MKT501- Marketing Management FINAM EXAM Spring 2010Solved by vuZs Team

=Question No: 1    ( M a r k s: 1 )    http://vuzs.net

Which of the following stage of product life cycle is most expensive?

► Introduction 

► Growth 

► Maturity 

► Decline 

ref

Market introduction stage: Cost high, Sales volume low, Losses

Question No: 2    ( M a r k s: 1 )    http://vuzs.net 

In which of the following demand for the product reduces because of technological advances, shifts in consumer tastes and increased competition?

► Introduction stage 

► Growth stage 

► Maturity stag 

► Decline stage 

ref

Decline stage: Fourth and last stage of a product's life cycle, characterized by fast declining sales revenue and fewer customers. Generally caused by (1) obsolescence, (2) Changes in customer preferences, 3) Global competition

(4) New regulatory requirements, such as environmental protection laws.

Question No: 3    ( M a r k s: 1 )    http://vuzs.net 

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 

Ref: Compatibility: The degree to which new product matches the values and experiences of the individuals in the society.

Question No: 4    ( M a r k s: 1 )    http://vuzs.net 

Which of the following is the leak-proof packaging that provides additional protection for the primary container?

► Primary packaging 

► Secondary packaging 

► Transport packaging 

► Decorative packaging 

Ref: Secondary packaging: Leak-proof packaging that provides additional protection for the primary receptacle(s); it may include absorbent material.

Question No: 5    ( M a r k s: 1 )    http://vuzs.net 

ABC Co., a major Swedish multinational, provides an example of the power of innovative packaging and customer thinking. ABC Co. is involved in which of the following types of packaging that enables milk, fruit juice, and other perishable liquid foods to be distributed without refrigeration? 

► Boxes 

► Blister packs 

► Cartons 

► Aseptic packages 

Ref: There are a large number of products in aseptic packages.  These include soy milks, rice drinks, juices, tomatoes, soups, tofu, sports drinks, liquid eggs, and concentrates, cocktail mixes, whipping cream, infant nutritional beverages, teas, sauces and gravies.

Question No: 6    ( M a r k s: 1 )    http://vuzs.net 

Which of the following brands is created specifically to counter a competitive threat? 

► Premium brand 

► Economy brand 

► Fighting brand 

► Corporate brand 

ref

A fighting brand is a brand created specifically to counter a competitive threat.

Question No: 7    ( M a r k s: 1 )    http://vuzs.net 

Which of the following is a name, term, sign, symbol, design, or a combination of these, that identifies the product or service?

► Label 

► Co-brand 

► Brand 

► Product 

Ref: A brand is the identity of a specific product, service, or business. A brand can take many forms, including a name, sign, symbol, colour combination or slogan.

Question No: 8    ( M a r k s: 1 )    http://vuzs.net 

When two or more well known brands are combined in an offer it is called: 

► Private brand 

► Multibrands 

► Co-brand 

► New brand 

ref

When two or more brands work together to market their products, this is referred to as Co-branding.

Question No: 9    ( M a r k s: 1 )    http://vuzs.net 

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 

 ref

LOSS LEADER: In marketing, a loss leader is an item that is sold below cost in an effort to stimulate other profitable sales.

Question No: 10    ( M a r k s: 1 )    http://vuzs.net 

Which of the following way of advertising can be used to attract passing pedestrian? 

► Sponsorships 

► Commercials 

► Billboards 

► Catchy jingles 

ref

Traditional Billboards: Roadside billboards frequently encourage passersby to visit local businesses.

Question No: 11    ( M a r k s: 1 )    http://vuzs.net 

Which of the following is the basic role of promotion?

► Interpretation 

► Communication 

► Manipulation 

► Information

Fuad,vuZs

ref

Promotion involves disseminating information about a product, product line, brand, or company.

Question No: 12    ( M a r k s: 1 )    http://vuzs.net www.vuzs.net

Which of the following is NOT generally recognized as an element of the promotion mix? 

► Sales promotion 

► Pricing 

► Public relations 

► Advertising

ref

Promotional mix such as advertising, sales promotion, public relations, and publicity. 

Question vuzs No: 13    ( M a r k s: 1 )    http://vuzs.net 

IMC stands for what?

► Internal marketing community 

► Integrated managing company 

► Internal marketing communication 

► Integrated marketing communication 

Question No: 14    ( 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 

ref

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.

Question No: 15    ( M a r k s: 1 )    http://vuzs.net 

Which of the following is NOT a medium used for advertising?

► Publicity 

► Print media 

► Television 

► Radio 

Question No: 16    ( M a r k s: 1 )    http://vuzs.net 

Lost-and-found advertising on papyrus was common in which of the following:

► Rom and India 

► Greece and India 

► Rom and China 

► Greece and Rom 

ref

Egyptians used papyrus to create sales messages and wall posters, while lost-and-found advertising on papyrus was common in Greece and Rome.

Question No: 17    ( M a r k s: 1 )    http://vuzs.net 

Which of the following is NOT the form of complex sales? 

► Real estate development 

► Large fleet vehicle sales 

► Mining equipment sales 

► Commercial goods sales 

ref

Forms of complex sales:

• § Commercial insurance sales

• § Real Estate development

• § Large fleet vehicle sales

• § Mining equipment sales (ie Caterpillar tractors and large tunnel boring machines)

• § Scientific Solution Sales (Data analysis and management)

Question No: 18    ( M a r k s: 1 )    http://vuzs.net 

Which type of sales involves long sales cycles with multiple decision makers? 

