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Market and Product Quiz

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Market and Product Quiz

shape Introduction

What is Market? "A Market is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services in exchange for money from buyers."
What is Product Marketing? "Product Marketing is a process of promoting and selling a product to a customer. Also product marketing is defined as being the intermediary function between product development and increasing brand awareness."
The article Market and Product Quiz provides Important Marketing Aptitude multiple choice questions with answers useful to the candidates preparing for Bank exams like IBPS PO, MT Exam, Dena Bank PO, Bank PO, Clerk, SBI, RBI etc.

shape Quiz

1. At the center of a brand's characteristics is ____ .
    A. Identity B. Image C. Value D. All of the above E. None of above

2. Brand management is important as _____ .
    A. Companies wanted to achieve scale economies. B. It supplemented financial management practices C. It suited production and operations personnel D. Companies wanted to differentiate their products and highlight distinctions in acompetitive environment. E. None of these

3. Brands like to stay contemporary as_____ .
    A. Others do it B. To stay attractive C. Upholding the contract D. All of the above E. None of the above

4. Features and attributes of brands translate into benefits and ______ are also fulfilled.
    A. Customer values B. Brand values C. Organizational goals D. Brand associations E. None of these

5. A good brand contract ______ .
    A. Keeps customer perspective in view B. Delivers promises made to customers C. Isolates negative promises D. All of the above E. None of these

6. Continuously renewing the difference makes your product ____________.
    A. Look superior B. Unacceptable C. Not conform with evolving changes D. Conform to the changing behavior and beliefs of customers E. None of these

7. A brand-based model reveals _____.
    A. Why customers buy specific brands? B. The underlying motives for purchasing brands? C. Why companies keep their brands contemporary? D. All of the above E. None of the above

8. Brand management should ensure that _____ must match consumers’ perceptions.
    A. Brand pinnacle B. Brand's persona C. Brand associations D. Brand value E. None of these

9. While developing the brand picture, you envision _____.
    A. Attributes B. Obsessions C. Benefits D. All of the above E. None of the above

10. To have value, a brand must offer _____ ?
    A. A simple product range with defined features B. A complex product range with defined features C. Consistency which reduces perceived risk for the buyer, and a range of functional and emotional attributes which are valued by the buyer D. An identity through which the customer can trace the party responsible for supplying the product E. None of these

Answers
1. Answer - Option C
2. Answer - Option D
3. Answer - Option C
4. Answer - Option A
5. Answer - Option D
6. Answer - Option D
7. Answer - Option D
8. Answer - Option B
9. Answer - Option D
10. Answer - Option C
1. If two different brands are distributed by one company, it is _____.
    A. Wholesale B. Co-branding C. Joint venture D. Merger E. None of these

2. Power based on a channel member’s superior knowledge and knowledge about the products is _____.
    A. Expert power B. Legitimate power C. Coercion D. Retailer power E. None of these

3. Investment of time and money is required for _____ but results are not guaranteed.
    A. Growth B. Profitability C. Branding D. Promotion E. None of these

4. Brands are born out of _____ strategies.
    A. Segmentation and differentiation B. Promotion C. Good purchasing and supply chain D. All of the above E. None of the above

5. Brand identity is followed by _________, which reflects what marketers plan to send to the public
    A. Brand value B. Brand image C. Advertising D. Brand personality E. None of these

6. Right branding increases _____ of the product, which should be more than that of the generic product.
    A. Consumer revolt B. Market share C. Profit D. Value E. None of these

7. _____ are incurred by brands due to failures and questionable business practices which increases costs and liabilities.
    A. Brand assets B. Brand liabilities C. Brand equities D. Market failures E. None of these

8. Introduction of additional brands and extensions leads to _____ with no benefits to consumers.
    A. Higher cost B. Greater revenue C. Brand proliferation D. More competition E. None of these

9. While defining an industry, brand managers must consider.
    A. The range of products and services offered by the industry B. A picture of the geographic cover of the industry C. Both [a] and [b] D. All of the above E. None of the above

