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Marketing Management - Prelim 2014

55 Questions
Management Quizzes & Trivia

This is the midterm exam of Marketing Management Chapter 1 to 3.

Questions and Answers
  • 1. 
    _______ is one that includes additional services and benefits that distiguished the company's offer from competitor's offer.
    • A. 

      Augmented product

    • B. 

      Branded product

    • C. 

      Promotional product

  • 2. 
    _____ is the official name given to an active ingredient to distiguish a product of one company from those of competitor's.
    • A. 

      Augmented product

    • B. 

      Branded product

    • C. 

      Promotional product

  • 3. 
    ________ is a manufacturer's representative acting as a consultant to a target client in marketing/business related matters for mutual benefit and long-term benefit.
    • A. 

      Augmented Product

    • B. 

      Branded Drug

    • C. 

      Consultative Marketing

  • 4. 
    The equivalent amount to obtain the product where the intended buyer will consider the product's value and price before making a choice is referred to as _________.
    • A. 

      Discount

    • B. 

      Demand

    • C. 

      Cost

  • 5. 
    _____ refers to end-users or such things that are backed by an ability and willingness to buy them, wnats to become demands when supported by purchasing power.
    • A. 

      Demands

    • B. 

      Customers

    • C. 

      Clients

  • 6. 
    _______ refers to take off a certain amount from the total worth or absolute price of the product.
    • A. 

      Demands

    • B. 

      Cost

    • C. 

      Discount

    • D. 

      Expense

  • 7. 
    _________ refers to goods a customer usually purchases frequently, immediately and with a minimum effort.
    • A. 

      Durable goods

    • B. 

      Convenience goods

    • C. 

      Staple goods

  • 8. 
    ______ are tangible goods that normally survive longer for qute some time, could be years, such as appliances, jewelry, equipments and machinery.
    • A. 

      Durable goods

    • B. 

      Convenience goods

    • C. 

      Staple goods

  • 9. 
    The act of organizing and managing a buiness or industrial undertking is called ________.
    • A. 

      Business

    • B. 

      Marketing

    • C. 

      Entrpreneurship

  • 10. 
    __________ are goods brought as the urgent need arises such as candles and matches during brown-outs and unbrellas during heavy rains.
    • A. 

      Staple goods

    • B. 

      Emergency goods

    • C. 

      Durable goods

  • 11. 
    The act requiring the inted product for whatever purpose by offering something inreturn, in either monetary or non-monetary terms.
    • A. 

      Exchange

    • B. 

      Selling

    • C. 

      Change

  • 12. 
    A set of attributes, benefits, and conditions that buyers normally desire and approve of when they finally decide to buy the product, goods and services.
    • A. 

      Marketing concept

    • B. 

      Transaction

    • C. 

      Expected product

  • 13. 
    To lay out or specify the style or the shape. size, type face, binding, or the design, the plan or arrangement of anythig.
    • A. 

      Concept

    • B. 

      Format

    • C. 

      Design

  • 14. 
    A drug product whose patent has expired or which was never patented.
    • A. 

      Branded drug

    • B. 

      Generic drug

    • C. 

      Cheaper drug

  • 15. 
    Goods brought without original intention of buying or not in the shoping list.
    • A. 

      Impulse goods

    • B. 

      Industrial goods

    • C. 

      Emergency goods

  • 16. 
    These include materials and parts, supplies and capital items, sold directly to industrial users.
    • A. 

      Emergency goods

    • B. 

      Industrial goods

    • C. 

      Impulse goods

  • 17. 
    Is a trade or commerce in a specific service or commodity.
    • A. 

      Marketing Management

    • B. 

      Marketing

    • C. 

      Market

  • 18. 
    A social and mangerial process by which individuals and groups obtain what they need and want through creatingand exchainging products and values with others.
    • A. 

      Market

    • B. 

      Marketing

    • C. 

      Marketing Management

  • 19. 
    ________ is a marketing management philosophy which states that achieving organizational goals depends on determining the needs and wants of target markets and delivering the diesired ssatisfactions mnore effectively and effifiently than comeptitors.
    • A. 

