MM Questions PDF

Multiple Choice Questions 1. What is the primary purpose of marketing? - A\) To create products - B\) To satisfy customer needs and wants - C\) To generate profits - D\) To control market prices 2. Which of the following is NOT one of the four Ps of marketing? -...

Multiple Choice Questions 1. What is the primary purpose of marketing? - A\) To create products - B\) To satisfy customer needs and wants - C\) To generate profits - D\) To control market prices 2. Which of the following is NOT one of the four Ps of marketing? - A\) Product - B\) Price - C\) Promotion - D\) People 3. What does market segmentation involve? - A\) Creating a single marketing strategy for all consumers - B\) Dividing a market into distinct groups of buyers - C\) Increasing product prices - D\) Reducing advertising costs 4. The term \"target market\" refers to: - A\) All consumers in a geographic area - B\) The specific group of consumers a company aims to reach - C\) The total market for a product category - D\) The market share of a company 5. Which of the following is an example of demographic segmentation? - A\) Targeting consumers based on their lifestyle choices - B\) Segmenting by age and income levels - C\) Focusing on consumer behavior during holidays - D\) Tailoring products for seasonal use 6. What is the main focus of relationship marketing? - A\) Short-term sales promotions - B\) Building long-term relationships with customers - C\) Increasing product variety - D\) Reducing production costs 7. Which marketing strategy involves offering products at lower prices than competitors? - A\) Differentiation strategy - B\) Cost leadership strategy - C\) Focus strategy - D\) Niche strategy 8. What does the term \"brand equity\" refer to? - A\) The total sales generated by a brand - B\) The value added to a product by having a well-known brand name - C\) The cost of producing branded products - D\) The market share held by a brand 9. Which of the following is an example of psychographic segmentation? - A\) Segmenting based on age and gender - B\) Targeting consumers who value sustainability and eco-friendliness - C\) Focusing on geographic location - D\) Analyzing purchasing frequency 10. What is meant by \"customer lifetime value\" (CLV)? - A\) The total revenue generated from a customer over their lifetime - B\) The average purchase amount per transaction - C\) The total cost incurred to acquire a customer - D\) The time it takes to convert a lead into a customer 11. Which factor is NOT part of the marketing environment? - A\) Economic conditions - B\) Social trends - C\) Internal company policies - D\) Technological advancements 12. What does \"positioning\" refer to in marketing? - A\) How a product is priced in relation to competitors - B\) How a product is perceived in the minds of consumers - C\) The distribution channels used for a product - D\) The promotional strategies employed 13. Which type of research focuses on gathering data from customers directly? - A\) Secondary research - B\) Qualitative research - C\) Quantitative research - D\) Market analysis 14. What is the primary goal of advertising? - A\) To increase production efficiency - B\) To inform, persuade, and remind customers about products - C\) To reduce operational costs - D\) To develop new products 15. Which pricing strategy involves setting prices based on competitors\' prices? - A\) Cost-plus pricing - B\) Value-based pricing - C\) Competitive pricing - D\) Penetration pricing 16. What does \"market penetration\" mean? - A\) Increasing sales in existing markets with existing products - B\) Introducing new products into new markets - C\) Reducing prices to attract more customers - D\) Expanding into international markets 17. Which type of consumer behavior involves purchasing decisions based on emotions rather than logic? - A\) Rational buying behavior - B\) Impulsive buying behavior - C\) Informed buying behavior - D\) Habitual buying behavior 18. What is the purpose of SWOT analysis in marketing? - A\) To assess financial performance - B\) To evaluate strengths, weaknesses, opportunities, and threats - C\) To analyze competitors\' strategies - D\) To determine pricing strategies 19. Which promotional tool involves direct communication with potential customers through personal selling? - A\) Advertising - B\) Public relations - C\) Sales promotion - D\) Personal selling 20. What does \"digital marketing\" primarily focus on? - A\) Traditional advertising methods only - B\) Engaging customers through online platforms and social media - C\) In-store promotions and events - D\) Direct mail campaigns only 21. Which term describes the process of creating a unique image for a product in the consumer\'s mind?