Mid Term 2010 - api.ning.comapi.ning.com/files/Jwk68Dr3pzP0ZyblJKMadg0... · 03 Solved Mid Term Papers of MGT301 Spring 2010 ... Company has several target markets Company is market

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03 Solved Mid Term Papers of MGT301 Spring 2010 By

http://vustudents.ning.com

MIDTERM EXAMINATION Spring 2010

MGT301- Principles of Marketing (Session - 2) Ref No: 1433971

Time: 60 min Marks: 47

Student Info StudentID: MC100202199

Center: OPKST

ExamDate: 5/31/2010 12:00:00 AM

For Teacher's Use Only Q No. 1 2 3 4 5 6 7 8 Total

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Q No. 9 10 11 12 13 14 15 16

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Q No. 17 18 19 20 21 22 23 24

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Q No. 25 26 27 28 29 30 31 32

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Q No. 33 34 35 36 37

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Question No: 1 ( Marks: 1 ) - Please choose one When Olympia Carpets develops new carpets that are highly stain resistant and durable, it must educate consumers about the product's benefits. This activity calls for which one of the following marketing mix variables? ► Price ► Promotion ► Distribution ► Product Question No: 2 ( Marks: 1 ) - Please choose one Building, keeping and growing profitable value-laden relationships with all customers of a company refers to which of the following options? ► Customer lifetime value ► Customer perceived value ► Customer relationship management ► Societal marketing Question No: 3 ( Marks: 1 ) - Please choose one If a local company wants to adopt the marketing concept. To be consistent with this move, it should adopt which of the following philosophies? ► Focusing on today is important for us ► Making money is our business ► The customer is always right ► Keeping prices low is our objective http://vustudents.ning.com Question No: 4 ( Marks: 1 ) - Please choose one Advertising agencies are an example of which of the following marketing intermediaries? ► Insurance company ► Financial intermediary ► Marketing services agency ► Physical distribution firm Question No: 5 ( Marks: 1 ) - Please choose one Which type of management is responsible for setting the company’s mission, objectives, broad strategies and policies? ► Top management ► Middle level management ► Low level management ► Functional management Question No: 6 ( Marks: 1 ) - Please choose one Which one of the following is NOT a part of the macro-environment? ► Demographic forces ► Natural forces


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► Competitors' forces ► Political forces Question No: 7 ( Marks: 1 ) - Please choose one The objective of which of the following research is to gather preliminary information that will help define the problem and suggest hypotheses? http://vustudents.ning.com ► Descriptive ► Exploratory ► Causal ► Corrective Question No: 8 ( Marks: 1 ) - Please choose one Which method of research can be used to obtain information if people are unwilling or unable to provide? ► Observations ► Focus groups ► Personal interviews ► Questionnaires Question No: 9 ( Marks: 1 ) - Please choose one The mental act, condition or habit of placing trust or confidence in another shows which of the following options? ► Motive ► Belief ► Behavior ► Attitude Question No: 10 ( Marks: 1 ) - Please choose one Income segmentation is used to target which of the following groups? ► Affluent ► Middle class ► Lower income class ► All of the given options Question No: 11 ( Marks: 1 ) - Please choose one Which of the following factors are often used for segmenting customer groups? ► Geographic factors ► Psychographic factors ► Behavioral factors ► Demographic factors http://vustudents.ning.com Question No: 12 ( Marks: 1 ) - Please choose one The purpose of idea generation is to create a _____ of ideas. The purpose of succeeding stages is to _____ that number. ► Small number; reduce ► Small number; increase


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► Large number; increase ► Large number; reduce Question No: 13 ( Marks: 1 ) - Please choose one Which one of the following forces is NOT the part of company’s macro environment? ► Demographic ► Economic ► Political ► Public Question No: 14 ( Marks: 1 ) - Please choose one Mr. ABC has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage to select the good ideas and drop the poor ones. What is another name of idea reducing stage http://vustudents.ning.com ► Idea generation ► Idea screening ► Product concept ► Concept development Question No: 15 ( Marks: 1 ) - Please choose one The managers of a firm are providing all the facilities and assistance that a customer demands. As a result of their efforts the customers are satisfied and the firm is enjoying huge profits. The efforts of the manager are considered as part of: ► Customer Relationship Management ► Total Quality Management ► Supply chain Management ► Customer Acknowledgement Question No: 16 ( Marks: 1 ) - Please choose one A movie was greatly promoted as having a lot of actions and special effects. When the people went to see the movie it was not according to the expectations of the people. In this case the people were: ► Satisfied ► Dissatisfied ► Overjoyed ► All of the given options Question No: 17 ( Marks: 1 ) - Please choose one A product fulfilled all the expectations that were advertised during the launching of the product. Thus the customers using the product should be http://vustudents.ning.com ► Satisfied ► Dissatisfied ► Disappointed ► All of the given options


