Marketing Management MCQ
What Is Marketing Management ?
Marketing management is the organizational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of a firm’s marketing resources and activities.
- ______________ is a critical success factors of products at project level which is indicated by a differentiated product with unique customer benefits.
- Solid up front homework
- High quality marketing activities
- Sharp early product definition
- Product superiority
Correct answer: (D) Product superiority
- Which of the following represents the correct sequence of tasks for building a brand (from left to right)?
- Developing marketing programs, Leverage of secondary associations, Choosing brand elements
- Choosing brand elements, Developing marketing programs, Leverage of secondary associations
- Choosing brand elements, Leverage of secondary associations, Developing marketing programs
- Leverage of secondary associations, Choosing brand elements, Developing marketing programs
Correct answer: (B) Choosing brand elements, Developing marketing programs, Leverage of secondary associations
- Company A fixes its marketing communication budget by observing the budget set by Company B. This is an example of establishing budget by:
- Affordable method
- Percentage of sales method
- Competitive parity method
- Objective and task method
Correct answer: (C) Competitive parity method
- Marketing channel that involves no intermediaries to made their products available to final buyers is classified as
- Direct channel
- Indirect channel
- Static channel
- Flexible channel
Correct answer: (A) Direct channel
- Typically profit is negative in which stage of the product life cycle?
- Growth
- Maturity
- Introduction
- Decline
Correct answer: (C) Introduction
- The Economic Order Quantity (EOQ) represents the order quantity for which:
- Inventory carrying cost per unit is lowest
- Order processing cost per unit is lowest
- Total inventory and order cost per unit is lowest
- None of these
Correct answer: (C) Total inventory and order cost per unit is lowest
- Which of the following statement is true regarding break-even point:
- The profit at break-even point is 0
- Total revenue is more than total cost at break-even point
- Total cost is more than total profit at break-even point
- None of these
Correct answer: (A) The profit at break-even point is 0
- Cost of setting up a warehouse is considered as ______________ cost and cost of overtime paid to workers is considered as a ______________ cost.
- Fixed, fixed
- Variable, fixed
- Fixed, variable
- Variable, Variable
Correct answer: (C) Fixed, variable
- Identify the incorrect statement about multiple channels:
- Internet banking is an example of low cost channel that is offered by banks
- Customers usually use only one channel for all transactions even if multiple channels are offered
- Service sensitive customers prefer the full service channels
- Economic considerations should not be the only criteria for deciding what combination of channels to be used
Correct answer: (B) Customers usually use only one channel for all transactions even if multiple channels are offered
- Segmentation is the process of:
- Dividing the market into homogenous groups
- Selecting one group of consumers among several other groups
- Creating a unique space in the minds of the target consumer
- None of these
Correct answer: (A) Dividing the market into homogenous groups