► Electronic sales 

► Consultative sales 

► Complex sales 

► Direct sales 

ref

Complex sales involve long sales cycles with multiple decision makers. Multiple stakeholders and stakeholder groups contribute to every complex sale.

Question No: 19    ( M a r k s: 1 )    http://vuzs.net 

Which of the following is an advantage of sales force management system for marketing manager? 

► Identifying the best customers 

► Identifying segments within market 

► Identifying target market 

► All of the given options 

Question No: 20    ( M a r k s: 1 )    http://vuzs.net 

Identify the type of promotion in which companies use celebrities for promotion.

► Personal selling 

► Sales promotion 

► Publicity 

► Public relation 

ref

Publicity is the means of using an external entity (celebrities, people from the media, etc) to increase the awareness levels of the product, company, goods etc amongst the public and/or buying segment.

Question No: 21    ( M a r k s: 1 )    http://vuzs.net 

What is the intention of vertical marketing for retailers and wholesalers?

► Increase cost 

► Reduce channels 

► Reduce control 

► Increase control 

Question No: 22    ( M a r k s: 1 )    http://vuzs.net 

Which of the following is NOT a production decision?

► Delivery of goods 

► Contracting 

► Planning process 

► Scheduling 

ref

Production decisions, including contracting, locations, scheduling, and planning process definition. 

Question No: 23    ( M a r k s: 1 )    http://vuzs.net 

Which of the following is a performance measure of efficiency of organization’s logistics? 

► Logistics engineering 

► Market logistics 

► Landed cost 

► Market growth 

ref

Logistic Engineering deals with the science of Logistics.

Question No: 24    ( M a r k s: 1 )    http://vuzs.net www.vuzs.net

Which of the following is NOT a method of retailing?

► Counter-service 

► Cross-selling 

► Self-service 

► Online shop 

ref

Even though most retailing is done through self-service, many shops offer counter-service items.

Question No: 25    ( M a r k s: 1 )    http://vuzs.net 

Which of the following is NOT a psychological need? 

► Need for affection 

► Need for food 

► Need for water 

► Need for sleep 

ref

The physiological needs of the organism, those enabling homeostasis, take first precedence. These consist mainly of:

• The need to breathe

• The need to eat

• The need to dispose of bodily wastes

• The need for sleep

• The need to regulate body temperature.

Question No: 26    ( M a r k s: 1 )    http://vuzs.net 

Identify the projective technique in which a picture is shown and respondents are asked to make the story.

► Role playing 

► Cartoon test 

► Story completion 

► Thematic apperception test 

ref

Thematic apperception tests - respondents are shown a picture (or series of pictures) and asked to make up a story about the picture(s).

Question No: 27    ( M a r k s: 1 )    http://vuzs.net 

A corporate VMS has the advantage of controlling the entire distribution chain under which of the following?

► A few intermediaries 

► Mass distribution 

► Single ownership 

► A profit-maximizing strategic plan 

Question No: 28    ( M a r k s: 1 )    http://vuzs.net 

Global markets are engaged in all of the following decisions EXCEPT:

► What country to enter in? 

► How to enter? 

► How to adopt their product and services? 

► What to sell to governmental organization?

  

ref

GLOBAL MARKETS: This is when we talk beyond frontiers; marketers are faced with tougher decisions for global markets. Export of product is in itself a major undertaking. Which country to enter? How to enter? How to Price? How to communicate?

Question No: 29    ( M a r k s: 1 )    http://vuzs.net 

Which of the following involves the use and disposal of products as well as the study of how they are purchased?

► Consumer performance 

► Consumer response 

► Consumer behavior 

► Consumer relationship 

ref

Consumer behavior involves the use and disposal of products as well as the study of how they are purchased.

Question No: 30    ( M a r k s: 1 )    http://vuzs.net 

Maslow's hierarchy has a list of human needs from the most pressing to the least pressing. These include all of the following EXCEPT:

► Self-actualization 

► Need recognition 

► Safety needs 

► Social needs 

Question No: 31    ( 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: 32    ( M a r k s: 1 )    http://vuzs.net 

Which of the following concepts is defined as the “responsiveness of the quantity demanded of a good or service to a change in its price”?

► Price elasticity 

► Break-even pricing 

► Demand curve 

► Target cost

ref

Elasticity of Demand (PED) is a measure of the responsiveness of the quantity demanded of a good or service to a change in its price.

Question No: 33    ( M a r k s: 1 )    http://vuzs.net 

What are the tasks of the sales representative?

► Informing customers; information gathering; persuasion 

► Installation and demonstration of products; project management; maintaining relationships 

► Prospecting clients; relationship management; monitoring the competition 

► All of the above

Question No: 34    ( M a r k s: 1 )    http://vuzs.net 

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called _____.

► Sales promotion 

► Direct marketing 

► Advertising 

► Personal selling

ref

Advertising is any paid form of non-personal presentation and promotion of ideas, goods and services through mass media such as newspapers, magazines, television or radio by an identified sponsor".

Question No: 35    ( M a r k s: 1 )    http://vuzs.net 

Multi-component video news release (VNR’s) is one of the tools of:

► Advertising 

► Sales promotion 

► Direct marketing 

► Publicity 

ref

Basic TOOLS of the Publicist are:

• Press Release

• Telephone press conferences

• In-studio media tours

• Multi-component video news releases (VNR’s)

• Newswire stories.