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Question No: 18 ( Marks: 1 ) - Please choose one To persuade people to purchase non essential goods and services which of the following concepts would prove more fruitful? http://vustudents.ning.com ► Production Concept ► Product Concept ► Selling Concept ► Marketing Concept Question No: 19 ( Marks: 1 ) - Please choose one McDonald runs an advertisement featuring children, seniors, citizens and minority groups. What does this ad show? ► Company is product oriented ► Company considers only environmental factors ► Company has several target markets ► Company is market oriented Question No: 20 ( Marks: 1 ) - Please choose one Which of the following entities of a company has a separate mission and objectives which can be planned independently from other company businesses. ► Business Portfolio ► Strategic Business Unit ► Product Line ► None of the given Question No: 21 ( Marks: 1 ) - Please choose one The steps comprising the marketing control process in ascending order are: ► Measure performance – evaluate 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 Question No: 22 ( Marks: 1 ) - Please choose one Which of the following options indicate a company’s macro environment? ► Demographic, economic, natural, technological, political and social ► Demographic, natural, economic, political, social and cultural ► Demographic, economic, natural, technological, political and cultural ► Demographic, economic, natural, social, political and legal Question No: 23 ( Marks: 1 ) - Please choose one http://vustudents.ning.com Why is business legislation enacted? ► To protect consumers ► To protect companies from each other ► To protect the interest of the society ► All of the given options Question No: 24 ( Marks: 1 ) - Please choose one


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MIS activities begin and end with which of the following? ► Information Users ► Distributors ► Competitors ► Upper Management Question No: 25 ( Marks: 1 ) - Please choose one To develop effective marketing programs, companies need information on which of the following? ► Consumers ► Competitors ► Resellers ► All of the given options Question No: 26 ( Marks: 1 ) - Please choose one Which of the following is the disadvantages of survey research? ► Survey research is not flexible ► The respondents can give inaccurate answers ► It is difficult to collecting primary data with survey research ► All of the given options http://vustudents.ning.com Question No: 27 ( Marks: 1 ) - Please choose one A successful marketer keeps track of a person’s needs as he grows. When he is a child the marketer and his company may design toys for their customer. When he becomes an adult the company may start producing ties and shirts. In this case the marketer is looking at which factor of the consumer behavior? ► Age and life cycle ► Occupation ► Economic situation ► Roles and status Question No: 28 ( Marks: 1 ) - Please choose one A term that describes the tendency of people to interpret information in a way that will support what they already believe is called: ► Selective Attention ► Selective Retention ► Selective Distortion ► None of the given option Question No: 29 ( Marks: 1 ) - Please choose one MR.Y goes to the convenience store every Saturday to buy groceries, such as salts, vegetables, fruits and rice. This behavior of Mr. Y is an example of: ► Complex Buying Behavior ► Variety Seeking Buying Behavior ► Dissonance Reducing Buying Behavior ► Habitual Buying Behavior


