MGT 301 Marketing Trivia Quiz Questions!

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MGT 301 Marketing Trivia Quiz Questions! - Quiz

Mock up for Final Exam


Questions and Answers
  • 1. 

    Q - Management Information System consists of people, equipment, and procedures to gather, sort, ____________, evaluate, and distribute information to marketing decision makers.

    • A.

      Test

    • B.

      Arrange

    • C.

      Analyze

    • D.

      Control

    Correct Answer
    C. Analyze
    Explanation
    Management Information System (MIS) is a system that involves various components such as people, equipment, and procedures to collect, organize, and process data into meaningful information. The missing word in the question is "Analyze". Analyzing information is an essential step in the MIS process as it involves evaluating and interpreting the data collected. By analyzing the information, marketing decision-makers can gain insights, identify trends, and make informed decisions based on the findings. Therefore, "Analyze" is the most appropriate word to complete the sentence and accurately describe the role of MIS in information processing and decision-making.

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  • 2. 

    Q - The systematic collection and analysis of publicly available information about competitors and developments in the marketing environment is very useful. It is known as:

    • A.

      Marketing data

    • B.

      Marketing intelligence

    • C.

      Web Master

    • D.

      Secondary data

    Correct Answer
    B. Marketing intelligence
    Explanation
    Marketing intelligence refers to the systematic collection and analysis of publicly available information about competitors and developments in the marketing environment. This includes gathering data on competitors' strategies, market trends, customer preferences, and other relevant information. By analyzing this information, companies can gain valuable insights and make informed decisions to stay competitive in the market. Marketing intelligence helps businesses stay updated on market dynamics, identify opportunities and threats, and adjust their marketing strategies accordingly. It is an essential tool for effective decision-making and achieving marketing success.

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  • 3. 

    Q - Which of the following steps in the marketing research process has been left out: defining the problems and research objectives, implementing the research plan, and interpreting and reporting the findings?

    • A.

      Developing the research budget

    • B.

      Choosing the research agency

    • C.

      Choosing the research method

    • D.

      Developing the research plan

    Correct Answer
    D. Developing the research plan
    Explanation
    The correct answer is "Developing the research plan". This step involves determining the specific research objectives, selecting the appropriate research design, and outlining the overall research approach. It is an essential step in the marketing research process as it helps in guiding the data collection and analysis process. Without developing a research plan, the other steps in the process, such as implementing the research plan and interpreting and reporting the findings, cannot be effectively carried out.

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  • 4. 

    Q - Harvard University is using the systematic design, collection, analysis, and reporting of data relevant to marketing its programs to minority students. What do we call this?

    • A.

      Promotion

    • B.

      Self-study

    • C.

      Marketing research

    • D.

      Cost-benefit analysis

    Correct Answer
    C. Marketing research
    Explanation
    Harvard University is engaging in the systematic process of designing, collecting, analyzing, and reporting data to understand and target its marketing efforts towards minority students. This process is known as marketing research. Through marketing research, Harvard can gather insights and information about the preferences, needs, and behaviors of minority students, allowing them to tailor their promotional strategies and effectively reach this specific target audience.

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  • 5. 

    Q - Which one of the following schemes is TRUE regarding marketing research?

    • A.

      Gathering data, analysis, interpretation

    • B.

      Analysis, gathering data, interpretation

    • C.

      Interpretation, gathering data, analysis

    • D.

      Interpretation, reporting, analysis

    Correct Answer
    A. Gathering data, analysis, interpretation
    Explanation
    The correct order for marketing research is gathering data, analysis, and interpretation. This is because the first step in any research process is to collect relevant data, which can be done through surveys, interviews, or observations. Once the data is gathered, it needs to be analyzed to identify patterns, trends, and insights. Finally, the findings from the analysis are interpreted to draw meaningful conclusions and make informed decisions. Therefore, the correct scheme for marketing research is gathering data, analysis, and interpretation.

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  • 6. 

    Q - Which form of data can usually be obtained more quickly and at a lower cost?

    • A.

      Primary

    • B.

      Census

    • C.

      Secondary

    • D.