Question No: 36    ( M a r k s: 1 )    http://vuzs.net 

“Unwillingness to change thought patterns that we have used in the past in the face of new circumstances” is showing which of the following concepts?

► Conservatism and inertia 

► Experiential limitations 

► Selective perception 

► Source Credibility bias 

ref

Conservatism and inertia - Unwillingness to change thought patterns that we have used in the past in the face of new circumstances.

Question No: 37    ( M a r k s: 1 )    http://vuzs.net 

Global Market is also called as: 

► Consumer market 

► Import market 

► Export market 

► Government market

Question No: 38    ( M a r k s: 1 )    http://vuzs.net 

A good marketing strategy would be to promote the extensive use of market segmentation in the:

► Introduction 

► Growth 

► Maturity 

► Decline

ref

Maturity Stage:"Marketers will also revise their marketing strategies .i.e. they will find new segments of the market for their product.

Question No: 39    ( M a r k s: 1 )    http://vuzs.net 

Pricing a product at 4.99 Rs rather than 5 Rs is an example of which of the following? 

► Unit pricing 

► Odd pricing 

► Round down pricing 

► One price policy 

ref

Prices are rounded down to the nearest multiple of 5 cents for sales ending in 1c, 2c.

Question No: 40    ( M a r k s: 1 )    http://vuzs.net 

The opportunity to deduct 2 percent from the bill if payment is made within 10 days is a:

► Trade discounts 

► Quality discounts 

► Cash discount 

► Off price discounts

Question No: 41    ( M a r k s: 1 )    http://vuzs.net 

If the firm's average total cost is equal to the price of the product at profit maximization then at what mode of operation the firm would be? 

► Economic profit 

► Normal profit 

► Loss minimizing 

► Shut down 

ref

A firm is said to be making a normal profit when its economic profit equals zero. This occurs where average total cost equals price at the profit-maximizing output.

Question No: 42    ( M a r k s: 1 )    http://vuzs.net 

If the price of product is between average total cost and average variable cost at profit maximization then at what mode of operation the firm would be?

► Economic profit 

► Normal profit 

► Loss minimizing 

► Shut down 

ref

If the price is between average total cost and average variable cost at the profit-maximizing output, then the firm is said to be in a loss-minimizing condition.

Question No: 43    ( M a r k s: 1 )    http://vuzs.net 

Industrial purchases usually refer to deal with:

► Retailers 

► Wholesalers 

► Agents 

► Manufacturer 

ref

WHOLESALING “includes all activities involved in selling goods and services to those who buy for resale or business use”.

Question No: 44    ( M a r k s: 1 )    http://vuzs.net 

Intense distribution: 

► Involves the selection of small number of retailers 

► Is usually used in the distribution of Candies and chewing gum 

► Requires very little use of whole sellers 

► Bypass the intermediaries 

ref

Intensive Distribution Takes place when suppliers sell through as many retailers as possible. This arrangement usually maximizes suppliers' sales; and it enables retailers to offer many brands and product versions.

Question vu zs No: 45    ( M a r k s: 1 )    http://vuzs.net 

You are going to take a decision about a purchase and your decision is influenced by initial information you collected from a source. Identify the decision making style in this situation.

► Repetition bias 

► Group decision 

► Anchoring 

► Selective perception 

ref

Anchoring - Decisions are unduly influenced by initial information that shapes our view of subsequent information.

Question No: 46    ( M a r k s: 1 )    http://vuzs.net www.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: 47    ( M a r k s: 1 )    http://vuzs.net 

Marketing strategies that have been successful in one country often cannot be applied directly in international markets due to which of the following? 

► Political differences 

► Social differences 

► Cultural differences 

► Economic differences 

ref

Cultural differences are particularly important for international markets.  Marketing strategies that prove successful in one country cannot extend to other international markets because of cultural variations.

Question No: 48    ( M a r k s: 1 )    http://vuzs.net 

The survey method of collecting data includes which of the following? 

► Observations 

► Personal interviews 

► Reports 

► Internal sales data

Question No: 49    ( M a r k s: 3 ) 

How the performance of a supply chain can be measured? Mention any three points.

www.vuzs.net

Question No: 50    ( M a r k s: 3 ) 

What is the purpose of marketing research?

Question No: 51    ( M a r k s: 5 ) 

A company is using sales force automation system and aims to increase customer’s satisfaction. How sales force automation system can be helpful in attaining customer’s satisfaction?

Question No: 52    ( M a r k s: 5 ) 

How public relations are helpful in creating goodwill for organizations?

Question No: 53    ( M a r k s: 5 ) 

Differentiate between economic and psychological models. 

MKT501 Final Term 2011 Current paper subjective by Different students

Shared by Mehreen

total 69 mcq

3 question , of 3 marks

4 questions of 5 marks.

all mcq's repeated.

1. Differentiate between Operationalization and Conceptualization

2. name selling techniques.

3. how can a company motivate channel members.

4. how automation systems can be used to see the performance of the sales force.

5.Differentiate between observational and experimental technique in marketing research.

6.Differentiate between public relation and publicity.

7. factors which can influence change in price of a product.

=============================================================

Shared by mehvish

My Today MKT501 paper

Total 62 MCQ

All MCQ are from the past papers and 10 mcqs from mid term repeated and other mcqs from the past papers

Only there are 20 new Mcqs from the 40 to 45 lec

but easy

3 question of 3 marks

4 question of 5 marks

1) What are the advantages of the Publicity? 3 marks

2)How you evaluate that Billboard placement can be possible? 3 marks

3)Define the Constracts process between the consumer behavior Model? 3 marks

4) What is Qualitative marketing research and also describe the approaches of the qualitative marking research ?5 marks

5) How you consider the Retail pricing and describe any two strategies which retailer used when he is setting the price policies?5 marks

6) Write the advantage of Advertising and how it is called a long lasting technique, Discuses? 5 marks

7) Pricing is very important But how its decision for the markerters is very difficult, Discuses with stable example? 5 marks

BEST OF LUCKS

REMEMBER ME IN UR PRAYERS

=============================================

IMRAN ALI & MUHAMMAD IBRAHIM
MARKETING GROUP
11-02-2011 
MKT 501
FINAL TERM 2011

SUBJECTIVE

Question. By how many way information is trasmitted to a large numbers of customers through mass media?
Question. while marketing a conjoint analysis Mr. Ali come across that it is not working well in assessing the customer acceptance to the new product. He is of the view taht there is a fault while running the whole process of conjoint analysis being the student of management science .............? ye ni likha
Question. What are the activity included in the nonseeling time of sale person?
Question. How vertical marketing system differ from horizental marketing system.
Question. Describe the common advantage and disadvantage of observational research.
Question. Describe teh scope and requiremetn for conduction the quantitive marketing research.
Question. Enlist the inbound and outbound operation. Which are performed in the process of supply chain management.

MKT 501
FINAL TERM 2011

SUBJECTIVE
Question. Different business situation where we can find Negotiation.
Question. How retailer use technology for improving their performance.
Question.
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?
Question
How vertical marketing system differ from horizental marketing sysetm
Question
Nokia is market leader and Sony Ericson ............ age ne ata
Question.
Sale refor to as a systematic of repethe and measurable milestones by which a saleperson retailes hes offer enabling the buyer how to achieve the goal/......?

Ye Friend ka he. Please solve file b upload kr dijeye ga. thanks

SOLVED….BY…..WAJID MALIK…


Subjective Questions MKT501…..FINAL TERM…
Question 01
What are the tactics of Supply Chain Management in their role? (5M) Page #92
Tactical Activities
• Sourcing contracts and other purchasing decisions.
• Production decisions, including contracting, locations, scheduling, and
planning process definition.
• Inventory decisions, including quantity, location, and quality of inventory.
• Transportation strategy, including frequency, routes, and contracting.
• Benchmarking of all operations against competitors and implementation of
best practices throughout the enterprise.
• Milestone Payments
Question 02
What are the difference in marketing or sales? 5 Marks Page # 2 & 73
Marketing is typically seen as the task of creating, promoting and delivering
goods and services from producers to consumers.
Sales refer to as a systematic process of repetitive and measurable milestones, by
which a salesperson relates his offering enabling the buyer to visualize how to
achieve his goal in an economic way”.
.
Selling is a practical implementation of MARKEING it often forms a separate
grouping in a corporate structure, employing separate specialist operatives
known as salesmen (singular: salesman or salesperson).
Question 03
What are the advantages and disadvantages of Observational Research?
(5 Marks)  
The Observation method of research is basically developed for observing people
in their natural setting. It focuses more on their everyday normal life. There are
two types of Observation methods:
Non-Participant observation.
Participant Observation
Following are the advantages of this method

It helps in overcoming issues of validity, bias etc
It is useful when the subject can not provide information.
It is also useful when the subject is feared to provide inaccurate
information.
Following are the disadvantages:
Past events being studied
Frequently measuring  attitudes or opinions
Selecting sample is tricky
Time and costs are high
Can be automated
Ethical issues
Question 04
What is the difference in the qualitative and quantitative research?  Page 112
Qualitative research is a set of research techniques, used in marketing and the
social sciences, in which data are obtained from a  relatively small group of
respondents and not analyzed with statistical techniques. While in the
quantitative research the data are obtained from a  large group of respondents
that are statistically analyzed.
Question 05
What is the scope of quantitative research?  Page114
Both descriptive and inferential statistical techniques can be used to analyze data
and draw conclusions. It involves a quantity of respondents sometimes ranging
in number from ten to ten million, and may include  hypotheses, random
sampling techniques to enable inference from the sample to the population.
Marketing research may include both experimental and quasi-experimental
research designs.
Questions 06
What do you think that what you have negotiation skills? What are the benefits of negotiation?
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 style should 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 07
What are Inbound and outbound activities of retailers? Page # 92, 93
Inbound operations, including transportation from suppliers and receiving
inventory.
Outbound operations, including all fulfillment activities and transportation to
customers.
Question 08
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. 
 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 09
Advantage of publicity. 3M  Page 84
• Low cost
• And credibility (particularly if the publicity is aired in between news stories
like on evening TV news casts).
The disadvantages are lack of control over how releases will be used, and
frustration over the low percentage of releases that are taken up by the media.
Publicity draws on several key themes including
• Birth
• Love
• And death.
Question 10
What is length of channel, structure of different channels? 5M Page 88
CHANNEL STRUCTURE
To the various `levels' of distribution, which they refer to as the `channel length'.
• Conventional or free-flow - This is the usual, widely recognized, channel with
a range of `middlemen' passing the goods on to the end-user.
• Single transaction - A temporary `channel' may be set up for one transaction;
for example, the sale of property or a specific civil engineering project. This does
not share many characteristics with other channel transactions, each one being
unique.
• Vertical marketing system  (VMS) - In this form, the elements of distribution
are integrated.
Question 11
How qualitative marketing research different from quantitative marketing
research. 5  Page 112


