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Tuesday 21 December 2010

MGT301- Principles of Marketing Complete Solved FinalTerm Past Paper Of VU

FINALTERM  EXAMINATION
Fall 2008
MGT301- Principles of Marketing (Session - 3)
Time: 120 min
Marks: 85
Question No: 1    ( Marks: 1 )    - Please choose one
 If a company's customers are concentrated in a small geographic area and the company sells technical products, which promotion method will it most likely use?
       ► Advertising
       ► Publicity
       ► Personal selling
       ► Sales promotion
   
Question No: 2    ( Marks: 1 )    - Please choose one
 Which of the following option is NOT related with environmental sustainability strategies?
       Pollution prevention
       Product stewardship
       Production of non environment friendly products
       New environmental technologies
   
Question No: 3    ( Marks: 1 )    - Please choose one
 Which one the following options is related with this statement “Innovations in research and development of technologies, products and markets, set standards and shares them with other firms. This shows small or moderate country market shares but high shares when all strategic "standards users" are included.”
       ► Global leader strategy
       ► Global challenger strategy
       ► Global collaborator strategy
       ► Global follower strategy
   
Question No: 4    ( Marks: 1 )    - Please choose one
 GATT stands for which one of the following?
       ► General Agreement on Tariffs and Tax
       ► General Agreement on Tax and Trade
       ► General Agreement on Traffic and Trade
       ► General Agreement on Tariffs and Trade
   
Question No: 5    ( Marks: 1 )    - Please choose one
 Which one of the following is a position option open to smaller firms that serves some part of the market that is not likely to attract the attention of the larger firms?
       ► Market leader
       ► Market challenger
       ► Market follower
       ► Market niche

Question No: 6    ( Marks: 1 )    - Please choose one
 Which one of the following faces three challenges: expanding the total market, protecting market share and expanding market share?
       ► Market leader
       ► Market challenger
       ► Market follower
       ► Market niche
   
Question No: 7    ( Marks: 1 )    - Please choose one
 Review of the sales, costs and profit projections for a new product to find out whether these factors satisfy the company’s objectives comes under which one of the following concepts?
       ► Business Analysis
       ► Product Development
       ► Test Marketing
       ► Commercialization
   
Question No: 8    ( Marks: 1 )    - Please choose one
 The concept of market _____________ arranges for a product to occupy a clear, distinctive, and desirable place relative to competition.
       Positioning
       Place
       Price
       Product
   
Question No: 9    ( Marks: 1 )    - Please choose one
 Which one of the following are low-growth, low-share businesses and products (they may generate enough cash to maintain them, but do not have much future)?
       ► Dogs
       ► Cash Cows
       ► Stars
       ► Question Marks
   
Question No: 10    ( Marks: 1 )    - Please choose one
 Which one of the following authorities might use several tools like news, speeches and special events for the marketing purpose?

       ► Advertising agencies
       ► Advertising specialists
       ► Public relation professionals
       ► Computer programmers
   
Question No: 11    ( Marks: 1 )    - Please choose one
 Catalog marketing can be personalized on a one-to-one basis. Which one of the following is NOT a common form of catalog marketing?

       ► Print catalog
       ► Video catalog
       ► Add-on catalog
       ► Electronic catalog
   
Question No: 12    ( Marks: 1 )    - Please choose one
 Which one of the following is the fastest growing form of marketing that reach more customers and save money?

       ► Advertising
       ► Direct marketing
       ► Public relations
       ► Personal selling
 
Question No: 13    ( Marks: 1 )    - Please choose one
 Three common techniques are used by sales managers to boost sales force morale. These  include the organizational climate, sales quotas and which one of the following is the third technique?

       ► Positive incentive
       ► Positive thinking
       ► Positive recognition
       ► Positive feedback
   
Question No: 14    ( Marks: 1 )    - Please choose one
 Sales managers must also make decisions about organizing the sales force. Assuming the sales force is to be managed internally, the sales manger has four broad choices for organizing the sales force. Which of the following is NOT one of these four choices?

       Product-based
       Geographically-based
       Demographically-based
       Customer-based

Question No: 15    ( Marks: 1 )    - Please choose one
 The various stages of the personal selling process are illustrated below, which one of the following is NOT specific roles of the sales representative?

       Negotiating and closing the sale
       Sales presentation
       Prospecting
       Devising product strategy
   
Question No: 16    ( Marks: 1 )    - Please choose one
 "Looking for new customers" refers to which one of the following concept?


       Soliciting
       Presenting
       Prospecting
       Qualifying
   
Question No: 17    ( Marks: 1 )    - Please choose one
 Mr. Rahil is shopping at a departmental store. He completes an entry form at the checkout for a prize draw which gives him a chance to win a new car. He is participating in which of the following?
       Consumer contest
       Sales contest
       Sales competition
       Consumer sweepstake
   
Question No: 18    ( Marks: 1 )    - Please choose one
 Which of the following advertising becomes more important to build selective demand as competition increases?
       Persuasive advertising
       Informative advertising
       Patronage advertising
       Reminder-oriented advertising
   
Question No: 19    ( Marks: 1 )    - Please choose one
 Which one of the following advertising decisions can be classified by primary purpose, whether the aim is to inform, persuade or remind?

