FINALTERM EXAMINATION
Spring 2010
MKT501- Marketing Management (Session - 1)
Time: 90 min
Marks: 69
Question No: 1 ( Marks: 1 ) - Please choose one
Critical path analysis is a part of which of the following?
► Implementation stage
► Marketing strategies
► Executive summary
► Financial summary
Page 16: Implementation
Personnel requirements, assigning responsibilities, give incentives, training on selling methods, financial requirements, management information systems requirements, month-by-month agenda, pert or critical path analysis,
Question No: 2 ( Marks: 1 ) - Please choose one
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
Page 23 : A product is similar to goods. In accounting, goods are physical objects that are available in the marketplace. This differentiates them from a service, which is a non-material product.
Question No: 3 ( Marks: 1 ) - Please choose one
Which of the following is EXCLUDED from business analysis?
► Profit analysis
► Management analysis
► Cost analysis
► Sales forecast
Question No: 4 ( Marks: 1 ) - Please choose one
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
Page no 33 of handouts
An innovation refers to anything perceived by some one as new. It may have a long history of innovating product. But in true sense it’s an Innovation to the person, who sees it and it is he who spreads it through a social system.
Question No: 5 ( Marks: 1 ) - Please choose one
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
Question No: 6 ( Marks: 1 ) - Please choose one
Which of following is an example of corporate brand?
► Rafhan foods
► Knorr
► National foods
► Mercedes
Page 36: When a company's name is used as a product brand name, this is referred to as Corporate branding
Question No: 7 ( Marks: 1 ) - Please choose one
Which of the following price is quoted to a potential buyer, usually in written form?
► Wholesale price
► Market price
► List price
► Retail price
Question No: 8 ( Marks: 1 ) - Please choose one
Market price is also known as:
► Effective price
► List price
► Retail price
► Wholesaler price
Page 43 : The market price (also called effective price) is the amount actually paid.
Question No: 9 ( Marks: 1 ) - Please choose one
Which of the following is a relatively long commercial in the format of a TV program?
► TV commercial donut
► Infomercials
► Sponsorship
► Product placement
Infomercials are long-format television commercials, typically five minutes or longer. Infomercials are also known as paid programming
Question No: 10 ( Marks: 1 ) - Please choose one
Identify the type of commercial for “Save wild life”.
► Traditional commercial
► Political commercial
► Public service commercial
► Local station commercial
Question No: 11 ( Marks: 1 ) - Please choose one
Which of the following is most profitable and requires seller to have most information about the customers?
► Second degree discrimination
► Indirect segmentation
► Direct segmentation
► Complete price discrimination
Page 51: Complete price discrimination is most profitable, and requires the seller to have the most information about buyers. Indirect segmentation is least profitable, and requires the seller to have the least information about buyers
Question No: 12 ( Marks: 1 ) - Please choose one
In analyzing and building up a product portfolio a company can use:
► Boston Consulting Group matrix
► Contribution Margin analysis
► General Electric model
► All of the given options
Page 54: In building up a product portfolio a company can use various analytical techniques including
•B.C.G. Boston Consulting Group-ANALYSIS
•Contribution Margin Analysis
•GE General Electric. Multi Factorol Analysis
Question No: 13 ( Marks: 1 ) - Please choose one
Nido has advertised that get 5% extra milk for the same price. Identify the type of consumer sales promotion technique used by Nido.
► Cents-off deal
► Price deal
► Loyalty rewards program
► Price-pack deal
Page 60: •Price-pack deal
The packaging offers a consumer a certain percentage more of the product for the same price (for example, 25 percent extra).
Question No: 14 ( Marks: 1 ) - Please choose one
Which of the following is the type of distribution in which a company stocks the product in as many outlets as possible?
► Exclusive distribution
► Corporate distribution
► Intensive distribution
► Selective distribution
Page 88: Intensive distribution - Where the majority of resellers stock the `product' (with convenience products, for example, and particularly the brand leaders in consumer goods markets) price competition may be evident.
Question No: 15 ( Marks: 1 ) - Please choose one
Which of the following is the benefit of intensive distribution?
► It increases coverage only
► It increases sales only
► It increases coverage and price
► It increases coverage and sales
Question No: 16 ( Marks: 1 ) - Please choose one
Outbound operations, including all fulfillment activities and transportation to customers are which type of supply chain management activities?
► Strategic level
► Tactical level
► Operational level Page 91
► Functional level
Question No: 17 ( Marks: 1 ) - Please choose one
Direct selling is best for which of the following?
► Furniture
► Refrigerator
► Car
► Encyclopedia
Question No: 18 ( Marks: 1 ) - Please choose one
Telemarketing is an example of which of the following:
► Electronic sales
► Industrial selling
► Indirect selling
► Direct selling
Page 72 : Indirect - human-mediated but with indirect contact • telemarketing or telesales
Question No: 19 ( Marks: 1 ) - Please choose one
The physical aspects of the product are stimuli that the consumer receives from his or her environment. These are classified as ________ aspects.
► Significative
► Symbolic
► Social
► Perceptual
Page 98: Significative - the 'real' (physical) aspects of the product or service (which the company make use of)
Question No: 20 ( Marks: 1 ) - Please choose one
Especially for which type of products the marketers should view packaging as a major strategic tool?
► Convenience products
► Consumer shopping products
► Industrial products
► Specialty products
Question No: 21 ( Marks: 1 ) - Please choose one
Which of the following concepts is defined as the “responsiveness of the quantity demanded of a good or service to a change in its price”?
► Price elasticity
► Break-even pricing
► Demand curve
► Target cost
Question No: 22 ( Marks: 1 ) - Please choose one
Which one of the following models is created by “Chris Fill”?
► Major Community Facilities Program
► Medical Center for Federal Prisoners
► Minimum Cost Flow Problem
► Marketing Communications Planning Framework
Page 57: The Marketing Communications Planning Framework (MCPF) is a model for the creation of an integrated marketing communications plan. Created by Chris Fill,
Question No: 23 ( Marks: 1 ) - Please choose one
Objectives are common in which of the following pair of group activities?
► Decision making-Influencing
► Influencing-Negotiation
► Decision making-Negotiation
► All of the given options
Page 75: Negotiation differs from "influencing" and "group decision making."
Question No: 24 ( Marks: 1 ) - Please choose one
In which of the following countries, arcades (a street of several different shops) were invented?
►France
►Italy
►Germany
►England
Page 95: In the nineteenth century, in France, arcades were invented, which were a street of several different shops,
Question No: 25 ( Marks: 1 ) - Please choose one
Which of the following shopping involves walking through a shopping district or mall with the purpose of looking at the displays in each retail store?
►Window shopping
►Online shopping
►Actual shopping
►Virtual shopping
Question No: 26 ( Marks: 1 ) - Please choose one
Which of the following statement reflects one of the concepts “Significative” i.e. a stimuli received by consumer from his or her environment?
►The 'real' (physical) aspects of the product or service (which the company make use of)
►The ideas or images attached by the supplier (for example by advertising)
►The ideas or images attached to the product or service by 'society' (for example, by reference groups)
►The ideas or images attached by the manufacturer
Page 98: Significative - the 'real' (physical) aspects of the product or service (which the company make use of)
Question No: 27 ( Marks: 1 ) - Please choose one
By keeping in the mind the SWOT analysis, identify ‘strength” from the following given options:
►Changing customer tastes
►Closing of geographic markets
►Tax increases
►Customer loyalty/relationship
Question No: 28 ( Marks: 1 ) - Please choose one
Which of the following options reflects “Weakness” of any organization?
►Unreliable product service
►Leading brand
►Changing customer tastes
►Technological skills
Question No: 29 ( Marks: 1 ) - Please choose one
In which of the following researches, researcher creates a quasi-artificial environment to control spurious factors and then manipulates at least one of the variables?
►Qualitative marketing research
►Quantitative marketing research
►Experimental techniques page 109
►Observational techniques
Question No: 30 ( Marks: 1 ) - Please choose one
If an NGO purchases furniture for its office, it is purchasing a(an):
►Consumer good
►Consumer service
►Industrial good
►Industrial service
Question No: 31 ( Marks: 1 ) - Please choose one
Typically high priced and frequently used branded are:
► Impulse goods
► Convenient goods page 24
► Shopping goods
► Specialty good
Question No: 32 ( Marks: 1 ) - Please choose one
Pricing a product at 4.99 Rs rather than 5 Rs is an example of which of the following?
► Unit pricing
► Odd pricing
► Round down pricing
► One price policy
Page 40: 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.
Question No: 33 ( Marks: 1 ) - Please choose one
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( not sure)
► Target return
► Sales maximization
► Market share
Question No: 34 ( Marks: 1 ) - Please choose one
which statement would qualify as a definition of a cash discount?
► A 3 percent discount for buying the truckload
► A discount for performing some promotional activities
► Receiving a rebate for cash payment
► A discount for prompt return of invoice with payment
Question No: 35 ( Marks: 1 ) - Please choose one
Management at XYZ Company is having difficulty in raising the introductory price on system components to cover its increased costs. To cover the increased costs the XYZ Company will use which of the following pricing policy in pricing these components?
► Odd-even
► Skimming
► Penetration
► Psychological
Question No: 36 ( Marks: 1 ) - Please choose one
Costs that remain stable regardless of the level of production achieved are called:
► Fixed cost
► Variable cost
► Average total cost
► Marginal cost
Question No: 37 ( Marks: 1 ) - Please choose one
Which of the following offers cash to customers who purchases a specific product within a specified time period?