Qualitative research is a set of research techniques, used in marketing and the
social sciences, in which data are obtained from a  relatively small group of
respondents and not analyzed with statistical techniques. While in the
quantitative research the data are obtained from a  large group of respondents
that are statistically analyzed.
Question 12
What are the effective advertisements? 5
Question 13
Define the five character stick of interview marks 3 Page 111, 112
Interview is conducted one-on-one, and lasts between 30 and 60 Minutes.
[1] Best method for in-depth probing of personal opinions, beliefs, and
Values.
[1] Very rich depth of information
[1] Very flexible
[1] Can be time consuming and responses can be difficult to interpret
[1] Requires skilled interviewers - expensive - interviewer bias can easily be
introduced
[1] Start with general questions and rapport establishing questions, and then
proceed to more purposive questions
Question 14
Difference between publicity and public relation (marks 3)    Page 83, 84
PUBLICITY----DEFINITION
Publicity is the means of using an external entity  (celebrities, people from the
media, etc) to increase the awareness levels of the product, company, goods etc
amongst the public and/or buying segment.
PUBLIC RELATIONS
“Public Relations is the art and science of building relationships between an
organization and its key publics. It is concerned with communications
management”.
Question 15
World wide web is mass media define (Marks 5)
Question 16
Retailer takes benefit of price discrimination describe? (Marks 5)
The retailer charges higher prices to some customers and lower prices to others.
For example, a customer may have to pay more if the seller determines that he or
she is willing to. The retailer may conclude this due to the customer's wealth,
carelessness, lack of knowledge, or eagerness to buy.
Question 17
Consumer behavior environment function (3 marks)   Page 99
The 'inputs' (stimuli) that the consumer receives from his or her environment are:
1. Significative - the 'real' (physical) aspects of the product or service (which the
company make use of)
2.  Symbolic  - the ideas or images attached by the supplier (for example by
advertising)
3. Social - the ideas or images attached to the product or service by 'society' (for
example, by reference groups)
The 'outputs' are what happens, the consumer's actions, as observable results of
the input stimuli.
Between the inputs and outputs are the 'constructs', the processes which the
consumer goes through to decide upon his or her actions. Howard and Sheth
group these into two areas:
1. Perceptual  - those concerned with obtaining and handling information about
the product or service
2. Learning - the processes of learning that lead to the decision itself
Question 18
Vertical and horizontal define two situation are give. (5 marks)    Page 90
VERTICAL MARKETING
This relatively recent development integrates the channel with the original
supplier - producer, wholesalers and retailers working in one unified system.

called `corporate systems integration');
HORIZONTAL MARKETING
A rather less frequent example of new approaches to channels is where two or
more non-competing organizations agree on a joint venture - a joint marketing
operation - because it is beyond the capacity of each individual organization
alone. In general, this is less likely to revolve around marketing synergy.
Question 19
Bang a market manager why you want to TV ads after place the product give
your arguments (5 marks)
Question 20
Differentiate between sales price and transfer price.
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 21
What are the important questions a marketer should consider while selecting a
distribution channel for any market segment?
Before selecting a distribution channel for any market segment following
questions must be answered in order to have an effective distribution channel.
• Who is the operating authority of the channel?
• Should distribution be exclusive, selective or extensive?
• Should the product be sold through a retailer?
• Should multi-level marketing channels be used?
• How long should the channel be?
• Where should the product or service be available?
• When should the product or service be available?
• Should channel relationships be informal or contractual?
• Should electronic methods of distribution be used?
• Are there physical distribution and logistical issues to deal with?
Question 22
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?
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.

Marketing Management MKT 501 Subjective Questions (Past Papers)

Marketing Management MKT 501

Subjective Questions 

(Past Papers)

1- You are going to purchase PC. Which channel of distribution you will use to purchase? (3 marks)
Answer:

After a product is manufactured by a supplier/factory, it is typically stored in a distribution company's warehouse. The product is then sold to retailers or customers.  I will buy the PC from the retailer as well as I can also place an order via mail or telephone.

2- What are those constructs which link input and output actions in the customer decision making process according to Howard and Sheath? (3 marks)
Answer:

Between the inputs and outputs are the 'constructs', the processes which the consumer goes through to decide upon his or her actions. Howard and Sheth group these into two areas:

1. Perceptual - those concerned with obtaining and handling information about the product or service
2. Learning - the processes of learning that lead to the decision itself


3- The term Publicity and Public relation are interchangeable. Do you agree? (5 marks)
Answer:

Publicity is a tool of public relations. Whereas public relations are the management of all communication between the client and selected target audiences, publicity is the management of product- or brand-related communications between the firm and the general public. It is primarily an informative activity (as opposed to a persuasive one), but its ultimate goal is to promote the client's products, services, or brands.

4- Internal analysis is used to evaluate the strength and weaknesses of company's internal environment. What factors a company need to evaluate while doing internal analysis? (5 marks)
Answer:

STRENGTHS AND WEAKNESSES
• Resources: financial, intellectual, locational
• Customer Service
• Efficiency
• Competitive Advantages
• Infrastructure
• Quality
• Staff
• Management
• Price
• Distribution Channels and Hours of operations
• After sales service and Sales promotion techniques
• Transportation and Delivery time
• Diversified fields, Product line and multiple services/offers (Technical, Commercial, Designing &
Turnkey Projects etc )

Also prepare this.