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Question No: 30 ( Marks: 1 ) - Please choose one Manufacturers of surf excel are successful in making their product occupy a desirable place in the hearts of its customers. Now surf excel is considered as a powerful all purpose family detergent. The marketers have successfully ___________ its product. ► Differentiated ► Targated ► Positioned ► Segmented Question No: 31 ( Marks: 1 ) - Please choose one “Consumers segments that have similar needs and buying behavior even though they are located in different countries” refers to which of the following segmentation? ► International marketing segmentation ► Consumer marketing segmentation ► Business marketing segmentation ► Intermarket segmentation Question No: 32 ( Marks: 1 ) - Please choose one Shakeel just moved into a new city. He is a very successful man and would like to purchase a luxurious car and designer clothes. These products are examples of: ► Convenience Products ► Shopping Products ► Specialty Products ► Unsought Products Question No: 33 ( Marks: 1 ) - Please choose one Identify the other market offerings marketers have broadened the concept of "product" to include. ► Organizations, persons and places ► Ideas, services and organization ► Places, organizations and times ► None of the given options Question No: 34 ( Marks: 1 ) - Please choose one At the __________ stage in the product life cycle, educating the market remains a goal, but now the company also needs to meet the competition. ► Growth ► Maturity ► Decline ► All of the given options Question No: 35 ( Marks: 3 ) A well known company introduced a new product in the market; unfortunately the product was a complete failure. Highlight the reasons why new product sometimes fails to earn revenue. Ans


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There are several reasons. May be the idea was good, but the market size may have been overestimated. The actual product was not designed as well as it should have been. Maybe it was incorrectly positioned in the market, priced too high, or high price and poor advertisement. A high-level executive might push a favorite idea despite poor marketing research findings. Sometimes the costs of product development are higher than expected, and sometimes competitors fight back harder than expectation. Question No: 36 ( Marks: 5 ) How many stages are involved in adoption process? Consumers go through five stages in the process of adopting a new product: • Awareness: The consumer becomes aware of the new product, but lacks information about it. • Interest: The consumer seeks information about the new product. • Evaluation: The consumer considers whether trying the new product makes sense. • Trial: The consumer tries the new product on a small scale to improve his or her estimate of its value. • Adoption: The consumer decides to make full and regular use of the new product. This model suggests that the new-product marketer should think about how to help consumers move through these stages. A manufacturer of large-screen televisions may discover that many consumers in the interest stage do not move to the trial stage because of uncertainty and the large investment. If these same consumers were willing to use a large-screen television on a trial basis for a small fee, the manufacturer should consider offering a trial-use plan with an option to buy. Question No: 37 ( Marks: 5 ) Industrial products are those purchased for further processing or for use in conducting a business. These products have been categorized into three groups. What do you know about these groups of industrial products? The three groups of industrial products and services include materials and parts, capital items, and supplies and services. Materials and parts include raw materials and manufactured materials and parts. Raw materials consist of farm products (wheat, cotton, livestock, fruits, vegetables) and natural products (fish, lumber, crude petroleum, iron ore). Manufactured materials and parts consist of component materials (iron, yarn, cement, wires) and component parts (small motors, tires, castings). Most manufactured materials and parts are sold directly to industrial users. Price and service are the major marketing factors; branding and advertising tend to be less important. The demand for industrial products is derived from the demand for consumer products. This is known as "derived demand." Capital items are industrial products that aid in the buyer's production or operations, including installations and accessory equipment. Installations consist of major purchases such as buildings (factories, offices) and fixed equipment (generators, drill presses, large computer systems, elevators). Accessory equipment includes portable factory equipment and tools (hand tools, lift trucks) and office equipment (fax machines, desks). They have a shorter life than installations and simply aid in the production process.


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The final group of business products is supplies and services. Supplies include operating supplies (lubricants, coal, paper, pencils) and repair and maintenance items (paint, nails, brooms). Supplies are the convenience products of the industrial field because they are usually purchased with a minimum of effort or comparison. Business services include maintenance and repair services (window cleaning, computer repair) and business advisory services (legal, management consulting, advertising). Such services are usually supplied under contract.


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hMIDTERM EXAMINATION Spring 2010

MGT301- Principles of Marketing Time: 60 min

Marks: 47

Question No: 1 ( Marks: 1 ) - Please choose one

Your firm has just developed its first successful MIS. It interacts with information users to assess information needs, develop needed information, _____ the marketing information and help managers use it in their decision making. ► Distribute ► Collect ► Retrieve ► Store Question No: 2 ( Marks: 1 ) - Please choose one People are expected to perform activities according to the persons around them. These activities reflect which one of the following concept? ► Motive ► Role ► Lifestyle ► Tradition Question No: 3 ( Marks: 1 ) - Please choose one Companies are refraining to use poisonous gases in the manufacturing of their products to prevent damage to the environment. The companies are trying to follow: ► Production Concept ► Product Concept ► Marketing Concept ► Societal Marketing Concept Question No: 4 ( Marks: 1 ) - Please choose one If Proctor and Gamble need to know what percentage of customers examines product labels before making a product selection in the supermarket? By which method this study would be accomplished? ► Focus groups ► Mail surveys ► Personal interviews ► Observations Question No: 5 ( Marks: 1 ) - Please choose one Advertising agencies are an example of which of the following marketing intermediaries? ► Insurance company ► Financial intermediary


