General Marketing Knowledge MCQs

1. Cognitive dissonance is a doubt that surfaces when a buyer becomes aware that an alternative product may offer more desirable benefits than the one purchased.

2. Individuals selected from the target market are asked to look through a magazine and recall advertisements they have seen. This is a test to see the effectiveness of advertising. What is it called?

3. Price Floor is a price imposed by law below which market prices are not permitted to fall.

4. What does the Latin phrase 'Caveat Emptor' mean?

5. How does a company differentiate the image acquired through the use of its logo and other symbols, its advertising and its atmosphere from that of its competitors?

6. Which strategy involves advertising tactics that intend to change its brand's image and relies on imagery and symbolism to achieve its objective?

7. The main purpose of the guaranteed price is to assure the traders to order items in subsequently large quantities.

8. Which monopolistic pricing technique is taking advantage of the absence of competition which a seller put to use to charge unusually high prices?

9. What is a delayed response by consumers to an advertising campaign called?

10. State which groups exhibits the following traits: It is tradition bound. It adopts innovative methods only when it takes on a measure of tradition itself.

11. Which type of general attack strategy involves matching the opponent in terms of product, price, promotion and distribution?

12. Which is more likely to occur when there is little significant difference between two products?

13. Which marketing strategy consists of launching a new product at a high price and a high promotional level?

14. A brand name used for a number of products in the same line is called.

15. Which pricing method involves estimating the price that customers would be willing to pay for a given product and then comparing it to the per unit cost to see if it meets the firm's profit objectives

16. Cannibalisation is the loss of _______ of a product to a new offering in the product line.

17. In which assortment strategy does a reseller decide to carry many variants of each product in the range?

18. The options to lease or purchase a product or to manufacture it internally sometimes faced by a manufacturing company, when considering the acquisition of a new product, is called.

19. Which term is used for describing the difference between the original selling price of an article and the price to which it is reduced in order to sell it?

20. Which Strategic Business Unit(SBU) is characterized by high market share and low market growth?

21. Which model assumes that the consumer evaluates product characteristics according to his priorities?

22. What is the marketing of 'environmentally friendly' products known as?

23. Fixing the price of a product in denominations like $7.95, $19.95 is referred to as.

24. In which type of marketing test are consumer goods tested in the market using a simulated store technique rather than an actual test market?

25. Which period in the Product Life Cycle is a period of rapid market acceptance and substantial profit improvement?

26. Which is models of brand valuation?

27. Which is the main characteristics of an adversarial shopper?

28. An arrangement of lines and spaces in a code form used to identify a product by style, size, price, quality, quantity etc. is known as_____.

29. Which function includes the assembling of a variety of products, storing them, sorting them into appropriate categories and sizes and arranging them on retail shelves?

30. Philip Kotler's Black Box Model is used to explain the hidden nature of.

31. Which type of assortment strategy is used by a news agency when it adds indoor plants and house wares to its range of newspapers, stationery and books?

32. A _______ is a rather narrowly defined group, typically a small market, whose needs are not being well served.

33. In which type of marketing does a company recognize that buyers differ in their wants, purchasing power, geographical locations, buying attitudes and buying habits?

34. In which cost-pricing approaches does a firm determine a price that would yield the target rate of return on investment(ROI)?

35. Market followers are firms that carve out a distinct niche for themselves, which had been left uncovered by the other firms in the industry.

36. Knock-offs is a term used to refer to new product innovations which are almost identical, look-alike copies of the competitors' best-selling items.

37. Reactive Marketing Control System is a system which allows changes to be made in the marketing objectives during a planning period, as well as in the performance to meet those objectives.

38. The accelerator principle states that ________ in consumer demand will affect several layers of demand in organizational markets.

39. ________ e-commerce is the online exchange between companies and individual consumers.

40. A ________ is a modification to an existing product.

41. A marketing channel helps to create ______ utility?

42. Companies who passively accept the marketing environment __________.

43. Customer-driven marketing is most effective when ________.

44. In the production system model, all of the following would be considered inputs except _____.

45. ________ variables segment markets in terms of shared activities, interests, and opinions.

46. Business markets are similar to consumer markets in that ________.

47. A ____ item is something that is purchased without much thought before the purchase.

48. A _____ brand refers to a brand name owned by a manufacturer or a producer.

49. A market position refers to ________.

50. The restaurant industry is characterized by a ________ barrier to entry.

51. For conducting an accurate test marketing, ----_____.

52. Buyers, sellers, investors, and community residents are all considered ________ in a company.

53. The third stage in the aida model is ________.

54. The primary function of marketing is to _______.

55. In the prospecting and qualifying step of the selling process, the salesperson __________.

56. ________ is a discomfort caused by postpurchase conflict.

57. _________ is not a characteristic important in influencing an innovation's rate of adoption.

58. __________ is not a marketing function.

59. __________ is the buyer’s decision about which brand to select.

60. __________ is the changes in an individual’s behavior arising from experience.