OPPORTUNITIES AND THREATS
• Competitors' actions
• Economic conditions
• Interest rates
• Increasing market saturation
• Changes in laws and regulations


1. Define consumer behavior what is the main focus for marketers to study CB? 3
Answer:

It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics, psychographics, and behavioral variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general.

The main focus for the marketers to study of CB
1. How people buy?
2. What they buy?
3. When they buy?
4. And why they buy?

2. From where will you decide to buy your personal computer? 3
Answer:

After a product is manufactured by a supplier/factory, it is typically stored in a distribution company's warehouse. The product is then sold to retailers or customers.  I will buy the PC from the retailer as well as I can also place an order via mail or telephone.

3. How does retailer do and get benefit from price discrimination? 5
Answer:

Alternatively, there can be price discrimination for a variety of reasons. The retailer charges higher prices to some customers and lower prices to others. For example, a customer may have to pay more if the seller determines that he or she is willing to. The retailer may conclude this due to the customer's wealth, carelessness, lack of knowledge, or eagerness to buy.

Price discrimination can lead to a bargaining situation often called haggling — a negotiation about the price. Economists see this as determining how the transaction's total surplus will be divided into consumer and producer surplus. Neither party has a clear advantage, because the threat of no sale exists, whence the surplus vanishes for both.

4. What is the purpose of advertising? 5
“Advertising, generally speaking, is the promotion of goods, services, companies and ideas, usually performed by an identified sponsor”.
1. The purpose of adverts are to make people aware
2.to inform
3.to persuade
4.to remind
• To attract new buyers and try to expand customer base.
• To compete in the market.
• To create an organization's recognition among consumers.
• To promote subsidiary or products manufactured by the same company.
• To bring into notice the changes, special offers or current developments of the interest of the consumers.
• To increase the sale of a particular product.
• To carry out public relations and public service program.
Difference between qualitative and quantitative market research. 3 marks
Answer:

QUALITATIVE MARKETING RESEARCH

Qualitative research is a set of research techniques, used in marketing and the social sciences, in which data are obtained from a relatively small group of respondents and not analyzed with statistical techniques. This differentiates it from quantitative research in which a large group of respondents provide data that are statistically analyzed.

QUANTITATIVE MARKETING RESEARCH

Quantitative marketing research is the application of quantitative research techniques to the field of marketing. It has roots in both the positivist view of the world, and the modern marketing viewpoint that marketing is an interactive process in which both the buyer and seller reach a satisfying agreement on the "four P's" of marketing: Product, Price, Place (location) and Promotion.

Consumer's behaviour enviornment function 3 marks
Answer:

MODELS OF CONSUMER BEHAVIOR

One of the best known of the explanatory 'lain the interactions involved are that of Howard and Sheth. This contains a deal of common sense, although, as is often the case with such models, the rather obscure terminology makes it appear more confusing than it really is. The 'inputs' (stimuli) that the consumer receives from his or her environment are:

1. Significative - the 'real' (physical) aspects of the product or service (which the company make use of)
2. Symbolic - the ideas or images attached by the supplier (for example by advertising)
3. Social - the ideas or images attached to the product or service by 'society' (for example, by reference groups)

Vertical and horizontal marketing define two situation are give 5 marks

VERTICAL MARKETING
This relatively recent development integrates the channel with the original supplier - producer, wholesalers and retailers working in one unified system. This may arise because one member of the chain owns the other elements (often called `corporate systems integration'); a supplier owning its own retail outlets, this being 'forward' integration. It is perhaps more likely that a retailer will own its own suppliers, this being 'backward' integration. (For example, MFI, the furniture retailer, owns Hygena which makes its kitchen and bedroom units.) The integration can also be by franchise (such as that offered by McDonald's hamburgers and Benetton clothes) or simple co-operation (in the way that Marks & Spencer co-operates with its suppliers).

HORIZONTAL MARKETING
A rather less frequent example of new approaches to channels is where two or more non-competing organizations agree on a joint venture - a joint marketing operation - because it is beyond the capacity of each individual organization alone. In general, this is less likely to revolve around marketing synergy.

Being a market manager why you want to tv ads after place the product give your arrguments 5 marks
Answer:

Many Television Commercials feature Catchy Jingles (songs or melodies) or catch-phrases that generate sustained appeal, which may remain in the minds of television viewers long after the span of the advertising campaign.

For Catching Attention of consumers, communication agencies make wide use of humor. In fact, many psychological studies tried to demonstrate the effect of humor and indicate the way to empower advertising persuasion. Animation is often used in commercials. .
What are the tactics of Supply Chain Management in their role? 5 marks
Answer:

Tactical Activities
• Sourcing contracts and other purchasing decisions.
• Production decisions, including contracting, locations, scheduling, and planning process definition.
• Inventory decisions, including quantity, location, and quality of inventory.
• Transportation strategy, including frequency, routes, and contracting.
• Benchmarking of all operations against competitors and implementation of best practices throughout the enterprise.
• Milestone Payments

What are the differences in marketing or sales? 5 Marks
Many people mistakenly think that selling and marketing are the same - they aren't. You might already know that the marketing process is broad and includes all of the following:

1. Discovering what product, service or idea customers want.
2. Producing a product with the appropriate features and quality.
3. Pricing the product correctly.
4. Promoting the product; spreading the word about why customers should buy it.
5. Selling and delivering the product into the hands of the customer.