\ -- A. Branding\ -- B. Positioning\ -- C. Segmentation\ -- D. Targeting 22. What is \"value proposition\" in marketing terms?\ -- A. The price reduction offered to customers\ -- B. The unique benefits offered by a product or service\ -- C. The total cost incurred by customers\ -- D. The market share achieved by a brand 23. Which of the following best describes \"customer satisfaction\"?\ -- A. Meeting or exceeding customer expectations\ -- B. Offering low prices\ -- C. Providing extensive product features\ -- D. Ensuring quick delivery 24. What does \"market share\" represent?\ -- A. Total sales generated by an industry\ -- B. Percentage of an industry\'s sales attributed to one company\ -- C. Total number of customers in a market\ -- D. Total profit earned by all companies in an industry 25. Which type of marketing strategy focuses on reaching specific segments within larger markets?\ -- A. Mass marketing\ -- B. Differentiated marketing\ -- C. Undifferentiated marketing\ -- D. Niche marketing 26. In which stage of the product life cycle do sales begin to decline?\ -- A. Introduction stage\ -- B. Growth stage\ -- C. Maturity stage\ -- D. Decline stage 27. What is \"brand loyalty\"?\ -- A. Consumers\' preference for multiple brands\ -- B. Consumers\' commitment to repurchase or continue using a brand\ -- C. Consumers\' awareness of various brands\ -- D. Consumers\' tendency to switch brands frequently 28. Which channel involves direct communication between businesses and consumers?\ -- A. Distribution channel\ -- B. Communication channel\ -- C. Service channel\ -- D. Retail channel 29. What does \"consumer behavior\" study?\ -- A. How businesses operate internally\ -- B. How consumers make purchasing decisions\ -- C. How competitors price their products\ -- D. How suppliers manage inventory 30. What is the main objective of public relations?\ -- A: Generate immediate sales\ -- B: Build and maintain a positive image\ -- C: Reduce advertising costs\ -- D: Increase production efficiency 31-60: \[Continue similarly structured questions focusing on various aspects such as consumer behavior, digital marketing, branding strategies, ethical considerations in marketing, etc.\] Answer Sheet 1: B2: D3: B4: B5: B6: B7: B8: B9: B10: A11: C12: B13: B14: B15: C16: A17: B18: B19: D20: B21: B22: B23: A24: B25: D26: D27: B28: B29: B30: B Continuation of Marketing Management BM2207 Exam ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 31. What is the primary goal of a marketing plan? - A\) To increase production efficiency - B\) To outline advertising strategies - C\) To identify target markets and develop strategies to reach them - D\) To reduce operational costs 32. Which of the following best describes \"customer relationship management\" (CRM)? - A\) A strategy to increase product prices - B\) A system for managing a company's interactions with current and potential customers - C\) A method for reducing marketing expenses - D\) A way to streamline supply chain operations 33. What is \"experiential marketing\"? - A\) Marketing that focuses solely on product features - B\) Creating memorable experiences for customers to engage with a brand - C\) Marketing that relies on traditional advertising methods - D\) A strategy that targets only online consumers 34. Which of the following is an example of a \"pull\" marketing strategy? - A\) Direct selling to consumers - B\) Trade promotions to retailers - C\) Creating demand through advertising and promotions aimed at consumers - D\) Offering discounts to wholesalers 35. What does \"content marketing\" primarily focus on? - A\) Selling products directly through advertisements - B\) Creating valuable content to attract and engage a target audience - C\) Reducing the cost of goods sold - D\) Increasing the number of sales representatives 36. Which of the following is NOT a characteristic of services? - A\) Intangibility - B\) Perishability - C\) Variability - D\) Inventory 37. What is \"market positioning\"? - A\) The process of identifying competitors in the market - B\) The strategy used to create a specific image of a product in consumers\' minds - C\) The pricing strategy used for new products - D\) The method of segmenting the market 38. Which of the following factors can influence consumer buying behavior? - A\) Cultural factors only - B\) Social factors only - C\) Psychological factors only - D\) All of the above 39. What is \"brand extension\"? - A\) Launching a new product line under an existing brand name - B\) Creating a new brand for a new product - C\) Reducing the price of an existing product - D\) Discontinuing an underperforming product 40. Which pricing strategy involves setting prices low to gain market share quickly? - A\) Price skimming - B\) Penetration pricing - C\) Premium pricing - D\) Psychological pricing 41. What does \"social media marketing\" focus on? - A\) Traditional advertising methods - B\) Engaging with customers through social media platforms - C\) Reducing marketing costs - D\) Increasing in-store promotions 42. Which term describes the practice of collecting and analyzing customer data to improve marketing efforts? - A\) Market segmentation - B\) Data mining - C\) Brand management - D\) Product positioning 43. What is meant by \"customer engagement\" in marketing? - A\) The process of acquiring new customers only - B\) Building strong relationships with existing customers through interaction - C\) Reducing customer service costs - D\) Increasing product prices 44. Which of the following is a benefit of digital marketing over traditional marketing? - A\) Higher costs - B\) Limited reach - C\) Real-time performance tracking - D\) Less consumer interaction 45. What does \"niche marketing\" involve? - A\) Targeting a broad audience with generic products - B\) Focusing on a specific, well-defined segment of the market - C\) Competing on price alone - D\) Offering multiple unrelated products 46. Which factor is NOT typically included in a SWOT analysis? - A\) Strengths - B\) Weaknesses - C\) Opportunities - D\) Competitor analysis 47. What is \"targeting\" in marketing? - A\) Identifying potential competitors in the market - B\) Selecting specific segments to focus marketing efforts on - C\) Setting prices for products based on competitor pricing - D\) Developing new products for all market segments 48. Which type of advertising focuses on building brand awareness rather than immediate sales? - A\) Direct response advertising\ -- B: Institutional advertising\ -- C: Informative advertising\ -- D: Persuasive advertising 49. What does \"product differentiation\" aim to achieve?\ -- A: Lower production costs\ -- B: Unique features that set a product apart from competitors\ -- C: Increased production volume\ -- D: Reduced marketing expenses 50. In which stage of the buying process do consumers evaluate alternatives?\ -- A: Problem recognition\ -- B: Information search\ -- C: Evaluation of alternatives\ -- D: Purchase decision 51. What is meant by \"service recovery\" in customer service?\ -- A: Reducing service costs\ -- B: Improving service delivery processes\ -- C: Actions taken to rectify a service failure and retain customers\ -- D: Offering discounts to dissatisfied customers 52. Which type of consumer behavior reflects habitual purchasing decisions?\ -- A: Complex buying behavior\ -- B: Variety-seeking buying behavior\ -- C: Dissonance-reducing buying behavior\ -- D: Routine response behavior 53. What does \"viral marketing\" rely on?\ -- A: Traditional media channels\ -- B: Word-of-mouth and social sharing among consumers\ -- C: Direct sales approaches\ -- D: Exclusive promotions 54. Which term describes the practice of adjusting marketing strategies based on consumer feedback and data analytics?\ -- A: Market segmentation\ -- B: Agile marketing\ -- C: Brand positioning\ -- D: Target market analysis 55. What is \"customer churn\"?\ -- A: The rate at which customers return products\ -- B: The loss of customers over time\ -- C: The increase in customer acquisition costs\ -- D; The growth in customer loyalty 56. In what way can technology enhance customer experience in marketing?\ -- A: By reducing interaction with customers\ -- B: By providing personalized recommendations based on data analysis\ -- C: By limiting access to information about products\ -- D; By increasing wait times for customer service 57. What does \"green marketing\" focus on?\ -- A: Promoting environmentally friendly products and practices\ -- B: Reducing production costs through sustainable practices\ -- C; Marketing exclusively to eco-conscious consumers\ -- D; Increasing prices for sustainable products 58. Which term refers to the overall perception consumers have about a brand based on their experiences and interactions?\ -- A; Brand equity\ -- B; Brand loyalty\ -- C; Brand image\ -- D; Brand awareness 59. What is meant by \"cross-promotion\" in marketing strategies?\ -- A; Promoting multiple brands under one umbrella\ -- B; Collaborating with another brand to promote each other's products\ -- C; Offering discounts across different product lines\ -- D; Focusing solely on digital advertising 60. How can marketers effectively measure campaign success?\ -- A; By analyzing sales data only\ -- B; By tracking customer engagement metrics and conversion rates\ -- C; By relying on anecdotal evidence\ -- D; By comparing against competitors' performance Answer Sheet ### 31: C32: B33: B34: C35: B36: D37: B38: D39: A40: B41: B42: B43: B44: C45: B46: D47: B48: B49: B50: C51: C52: D53: B54: B55: B56: B57: A58: C59: B60: B Marketing Management BM2207 - Preliminary Exam #### I. MULTIPLE CHOICE (50 points) *Choose the best answer for each question.* **1.** Which of the following best defines marketing according to Dr. Philip Kotler?\ a) The process of promoting products to consumers.\ b) A social and managerial process where individuals and groups obtain what they need and want through creating and exchanging value with others.\ c) The sale of products to the highest bidder.\ d) The act of buying and selling goods online. **2.** What is the most important reason for marketers to understand new consumer capabilities in the modern world?\ a) Consumers now have more access to alternatives.\ b) Products are cheaper online.\ c) Marketing campaigns are easier to create.\ d) Social media platforms are less effective for marketing. **3.** Which of the following is NOT one of the main categories marketed by companies?\ a) Goods\ b) Services\ c) Experiences\ d) Governments **4.** The marketing mix traditionally consists of four Ps. Which of the following is NOT one of these Ps?\ a) Product\ b) Price\ c) People\ d) Place **5.** According to Kotler and Keller, which of the following is a key role of marketing?\ a) Building supply chain channels\ b) Reducing product costs\ c) Building demand for products and services\ d) Manufacturing products **6.** Which of the following statements best describes 'full demand'?\ a) Consumers dislike the product and may pay to avoid it.\ b) Consumers buy all products put into the marketplace.\ c) Consumers do not want the product and show no interest in it.\ d) Consumers show irregular demand for the product. **7.** What is meant by the term 'latent demand'?\ a) Consumers dislike the product and pay to avoid it.\ b) Consumers share a strong need that cannot be satisfied by existing products.\ c) Consumers are unaware of or uninterested in the product.\ d) Consumers are fully satisfied with the product offered. **8.** In behavioral segmentation, buyers are divided into groups based on:\ a) Income\ b) Education level\ c) Knowledge of, attitude toward, use, or response to a product\ d) Nationality **9.** Which of the following is a social factor influencing consumer behavior?\ a) Culture\ b) Subculture\ c) Social class\ d) Reference groups **10.** What is meant by 'derived demand' in business markets?\ a) Demand that is derived from the desire of individual consumers.\ b) Demand that fluctuates based on seasons.\ c) Demand for business goods based on the demand for consumer goods.\ d) Demand based on future sales projections. **11.** What is the key difference between Business-to-Business (B2B) and Business-to-Consumer (B2C) marketing?\ a) B2B marketing involves fewer professional buyers, while B2C marketing has more emotional purchases.\ b) B2B marketing involves personal relationships, while B2C marketing is digital.\ c) B2B marketing deals with companies selling to businesses, while B2C marketing deals with companies selling directly to consumers.\ d) B2B marketing involves smaller deals, while B2C marketing involves larger deals. **12.** What type of segmentation focuses on dividing the market by geographical units such as nations, cities, or neighborhoods?\ a) Behavioral segmentation\ b) Demographic segmentation\ c) Psychographic segmentation\ d) Geographic segmentation **13.** Which of the following is a component of the "Customer Value Triad"?\ a) Price, service, and branding\ b) Quality, service, and price\ c) Branding, promotion, and communication\ d) Design, usability, and price **14.** When a consumer is satisfied with a product because it exceeds their expectations, this is known as:\ a) Disappointment\ b) Satisfaction\ c) Delight\ d) Engagement **15.** What is the significance of a marketing channel?\ a) It serves as a method to distribute only services.\ b) It helps businesses display, sell, or deliver products to buyers.\ c) It is used only in global marketing strategies.\ d) It helps in setting product prices for consumers. **16.** Which of the following is true about \"earned media\"?\ a) It refers to paid advertisements in digital media.\ b) It involves communication channels that marketers own.\ c) It is word-of-mouth or buzz marketing generated voluntarily by consumers.\ d) It includes paid sponsorships and endorsements. **17.