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Tuesday 21 December 2010

MGT301- Principles of Marketing Solved FinalTerm Paper Of VU

MIDTERM  EXAMINATION
Fall 2008
MGT301- Principles of Marketing (Session - 2)
Question No: 1    ( Marks: 1 )    - Please choose one
 If the company’s sales are slow down, and profits level off or decline. At which stage the company has reached?

       Introduction
       Decline
       Growth
       Maturity
   
Question No: 2    ( Marks: 1 )    - Please choose one
 A period of rapid market acceptance and increasing profits refers to which of the following stages of the product life cycle?

       Decline
       Maturity
       Introduction
       Growth
   
Question No: 3    ( Marks: 1 )    - Please choose one
 In which of the following product life cycle stages, sales are zero and the company’s investment costs mount?

       Product development
       Introduction
       Growth
       Maturity
   
Question No: 4    ( Marks: 1 )    - Please choose one
 Which one of the following groups is skeptical and adopts innovations only after most of the market has accepted the product?

       Innovators
       Late majority
       Early Adopter
       Early Majority
   
Question No: 5    ( Marks: 1 )    - Please choose one
 A review of the sales, costs and profit projections for a new product to find out whether they satisfy the company’s objectives refers to which one of the following concepts?

       Business feasibility
       Feasibility study
       Business analysis
       Product acceptance
   
Question No: 6    ( 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: 7    ( Marks: 1 )    - Please choose one
 Which one of the following categories refers to a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges?

       Product line
       Line extension
       Private brand
       Product bandwidth
   
Question No: 8    ( Marks: 1 )    - Please choose one
 Marketers need to position their brands clearly in target customers’ minds. The strongest brands go beyond attributes or benefit positioning. On which of the following basis the products are positioned?
       Desirable benefit
       Good packaging
       Strong beliefs and values
       Customer image

Question No: 9    ( Marks: 1 )    - Please choose one
 Which one of the following attribute may grab attention and produce pleasing aesthetics, but it does not necessarily make the product perform better?

       Design
       Style
       Variable
       Packaging
   
Question No: 10    ( Marks: 1 )    - Please choose one
 You have an upset stomach. Your spouse rushes to the corner convenience store for a medicine. This product falls under which of the following categories?
       Unsought
       Convenience
       Shopping
       Specialty
 
Question No: 11    ( Marks: 1 )    - Please choose one
 Product planners need to think about products and services on three levels. Each level adds more customer value. Which one of the following is the most basic level that addresses the question, “What is the buyer really buying?”

       Actual product
       Augmented product
       Core benefit
       Co-branding
   
Question No: 12    ( Marks: 1 )    - Please choose one
 Mass marketers, such as Target and Venture Stores, ignore market segment differences and target the whole market with one offer. What is their approach to segmenting?
       Undifferentiated marketing
       Differentiated marketing
       Target marketing
       Intelligent marketing
   
Question No: 13    ( Marks: 1 )    - Please choose one
 A marketer has brought same products in the market for all segments without considering the needs and wants of the customers. Which one of the following strategy is being practiced by the marketer?
       Undifferentiated marketing strategy
       Differentiated marketing strategy
       Concentrated marketing strategy
       Custom marketing strategy
   
Question No: 14    ( Marks: 1 )    - Please choose one
 Demographic segmentation divides the market into groups based on which of the following variables?
       Size, location, industry, customer
       Size, company, industry, technology
       Location, size, occupation, race
       Customer, technology, company, industry
   
Question No: 15    ( Marks: 1 )    - Please choose one
 Income segmentation is used to target which of the following groups?
       Affluent
       Middle class
       Lower income class
       All of the given options
   
Question No: 16    ( Marks: 1 )    - Please choose one
 When a company identifies the parts of the market it can serve best and most profitably. Which one of the following factor is in the practice of a company?

       Concentrated marketing
       Mass marketing
       Targeted marketing
       Market segmentation
   
Question No: 17    ( Marks: 1 )    - Please choose one
 Which of the following demands that business markets have more?

       Derived demands
       Steady demands
       Fluctuating
       Competitive
   
Question No: 18    ( Marks: 1 )    - Please choose one
 The mental act, condition or habit of placing trust or confidence in another shows which of the following options?

       Motive
       Belief
       Behavior
       Attitude
   
Question No: 19    ( Marks: 1 )    - Please choose one
 People are expected to perform activities according to the persons around them. These activities reflect which one of the following concept?


