gap between the brand image
and the brand identity Effective brand names build a connection
between the brand personality as it is perceived by the target audience
and the actual product/service.
Which of the following is TRUE about a product?
Every tangible thing the customer receives in an exchange
The idea that the customer receives in an exchange
The service that is rendered to a customer
The physical object the customer receives in an exchange
PRODUCT anything, tangible or intangible, received in an exchange to
satisfy a want or need
Identify the stage of product life cycle in which sales are at peak.
Introduction
Growth
Maturity
Decline
Product Life Cycle Stages | Life Cycle Management
The maturity stage of the product lifec ycle is characterized by sales growth
reaching peaklevels
Which of the followings are considered defensive in nature?
Maturity and growth stage
Maturity and decline stage
Introduction and maturity stage
Introduction and growth stage
Standard Cable cut back advertising expenditures to minimum level and
reduced the number of channel members for its industrial cable product.
These actions are indicative of a product in which of the following stage of
its life cycle?
Introduction
Growth
Maturity
Decline
Highest percentage of ideas for new products originates with/from which of
the following sources?
Top management
Customers
Competitors
Employees
Know thy market - RFID Training: RFID Education and
Market .. .
Several studies of industrial markets have shown that the highest percentage of new product
ideas originate with customers.
Which of the following are the people who purchase new products almost
as soon as the products reach the market?
Innovators
Late majority
Early majority
Late adopters
One who are early adopters. They are very quick in their response. These
people are venture some and willing to try new ideas. In fact they are
innovators in life and early adopters.
Which of the following is NOT one of the stages that customers go through
in the process of adopting a new product?
Desire
Awareness
Evaluation
Interest
FIVE SUCH STAGES HAVE BEEN OBSERVED
AWARENESS: this stage is when a consumer hears about an innovation,
but lacks information about it
INTEREST: the consumer is stimulated to seek information about the
innovation
EVALUATION: this is when the consumer decides whether to use the
product or not
TRIAL: the consumer tries the product to estimate the value of innovation
ADOPTION: this is when the consumer adopts to use the product on
regular basis and use
the innovation
Which product is MOST likely to be purchased through routine decision
making?
Television set
Soft drink
Shirt
Car
Which of the following has a quick response towards a new product?
Opinion leaders
Late majority
Early majority
Early adopters
One who are early adopters. They are very quick in their response.
Which of the following brands is created specifically to counter a
competitive threat?
Premium brand
Economy brand
Fighting brand
Corporate brand
A fighting brand is a brand created specifically to counter a competitive
threat.
Using one brand name for several related products is known as which of
the following?
Family branding
Group branding
Premium branding
When one brand name is used for several related products, this is referred
to as Family branding.
Transport packaging
Secondary packaging
Primary packaging
primary packaging is used to color beverages, dessert powders, candy, ice
cream
According to Research supporting odd pricing theory which of the
following number out of all the numbers between 1 and 100 is thought to
have least perceived value as compared to its actual value?
90
77
55
25
In a study, the perceived value of all the numbers between 1 and 100 were
studied, and 77 was shown to
have the lowest perceived value relative to its actual value.
Allowance
Discounts
High pro
3. They require flawless performance in this application - The cost of
product malfunction is too high
to buy anything but the best - example: heart pacemaker motion
Mr. A, marketer of XYZ Co. is selling his ice-cream in the market at Rs.20,
20% more than his competitors price. Still his sales are increasing. Now
his aim is to maintain same pricing. He enjoys which type of leadership?
Promotion leadership
Price leadership
Cost leadership
Product leadership
Which of the following price is quoted to a potential buyer, usually in
written form?
Wholesale price
Market price
List price
Retail price
They could modify either the manufacturer's list price (determined by the
manufacturer and often printed
on the package), the retail price (set by the retailer and often attached to
the product with a sticker), or the
list price (which is quoted to a potential buyer, usually in written form).
A seller wants payment from buyer within 10 days of sales (whereas
customer can made payment within 30 days) and offers 4% discount if
payment is made within 10 days. What type of cash discount will be
suitable?
4/10 net 30(page#43)
10/4 net 30
10/30 net 4
4/30 net 10
Market-penetration pricing will likely to be used most in selling which of the
following items?
Specialty
Convenience
Unsought
Pharmaceuticals
Many companies try to set a price that will maximize current profit. This
strategy assumes that company has knowledge of its:
Identify the other name for global market.
Consumer market
Import market
Export market
Government market
Which one of the following 4Ps of marketing mix involves in decisions
regarding list prices, discounts, allowances and payment periods or credit
terms?
Product
Price
Place
Promotion
Customer cost will be considered as which of the following Ps of marketing
mix?
Product
Price
Place
Promotion
Which of the following is about managing strategically the customers
entire experience with the product and company?
Customer experience management
Customer retention management
Customer life-time value management
CUSTOMER EXPERIENCE MANAGEMENT
5 Nov 2009 ... Is related to managing strategically customers entire
experience with the product and the company.
Customers viewpoint on a firms products and services can be improved
through:
Experiential world of customers
Experiential innovation
Customer interface
Building experiential platform
STEP NO 5
Continue experiential innovation
Anything that can improve customers own viewpoint on your products
and services
Which of the following firms emphasizes on products benefits to the
customers rather product attributes?
Product oriented
Market oriented
Sales oriented
Production oriented
MARKETING ORIENTATION FIRM CHARACTERISTICS
Broad product lines
Emphasis on a products benefits to customers rather than
on productattributes
q=cache:QPK3NRVx6lAJ:churmura.com/business/marketorientation/
22142/+Market+oriented+firms+emphasi
Which of the following is NOT a technique of measuring customer
satisfaction and monitoring customers complaint?
Exit interviews
Business analysis
The phenomenon, when a customer dislikes a product and talks against