** Which of the following refers to consumer behaviors shaped by psychological and lifestyle factors?\ a) Demographic segmentation\ b) Geographic segmentation\ c) Psychographic segmentation\ d) Economic segmentation **18.** Which of the following market conditions describes a situation where more consumers want a product than can be supplied?\ a) Overfull demand\ b) Full demand\ c) Declining demand\ d) Negative demand **19.** Which of the following best describes \"impressions\" in marketing?\ a) The number of times consumers interact with a marketing message.\ b) The extent of a consumer\'s active engagement with marketing content.\ c) When consumers view a communication, providing insight into their response.\ d) The number of times a consumer makes a purchase. **20.** In the context of marketing, what is \"engagement\"?\ a) The total amount of time a consumer spends on a website.\ b) The extent of a consumer's active involvement with a communication or product.\ c) The number of items a consumer purchases online.\ d) The total value of sales from a marketing campaign. #### II. ANSWER SHEET 1. b 2. a 3. d 4. c 5. c 6. b 7. b 8. c 9. d 10. c 11. c 12. d 13. b 14. c 15. b 16. c 17. c 18. a 19. c 20. b ### II. ADDITIONAL MULTIPLE CHOICE (30 points) **1.** Which of the following best defines \"latent demand\"?\ a) Consumers dislike the product.\ b) Consumers are unaware of the product.\ c) Consumers have a strong need that cannot be satisfied by any existing product.\ d) Consumers are actively buying the product. **2.** The concept of \"customer value\" is primarily a combination of:\ a) Price, service, and availability\ b) Quality, service, and price\ c) Branding, promotion, and communication\ d) Design, features, and price **3.** What type of segmentation divides consumers based on their knowledge, attitude, and response to a product?\ a) Geographic segmentation\ b) Behavioral segmentation\ c) Demographic segmentation\ d) Psychographic segmentation **4.** Which of the following best describes a \"straight rebuy\" situation in business marketing?\ a) A company routinely reorders a product without any modifications.\ b) A company wants to change its product specifications.\ c) A company is purchasing a product for the first time.\ d) A company needs a complex product with many decision-makers involved. **5.** The buying center refers to:\ a) The physical location where buying decisions are made.\ b) All individuals and groups involved in the purchase decision process.\ c) A company's sales team responsible for purchasing products.\ d) The customer service department that processes purchase orders. **6.** What is the \"buyer-readiness\" stage?\ a) A phase where buyers are prepared to leave the market.\ b) A stage where consumers are unaware of a product.\ c) The different stages a consumer passes through before making a purchase decision.\ d) A phase where buyers show complete loyalty to a single brand. **7.** In the context of marketing channels, \"direct channels\" typically involve:\ a) Selling through intermediaries like wholesalers and retailers.\ b) Direct selling from manufacturers to consumers.\ c) Digital marketing and social media platforms.\ d) Importing products from global suppliers. **8.** Which of the following best defines \"earned media\"?\ a) Media coverage that is paid for by advertisers.\ b) Communication that a company owns, like a website or social media account.\ c) Media exposure generated by consumers through word-of-mouth or social sharing.\ d) An advertisement placed on a social media platform. **9.** The acronym \"SWOT\" in marketing stands for:\ a) Strengths, Weaknesses, Opportunities, Trends\ b) Sales, Wants, Offers, Tactics\ c) Strengths, Weaknesses, Opportunities, Threats\ d) Suppliers, Wholesalers, Orders, Transportation **10.** The business market consists of all organizations that:\ a) Acquire goods and services for personal consumption.\ b) Acquire goods and services to produce other products or services.\ c) Acquire goods and services to distribute to the general public.\ d) Acquire goods and services to engage in social responsibility activities. **11.** Which of the following is a key factor influencing consumer behavior?\ a) Advertising trends\ b) Government regulations\ c) Cultural factors\ d) Supply chain dynamics **12.** Which of the following is an example of a \"core need\"?\ a) A consumer wanting the latest smartphone.\ b) A consumer needing food, water, and shelter.\ c) A consumer wanting a luxury vacation.\ d) A consumer needing access to a carpool service. **13.** Which of the following is NOT a type of market segment?\ a) Behavioral\ b) Geographic\ c) Technological\ d) Demographic **14.