MKT501 MIDTERM past paper

Question No: 1 ( Marks: 1 ) - Please choose one
A market leader firm can expand the total market through:

► Decreasing distribution of the product
► Introducing the new usage of the product
► Eliminating some features of product
► Increasing cost

Question No: 2 ( Marks: 1 ) - Please choose one
The strategy which involves creating a product that is perceived as unique and should provide superior value for the customer is called:
► Market segmentation strategy
► Market dominance strategy
► Differentiation strategy
► Cost leadership strategy

Question No: 3 ( Marks: 1 ) - Please choose one
Life insurance is an example of which of the following goods?
► Convenience
► Expected
► Shopping
► Unsought

Question No: 4 ( Marks: 1 ) - Please choose one
Aggressive pricing is associated with which of the following stage of product life cycle?
► Introduction
► Growth
► Maturity
► Decline

Question No: 5 ( Marks: 1 ) - Please choose one
Which of the following is NOT a common reason of decline in the product sales?
► Consumer tastes change
► Competition increases
► Technology advances
► Increase in product demand

Question No: 6 ( Marks: 1 ) - Please choose one
New product development process starts with which of the following stages?
► Idea development
► Idea screening
► Research
► Idea generation

Question No: 7 ( Marks: 1 ) - Please choose one
Which of the following step involves determining the Compatibility of product idea with company objectives, needs, and resources on a general level?
► Business analysis
► Idea generation
► Idea screening
► Product development

Question No: 8 ( Marks: 1 ) - Please choose one
Which come(s) under the category of new product?

► New product lines
► Product improvements
► Cost reductions
► All of the given options

Question No: 9 ( Marks: 1 ) - Please choose one
Which of the following is the degree to which new product matches the values and experiences of the individuals in the community?

► Innovation communicability
► Innovation divisibility
► Innovation compatibility
► Innovation complexity

Question No: 10 ( Marks: 1 ) - Please choose one
Which of the following is less likely to damage reputations of a brand if a new product fails?
► Brand extension branding
► Individual branding
► Overall family branding
► Line family branding

Question No: 11 ( Marks: 1 ) - Please choose one
Packaging used for the ice creams is an example of which of the following?

► Decorative packaging
► Transport packaging
► Secondary packaging
► Primary packaging

Question No: 12 ( Marks: 1 ) - Please choose one
Which of the following is also known as dual branding?
► Private brand
► Multibrand
► Co-brand
► New brand

Question No: 13 ( Marks: 1 ) - Please choose one
When two or more well known brands are combined in an offer it is called:

► Private brand
► Multibrands
► Co-brand
► New brand

Question No: 14 ( Marks: 1 ) - Please choose one
A company has different choices when it comes to developing brands. Which is not one of those choices?
► Width and depth extension
► Multibrands
► Brand extension
► Line extension

Question No: 15 ( Marks: 1 ) - Please choose one
Which of the following is a brand created and owned by a larg retailer of a product after purchasing in large quantity from manufacturer?

► Co-brand
► Private brand
► Manufacturer's brand
► Licensed brand

Question No: 16 ( Marks: 1 ) - Please choose one
Tarang milk is an example of which of the following?
► Corporate brand
► Co-brand
► Individual brand
► Family brand

Question No: 17 ( Marks: 1 ) - Please choose one
Which of the following marketing mix element generates revenue?

► Promotion
► Price
► Place
► Product


Question No: 18 ( Marks: 1 ) - Please choose one
Which of the following sets floor for the price that company can charge for its product?
► Demand
► Premium
► Promotion
► Cost

Question No: 19 ( Marks: 1 ) - Please choose one
Which of the following is price reduction offered when an order is placed in slack/drooping period?


► Cash discount
► Trade discount
► Quantity discount
► Seasonal discount

Question No: 20 ( Marks: 1 ) - Please choose one
Identify the other term used for the trade discounts.
► Promotional discount
► Functional discount
► Quantity discount
► Seasonal discount

Question No: 21 ( Marks: 1 ) - Please choose one
3/10 net 30 is an example of which of the following?
► Seasonal discount
► Trade discount
► Quantity discount
► Cash discount

Question No: 22 ( Marks: 1 ) - Please choose one
The buyer at ABC Furniture Store is informed that if he/she will increase his/her recent order of fifteen mattress sets to twenty, she will receive a 14 percent price reduction. This offer is due to a recent overstock condition at the factory and will not be available in the future. What is the type of discount offered by ABC Furniture store?
► Trade
► Seasonal
► Non-cumulative
► Promotional

Question No: 23 ( Marks: 1 ) - Please choose one
Which of the following best describes 3/10 net 40 ROG?