the product, is termed as:
Propaganda
Bad mouth
Bad impression
The customer still may not fully like the product and have
what we calls bad-mouth. Bad mouth is when a customer talks not in
favours of the product. Bad mouth
travels fas
Products that are usually purchased due to adversity and high promotional
back up rather than desire are called:
Sought goods
Unique goods
Unsought goods
Preferred goods
This concept emphasizes on aggressive selling and high promotional back
up. Selling, concept is
practical on what we call as unsought goods such as insurance,
encyclopedia et
A customer requirement about any product in which he/ she needs to avail
core features in that product, is called:
Real need
Stated need
Unstated need
Delighted need
Convenience
Shopping
Specialty
Unsought
Which of the following is NOT an aggressiveness strategy?
Harvesting
Building
Intensification
Holding
Marketing Strategies
Aggressiveness strategies - This asks whether a firm should grow or not, and if
so, ... One scheme divides strategies into: building; holding; harvesting
Which of the following is NOT a type of innovation strategy?
Pioneers
Challengers
Close followers
Late followers
Market Strategies | Economy Watch
Innovation strategies also also let the company know if it is on the verge of fore
fronting technology ... These can be of three types-pioneers,close
followers and late followers
Suppose Nestle wants to expand its line of food products. The managers
conduct surveys from customers to determine which food items would
appeal to customers. Nestle is currently in which of the following phase of
new product development?
Idea generation
Idea screening
Test marketing
Business analysis
http://webcache.googleusercontent.com/search?q=cache:-
XtQ9vRd_EsJ:www.ehow.com/info_8196815_list-new-product-developmentprocess.
html+test+
The skimming, penetration, bargaining and discounts are included in which of the
following marketing mix strategy?
Product decisions
Price decisions
Place decisions
Promotion decisions
Price Decisions
Some examples of pricing decisions to be made include:
Pricing strategy (skim, penetration, etc.)
Suggested retail price
Volume discounts and wholesale pricing
Cash and early payment discounts
Seasonal pricing
Bundling
Price flexibility
Price discriminatio
The building, holding, and harvesting are the types of:
Innovation strategy
Aggressiveness strategy
Diversification strategy
Aggressiveness Strategies - This asks whether a firm should grow or not, and if so,
how fast.
One scheme divides strategies into:
o building
o holding
o harvesting
Which of the following attacks the vulnerable part of a competitor?
Market leader
Market challenger
Market nicher
Market follower
Market Challenger
A market challenger is a firm in a strong, but not dominant position that is
following an aggressive strategy of trying to gain market share. It typically targets
the industry leader (for example, Pepsi targets Coke), but it could also target
smaller, more vulnerable competitors.
The strategy which involves creating a product that is perceived as unique and should
provide superior value for the customer is called:
DIFFERENTIATION STRATEGY
Differentiation involves creating a product that is perceived as unique. The unique
features or benefits should provide superior value for the customer if this strategy is
to be successful
Presenting the product concept to appropriate target consumers and getting their
reactions, describes which of the following options?
Concept development
Concept testing
Commercialization
Concept trial
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Which of the following is the packaging objective, in which small products are grouped
together in one package for the reasons of efficiency?
Agglomeration
Physical protection
Theft reducing
Which of the following marketing mix element generates revenue?
Promotion
Price
Place
Product
Which of the following is considered as dead end of distribution?
Promotion
Warehousing
Wholesaling
Retailing
While considering the place for a product which of the following is important for
customer?
Communication
Convenience
Customer cost
Customer solution
The loyalty marketing focuses on establishing long term relationship between:
Company and retailer
Retailer and customer
Retailer and consumer
Company and customer
Relationship Marketing focuses on establish and building long term relationship
between the company and customer. We also call it loyalty marketing
Which of the following is NOT an ancillary service?
Warranty
Installation
Delivery
Labeling
The offering of ancillary services like credit availability, delivery, installation, and
warranty
Fall 2009 2010 & 2011
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Which of the following best describes the definition of marketing mix?
The way product is priced
The way product are arranged in the stores
The way business elements are combined to meet the needs of customers
The way business distribute the products in the market
Which of the following strategies requires premium pricing?
Target market strategy
Price is the only element in the marketing mix that produces __________.
Revenue
Variable costs
Expenses
Stability
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Which of the following is involved in decisions such as: what country to enter in, how to
enter, how to adopt their product and services and how to price?
Consumer markets
Business markets
Global markets
Non profit markets
If an NGO purchases furniture for its office, it is purchasing a(an):
Consumer good
Consumer service
Industrial good
Industrial service
The want satisfying power of a product or service is known as a/an:
Desire
Need
Utility
Motive
Factors of broad environment directly affect the:
Economic environment
Task environment
Cultural environment
Technological environment
While writing the marketing plan, the analysis of companys own resources comes under
which of the following section of marketing plan?
Macro environment
Market analysis
Consumer analysis
Internal environment analysis
b) Current Situation - Market Analysis
Indeed, market situation must be taken into account in all details and carefully
studied. Market definition, Market size, Market Segmentation, Industry Structure
and strategic groupings, Competition and market share, Competitors' Strengths
and Weaknesses and Market Trends must be carefully studied and analyzed.
This will give us t
The firm objective in the introductory stage of the product life cycle is to:
Extend the cycle as long as possible
Improve warranty terms and service availability
Emphasize market segmentation
Stimulate demand for the product
The majority of firms enter in a particular market during the:
Introduction
Growth
Maturity
Decline
Which of the following come(s) under the category of new product?
New product lines
Product improvements
Cost reductions
All of the given options
Suppose Nestle wants to expand its food products line. The managers conducted surveys
