Marketing Management Fundamentals Quiz

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15 Questions

What is the basis for segmenting consumer markets?

Psychographic factors

Which marketing concept focuses on satisfying customer needs and wants while meeting organizational objectives?

Holistic marketing concept

Which approach is used for making product mix decisions?

Diversification

What is the strategic process of selecting a target market and developing a marketing mix to meet the needs of that market known as?

Targeting

What is the core marketing concept that focuses on meeting customer needs and wants?

Marketing concept

Which company orientation focuses on internal capabilities rather than on the desires and needs of the marketplace?

Production concept

What is the concept used to describe the stages a new product goes through from introduction to withdrawal from the market?

Product Life Cycle (PLC)

Which approach involves analyzing a firm's business portfolio and relative market share?

Boston Consulting Group (BCG) portfolio approach

Which strategy involves evaluating and selecting one or more segments to enter?

Targeting

What is the concept that integrates social, environmental, and ethical considerations into business decision-making?

Holistic marketing concept

Which marketing concept focuses on the internal capabilities of the company rather than the desires and needs of the marketplace?

Production concept

What is the strategic process of selecting a target market and developing a marketing mix to meet the needs of that market known as?

Targeting

Which approach involves analyzing a firm's business portfolio and relative market share?

Portfolio approach-Boston Consulting Group (BCG)

What is the concept used to describe the stages a new product goes through from introduction to withdrawal from the market?

Product Life Cycle (PLC)

Which company orientation focuses on satisfying customer needs and wants while meeting organizational objectives?

Marketing concept

Study Notes

Fundamentals of Marketing Management Syllabus

  • The syllabus covers two units, with the first unit focusing on the nature, scope, and importance of marketing, evolution of marketing, core marketing concepts, and company orientation. It also includes a portfolio approach by the Boston Consulting Group (BCG).
  • Unit I references include "Principles of Marketing: A South Asian Perspective" by Kotler, Armstrong, Agnihotri, and Haq, and "Marketing Management" by Kotler and Keller.
  • The second unit covers basis for segmenting consumer markets, targeting and positioning strategies, product decisions including the concept of Product Life Cycle (PLC), PLC marketing strategies, product classification, product line decision, product mix decision, branding decisions, and packaging & labeling.
  • The second unit also references "Prin" by Kotler, Armstrong, Agnihotri, and Haq.
  • The syllabus is designed by Dr. Aniruddh Sahai, Ph.D., in Commerce & Business Studies.
  • The syllabus is structured to be covered over a total of six weeks.
  • The syllabus is designed to provide a comprehensive understanding of marketing fundamentals and strategies.
  • The syllabus includes references to prominent marketing texts by renowned authors such as Kotler, Armstrong, Agnihotri, Keller, and Haq.
  • It emphasizes the importance of understanding consumer behavior, market segmentation, and product life cycle in making marketing decisions.
  • The syllabus aims to equip students with the necessary knowledge and skills to formulate effective marketing strategies and make informed marketing decisions.
  • The syllabus provides a theoretical foundation and practical insights into marketing, relevant for students pursuing studies in commerce and business.
  • The syllabus underscores the significance of holistic marketing concepts and the role of branding in marketing decisions.

Test your knowledge of fundamental marketing management concepts with this quiz based on the syllabus by Dr. Aniruddh Sahai. Explore topics such as the nature, scope, and importance of marketing, as well as the evolution of marketing concepts and the portfolio approach of the Boston Consulting Group (BCG).

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