61. A ________ is a need that is sufficiently pressing to direct a person to seek satisfaction.

62. A corporate vms has the advantage of controlling the entire distribution chain under ________.

63. A(n) ________ is considered a marketing intermediary.

64. A(n) __________ reimburses a retailer for extra in-store support or special featuring of a brand.

65. Consistency of a product mix refers to the ________.

66. In a _________, the business-to-business buyer reorders something without modifications.

67. In a modified rebuy situation, __________ are likely to have an advantage in getting the order.

68. In the __________ stage, the consumer considers whether trying the new product makes sense.

69. Searching for information is the ___________ step in the business buying decision process.

70. The length of a channel is indicated by ___________.

71. The most effective sources of information about a product tend to be ________ sources.

72. _____ have the longest product life cycles.

73. The disadvantage of geographic sales orientation is that _____.

74. A monopoly has _____ seller(s), but perfect competition has _____ seller(s).

75. _____ is/are a source of information about potential customers for new salespeople.

76. ________ marketing is the marketing of goods and services from one organization to another.

77. A ____________ is a set of values, ideas and attitudes that are shared among members of a group.

78. A characteristic or quality of a product is referred to as a(n) _____.

79. A(n) _____ is a defined group that managers feel is most likely to buy a firm's product.

80. A(n) _____ is an intermediary who brings a buyer and a seller together.

81. A(n) _____ is where companies store and process data.

82. A(n) _______ is used in the shipment of products directly to customers.

83. A(n) ________ is usually a live broadcast of audio or video content.

84. All of the following are forms of utility created by marketing processes except ________.

85. Brands that are owned by ___________ are called private-label brands.

86. Channel members are also known as _____.

87. Demand for business products is also known as ____ demand.

88. Demand that is stable over time is called ____.

89. Diffusion refers to ________.

90. ________ are measures that marketers can use to watch the performance of their marketing efforts.

91. The ________ is essentially a projected profit-and-loss statement.

92. The ________ is the most fundamental part of the marketing mix.

93. The __________ group of people to adopt a new product is known as innovators.

94. The __________ occurs when unit cost drops as the quantity sold increases.

95. The __________ product is the physical good or delivered service that supplies the desired benefit.

96. The ability of an individual to distinguish between similar stimuli is called _____.

97. The business analysis for a new product begins with ________.

98. The business analysis stage of a new-product development process _____.

99. The buying decision process starts with ________, in which the buyer spots a problem.

100. The first element in the retailing mix is the _____.

101. The first part of a marketing strategy statement describes the ________ of a new product.

102. The first step in the strategic brand management process is ________.

103. The goal of marketing is to both __________ the needs of prospective customers.

104. The initial function of a marketing information system is ________.

105. The main activities of value chain members include all of the following except ________.

106. The major cultural values of a society are expressed by _________.

107. The majority of the brands marketed in the united states are _____ brands.

108. The marketing goal for a product in the growth stage of its product life cycle is to ________.

109. The marketing process captures value from customers by __________.

110. ________ are the most common price promotion.

111. Once an organization has developed its distribution objectives, it should next ________.

112. One key role marketing plays in a company's strategic planning is to __________.

113. One reason taco bell raised its prices was the result of an increase in _____.

114. Open innovation may enhance the __________ stage of the new-product process.

115. Operational excellence refers to companies that ________.

116. Regular users of yelp who search for reviews are likely to have a(n) __________.

117. Skimming pricing is considered to be a __________ approach to pricing.

118. Supervisory managers are charged with the planning in the __________ stage.

119. The _____ element of the marketing mix is the physical item or service that a company is selling.

120. The _____ is a companywide consumer orientation with the objective of achieving long-run success.

121. The _____ is the starting point in creating a marketing mix.

122. The _____ method is probably the oldest form of research in existence.

123. The _____ orientation assumes people will buy more if aggressive selling techniques are used.

124. The decision by shoe store owners to fix their prices will result in consumers paying _____ prices.

125. The practice of __________ is common among college students.

126. The purpose of profitability control is to ________.

127. The sum of fixed cost and variable cost represents __________.

128. Through the promotion element of the marketing mix, marketers attempt to _______ value.

129. To a producer of goods, a greater number of channel levels means ________.

130. To create successful new products, a company must _______.

131. Demand-based pricing most closely relates to the ____ of services.

132. A(n) __________ is a 13-digit code retailers can use to track inventory.

133. Services are usually distributed through _____ marketing channels.

134. Financing is one of the _____ functions of marketing.

135. Generation x is a group of consumers who __________.

136. Identifying and developing potential customers is an important aspect of ________.

137. In _______ many firms provide similar products that are considered substitutes for each other.

138. In a market with _______ there are many firms providing differentiated products.

139. Using consumers to develop and market products is known as _____.

140. Mcdonald's, subway, and jiffy lube are all examples of ________.

141. Monarchy, like _____, is a form of government ruled by one.