from customers to determine which food items would appeal to customers. Nestle is
currently in which of the following phase of new product development?
www.vuaskari.com
Idea generation
Idea screening
Test marketing
Business analysis
Idea Screening
o eliminate unsound concepts
o must ask three questions:
. will the target market benefit from the product
. is it technically feasible to manufacture the product
. will the product be profitable
The stage in the adoption process that has been reached when an individual becomes
sufficiently involved with a new product to begin to seek information about it is called:
Awareness
Evaluation
Interest
Trial
TRIAL: the consumer tries the product to estimate the value of innovatio
Based on pricing objectives, a general guideline that is intended for use in specific
pricing decision is called:
A product line
A pricing policy
A strategic pricing
An objective pricing
The consumers perception of prices such as Rs. 5.95 and Rs. 6.99 is that these prices
are:
Regular retail prices
Wholesale prices
Competitive prices
Discount prices
Which of the following is the traditional pricing objective?
Increase market share
Maximize profits
Meet competitors prices
Increase market growth
A supermarket advertises sugar and coffee at very low prices with the objective of
attracting customers who will buy other high profit items. This is called:
www.vuaskari.com
Product line pricing
Multiple unit pricings
Odd pricing
Loss leader
The marketing plan is one of the most important outputs of:
Business plan
Marketing process
Production process
Selling plan
A marketing plan may be part of an overall Business Plan.
www.vuaskari.com
Increasing cost
Which of the following are the products bought by individuals and organizations for
further processing or for use in conducting a business?
Specialty
Industrial
Shopping
Consumer
Industrial Products: used in the production of other good
The high cost, low sales volume and losses are likely to occur at the:
Decline stage
Introduction stage
Maturity stage
Growth stage
2. Market introduction stage
Cost high
Sales volume low
Losses
Aggressive pricing is associated with which of the following stage of product life cycle?
Introduction
Growth
Maturity
Decline
3. Growth stage
Costs reduced due to economies of scale
Sales volume increases significantly
Profitability
Prices to maximize market shar
Which of the following is the leak-proof packaging that provides additional protection for
the primary container? www.vuaskari.com
Primary packaging
Secondary packaging
Transport packaging
Transport packaging
Secondary packaging
Primary packaging
Which of the following marketing mix element generates revenue? www.vuaskari.com
Promotion
Price
Place
Product
The buyer at ABC Furniture Store is informed that if he/she will increase his/her recent
order of fifteen mattress sets to twenty, she will receive a 14 percent price reduction. This
offer is due to a recent overstock condition at the factory and will not be available in the
future. What is the type of discount offered by ABC Furniture store?
Trade
Seasonal
Non-cumulative
Promotional
3) Trade discounts (also called functional discounts)
These are payments to distribution channel members for performing some
function . Examples of these functions are warehousing and shelf stocking. Trade
discounts are often combined to include a series of functions, for example 20/12/5
could indicate a 20% discount for warehousing the product, an additional
12% discount for shipping the product, and an additional 5% discount for keeping
the shelves stocked. Trade discounts are most frequent in industries where retailers
hold the majority of the power in the distribution channel (referred to as channel
captains).
BATA offered 10% discount on the sale of shoes at the end of winter season. What can
be the purpose of giving such discount?
Reward the customers
Move- out- of- date stock
Encourage the salespeople
To increase short term sales
Which of the following is also known as accumulation discounts?
Trade discount
Non-cumulative quantity discount
Cumulative quantity discount
Quantity discount
Cumulative quantity discounts (also called accumulation discounts). These are
price reductions based on the quantity purchased over a set period of time. The
expectation is that they will impose an implied switching cost and thereby bond the
purchaser to the seller.
Many companies try to set a price that will maximize current profit. This strategy
assumes that company has knowledge of its: www.vuaskari.com
Companies that are involved in selling mass consumer goods and services are found in
which of the following markets?
Business markets
Consumer markets
Global markets
Government markets
CONSUMER MARKETS
Selling of mass consumer goods and services such as soft drinks, tooth pastes, TV
sets etc. Great time is spent in establishing superior brand image to be successful in
consumer product marketing. It requires clear understanding of target consumers,
the product, which meets their needs, communicating brand positioning more
forcefully and creatively etc. All this will help them establish number one or two
position
Which of the following 4Ps of marketing mix involves in decisions regarding channels
coverage, assortments, locations, inventories or transports?
Product
Price
Place
Promotion
customer? www.vuaskari.com
Communication
Convenience
Customer cost
Customer solution
Which of the following is NOT a technique of measuring customer satisfaction and
monitoring customers complaint?
Exit interviews
Business analysis
Business Analysis
o estimate likely selling price
o estimate sales volume
o estimate profitability and breakeven poin
A customer requirement about any product in which he/ she needs to avail core features
in that product, is called:
Real need
Stated need
Unstated need
Delighted need
b. Real need (wants a car which is lower in maintenance)
Marketing starts with which of the following 4Ps?
Product
Price
Place
Promotion
In which section of the marketing plan you would find the detailed information about the
marketing environment, market trends, customers and competitors?
Situation analysis
Product/market background
Market analysis
4. Summary of Situation Analysis
External threats, external opportunities, internal strengths, internal weaknesses, key
success factors in the industry, our sustainable competitive advantage, marketing
research etc must be carefully understood and analyzed. Information requirements,
research methodology and research results must be carefully ascertained at this
stage and carried out
Which of the following is NOT an option available for market leaders?
Reduce the product quality
Improve customer service
Protect the existing market share
Expand the total market
Especially for which type of products the marketers should view packaging as a major
strategic tool? www.vuaskari.com
Convenience products
Consumer shopping products
Industrial products
Specialty products