10. The difference between company’s present financial position and the financial objectives is _____.
    A. Contribution gap B. Contribution margin C. Financial objectives' failure D. Low demand in market E. None of these

Answers
1. Answer - Option B
2. Answer - Option A
3. Answer - Option A
4. Answer - Option A
5. Answer - Option B
6. Answer - Option D
7. Answer - Option B
8. Answer - Option C
9. Answer - Option C
10. Answer - Option A
1. A _____ has to answer questions like what would be the market if our brand did not exist.
    A. Brand image B. Brand picture C. Brand manager D. Brand association E. None of these

2. Brand assets include _____.
    A. Name of the brand B. Reputation, relevance, and loyalty C. Low quality complaints D. All of the above E. None of the above

3. A change in positioning may result in _____ in price.
    A. An upward change B. A downward change C. Both [a] and [b] D. No change E. None of the above

4. _____ occurs by maintaining brand contract while innovating and modifying to stay current.
    A. Sustainability B. Fit C. Uniqueness D. Credibility E. None of these

5. When we keep the same brand name for new offerings to enable customers to develop familiarity, the resultant phenomenon is _____.
    A. Leveraging B. Extension C. Diversification D. Stretching E. None of these

6. Introduction of stronger dosage of a medicine is _____ ?
    A. Brand extension B. Line extension C. Brand diversification D. All of the above E. None of the above

7. Brands get diversified because _____.
    A. It is essential for brand survival B. Some brands have high awareness and are perceived by customers to belong to categories where they are not present. C. Cost-cutting is possible by advertising products with the same brand name D. All of the above E. None of the above

8. _____ relates to extra benefits that a brand offers to its customers.
    A. Entire positioning B. Point of difference C. Definition of business D. Innovation E. None of these

9. Benefits of different brands EXCLUDE _____.
    A. Quickly respond to retailers' need B. Effectively compete in market C. Save the actual brand image D. Fill all existing gaps in the market E. None of these

10. If the same brand name is used for several products in different markets, it is an ________.
    A. Umbrella brand B. Source brand C. Multi-brand D. Range brand E. None of these

Answers
1. Answer - Option B
2. Answer - Option B
3. Answer - Option C
4. Answer - Option D
5. Answer - Option A
6. Answer - Option B
7. Answer - Option D
8. Answer - Option B
9. Answer - Option D
10. Answer - Option A
1. Clarity about dimensions of brands means clarity in ____ .
    A. Functions of brand B. Aspects of differentiation C. Both [a] and [b] D. Dimensions E. None of the above

2. XXX is selecting and analyzing a target market and developing a marketing mix to gain long-run competitive advantages. XXX is creating a.
    A. Corporate strategy B. Target design C. Mix strategy D. Marketing strategy E. None of these

3. Direct consumers of a nonprofit organization are its ____ .
    A. Consumer public B. Member public C. Client public D. Non business public E. None of these

4. _____ organization is customer-centric and its decisions are based on involvement of all in the organization.
    A. Brand based B. Consumer based C. Marketing D. Competition based E. None of these

5. Measuring your brand’s performance means you are ____ .
    A. Managing your brand right B. Measuring your strategies C. Maintaining your brand position D. Maintaining your brand picture E. None of these

6. Critical success factors for a firm includes _____.
    A. Changing lifestyles and attitudes B. Low-cost production efficiency C. Both [a] and [b] D. Marketing strategy E. None of the above

7. _____ forms the basis of asset the brand has .
    A. Tangible assets B. Intangible assets C. Current assets D. Fixed assets E. None of these

8. Functional risk of brand is related to _____ .
    A. Price B. Performance C. Social image D. Self image E. None of these

9. With the help of professionals in a company, produce end product which is related to _____ .
    A. Brand creation B. Idea creation C. Brand management D. Marketing management E. None of these

10. A differentiated product may be unique by itself but it will only be successful only _____ .
    A. if it satisfies customers’ needs B. if price differential is minimal C. if brand can be classed as aspirational D. differentiated products will always be successful E. None of these

Answers
1. Answer - Option C
2. Answer - Option D
3. Answer - Option C
4. Answer - Option A
5. Answer - Option A
6. Answer - Option B
7. Answer - Option B
8. Answer - Option B
9. Answer - Option A
10. Answer - Option A
1. Which of the following statements about choosing a name for a new soft drink is UNTRUE?
    A. Name should be memorable and easy to pronounce B. Name must be checked by experts to ensure it doesn't infringe on another brand C. The name should have positive associations with benefits and features of the product D. Brand name must be modern and contemporary E. None of these

2. _____ indicates brand strength?
    A. Brand reputation B. Patents and rights C. Perceived brand values D. Growth rate E. None of these

3. If lots of customers like the brand and are inclined to be bound into a contract, they would be known as _____.
    A. Loyal customer B. Difficult customer C. Potential customer D. Finicky customer E. None of these

4. Establishing and maintaining a distinctive place in the market for an organization/product is _____.
    A. Profiling B. Profiling segmentation C. Segmentation D. Positioning E. None of these

5. Brand strategy and its implementation crucial for complete performance of the brand and is the responsibility of ___ .
    A. Chief Branding Officer B. Chief Executive officer C. President of company D. Director of Company E. None of these

6. _____ shows how consistent customers are in buying your brand, how long they have been buying and how long they may buy?
    A. Customer loyalty B. Brand loyalty C. Product loyalty D. Company loyalty E. None of these

7. Brand stature construct is equivalent to _____.
    A. Esteem multiplied by knowledge B. Differentiation multiplied by knowledge C. Knowledge multiplied by relevance D. Esteem multiplied by differentiation E. None of these

8. If a company introducing a new brand under source brand or endorsing brand strategy to gain the benefits of brand power, it can charge a _____
    A. Premium price B. Skimming price C. Market based price D. Retail price E. None of these

9. _____ of ad means how frequently you should expose your target group to your message.
    A. Frequency B. Copy C. Copy strategy D. Media E. None of these

10. Image of a brand is _____ with the customer
    A. Actual association B. Vision C. Positioning D. Personality traits E. None of these

Answers
1. Answer - Option D
2. Answer - Option D
3. Answer - Option D
4. Answer - Option A
5. Answer - Option A
6. Answer - Option A
7. Answer - Option A
8. Answer - Option A
9. Answer - Option A
10. Answer - Option A
1. A brand based organization provides _____ .
    A. Clarity of role B. Commitment to brand growth C. Collective responsibility D. All of the above E. None of the above

2. _____ lets you to have a loyal customer's lifetime worth in terms of brand purchasing.
    A. Lifetime value of a customer B. Lifetime value of a brand C. Lifetime value of a company D. Lifetime value of a market E. None of these

3. __________ lets you to have a clear picture of the number of customers your brand has in comparison with the competition.
    A. Market share B. Brand share C. Product share D. Customer share E. None of these

4. _____ evokes a hierarchical set of customer response effects i.e. building awareness, comprehension, intentions, and actions.
    A. Distribution B. Communication C. Merchandising D. Branding E. None of these

5. To keep your brand recognized it is important to _____.
    A. Advertise B. Position C. Place D. Market E. None of these

6. In _____ internal workshop detailed strategic definition and Bobjectives of the brand is presented.
    A. Brand chartering B. Brand planning C. Brand extension D. Brand equity E. None of these

7. A brand is a means of
    A. naming the products B. packaging of the products C. contents of the products D. identifying and differentiating the company’s products E. None of the above

8. A _____ organization is customer-centric, and all its decisions are based on involvement of all in the organization
    A. Brand-based B. Customer-based C. Product-based D. None of the above E. None of these

9. A PC with processor’s specifications, size of hard disk and RAM capacity shows ____.
    A. Explicit promise B. Implicit promise C. Positive promise D. Negative promise E. None of these

10. Market is divided into groups on the basis of age, family size, gender, income, occupation, education, religion, race, generation, nationality, or social class is the best description of _____ .
    A. Demographics B. Psycho-graphics C. Behavioral D. Geographic E. None of these

Answers
1. Answer - Option D
2. Answer - Option A
3. Answer - Option A
4. Answer - Option B
5. Answer - Option A
6. Answer - Option A
7. Answer - Option D
8. Answer - Option B
9. Answer - Option A
10. Answer - Option A
1. Building a brand vision is very serious and cannot be decided by a single individual as it involves _____.
    A. Marketing B. Finance C. Production D. Promotion E. None of these

2. _____ is the first step of the strategic brand management process .
    A. Building brand mission B. Building brand vision C. Building brand objectives D. Building brand picture E. None of these

3. What approach should a brand manager adopt to know the status of a brand in terms of consumer perceptions?
    A. Compare two or three brands B. Analyze market segmentation C. Select potential target markets D. Understand customer’s needs E. None of these

4. While determining levels of preferences of consumers in relation to the criterion consumers give priority to a brand due _____.
    A. Customer service B. Consistent performance C. Price value relationship D. Accessibility E. None of these

5. A sound mission and value statement must NOT be ____ .
    A. Memorable B. Pragmatic C. Lengthy D. Inspiring E. None of these

6. Brand picture is based on _____.
    A. Brand value B. Brand mission C. Brand vision D. Brand image E. None of these

7. Unique Selling Proposition (USP) started in _____.
    A. Advertising era B. Image era C. Product era D. Positioning era E. None of these

8. A garment manufacturer is launching an existing brand name into a new product category. He is adopting _____.
    A. Line extension B. Multi brand C. Brand extension D. Re branding E. None of these

9. _____ is a marketer’s major positioning tools with a direct impact on product or service performance and is closely linked to customer value and satisfaction.
    A. Social marketing B. Product quality C. Specialty marketing D. Position marketing E. None of these

10. Opportunities for growth and expansion are identified by finding _____.
    A. Customers' beliefs about the segment B. Customers believe about competitors C. Customer's perceptions about the brand D. Customer's response about the products E. None of these

Answers
1. Answer - Option B
2. Answer - Option B
3. Answer - Option A
4. Answer - Option B
5. Answer - Option C
6. Answer - Option D
7. Answer - Option C
8. Answer - Option C
9. Answer - Option B
10. Answer - Option A
1. _____ years are required to change brand position?
    A. Two to five years B. Three to six years C. Two to six years D. Three to five years E. None of these

2. _____ is getting into different versions of the same market?
    A. Product extension B. Brand diversification C. Market extension D. Line extension E. None of these

3. _____ is a "concise statement summarizing a brand's commitment to target consumers and communicates the advantage over competing brands".
    A. Vision statement B. Mission statement C. Positioning statement D. Value statement E. None of these

4. Whichever position you may like to choose, it has to stem from _____.
    A. Customers B. Competitors C. General Managers D. Brand owners E. None of these

5. _____ is NOT a competitive differentiation .
    A. Product B. Sales C. Service D. Image E. None of these

6. Marketers need to position their brands clearly in target customers' minds. Strongest brands go beyond attributes or benefit positioning. They are positioned on the basis of _____ .
    A. Desirable benefit B. Good packaging C. Strong beliefs and values D. Service inseparability E. None of these

7. Business growth due to internal working of an organization is _____.
    A. Acquisition B. Organic growth C. Rapid growth D. Licensing E. None of these

8. ______ is the characteristic of personality of a brand .
    A. Logo B. Packaging C. Color D. Durability E. None of these

9. A strong brand refers to _____ .
    A. Potential to charge a premium price B. Helps to recover development and launch costs C. Provides a base of loyal customers D. All of the above E. None of these

10. A clothing company getting into perfumes is an example of _____.
    A. Perceived difficulty of manufacture B. Know-how transfer-ability C. Complementarities D. Awareness and reputation of the parent company E. None of these

Answers
1. Answer - Option D
2. Answer - Option D
3. Answer - Option B
4. Answer - Option A
5. Answer - Option B
6. Answer - Option C
7. Answer - Option B
8. Answer - Option D
9. Answer - Option A
10. Answer - Option C
1. _____ brand strategy will gives the benefit of premium pricing?
    A. Umbrella brand strategy B. Line brand strategy C. Product brand strategy D. Family brand strategy E. None of these

2. _____ is a set of promises that a brand makes to the customers?
    A. Brand contract B. Brand association C. Brand persona D. Brand equity E. None of these

3. When brand management becomes the heart of marketing then _____ is the heart of brand management.
    A. Owner's equity B. Brand equity C. Brand assets D. Brand value E. None of these

4. _____ is created by management for the consumer and itself through good brands.
    A. Value B. Price C. Cost D. Rate E. None of these

5. When two brands join to create a single brand by using the strong expressions of both, this is _____.
    A. Bundling B. Branding C. Brand management D. Brand equity E. None of these

6. “Intel inside” is an example of _____ .
    A. Bundling B. Ingredient co-branding C. Joint venture D. Effective packaging E. None of these

7. Introducing additional items in the same product category by adding new flavors, forms, colors, ingredients or package sizes, under the same brand name, is _____.
    A. Line extensions B. Product mix C. Interactive marketing D. Service intangibility E. None of these

8. _____ is the characteristic of personality of a brand.
    A. Logo B. Packaging C. Color D. Durability E. None of these

9. A strong brand refers to _____ .
    A. Greater potential to charge a premium price B. Helps to recover development costs C. Provides large base of loyal customers D. All of the above E. None of these

10. _____ indicates a company's desire to meet market demand through differentiated products and different brands and different identities.
    A. Brand portfolio B. Brand extension C. Line extension D. Brand diversification E. None of these

Answers
1. Answer - Option A
2. Answer - Option A
3. Answer - Option B
4. Answer - Option A
5. Answer - Option A
6. Answer - Option B
7. Answer - Option A
8. Answer - Option B
9. Answer - Option A
10. Answer - Option A
1. _____ layer is slightly wider than line brands.
    A. Family brands B. Range brands C. Umbrella brands D. Product brands E. None of these

2. _____ is NOT TRUE about brand perception.
    A. People perceive the brand as a whole B. Perception is comprehensive C. Consumers' perception is the reality D. Brand has a personality E. None of these

3. Positioning has to stem from the point of view of _____.
    A. Customers' B. Competitors' C. General Managers' D. Brand Owners' E. None of these

4. _____ is a marketer's major positioning tool that has a direct impact on product performance and is linked to customer value.
    A. Product quality B. Social marketing C. Specialty marketing D. Production quality E. None of these

5. To update brand position is essential. How many criteria are adapted to judge if there is need for updating?
    A. Four B. Three C. Six D. Five E. None of these

6. ______ determines why customers buy?
    A. Customer needs analysis B. Brand-based customer model C. Good brand promise D. Brand management process E. None of these

7. The more the customers are knowledgeable of a brand's promises, the more they are inclined to be bound into a _____.
    A. Contract B. Agreement C. Settlement D. Negotiation E. None of these

8. ‘USP’ of a product means_____.
    A. High selling features of a product B. Drawbacks of a product C. New features of a product D. Efficient staff E. Large organization

9. When any brand of cooking oil is launched with a new formula for more safety it is an example of _____ .
    A. Extending the target market B. Extending definition of business C. Extending the point of difference D. Extending entire positioning E. None of these

10. You do not give the same treatment to a fake brand even if it carries the label that may look genuine as _____ .
    A. Actual brand is not there B. Competing brands are there C. Actual brand is there D. None of the above E. None of these

Answers
1. Answer - Option A
2. Answer - Option B
3. Answer - Option A
4. Answer - Option D
5. Answer - Option C
6. Answer - Option A
7. Answer - Option A
8. Answer - Option A
9. Answer - Option A
10. Answer - Option C
1. When we say that brands are staying contemporary than it means _____ .
    A. Bringing about innovations B. Living up to consumers' expectations C. Signing a brand contract D. All of the above E. None of the above

2. _____ generates revenues, profits and net earning, whether establish through organic growth or acquisition.
    A. Brand management B. Brand C. Category D. Brand equity E. None of these

3. _____ is a part of brand management process.
    A. Manage product B. Manage categories C. Manage brand D. Manage customer E. None of these

4. _____ is NOT a primary component of positioning.
    A. Company business B. Target market C. Point of difference and key benefits D. Customer's analysis E. None of these

5. _____ can be defined in terms of needs, segmentation and geography.
    A. Markets B. Production C. Promotion D. Management E. None of these

6. A brand contract may contain _____ but it must be eradicated from the contract.
    A. Negative promises B. Positive promises C. Doubtful promises D. Implicit promises E. None of these

7. Attempt to create the right picture is to create meaningful parallels between brand's identity and its _____.
    A. Image B. Attribute C. Features D. Value E. None of these

8. _____ is NOT the basic determinant of consumer's buying action.
    A. Inferiority B. Affordability C. Quality D. Accessibility E. None of these

9. _____ is driving force for customers' focal point.
    A. Brand picture B. Brand image C. Brand value D. Brand persona E. None of these

10. _____ is getting into different versions of the same base product on the same market.
    A. Line extension. B. Product extension C. Brand diversification D. Market extension E. None of these

Answers
1. Answer - Option D
2. Answer - Option A
3. Answer - Option C
4. Answer - Option A
5. Answer - Option A
6. Answer - Option C
7. Answer - Option B
8. Answer - Option A
9. Answer - Option C
10. Answer - Option A
1. Strong brand positioning is driven by _____ .
    A. Customer B. Employee C. Company D. Market E. None of these

2. Marketers need to position their brands clearly in target customers' minds. The strongest brands go beyond attributes or benefit positioning. They are positioned on the basis of _____.
    A. Desirable benefit B. Good packaging C. Strong beliefs and values D. Service inseparability E. None of these

3. In a buyers' markets companies face four challenges but NOT _________ .
    A. Customers choice of supplier B. Increased competition C. Giving customers more 'value' for their money D. Market segmentation E. None of these

4. Target marketing featuring customized marketing programmes is _________.
    A. Individual marketing B. Segment marketing C. Family marketing D. Local marketing E. None of these

5. _________ segmentation divides the market into different units like nations, states, regions, cities or neighborhoods.
    A. Geographic B. Demographic C. Psycho-graphic D. Behavioural E. None of these

6. _________ segmentation is where the market is divided on the basis of age, family size, life cycle, gender, income, occupation, education and religion .
    A. Geographic B. Demographic C. Psycho-graphic D. Behavioural E. None of these

7. To be useful market segments must assess on _____ criteria.
    A. five B. two C. three D. four E. Six

8. _______ is the act of designing the company’s offering and image to occupy a distinctive place in the target market.
    A. Positioning B. Innovation C. Targeting D. New product development E. Segmentation

9. Leading, controlling and allocating resources describes.
    A. Research B. Banking C. Graphics D. Management E. None of these

10. Management research is to find out facts about business and management. This is concerned with _____.
    A. Marketing planning B. Human resources C. Production planning D. All of the above E. None of these

Answers
1. Answer - Option C
2. Answer - Option C
3. Answer - Option A
4. Answer - Option C
5. Answer - Option A
6. Answer - Option B
7. Answer - Option D
8. Answer - Option A
9. Answer - Option D
10. Answer - Option D
1. A research study was done to see whether people notice web addresses on TV advertisements. This is _____ .
    A. Pure research B. Applied research C. Neither of the above D. Both of the above. E. None of these

2. A research study was done to see how many people bought a product using the free number and how many used a paid number. This is ____.
    A. Pure research B. Applied research C. Neither (a) nor (b) D. None of the above E. None of these

3. Respondent selection is ____.
    A. Grossing B. Coding C. Sifting D. Sampling E. None of these

4. When a study has been conducted and is available for others to see, it becomes _________.
    A. Primary data B. Ordinal data C. Secondary data D. None of the above E. None of these

5. To investigate new markets _________ management function is important.
    A. Finance functions B. Marketing C. Production D. HRM E. None of these

6. Research goes through distinct phases. Which one is in the WRONG position?
    A. Report B. Critically review literature C. Formulate your research question D. Determine information gathering techniques E. None of these