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► Marketing services agency ► Physical distribution firm Question No: 6 ( Marks: 1 ) - Please choose one Through which process individuals and groups obtain what they need and want by creating and exchanging products and value with others? ► Production process ► Marketing process ► Managerial process ► accounting process Question No: 7 ( Marks: 1 ) - Please choose one Which one of the following scheme is TRUE regarding marketing research in sequence? ► Gathering data, analysis, interpretation ► Analysis, gathering data, interpretation ► Interpretation, gathering data, analysis ► Interpretation, reporting, analysis Question No: 8 ( Marks: 1 ) - Please choose one Which method of research can be used to obtain information if people are unwilling or unable to provide? ► Observations ► Focus groups ► Personal interviews ► Questionnaires Question No: 9 ( Marks: 1 ) - Please choose one When a church targets different demographic groups to increase attendance, it is an example of which of the following options? ► Not-for-profit marketing ► Mindless marketing ► Ethics in marketing ► Societal marketing Question No: 10 ( Marks: 1 ) - Please choose one Sampling requires the answer to three questions. Which of the following is an inappropriate one? ► Who is to be sampled (what sampling unit)? ► How many people should be surveyed (what sample size)? ► Why should they be sampled (justification)? ► How should the people be chosen (what sampling method)? Question No: 11 ( Marks: 1 ) - Please choose one Relationship marketing is a consistent application of up to date knowledge of individual customers to product and service design. Why it is communicated interactively to customers?


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► For delivering short term value & satisfaction to customers ► For delivering long term value & satisfaction to customers ► For delivering short term value to management ► For delivering long term value to management Question No: 12 ( Marks: 1 ) - Please choose one Demographic segmentation divides the market into groups based on which of the following variables? ► Size, location, industry, customer ► Size, company, industry, technology ► Location, size, occupation, race ► Customer, technology, company, industry Question No: 13 ( Marks: 1 ) - Please choose one When the size, purchasing power and profiles of business market segments can be determined, they are said to possess the requirement of being what? http://vustudents.ning.com ► Measurable ► Accessible ► Substantial ► Actionable Question No: 14 ( Marks: 1 ) - Please choose one Which one of the following sets reflects the marketing strategy statement in new product development? ► Idea generation; idea screening; concept development ► Idea generation; concept development; concept testing ► Target market description; planned product positioning; sales goals ► Idea generation; test marketing; commercialization Question No: 15 ( Marks: 1 ) - Please choose one The concepts of exchange and relationships lead to the concept of a market. Which one of the following sets reflects the market? ► Actual buyers & Potential buyers ► Whole sellers & Retailers ► Consumers & Customers ► Agents & Brokers Question No: 16 ( Marks: 1 ) - Please choose one Which one of the following sets represents 4 C’s of the marketing mix? ► Customer solution, cost, convenience, communication ► Customer, cost, convenience, comfort ► Convenience, communication, coverage, cost ► Cost, coverage, communication, consultancy Question No: 17 ( Marks: 1 ) - Please choose one Supply's sales force of ABC Company continues to expand, the firm plans to add a fleet


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of company cars to its sales compensation package. For ABC Company, this would represent which one of the following purchases? ► New-task ► Modified rebuy ► Straight rebuy ► Repetitive Question No: 18 ( Marks: 1 ) - Please choose one The Cost to attract a new customer is how much more than to keep a current customer satisfied. ► 5 to 10 times ► 6 to 12 times ► 10 to 20 times ► 10 to 15 times Question No: 19 ( Marks: 1 ) - Please choose one XYZ retail store tries to satisfy all its customers and makes every effort in achieving its sales. This is because they believe that losing a customer means not only losing a single sale but the entire stream of purchase that customer will make in his life time of patronage. This phenomenon is known as: ► Customer Lifetime Value ► Customer Equity ► Superior Customer Value ► Customer Satisfaction Question No: 20 ( Marks: 1 ) - Please choose one Which one of the following options refers to “The art and science of choosing target markets and building profitable relationships”? ► Customer relationship management ► Knowledge management ► Total quality management ► Marketing management Question No: 21 ( Marks: 1 ) - Please choose one In Boston Consulting Group approach, which one of the following options provides a measure of market attractiveness? ► Business portfolio ► Market share ► Market growth rate ► Relative market share Question No: 22 ( Marks: 1 ) - Please choose one The process in which individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires is known as: ► All of the given options ► Consumer behavior


