Marketing Management 2

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Objective Questions and Answers of MBA: Marketing Management 2

Subject: Objective Questions and Answers of MBA: Marketing Management 2

Part 2: Objective questions and answers of Marketing Management

 

Q1. Which of the following statements is correct?

a) Marketing is the term used to refer only to the sales function within a firm

b) Marketing managers usually don’t get involved in production or distribution decisions

c) Marketing is an activity that considers only the needs of the organization, not the needs of society as a whole

d) Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

 

Q2. Marketing decision makers in a firm must constantly monitor competitors’ activitiestheir products, prices, distribution, and promotional efforts-because

a) The competitors may be violating the law and can be reported to the authorities

b) The actions of competitors may threaten the monopoly position of the firm in its industry

c) The actions of competitors may create an oligopoly within an industry

d) 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

 

Q3. ______________ is the collection and interpretation of information about forces, events, and relationships that may affect the organization.

a) Environmental scanning

b) Stakeholder analysis

c) Market sampling

d) Opportunity analysis

 

Q4. Which of the following is typically not a result of recognizing the importance of ethnic groups by marketers?

a) Use of an undifferentiated one-size-fits-all marketing strategy

b) Different pricing strategies for different groups

c) Variations in product offerings to suit the wants of a particular group

d) Study of ethnic buying habits to isolate market segments

 

Q5. 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

b) Hold

c) Harvest

d) Divest

 

Q6. 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) Optional-product pricing

b) Captive-product pricing

c) By-product pricing

d) Product line pricing

 

Q7. ______________ 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) The promotion mix

b) Integrated international affairs

c) Integrated marketing communications

d) Integrated demand characteristics

 

Q8. The term marketing refers to:

a) New product concepts and improvements

b) Advertising and promotion activities

c) A philosophy that stresses customer value and satisfaction

d) Planning sales campaigns

 

Q9. The term “marketing mix” describes:

a) A composite analysis of all environmental factors inside and outside the firm

b) A series of business decisions that aid in selling a product

c) The relationship between a firm’s marketing strengths and its business weaknesses

d) A blending of four strategic elements to satisfy specific target markets

 

Q10. Newsletters, catalogues, and invitations to organization-sponsored events are most closely associated with the marketing mix activity of—

a) Pricing

b) Distribution

c) Product development

d) Promotion

 

Q11. 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) The culture

b) Marketing

c) Technology

d) Competitive environment

 

Q12. The strategic marketing planning process begins with ______________

a) The writing of the mission statement

b) The establishment of organizational objectives

c) The formulation of a marketing plan

d) Hiring a senior planner

 

Q13. A marketing philosophy summarized by the phrase “a good product will sell itself” is characteristic of the ______________ period.

a) Production

b) Sales

c) Marketing

d) Relationship

 

Q14. Today’s marketers need ______________

a) Neither creativity nor critical thinking skills

b) Both creativity and critical thinking skills

c) Critical thinking skills but not creativity

d) Creativity but not critical thinking skills

 

Q15. When producers, wholesalers, and retailers act as a unified system, they comprise a ______________

a) Conventional marketing system.

b) Power-based marketing system.

c) Horizontal marketing system.

d) Vertical marketing system.

 

Q16. Diversification is best described as which of the following?

a) Existing products in new markets

b) Existing products in existing markets

c) New products for new markets

d) New products for existing markets

 

Q17. ______________ is a strategy of using a successful brand name to launch a new or modified product in a new category.

a) Duo-branding

b) Line extension

c) Brand extension

d) Multi-branding

 

Q18. ______________ is a critical success factor of products at project level which is indicated by a differentiated product with unique customer benefits.

a) Solid up front homework

b) High quality marketing activities

c) Sharp early product definition

d) Product superiority

 

Q19. Company a fixes its marketing communication budget by observing the budget set by company b. This is an example of establishing budget by:

a) Affordable method

b) Percentage of sales method

c) Competitive parity method

d) Objective and task method

 

Q20. Typically profit is negative in which stage of the product life cycle?

a) Growth

b) Maturity

c) Introduction

d) Decline

 

Part 2: Objective questions and answers of Marketing Management

 

Q1. Answer d

 

Q2. Answer d

 

Q3. Answer a

 

Q4. Answer a

 

Q5. Answer a

 

Q6. Answer d

 

Q7. Answer c

 

Q8. Answer c

 

Q9. Answer d

 

Q10. Answer d

 

Q11. Answer b

 

Q12. Answer a

 

Q13. Answer a

 

Q14. Answer b

 

Q15. Answer d

 

Q16. Answer c

 

Q17. Answer c

 

Q18. Answer d

 

Q19. Answer c

 

Q20. Answer c

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