Marketing Test

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Marketing Test - 31

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Weekly Quiz Competition

Question 1
1 / -0

The offer curve shows

A
the exchange ratio between two commodities in terms of opportunity costs

B
the various quantities of its exportable commodity a country is willing to exchange for an importable commodity at various international prices

C
factor price = Marginal product of the factor

D
capital inflows

Solution

The offer curve shows the different quantities of a particular commodity demanded by one country from the other at the different relative prices of their products. ...
Question 2
1 / -0

The concept of four P's as elements of marketing mix was given by ________.

A
Philip Kotler

B
W.J. Stanton

C
E.J. McCarthy

D
Bruce J. Walker

Solution

The 4P's are the elements of marketing mix. E.J. McCarthy was an American marketing professor. He proposed the concept of 4P's of marketing mix 1960 book "Basic Marketing'. The 4P's of marketing mix are Product, Price, Promotion, Place.
Question 3
1 / -0

Which of the following pricing strategies are used when adopting a penetration pricing strategy?

A
Charging high price

B
Charging low price

C
Charging competitive price

D
None of the above

Solution

Penetration pricing strategy is a strategy where initially the prices are set low to rapidly reach a vast section of the market. This strategy initiates word of mouth and also attracts target consumers with the help of the low price set by the company. It gives the marketer a competitive advantage and also inceases the customer base of the company.
Question 4
1 / -0

Exchange concept of marketing deals with ________.

A
Exchange of products between sellers and buyers covering distribution and price aspects

B
Mere appendage to production

C
Achieving marketing success through product attributes

D
Aggressively promote and push the products

Solution

An exchange process is simply when an individual or an organisation decides to satisfy a need or want by offering goods or services in exchange of some monetary value.
Question 5
1 / -0

Who propounded Mega marketing?

A
Mc Aurthy

B
Philip Kotler

C
Sheth

D
Peter F Drucker

Solution

Mega marketing refers to marketing activities needed to manage the elements of the firm's external environment and which try to control the same. This environment consist of legal, political, social, technological factors.
Question 6
1 / -0

Which cost is taken into consideration for 'make or buy' decisions?

A
Prime cost

B
Total cost

C
Cost of Production

D
Relevant cost

Solution

Make or buy decision is the production decision made by the company i.e whether to buy the product or to manufacture the product. The cost of buying and manufacturing are both taking into consideration while making the decision. Hence, the cost of production is considered for 'make or buy' decision.
Question 7
1 / -0

The strategy of introducing a product with high introductory price is called _______.

A
penetration strategy

B
skimming strategy

C
pull strategy

D
push strategy

Solution

Skimming strategy is a pricing strategy. It is a strategy where the marketer sets a relatively high initial price of a product or services and then lower the prices over time. This pricing strategy is undertaken to target the niche market and to capture the consumer surplus early in the product life cycle in order to exploit a monopolistic position.
Question 8
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A product line strategy wherein a company adds a higher priced product to a line in order to attract a broader market which helps the sale of its existing lower priced products is called ________.

A
trading up

B
trading down

C
life cycle extension

D
product line extension

Solution

Trading up is a type of selling in which the customer is persuaded to buy a more expensive item, or a larger quantity of the same item than originally intended in exchange for an attractive discount or some other incentive.
Question 9
1 / -0

Match the items in List-I with items in List-II.
List-I List-II
a) Peter F Drucker i) Unity of command
b) Henry Fayol ii) Achievement Motivation
c) McCarthy iii) M.B.O.
d) Mc Clelland iv) $$4$$ Ps of marketing

A
(a)-(i), (b)-(ii), (c)-(iii), (d)-(iv)

B
(a)-(ii), (b)-(iii), (c)-(iv), (d)-(i)

C
(a)-(iv), (b)-(i), (c)-(ii), (d)-(iii)

D
(a)-(iii), (b)-(i), (c)-(iv), (d)-(ii)
Question 10
1 / -0

Which one of the following is not the mode of Direct Distribution System?

A
Trading mediators

B
Vending machines

C
Own sales depot

D
Franchise shops

Solution

Direct Distribution system is a mode of distribution where the manufacturer directly sells its product to the consumer without the involvement of middlemen and intermediaries. Trading mediators can be referred as wholesaler, retailer, distributors and agents. With the presence of trade mediators in the distribution channel, there is no direct contact between the company and the customer.

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Re-Attempt Weekly Quiz Competition

List-I	List-II
a) Peter F Drucker	i) Unity of command
b) Henry Fayol	ii) Achievement Motivation
c) McCarthy	iii) M.B.O.
d) Mc Clelland	iv) $$4$$ Ps of marketing

Marketing Test - 31

Result

Marketing Test - 31

Score

-

Rank

-

SHARING IS CARING

Question 1

the exchange ratio between two commodities in terms of opportunity costs

the various quantities of its exportable commodity a country is willing to exchange for an importable commodity at various international prices

factor price = Marginal product of the factor

capital inflows

Solution

Question 2

Philip Kotler

W.J. Stanton

E.J. McCarthy

Bruce J. Walker

Solution

Question 3

Charging high price

Charging low price

Charging competitive price

None of the above

Solution

Question 4

Exchange of products between sellers and buyers covering distribution and price aspects

Mere appendage to production

Achieving marketing success through product attributes

Aggressively promote and push the products

Solution

Question 5

Mc Aurthy

Philip Kotler

Sheth

Peter F Drucker

Solution

Question 6

Prime cost

Total cost

Cost of Production

Relevant cost

Solution

Question 7

penetration strategy

skimming strategy

pull strategy

push strategy

Solution

Question 8

trading up

trading down

life cycle extension

product line extension

Solution

Question 9

(a)-(i), (b)-(ii), (c)-(iii), (d)-(iv)

(a)-(ii), (b)-(iii), (c)-(iv), (d)-(i)

(a)-(iv), (b)-(i), (c)-(ii), (d)-(iii)

(a)-(iii), (b)-(i), (c)-(iv), (d)-(ii)

Question 10

Trading mediators

Vending machines

Own sales depot

Franchise shops

Solution

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