Question No: 1 ( M a r k s: 1 ) http://vuzs.net
Critical path analysis is a part of which of the following?
► Implementation stage
► Marketing strategies
► Executive summary
► Financial summary
Implementation: Personnel requirements, assigning responsibilities, give incentives, training on selling methods, financial requirements, management information systems requirements, month-by-month agenda, pert or critical path analysis, monitoring results and benchmarks, adjustment mechanism, contingencies (What if's) need to be worked out.
Question No: 2 ( M a r k s: 1 ) http://vuzs.net
Packaging used for the ice creams is an example of which of the following?
► Decorative packaging
► Transport packaging
► Secondary packaging
► Primary packaging
Ref:Primary packaging: First-level product packaging such as the bottle, can, jar, tube, etc., that contains the item sold. It is the last packaging thrown by the consumer. It requires protection, tampering resistance, and special physical, chemical, or biological needs. It also shows the product that is labelled to show any nutrition information on the food being consumed.
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Question No: 3 ( M a r k s: 1 ) http://vuzs.net
A brand targeted to a high price elasticity market segment is called:
► Premium brand
► Economy brand
► Fighting brand
► Costly brand
An Economy brand is a brand targeted to a high price elasticity market segment.
Question No: 4 ( M a r k s: 1 ) http://vuzs.net
All of the following are true about price EXCEPT:
► Price is independent of the other elements of the marketing mix
► Price is the monetary value of a product
► Price is most flexible tool in the marketing mix
► Price is marketing mix element which produces revenue
Question No: 5 ( M a r k s: 1 ) http://vuzs.net
Which of the following price will be used for the heart pacemaker?
► Skimming price
► Penetration price
► Psychological price
► Premium price
People will buy a premium priced product because they require flawless performance in this application - The cost of product malfunction is too high to buy anything but the best - example: heart pacemaker.
Question No: 6 ( M a r k s: 1 ) http://vuzs.net
During which year a revolution came that transformed advertising into a modern, more scientific approach in which creativity was focused making advertisements interesting to read?
► 1913s
► 1940s
► 1960s
► 1930s
The 1960s saw advertising transform into a modern, more scientific approach in which creativity was allowed to shine, producing unexpected messages that made advertisements interesting to read.
Question No: 7 ( M a r k s: 1 ) http://vuzs.net
When was mass media introduced?
► 1950s
► 1940s
► 1930s
► 1920s
Mass media: It was coined in the 1920s with the advent of nationwide radio networks and of mass-circulation newspapers and magazines.
Question No: 8 ( M a r k s: 1 ) http://vuzs.net
A company is offering a reduced price if you buy two t-shirts instead of just one. Identify the type of price discrimination?
► First degree discrimination
► Forth degree discrimination
► Third degree discrimination
► Second degree discrimination
In second degree price discrimination, price varies according to quantity sold. Larger quantities are available at a lower unit price.
Question No: 9 ( M a r k s: 1 ) http://vuzs.net
Which of the following offers an incentive to buy a product?
► Direct mail
► Public relations
► Sales promotion
► Advertising
Sales promotion: A diverse collection of incentive tools, mostly short term, designed to stimulate quicker &/or grater purchase of particular products/services by consumers or the trade. Where advertising offers a reason to buy, sales promotion offers an incentive to buy.
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Question No: 10 ( M a r k s: 1 ) http://vuzs.net
Nido has advertised that get 5% extra milk for the same price. Identify the type of consumer sales promotion technique used by Nido.
► Cents-off deal
► Price deal
► Loyalty rewards program
► Price-pack deal
Price-pack deal: The packaging offers a consumer a certain percentage more of the product for the same price (for example, 25 percent extra).
Question No: 11 ( M a r k s: 1 ) http://vuzs.net
► Personal interaction between two or more people
► Invites and rewards quick consumer response
► Offers strong incentives to buy
► Attracts consumer attention
Question No: 12 ( M a r k s: 1 ) http://vuzs.net
What does BATNA stands for?
► The best alternative to a negotiated agreement
► The best available to a negotiated agreement
► The best alternating to a new agreement
► The best available to a new agreement
Best alternative to a negotiated agreement (batna)
Question No: 13 ( M a r k s: 1 ) http://vuzs.net
How marketing manager can develop strategies for each product using information from sales force management system?
► Using communication mix variables
► Using marketing mix variables
► Using product mix variables
► Using promotion mix variables
Developing marketing strategies for each of your products using the marketing mix variables of price, product, distribution, and promotion. vuzs
Question No: 14 ( M a r k s: 1 ) http://vuzs.net
Which of the following is the combination of institutions through which a seller, market products to the user?
► Marketing logistics
► Supply chain management
► Distribution channel
► Inventory management
Question No: 15 ( M a r k s: 1 ) http://vuzs.net
Outbound operations, including all fulfillment activities and transportation to customers are which type of supply chain management activities?
► Strategic level
► Tactical level
► Operational level
► Functional level
Operational Activities:
Outbound operations, including all fulfillment activities and transportation to customers. vuzs
Question No: 16 ( M a r k s: 1 ) http://vuzs.net
What does GSCF stand for?
► Global Supply Chain Forum
► Global Supply Chain Federation
► Global Supply Chain Finance
► Greater Salina Community Foundation
Global Supply Chain Forum (GSCF).
Question No: 17 ( M a r k s: 1 ) http://vuzs.net
Which of the following is a supply chain management model promoted by the Supply-Chain Council?
► SCOR
► GSCF
► SCM
► CRM
SCOR is a supply chain management model promoted by the Supply-Chain Council.
Question No: 18 ( M a r k s: 1 ) http://vuzs.net
Which of the following is an example of agency based sales?
► Web selling
► B2 B selling
► Advertising
► Real estate
Agency-based
• Consignment
• Multi-level marketing
• Sales agents (real estate, manufacturing)
Question No: 19 ( M a r k s: 1 ) http://vuzs.net
What is the input of consumer behavior?
► Response
► Stimuli
► Actions
► Reactions
The 'inputs' (stimuli) that the consumer receives from his or her environment.
Question No: 20 ( M a r k s: 1 ) http://vuzs.net
Which of the following is considered as a strength to an organization?
► Competitors developing new products
► New machinery or equipment
► Lack of computing expertise
► A new or developing market
Question No: 21 ( M a r k s: 1 ) http://vuzs.net
Products that are usually purchased due to adversity and high promotional back up rather than desire are called:
► Sought goods
► Unique goods
► Unsought goods
► Preferred goods
Article (such as medical supplies) or service (such as life insurance) that consumers seldom go out looking for, and which are purchased due to adversity (or fear of adversity) instead of desire.
Question No: 22 ( M a r k s: 1 ) http://vuzs.net
Retailers are the part of:
► Broad environment
► Weak environment
► Task environment
► Competitive environment
Task environment involves immediate actors, such as suppliers, distributors, dealers and consumers etc, involved in production, distribution and promotion.
Question No: 23 ( M a r k s: 1 ) http://vuzs.net
In which section of the marketing plan you would find the detailed information about the marketing environment, market trends, customers and competitors?
► Situation analysis
► Product/market background
► Marketing strategies
► Market analysis
Current Situation - Market Analysis: Indeed, market situation must be taken into account in all details and carefully studied. Market definition, Market size, Market Segmentation, Industry Structure and strategic groupings, Competition and market share, Competitors' Strengths and Weaknesses and Market Trends must be carefully studied and analyzed.
Question No: 24 ( M a r k s: 1 ) http://vuzs.net
For which of the following products would the manufacturer be more likely to use selective distribution?
► Bags of potato chips
► Paper clips
► Microwave ovens
► Nail clippers
Selective distribution - This is the normal pattern (in both consumer and industrial markets) where `suitable' resellers stock the product.
Question No: 25 ( M a r k s: 1 ) http://vuzs.net
Fixed costs ___________ as the number of units produced increases.
► Decrease
► Increase
► Divide in half
► Remain the same
Question No: 26 ( M a r k s: 1 ) http://vuzs.net
_______ are the sum of the _______ and _______ for any given level of production.
► Fixed costs; variable; total costs
► Fixed costs; total; variable costs
► Variable costs; fixed; total costs
► Total costs; fixed; variable costs
Question No: 27 ( M a r k s: 1 ) http://vuzs.net
In which of the following machines you insert a coin, select a song and song starts to play at your own choice?
► Black box
► Lock box
► Juke box
► Pandora box
A jukebox is a partially automated music-playing device, usually a coin-operated machine that will play a patron's selection from self-contained media. The classic jukebox has buttons with letters and numbers on them that, when entered in combination, are used to play a specific selection.
Question No: 28 ( M a r k s: 1 ) http://vuzs.net
Whenever bread comes in your mind; you usually think of a limited number of brand names. It reflects which one of the following concepts?
►Mind Share
►Dominant mind share
►Market share
►Relative market share
When people think of examples of a type or category of product, they think of a limited list (referred to as an evoked set).
Question No: 29 ( M a r k s: 1 ) http://vuzs.net
Which one of the following functions is being performed by the wholesaler when they achieve savings for their customers through buying carload lots and segregate it into smaller units?
►Bulk breaking
►Selling and promoting
►Financing
►Transportation
Bulk Breaking: involves dividing larger quantities into smaller quantities.
