MGT301 Mid Term Solved Past paper - VULMS-Virtual University Of Pakistan

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MGT301 Mid Term Solved Past paper


MIDTERM  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
    http://vustudents.ning.com
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
       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? http://vustudents.ning.com

       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?  http://vustudents.ning.com

       ► 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?
       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 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
    http://vustudents.ning.com
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
       ► 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             not sure     ( may he want to ask about controlled test)
       ► 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
       ► 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           (it not look so broad)
       ► All of the given options
    http://vustudents.ning.com
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
   
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
       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. 
    Answer page 95 will clear.. see product quality
Question No: 36    ( Marks: 5 )
 List down the factors which plays important role for the development and marketing of individual products and services?
    Answer= I believe control and modification in marketing mix is right.
Question No: 37    ( Marks: 5 )  http://vustudents.ning.com
 How many stages are involved in adoption process? 
Answer= awareness . interest, evaluation, trial and adopt.