MGT301 - Principles of Marketing Quiz No.02 Solution and Discussion Spring 2014 Due Date: June 02, 2014

[+ Ahmad]

Quiz # 02 Principles Of Marketing (MGT 301)

Dear VUStudents !

This is to inform that Quiz # 02 will be opened on May 29, 2014 and last date to attempt quiz will be "June 02, 2014".

Please after attempting your Quiz, share your solved Quiz with other students.

Thanks

[+ Ahmad]

MGT301 Quiz 2 : Date: May 30, 2014 : Time : 10:00 AM

1. In BCG matrix, ______ requires a lot of cash to hold their share.

Cash cow
Dog
Question mark
Star

2. Which kind of competitive tools or strategy would be used by a small grocery store who is competing with a discount store?

Product
Price
Place
Promotion

3. A company division, a product line within a division, or sometimes a single product or brand refers to which one of the following concepts?

A market
The BCG
An SBU
An initiator

4. Which one of the following information can easily be collected through experimental research?

Unknown
Causal
Complicated

5. Segmentation on the basis of demographic statistics includes all, EXCEPT:

Age
Gender
Occupation
Lifestyle

6. Which of the following option is collection and interpretation of information about events and forces that can affect the company?

Stakeholder analysis
Environmental scanning
Market audit
Product analysis

7. Insurance company, Apple computers, Lake View Park and Abdul Star Eidi is an example of?

Service, product, place, person
Service, product, idea, experience
Product, product, place, person
Service, organization, event, idea

8. All of the following are the forces of company’s micro environment EXCEPT:

The company
The Supplier
Competitor
Demographic

9. For conservative small businesses and not-for-profit organizations, good marketing information may be simply collected by which one of the following research tools?

Observation
Questioning
Surveying
Focus groups

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

Collected for the specific purpose at first hand
Original information
First-time information
All of the given options

[+ Ahmad]

Quiz Answers:

1. Question mark
2. Product (Not Sure)
3. An SBU
4. Causal
5. Lifestyle
6. Environmental scanning
7. Service, product, place, person
8. Demographic
9. Observation
10. All of the given options

[rooman]

The micro environment of a company includes all forces, EXCEPT:

Suppliers

Competitors

Government

Customers

 

The marketing information system is not limited to use by the company it serves. It may also provide information to which of the following?

The government

External partners

Various publics

Competitors

 

Risk is something which hinders the buyer to make purchase decision. However in some buying decisions risk is very high. Which of the following buying situation has the high risk than the others?

Straight rebuy

Modified rebuy

New task

All of the given options

 

ABC organization deals in poultry feed and purchase poultry feed from all over the Punjab Province Pakistan. It is now planning to install a urea plant in its locality. For that purpose, it purchases the machinery from selected suppliers. The purchase of machinery represents which one of the following purchases

Straight rebuy

Modified rebuy

New task

All of the given options

 

Which one of the following steps in the marketing research process has been left out: defining the problems and research objectives, interpreting and reporting the findings, and implementing the research plan?

Developing the research budget

Choosing the research agency

Choosing the research method

Developing the research plan

In which of the following contact method where a group of six to ten people have been gathered for interviewing to know the reasons of success or failure of any brand or product?

Personal Interviewing (not sure)

Telephonic Interviewing

Computer Interviewing

Mail Questionnaires

 

 

The first step in the marketing control process is BEST described as one where the marketer performs which of the following activities?

Evaluates performance

• Me

Measures performance

Sets specific goals

Takes corrective action

 

Which of the following product is MOST likely be purchased through routine decision making?

car

shirt

soft drink

tv

 

Marketing plan ends at which of the following component?

Executive summary

Control

Budget

Marketing strategy

 

Mudassir Chemicals is dealing in chemicals in Karachi and it launches Cement industry in Lahore. This strategy for growth falls under which of the following?

Market Development

Market Penetration

Product Development

Diversification

 

 

_________ is the process of analyzing market opportunities, selecting target markets, developing the market mix and managing the marketing effort.

Marketing process

Marketing planning

Strategic planning

Corporate planning process

 

The marketing mix of tangible products includes all, EXCEPT:

Product

price

people

promotion

 

Which of the following characteristics should not be included in mission statement

Be realistic

Be broad

Be specific

Be motivating

 

The marketing research process includes all, EXCEPT:

Defining the problem

Developing the research plan

Making critical decisions

Reporting the findings

 

Primary data must be Accurate, unbiased, current, and :

Complete

Relevant

Inexpensive

Collected before secondary data

 

Which one of the following statement is not include in marketing process

Analyzing marketing opportunities

Selecting target market

Company’s mission statement

Developing marketing mix

Which of the following three psychographic dimensions are MOST commonly used in market segmentation?

Personality, perception and learning

Personality, perception and behavior

Motives attitudes and lifestyles

Personality, social class and lifestyles

 

Which of the following set refers to the order of action in marketing control process?

Performance – corrective action – set goals

Corrective action – set goals - measure performance – evaluate performance

Set goals - Measure performance – evaluate performance - corrective action

Set goals - Measure performance – corrective action – evaluate performance

 

The strategic planning process consists all, EXCEPT:

 

Developing mission and vision

Defining objectives

Defining organizational structure

Formulating marketing strategy

[Etret Mary]

quiz is of 20 marks means 20 questions...

[Etret Mary]

these questions are not in my quize....all of them are wrong

[+ Ahmad]

@ Etret Mary, Sorry to hear that , but their system always choose random question for every person. 

[papa ki pari (M.I.T) student]

thank bro very well work

[+ Ahmad]

11. The business portfolio is analyzed with the help of _______.

Product life cycle
New product development
BCG growth share matrix
Strategic market analysis

12. Porter’s Five Forces Model best describes about:

Bargaining power of supplier
Threat of new entrant
Rivalry
All of the given options

13. Interwood is a famous brand in the world of furniture making. It is well known due to its different and unique designs of sofa set and doors of room etc. You are planning to purchase the latest design of dinning table from Interwood. Here dinning table serves which of the following type of product?

Convenience product
Shopping product
Unsought product
Specialty product

14. Consumer market can be segmenting in how many ways?

1
2
3
4

15. A famous shop offers “Kulfa for One” to small households. In this case, the firm is conducting segmentation based on:

Family life cycle
Taste
Income
Age

16. The marketing management philosophies includes all, EXCEPT:

Production concept
Societal marketing concept
Selling concept
Portfolio concept

17. TV ads, radio ads and hoarding are the means to create awareness among customers. These are the part of?

Positioning
Promotion
Selling'
Distributing

18. Which form of data can usually be obtained more quickly and at a lower cost?

Primary
Tertiary
Secondary

[Asad Vohra]

Answers!

[rooman]

asad....how was ur quiz bro!!!

[+ Ahmad]

Quiz Answers:

11. BCG growth share matrix
12. All of the given options
13. Shopping product
14. 4
15. Family life cycle
16. Portfolio concept
17. Promotion
18. Secondary

[Pirates]

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