Selling is one activity of the entire marketing process.
Selling is the act of persuading or influencing a customer to buy (actually exchange something of value for) a product or service.
Marketing activities support sales efforts. Actually, they are usually the most significant force in stimulating sales. Oftentimes, marketing activities (like the production of marketing materials and catchy packaging) must occur before a sale can be made; they sometimes follow the sale as well, to pave the way for future sales and referrals.
Summary
1. Sales target on individuals or small groups. Marketing on the other hand targets a larger group o the general public.
2. Marketing means generating leads or prospects. sales means converting the leads or prospects into purchases and orders.
3. Marketing involves a longer process of building a name for a brand and pursuing the customer to buy it even if they do not need it. Where as sales only involve a short term of finding the target consumer.




What is the scope of quantitative research?
Answer

SCOPE AND REQUIREMENTS
Both descriptive and inferential statistical techniques can be used to analyze data and draw conclusions. It involves a quantity of respondents sometimes ranging in number from ten to ten million, and may include hypotheses, random sampling techniques to enable inference from the sample to the population. Marketing research may include both experimental and quasi-experimental research designs.

What do you think that what you have negotiation skills? What are the benefits of negotiation?
Answer

Speedy and informal resolution of disputes; generally less stressful
Confidentiality and the avoidance of publicity
May improve communication between parties thereby preserving or enhancing relationships between parties
High degree of party control:
Parties create own process and craft own agreement
Legal and/or other standards of fairness can be used in crafting agreements
Agreement binds parties
Process voluntary (except where mandated by contract or legislation)
Risk-free: communications are without prejudice and if no agreement reached, parties can pursue other options


What are Inbound and outbound activities of retailers?
Answer

Retailing consists of the sale of Goods/Merchandise for Personal or Household Consumption either from a fixed location such as a department store or kiosk.
In Commerce, a retailer buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells individual items or small quantities to the general public or end user customers, usually in a shop, also called store.
Retailers are at the end of the Supply Chain. Marketers see retailing as part of their overall Distribution Strategy.
Shops may be
• In Residential Streets,
• In Shopping Streets with little or no houses,
• Or in a Shopping Centre.
Shopping streets may or may not be for pedestrians only. Sometimes a shopping street has a partial or full roof to protect customers from precipitation.
Shopping is buying things, sometimes as a Recreational Activity. Cheap versions of the latter are window shopping (just looking, not buying) and browsing.

The four major activities carried out by retailers are:

1. Arrange for assortment of offerings
2. Breaking quantity
3. Holding stock
4. Extending services

World wide web is mass media define marks 5
Answer:

Toward the end of the 20th century, the advent of the World Wide Web marked the first era in which any individual could have a means of exposure on a scale comparable to that of mass media. For the first time, anyone with a web site can address a global audience, although serving to high levels of web traffic is still relatively expensive. It is possible that the rise of peer-to-peer technologies may have begun the process of making the cost of bandwidth manageable. Although a vast amount of information, imagery, and commentary (i.e. "content") has been made available, it is often difficult to determine the authenticity and reliability of information contained in (in many cases, self-published) web pages. The invention of the Internet has also allowed breaking news stories to reach around the globe within minutes. This rapid growth of instantaneous, decentralized communication is often deemed likely to change mass media and its relationship to society. "Cross-media" means the idea of distributing the same message through different media channels. A similar idea is expressed in the news industry as "convergence". Many authors understand cross-media publishing to be the ability to publish in both print and on the web without manual conversion effort. An increasing number of wireless devices with mutually incompatible data and screen formats make it even more difficult to achieve the objective “create once, publish many”.

Q:1 what is the purposes of marketing research?(3 marks)
Determine the profitability of the market

• · Determine what customers want and need in the market

• · Determine if there are already products available that are popular in the market

• · Determine how the top rated websites in the market are selling the hot products that you find.

• · Back engineer the selling strategies of the most profitable websites in the market

• · Determine which websites dominate your market and why

• · Determine how the most popular websites in the market make money

• · Determine profit potential in the market

Q: 2 What is Transfer price and Sale Price? 3 Marks
Answer
Transfer Price

The price that is assumed to have been charged by one part of a company for products and services it provides to another part of the same company, in order to calculate each division's profit and loss separately. 

Sale Prices

The price of a good or service that is being offered at a discount. The sale price can be calculated by subtracting the discount percent from 100, converting that number into a decimal, and multiplying the decimal by the normal price of the good. For example, a good that is normally priced at $100 and currently being offered at a 10% reduction would have a sale price of $90.

Q: 3 how many ways of transmitting a marketing message using Mass Media (5 marks)
Answer

•Wall paintings
•Billboards (outdoor advertising)
•Street furniture components,
•Printed flyers
•Radio
•Cinema
•Television ads
•Web banners,
•Web popup
•Skywriting
•Bus Stop benches
•Magazines
•Newspapers
•Town criers
•Sides of buses
•Taxicab
•Musical stage shows
•Subway
•Platforms and trains
•Elastic bands on disposable diapers
•Stickers on apples in supermarkets
•The opening section of streaming audio and video
• The backs of event tickets and supermarket receipts.
Any place an "identified" sponsor pays to deliver their message through a medium is advertising.