When a firm or store offers a price reduction to customers who buy during off-peak
periods throughout the year, we say the firm is giving a(n) _____ discount.
Functional
Seasonal
Annual
Allowance
The want satisfying power of a product or service is known as a/an:
Desire
Need
Utility
Motive
In a television advertisement a group of teenagers is searching for some cold drinks to
quench their thrust. In their searching they find a shop and they purchase the soft drinks.
The selection of cold drink appeals to consumers _________ for liquid and attempts to
shape consumers _________ for the advertised product.
Needs, preferences
Wants, needs
Needs, wants
Want, preference
www.vuaskari.com
Which of the following is the part of implementation section of marketing plan?
Critical path analysis
Physical distribution
Competitor indexing
Brand equity
These objectives are often the most suitable when firms operate in a market dominated by
a major competitor and where their financial resources are limited.
Niche
Hold
Harvest
Diversification
Help prepare for the sale of the business (harvesting)
Suppose Nestle wants to expand its food products line. The managers conducted surveys
from customers to determine which food items would appeal to customers. Nestle is
currently in which of the following phase of new product development?
Idea generation
Idea screening
Test marketing
Business analysis
As a marketer you want to use lower than normal prices as an ingredient in your firms
marketing strategy. The technique you would use is:
Price lining
Zone pricing
Relative pricing
Promotional pricing
Why price war is not beneficial for small companies?
Answer:
Price was is state of intense competition over the price of product
One competitor reduce the price other will lower its price to match and then a cycle of
price reduction starts. Which can leads of selling of product below the cost.
Normally smaller companies cannot compete and shut down.
Explain how Marketers can prolong the lives of many products in the maturity or
decline stages of the PLC? Also how can they move those products back to their
growth stage?
Answer:
In the decline stage of the marketing product development cycle, owners reduce or stop
marketing efforts and expenses. The plan is to lower the marketing efforts while your
competitors discontinue theirs.
If you keep selling the product while your competitor stop selling, then you can get the
market share which your competitor left. www.vuaskari.com
Describe quantity discounts and its types.
It is discount normally give on buying at large scale. Idea behind that is if we sell more
we can achieve the economy of scale and that benefit we can share with our customers.
Answer:
There are two type of two Types of Quantity Discounts
Cumulative:
This discount is based on the items purchased over the period of time. Like with in month
we have to purchase this much quantity for the entailment of discount.
No cumulative
It is based on the single bulk order buying. Idea behind that discount is that we can save
the shipping, billing , sales personal expenses.
The first step in the product development process is generation of ideas. Discuss what are
the internal and external sources of ideas? Why external sources are considered to be the
more important than internal source?
Answer:
Every new product development starts with idea generation. Idea generation is process to
produce large number of idea are produce. It should be ongoing process.
During idea one should not criticize the ideas of others.
Following are few ways for idea generation
Brainstorming session: In this whole team participate and everyone can give any idea
there will b no criticism on any idea.
Idea can be obtained by basic research and SWOT analysis
Idea can be obtained from customers.
Retailers
Focus groups.
Trade shows
Which of the following has the largest market share in the relevant product market?
Market leader
Market challenger
Market nicher
Market follower
www.vuaskari.com
Market Leader
The market leader is dominant in its industry. It has substantial market share and
often extensive distribution arrangements with retailers. It typically is the industry
leader in developing innovative new business models and new products (although
not always). It sometimes has some market power in determining either price or
output.
Which of the following attacks the vulnerable part of a competitor?
Market leader
Market challenger
Market nicher
Market follower
Market Challenger
A market challenger is a firm in a strong, but not dominant position that is
following an aggressive strategy of trying to gain market share. It typically targets
the industry leader (for example, Pepsi targets Coke), but it could also target
smaller, more vulnerable competitors.
Presenting the product concept to appropriate target consumers and getting their
reactions, describes which of the following options?
Concept development
Concept testing
Commercialization
Concept trial
Concept Development and Testing
o develop the marketing and engineering details
. who is the target market
. what benefits will the product provide
. how will consumers react to the product
. how will the product be produced
. what will it cost to produce it
o test the concept by asking a sample of prospective customers what they think of
the idea
Which of the following is the spread of idea from the source of invention to the ultimate
user or consumers?
Innovation adoption process
Innovation diffusion process
Adoption process
New product recognition
STAGES OF CONSUMER ADOPTION PROCESS
Let us first take a look at the INNOVATION DIFFUSION theory. An innovation
refers to anything perceived by some one as new. It may have a long history of
innovating product. But in true sense its an Innovation to the person, who sees it
and it is he who spreads it through a social system. INNOVATION DIFFUSION
PROCESS has been defined as The spread of idea from the source of invention or
creation to the ultimate user or consumers. Consumer Adoption Process focuses on
the mental process through which an individual goes through from first hearing
about the innovation to the final stage of adoption
Decorative
Secondary
Shipping
Primary
www.vuaskari.com
Which of the following is NOT a use of secondary packaging?
It is recyclable and environmentally safe
It facilitates transportation, storage, and handling for middlemen
It can not be reused for purposes other than its initial use
It can be used as a promotional tool
Which of following is an example of corporate brand?
Rafhan foods
Knorr
National foods
Mercedes
When a company's name is used as a product brand name, this is referred to as
Corporate branding
Which of the following is also called as prestige price? www.vuaskari.com
Skimming price
Penetration price
Psychological price
Premium price
Which of the following price will be used for the heart pacemaker?
Skimming price
Penetration price
Psychological price
Premium price
