1. The company must study its customer ______ closely since each market has its own special characteristics.
  1. ______are distribution channel firms that help the company find customers or make sales to them.
  1. ______ are firms that help the company to promote, sell, and distribute its goods to final buyers
  1. The ______consists of the larger societal forces that affect the Microenvironment.
  1. Marketing process consists of______steps.
  1. What is our business? Who’s our customer? What do our customers value? What should our business be? All these simple-sounding questions define a firm’s ______
  1. The best known product portfolio planning method was developed by ______
  1. ______ is the marketing logic by which a company hopes to achieve profitable customer relationships
  1. Central to any definition of marketing is ______

10.______is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation.

  1. The company must study its customer markets closely since each market has its own special characteristics.
  1. Resellers are distribution channel firms that help the company find customers or make sales to them.
  1. Marketing intermediaries are firms that help the company to promote, sell, and distribute its goods to final buyers
  1. The macro environmentconsists of the larger societal forces that affect the Microenvironment.
  1. Marketing process consists of four steps.
  1. What is our business? Who’s our customer? What do our customers value? What should our business be? All these simple-sounding questions define a firm’s mission statement
  1. The best known product portfolio planning method was developed by BCG
  1. Marketing strategy is the marketing logic by which a company hopes to achieve profitable customer relationships
  1. Central to any definition of marketing is customer relationship management
  1. Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation.

Choose the best option.(Marks 20)

  1. Defining people by their birth date may be less effective than segmenting them by their _____ or _____.
  2. income; occupation
  3. lifestyle; occupation
  4. lifestyle; life stage
  5. occupation; life stage
  6. gender; sexual preference
  1. Population shifts interest marketers because people in different regions _____ differently.
  2. eat
  3. think
  4. buy
  5. act
  6. all of the above
  1. Despite the data glut that marketing managers receive, they frequently complain that they lack _____.
  2. enough information of the right kind
  3. quality information
  4. timely information
  5. accurate and reliable information
  6. valid information
  1. Which of the following was not mentioned in your textbook as a source of marketing intelligence?
  2. Suppliers.
  3. Resellers.
  4. Key customers.
  5. Your company reports.
  6. Sales force.
  1. Your colleague is confused about using the marketing research process. He seems to be having problems with _____, which is often the hardest step to take.
  2. defining the problem
  3. defining the research objectives
  4. defining the problem and research objectives
  5. researching a research agency to help
  6. C and D
  1. _____ involves evaluating each market segment’s attractiveness and selecting one or more segments to enter.
  2. Market segmentation
  3. Product differentiation
  4. Target marketing
  5. A and B
  6. None of the above
  1. The research plan outlines sources of existing data and spells out the specific research approaches, contact methods, _____, and instruments that researchers will use to gather new data.
  2. personnel
  3. sampling plans
  4. budget requirements
  5. all of the above
  6. none of the above
  1. The way to begin marketing research is to gather secondary data, which consists of information _____.
  2. that already exists somewhere
  3. that does not currently exist in an organized form
  4. that already exists somewhere, having been collected for another purpose
  5. used by competition
  6. that the researcher can obtain through surveys and observation
  1. How would you describe the primary data being used by your firm?
  2. Collected for the specific purpose at hand.
  3. Original information.
  4. First-time information.
  5. Fresh and perhaps more reliable than secondary data.
  6. All of the above.
  1. Products may fail because _____.
  2. the market size may have been overestimated
  3. the product’s design did not meet consumer expectations
  4. they were priced too high
  5. they were advertised poorly
  6. All of the above

  1. With what groups do firms conduct concept testing for new products?
  1. Suppliers.
  2. Employees.
  3. Target customers.
  4. Focus groups.
  5. Competitors.
  1. During product development which group or department develops the product into a physical product?
  2. Research and development.
  3. Engineering.
  4. Production.
  5. None of the above.
  6. A or B
  1. Most large companies research _____ buying decisions to find out what they buy, where they buy, how and how much they buy, when they buy, and why they buy.
  2. market
  3. permanent
  4. consumer
  5. social
  6. group
  1. How do consumers respond to various marketing efforts the company might use? The starting point is the _____ of a buyer’s behavior.
  2. belief
  3. subculture
  4. post-purchase feeling
  5. stimulus-response
  6. post-purchase dissonance
  1. Which is NOT a part of the buyer’s black box?
  2. Observable buyer responses.
  3. Product choice.
  4. Need recognition.
  5. Dealer choice.
  6. B and D
  1. What is one way that a social class is not measured?
  2. Occupation.
  3. Education.
  4. Income.
  5. Number of children in the family.
  6. House type.
  1. When a company identifies the parts of the market it can serve best and most profitably, it is practicing _____.
  1. concentrated marketing
  2. mass marketing
  3. targeted marketing
  4. segmenting
  5. undifferentiation
  1. Through talking to numerous competitors at a regional trade show, you learn that most of them use the most popular base for segmenting markets. What is it?
  1. Demographic.
  2. Gender.
  3. Psychographic.
  4. Behavioral.
  5. Geographic.
  1. Adapting the firm to take advantage of opportunities in its constant changing environment is called ______.
  2. long-range planning
  3. short-range planning
  4. annual planning
  5. strategic planning
  1. ______is the task of selecting an overall company strategy for long-run survival and growth.
  2. Strategic market planning
  3. Annual market planning
  4. Short-term planning
  5. Advertising
  6. None of the above is correct

