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.
- Which of the following statements is correct?
- Marketing is the term used to refer only to the sales function within a firm
- Marketing managers usually don’t get involved in production or distribution decisions
- Marketing is an activity that considers only the needs of the organization, not the needs of society as a whole
- Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Correct answer: (D) Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
- Which of the following is NOT an element of the marketing mix?
- Target market
Correct answer: (C) Target market
- Marketing decision makers in a firm must constantly monitor competitors’ activities-their products, prices, distribution, and promotional efforts-because
- The competitors may be violating the law and can be reported to the authorities
- The actions of competitors may threaten the monopoly position of the firm in its industry
- The actions of competitors may create an oligopoly within an industry
- New product offerings by a competitor with the resulting competitive variations may require adjustments to one or more components of the firm’s marketing mix
Correct answer: (D) New product offerings by a competitor with the resulting competitive variations may require adjustments to one or more components of the firm’s marketing mix
- Political campaigns are generally examples of—
- Cause marketing
- Organization marketing
- Event marketing
- Person marketing
Correct answer: (D) Person marketing
- ______________ is the collection and interpretation of information about forces, events, and relationships that may affect the organization.
- Environmental scanning
- Stakeholder analysis
- Market sampling
- Opportunity analysis
Correct answer: (A) Environmental scanning
- Which of the following is typically NOT a result of recognizing the importance of ethnic groups by marketers?
- Use of an undifferentiated one-size-fits-all marketing strategy
- Different pricing strategies for different groups
- Variations in product offerings to suit the wants of a particular group
- Study of ethnic buying habits to isolate market segments
Correct answer: (A) Use of an undifferentiated one-size-fits-all marketing strategy
- Strategic marketing planning establishes the—
- Resource base provided by the firm’s strategy
- Economic impact of additional sales
- Tactical plans that must be implemented by the entire organization
- Basis for any marketing strategy
Correct answer: (D) Basis for any marketing strategy
- These objectives are often the most suitable when firms operate in a market dominated by a major competitor and where their financial resources are limited
Correct answer: (A) Niche
- When companies make marketing decisions by considering consumers’ wants and the long-run interests of the company, consumer, and the general population, they are practicing which of the following principles?
- Innovative marketing
- Consumer-oriented marketing
- Value marketing
- Societal marketing
Correct answer: (D) Societal marketing
- The use of price points for reference to different levels of quality for a company’s related products is typical of which product-mix pricing strategy?
- Optional-product pricing
- Captive-product pricing
- By-product pricing
- Product line pricing
Correct answer: (D) Product line pricing