► Rebates
► Coupons
► Contests
► Free travel
Question No: 38 ( Marks: 1 ) - Please choose one
The stage in which the sales person relates the feature of its product to the needs of customer is:
► Demonstration
► Prospecting
► Presentation
► Close
Question No: 39 ( Marks: 1 ) - Please choose one
The presentation which is given by the sales person should include:
► Discussing the product’s technical specification
► Mentioning the product weakness
► Criticizing the competitor’s product
► Pointing out the product’s strength and weaknesses
Question No: 40 ( Marks: 1 ) - Please choose one
According to many sales management experts, the very essence of sales process is:http://vusolutions.blogspot.com/
► Prospecting
► Presentation
► Approach
► Close of sale
Question No: 41 ( Marks: 1 ) - Please choose one
One factor that would cause the marketing channel to be longer is:
► The geographical concentration of consumers
► Product having low technical complexities
► The manufacturer desire to control the channel
► Large orders
Question No: 42 ( Marks: 1 ) - Please choose one
Which of the following shows the type of distribution channel in which manufacturer designated only a few dealers in an area to carry its products?
► Selective distribution
► Intensive distribution
► Exclusive distribution
► None of the given options
Page 88: Exclusive distribution - Only specially selected resellers (typically only one per geographical area) are allowed to sell the `product'.
Question No: 43 ( Marks: 1 ) - Please choose one
Which of the following are wholesaling intermediaries who may or may not take possession but who never take the title?
► Merchant wholesaler
► Agent (not sure)
► Wholesalers
► None of the given options
Question No: 44 ( Marks: 1 ) - Please choose one
Due to the decline in the growth of planned shopping centers in recent years, new strategies are being pursued such as:http://vusolutions.blogspot.com/
► A combination of shopping mall, amusement park, and hotel
► A combination of shopping mall and car parking facility
► Complimentary theater tickets for shopping centre customers(not sure)
► Live TV broadcast from the shopping centers
Question No: 45 ( Marks: 1 ) - Please choose one
According to Maslow's hierarchy of needs theory, which need will emerge when the physiological needs are met?
► Love
► Safety
► Status
► Being
Question No: 46 ( Marks: 1 ) - Please choose one
Which of the following statements concerning consumer behavior is true?
► It is a decision process and the act of purchasing
► It is impossible to predict due to variance in income level and culture
► It is a result of fixed activities performed by the consumers
► It is determined by the individual genetic characteristics
Question No: 47 ( Marks: 1 ) - Please choose one
Sales forecast plays a major role in:
► New product decisions
► Production technology
► Quality control
► Marketing research
Question No: 48 ( Marks: 1 ) - Please choose one
Which of the following would be a topic for exploratory research?http://vusolutions.blogspot.com/
► Accounting procedure and financial practices
► Publicity and public relations
► New product development
► Sales result and market coverage
Question No: 49 ( Marks: 3 )
You are going to purchase a personal computer; which channel of distribution you will use to purchase your computer. Explain it with logical reasoning.
A. I will prefer to purchase to retailer, because it’s convenient rather than searching out the different companies for every part of PC. Its feel me easy to buy from one place. In some cases it’s not possible that to purchase single from manufacturer.
Question No: 50 ( Marks: 3 )
In SWOT analysis “S” and “W” are considered as Strength and Weakness. Define these two concepts by taking example of each.
A.
· Strengths are traits of the organization that are supportive for the success of the objective, e.g. size of company comparatively to other, cash flow, acuity of companies’ product & many more.
· Weaknesses are characteristics of the organization that are injurious to the achievement of the objective, e.g. poor management, lack of employee talent etc.http://vusolutions.blogspot.com/
Question No: 51 ( Marks: 5 )
You as a technical consultant, on behalf of clients, have participated in negotiations. On which basis you will determine the success of negotiation and failure of negotiation at the end of negotiation session?
A. Every negotiation needs planning. At the end of session if I able to satisfy the clients queries or I convince him to buy the product, it’s seems successful negotiation. In failure sessions, clients’ stills have some confusion in mind regarding the product/service or subject.
Question No: 52 ( Marks: 5 )
A general model of the buyer decision process implies that customers pass through all stages in every purchase. Do you think that in more routine purchases, customers often skip some of the stages? Justify your answer with logical reasoning by taking an example of hamburger purchased by a student.
A. Yes, purchaser often skips some stages in process. As in example of hamburger purchased by student there is so may factor which enforce him for quick decision and skip some steps.
· Some students are in hurry they don’t have proper knowledge about the restaurant and just buy it which is economical for them.
· Some time student purchase the cheapest burger no matter how it taste or healthy or not.
· Some time students are addict to certain brands, so they don’t look at other alternatives and just buy their favorite one. Etc. http://vusolutions.blogspot.com/
Question No: 53 ( Marks: 5 )
There are different activities which are performed in the supply chain management process in order to get satisfaction level of the customers. In your view what type of tactical activities are performed in the supply chain management process?
A. Following are some activities to be performed:
· Source contracts and other purchasing decisions.
· Production decisions, locations, scheduling, and planning process.
· Inventory decisions, including quantity, location, and quality of inventory.
· Transportation strategy, including, routes, and contracting.
· Benchmarking of all operations against competitors and implementation of best practices throughout the enterprise.