Choose the right option.(Marks 20)

  1. Defining people by their birth date may be less effective than segmenting them by their _____ or _____.
  2. income; occupation
  3. lifestyle; occupation
  4. lifestyle; life stage
  5. occupation; life stage
  6. gender; sexual preference
  1. Population shifts interest marketers because people in different regions _____ differently.
  2. eat
  3. think
  4. buy
  5. act
  6. all of the above
  7. Despite the data glut that marketing managers receive, they frequently complain that they lack _____.

a.enough information of the right kind

b.quality information

c.timely information

d.accurate and reliable information

e.valid information

(Answer: a; p. 97; Easy)

  1. Which of the following was not mentioned in your textbook as a source of marketing intelligence?

a.Suppliers.

b.Resellers.

c.Key customers.

d.Your company reports.

e.Sales force.

  1. Your colleague is confused about using the marketing research process. He seems to be having problems with _____, which is often the hardest step to take.

a.defining the problem

b.defining the research objectives

c.defining the problem and research objectives

d.researching a research agency to help

e.C and D

  1. _____ involves evaluating each market segment’s attractiveness and selecting one or more segments to enter.
  2. Market segmentation
  3. Product differentiation
  4. Target marketing
  5. A and B
  6. None of the above
  1. The research plan outlines sources of existing data and spells out the specific research approaches, contact methods, _____, and instruments that researchers will use to gather new data.

a.personnel

b.sampling plans

c.budget requirements

d.all of the above

e.none of the above

(Answer: b; p. 103; Moderate)

  1. The way to begin marketing research is to gather secondary data, which consists of information _____.

a.that already exists somewhere

b.that does not currently exist in an organized form

c.that already exists somewhere, having been collected for another purpose

d.used by competition

e.that the researcher can obtain through surveys and observation

(Answer: c; p. 103; Easy)

  1. How would you describe the primary data being used by your firm?

a.Collected for the specific purpose at hand.

b.Original information.

c.First-time information.

d.Fresh and perhaps more reliable than secondary data.

e.All of the above.

(Answer: e; p. 105; Easy)

  1. Products may fail because _____.
  2. the market size may have been overestimated
  3. the product’s design did not meet consumer expectations
  4. they were priced too high
  5. they were advertised poorly
  6. All of the above

(Answer: e; p. 239; Easy)

  1. With what groups do firms conduct concept testing for new products?
  2. Suppliers.
  3. Employees.
  4. Target customers.
  5. Focus groups.
  6. Competitors.

(Answer: c; p. 243; Challenging)

  1. During product development which group or department develops the product into a physical product?
  2. Research and development.
  3. Engineering.
  4. Production.
  5. None of the above.
  6. A or B

(Answer: e; p. 245; Easy)

  1. Most large companies research _____ buying decisions to find out what they buy, where they buy, how and how much they buy, when they buy, and why they buy.

a. market

b.permanent

c.consumer

d.social

e.group

(Answer: c; p. 129; Easy)

  1. How do consumers respond to various marketing efforts the company might use? The starting point is the _____ of a buyer’s behavior.

a.belief

b.subculture

c.postpurchase feeling

d.stimulus-response

e.postpurchase dissonance

(Answer: d; p. 129; Challenging)

16. Which is NOT a part of the buyer’s black box?

a.Observable buyer responses.

b.Product choice.

c.Need recognition.

d.Dealer choice.

e.B and D

(Answer: c; p. 129; Challenging)

17. What is one way that a social class is not measured?

a.Occupation.

b.Education.

c.Income.

d.Number of children in the family.

e.House type.