A book shop has arranged a book fair and offered 20% discount on all types of books.
What will be the purpose of offering the discount?
Reward the customers
Move- out- of- date stock
Encourage the salespeople
To increase short term sales
Which of the following is the effect of low price? www.vuaskari.com
Reduction in market share
Reduction in production
Increase in profit margin
Reduction in profit margin
Which of the following markets involve buying and selling of goods for their utility and
enabling them to make or re-sell a product to others?
Global markets
Government markets
Consumer markets
Business markets
Which one of the following 4Ps of marketing mix involves in decisions regarding list
prices, discounts, allowances and payment periods or credit terms?
Product
Price
Place
Promotion
customer? www.vuaskari.com
Communication
Convenience
Customer cost
Customer solution
Identify which one is an ancillary service.
Delivery
Promotion
Labeling
Packaging
The offering of ancillary services like credit availability, delivery, installation, and
warranty
Which of the following is NOT a part of a broad environment?
Economy
Corporate culture
Technology
Demographics
Broad environment consists of; demographic, natural, economic, technological,
political-legal and sociocultural environmen
Marketing starts with which of the following 4Ps? www.vuaskari.com
Product
Price
Place
Promotion
Which of the following is NOT included in the financial summary of a marketing plan?
Pro-forma income statement
Month-by-month agenda
Breakeven analysis
Assumptions
When a firm or store offers a price reduction to customers who buy during off-peak
periods throughout the year, we say the firm is giving a(n) _____ discount.
Functional
Seasonal
Annual
Allowance
The future isnt ahead of us, it has already happened. This sentence is closely related to
which of the following concept of marketing?
Marketing Mix
Marketing for the millennium
New advancement in marketing
Marketing research and innovation
If an NGO purchases furniture for its office, it is purchasing a(an):
Consumer good
Consumer service
Industrial good
Industrial service
Critical path analysis
Competitor indexing
Brand equity
Commercialization
o launch the product
o produce and place advertisements and other promotions
o fill the distribution pipeline with product
o critical path analysis is useful at this stag
Which of the following is NOT an aggressiveness strategy with regards of marketing
strategies? www.vuaskari.com
Harvesting
Building
Intensification
Holding
Horizontal Integration
o vertical integration
o diversification (or conglomeration)
o intensification
A Company wants to create awareness about the features and befits of their products in
the market. Which of the following decisions are important to achieve this goal?
Price decisions
Place decisions
Promotion decisions
Product decisions
Profits begin to decline during which of the following stage?
Introduction
Growth
Maturity
Decline
Which of the following step involves determining the compatibility of product with
companys objectives and resources on a general level? www.vuaskari.com
Idea generation
Idea screening
Product development
Business analysis
Idea Screening
o eliminate unsound concepts
o must ask three questions:
. will the target market benefit from the product
. is it technically feasible to manufacture the product
. will the product be profitabl
The degree to which innovation is consistent with the values and experiences of potential
adopters is the characteristics of innovation referred to as:
Communicability
Complexity
Divisibility
Compatibility
The most commonly used method of setting prices today is:
Marginal analysis pricing
Cost plus pricing
Full cost pricing
Break even pricing
Suppose a consumer product is at its maturity stage and as a marketing manager
you are assigned a task to suggest some strategies which company can adopt to
increase the sales volume at this stage. What strategies will you suggest at this stage
to increase the profit margins of the company?
Answer:
As a marketing manager Ill suggest the following strategies
1- Reduction in publicity as product is mature and customers know it
2- Reduction in price because of economies of scale
3- Discounts and allowances
4- Efficient distribution channels
Why do companies use discounts and allowances?
Answer:
Companies use discounts and allowances for various reasons some of them are
1- To give reward to loyal customers
2- For short-term profit or market gain
3- To finish out-of-season stock
4- To make product prominent
Packaging can increase the sales of products but it can act vice versa as well. Explain it
with examples.
Answer:
Packaging is very important element in marketing mix. The objectives and goals of
packaging are many.
Mostly good packaging enhance product sale. But if packaging are not done with
planning or care then it can sabotage all the effort. Because mostly packaging is done for
the safety of the product and its transportation purposes. Suppose if the box or carton in
which a perishable product is enclosed it leaks then what will be the impression of that
product on customers. It will defame the product and company/brand.
The objectives that are gotten by packaging and labeling are
1- Safety
2- Agglomeration
3- Information
4- Advertising through labeling
5- Marketing by attractive packaging
Why price is considered to be one of the most flexible elements of the marketing mix?
Explain what are the factors that can influence the price of any product?
Answer:
Price is considered the most flexible thing in marketing mix because it helps to achieve
strategic as well as business goals and objectives like
1- Profitability (to achieve business/financial objectives)
2- To adjust price according to customer purchasing power(are customers able to
purchase at this price)
3- For market positioning www.vuaskari.com
Factors that can influence the price of any product:
Following factors influence the price decisions
1- Marketing strategic objectives
2- Current Market/economic situation
3- Customers purchasing power
4- Cost of the product
5- The decision of what pricing strategy you want to adopt e.g. cost plus profit,
premium price etc.
6- The objectives of the product or brand
7- Available resources
8- Distribution channels and their relative cost
Increasing cost
Highest percentage of ideas for new products originates with/from which of the following
sources?
Top management
Customers
Competitors
Employees
How many stages are there in the new product development process? www.vuaskari.com
Six
Seven
Nine
Eight
All of the following are the sources of idea for new product development EXCEPT:
Government agencies
Competitors
Suppliers
Customers
sources of new-product ideas include
internal sources, customers, competitors, distributors and suppliers, and
others
Which of the following is essential requirement for medicines and drugs?
Secondary packaging
Primary labeling
Mandatory labeling
MANDATORY LABELING