** In a \"declining demand\" market condition:\ a) Consumers are buying products more frequently.\ b) Consumers are buying fewer products or not buying at all.\ c) Consumers are unaware of the product.\ d) Consumers are buying more products than can be supplied. **15.** In marketing, the term \"engagement\" refers to:\ a) The number of sales a company makes through a campaign.\ b) The extent of a consumer's attention and active involvement with marketing content.\ c) The overall reach of a product's advertising.\ d) The profitability of a marketing channel. **16.** Which of the following is an example of a service offering?\ a) A car\ b) A refrigerator\ c) Legal consultation\ d) A smartphone **17.** \"Psychographic segmentation\" divides buyers based on:\ a) Age and gender\ b) Income levels\ c) Personality traits, lifestyle, and values\ d) Physical location **18.** The \"Four Ps\" of marketing traditionally include:\ a) Product, Price, Place, and Process\ b) Product, Price, Place, and Promotion\ c) Product, Price, People, and Profit\ d) People, Process, Place, and Promotion **19.** Which of the following best describes a \"modified rebuy\"?\ a) A company routinely orders the same product with no changes.\ b) A company is purchasing a product for the first time.\ c) A company reorders a product with some changes to specifications, prices, or terms.\ d) A company purchases a highly customized product for a specific project. **20.** Which of the following statements is TRUE about "overfull demand"?\ a) It happens when there is more supply than consumers can buy.\ b) It occurs when demand for a product exceeds the available supply.\ c) It occurs when consumers do not want to buy the product at all.\ d) It happens when consumers are uninterested in the product due to poor marketing. **21.** Which of the following is NOT considered part of the marketing process?\ a) Creating value for customers\ b) Communicating value to customers\ c) Delivering value to customers\ d) Reducing competition in the market **22.** What is meant by \"target market\"?\ a) The market segment a company aims to attract with its offerings.\ b) The process of evaluating competitors in a marketplace.\ c) The overall demographic of a country or region.\ d) The audience reached by a brand's advertisements. **23.** \"Global markets\" typically refer to:\ a) Markets within a specific region or city.\ b) Markets that span national boundaries and operate worldwide.\ c) Local consumer markets with specific demands.\ d) Markets in developing countries only. **24.** In the marketing context, which of the following is an example of a \"nonexistent demand\"?\ a) Consumers are unaware of the product and have no interest in it.\ b) Consumers are actively buying the product in large quantities.\ c) Consumers are avoiding the product due to negative feedback.\ d) Consumers are fully satisfied with the product. **25.** The term \"value proposition\" refers to:\ a) The price a customer pays for a product or service.\ b) A statement of the benefits and value a company promises to deliver to customers.\ c) The emotional appeal of a brand\'s advertising.\ d) The geographic market a company operates in. **26.** Which of the following is an example of \"owned media\"?\ a) A paid advertisement on a billboard\ b) A company's official website\ c) A consumer review on a blog\ d) A social media post shared by a customer **27.** In the concept of \"paid media,\" what does the term refer to?\ a) Company-owned communication channels\ b) Earned exposure through word-of-mouth\ c) Advertising space purchased on various platforms\ d) Marketing through volunteer networks **28.** What role does the \"gatekeeper\" play in the buying center?\ a) They approve the purchasing decision.\ b) They decide which products are necessary for purchase.\ c) They prevent sellers or information from reaching members of the buying center.\ d) They manage the company's supply chain operations. **29.** Which of the following describes a market where customers are adequately buying all products that are put into the marketplace?\ a) Full demand\ b) Negative demand\ c) Irregular demand\ d) Latent demand **30.** The \"service channel\" in marketing is used to:\ a) Manage communication between a brand and its consumers.\ b) Help deliver the physical product or service to the buyer or user.\ c) Advertise products directly to customers.\ d) Promote products through various distribution networks. ### III. ANSWER SHEET 1. c 2. b 3. b 4. a 5. b 6. c 7. b 8. c 9. c 10. b 11. c 12. b 13. c 14. b 15. b 16. c 17. c 18. b 19. c 20. b 21. d 22. a 23. b 24. a 25. b 26. b 27. c 28. c 29. a 30. b