(Answer: d; p. 132; Easy)

  1. When a company identifies the parts of the market it can serve best and most profitably, it is practicing _____.
  1. concentrated marketing
  2. mass marketing
  3. targeted marketing
  4. segmenting
  5. undifferentiation

(Answer: d; p. 165; Moderate)

  1. Through talking to numerous competitors at a regional trade show, you learn that most of them use the most popular base for segmenting markets. What is it?
  1. Demographic.
  2. Gender.
  3. Psychographic.
  4. Behavioral.
  5. Geographic.

(Answer: a; p. 167; Easy)

  1. Adapting the firm to take advantage of opportunities in its constant changing environment is called _____.
  2. long-range planning
  3. short-range planning
  4. annual planning
  5. strategic planning
  6. environmental scanning

(Answer: d; p. 37; Easy)

20._____ is the task of selecting an overall company strategy for long-run survival and growth.

  1. Strategic market planning
  2. Annual market planning
  3. Short-term planning
  4. Advertising
  5. None of the above is correct

Select the most appropriate answer for each given option

1) Developing the company’s goals and plans belong to.

a)Major activity of strategic planning process

b)Major activity of operational planning

c)Major activity of tactical planning

d)All of the above

2) A person’s social class is determined by his/her

a)Income Level

b)Occupation and education

c)Product usage, personality and culture

d)Psychographic characteristics

3) Marketing programs are most closely related to

a)Customer relationship management

b)Mass marketing strategy

c)The four utilities

d)The marketing mix

4) The current market situation is the section of marketing plan which include

a)A product review

b)A market description

c)Analysis of the competition

d)All of the above

5) Which of the following is not the example of the strategy that can be used to enhance profit?

a)Market development

b)Product development

c)Market penetration

d)Product penetration

6) ______is an indispensable tool to analyze marketing opportunities.

a)Selecting target market

b)Marketing research

c)Increase in sale

d)Increase in customers.

7) Which of the following represents the most important reason why firms monitor their demographic environment?

a)to explain historical trends

b)to predict political change

c)to predict the size of market segments

d)to predict business cycles

8)Needs differ from wants because:

a)Wants are a socialized manifestation of underlying needs

b)Needs are a socialized manifest. Needs are historical; wants are about the autorotation of underlying wants

c)Needs are historical; wants are about the future

d)Needs and wants are exactly the same

9) Which of the following is true about marketing planning at the bottom of a business cycle?

a)This is the worst time to invest because the market is weak.

b)If it is fairly certain that the bottom of the cycle has been reached; this is the time to begin increasing investment.

c)Planning should continue on the basis of no change in the level of national economic activity.

d)D There is greater certainty at this stage in the cycle.

10) Which of the following is NOT usually defined as an element of the marketing mix?

a)Product

b)People

c)Place

d)Profit

1) Developing the company’s goals and plans belong to.

e)Major activity of strategic planning process

f)Major activity of operational planning

g)Major activity of tactical planning

h)All of the above

2) A person’s social class is determined by his/her

e)Income Level

f)Occupation and education

g)Product usage, personality and culture

h)Psychographic characteristics

3) Marketing programs are most closely related to

e)Customer relationship management

f)Mass marketing strategy

g)The four utilities

h)The marketing mix

4) The current market situation is the section of marketing plan which include

e)A product review

f)A market description

g)Analysis of the competition

h)All of the above

5) Which of the following is not the example of the strategy that can be used to enhance profit?

e)Market development

f)Product development

g)Market penetration

h)Product penetration

6) ______is an indispensable tool to analyze marketing opportunities.

e)Selecting target market

f)Marketing research

g)Increase in sale

h)Increase in customers.

7) Which of the following represents the most important reason why firms monitor their demographic environment?

e)to explain historical trends

f)to predict political change

g)to predict the size of market segments

h)to predict business cycles

8)Needs differ from wants because:

e)Wants are a socialized manifestation of underlying needs

f)Needs are a socialized manifest. Needs are historical; wants are about the autorotation of underlying wants

g)Needs are historical; wants are about the future

h)Needs and wants are exactly the same

9) Which of the following is true about marketing planning at the bottom of a business cycle?

e)This is the worst time to invest because the market is weak.

f)If it is fairly certain that the bottom of the cycle has been reached; this is the time to begin increasing investment.

g)Planning should continue on the basis of no change in the level of national economic activity.

h)D There is greater certainty at this stage in the cycle.

10) Which of the following is NOT usually defined as an element of the marketing mix?

e)Product

f)People

g)Place

h)Profit

1.There are ______universal functions performed in marketing.