Mandatory labeling is the requirement of consumer products to state their
ingredients or components. Moral purchasing and avoidance of health problems like
allergies are two things which are enabled by
labeling. It is mandated in most developed nations, and increasingly in developing
nations, especially for food products.
With regard to food and drugs, mandatory labeling has been a major battleground
between consumer
advocates and corporations since the late 19th century.
When a companys name is used as a product brand name, this is referred to which of the
following?
Economy brand
Fighting brand
Corporate brand
Premium brand
. When acompany's name is used as a product brand name,
this is referred to as corporate branding.
Often a very strong brand name or company name used for a range of products is known
as: www.vuaskari.com
Brand development
Multi branding
Individual branding
Family branding
When one brand name is used for several related products, this is referred to as
Family branding
All of the following are true about price EXCEPT:
Price is independent of the other elements of the marketing mix
Price is the monetary value of a product
Price is most flexible tool in the marketing mix
Price is marketing mix element which produces revenue
A company wants prompt payment from the customers. What type of discount will be
suitable for the company? www.vuaskari.com
Seasonal discount
Trade discount
Quantity discount
Cash discount
TYPES OF DISCOUNTS AND ALLOWANCES
The most common types of discounts and allowances are:
1) Cash discounts for prompt payment - These are intended to speed payment and
thereby provide liquidity to the firm. They are sometimes used as a promotional
device.
Which of the following is NOT a technique of measuring customer satisfaction and
monitoring customers complaint?
Exit interviews
Business analysis
Fall 2009 2010 & 2011
www.vuaskari.com
All are the expression of marketing concept EXPECT:
Meeting needs profitably
Find wants and fill them
Sell what is produced
Love the customer, not the product
Order processing decisions are related to which of the following?
Product
Price
Distribution
Promotion
Distribution (Place) Decisions
Distribution is about getting the products to the customer. Some examples of
distribution decisions include:
Distribution channels
Market coverage (inclusive, selective, or exclusive distribution)
Specific channel members
Inventory management
Warehousing
Distribution centers
Order processing
Transportation
Reverse logistic
Identify the major components of the microenvironment.
Company, suppliers, , customer markets, political forces, competitors and
intermediaries
Company, suppliers, intermediaries,technological forces , competitors and
customer markets
Company, suppliers, intermediaries, customer markets, competitors, and social
forces
Company, suppliers, intermediaries, customer markets, competitors, and publics
The microenvironment refers to the forces that are close to
the company and ... itssuppliers, marketing intermediaries, customer
markets, competitors, and publics
An advertising companys ownership of radio, television and newspapers is an example
of:
Horizontal integration
Vertical integration
Forward vertical integration means buying out a customer (e.g. the car
manufacturer .... such astelevision, newspapers, magazines, cinema or radio
In forward vertical integration, the company sets up subsidiaries that distribute
or marketproducts to customers or use the products themselves. An example of this
is a movie studio that also owns a chain of theaters
Which of the following are the value maximizers for the organization?
Customers
Sellers
Marketers
Manufacturers
Customers are value-maximizers. They form an expectation of value and act
on it.
Marketing management is a broader term and it covers which of the following?
Marketing mix management
Demand management
Marketing process management
All of the given options
In a television advertisement a group of teenagers is searching for some cold drinks to
quench their thrust. In their searching they find a shop and they purchase the soft drinks.
The selection of cold drink appeals to consumers _________ for liquid and attempts to
shape consumers _________ for the advertised product. www.vuaskari.com
Needs, preferences
Wants, needs
Needs, wants
Want, preference
Which of the following is the unique combination of benefits received by targeted buyers
that includes quality, price, convenience, on time delivery, and both before sale and after
sale service.
The marketing concept
Customer value
The price-quality trade off
http://highered.mcgrawhill.
com/sites/0072828803/student_view0/chapter1/multiple
_choice_quiz_a.html
Marketing programs are most closely related to:
The marketing mix
The four utilities
Customer value
Critical path analysispage no 28
Competitor indexing
Brand equity
Which of the following is NOT an aggressiveness strategy with regards of marketing
strategies?
Harvesting
Building
Intensification page no 18
Holding
Which of the following goods are purchased by customers after comparisons of
competing goods available in stores on the basis of price, quality, style and colors?
Specialty goods page no 25
Shopping goods
Impulse goods
Convenience goods
Diversification is best described as which of the following?
Existing products in new markets
Existing products in existing markets
New products for new markets
New products
One of the benefits of test marketing is,
It saves on segmentation efforts to individual consumer
It saves on total competitive advertising and promotional expenditures
It can save the company from greater potential loss and embarrassment page no
27
It is long run rather than short run planning www.vuaskari.com
Which of the following are the opinion leaders in their community and adopt new
products early but carefully?
Early adopters
Early majority page#34
Late majority
Innovators
ref.
Secondly Early Majority. They are very careful people and take time to adopt things.
They tend to collect
information about the change or the product, study carefully and then adopt on the basis
of their merits.
ABC Company sells the right to use their brand name by other companies for noncompeting
products, the company is following:
Brand licensing page#38
Co-branding
Family branding
Individual branding
ref.
When a company sells the rights to use a brand name to another company for use on a
non-competing
product or in another geographical area, this is referred to as Brand licensing.
As a marketing manager, you decide to use psychological pricing as a straegy in pricing
your firms products. He pricing procedure you decide upon is:
Odd pricing page#40
Competitive pricing
Unit pricing
Trade in pricing
A trade discount is also known as:
Cash discount
Seasonal discount
Quantity discount
Functional discount
papers solved in one mega file
y Admin Question No: 1 ( M - 1 ) .
Within the operations function, which one of the following is a long-term
management decision?