Question No: 30 ( M a r k s: 1 ) http://vuzs.net
Which one of the following wholesalers is involved in carrying stock of Air Conditioner (AC), offering credit to its customers, providing quicker deliveries and assistance of installation to its customers?
►Full-Service Wholesaler
►Limited-Service Wholesaler
►Merchant Wholesaler
►Exclusive distributor
Full-Service Wholesaler - a wholesaler offering a complete range of services including buying, selling, storage, transporting, sorting, financing, providing market feedback and risk-taking; also called a Full-Function Wholesaler.
Question No: 31 ( M a r k s: 1 ) http://vuzs.net
►Window shopping
►Online shopping
►Actual shopping
►Virtual shopping
Question No: 32 ( M a r k s: 1 ) http://vuzs.net
Which one of the following is NOT included in a model “AIUAPR” of buyer decision making model?
►Understanding
►Procurement
►Repeat purchase
►Understanding
( Awareness, Interest, Understanding, Attitudes, Purchase, Repeat purchase).
Question No: 33 ( M a r k s: 1 ) http://vuzs.net
In which of the following, decisions are unduly influenced by initial information that shapes our view of subsequent information?
►Anchoring
►Group decision
►Conservatism and inertia
►Faulty generalizations
Anchoring - Decisions are unduly influenced by initial information that shapes our view of subsequent information.
Question No: 34 ( M a r k s: 1 ) http://vuzs.net
The need for the security of employment and security of revenues reflects which of the following needs.
►Physiological needs
►Self-actualization
►Love/belonging needs
►Safety needs
Safety Needs
When the physiological needs are met, the need for safety will emerge. Safety and security rank above all other desires. These include:
• Security of employment
• Security of revenues and resources.
Question No: 35 ( M a r k s: 1 ) http://vuzs.net
Which of the following is NOT a safety need?
►Security of revenues and resources
►Moral and physiological security
►The need to regulate body temperature
►Security of employment
Question No: 36 ( M a r k s: 1 ) http://vuzs.net
In which of the following researches, researcher creates a quasi-artificial environment to control spurious factors and then manipulates at least one of the variables?
►Qualitative marketing research
►Quantitative marketing research
►Experimental techniques
►Observational techniques
Experimental Techniques - the researcher creates a quasi-artificial environment to try to control spurious factors, and then manipulates at least one of the variables - examples include purchase laboratories and test markets.
Question No: 37 ( M a r k s: 1 ) http://vuzs.net
Which of the following is the part of implementation section of marketing plan?
►Critical path analysis
►Physical distribution
►Competitor indexing
►Brand equity
Implementation: Personnel requirements, assigning responsibilities, give incentives, training on selling methods, financial requirements, management information systems requirements, month-by-month agenda, pert or critical path analysis, monitoring results and benchmarks, adjustment mechanism, contingencies (What if's) need to be worked out.
Question No: 38 ( M a r k s: 1 ) http://vuzs.net
In which of the following strategies the firm shows no proactive or little proactive approach?
► Prospector strategy
► Analyzer strategy
► Innovator strategy
► Reactor strategy
Reactor: A reactor has no proactive strategy.
Question No: 39 ( M a r k s: 1 ) http://vuzs.net
Which of the following is a basic characteristic of a shopping good?
► Store image is unimportant if price is low
► Brand is most important variable
► Product is exclusive
► Product location needs to be convenient
Question No: 40 ( M a r k s: 1 ) http://vuzs.net
Which of the following is a brand created and owned by a large retailer of a product after purchasing in bulk quantity from manufacturer?
► Co-brand
► Private brand
► Manufacturer's brand
► Licensed brand
When large Retailers buy products in bulk from manufacturers and put their own brand name on them, this is called Private Branding, store brand, or private label.
Question No: 41 ( M a r k s: 1 ) http://vuzs.net
Which of the following is the pricing objective mentioned most frequently by four out of every five firms?
► Meeting competitors’ prices
► Target return on sales
► Sales maximization
► Revenue maximization
Question No: 42 ( M a r k s: 1 ) http://vuzs.net
Reductions in price offered to consumers, industrial users, or channel members for prompt payment of a bill are known as:
► Trade discounts
► Quality discounts
► Cash discount
► Off price discounts
Cash discounts for prompt payment.
Question No: 43 ( M a r k s: 1 ) http://vuzs.net
Costs that do not vary with production or sales level are referred as ________.
