This quiz works best with JavaScript enabled. Home > Economy > Business > Marketing Management – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Marketing Management Quiz 7 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following must appear on your resume: A) Marital status. B) Education. C) Date of birth. D) List of references. Show Answer Correct Answer: B) Education. 2. This refers to the customer's assessment of the benefits gained from the product or service compared to the cost and competing offers on the market A) Perceived value. B) Expected value. C) Mutual benefit. D) Customer choice. Show Answer Correct Answer: A) Perceived value. 3. The product concept focus on the A) Quantity of a product produced. B) Quality and performance of a product produced. C) Maximising sales. D) Company which produced the product. Show Answer Correct Answer: B) Quality and performance of a product produced. 4. Hu Jintao, the dictator of China, makes the decisions which affect the jobs and living conditions of people living in China. The economic system in China is closer to which economic system? A) Command. B) Market. C) Tradionalist. D) Mixed. Show Answer Correct Answer: A) Command. 5. Procter & Gamble manufactures a variety of brands under one category. An example is shampoo with brands such as Pantene, Herbal Essences, and Head and Shoulders. For shampoo, Procter & Gamble would appropriately use A) Marketing services management. B) Brand management. C) Category management. D) Integrated management. E) Regional management. Show Answer Correct Answer: C) Category management. 6. In searching out suppliers, industrial purchasers should obtain ..... from potential vendors. A) Resource files. B) Purchasing orders. C) Buying plans. D) Price quotations. Show Answer Correct Answer: D) Price quotations. 7. In this stage of the product life cycle, investment expenses are extremely high and there are no sales yet A) Growth. B) Introduction. C) Product Development. D) Maturity. E) Decline. Show Answer Correct Answer: C) Product Development. 8. In this stage of the product life cycle, sales of the product fall and companies cut prices as well as advertising and promotions of the product. A) Growth. B) Introduction. C) Product Development. D) Maturity. E) Decline. Show Answer Correct Answer: E) Decline. 9. Considering a continuum from mass marketing to one-to-one marketing, marketing segmentation is A) Very close to mass marketing. B) Very close to one-to-one marketing. C) In the middle. D) On a different continuum. Show Answer Correct Answer: C) In the middle. 10. Which of the following is the right time for a business to make promotional decisions in relation to product, price, and distribution decisions: A) After product, price, and distribution. B) Before product, price, and distribution. C) Along with product, price, and distribution. D) Without considering product, price, and distribution. Show Answer Correct Answer: A) After product, price, and distribution. 11. A company wants to know why sales of a certain product are not growing. Its purpose in conducting marketing research is to ..... A) Monitor. B) Test hypotheses. C) Explain. D) Predict. Show Answer Correct Answer: C) Explain. 12. What is the enviroment of Marketing Management? A) School. B) Anywhere that plays the role of market. C) Traditional market. D) Modern market. Show Answer Correct Answer: B) Anywhere that plays the role of market. 13. What type of business policy is designed to attract customers by making the purchasing experience more convenient for them? A) Flexible. B) Employee. C) Product. D) Service. Show Answer Correct Answer: D) Service. 14. There is a rule of thumb that says it costs ..... times more to acquire a new customer compared to maintaining a loyal one. A) 3. B) 6. C) 9. D) 12. Show Answer Correct Answer: B) 6. 15. Manufacturer uses wholesalers and retailers to distribute goods to the customers. Which level channel of distribution is the manufacturer using- A) Zero. B) One. C) Two. D) Multi. Show Answer Correct Answer: C) Two. 16. An organization is gathering, recording, and analyzing data about its target market. This activity is known as ..... A) Marketing research. B) Test marketing. C) Performing a case study. D) Conducting experiments. Show Answer Correct Answer: A) Marketing research. 17. The marketing concept which aims to increase profit from economies of scale A) Marketing concept. B) Product concept. C) Societal marketing concept. D) Production concept. Show Answer Correct Answer: D) Production concept. 18. Select the factor based on the explanation:Companies will modify or change their products to meet the needs of customers based upon research and customers comments. It is important that they keep up with demand. A) Product Line (Depth, Extension & Contraction). B) Branding. C) Packaging. D) Product Modification. E) Repositioning. Show Answer Correct Answer: D) Product Modification. 19. When can core businesses change? A) When customers demand it. B) When a firm updates their software. C) When a firm's competencies change. D) When a firm outsources. Show Answer Correct Answer: C) When a firm's competencies change. 20. Which of the following help a business keep stock based on sales and allow them to spend money based on a planned budget? A) Dollar Control. B) Unit Control. C) Stock Turnover. D) Stock lists. Show Answer Correct Answer: B) Unit Control. ← PreviousNext →Related QuizzesEconomy QuizzesMarketing Management Quiz 1Marketing Management Quiz 2Marketing Management Quiz 3Marketing Management Quiz 4Marketing Management Quiz 5Marketing Management Quiz 6Marketing Management Quiz 8Marketing Management Quiz 9Marketing Management Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books