Control decision
Non-operational decision
Strategic decision
Tactical decision

Question No: 2 ( M - 1 ) .
The management of systems or processes that creates goods and provides
services is known as:

Operation Management
Operation/production Management
Operation/Research Management
Production/Research Management

Which one of the following decision is NOT made by operations managers?

How much capacity is required to balance demand?
What should be the location and layout of a facility?
How to improve operational efficiency?
Which market areas to manufacture the products for?

A business process is a logical set of tasks or activities that:

Are specific to the operations function
Are specific to the marketing function
Are interdependent with other processes
Have exactly the same performance measures for any process
Process Improvement: Process mapping and lean tools are used to better plot
out present process methods with an eye for improvement. The keys are to
understand how each process functions by itself and sequenced, integrated and
interdependent with other processes.

Which one the following formula or function can be used to measure the
performance?

Flexibility + profit+ operations
Work + profit + value
Quality + speed + flexibility
Profit + Incentives + standards
Performance= (Quality +Speed+ Flexibility)

Which of the following statements describes an order-qualifier characteristic?

A competitive dimension used to make final decision among competitors
A factor which directly and significantly contribute to winning business
A factor which increases the profitability of the organization
A factor perceived as a minimum standard as a potential for purchase

Which one of the following forecasting techniques uses explanatory variables to
predict future demand?

Associative forecast
Time series forecast
Consumer survey
Executive opinion
Associative models: uses explanatory variables to predict the future.

In which one of the following decision environments it is impossible to assess the
likelihood of various future events?

Risk
Bounded rationality
Certainty
Uncertainty

Which one of the following is an implication of laplace approach of decision
making?

The best of the worst possible payoff
The best possible payoff
The best average payoff
The least of the worst regrets

Which one of the following is an outcome of MINIMAX regret?

The best of the worst possible payoff
The best possible payoff
The best average payoff
The least of the worst regret
MINIMAX regret: Chooses the alternative with the best worst.

Which one of the following is a limitation of a moving average having a trend?

The forecast lags behind the actual
The forecast represents demand more accurately
The forecast will not be accurate
The forecast will not be reliable
Moving average: A technique that averages a number of recent actual values,
updated as new values become available.

Which one of the following refers to the maximum output that a firm can produce
under ideal conditions?

Design capacity
Effective capacity
Capacity planning
Utilization rate D
Design capacity is the maximum output rate or service capacity an operation,
process, or facility.