► The buyer must pay within 10 days of receipt of goods but will receive 3% discount if paid in 10 days
► The buyer must pay within 3 days of receipt of goods but will receive 10% discount if paid in 40 days
► The buyer must pay within 10 days of receipt of goods but will receive 3% discount if paid in 40 days
► The buyer must pay within 40 days of receipt of goods but will receive 3% discount if paid in 10 days

Question No: 24 ( Marks: 1 ) - Please choose one
A company is providing warehousing facility to its channel members. The company is using which of the following?
► Seasonal discount
► Trade discount
► Quantity discount
► Cash discount

Question No: 25 ( Marks: 1 ) - Please choose one
Market-penetration pricing will likely to be used most in selling which of the following items?
► Specialty
► Convenience
► Unsought
► Pharmaceuticals

Question No: 26 ( Marks: 1 ) - Please choose one
The price of which of the following is lower than the cost and is used to drag customers into a store where they are likely to buy other products.
► Consumer promotion
► Discounted product
► On-sale item
► Loss leader

Question No: 27 ( Marks: 1 ) - Please choose one
To attract customers into stores, the store advertises its milk at a price less than cost, hoping that customers will purchase other groceries as well. Milk is acting as which of the following?
► Premium item
► On- sale item
► Discounted item
► Loss leader

Question No: 28 ( Marks: 1 ) - Please choose one
Many companies try to set a price that will maximize current profit. This strategy assumes that company has knowledge of its:
► Cost and production function
► Revenue and cost function
► Demand and market function
► Demand and cost function

Question No: 29 ( Marks: 1 ) - Please choose one
Which of the following markets require developing a superior product and packaging along with continuous advertising?
► Consumer markets
► Business markets
► Global markets
► Non profit/government markets

Question No: 30 ( Marks: 1 ) - Please choose one
A lot of time is required in establishing great brand image to be successful in:

► Global Product marketing
► Consumer Product marketing
► Governmental marketing
► Domestic product marketing

Question No: 31 ( Marks: 1 ) - Please choose one
Which of the following 4Ps of marketing mix involves in decisions regarding channels coverage, assortments, locations, inventories or transports?

► Product
► Price
► Place
► Promotion

Question No: 32 ( Marks: 1 ) - Please choose one
The Cargo business covers which of the following decisions under the marketing mix strategy?

► Product
► Price
► Placement
► Promotional

Question No: 33 ( Marks: 1 ) - Please choose one
Customer cost will be considered as which of the following Ps of marketing mix?

► Product
► Price
► Place
► Promotion

Question No: 34 ( Marks: 1 ) - Please choose one
Which of the following is about managing strategically the customer’s entire experience with the product and company?

► Customer experience management
► Customer retention management
► Customer life-time value management
► Customer relationship management

Question No: 35 ( Marks: 1 ) - Please choose one
The loyalty marketing focuses on establishing long term relationship between:

► Company and retailer
► Retailer and customer
► Retailer and consumer
► Company and customer

Question No: 36 ( Marks: 1 ) - Please choose one
When need is directed towards a specific object it is called:

► Actual need
► Want
► Demand
► Satisfaction

Question No: 37 ( Marks: 1 ) - Please choose one
All are the expression of marketing concept EXPECT:

► Meeting needs profitably
► Find wants and fill them
► Sell what is produced
► Love the customer, not the product

Question No: 38 ( Marks: 1 ) - Please choose one
Order processing decisions are related to which of the following?
► Product
► Price
► Distribution
► Promotion

Question No: 39 ( Marks: 1 ) - Please choose one
Which of the following is NOT an aggressiveness strategy?

► Harvesting
► Building
► Intensification
► Holding

Question No: 40 ( Marks: 1 ) - Please choose one
Which of the following is NOT a type of innovation strategy?

► Pioneers
► Challengers
► Close followers
► Late followers

Question No: 41 ( Marks: 10 )
Each stage of product life cycle calls for different marketing strategy. Discuss.