Q: 4 Channel Members are important for a company how a company can motivate their channel Members ( 5 Marks)

Answer

CHANNEL MOTIVATION
It is difficult enough to motivate direct employees to provide the necessary sales and service support.
Motivating the owners and employees of the independent organizations in a distribution chain requires even greater effort. There are many devices for achieving such motivation. Perhaps the most usual is `bribery': the supplier offers a better margin, to tempt the owners in the channel to push the product rather than its competitors; or a competition is offered to the distributors' sales personnel, so that they are tempted to push the product. At the other end of the spectrum is the almost symbiotic relationship that the all too rare supplier in the computer field develops with its agents; where the agent's personnel, support as well as sales, are trained to almost the same standard as the supplier's own staff.

Q: 5 what is the difference of Experimental technique and Observational Technique in Marketing Research (5 Marks)

MARKETING RESEARCH METHODS
Methodologically, marketing research uses four types of research designs, namely:
• Qualitative Marketing Research - generally used for exploratory purposes - small number of respondents - not generalizable to the whole population - statistical significance and confidence not calculated - examples include focus groups, in-depth interviews, and projective techniques.

• Quantitative Marketing Research - generally used to draw conclusions - tests a specific hypothesis - uses random sampling techniques so as to infer from the sample to the population - involves a large number of respondents - examples include surveys and questionnaires.

• Observational Techniques - the researcher observes social phenomena in their natural setting - observations can occur cross-section ally (observations made at one time) or longitudinally (observations occur over several time-periods) - examples include product-use analysis and computer cookie traces.

• 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.
Researchers often use more than one research design. They may start with secondary research to get background information, and then conduct a focus group (qualitative research design) to explore the issues. Finally they might do a full nation-wide survey (quantitative research design) in order to devise specific recommendations for the client.
2. Advantage of publicity. 3
Answer

The advantages of publicity are
• Low cost
• And credibility (particularly if the publicity is aired in between news stories like on evening TV news casts).
The disadvantages are lack of control over how releases will be used, and frustration over the low percentage of releases that are taken up by the media.
Publicity draws on several key themes including
• Birth
• Love
• And death.
These are of particular interest because they are themes in human lives which feature heavily throughout life. In television serials several couples have emerged during crucial ratings and important publicity times, as a way to make constant headlines. Also known as a publicity stunt, the pairings may or may not be truthful.

3. What is length of channel, structure of different channels? 5
Answer:

CHANNEL STRUCTURE

To the various `levels' of distribution, which they refer to as the `channel length'.

• Conventional or free-flow - This is the usual, widely recognized, channel with a range of `middlemen' passing the goods on to the end-user.

• Single transaction - A temporary `channel' may be set up for one transaction; for example, the sale of property or a specific civil engineering project. This does not share many characteristics with other channel transactions, each one being unique.

• Vertical marketing system (VMS) - In this form, the elements of distribution are integrated. 

5. What are the effective advertisements? 5
Answer

The TV commercial is generally considered the most effective mass-market advertising format and this is reflected by the high prices TV networks charge for commercial airtime during popular TV events. 

TYPES OF TV COMMERCIALS
•Political TV advertising
•Infomercials
•Product placement
•Network or local station promotional advertising (also known as promo)
•Television commercial donut
•Sponsorship 
1- Why do companies require integrated marketing communications? (Marks=3)
Answer

INTEGRATED MARKETING COMMUNICATIONS
Definition:
A management concept that is designed to make all aspects of marketing communication such as advertising, sales promotion, public relations, and direct marketing work together as a unified force, rather than permitting each to work in isolation.

A MODEL FOR INTEGRATED MARKETING
Integrated Marketing Communication is more than the coordination of a company's outgoing message between different media and the consistency of the message throughout. It is an aggressive marketing plan that captures and uses an extensive amount of customer information in setting and tracking marketing strategy. 


4- List down at least five advantages of sales promotion. (Marks=5)
1. Price discrimination:
Producers can introduce price discrimination through the use of sales promotions.  They can charge different prices to different consumers and trade segments depending on how sensitive each segment is to particular prices.Coupons, special sales events, clearance sales and discounts are examples to explain the phenomenon.
Often such price discrimination are offered in specific cities in the country,Bajaj Auto Ltd. started the scheme on 20th august 2001, where by if you buy a Bajaj Spirit two-wheeler you get Rs.3000/- off, valid only in Ahmedabad.
2. Effect on consumer behaviour:
As sales promotions are mostly announced for a short period, customers may feel a sense of urgency and stop comparing the alternatives.  They are persuaded to act now rather than later.With every 500g pack of Tang, you get a free Tang glass. Offer valid only till stocks last.
3. Effect on trade behaviour:
4. Encourage Repeat Purchases
5. Providing Information
6. Increase the short term sale through discount

5- Electronic media and Print media can take many forms. Explain any five of the various forms of electronic and print media. (Marks=10)
FORMS

Electronic media and print media include:
•Broadcasting, in the narrow sense, for radio and television.
•Various types of discs or tape. In the 20th century, these were mainly used for music. Video and computer uses followed.
•Film, most often used for entertainment, but also for documentaries.
•Internet, which has many uses and presents both opportunities and challenges. Blogs and podcasts, such as news, music, pre-recorded speech and video)
•Publishing, in the narrow sense, meaning on paper, mainly via books, magazines, and newspapers.
•Computer games, which have developed into a mass form of media since devices such as the PlayStation 2
, Xbox, and the Gamecube broadened their use.