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Monday 6 December 2010

Complete Solved Midterm MGT301- Principles of Marketing paper

MIDTERM  EXAMINATION
Fall 2009
MGT301- Principles of Marketing (Session - 3)
Ref No:
Time: 60 min
Marks: 50
Question No: 1    ( Marks: 1 )    - Please choose one
The type of product that results from applying human and mechanical efforts to people or objects refers to which one of the following options?
► An idea
A service
► A philosophy
► A concept
Question No: 2    ( Marks: 1 )    - Please choose one
When Olympia Carpets develops new carpets that are highly stain resistant and durable, it must educate consumers about the product's benefits. This activity calls for which one of the following marketing mix variables?
► Price
► Promotion
► Distribution
Product
Question No: 3    ( Marks: 1 )    - Please choose one
Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to which of the following options?
► Customer perceived value
► Marketing myopia
► Customer relationship management
Customer satisfaction
Question No: 4    ( Marks: 1 )    - Please choose one
Which one of the following statements by a company chairman BEST reflects the marketing concept?
We have organized our business to satisfy the customer needs
► We believe that marketing department must organize to sell what we produce
► We try to produce only high quality, technically efficient products
► We try to encourage company growth in the market
Question No: 5    ( Marks: 1 )    - Please choose one
Which one of the following concepts is a useful philosophy in a situation when the product’s cost is too high and marketers look for ways to bring it down?
► Selling concept
Product concept
► Production concept
► Marketing concept
Question No: 6    ( Marks: 1 )    - Please choose one
Which one of the following is a key to build lasting relationships with consumers?
► Price of the product
► Need recognition
Customer satisfaction
► Quality of product
Question No: 7    ( Marks: 1 )    - Please choose one
Which one of the following options enables consumers and companies to access and share huge amounts of information with just a few mouse clicks?
► Digital age
► Internet
Extranet
► WWW
Question No: 8    ( Marks: 1 )    - Please choose one
Which one of the following options is best to explain the purpose of intranets?
► Buying and selling processes
► Business-to-business purchasing
Communication among employees
► Maintaining customer relations
Question No: 9    ( Marks: 1 )    - Please choose one
Which of the following sets refers to the order or sequence of marketing management functions?
► Control – implementation – market planning
► Market planning – control – implementation
► Implementation – control – market planning
Marketing planning – implementation - control
Question No: 10    ( Marks: 1 )    - Please choose one
Advertising agencies are an example of which of the following marketing intermediaries?
► Insurance company
► Financial intermediary
Marketing services agency
► Physical distribution firm
Question No: 11    ( Marks: 1 )    - Please choose one
Marketing information from which of the following databases can be accessed more quickly and cheaply?
► External
► Internal & External
Internal
► Representatives
Question No: 12    ( Marks: 1 )    - Please choose one
The objective of which of the following research is to gather preliminary information that will help define the problem and suggest hypotheses?
► Descriptive
► Exploratory
Causal
► Corrective
Question No: 13    ( Marks: 1 )    - Please choose one
Which method of research can be used to obtain information if people are unwilling or unable to provide?
► Observations
► Focus groups
Personal interviews
► Questionnaires
Question No: 14    ( Marks: 1 )    - Please choose one
A person on the University Book Shop's survey asks respondents to tell the shop, in their own words, what they like least about textbook shopping. What is a type of this question?
An open-ended
► A dichotomous
► A multiple choice
► A scale
Question No: 15    ( Marks: 1 )    - Please choose one
ABC Research Group must guard against problems during the implementation phase of marketing research for its clients. Typically, management will not encounter which of these problems?
Respondents who refuse to cooperate or give biased answers
► Interviewers who make mistakes or take shortcuts
Interpreting and reporting the findings
► Primary data that conflict with secondary data
Question No: 16    ( Marks: 1 )    - Please choose one
Society’s relatively permanent and ordered divisions whose members share similar values, interests and behaviors reflect which one of the following option?
Social classes
► Habitual buyers
► Charismatic leaders
► Opinion leaders
Question No: 17    ( Marks: 1 )    - Please choose one
In a reference group, people having special skills, knowledge, personality, or other characteristics, exert influence on others. Which one of the following option refers to these people?
► Opinion leaders
► Habitual buyers
Charismatic personalities
► Wild ducks
Question No: 18    ( Marks: 1 )    - Please choose one
A change in an individual's behavior prompted by information and experience refers to which one of the following concept?
► Learning
► Role selection
► Perception
Motivation
Question No: 19    ( Marks: 1 )    - Please choose one
The factors such as the buyer’s age, life-cycle stage, occupation, economic situation, lifestyle, personality and self-concept that influences buyer’s decisions refers to which one of the following characteristic?
► Personal characteristics
► Psychological characteristics
► Behavioral characteristics
Demographical characteristics
Question No: 20    ( Marks: 1 )    - Please choose one
Identify the process by which individuals organize and interpret their sensory impressions in order to give meaning to their environment?