1)4

2)8

3)9

4)6

2. Which is not included in Porter’s Five Model of Competition?

1)Threats of new entrants

2)Rivalry among competitors

3)Threats of substitute

4)Threat of Rapid Globalization

3. Product in 4 P’s is equal to

1)Customer’s cost

2)Convenience

3)Customer’s solution

4)Communication

4 .Question Mark in BCG Matrix represents______

1)High-growth, high-share business or products

2)Low-growth, high-share business or products

3)Low-growth, low-share business or products

4)High-growth, low-share business or products

5. Marketing has an important role to play in

1)Business

2)Politics

3)Religion

4)All of the given options

6.Arrangement for a product to occupy a clear distinctive and desirable place relative to competing product in the minds of target consumer is

1) Market Segmentation

2) Market Targeting

3)Market positioning

4) SWOT Analysis

7. BCG Matrix is also named as

1) Market-Growth Matrix

2) Growth-Share Matrix

3) Share-Growth Matrix

4) SBU Matrix

8. Diversification means moving into totally different lines of business perhaps entirely unfamiliar products, markets, or even levels in production marketing system.

1) True

2) False

9. The idea of CRM is that it helps businesses use technology to gain inside into the behavior of supplier and the value of those suppliers.

1) True

2) False

10. A human want is a state of felt deprivation.

1) True

2) False

Highlight/choose the right option. Each question carries equal mark.

`

1.In ______the consumer becomes regular user of the product.

1)Adoption

2)Awareness

3)Interest

4)Trial

2. A manufacturer has ______sponsorship options.

1)4

2)5

3)6

4)3

3. Degree to which a market segment can conceptually distinguish and has the ability to respond differently to different marketing mix elements and programs is:

5)Measurability

6)Sustainability

7)Differentiation

8)Action Ability

4. Dividing market into different geographical units is called:

5)Demographic Segmentation

6)Geographic Segmentation

7)Behavioral Segmentation

8)Market Development

5. At ______level of marketing segmentation there is complete segmentation.

5)Mass marketing

6)Segment marketing

7)Niche Marketing

8)Micro Marketing

6. ______has formal or informal power to select or approve the final suppliers.

5)Decider

6)Gate Keeper

7)Influencer

8)Buyer

7. In model of business buyer behavior, marketing and other stimuli affect the ______response.

1)Consumer

2)Buyer

3)Supplier

4)Intermediary

8. Business buying process tends to be more ______than consumer buying process.

1)Complex

2)Formalized

3)Dependent

4)All of the above

9. ______is the key to make lasting connections with consumers.

1)Customer Satisfaction

2)Customer Returns

3)Customer Wants and Needs

4)Marketing

10. In the ______stage of business buying process, the buyer compiles a small list of qualified suppliers through computer research in the light of recognizing business needs and developing product specification.

1)Product Specification

2)Supplier Search

3)Proposal Solicitation

4)Supplier Selection

  1. ______consists of direct communication with carefully targeted individuals, consumers to obtain an immediate response. (Direct marketing)
  2. An important source of information is the sales report including ______and ______reports. (call, expense)
  3. Evaluating the ______is an important process in the sales force management. (sales people)
  4. Some companies place information and ordering machines called ______in stores, airports, and other location.(Kiosk)
  5. ______are certificates that give buyer a saving when they purchase specified products.(Coupons)
  6. ______Marketing is selling through catalogs mailed to a selected list of customers or made available in stores.(Catalog)
  7. ______channels are media that carry messages without personal contact or feed back. (Non personal communication)
  8. The ______is a method that deals in selling the company’s promotion budget at a certain percentage of current or forecasted sales. (Percentage of sales method)
  9. ______is a process by which the receiver assigns meaning to the symbols encoded by the sender. (Decoding)
  10. In ______sales person learns as much as possible about prospective customer before making a sales call. (Reproach)
  1. The company must study its customer ______ closely since each market has its own special characteristics.
  1. ______are distribution channel firms that help the company find customers or make sales to them.
  1. ______ are firms that help the company to promote, sell, and distribute its goods to final buyers
  1. The ______consists of the larger societal forces that affect the Microenvironment.
  1. Marketing process consists of______steps.
  1. What is our business? Who’s our customer? What do our customers value? What should our business be? All these simple-sounding questions define a firm’s ______
  1. The best known product portfolio planning method was developed by ______
  1. ______ is the marketing logic by which a company hopes to achieve profitable customer relationships
  1. Central to any definition of marketing is ______

10.______is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation.