FNU MAR1011 2022 October All Quizzes Latest

MAR1011 Principles of Marketing

Week 1 Quiz

Question 1Market segmentation is the process of seeking fewer customers and reduced demand for profit maximization only.

True

False

Question 2The selling concept holds that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort.

True

False

Question 3An organization's department follows a customer-centered sense-and-respond philosophy. The department is most likely practicing the product concept.

True

False

Question 4The production concept and the product concept are marketing management orientations that are more likely to lead to marketing myopia.

True

False

Question 5The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society's interests.

True

False

 

MAR1011 Principles of Marketing

Week 2 Quiz

Question 1The major activity in strategic planning is business portfolio analysis, whereby management evaluates the products and businesses that make up the company.

True

False

Question 2On the BCG matrix, "question marks" are high-growth, high-share businesses or products.

True

False

Question 3Market penetration involves offering modified or new products to current markets.

True

False

Question 4Market development involves company growth by identifying and developing new market segments for current company products.

True

False

Question 5An American airline company started a grocery chain in Australia. This is an example of product development.

True

False

 

MAR1011 Principles of Marketing

Week 3 Quiz

Question 1The benefits of e-procurement include access to new suppliers, lower purchasing costs, and more time-efficient order processing and delivery.

True

False

Question 2Companies can allow their suppliers access to online sites on which the company posts its buying needs, requests bids, negotiates terms, and places orders, thus minimizing research steps and costs.

True

False

Question 3E-procurement has caused the time between order and delivery to increase significantly.

True

False

Question 4Digital and social media are useful primarily for consumer products and services companies.

True

False

Question 5Government organizations typically require suppliers to submit bids, and normally they award the contract to the lowest bidder.

True

False

MAR1011 Principles of Marketing

Week 4 Quiz

Question 1Through market targeting, companies divide large, diverse markets into smaller segments that can be reached more efficiently and effectively with products and services that match their unique needs

True

False

Question 2In evaluating different market segments, a firm should look at three factors: segment size and growth, segment structural attractiveness, and company objectives and resources.

True

False

Question 3A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve.

True

False

Question 4Niche marketing involves tailoring brands and promotions to the needs and wants of local customer groups–cities, neighborhoods, and even specific stores.

True

False

Question 5A product position is the way a product is defined by consumers on important attributes.

True

False

 

MAR1011 Principles of Marketing

Week 5 Quiz

Question 1Prices have a direct impact on a firm's bottom line.

True

False

Question 2Price is the most inflexible of the marketing mix elements.

True

False

Question 3Customer perceptions of the product's value set the floor for prices.

True

False

Question 4Product costs set the ceiling for prices.

True

False

Question 5In customer value-based pricing, price is considered along with all other marketing mix variables before the marketing program is set.

True

False

 

MAR1011 Principles of Marketing

Week 4 Midterm Exam

Question 1________ are human needs that are shaped by culture and individual personality.

Necessities

Wants

Demands

Values

Question 2When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia.

True

False

Question 3Amazon.com and GEICO approach customers via Web sites or mobile apps. This is an example of ________ marketing.

mass

niche

individual

direct

Question 4Direct marketing is an expensive way of reaching target markets.

True

False

Question 5A company's broad mission leads it to develop all of the following EXCEPT ________.

budget objectives

business objectives

sales objectives

marketing objectives

Question 6The major activity in strategic planning is business portfolio analysis, whereby management evaluates the products and businesses that make up the company.

True

False

Question 7The market researchers at HoneyCamp Foods gather daily sales data and sort it by product line and region. With the help of sophisticated tools and techniques, they develop the data needed by marketing managers to evaluate the market share of the company's different products and also to gain valuable market insights. This mix of people and procedures at HoneyCamp Foods that generate actionable marketing insights represents a(n) ________.

enterprise planning system

product mix

strategic planning system

marketing information system

Question 8Competitor intelligence can be collected from people inside the company, such as executives, engineers, purchasing agents, and the sales force, as well as customers.

True

False

Question 9Green Bees, a popular American heavy-metal band, will perform in Berlin during Christmas. There is a high demand for concert tickets among fans worldwide who are looking forward to the much-awaited performance. In this instance, the high demand for tickets for the Green Bees concert is representative of ________ demand.

primary

negative

derived

elastic

Question 10The main differences between business and consumer markets are in market structure and demand, the nature of the buying unit, and the types of decisions and the decision process involved.

True

False

Question 11________ consists of evaluating each market segment's attractiveness and selecting one or more segments to enter.

Positioning

Mass customization

Market targeting

Market segmentation

Question 12Demographic segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product.

True

False

Question 13Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________.

new product development

acquisition

joint venture

licensing contract

Question 14The product life cycle presents challenges. Which of the following is LEAST likely to require a company to adapt its marketing strategies?

developments in technology

decreased manufacturing costs

competition

changing tastes of consumers

Question 15Companies seldom solicit ideas from customers during the idea generation stage of product development.

True

False

 

MAR1011 Principles of Marketing

Week 8 Final Exam

Question 1What is Marketing?

Question 2Compare and contrast how the Internet has changed "connection with partners"

Question 3What is CRM?

Question 4What are the four steps of the marketing research process?

Question 5Discuss a way in which business markets differ from consumer markets.

Question 6Explain what is meant by "positioning for competitive advantage"

Question 7What is the product life cycle? List three of the five stages and explain what occurs in each stage.

Question 8List and describe the factors to consider when setting prices.

Question 9Discuss some key factors in making channel management decisions.

Question 10Wholesalers add value by performing one or more of nine channel functions. List three of these functions and explain each one.

Question 11Describe the following terms/concepts.

Market segmentation

Income segmentation

Question 12Describe the following terms/concepts.

Exchange controls

Joint venturing

Global firm

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