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► Supplier behavior ► Organizational behavior Question No: 23 ( Marks: 1 ) - Please choose one Brand created and owned by the producer of a product or service is called: ► National Brand ► Private Brand ► License Brand ► Co-branding Question No: 24 ( Marks: 1 ) - Please choose one Marketing management functions in ascending order are: ► Control – implementation – market planning ► Market planning – control – implementation ► Implementation – control – market planning ► Marketing planning – implementation - control Question No: 25 ( Marks: 1 ) - Please choose one The marketing mix consists of the four Ps: product, price, place, and promotion. In this modern marketing era, these tools might be more appropriately named the four Cs: Customer solution, Customer cost, Communication and ___________. ► Customer control ► Convenience ► Consideration ► Customer relationship Question No: 26 ( Marks: 1 ) - Please choose one Launching a product in a small part of the market is called: ► Test marketing ► Product testing ► Marketing analysis ► All of the given Question No: 27 ( Marks: 1 ) - Please choose one The Planning which is concerned with translating the general goals and plans developed by strategic managers into objectives that are more specific is called: ► Strategic Planning ► Tactical Planning ► Operational Planning ► Mission Planning Question No: 28 ( Marks: 1 ) - Please choose one In a business market the buyer has to make the most amount of decisions while making a: ► Straight rebuy ► New task ► Modified rebuy


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► None of the given options Question No: 29 ( Marks: 1 ) - Please choose one Manufacturers of surf excel are successful in making their product occupy a desirable place in the hearts of its customers. Now surf excel is considered as a powerful all purpose family detergent. The marketers have successfully ___________ its product. ► Differentiated ► Targated ► Positioned ► Segmented Question No: 30 ( Marks: 1 ) - Please choose one XYZ companying is designing different products for different age groups. They are keeping in mind the needs, wants and demands of the different age groups so that their product would prove successful and profitable. XYZ is practicing ► Mass marketing ► Segment marketing ► Niche marketing ► All of the given options Question No: 31 ( Marks: 1 ) - Please choose one A good package may: ► Protect the product ► Help to sell the product ► Raise total distribution cost ► All of the given options Question No: 32 ( Marks: 1 ) - Please choose one Which of the following steps in strategic planning occurs at the business unit level rather than the corporate level? ► Defining the company mission ► Planning marketing strategies ► Setting companies objectives and goals ► Designing the business portfolio Question No: 33 ( Marks: 1 ) - Please choose one Which of the following options refers to “New Products”? ► Product modifications ► Product improvements ► New brands that a firm develops ► All of the given options http://vustudents.ning.com Question No: 34 ( Marks: 1 ) - Please choose one A political force is one of the actors of marketing macro environment. It is difficult for the marketers to deal with the political environment because: ► It is simple to recognize


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► It is beyond their control ► It is easily ignored ► It is easily influenced Question No: 35 ( Marks: 3 ) Differentiate between performance quality and conformance quality of the product. Quality is one of the marketer's major positioning tools. Product quality has two dimensions—level and consistency. In developing a product, the marketer must first choose a quality level that will support the product's position in the target market. Here the product quality means performance quality—the ability of a product to perform its functions beyond quality level, high quality also can mean high levels of quality consistency. Here, product quality means conformance quality—freedom from defects and consistency in delivering a targeted level of performance. All companies should strive for high levels of conformance quality. Question No: 36 ( Marks: 5 ) List down the factors which plays important role for the development and marketing of individual products and services? Question No: 37 ( Marks: 5 ) How many stages are involved in adoption process?

