Mock

Question 1

______________ is the act of designing the company’s offering and image to occupy a distinctive place in the target market’s min

Answer 1

Positioning

Question 2

Assume you are in charge of the politically-mandated process of converting the economy of a developing African nation from state-controlled to market-driven business ventures. Your ability to control–––––– will most likely determine the future success of the country and its government.

Answer 2

Marketing

Question 3

The four Ps are characterized as being ______________

Answer 3

Product, place, price and promotion

Question 4

Newsletters, catalogues, and invitations to organization-sponsored events are most closely associated with the marketing mix activity of—

Answer 4

Promotion

Question 5

______________ helps to understand how consumers are influenced by their environment

Answer 5

Consumer Behaviour

Question 6

The flow of goods from production to consumption is known as ______________

Answer 6

Outbound Logistics

Question 7

there are __ elements of promotion mix

Answer 7

6

Question 8

Marketing decision makers in a firm must constantly monitor competitors’ activities-their products, prices, distribution, and promotional efforts-because

Answer 8

New product offerings by a competitor with the resulting competitive variations may require adjustments to one or more components of the firm’s marketing mix

Question 9

The marketing outcomes of a product is known as _____________

Answer 9

Brand Equity

Question 10

The use of price points for reference to different levels of quality for a company’s related products is typical of which product-mix pricing strategy?

Answer 10

Product Line Pricing

Question 11

______________ segmentation classifies consumers on the basis of age, sex, income and occupation

Answer 11

Demographic

Question 12

In ______________ segmentation, buyers are divided into different groups on the basis of life-systle into personality and values

Answer 12

Psychographic

Question 13

The emotional attachment of a customer towards a brand is known as ______________.

Answer 13

Brand Loyalty

Question 14

When companies make marketing decisions by considering consumers’ wants and the long-run interests of the company, consumer, and the general population, they are practicing which of the following principles?

Answer 14

Social Marketing

Question 15

The term “marketing mix” describes:

Answer 15

A blending of four strategic elements to satisfy specific target market

Question 16

Testing before launching a product is known as ______________

Answer 16

Test Marketing

Question 17

When looking at consumer income, marketers are most interested in

Answer 17

Discretionary income

Question 18

Being ______________ one cannot taste, touch, see, hear, smell or use services like physical products;

Answer 18

Intangible

Question 19

Marketing channel that involves no intermediaries to make their products available to final buyers is classified as

Answer 19

Direct Channel

Question 20

______________ is a critical success factor of products at project level which is indicated by a differentiated product with unique customer benefits.

Answer 20

Product superiority

Question 21

______________ is a process of identifying the areas of market that are different from one another.

Answer 21

Segmentation

Question 22

______________ motives are those which determine where or from whom products are purchased

Answer 22

Patronage

Question 23

The stage is the product life cycle that focuses on expanding market and creating product awareness and trial is the:

Answer 23

Introduction

Question 24

______________ is a strategy designed to cultivate customer loyalty, interaction and long-term association with the company

Answer 24

Relationship Marketing

Question 25

The ______________ holds that consumers will favour products that are available and highly affordable (therefore, work on improving production and distribution efficiency).

Answer 25

product concept

Question 26

The emotional attachment of a customer towards a brand is known as _____________

Answer 26

Brand Loyalty

Question 27

______________ is the collection and interpretation of information about forces, events, and relationships that may affect the organization

Answer 27

Environmental Scanning

Question 28

A marketing philosophy summarized by the phrase "a good product will sell itself" is characteristic of the ______________ period.

Answer 28

Production

Question 29

A marketing philosophy summarized by the phrase "a good product will sell itself" is characteristic of the ______________ period.

Answer 29

Brand Expansion

Question 30

Under ______________ marketing strategy, market segments are identified and a different marketing mix is developed for each of the segments

Answer 30

Differentiated

Question 31

In the ______________ stage , a product is well established in the market

Answer 31

Maturity

Question 32

______________ environment consists of the factors like inflation rate, interest rate and unemployment. Correct Answer:

Answer 32

Environment

Question 33

Typically profit is negative in which stage of the product life cycle?

Answer 33

Introduction

Question 34

Demographic segmentation refers to

Answer 34

The description of the people and the place in society

Question 35

______________ is the marketing and financial value associated with a brand's strength in a market.

Answer 35

Brand equity

Question 36

The process of introducing higher quality products by a manufacturer is called ______________

Answer 36

Trading Up

Question 37

The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is called ______________

Answer 37

Marketing Implementation

Question 38

The only revenue producing element in the marketing mix is

Answer 38

Price

Question 39

An imbalance between a consumer's actual and desired state in which recognition that a gap or problem needs resolving is called ______________

Answer 39

Motive development

Question 40

These objectives are often the most suitable when firms operate in a market dominated by a major competitor and where their financial resources are limited

Answer 40

Niche

Question 41

The process of finding and creating new uses or satisfactions for an existing product is known as ______________.

Answer 41

Re-marketing

Question 42

The strategic marketing planning process begins with ______________

Answer 42

The writing of the mission statement

Question 43

Industrial product are ______________ products

Answer 43

B2C

Question 44

Selecting the segments of a population of customers to serve is called ____________

Answer 44

Target marketing

Question 45

When producers, wholesalers, and retailers act as a unified system, they comprise a ______________

Answer 45

Vertical marketing system

Question 46

Political campaigns are generally examples of---

Answer 46

Person Marketing

Question 47

______________ is the marketing and financial value associated with a brand's strength in a market

Answer 47

Brand equity

Question 48

Company A fixes its marketing communication budget by observing the budget set by Company B. This is an example of establishing budget by:

Answer 48

Competitive parity method

Question 49

Early adopters of which opinion leaders are largely comprised of and tend to be _____________

Answer 49

More likely to buy new products before their friends do and voice their opinions about them

Question 50

The four Cs are ______________

Answer 50

Customer solution, cost, convenience and communication

Question 51

______________ is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products.

Answer 51

Integrated marketing communications

Question 52

Segmentation is the process of:

Answer 52

Dividing the market into homogenous group

Question 53

Ensuring the availability of the products and services as and when required by the customers is ______________ utility

Answer 53

Time

Question 54

Customers are showing greater price sensitivity in their search for ______________

Answer 54

Value