Which one of the following is a characteristic of continuous process?

High lead times
Short process times
The ability to handle high variety
The ability to handle high volumes
Continuous process: In manufacturing, a continuous process is a method that is
used by manufacturing or production companies to churn out the greatest
quantity of a product over the last time.

Which of the following is an example of a business that uses assembly line
process structure?

Automobile assembly
Sugar refinery
Heavy equipment
French restaurants

Which of the following layout types is associated with a supermarket?

Fixed position layout
Process layout
Product layout
Cellular layout
Examples of process layouts include supermarkets, hospitals, department stores
and component manufacturers.

Which one of the following layout types is associated with car assembly?

Fixed position layout
Process layout
Product layout
Hybrid layout
Product layouts are used to achieve a smooth and rapid flow of large volumes of
goods and customers through a system.

A department store discovered that in a four-month period, the best forecast can
be determined by using 50 percent of the sales for the most recent month, 20
percent of the sales of two months ago, 10 percent of the sales of three months
ago, and 20 percent of the sales of four months ago. Which forecasting method
should the store use to forecast demand?

Simple Moving Average
Linear Regression
Time Series Analysis
Weighted Moving Average

Which one of the following is an application of simple exponential smoothing?

Establishing durability
Finding reliability
Scheduling services
Quality improvement

Which of the following takes into consideration the design of aesthetics of the
product?

Functional design
Production design
Service design
Product design
Product design has been considered to comprise three main elements:
1.Aesthetics
2. Ergonomics.
3. Technology.

Which one of the following statements is TRUE about product life cycle?

It depicts demand of a product at various price levels
It depicts demand of a product with respect to time
It relates demand of a product to quality
It relates demand of a product to market share

Which one of the following is TRUE about Taguchi approach?

To test the robustness of a design
To articulate the voice of the customer
To reduce the degree of automation
To create a concurrent design
The defining characteristics for the Taguchi approach include: Design a robust
product.

Which one of the following is a curve showing failure rate over time?

Cost curve
Bath tub curve
Fish bone diagram
Reliability curve
Reliability curve
The bathtub curve is widely used in reliability engineering. It describes a
particular form of the hazard function which comprises three parts:
The first part is a decreasing failure rate, known as early failures.
The second part is a constant failure rate, known as random failures.
The third part is an increasing failure rate, known as wear-out failures.

Which of following statement is true about effective capacity?

It is the actual output achieved
It is always less than actual output
It is the maximum output that a firm can produce
It is always less than designed capacity
Effective capacity: Actual maximum load or demand a device or system can carry
or meet.

Which one of the following is used to produce gasoline and petroleum products?

Job shop
Batch processing
Assembly line
Continuous processing
Continuous process is a method that is used by manufacturing or production
companies to churn out the greatest quantity of a product over the last
time. Manufacturers most often use the continuous process in the manufacture of
chemicals, drugs, and glass, as well as in the refining process for crude oil.

Quality, costs, lead times, operating resources are all related to which one of the
following strategies.

Organizational strategy
Financial strategy
Operational strategy
Tectical strategy
Operations strategy is the total pattern of decisions which shape the long-term
capabilities of any type of operations and their contribution to the overall strategy,
through the reconciliation of market requirements with operations resources.

Which one of the following refers to bringing together engineering design and
manufacturing personnel early in the design phase.

Reverse engineering
Concurrent engineering
Manufacturability
Serviceability
Concurrent engineering is the bringing together of engineering design and
manufacturing personnel early in the design phase.

Which of the following refers to the way an organization chooses to produce its
goods or services?

Process selection
Process reengineering
Process redesign
Process design
Process Selection refers to the way an organization chooses to produce its good
or services.

Which one of the following is the first step in line balancing?

To specify the sequential relationship among tasks.
To determine the required cycle time.
To determine the minimum number of workstations.
To determine the desired output

Question No: 29 ( M - 3 )
Write down at least three ways of improving reliability of a system.

Answer:

With the help of following ways, reliability can be improved:

Quality of product.
By increasing the product life time.
By minimize the chances of infant mortality.

What qualities does a successful job design contain?

(Solution provided by Maria Iqbal)
Answer:

A successful Job Design must have the following qualities:

1. Carried out by experienced personnel who have the necessary training and
background.
2. Consistent with the goals of the organization.
3. In documented form.
4. Understood and agreed by both management and employees.
5. Shared with the new employees.
6. Factors that affect Job Design.

Suppose you are the operations manager of ABC Corporation. To develop
competence in business operations, you have to decide either to rely on the
facilities available in-house or outsource. What are some of the factors you would
base the decision on?

Standardization plays an important role in product design". How will you
describe this role?

Answer:

Standardization plays an important role in product design, because
Standardization is the extent to which there is an absence of variety in a product,
service or process.
Opportunities for long production runs and automation .Uninterrupted stock of
components available, so production can be controlled and if possible a demand
forecast may be used.
Need for fewer parts justify increased expenditures on perfecting designs and
improving quality control procedures. The company can free up its inventory
carrying costs and use it on increasing its long term tangible and intangible
quality standards
Reduced training costs and time. An important advantage and can improve
productivity.

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