MIDTERM EXAMINATION
Spring 2010
MGT301- Principles of Marketing (Session - 2)
Ref No:
Time: 60 min
Marks: 47
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| ExamDate: | 5/29/2010 12:00:00 AM |
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| Q No. | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | |
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| Q No. | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | |
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| Q No. | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | |
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| Q No. | 33 | 34 | 35 | 36 | 37 | | | | |
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Question No: 1 ( Marks: 1 ) - Please choose one
Which one of the following statements by a company chairman BEST reflects the marketing concept? ► We have organized our business to satisfy the customer needs
► We believe that marketing department must organize to sell what we produce
► We try to produce only high quality, technically efficient products
► We try to encourage company growth in the market
Question No: 2 ( 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: 3 ( Marks: 1 ) - Please choose one
Person’s pattern of living as expressed in his or her psychographics represents which one of the following concept? ► Personality
► Culture
► Lifestyle
► Motive
Question No: 4 ( Marks: 1 ) - Please choose one
Inelastic demand in industrial markets refers to which of the following situation? ► Demand for a given product fluctuates very little over time.
► Price increases or decreases will not significantly alter demand for a given product.
► The demand for one product depends heavily on the demand for another product.
► Supply for a given product cannot keep up with the demand for it.
Question No: 5 ( 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: 6 ( Marks: 1 ) - Please choose one
Which of the following are those products purchased for further processing or for use in conducting a business? ► Unsought products
► Specialty products
► Shopping products
► Industrial products
Question No: 7 ( Marks: 1 ) - Please choose one
Which one of the following factor indicates "the name, term, sign, symbol, design or a combination of these that differentiate the product of one seller or group of sellers from the other sellers"? ► Brand
► Package
► Label
► Style
Question No: 8 ( Marks: 1 ) - Please choose one
Customer service is another element of product strategy. The first step is to survey customers periodically to assess the value of current services and to obtain ideas for new ones. From this careful monitoring, marketer has learned that buyers are very upset by repairs that are not done correctly the first time. What is the name of these types of services? ► Brand equity services
► Product support services
► Social marketing services
► Unsought product services
Question No: 9 ( 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: 10 ( 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: 11 ( Marks: 1 ) - Please choose one
Identify the first step in a strategic planning process. ► Define the company's mission
► Develop the business portfolio
► Plan marketing strategies
► Set objectives and goals
Question No: 12 ( Marks: 1 ) - Please choose one
Buying goods and services for further processing or for use in the production process refers to which of the following markets? ► Consumer markets
► Government markets
► Business markets
► International markets
Question No: 13 ( Marks: 1 ) - Please choose one
Which one of the following sets represents 4 C’s of the marketing mix? ► Customer solution, cost, convenience, communication
► Customer, cost, convenience, comfort
► Convenience, communication, coverage, cost
► Cost, coverage, communication, consultancy
Question No: 14 ( Marks: 1 ) - Please choose one
The managers of a firm are providing all the facilities and assistance that a customer demands. As a result of their efforts the customers are satisfied and the firm is enjoying huge profits. The efforts of the manager are considered as part of: ► Customer Relationship Management
► Total Quality Management
► Supply chain Management
► Customer Acknowledgement
Question No: 15 ( Marks: 1 ) - Please choose one
MR.Y invested Rs.50000 in a fan manufacturing company. MR Y is a _____________ of the company. ► Stakeholder
► Stockholder
► Customer
► All of the given options
Question No: 16 ( Marks: 1 ) - Please choose one
Which one of the following option refers to “The art and science of choosing target markets and building profitable relationships?” ► Customer Relationship Management
► Knowledge Management
► Total Quality Management
► Marketing Management
Question No: 17 ( Marks: 1 ) - Please choose one
The selling concept is typically practiced for ________ goods. ► Convenience
► Shopping
► Specialty
► Unsought