       Advertising objectives
       Advertising budgets
       Advertising strategies
       Advertising campaigns

Question No: 20    ( Marks: 1 )    - Please choose one
  Which one of the following advertising is required by a product in the maturity stage?
       Informative
       Comparative
       Persuasive
       Reminder
    
Question No: 21    ( Marks: 1 )    - Please choose one
 If you are attempting to create primary demand toward your product, you will use which type of the following ads?
       Informative
       Persuasive
       Reminder
       Cooperative

Question No: 22    ( Marks: 1 )    - Please choose one
 Pull promotion is one of the promotion mix strategies. Which of the following are heavy expenditures in pull promotion?
       Advertising and sales promotion
       Public relations and distribution
       Personal selling and public relations
       Distribution and advertising
   
Question No: 23    ( Marks: 1 )    - Please choose one
 Proctor and Gamble periodically sends out coupons and free samples of products.  This illustrates to which one of the following elements of the promotion mix?
       Advertising
       Personal selling
       Sales promotion
       Publicity
 
Question No: 24    ( Marks: 1 )    - Please choose one
 Which one of the following concepts is considered as the basic role of promotion?

       Information
       Manipulation
       Communication
       Interpretation
   
Question No: 25    ( Marks: 1 )    - Please choose one
 Eliminating a wholesaler from a marketing channel results in which of the following?

       Will cut costs and lead to lower prices in the market
       May or may not lower prices and will not eliminate the functions performed by the wholesaler
       Will eliminate the functions performed by the wholesaler and will lower costs
       Will reduce channel conflict among the channel members

Question No: 26    ( Marks: 1 )    - Please choose one
 Nike maintains a good deal of control over how its products are promoted, displayed, and sold. Because of this control, Nike would be appropriately described as which of the following?

       Intermediary
       Leader
       Allocator
       Terminator
   
Question No: 27    ( Marks: 1 )    - Please choose one
 Competitor price increases are more likely to be followed when they are due to:

       Falling sales
       General rising costs
       Increased advertising
       Price wars
   
Question No: 28    ( Marks: 1 )    - Please choose one
 Three key issues associated with initiating price changes are, the circumstances, the tactics and:

       Sales targets
       Bad publicity
       Stock levels
       Competitor reactions

Question No: 29    ( Marks: 1 )    - Please choose one
 Which one of the following pricing method is the simplest pricing method?

       Value-based
       Fixed cost
       Cost-based
       Skimming
   
Question No: 30    ( Marks: 1 )    - Please choose one
 When management at Yamaha Motorcycles makes decisions on saddlebags, handle bars, and seats for its bikes, they become engaged in which one of the following pricing?
       Product line pricing
       Optional-product pricing
       Captive-product pricing
       Value-based pricing

Question No: 31    ( Marks: 1 )    - Please choose one
 A penetration-pricing policy is particularly appropriate when demand is:

       Increasing
       Highly elastic
       Highly inelastic
       Decreasing
   
Question No: 32    ( Marks: 1 )    - Please choose one
 Management at Philips Electronics is having difficulty in raising the introductory price on system components to cover its increased costs. Apparently, Philips used a ________ pricing policy in pricing these components.

       Odd-even
       Skimming
       Penetration
       Psychological
   
Question No: 33    ( Marks: 1 )    - Please choose one
 Which one of the following pricing objectives is rarely operational because its achievement is difficult to measure?

       Return on investment
       Profit maximization
       Market share
       Survival
   
Question No: 34    ( Marks: 1 )    - Please choose one
 Price is a key element in the marketing mix because it relates directly to:

       The size of the sales force
       The speed of an exchange
       The control of quality
       The generation of total revenue
  
Question No: 35    ( Marks: 1 )    - Please choose one
 After concept testing, a firm would engage in which stage for developing and marketing a new product?

       Marketing strategy development
       Business analysis
       Product development
       Test marketing
   
Question No: 36    ( Marks: 1 )    - Please choose one
 Which of the segmenting strategies carries higher-than-average risks in consumer markets?
       Concentrated
       Differentiated
       Undifferentiated
       Multiple-segment

Question No: 37    ( Marks: 1 )    - Please choose one
 When the size, purchasing power and profiles of business market segments can be determined, they are said to possess the requirement of being what?
       Measurable
       Accessible
       Substantial
       Actionable
   
Question No: 38    ( Marks: 1 )    - Please choose one
 The fact that organizational customers purchase products to be used directly or indirectly in the production of goods and services to satisfy customers' needs. This situation shows which of the following demands?
       Joint
       Derived
       Inelastic
       Fluctuating
   
Question No: 39    ( Marks: 1 )    - Please choose one
 Learning occurs through the interplay of all of the following EXCEPT:
       Drives
       Stimuli
       Cues
       Behavior
  
Question No: 40    ( 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: 41    ( Marks: 1 )    - Please choose one
 Identify the concept that elaborates the systematic collection and analysis of publicly available information about competitors and developments in the marketing environment.
       Marketing data
       Marketing intelligence
       Web Master
       Secondary data
 
Question No: 42    ( Marks: 1 )    - Please choose one
 The marketing information system is not limited to use by the company. It may also provide information to which of the following?