Question: What would a researcher need to know about drawing conclusions about large groups of consumers by studying a small sample of the total population and how many kinds of samples will be studied by researcher?

Sampling plans are used to outline how samples will be constructed and used. 1. A sample is a segment of the population selected for marketing research to represent the population as a whole. 2. Marketing researchers usually draw conclusions about large groups of consumers by studying a small sample of the total consumer population. 3. Designing a sample calls for three decisions:

a. Who is to be surveyed (what sampling unit)? b. How many people should be surveyed (what sample size)? c. How should the sample be chosen (what sampling procedure)?

4. Kinds of samples include: a. Probability samples--each population member has a known chance of being included in the sample, and researchers can calculate confidence limits for sampling error. b. Non probability samples--sampling error cannot be measured.

Question No: 37 ( Marks: 5 ) Differentiate between demographic and geographic segmentation. a) Geographic Segmentation Geographic segmentation calls for dividing the market into different geographical units such as nations, regions, states, counties, cities, or neighborhoods. A company may decide to operate in one or a few geographical areas, or to operate in all areas but pay attention to geographical differences in needs and wants. It is common to localize products, advertising,


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promotions, and sales efforts to fit the needs of geographical areas (regions, cities, and even neighborhoods). b) Demographic Segmentation Demographic segmentation divides the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, and nationality. Demographic factors are the most popular bases for segmenting customer groups. One reason is that consumer needs, wants, and usage rates often vary closely with demographic variables. Another is that demographic variables are easier to measure than most other types of variables. Even when market segments are first defined using other bases, such as benefits sought or behavior, their demographic characteristics must be known in order to assess the size of the target market and to reach it efficiently. Demographic variables are easier to measure than most other types of variables.

I. Age and Life-Cycle Stage. Age and life cycle segmentation consists of offering different products or using different marketing approaches for different age and life-cycle groups. Marketers must guard against stereotypes when using this form of segmentation. While certain age and life cycle groups do behave similarly, age is often a poor predictor of a person’s life cycle, health, work or family status, needs, and buying power. Consumer needs and wants change with age. Some companies use age and life cycle segmentation, offering different products or using different marketing approaches for different age and life-cycle groups. II. Gender segmentation. Calls for dividing a market into different groups based on sex. This segmentation form has long been used for clothing, cosmetics, toiletries, and magazines. New opportunities in this area are emerging such as automobiles, deodorants, and financial services. There is an increased emphasis on marketing and advertising to women. Specialized Web sites are becoming very popular with this group. III. Income segmentation. It consists of dividing a market into different income groups. Marketers for automobiles, boats, clothing, cosmetics, financial services, and travel have long used this form of segmentation. Using this form, marketers must remember that they do not always have to target the affluent. Other income groups are also viable and profitable market segments.


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MIDTERM EXAMINATION Spring 2010

MGT301- Principles of Marketing (Session - 2) Ref No: 1433917

Time: 60 min Marks: 47

Student Info StudentID: MC100200011

Center: OPKST

ExamDate: 5/28/2010 12:00:00 AM

For Teacher's Use Only Q No. 1 2 3 4 5 6 7 8 Total

Marks

Q No. 9 10 11 12 13 14 15 16

Marks

Q No. 17 18 19 20 21 22 23 24

Marks

Q No. 25 26 27 28 29 30 31 32

Marks

Q No. 33 34 35 36 37

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Question No: 1 ( Marks: 1 ) - Please choose one

If XYZ Insurance Company observes a sudden increase in the number of farmers seeking flood insurance in Pakistan due to major floods in India, Which one of the following is representing flood situation for the company? ► Marketing opportunity http://vustudents.ning.com ► Marketing strategy ► Marketing concept ► Marketing threat Question No: 2 ( Marks: 1 ) - Please choose one All of the following are accurate descriptions of a company’s mission statement, EXCEPT which one? ► Mission statement should fit the market environment ► Mission statement should be realistic ► Mission statement should be broad ► Mission statement should be motivating Question No: 3 ( Marks: 1 ) - Please choose one Advertising agencies are an example of which of the following marketing intermediaries? ► Insurance company ► Financial intermediary ► Marketing services agency ► Physical distribution firm Question No: 4 ( Marks: 1 ) - Please choose one "How people feel about corporations, government agencies, trade unions and universities" refers to which of the following views? ► People's view of others ► People's view of societies ► People's view of themselves ► People's view of organizations Question No: 5 ( Marks: 1 ) - Please choose one Your marketing department is attempting to improve strategic decision making, assess and track competitors’ actions and provide early warning of opportunities and threats. For this purpose which of the following will be used by your department? ► Internal databases ► External databases ► Marketing intelligence ► Company reports only Question No: 6 ( Marks: 1 ) - Please choose one Which one of the following scheme is TRUE regarding marketing research in sequence? ► Gathering data, analysis, interpretation