      Tertiary

    Correct Answer
    C. Secondary
    Explanation
    Secondary data refers to data that has already been collected and is readily available for use. It is usually obtained more quickly and at a lower cost compared to primary data, which requires new data collection. Secondary data can be obtained from various sources such as government agencies, research institutions, or published reports. It is often used for preliminary research, trend analysis, or to supplement primary data.

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  • 7. 

    Q - Which one of the following is NOT one of the stages that customers go through in the process of adopting a new product?

    • A.

      Awareness

    • B.

      Interest

    • C.

      Evaluation

    • D.

      Culture

    Correct Answer
    D. Culture
    Explanation
    Culture is not one of the stages that customers go through in the process of adopting a new product. The stages that customers typically go through are awareness, interest, and evaluation. Culture refers to the beliefs, values, and behaviors of a particular group or society, and it does not directly relate to the process of adopting a new product.

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  • 8. 

    Which one of the following statements BEST characterizes marketing research?

    • A.

      Research is a continuous process, providing a constant flow of information

    • B.

      Research is conducted on a special-project basis

    • C.

      Research is performed when routine information is required

    • D.

      Research is the basis for making recurring marketing decisions

    Correct Answer
    B. Research is conducted on a special-project basis
    Explanation
    Marketing research is typically conducted on a special-project basis rather than being a continuous process. Special projects are designed to gather specific information, such as consumer insights, market trends, or competitive analysis, to support decision-making in marketing. This approach allows companies to focus their resources and efforts on specific research objectives, ensuring that the information collected is relevant and actionable.

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  • 9. 

    If ABC Ltd knows that its market share in Pakistan has dropped 13 percent in the first quarter of the year but does not know what might have contributed to this decline; it is in which stage of the marketing research process?

    • A.

      Hypothesis development

    • B.

      Symptom identification

    • C.

      Problem identification

    • D.

      Data interpretation

    Correct Answer
    C. Problem identification
    Explanation
    The given scenario suggests that ABC Ltd is aware of a decline in its market share in Pakistan but does not know the reasons behind it. This indicates that the company is in the stage of problem identification in the marketing research process. In this stage, the focus is on identifying and defining the problem or issue that needs to be addressed through research. Once the problem is identified, further steps can be taken to gather data, analyze it, and develop hypotheses to understand the causes of the decline in market share.

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  • 10. 

    A person on the University Book Shop's survey asks respondents to tell the shop, in their own words, what they like least about textbook shopping. What is a type of this question?

    • A.

      An open-ended

    • B.

      A dichotomous

    • C.

      A multiple choice

    • D.

      A scale

    Correct Answer
    A. An open-ended
    Explanation
    An open-ended question is a type of question that allows respondents to provide their own answers in their own words, without being limited to a set of predetermined options. In this case, the question asks respondents to share what they like least about textbook shopping, without providing any specific answer choices. This allows for a wide range of responses and provides more detailed and personalized feedback for the University Book Shop.

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  • 11. 

    Marketing researchers usually draw conclusions about large groups of consumers by studying which of the following small components of the total consumer population?

    • A.

      Group

    • B.

      Sample

    • C.

      Target group

    • D.

      Audience

    Correct Answer
    B. Sample
    Explanation
    Marketing researchers usually draw conclusions about large groups of consumers by studying a sample of the total consumer population. A sample is a smaller, representative subset of the population that is selected for research purposes. By studying this sample, researchers can gather insights and information that can be generalized to the larger population. This allows them to make conclusions and predictions about consumer behavior, preferences, and trends on a larger scale.

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  • 12. 

    The process by which people select, organize and interpret information to form a meaningful picture of the world. It refers to which one of the following?

    • A.

      Personality

    • B.

      Perception

    • C.

      Selective group

    • D.

      Habitual behavior

    Correct Answer
    B. Perception
    Explanation
    Perception refers to the process by which people select, organize, and interpret information to form a meaningful picture of the world. It involves the way individuals perceive and make sense of their surroundings, including their thoughts, emotions, and behaviors. Perception plays a crucial role in shaping our understanding of the world and influences our interactions and decision-making processes.

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  • 13. 

    Which one of the following concepts refers to the “set of actions and activities associated with each position one holds within a family, club and organization”?

