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Marketing Principles > Mock > Flashcards

Mock Flashcards

1
Q

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

A

Positioning

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2
Q

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.

A

Marketing

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3
Q

The four Ps are characterized as being ______________

A

Product, place, price and promotion

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4
Q

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

A

Promotion

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5
Q

______________ helps to understand how consumers are influenced by their environment

A

Consumer Behaviour

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6
Q

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

A

Outbound Logistics

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7
Q

there are __ elements of promotion mix

A

6

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8
Q

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

A

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

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9
Q

The marketing outcomes of a product is known as _____________

A

Brand Equity

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10
Q

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?

A

Product Line Pricing

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11
Q

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

A

Demographic

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12
Q

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

A

Psychographic

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13
Q

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

A

Brand Loyalty

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14
Q

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?

A

Social Marketing

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15
Q

The term “marketing mix” describes:

A

A blending of four strategic elements to satisfy specific target market

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16
Q

Testing before launching a product is known as ______________

A

Test Marketing

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17
Q

When looking at consumer income, marketers are most interested in

A

Discretionary income

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18
Q

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

A

Intangible

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19
Q

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

A

Direct Channel

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20
Q

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

A

Product superiority

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21
Q

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

A

Segmentation

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22
Q

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

A

Patronage

23
Q

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

A

Introduction

24
Q

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

A

Relationship Marketing

25
Q

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

A

product concept

26
Q

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

A

Brand Loyalty

27
Q

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

A

Environmental Scanning

28
Q

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

A

Production

29
Q

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

A

Brand Expansion

30
Q

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

A

Differentiated

31
Q

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

A

Maturity

32
Q

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

Correct Answer:

A

Environment

33
Q

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

A

Introduction

34
Q

Demographic segmentation refers to

A

The description of the people and the place in society

35
Q

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

A

Brand equity

36
Q

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

A

Trading Up

37
Q

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

A

Marketing Implementation

38
Q

The only revenue producing element in the marketing mix is

A

Price

39
Q

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

A

Motive development

40
Q

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

A

Niche

41
Q

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

A

Re-marketing

42
Q

The strategic marketing planning process begins with ______________

A

The writing of the mission statement

43
Q

Industrial product are ______________ products

A

B2C

44
Q

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

A

Target marketing

45
Q

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

A

Vertical marketing system

46
Q

Political campaigns are generally examples of—

A

Person Marketing

47
Q

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

A

Brand equity

48
Q

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

A

Competitive parity method

49
Q

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

A

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

50
Q

The four Cs are ______________

A

Customer solution, cost, convenience and communication

51
Q

______________ 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.

A

Integrated marketing communications

52
Q

Segmentation is the process of:

A

Dividing the market into homogenous group

53
Q

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

A

Time

54
Q

Customers are showing greater price sensitivity in their search for ______________

A

Value

Marketing Principles (3 decks)

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