This quiz works best with JavaScript enabled. Home > Economy > Business > Marketing Management – Quiz 25 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Marketing Management Quiz 25 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Name the strategy which adds a higher priced prestigious product to the existing line of lower priced products? A) Trading-Up. B) Trading-Down. C) Product differentiation. D) Product simplification. Show Answer Correct Answer: A) Trading-Up. 2. Which is the pattern of segmentation wherein the firms view each customer as a separate segment? A) Undifferentiated marketing. B) Concentrated marketing. C) Customized marketing. D) Differentiated marketing. Show Answer Correct Answer: C) Customized marketing. 3. Which of the following is not one of the criteria needed for exchange to take place A) A desire and ability to satisfy them. B) Communication between parties. C) Free to accept but not reject the other's offer. D) Something to change. Show Answer Correct Answer: C) Free to accept but not reject the other's offer. 4. A professional in the ..... pathway collect and analyze many different types of information to design new products, to predict future sales and to position their own company's strategies against those of its competitors. a. Professional Sales b. Marketing and Communications c. Merchandising d. Marketing Research A) A. B) B. C) C. D) D. Show Answer Correct Answer: D) D. 5. A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. A) Marketing. B) Management. C) Marketing Management. D) All of these. Show Answer Correct Answer: A) Marketing. 6. In which stage of New product development Management needs to prepare sales, cost, and profit projections to determine whether they satisfy company objectives? A) Idea screening. B) Concept development and testing. C) Business Analysis. D) Product development. Show Answer Correct Answer: C) Business Analysis. 7. Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain? A) Production concept. B) Product concept. C) Selling concept. D) Marketing concept. E) Societal marketing concept. Show Answer Correct Answer: A) Production concept. 8. Marketers study the psychological significance of pricing because the price A) Leads to value and quality perceptions to a customer. B) Helps suppliers know how much to charge a business for purchasing their product. C) Gives managers an opportunity to learn things about customers. D) Offers customers the ability to purchase a product. Show Answer Correct Answer: A) Leads to value and quality perceptions to a customer. 9. What is the center of all marketing activities? A) Math. B) Technological know-how. C) Purchasing. D) Communication. Show Answer Correct Answer: D) Communication. 10. A market survey is required for ..... A) Deciding Marketing Strategies. B) Deciding Product Strategies. C) Deciding Pricing Strategies. D) All of Above. Show Answer Correct Answer: D) All of Above. 11. Which of the following is correct with reference to main focus of marketing philosophies? A) Production concept-Customer needs. B) Product concept-Quantity of products. C) Selling concept-Existing products. D) Marketing concept-Quality of products. Show Answer Correct Answer: C) Selling concept-Existing products. 12. Max always uses Tide laundry soap because he has seen his mother using it ever since. Which factor influences Max's buying behavior? A) Cultural Factors. B) Social Factors. C) Personal Factors. D) Psychological Factors. Show Answer Correct Answer: B) Social Factors. 13. 'Colgate' is a A) Generic name of a product. B) Brand name of a product. C) Brand mark of a product. D) None of above. Show Answer Correct Answer: B) Brand name of a product. 14. Which of the following refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs? A) Satisfaction. B) Marketing management. C) Value proposition. D) Marketing myopia. Show Answer Correct Answer: D) Marketing myopia. 15. Which is the overall reason that marketing strategies are designed and implemented? A) Improving management techniques. B) Achieving planned goals. C) Changing the image of the business. D) Increasing business profits immediately. Show Answer Correct Answer: B) Achieving planned goals. 16. When a company has a chance of losing money, this is an example of which of the following: A) Competition. B) Risk. C) Monopoly. D) Productivity. Show Answer Correct Answer: B) Risk. 17. THIS TOOL IS PROPOSED BY MICHAEL PORTER AND IT IS USE FOR IDENTIFYING WAYS TO CREATE MORE CUSTOMER VALUE A) VALUE DELIVERY. B) VALUE CREATION. C) VALUE CHAIN. D) VALUE PROPOSITION. Show Answer Correct Answer: C) VALUE CHAIN. 18. Which of the following is concerned with the quality performance of product? A) Product concept. B) Selling concept. C) Marketing concept. D) Societal marketing concept. Show Answer Correct Answer: A) Product concept. 19. Selling price helps customers to allocate their money because price determines A) What customers need to purchase. B) The value of products to all purchasers. C) What customers can afford to purchase. D) The quality of all goods and services. Show Answer Correct Answer: C) What customers can afford to purchase. 20. Which of the following is a true statement about marketing-plan formats? A) They vary from business to business. B) They must be double-spaced. C) They must include charts and graphs. D) They must put situation analysis before desired target market. Show Answer Correct Answer: A) They vary from business to business. ← PreviousNext →Related QuizzesEconomy QuizzesMarketing Management Quiz 1Marketing Management Quiz 2Marketing Management Quiz 3Marketing Management Quiz 4Marketing Management Quiz 5Marketing Management Quiz 6Marketing Management Quiz 7Marketing Management Quiz 8Marketing Management Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books