    • A.

      Personality

    • B.

      A role

    • C.

      Perception

    • D.

      An attitude

    Correct Answer
    B. A role
    Explanation
    A role refers to the set of actions and activities associated with each position one holds within a family, club, or organization. It signifies the responsibilities, duties, and behaviors that individuals are expected to fulfill based on their position or status within these social groups. Roles help establish and define the expectations and norms within these groups, guiding individuals on how to interact and contribute effectively.

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  • 14. 

    Marketing stimuli consist of the four Ps. Which is NOT one of these Ps?

    • A.

      Product

    • B.

      Price

    • C.

      Political

    • D.

      Promotion

    Correct Answer
    C. Political
    Explanation
    The four Ps in marketing refer to Product, Price, Promotion, and Place. These are the key elements that companies use to create and implement their marketing strategies. However, "Political" is not one of the Ps. Political factors may influence marketing decisions, but it is not considered one of the fundamental elements of marketing stimuli.

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  • 15. 

    Groups of people with shared value systems based on common life experiences and situations in a culture represent which one of the following options?

    • A.

      Cognitive dissonances

    • B.

      Subcultures

    • C.

      Motives

    • D.

      Attitudes

    Correct Answer
    B. Subcultures
    Explanation
    Subcultures are groups of people who share common value systems based on their shared life experiences and situations within a larger culture. These subcultures may have their own distinct beliefs, behaviors, and norms that differentiate them from the dominant culture. This can include subcultures based on factors such as age, ethnicity, religion, or occupation.

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  • 16. 

    A change in an individual's behavior prompted by information and experience refers to which one of the following concepts?

    • A.

      Learning

    • B.

      Role selection

    • C.

      Perception

    • D.

      Motivation

    Correct Answer
    A. Learning
    Explanation
    Learning refers to a change in behavior that occurs as a result of acquiring new knowledge or skills through information and experience. When an individual's behavior is influenced by the information they receive and the experiences they have, it indicates that they are learning and adapting their behavior accordingly. This concept of learning is closely related to the process of acquiring new knowledge and skills, and it involves a change in behavior based on the information and experiences gained.

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  • 17. 

    Person’s pattern of living as expressed in his or her psychographics represents which one of the following concepts?

    • A.

      Personality

    • B.

      Culture

    • C.

      Lifestyle

    • D.

      Motive

    Correct Answer
    C. Lifestyle
    Explanation
    The person's pattern of living, as expressed in their psychographics, refers to their lifestyle. Psychographics is the study of people's attitudes, interests, and opinions, which helps in understanding their behavior and choices. Lifestyle encompasses various aspects such as activities, interests, opinions, values, and habits that define how a person lives their life. Therefore, the concept that best aligns with a person's pattern of living expressed in their psychographics is lifestyle.

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  • 18. 

    Maslow has a list of human needs from the most pressing to the least pressing. They include all of the following EXCEPT:

    • A.

      Physiological needs

    • B.

      Safety needs

    • C.

      Need recognition

    • D.

      Self-actualization

    Correct Answer
    C. Need recognition
    Explanation
    Maslow's hierarchy of needs is a theory that categorizes human needs into a pyramid structure, with physiological needs at the base and self-actualization at the top. The needs listed in the question - physiological needs, safety needs, and self-actualization - are all part of Maslow's hierarchy. However, "need recognition" is not one of the needs identified by Maslow. It is possible that "need recognition" refers to the process of becoming aware of one's needs, but it is not explicitly mentioned in Maslow's theory.

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  • 19. 

    A transaction in which the organization is making an initial purchase of an item to be used to perform a new job refers to which of the following purchases?

    • A.

      Straight rebuy purchase

    • B.

      Delayed purchase

    • C.

      Modified rebuy purchase

    • D.

      New-task purchase

    Correct Answer
    D. New-task purchase
    Explanation
    A new-task purchase refers to a transaction in which an organization is buying an item for the first time to fulfill a new job or project. This means that the organization has not purchased this item before and is acquiring it specifically for the purpose of the new job. This type of purchase requires more decision-making and evaluation compared to other types of purchases, as the organization needs to assess the suitability of the item for the new task.

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