Question No: 18 ( Marks: 1 ) - Please choose one
NAFTA is a trade agreement between: ► America , Canada and Mexico
► America , France and Canada
► Germany , Russia and America
► China , Pakistan and India
Question No: 19 ( Marks: 1 ) - Please choose one
What are the skills that a marketer should possess to successfully achieve the goals of an organization? ► Neither creativity nor critical thinking skills
► Both creativity and critical thinking skills
► Critical thinking skills but not creativity
► Creativity but not critical thinking
Question No: 20 ( Marks: 1 ) - Please choose one
What does this statement show “Trade of value between two parties”? ► Competition
► Transaction
► Agreement
► Need
Question No: 21 ( Marks: 1 ) - Please choose one
Marketing management functions in ascending order are: ► Control – implementation – market planning
► Market planning – control – implementation
► Implementation – control – market planning
► Marketing planning – implementation - control
Question No: 22 ( Marks: 1 ) - Please choose one
In a marketing plan analyzing and reviewing the product, competition, market and the distribution is included in: ► Threats and opportunity analysis
► Objectives and issues
► Marketing strategy
► Current marketing situation
Question No: 23 ( Marks: 1 ) - Please choose one
Neighborhood residents and community organizations comprise part of a firm’s: ► Local Publics
► General Publics
► Governmental Publics
► Financial Publics
Question No: 24 ( Marks: 1 ) - Please choose one
Why is the demographic environment a major interest to marketers? ► Because it involves global financing
► Because it involves people and people make up markets
► Because demographics involve diverse consumer products
► Because demographics focus on local marketing opportunities
Question No: 25 ( Marks: 1 ) - Please choose one
MIS activities begin and end with which of the following? ► Information Users
► Distributors
► Competitors
► Upper Management
Question No: 26 ( Marks: 1 ) - Please choose one
ABC Company wants to know why the demand of its product is declining. For this purpose the company should perform : ► Marketing research
► Product development
► Image development
► All of the given options
Question No: 27 ( Marks: 1 ) - Please choose one
Which of the following is NOT one of the problems typically associated with secondary data? ► It may not exist
► It might not be current
► It might not be impartial
► It is too expensive to obtain
Question No: 28 ( Marks: 1 ) - Please choose one
Which of the following statements regarding research is TRUE? ► Customers will generally gladly provide information to researchers if it would add value to the products
► Customers will generally give information when they are given compensation for their time
► Customers do not care about the value delivered by their participation in research studies
► All of the given options
Question No: 29 ( Marks: 1 ) - Please choose one
How is online marketing research conducted? ► By collecting primary data through internet surveys and online focus groups
► By collecting secondary data through the internet
► By collecting primary data through the secondary websites
► None of the given options
Question No: 30 ( Marks: 1 ) - Please choose one
An American fast food started its business in ► Cultural differences
► Lifestyle differences
► Beliefs and attitudes
► Social class
Question No: 31 ( Marks: 1 ) - Please choose one
A term that describes the tendency of people to interpret information in a way that will support what they already believe is called: ► Selective Attention
► Selective Retention
► Selective Distortion
► None of the given option
Question No: 32 ( Marks: 1 ) - Please choose one
When a company decides to go after a large share of one or a few smaller segment instead of going after a small share of a large market, the company is practicing: ► Mass marketing
► Segment marketing
► Niche marketing
► All of the given options
Question No: 33 ( Marks: 1 ) - Please choose one
When Sony TV extended its brand into new product categories including webcams, mobiles, DVD players, printers,etc. Sony was engaged in ________ ► Brand Extension
► Line Extensions
► Multi Brands
► New Brands
Question No: 34 ( Marks: 1 ) - Please choose one
At the __________ stage in the product life cycle, educating the market remains a goal, but now the company also needs to meet the competition. ► Growth
► Maturity
► Decline
► All of the given options
Question No: 35 ( Marks: 3 )
Briefly describe difference between labeling and packaging? Question No: 36 ( Marks: 5 )
Do you think that Marketing Decision Support System helps managers to make better marketing decision? If yes then how? Question No: 37 ( Marks: 5 )
Briefly explain the market coverage strategies? 
is there only one paper of mgt301 now? or im not able to see any other?
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