Basic Marketing Knowledge MCQ

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

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

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

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

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

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

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

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

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9. Services are usually distributed through _____ marketing channels.

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

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

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

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

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

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

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16. The purpose of profitability control is to ________.

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

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

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

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

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

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

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

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

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

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

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27. Operational excellence refers to companies that ________.

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

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

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

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

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32. ________ are the most common price promotion.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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53. Diffusion refers to ________.

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

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

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56. Channel members are also known as _____.

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

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

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

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

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

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

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

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

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

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

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

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

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

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70. _____ have the longest product life cycles.

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

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

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

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

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

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

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

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

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

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

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

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

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

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84. __________ is not a marketing function.

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

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86. ________ is a discomfort caused by postpurchase conflict.

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

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88. The primary function of marketing is to _______.

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

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

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

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

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93. A market position refers to ________.

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

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

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

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

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

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

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100. Companies who passively accept the marketing environment __________.

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101. A marketing channel helps to create ______ utility?

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

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

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104.

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

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105.

State whether True or false.
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.

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106.

State whether True or False.

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.

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107.

State whether True or False.

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

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108.

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

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109.

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

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110.

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

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111.

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?

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112.

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

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113.

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?

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114.

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_____.

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115.

Which of the following are the main characteristics of an adversarial shopper?

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116.

Which of the following are models of brand valuation?

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117.

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

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118.

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

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119.

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

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120.

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

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121.

Which model out of the following assumes that the consumer evaluates product characteristics according to his priorities?

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122.

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

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123.

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?

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124.

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.

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125.

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

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126.

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

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127.

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

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128.

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

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129.

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

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130.

Which of the following is more likely to occur when there is little significant difference between two products?

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131.

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

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132.

State which of the following groups exhibits the following traits:

It is tradition bound.
It adopts innovative methods only when it takes on a measure of tradition itself.

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133.

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

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134.

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

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135.

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

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136.

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

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137.

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?

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138.

What does the Latin phrase 'Caveat Emptor' mean?

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139.

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

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140.

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?

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141.

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.

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