       The government
       External partners
       Various publics
       Competitors
   
Question No: 43    ( Marks: 1 )    - Please choose one
 Which of the following forces shows the marketing macro environment?

       Demographic, economic, natural, technological, political, and social
       Demographic, natural, economic, political, social, and cultural
       Demographic, economic, natural, technological, political, and cultural
       Demographic, economic, natural, social, political, and legal
   
Question No: 44    ( Marks: 1 )    - Please choose one
 In the Boston Consulting Group approach, which one of the following is a measure of company strength in the market?

       Relative market share
       BCG matrix
       Business portfolio
       Market growth rate
 
Question No: 45    ( Marks: 1 )    - Please choose one
 ABC Company’s strategy of cutting prices on its cigarettes to enlarge its market share in the increasingly competitive tobacco industry refers to which of the following strategies?
       Product development
       Market development
       Product penetration
       Concentric integration
   
Question No: 46    ( Marks: 1 )    - Please choose one
 In the Boston Consulting Group approach, which one of the following measure provides a measure of market attractiveness?

       Business portfolio
       BCG matrix
       Market growth rate
       Relative market share

Question No: 47    ( Marks: 1 )    - Please choose one
 In case of an intense competition there are a number of manufacturers and buyers who have more options for product switching. Which one of the following forces represents it?

       Threat of new entrants
       Bargaining power of buyers
       Bargaining power of suppliers
       Rivalry among competing firms
   
Question No: 48    ( Marks: 1 )    - Please choose one
 When a customer pays Rs.1000 and receives a television set in return. What does this example shows?

       Exchange
       Transaction
       Market
       Segment
   
Question No: 49    ( Marks: 1 )    - Please choose one
 In a Michael Porter Model, which one of the following options is a major tool in the identification of ways to create value in an organization?
       Chain model
       The BCG model
       Five forces model
       Value chain model

Question No: 50    ( Marks: 1 )    - Please choose one
 Which one of the following option is NOT a benefit of internet marketing?
       Cost effective
       Time saving
       Reliability
       Open new venue
   
Question No: 51    ( Marks: 5 )
 Retailers may offer one of three levels of service. Describe the types of retailers on the basis of services they offer?


Retailers are divided into 2 groups, store retailers and non store retailers. The services which store retailer performs are the product line sold, retail organization format, control of outlets and relative prices charging. The service which non store retailers perform are they do door to door selling, direct marketing, telephone and TV shopping shows. Online services and internet Etc. 


Question No: 52    ( Marks: 10 )
 What do you understand by the term “Communication”, how many element are in communication process. Enlist those elements with a brief explanation.

Communication: it is a process of sending and receiving messages and getting a response.
In communication process there are the following 7 elements.
Message: it is the data which sender wants to transmit

Media; it is a channel or medium used for communication. For example, internet, phone or letter.

Decoding is a process in which the receiver translates the message of sender into its original form.

Receiver is the person who receives the sender's message.

Response is the reaction of the receiver after he receives the message.

Feedback is the message of the receiver to the sender.
Noise is the distorted or barriers in the communication process.



Question No: 53    ( Marks: 10 )
 Decision of the Pricing is very critical for marketers in today’s market, how would you explain this concept of Price and write alternate names that you can call the price? Are pricing for profit organization or for non-profit organization? Discuss it.

There are the following factors which are considerable when sitting a price.
Price are in different types, for example, tax, rate, fees, tuition, interest, fare, toll etc.
Internal factors: marketing objectives, marketing mix strategy, costs, organizational consideration.
External factors: nature of market and demand, competition, environmental factor i.e. economic and government. Both profit and non profit organization use pricing strategies.

Question No: 54    ( Marks: 10 )
 Mr. Danish is a marketing head of credit card department at bank UBL. He is interested in establishing a sales force to market the bank Visa card. What do you understand by the term “sales force” and what steps Mr. Danish will take to manage the sales force?

Sales force: sales force are those people who represent the company to the costumers and act as an intermediary linking costumers to the company.
Mr. Danish will first analyze the sales force. After that he will plan, implement and control the sales force. In alkalizing of sales force Danish will select the best sale force that are initiative, self confident and enthusiastic he will train his sales force according to the rules and regulation of the company. Compensation is also very important for sales force. By supervision Danish can motivates the sale force.
  

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