MGT 301: Principles Of Marketing Quiz! Trivia

40 Questions | Total Attempts: 1309

SettingsSettingsSettings
MGT 301: Principles Of Marketing Quiz! Trivia

Get ready for the MGT 301: Principles of Marketing quiz. Marketing is an essential part of any business. and there are different methods employed by firms to ensure new clients are drawn to business. Before coming up with a marketing strategy, there are different things to consider, and they include product, price, place, and promotion. Take up this quiz and see how these four P's are employed in a strategy to make it efficient.


Questions and Answers
  • 1. 
    If the company’s sales are slow down, and profits level off or decline. At which stage the company has reached?
    • A. 

      Introduction

    • B. 

      Decline

    • C. 

      Growth

    • D. 

      Maturity

    • E. 

  • 2. 
    A period of rapid market acceptance and increasing profits refers to which of the following stages of the product life cycle?
    • A. 

      Decline

    • B. 

      Maturity

    • C. 

      Introduction

    • D. 

      Growth

  • 3. 
    In which of the following product life cycle stages, sales are zero and the company’s investment costs mount?
    • A. 

      Product development

    • B. 

      Introduction

    • C. 

      Growth

    • D. 

      Maturity

  • 4. 
    Which one of the following groups is skeptical and adopts innovations only after most of the market has accepted the product?
    • A. 

      Innovators

    • B. 

      Late majority

    • C. 

      Early Adopter

    • D. 

      Early Majority

  • 5. 
    A review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company’s objectives refers to which one of the following concepts?
    • A. 

      Business feasibility

    • B. 

      Feasibility study

    • C. 

      Business analysis

    • D. 

      Product acceptance

  • 6. 
    After concept testing, a firm would engage in which stage for developing and marketing a new product?
    • A. 

      Marketing strategy development

    • B. 

      Business analysis

    • C. 

      Product development

    • D. 

      Test marketing

  • 7. 
    Which one of the following categories refers to a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges?
    • A. 

      Product line

    • B. 

      Line extension

    • C. 

      Private brand

    • D. 

      Product bandwidth

  • 8. 
    Marketers need to position their brands clearly in target customers’ minds. The strongest brands go beyond attributes or benefit positioning. On which of the following basis the products are positioned?
    • A. 

      Desirable benefit

    • B. 

      Good packaging

    • C. 

      Strong beliefs and values

    • D. 

      Customer image

  • 9. 
    Which one of the following attributes may grab attention and produce pleasing aesthetics, but it does not necessarily make the product perform better?
    • A. 

      Design

    • B. 

      Style

    • C. 

      Variable

    • D. 

      Packaging

  • 10. 
    You have an upset stomach. Your spouse rushes to the corner convenience store for medicine. This product falls under which of the following categories?
    • A. 

      Unsought

    • B. 

      Convenience

    • C. 

      Shopping

    • D. 

      Specialty

  • 11. 
    • A. 

      Actual product

    • B. 

      Augmented product

    • C. 

      Core benefit

    • D. 

      Co-branding

  • 12. 
    Mass marketers, such as Target and Venture Stores, ignore market segment differences, and target the whole market with one offer. What is their approach to segmenting?
    • A. 

      Undifferentiated marketing

    • B. 

      Differentiated marketing

    • C. 

      Target marketing

    • D. 

      Intelligent marketing

  • 13. 
    A marketer has brought the same products in the market for all segments without considering the needs and wants of the customers. Which one of the following strategies are being practiced by the marketer?
    • A. 

      Undifferentiated marketing strategy

    • B. 

      Differentiated marketing strategy

    • C. 

      Concentrated marketing strategy

    • D. 

      Custom marketing strategy

  • 14. 
    Demographic segmentation divides the market into groups based on which of the following variables?
    • A. 

      Size, location, industry, customer

    • B. 

      Size, company, industry, technology

    • C. 

      Location, size, occupation, race

    • D. 

      Customer, technology, company, industry

  • 15. 
    Income segmentation is used to target which of the following groups?
    • A. 

      Affluent

    • B. 

      Middle class

    • C. 

      Lower income class

    • D. 

      All of the given options

  • 16. 
    When a company identifies the parts of the market it can serve best and most profitably. Which one of the following factors is in the practice of a company?
    • A. 

      Concentrated marketing

    • B. 

      Mass marketing

    • C. 

      Targeted marketing

    • D. 

      Market segmentation

  • 17. 
    Which of the following demands that business markets have more?
    • A. 

      Derived demands

    • B. 

      Steady demands

    • C. 

      Fluctuating

    • D. 

      Competitive

  • 18. 
    The mental act, condition, or habit of placing trust or confidence in another show which of the following options?
    • A. 

      Motive

    • B. 

      Belief

    • C. 

      Behavior

    • D. 

      Attitude

  • 19. 
    People are expected to perform activities according to the persons around them. These activities reflect which one of the following concepts?
    • A. 

      Motive

    • B. 

      Role

    • C. 

      Lifestyle

    • D. 

      Tradition

  • 20. 
    How do consumers respond to various marketing efforts the company might use? What is the starting point of a buyer’s behavior?
    • A. 

      Belief

    • B. 

      Subculture

    • C. 

      Post purchase feeling

    • D. 

      Stimulus-response Model

  • 21. 
    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

  • 22. 
    General Motors need to assess the company's image relative to a new competitor. The time schedule is flexible, the research budget is very limited and a low response rate will not be a major problem. Which one of the following surveys would be used by General Motors?
    • A. 

      Mail

    • B. 

      Telephone

    • C. 

      Personal interview

    • D. 

      Population

  • 23. 
    If Proctor and Gamble need to know what percentage of customers examines product labels before making a product selection in the supermarket? By which method this study would be accomplished?
    • A. 

      Focus groups

    • B. 

      Mail surveys

    • C. 

      Personal interviews

    • D. 

      Observations

  • 24. 
    The objective of which of the following research is to gather preliminary information that will help define the problem and suggest hypotheses?
    • A. 

      Descriptive

    • B. 

      Exploratory

    • C. 

      Causal

    • D. 

      Corrective

  • 25. 
    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