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► Analysis, gathering data, interpretation ► Interpretation, gathering data, analysis ► Interpretation, reporting, analysis Question No: 7 ( Marks: 1 ) - Please choose one If ABC Ltd knows that its market share in Pakistan has dropped 13 percent in the first quarter of the year but does not know what might have contributed to this decline, it is in which stage of the marketing research process? ► Hypothesis development ► Symptom identification ► Problem identification ► Data interpretation Question No: 8 ( Marks: 1 ) - Please choose one Which one of the following option refers to the set of actions and activities associated with each position one holds within a family, clubs and organizations? ► Personality ► A role ► Perception ► An attitude Question No: 9 ( Marks: 1 ) - Please choose one This type of segmentation centers on the use of the word “when” such as when consumers get the idea to buy, when they actually make their purchase, or when they use the purchased item. What do marketers call this? ► Behavioral ► Occasion ► Impulse ► Emergency Question No: 10 ( Marks: 1 ) - Please choose one Which of the following are those products purchased for further processing or for use in conducting a business? ► Unsought products ► Specialty products ► Shopping products ► Industrial products Question No: 11 ( Marks: 1 ) - Please choose one Which of the following are a form of product that consists of activities, benefits or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything? ► Line extensions ► Services ► Brands ► Supplements


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Question No: 12 ( Marks: 1 ) - Please choose one When a company introduces additional items in a given product category under the same brand name, such as new flavors, forms, colors, ingredients, or package sizes refers to which of the following steps? ► Line extensions ► Product mix ► Service variability ► Service intangibility Question No: 13 ( Marks: 1 ) - Please choose one A threat is a major unfavorable situation in a firm’s environment. Threats are key impediments to the firm’s current or desired position. Which one of the following represents threat to a firm’s success? ► Relaxation of international tariffs ► The entrance of new competitors in the market ► Undifferentiated products or services ► Cost advantages present because of advanced technology Question No: 14 ( Marks: 1 ) - Please choose one Developing and maintaining a strategic fit between the organization’s goals and capabilities, and its changing marketing opportunities represent which one of the following concepts? ► Marketing objectives ► Strategy planning ► Marketing activities ► Corporate strategies Question No: 15 ( Marks: 1 ) - Please choose one The publishers of “The Economist” developed a campaign to market the magazine to university and college students studying business and management courses. The publishers are focusing on which of the following strategies? ► Product development ► Horizontal diversification ► Market development ► Conglomerate diversification Question No: 16 ( Marks: 1 ) - Please choose one Mr. ABC examined his firm's recently completed market attractiveness-business position model; he finds that the firm's sport sunglasses unit is high on both dimensions. Which one of the following strategies would this placement dictate? ► Invest ► Harvest ► Divest ► Maintain Question No: 17 ( Marks: 1 ) - Please choose one


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Chimney Sweeps employs people to clean fireplaces and chimneys in homes and apartments. The firm is primarily the marketer of which one of the following?

► An image ► A service ► A good ► An idea Question No: 18 ( Marks: 1 ) - Please choose one Which one of the following product requires a lot of advertising, personal selling and other marketing efforts because consumer either does not know about it or knows about it but does not normally think about buying? ► Specialty products ► Shopping products ► Industrial products ► Unsought products Question No: 19 ( Marks: 1 ) - Please choose one According to Peter Drucker goal of all organizations is to gain and retain customers. This is accomplished through: ► Marketing and Innovation ► Finance and Marketing ► Human resource and Marketing ► Finance and Human Resource Question No: 20 ( Marks: 1 ) - Please choose one The Company, Suppliers, Marketing Intermediaries and Customers are included in the company’s: ► Marketing environment ► Microenvironment ► Macroenvironment ► All of the given options Question No: 21 ( Marks: 1 ) - Please choose one Identify three considerations companies should balance when setting their marketing strategies. ► Company profits, society's interests, and consumer wants ► Existing products, customer needs, and market trends (Not so sure if we take that word balance away than this is the write ans sure) ► Customer wants, integrated marketing techniques, and profit margins ► Selling concepts, product integrity, and customer base Question No: 22 ( Marks: 1 ) - Please choose one The marketing concept expresses the company's commitment to: ► Organizational goals ► An integrated company effort


