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

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.

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Selecting the right competitive advantage is part of which one of the following concepts?

  • Target marketing
  • Market Positioning
  • Market segmentation
  • Undifferentiated Marketing
  • Target marketing

Under which one of the following strategies a company can introduce present products to the new market in order to achieve the higher profit margin and sales?

  • Product development
  • Market development
  • Market penetration
  • Diversification
  • Market development

Market is a set of potential and actual ______ of a product.

  • Sellers
  • Buyers
  • Distributors
  • Wholesalers
  • Buyers

Which of the human wants are backed by buying power?

  • Needs
  • Wants
  • Demands
  • Exchange 
  • Demands

Ford Motors is producing a new van with four-wheel drive. Identify on which of the following basis they will segment their markets for this new model?

  • Religion
  • Age
  • Income
  • Race
  • Income

What is far more important for a company?

  • To attract new customers
  • To retain existing customers
  • To create awareness
  • To compete with its competitors

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