Marketing Management Practice Exam Quiz!

20 Questions | Total Attempts: 2488

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Marketing Management Practice Exam Quiz!

Questions and Answers
  • 1. 
    It refers to a set of actual and potential buyers of a product or service.
  • 2. 
    “It is a social process by which individual groups obtain what they need and want through creating offerings and freely exchanging products and services of value with others”.
  • 3. 
    It refers to any person who takes more active part in the process of exchange.
    • A. 

      Marketer

    • B. 

      Seller

    • C. 

      Customer

  • 4. 
    It is as the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer values of management.
  • 5. 
    The terms ‘need’ and ‘want’ are used interchangeably in the marketing literature.
    • A. 

      True

    • B. 

      False

  • 6. 
    It is described as the set of marketing tools that a firm uses to pursue its marketing objectives in a target market.
  • 7. 
    Select 4 P's of Marketing.
    • A. 

      Product

    • B. 

      Price

    • C. 

      Place

    • D. 

      Promotion

    • E. 

      Policy

    • F. 

      Producer

    • G. 

      Packaging

  • 8. 
    Name three utilities provided by product.
    • A. 

      Functional utility

    • B. 

      Place utility

    • C. 

      Time utility

    • D. 

      Phychological utility

    • E. 

      Social utility

  • 9. 
    This is  __________ of Nike company
  • 10. 
    The________________ sets the minimum level or the floor price at which the product may be sold.
  • 11. 
    The utility provided by the product and the intensity of demand of the buyer sets the ______ limit of price.
  • 12. 
    Advertising is personal presentation and promotion of ideas, goods and services.
    • A. 

      True

    • B. 

      False

  • 13. 
    Following statements pertaining to the function performed in marketing. Select the function of marketing from the given alternative "Separating products into different classes on the basis of certain predetermined standards"
    • A. 

      Grading

    • B. 

      Standadisation

    • C. 

      Labelling

    • D. 

      Packaging