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► Consumer sovereignty ► All of the given options Question No: 23 ( Marks: 1 ) - Please choose one Which one of the following options best explains the purpose of intranets? ► Buying and selling processes ► Business-to-business purchasing ► Communication among employees ► Maintaining customer relations Question No: 24 ( Marks: 1 ) - Please choose one Which of the following steps in strategic planning occurs at the business unit level rather than the corporate level? ► Defining the company mission ► Planning marketing strategies ► Setting companies objectives and goals ► Designing the business portfolio Question No: 25 ( Marks: 1) - Please choose one Which of the following is the study of the human population in terms of size, density, locations, gender, race, occupation and other statistics. ► Psychographics ► Demography ► Philosophy ► Social psychology Question No: 26 ( Marks: 1) - Please choose one To develop effective marketing programs, companies need information on which of the following? ► Consumers ► Competitors ► Resellers ► All of the given options Question No: 27 ( Marks: 1) - Please choose one How is online marketing research conducted? ► By collecting primary data through internet surveys and online focus groups ► By collecting secondary data through the internet ► By collecting primary data through the secondary websites ► None of the given options Question No: 28 ( Marks: 1 ) - Please choose one Identify the three decisions made when designing a sampling plan. ► Identifying the sampling unit, sample size and the sampling procedure ► Identifying the research problem, designing the research plan and implementing it


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► Identifying the sampling unit, constructing a research design and the sampling procedure ► Identifying the research plan, planning a sample size and market segmentation Question No: 29 ( Marks: 1 ) - Please choose one http://vustudents.ning.com Which of the following are NOT consider to be stimuli that enter as inputs into the model of buyer behavior? ► Cultural Factors ► Economic Factors ► Marketing Mix ► Post purchase Behavior Question No: 30 ( Marks: 1 ) - Please choose one The tendency for people to screen out most of the information to which they are exposed is called: ► Selective Attention ► Selective Retention ► Selective Distortion ► None of the given option Question No: 31 ( Marks: 1 ) - Please choose one KPV firm has limited resources. Which marketing strategy would you suggest that KPV should adopt? ► Concentrated Marketing ► Differentiated Marketing ► Undifferentiated Marketing ► None of the given option Question No: 32 ( Marks: 1 ) - Please choose one http://vustudents.ning.com All of the following are characteristics which make up the actual product EXCEPT: ► Quality level ► Brand Name ► Features ► After-sales services Question No: 33 ( Marks: 1 ) - Please choose one Mr. A started his business by manufacturing small cheaper cars. As his business blossomed he decided to manufacture expensive luxury cars to add prestige to his current products. Mr. A was stretching his product line: ► Upwards ► Downwards ► Both ways ► None of the given options Question No: 34 ( Marks: 1 ) - Please choose one At the maturity stage of the life cycle, the company has an opportunity to prolong the life


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of its products in many ways. When a company tries to __________ the company is trying to increase the consumption of the current product ► Substitute the product ► Modify the distribution channel ► Modify the market ► Modify the product Question No: 35 ( Marks: 3 ) Differentiate between performance quality and conformance quality of the product. Question No: 36 ( Marks: 5 ) What would a researcher need to know about drawing conclusions about large groups of consumers by studying a small sample of the total population and how many kinds of samples will be studied by researcher? Question No: 37 ( Marks: 5 ) Differentiate between demographic and geographic segmentation. http://vustudents.ning.com


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Mid Term 2010 - api.ning.comapi.ning.com/files/Jwk68Dr3pzP0ZyblJKMadg0... · 03 Solved Mid Term Papers of MGT301 Spring 2010 ... Company has several target markets Company is market