      Marketing

    • B. 

      Marketing management

    • C. 

      Marketing concept

  • 20. 
    _______ a state of felt deprivation in a person, such as food, clothing and shelter.
    • A. 

      Need

    • B. 

      Wants

    • C. 

      Satisfaction

  • 21. 
    ______ is anything that is potentially valued by target market for the benefit or satisfaction it provides including objects, services, organization, places, people and ideas.
    • A. 

      Value

    • B. 

      Service

    • C. 

      Product

  • 22. 
    A trade between two parties that involves at least two things of value, agreed upon condition, a time of agreement and a place of agreement.
    • A. 

      Transaction

    • B. 

      Production

    • C. 

      Manufacturing

  • 23. 
    The desirability of worth of a thing.
    • A. 

      Price

    • B. 

      Value

    • C. 

      Satisfaction

  • 24. 
    Something intangible such as travel services, medical and dental services, hotel and restaurant services, banking and finance servicer and many others.
    • A. 

      Product

    • B. 

      Service

    • C. 

      Vlaue

  • 25. 
    Check as many choices below the types of product.
    • A. 

      Physical objects

    • B. 

      Place

    • C. 

      Activities

    • D. 

      Persons

    • E. 

      Idea

    • F. 

      Brand

  • 26. 
    Activities undertaken by representatives of manufacturers to their clients such as merchandising, displays, conducting in-store sales promotions and many others.
    • A. 

      After sales services

    • B. 

      Warranty

    • C. 

      House service

  • 27. 
    _______ are capital assets to be acquired to support operations.
    • A. 

      After sales service

    • B. 

      Contingencies

    • C. 

      Capital additions

  • 28. 
    These are plans for extreme emergencies in the immediateor distant future.
    • A. 

      After sales service

    • B. 

      Capital markets

    • C. 

      Contingencies

  • 29. 
    The process of achieving organizational goals through engaging in planning, organizing, leading and controlloing.
    • A. 

      Management

    • B. 

      Marketing

    • C. 

      Market forecast

  • 30. 
    ______ are projections of the probable characteristics of the external and internal environment; intellectual estimates of the market potential.
    • A. 

      Marketing management

    • B. 

      Marketing conception

    • C. 

      Market forecast

  • 31. 
    A statement of the primary, continuing desired result or expectation of the business enterprises as a whole and what each of its parts is organized to deliver or achieve at a given period of time.
    • A. 

      Marketing plan

    • B. 

      Marketing forecast

    • C. 

      Marketing key objectives

  • 32. 
    Refers to the game plan or the business plan for the period inclusive of long-term and short term programs; also includes the proposed budgets.
    • A. 

      Marketing forecast

    • B. 

      Marketing plan

    • C. 

      Marketing key objectives

  • 33. 
    ____ are end-results or desired expectations of any organization or enterprises, usually expressed in quantitative terms.
    • A. 

      Objectives

    • B. 

      Planning

    • C. 

      Management

  • 34. 
    Are targets or future end-results set by lower management that address specific, measurable outcomes required from the lower levels.
    • A. 

      Objectives

    • B. 

      Operational goals

    • C. 

      Market forecast

  • 35. 
    A pretdertimend course of action or thinking before doing or deciding in advance what has to be accomplished such as setting goals, preparing budgets, etc.
    • A. 

      Forecasting

    • B. 

      Goal setting

    • C. 

      Planning

  • 36. 
    This refers to trade channels such as wholesalers, retailers, dealers and distributors goven long termpreferential treatment by mufacturers singly and independently as if they are part of company's business.
    • A. 

      Partnership

    • B. 

      Partnering with customers

    • C. 

      Lingages

  • 37. 
    • A. 

      Plannning

    • B. 

      SMART

    • C. 

      Performance standards

  • 38. 
    _____ are plans that guide thinking and action in the decision-making usually general statements that limit an area within which a decision is to be made, allows some discretion in decision-making.
    • A. 

      Performance standards

    • B. 

      Policies

    • C. 