7. Organizations facilitating product distribution to customers are _____ .
    A. Transporters B. Retailers C. Channel intermediaries D. Channel agents E. Wholesalers

8. Service channels are shorter than consumer markets due to ________ .
    A. Intangibility B. Permissibility C. Separability D. Variability E. All of the above

9. ________ is a “category killer”.
    A. Products which stock must have products that need to be stocked by retailers due to consumer demand like Coca Cola & Kellogg's. B. These are specialty stores with a deep product line to be sold in restricted shop space C. These are retail outlets with a narrow product focus but sell products at low prices by bulk buying, low margins and selling high volumes D. These are retail outlets with a wide product focus but with a wide width and depth to products E. These are retail outlets with a narrow product focus but with wide width and depth

10. Consumer information sources are.
    A. personal and commercial sources B. public source C. experiential source D. All of the above E. only (a) and (b)

Answers
1. Answer - Option B
2. Answer - Option B
3. Answer - Option D
4. Answer - Option C
5. Answer - Option B
6. Answer - Option A
7. Answer - Option A
8. Answer - Option E
9. Answer - Option C
10. Answer - Option E
1. Product life cycle theory maximizes profit at.
    A. Developed Stage B. Early Stage C. Matured Stage D. Declined Stage E. Cannot be predicted

2. Nominal scale used for marketing research, refers to
    A. population characteristics based on age of sex or ownership of a specific consumer durable B. ordering of scale C. both (a) and (b) D. neither (a) nor (b) E. None of these

3. Reference group influences consumption decision and is a function of
    A. product category B. group characteristics C. group communication process D. All of the above E. None of these

4. Consumer Day is celebrated on ____.
    A. [latex]{15}^{th}[/latex] March B. [latex]{16}^{th}[/latex] March C. [latex]{20}^{th}[/latex] April D. [latex]{20}^{th}[/latex] March E. None of these

5. Consumer commitment to a product is.
    A. Brand equity B. Brand name C. Brand loyalty D. Brand utility E. All of the above

6. Cross-selling is_____ .
    A. identifying customer needs B. matching product to customer needs C. Convincing the customers about product benefits D. responding to questions and objections of customers E. All of these

7. Innovation means
    A. compensation B. inspiration C. additional perquisites D. implementing new ideas E. None of these

8. Market information means knowledge of ____ ?
    A. shops and bazaars B. shopping malls C. customer profile and product mix D. different languages E. None of these

9. Market Research is needed for
    A. deciding market area B. deciding the right product C. making proper marketing decisions D. deciding sales timings E. All of these

10. Marketing Plan helps in ____ .
    A. high lead generation B. better results C. improved Balance Sheet D. better customer service E. None of these

Answers
1. Answer - Option A
2. Answer - Option E
3. Answer - Option E
4. Answer - Option A
5. Answer - Option C
6. Answer - Option A
7. Answer - Option D
8. Answer - Option C
9. Answer - Option E
10. Answer - Option C
1. A target market is ____ .
    A. entire country B. entire city C. entire globe D. customers who need a specific product E. None of these

2. A Marketing Plan is necessary for
    A. a focused approach B. deciding marketing strategies C. deciding product strategy D. deciding advertising strategy E. None of these

3. Rural Marketing involves
    A. selling to farmers and agriculturists B. selling to rural households C. selling to rural industries D. arranging meals E. All of these

4. Market Research is essential for ____ ?
    A. extra service charges B. levy of VAT C. good customer service D. effective selling E. there is no need for Market Research

5. Market Segmentation means
    A. dividing the market into groups B. segmenting by age C. segmenting by tastes D. geographic segmenting E. None of the above

6. Marketing Plans are used for
    A. doing Research by Marketing students B. planning Departments C. purchase of consumable items from retail outlets D. All of the above E. None of these

7. Customization means
    A. designing products to suit company needs B. designing strategies C. designing products to suit individual customers D. All of the above E. None of these

