Marketing Test

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Marketing Test - 54

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Weekly Quiz Competition

Question 1
1 / -0

For promoting sales, advertising endeavors may be made as per which of the following?
I. Competitive parity
II. Objective and task
III. Tied sales
IV. All-one-can-Afford

A
I and II only

B
II, III and IV only

C
I, II and IV only

D
III and IV only
Question 2
1 / -0

Which of the following is used for achieving short-term sales?

A
Personal selling

B
Advertising

C
Sales promotion

D
Public relations

Solution

All of the above mentioned marketing tools are the elements of promotional mix. Sales promotion is a pull marketing technique. It is done by providing various offers and discounts to the customers. The company can also motivate dealers and distributors of the distribution channel by offering commission, gifts, etc.
Question 3
1 / -0

Which of the following concepts is based on development, design and implementation of marketing programmes, processes and activities that recognize their breadth and interdependence?

A
Product concept

B
Sales concept

C
Societal marketing concept

D
Holistic marketing concept

Solution

Holistic philosophy is characterized by the belief that the parts of something are intimately interconnected and explicable only by reference to the whole. Holistic marketing considers business and all its parts as one single entity and gives a shared purpose to every activity and person related to that business.
Question 4
1 / -0

'Intensive distribution method' is referred to ______.

A
minimum expansion

B
maximum expansion

C
minimum contraction

D
maximum contraction
Question 5
1 / -0

Which of the following is considered appropriate for cost-plus pricing?
I. Product Tailoring
II. Public Utility Pricing
III. Refusal Pricing
IV. Monopoly Pricing

A
I and II only

B
I, II and III only

C
II, III and IV only

D
III and IV only
Solution
- Cost plus pricing a a cost based method of setting prices for goods and services.
- Product Tailoring - Product tailoring refers to altering the offered product to cut down the cost of manufacturing the product and hence altering the cost.
- Public Utility Pricing- this refers to manufacturing a homogeneous product with a monthly fixed cost and a constant marginal cost.
- Refusal Pricing- Refusal pricing refers to the price or discount offered to a customer who has first refused to buy the company's product.
Question 6
1 / -0

Which of the following is not a method of segmenting a market?

A
Behavioural segmentation

B
Psychograpic segmentation

C
Benefits segmentation

D
Customer segmentation
Solution
Market segmentation refers to dividing a vast market or consumers. It is carried out to select the best suitable market for the product or service offered by a company.
The most common forms of market segmentation are-behavioral segmentation which divides the market based on the consumer's behaviour, usage pattern and buying pattern.
Physchographic segmentation uses the people' lifestyle, activities and interests as a bases of segmentation.
Benefits segmentation refers to dividing the market based on the advantage or benefit the consumers perceive that they obtain from the product.
Question 7
1 / -0

The concept of marketing-mix, consisting of the $$4\ P's$$ of marketing, was developed by _________.

A
E. Jerome McCarthy

B
Peter F. Drucker

C
Philip Kotler

D
William J. Stonton

Solution

Marketing mix is a combination of factors that are in a company's control to influence consumers to purchase its products. E. Jerome McCarthy was an American marketing professor and proposed the concept of 4P's of Marketing in 1960 in his book 'Basic Marketing'.
Question 8
1 / -0

Select the phases of Product Life Cycle:
$$1.$$ Initiation $$2.$$ Decline $$3.$$ Boom $$4.$$ Introduction $$5.$$ Maturity $$6.$$ Growth.

A
$$1, 3, 5, 6$$

B
$$1, 2, 3, 4$$

C
$$4, 6, 5, 2$$

D
$$2, 3, 5, 6$$
Solution
The sequence of stages that a new product goes through is known as product life cycle.
The introduction stage is where the product is introduced in the market.
Growth is the stage where the product's sales and popularity increases.
Maturity is the stage where the product's sale decreases or diminishes and there appears a competition with similar products.
Decline stage is where the company has to make a decision as to continue with the product by adding new features or pulling the product out of the market.
Question 9
1 / -0

Arrange them in the correct sequence.
i. Pricing objectives
ii. Pricing methods
iii. Pricing strategies
iv. Pricing decisions

A
$$i, iii, ii, iv$$

B
$$i, iv, iii, iii$$

C
$$ii, i, iv, iii$$

D
$$iv, ii, iii, i$$
Solution
- Pricing objectives- In this step, the marketer decides the main objective of the company i.e to increase the profit or increase the sales and customer base.
- Pricing strategies- The pricing strategy and pricing tactics are decided and listed.
- Pricing methods- According to the objective of the company, the main pricing method is selected.
- Pricing decisions- The final pricing decision is made by the company after deciding the objectives, strategies and methods.
Question 10
1 / -0

Which segmentation approach is the most compatible with the spirit of the marketing concept?

A
Benefit sought

B
Income

C
Social class

D
Family size

Solution

Benefit sought is a segmentation approach which divides the market based upon the perceived value, benefit or advantage consumers perceive that they receive from a product or service. Benefit sought is the most compatible with the spirit of the marketing concept because it delivers the maximum customer satisfaction and makes a win win situation for the organization and consumers.

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Re-Attempt Weekly Quiz Competition

Marketing Test - 54

Result

Marketing Test - 54

Score

-

Rank

-

SHARING IS CARING

Question 1

I and II only

II, III and IV only

I, II and IV only

III and IV only

Question 2

Personal selling

Advertising

Sales promotion

Public relations

Solution

Question 3

Product concept

Sales concept

Societal marketing concept

Holistic marketing concept

Solution

Question 4

minimum expansion

maximum expansion

minimum contraction

maximum contraction

Question 5

I and II only

I, II and III only

II, III and IV only

III and IV only

Solution

Question 6

Behavioural segmentation

Psychograpic segmentation

Benefits segmentation

Customer segmentation

Solution

Question 7

E. Jerome McCarthy

Peter F. Drucker

Philip Kotler

William J. Stonton

Solution

Question 8

$$1, 3, 5, 6$$

$$1, 2, 3, 4$$

$$4, 6, 5, 2$$

$$2, 3, 5, 6$$

Solution

Question 9

$$i, iii, ii, iv$$

$$i, iv, iii, iii$$

$$ii, i, iv, iii$$

$$iv, ii, iii, i$$

Solution

Question 10

Benefit sought

Income

Social class

Family size

Solution

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