Quiz: Can You Score Well In Marketing Management Test?

23 Questions | Total Attempts: 62

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Marketing Management Quizzes & Trivia

Questions and Answers
  • 1. 
    A segment is unattractive when there are actual or potential ________ for the product.
    • A. 

      Contenders

    • B. 

      Competitors

    • C. 

      Substitutes

    • D. 

      Unclear demand

    • E. 

      Profit fluctuation

  • 2. 
    A(n) ________ is a group of firms that offer a product or class of products that are closesubstitutes for one another.
    • A. 

      Industry

    • B. 

      Cartel

    • C. 

      Cooperative

    • D. 

      Monopoly

    • E. 

      Demand field

  • 3. 
    Using the market approach, ________ are companies that satisfy the same customer need.
    • A. 

      Partners

    • B. 

      Competitors

    • C. 

      Entrepreneurs

    • D. 

      Innovators

    • E. 

      Followers

  • 4. 
    A group of firms following the same strategy in a given target market is called ________.
    • A. 

      Cartel

    • B. 

      Cabal

    • C. 

      Cooperative

    • D. 

      Informal alliance

    • E. 

      Strategic group

  • 5. 
    ________ is the percentage of customers who named the competitor in responding to thestatement, “Name the company from which you would prefer to buy the product.”
    • A. 

      Share of market

    • B. 

      Share of mind

    • C. 

      Share of heart

    • D. 

      Share of competitive space

    • E. 

      Share of psychological field

  • 6. 
    Most companies aim their competitive shots at ________ competitors, because this requiresfewer resources per share point gained.
    • A. 

      Strong

    • B. 

      Weak

    • C. 

      Distant

    • D. 

      “good”

    • E. 

      Unacknowledged

  • 7. 
    The aim of benchmarking is to copy or improve on ________, either within an industry oracross industries.
    • A. 

      Profitability

    • B. 

      Manufacturing

    • C. 

      Ideation

    • D. 

      Aggressiveness

    • E. 

      “best practices”

  • 8. 
    As a market follower strategy, the ________ emulates the leader’s products, name, andpackaging, with slight variations.
    • A. 

      Counterfeiter

    • B. 

      Cloner

    • C. 

      Imitator

    • D. 

      Adapter

    • E. 

      Innovator

  • 9. 
    As a market follower strategy, the ________ copies some things from the leader butmaintains differentiation in terms of packaging, advertising, pricing, or location. This strategyis tolerated by the market leader as long as the follower’s aggressiveness does not mount.
    • A. 

      Counterfeiter

    • B. 

      Cloner

    • C. 

      Imitator

    • D. 

      Adapter

    • E. 

      Adapter

  • 10. 
    In a ________ company, the obsession of the company is with the customer, not thecompetition.
    • A. 

      Niche-centered

    • B. 

      Price-centered

    • C. 

      Cost-centered

    • D. 

      Customer-centered

    • E. 

      Promotion-centered

  • 11. 
    Marketing planning begins with the formulation of an offering to ________ targetcustomers’ needs or wants.
    • A. 

      Exceed

    • B. 

      Meet

    • C. 

      Capture

    • D. 

      Compete with

    • E. 

      Comprehend

  • 12. 
    Marketers have traditionally classified products on the basis of characteristics: ________,tangibility, and use.
    • A. 

      Customer value hierarchy

    • B. 

      Expected

    • C. 

      Augmented

    • D. 

      Durability

    • E. 

      None of the above

  • 13. 
    When companies search for new ways to satisfy customers and distinguish their offeringfrom others, they look at the ________ product, which encompasses all the possibleaugmentations and transformations of the product.
    • A. 

      Consumption system

    • B. 

      Expected

    • C. 

      Potential

    • D. 

      Augmented

    • E. 

      Basic

  • 14. 
    The vast array of goods consumers buy can be classified on the basis of shopping habits.We can distinguish among convenience, ________, specialty, and unsought goods.
    • A. 

      “must haves”

    • B. 

      Impulse

    • C. 

      Shopping

    • D. 

      Business

    • E. 

      Functional

  • 15. 
    The consumer usually purchases ________ frequently, immediately, and with a minimumof effort.
    • A. 

      Specialty goods

    • B. 

      Shopping goods

    • C. 

      “must haves” goods

    • D. 

      Personal goods

    • E. 

      Convenience goods

  • 16. 
    Materials and parts are goods that enter the manufacturer’s product completely. They fallinto two classes: ________, and natural products.
    • A. 

      Component parts

    • B. 

      Raw materials

    • C. 

      Farm products

    • D. 

      Component materials

    • E. 

      None of the above

  • 17. 
    Many products can be differentiated in terms of its ________,—size, shape, or physicalstructure.
    • A. 

      Form

    • B. 

      Performance quality

    • C. 

      Conformance quality

    • D. 

      Reliability

    • E. 

      Design

  • 18. 
    The ________ of the product mix refers to how closely related the various product lines arein end use, production requirements, distribution channels, or some other way.
    • A. 

      Consistency

    • B. 

      Depth

    • C. 

      Width

    • D. 

      Length

    • E. 

      Compositione

  • 19. 
    The four stages of the product life cycle include all of the following EXCEPT ________.
    • A. 

      Decline

    • B. 

      Learning

    • C. 

      Maturity

    • D. 

      Introduction

    • E. 

      Growth

  • 20. 
    The ________ stage of the product is characterized as being one where there is period ofrapid market acceptance and substantial profit improvement.
    • A. 

      Introduction

    • B. 

      Growth

    • C. 

      Maturity

    • D. 

      Saturation

    • E. 

      Decline

  • 21. 
    According to the general bell-shaped curve used to illustrate the product life cycle, whichof the following stages is generally seen when the sales curve is at its peak?
    • A. 

      Introduction

    • B. 

      Growth

    • C. 

      Maturity

    • D. 

      Decline

    • E. 

      Abandonment

  • 22. 
    According to the illustrations describing the product life cycle, during which stage of thecycle is there a strong likelihood that negative profits will be the norm?
    • A. 

      Introduction

    • B. 

      Growth

    • C. 

      Maturity

    • D. 

      Decline

    • E. 

      Death

  • 23. 
    ________ do not normally survive (as a special category product life cycle) because theydo not normally satisfy a strong need.
    • A. 

      Styles

    • B. 

      Fashions

    • C. 

      Fads

    • D. 

      Intra-brands

    • E. 

      Trends

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