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MGT301 Principles of Marketing


Mid Term Examination - November 2004
Time Allowed: 90 Minutes

Instructions
Please read the following instructions carefully before attempting any of the
questions:

1. Attempt all questions. Marks are written adjacent to each question.


2. Do not ask any questions about the contents of this examination from
anyone.
a. If you think that there is something wrong with any of the questions,
attempt it to the best of your understanding.
b. If you believe that some essential piece of information is missing,
make an appropriate assumption and use it to solve the problem.
c. Write all steps, missing steps may lead to deduction of marks.

**WARNING: Please note that Virtual University takes serious note of unfair means.
Anyone found involved in cheating will get an `F` grade in this course. Every paper has
four subjective questions while 10 objective questions

Total Marks: 60 Total


Questions: 14

Question No. 1 Marks : 1

A common practice among marketers is to identify and develop new markets for their existing
products. This practice is called _____.

1 Market development
2 Product development
3 Market penetration
4 Market skimming

Question No. 2 Marks : 1


____ are society's relatively permanent and ordered divisions whose members share similar
values, interests, and behaviors

1 Social classes
2 Purchase decisions
3 Perceptions
4 Attitudes

Question No. 3 Marks : 1

The five alternative concepts under which organizations conduct their marketing activities
include the production, _____, selling, marketing, and societal marketing concepts

1 Promotion
2 Pricing
3 Distribution
4 Product
Question No. 4 Marks : 1

The most commercially influential demographic group in history is _____.

1 Generation X
2 Baby boomers
3 Generation Y
4 Seniors

Question No. 5 Marks : 10

Describe the Steps of Consumer buying process.

Question No. 6 Marks : 1

The twofold goal of marketing is to attract new customers by promising superior Value and to
_____.

1 Keep and grow current customers by delivering satisfaction


2 Keep and grow current customers by delivering competitive pricing
3 Keep and grow current customers by delivering friendly service
4 All of the given options

Question No. 7 Marks : 10

List and explain the "core, actual, and augmented products" of the educational experience
that universities offer. How are these different, if at all, from the "product" offered by junior
colleges?

Question No. 8 Marks : 10

Discuss the functions of a marketing information system (MIS).


Question No. 9 Marks : 1

The objective of _____ research is to gather preliminary information that will help define the
problem and suggest hypothesis

1 Descriptive
2 Exploratory
3 Causal
4 Current

Question No. 10 Marks :1

When your firm practices developing and maintaining a strategic fit between your
organization's goals and capabilities, it is forming
1 mission statement
2 values statement
3 strategic plan
4 operating plan

Question No. 11 Marks :1

With respect to the product life cycle, the ______________ is a period of slow sales growth
as the product is introduced in the market

1 product development stage


2 introduction stage
3 growth stage
4 maturity stage

Question No. 12 Marks :1

The _____ environment consists of factors that affect consumer purchasing power and
spending patterns

1 Social-cultural
2 Political-legal
3 Technological
4 Economic

Question No. 13 Marks :1


Choose the item from the following that is not one of the standard four Ps
1 Product
2 Place
3 Positioning
4 Price

Question No. 14 Marks : 10

Define the following:


1. Marketing
2. Needs and wants
3. Marketing offer
4. Value
5. Exchanges

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