Marketing Multiple Choice Questions
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Questions and Answers

What is the aim of marketing?

  • Sales revenue
  • Customer satisfaction (correct)
  • Product distribution
  • Profit earning

    • Which of the following adds value to the product?

  • Market
  • Customers
  • Product (correct)
  • Sales

    • What type of goods are convenience goods?

  • Consumer goods (correct)
  • Intangible goods
  • Industrial goods
  • Productive goods

    • Who is the author of the book 'Marketing Myopia'?

    <p>PF Drucker</p> Signup and view all the answers

    What does the abbreviation '4P' stand for in marketing?

    <p>Product, Price, Place, Promotion</p> Signup and view all the answers

    Which factor is not very significant for price fixation of a product?

    <p>Shape of product</p> Signup and view all the answers

    What is the aim of advertisement according to the text?

    <p>Product promotion</p> Signup and view all the answers

    What is the modern marketing concept oriented towards?

    <p>Society</p> Signup and view all the answers

    Which aspect is emphasized in society-oriented marketing concept?

    <p>All of these</p> Signup and view all the answers

    According to PF Drucker, what is the main objective of business?

    <p>Creation of customers</p> Signup and view all the answers

    What is used in naming or branding of a product according to the text?

    <p>Name</p> Signup and view all the answers

    Which of the following is not a limitation of advertising according to the text?

    <p>Increased product price</p> Signup and view all the answers

    What is not an element of marketing mix according to the text?

    <p>Buyer.</p> Signup and view all the answers

    Who is the middleman in two layered channels of distribution according to the text?

    <p>Wholesaler.</p> Signup and view all the answers

    Who introduced the concept of Marketing Mix first according to the text?

    <p>Philip Kotler.</p> Signup and view all the answers

    Study Notes

    Marketing Fundamentals

    • The aim of marketing is to identify and meet human and social needs.
    • Adding value to a product involves creating utility, such as form, time, place, and possession utility.

    Types of Goods

    • Convenience goods are those that are easily accessible and frequently purchased.

    Key Concepts and Authors

    • The book 'Marketing Myopia' was written by Theodore Levitt.

    Marketing Mix

    • The abbreviation '4P' stands for Product, Price, Place, and Promotion.
    • The 4Ps are used to create a unique marketing mix to meet customer needs.

    Pricing

    • Factors that are not very significant for price fixation of a product include marginal cost.

    Advertising

    • The aim of advertisement is to inform, persuade, and remind customers about a product.
    • A limitation of advertising is that it may not be able to reach all customers.

    Marketing Concepts

    • The modern marketing concept is oriented towards creating customer satisfaction.
    • The society-oriented marketing concept emphasizes the well-being of society.
    • According to PF Drucker, the main objective of business is to create a customer.

    Branding and Naming

    • A brand name is used in naming or branding of a product.

    Marketing Limitations

    • Wastage of resources is not a limitation of advertising.

    Marketing Mix Elements

    • The elements of marketing mix are Product, Price, Place, and Promotion; therefore, Customer is not an element of marketing mix.

    Distribution Channels

    • In two-layered channels of distribution, the wholesaler is the middleman.

    Marketing Pioneers

    • Neil Borden introduced the concept of Marketing Mix first.

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    Test your knowledge of marketing with these multiple choice questions. Explore various aspects of marketing objectives, strategies, and more.

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