Marketing Management Quiz - 1

1. Which of the following is the value that a buyer obtains from a product and allows the buyer to use the product as he wishes?
[A]Time utility
[B]Place utility
[C]Form utility
[D]Possession utility



2. Which of the following is least likely to be associated with a firm’s macro-environment?
[A]A new staff incentive scheme
[B]Analysis of household savings ratios
[C]Study of the changing birth rate
[D]Cultural convergence



3. A firm accrues the following benefits by retaining its customers except
[A]Increased revenue
[B]Increase in cost of selling
[C]Advertising
[D]Decrease in cost of selling



4. Order processing, inventory management, materials handling, warehousing, and transportation constitute which of the following activities?
[A]Strategic planning
[B]Marketing
[C]Logistics
[D]Channel management



5. The Consumer Protection Act came into force in India in 1986 to safeguard the interest of consumers. A consumer can seek legal help in all of the following conditions except when
[A]A trader adopts unfair trade practices or restrictive trade practices
[B]Goods and services hired or availed suffer from one or more defects or deficiencies
[C]A trader charges a higher price, which is more than the fixed price of the product
[D]A consumer is dissatisfied with the product purchase



6. Customer information system (CIS) is a database that contains specific information about the behavioral and transactional aspects of each customer. This advanced software is helpful in conducting
[A]Financial analysis
[B]Contribution Analysis
[C]Customer profitability analysis
[D]Environmental analysis



7. Which of the following is a form of competition where all the companies compete for the same disposable income of the customers?
[A]Form competition
[B]Industry competition
[C]Generic competition
[D]Brand competition



8. Sanjay Mehta lives with his divorced mother and his sister Kavita. Sanjay wants to buy a skateboard with the money he has saved. Kavita has discovered that the skateboard Sanjay wants to buy does not have any brakes. His mother is afraid he will injure himself on a skateboard and has said, “No.” Which of the following sentences best describes the roles the individual family members played in making this decision?
[A]No family member served as decider
[B]The mother took the role of purchaser, influencer, and decision maker
[C]Kavita acted in the role of influencer and information gatherer
[D]Sanjay only acted in two roles-purchaser and decision maker



9. Reverse marketing is
[A]A method consumers use to increase their influence, power, and rights when dealing with institutions
[B]The deliberate effort by organizational buyers to build relationships that shape suppliers' products, services and capabilities to fit the buyer's needs and those of its customers
[C]A synonym for benchmarking
[D]An industrial buying practice in which organizations agree to purchase each other’s products



10. Ellen was the marketing research director for the local mall. She decided to conduct an experiment in the mall's car park to see if shoppers would respond to a lower parking price to park in some of the under-utilized sections of the car park. Ellen is using which type of market research?
[A]Exploratory
[B]Causal
[C]Descriptive
[D]Investigative



11. Focus on companies that prefer leasing to buying would be an influence of which factor of organizational purchasing approaches to segment industrial markets?
[A]Purchasing function organization
[B]Power structure
[C]Nature of existing policies
[D]General purchase policies



12. Which of the following is a model used to allocate resources to Strategic Business Units of an organization?
[A]Boston Consulting Group (BCG) growth-share matrix
[B]Just-in-time (JIT)
[C]ABC executive judgment planning model
[D]Total Quality Management



13. Turning marketing strategies into specific day-to-day, month-to-month activities is related to which of the following?
[A]Marketing analysis
[B]Marketing planning
[C]Marketing implementation
[D]Marketing control



14. Businesses maintain their market position by making competitive moves to challenge competition. Which of the following has a considerable market share and a significant presence in the industry?
[A]Market challengers
[B]Market followers
[C]Market leaders
[D]Market nichers



15. Among industrial products, large tools and machines used for production of goods or for providing services for a considerable length of time are classified as
[A]Capital equipment
[B]Accessory equipment
[C]Component parts
[D]Raw materials