► Personality
Perception
► Selective group
► Habitual behavior
Question No: 21    ( Marks: 1 )    - Please choose one
A transaction in which the organization is making an initial purchase of an item to be used to perform a new job refers to which of the following purchases?
► Straight rebuy purchase
► Delayed purchase
New-task purchase
► Modified rebuy purchase
Question No: 22    ( Marks: 1 )    - Please choose one
In its purchase of a small business computer, Mr. Ateeq asked that potential suppliers provide information only on units with 1Mb of memory. As management evaluates the purchase, it finds that 1Mb is inadequate for many of the software programs they use. In this instance, the firm would need to modify which aspect of the purchase process?
► Searching
► Specification development
► Alternative evaluation
Performance evaluation
Question No: 23    ( Marks: 1 )    - Please choose one
Following are the variables for the segmentation of international markets EXCEPT:
► Geographic factors
► Economic factors
► Cultural factors
Psychological factors
Question No: 24    ( Marks: 1 )    - Please choose one
With concentrated marketing, the marketer goes after a _____ share of _____.
► Small; a small market
► Small; a large market
Large; one or a few niches
► Large; the mass market
Question No: 25    ( Marks: 1 )    - Please choose one
Beyond quality level, high quality also can mean high levels of quality consistency. Here, “Freedom from defects and consistency in delivering a targeted level of performance” refers to which of the following qualities?
► Perceived quality
Product quality
► Adherence quality
► Conformance quality
Question No: 26    ( Marks: 1 )    - Please choose one
Customer service is another element of product strategy. The first step is to survey customers periodically to assess the value of current services and to obtain ideas for new ones. From this careful monitoring, marketer has learned that buyers are very upset by repairs that are not done correctly the first time. What is the name of these types of services?
► Brand equity services
Product support services
► Social marketing services
► Unsought product services
Question No: 27    ( Marks: 1 )    - Please choose one
In which of the following cases two established brand names of different companies are used on the same product?
► Brand extension
► Brand equity
Co-branding
► Cannibalization
Question No: 28    ( Marks: 1 )    - Please choose one
With what groups do firms conduct concept testing for new products?
► Suppliers
Employees
► Target customers
► Focus groups
Question No: 29    ( Marks: 1 )    - Please choose one
Once the product or service passes the business analysis test, it moves into which stage?
► Concept development
Product development
► Market testing
► Product proposal
Question No: 30    ( Marks: 1 )    - Please choose one
Which one of the following groups of people get the product exposure but is not often perceived by the majority of potential buyers as typical consumers?
► Early Majority
Late Majority
► Early Adopter
► Innovators
Question No: 31    ( Marks: 1 )    - Please choose one
First National Bank launches an innovative in-home banking system tied to personal computers. The product is not widely accepted because bank customers don't see the need for such a service. Which one of the following is the best discretion of product failure?
Establishment of a customer information system
► Organization structure
► Technological advancement
► Scanning corporate capabilities
Question No: 32    ( Marks: 1 )    - Please choose one
In Boston Consulting Group approach, which one of the following is a measure of company's strength in the market?
Relative market share
► Market share
► Business portfolio
► Market growth rate
Question No: 33    ( Marks: 1 )    - Please choose one
Which one of the following is a chief goal of the implementation function in marketing process?
Develops marketing plans
► Turns plans into actions
► Takes corrective actions
► Develops strategic plans
Question No: 34    ( Marks: 1 )    - Please choose one
Finance, research and development, purchasing and manufacturing all are the activities of which element of the micro environment?
► Suppliers
► Retailers
Companies
► Publics
Question No: 35    ( Marks: 1 )    - Please choose one
Buying goods and services for further processing or for use in the production process refers to which of the following markets?
Consumer markets
► Government markets
► Business markets
► International markets
Question No: 36    ( Marks: 1 )    - Please choose one
Political force is one of the forces of marketing macro environment. Identify the view of marketer about the political forces.
► Simple to recognize
Beyond their control
► Easily ignored
► Easily influenced
Question No: 37    ( Marks: 1 )    - Please choose one
Chimney Sweeps employs people to clean fireplaces and chimneys in homes and apartments. The firm is primarily the marketer of which one of the following?
► An image
A service
► A good
► An idea
Question No: 38    ( Marks: 1 )    - Please choose one
What does it show “Increasing demand, as well as changing or even reducing demand”?
Marketing management
► Marketing myopia
► Demarketing
► Relationship management
Question No: 39    ( Marks: 1 )    - Please choose one
Environmental groups are one kind of which of the following publics?
► Citizen-action publics
► Media publics
► Government publics
Local publics
Question No: 40    ( Marks: 1 )    - Please choose one
Which one of the following is NOT considered as competitive differentiation of a company?
► Product
► Service
► Image
Sales
Question No: 41    ( Marks: 10 )
How would you classify customers according to their buying behavior based on the type of the product?
Answer:
The customers buying behavior is based on Demographical characteristics, Bargaining, Quality of product and after sale Service. Marketer always should concentrate on buyer’s needs and requirements and provided better quality of service and create good relationship with that kind of customers and plan for marketing accordingly to adhere with those kinds of customers.
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