      Strategic Goals

  • 39. 
    This criteria is used when stating Marketing Obejctives and Marketing Strategies.
    • A. 

      Strategies

    • B. 

      Policies

    • C. 

      SMART

  • 40. 
    _______ are broadly defined targets or future end results set by higher management.
    • A. 

      Policies

    • B. 

      Strategic goals

    • C. 

      Strategies

  • 41. 
    _______ focuses on what customers do, by the type of product bought and frequency of buying.
    • A. 

      Behavioral segmentation

    • B. 

      Benefits segmentation

    • C. 

      Concentrated Segmentation

  • 42. 
    Identifies segments by what consumers want; by the need for performance, durability or economy, by buyer's emphasis on delivery, reputation and convenience.
    • A. 

      Behavioral segmentation

    • B. 

      Benefits segmentation

    • C. 

      Concentrated segmentation

  • 43. 
    Involves targeting one product to one segment; tends to appeal to smaller firms with limited resources.
    • A. 

      Behavioral Segmenation

    • B. 

      Benefits Segmentation

    • C. 

      Concentrated Segmentation

  • 44. 
    Refers to grouping of customers of various products in the marketplace such as age, sex, income, education,etc.
    • A. 

      Demographics factors

    • B. 

      Geographic factors

    • C. 

      Lifestyle segmentation

  • 45. 
    The firm differentiates ts product offerings to meets the needs of  a particular segments; the firm appeals to more segments, fragments its efforts and increases its cost.
    • A. 

      Geographic factors

    • B. 

      Differentiated Segmentation

    • C. 

      Demographic factors

  • 46. 
    Refers to grouping of customers of various products in the marketplace according to according to cities, towns, municpalities, barangays and sitios.
    • A. 

      Demographic factors

    • B. 

      Geographic factors

    • C. 

      Market positioning

  • 47. 
    Refers to grouping of customers of various products based on such factors as being health-consoius, introvert or extrovert type, family or socially oriented, innovation or creative achievement and organizational objectives.
    • A. 

      Lifestyle Segmentation

    • B. 

      Market Segmentation

    • C. 

      Personality Semgmentation

  • 48. 
    The process of planning and executing the conception, pricing, promotions and distribution of goods, servicee and ideas to create exchanges with target groups that satisfy customer and organization objectives.
    • A. 

      Product management

    • B. 

      Marketing management

    • C. 

      Quality Management

  • 49. 
    ______ means arranging for a product to occupy a clear, distinctive and desirable place in the minds of target consumers relative to competition. 
    • A. 

      Organizational Characteristics Segmentation

    • B. 

      Market Positioning

    • C. 

      Market segmentation

  • 50. 
    The process of identifying more homogeneous sub-markets or segments wihtin a market, in order to select target markets and develop suitable marketing mixes.
    • A. 

      Personality segmentation

    • B. 

      Market Segmentation

    • C. 

      Product line segmentation

  • 51. 
    ________ involves targeting one product to one segment; tends to appeal to smaller firms with limited resources.
    • A. 

      Product positioning

    • B. 

      Personality segmentation

    • C. 

      Market segment expansion

  • 52. 
    Refers to segmenting by consumer charactersitics such as aggressive, dominant, impulsive, authoritarian, ambitious, compulsive, etc.
    • A. 

      Personality segmentation

    • B. 

      Product line segmentation

    • C. 

      Product positioning

  • 53. 
    Directing several products to one segment. These products are usually part og a single product line.
    • A. 

      Product line segmentation

    • B. 

      Personality segmentation

    • C. 

      Product positioning

  • 54. 
    Refers to product differentiation, that in spite of their being at par with other products or "me too" or "copy cats" or exact replicas of other products, you are able to point out a distinct feature or characteristics of products in your communications program.
    • A. 

      Product Segmentation

    • B. 

      Product positioning

    • C. 

      Product line positioning

  • 55. 
    _______ refers to grouping of customers of various products in the marketplace according to usage rates, frequency and motivations for buying.
    • A. 

      Psychographic factors

    • B. 

      Strategic planning

    • C. 

      Customer management