       Motive
       Role
       Lifestyle
       Tradition
   
Question No: 20    ( Marks: 1 )    - Please choose one
 How do consumers respond to various marketing efforts the company might use? What is a starting point of a buyer’s behavior?

       Belief
       Subculture
       Post purchase feeling
       Stimulus-response Model
   
Question No: 21    ( 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: 22    ( Marks: 1 )    - Please choose one
 General Motors need to assess the company's image relative to a new competitor. The time schedule is flexible, the research budget is very limited and a low response rate will not be a major problem. Which one of the following survey would be used by General Motors?

       Mail
       Telephone
       Personal interview
       Population
   
Question No: 23    ( Marks: 1 )    - Please choose one
 If Proctor and Gamble need to know what percentage of customers examines product labels before making a product selection in the supermarket? By which method this study would be accomplished?
       Focus groups
       Mail surveys
       Personal interviews      
       Observations
   
Question No: 24    ( 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: 25    ( Marks: 1 )    - Please choose one
 Harvard University is using the systematic design, collection, analysis, and reporting of data relevant to marketing its programs to minority students. What do we call this?

       Promotion
       Self-study
       Marketing research
       Cost-benefit analysis
   
Question No: 26    ( 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: 27    ( 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: 28    ( Marks: 1 )    - Please choose one
 Beliefs and values that are passed on from parents to children and are reinforced by schools, churches, business and government refer to which of the following beliefs and values?

       Crucial
       Core
       Secondary
       Primary
   
Question No: 29    ( 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: 30    ( Marks: 1 )    - Please choose one
 Finance, research and development, purchasing and manufacturing are all activities of which element of the microenvironment?

       The suppliers
       The competitors
       The companies
       The publics
   
Question No: 31    ( Marks: 1 )    - Please choose one
 Which one of the following is NOT a content of marketing plan?

       Objectives
       Control
       Budget
       Production
  
Question No: 32    ( Marks: 1 )    - Please choose one
 Some banks have increased their market share by offering accounts especially for children in another city. This example illustrates which of the following growth strategies?
       Market penetration
       Market development
       Horizontal diversification
       Conglomerate diversification
   
Question No: 33    ( Marks: 1 )    - Please choose one
 Three main strategies for intensive growth are market penetration, product development and the other one?

       Product improvement
       Market saturation
       Market growth
       Market development
   
Question No: 34    ( Marks: 1 )    - Please choose one
 “Planning that involves developing a strategy to meet competition and ensure long-term survival and growth” represents which one of the following planning type?

       Long-range planning
       Short-range planning
       Annual planning
       Strategic planning
 
Question No: 35    ( 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: 36    ( 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: 37    ( Marks: 1 )    - Please choose one
 When a church targets different demographic groups to increase attendance, it is an example of which of the following options?

       Mindless marketing
       Ethics in marketing
       Societal marketing
       Not-for-profit marketing
   
Question No: 38    ( Marks: 1 )    - Please choose one
 If a food company gives 5 percent discount in particular burger to increase sales, it is altering which one of the following elements of the marketing mix?
       Promotion
       Price
       Product
       Place
   
Question No: 39    ( Marks: 1 )    - Please choose one
 An automobile manufacturing company places steel beams in the doors of its cars for which of the following purposes?
       Increase short run customer satisfaction
       Increase long run customer satisfaction
       Add style to its cars
       Reduce the possibility of accidents
 
Question No: 40    ( Marks: 1 )    - Please choose one
 Identify the name for the recent technology advances including wide use of the Internet?
       An old economy
       Transformation
       A new world.
       The digital age
   
Question No: 41    ( Marks: 10 )
 A marketer plays an important role in increasing the sales of an organization. What guiding principles did he follow to become a successful marketer and which skills he needed?

ANSWER:
  • He should satisfy the customers' need with quality product, competitive price and satisfaction on the company's brand.
  • He should meet the market demand by supplying sufficient quantity of his products as, when and where demanded.
  • He should use the modern techniques of promotion of his product or service to convince the mind of customers.
  • He should provide good after sale services to further satisfy the customers. Feedback from the market and take remedial measures to improve the quality of product, packaging and labeling should also be improved.
  • He will have good market survey to ensure the improvement of his product and competitive price.    

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