► Fixed costs
► Variable costs
► Total costs
► Unit costs
Question No: 44 ( M a r k s: 1 ) http://vuzs.net
Promotion can be economically important because:
► It provides employment for thousands of people
► It increase sales volume
► It subsidizes the communication media
► All of the given options
Question No: 45 ( M a r k s: 1 ) http://vuzs.net
Advertising and sales promotion are the most commonly used elements of promotion in a:
► Distribution strategy
► Product strategy
► Pushing strategy
► Pulling strategy
Question No: 46 ( M a r k s: 1 ) http://vuzs.net
Which of the following refers to the consumer’s perception of a store and the shopping experience.
► Retail image
► Store classification
► Full service retailer
► Wheel of retailing
Question No: 47 ( M a r k s: 1 ) http://vuzs.net
The personal determinants of consumer behavior include which of the following?
► Culture
► Family
► Society
► Individual needs and wants
Culture, family, society is sociological determinants of consumer behavior.
Question No: 48 ( M a r k s: 1 ) http://vuzs.net
Which of the following statements most closely relates to the consumer decision process?
► An important factor in problem recognition is changed financial status
► There are two major steps: internal search and external decision making.
► Attitude triggers the consumer decision process
► Routine purchases require both evaluation and search
Question No: 49 ( M a r k s: 3 )
Suppose you are going to buy an item which is offered for Rs.5000. Consider these situations.
There is 10% discount.
There is 10% surcharge
Calculate price you are going to pay for the item in each case.
Answer:
Price after discount:
As discount is 10% so the new price will be 90% of the actual price that is
5000 x 90 /100 =4500
Price after surcharge:
As surcharge is 10% so new price will be 110% of actual price that is
5000 x 110 /100 = 5500
Question No: 50 ( M a r k s: 3 )
Differentiate between sales price and transfer price.
Answer:
Transfer price means to set the location, to analyze, place and alteration of charges made between two parties or companies for any business. Transfer prices among mechanisms may be used to reflect distribution of resources among such components or for other purposes. Transfer prices are important for both taxpayers and tax managements because they determine in large part the income and expenses and taxable profits.
Sale price is that price at which something is obtainable for sale we can also say it the fair market value. According to the business dictionary sale price is also the reduce price of something during sale of something.
Question No: 51 ( M a r k s: 5 )
Considering a situation in which you are going to negotiate with a party, what are the necessary skills you think you should have for successful and effective negotiation? Explain what the benefits of an effective negotiation are?
Answer:
Negotiation means two persons or two parties trying to solve some problem, Negotiations can occur in profit organization, non profit organization and Govt. offices.
There are many techniques used in negotiations like by skilled negotiator. The analysis of the negotiation or problem organization styleshould have the following points consideration:
Presenting demands
Ability to speak first
Calculation Deadlines
Take it or leave it
Rejecting an offer
Limited authority
Getting it in your hands
The effective negotiating resulting in a best solution and by negotiation we solved very big problems in any organization.
Question No: 52 ( M a r k s: 5 )
What are the important questions a marketer should consider while selecting a distribution channel for any market segment?
Answer:
Before selecting a distribution channel for any market segment following questions must be answered in order to have an effective distribution channel.
<!--[if !supportLists]-->· <!--[endif]-->Who is the operating authority of the channel?
<!--[if !supportLists]-->· <!--[endif]-->Should distribution be exclusive, selective or extensive?
<!--[if !supportLists]-->· <!--[endif]-->Should the product be sold through a retailer?
<!--[if !supportLists]-->· <!--[endif]-->Should the product be distributed through wholesale?
<!--[if !supportLists]-->· <!--[endif]-->Should multi-level marketing channels be used?
<!--[if !supportLists]-->· <!--[endif]-->How long should the channel be?
<!--[if !supportLists]-->· <!--[endif]-->Where should the product or service be available?
<!--[if !supportLists]-->· <!--[endif]-->When should the product or service be available?
<!--[if !supportLists]-->· <!--[endif]-->Should channel relationships be informal or contractual?
<!--[if !supportLists]-->· <!--[endif]-->Should electronic methods of distribution be used?
<!--[if !supportLists]-->· <!--[endif]-->Are there physical distribution and logistical issues to deal with?
Question No: 53 ( M a r k s: 5 )
When we are going to buy something from the market, it happens to our self that we buy things irrationally. How would you comment on this situation by keeping in view the model of Herbit Simon?
Answer:
Buyers normally engage in irrational buying behavior because perfectly rational buying cannot be achieved for the reason that there are number of factors that limit rational buying.
As Simon said if a complete analysis is to be done, a decision will be immensely complex.
Peoples' information processing ability is very limited.
The assumption of a perfectly rational economic actor is unrealistic.
Often we are influenced by emotional and non-rational considerations when we try to be rational we are at best only partially successful.
Moreover, perfectly rational decisions also pose a time constraint.