8. Product mix means
    A. distributing mix products B. collecting ideas to sell better C. satisfying the customer D. bundle of products required by the customer E. products designed by the Company

9. In Marketing, Market penetration means
    A. entering customers houses B. covering stores and shops C. covering a wide market D. All of the above E. None of these

10. Innovation helps in
    A. designing new products B. improving marketing C. increasing sales D. maximizing prospective customers E. All of the above

Answers
1. Answer - Option D
2. Answer - Option E
3. Answer - Option E
4. Answer - Option C
5. Answer - Option E
6. Answer - Option E
7. Answer - Option D
8. Answer - Option E
9. Answer - Option C
10. Answer - Option A
1. Marketing strategy means new___.
    A. ideas to get more customers B. methods to retain existing customers C. ways to create new customers D. marketing techniques E. All of the above

2. Successful Marketing strategies need
    A. knowledge of consumer tastes B. good leadership C. proper direction and guidance D. knowledge bank of peers E. All of the above

3. Diversification means
    A. marketing in different countries B. marketing in diverse companies C. making new, diversed products D. dealing only with foreign markets E. All of the above

4. Market Research is useful for deciding the _____ .
    A. proper marketing strategies B. selling price C. right products D. appropriate sales persons E. All of these

5. Customization means _____.
    A. acquiring more customers B. regulating customers C. special products to suit specific customer D. more products per customer E. All of these

6. Market innovations means ____.
    A. designing new products B. new styles of marketing C. new ideas in sales D. Only (a) and (b) E. All (a), (b) and (c)

7. A 'Buyer's Market' means
    A. buyers are also sellers B. sellers are also buyers C. there are no sellers D. demand exceeds supply E. supply exceeds demand

8. Benchmark means _____.
    A. products displayed on a bench B. salesmen sitting on a bench C. established standards D. marks on a bench E. None of these

9. 'Customization' means
    A. customers' personal accounts B. customers selling goods C. special products for each customer D. better relations E. All of these

10. Value- added services means
    A. giving full value for money B. better value for better price C. costlier service D. additional service E. All of these

Answers
1. Answer - Option E
2. Answer - Option E
3. Answer - Option C
4. Answer - Option A
5. Answer - Option C
6. Answer - Option E
7. Answer - Option E
8. Answer - Option C
9. Answer - Option C
10. Answer - Option D
1. Marketing Strategies means _____.
    A. plan for effective marketing B. type of marketing style C. market demands D. All of these E. None of these

2. Market Plan is ____.
    A. an action plan for daily marketing B. effective selling steps C. effective buying steps D. documents for marketing strategies E. All of these

3. Target group means ____.
    A. all employees B. short- listed group C. all marketing staff D. sales representatives E. All of these

4. Customization means
    A. products created for specific customers B. good customer service C. bad customer service D. after sales service E. None of these

5. Market Expansion means _____.
    A. employing additional staff B. firing more staff C. buying more products D. buying additional companies E. growing sales in existing and new products

6. Market monitoring is _____.
    A. watching TV serials B. discuss with other sales persons C. to monitor media outlets D. All of these E. None of these

7. Rural Marketing is more effective if arranged through.
    A. melas B. village fairs C. door to door campaign D. All of these E. None of these

8. Innovation means _____.
    A. product designing B. new ideas C. motivation D. Only (b) and (c) E. Only (b) and (c)

9. Rural Marketing is not essential as _____.
    A. rural population does not understand marketing B. it is not cost effective C. it is a waste of time D. None of the above E. all of the above

10. Service Marketing is also _____.
    A. Internet Marketing B. Telemarketing C. Internal Marketing D. Relationship Marketing E. Marketing done by service class employees

Answers
1. Answer - Option D
2. Answer - Option D
3. Answer - Option E
4. Answer - Option A
5. Answer - Option E
6. Answer - Option B
7. Answer - Option D
8. Answer - Option D
9. Answer - Option D
10. Answer - Option D
1. Market segmentation means ____ .
    A. Territory allocation B. Market Space C. Market place D. Creating target group according to their needs E. Sales persons' groupings

2. Marketing Opportunities means _____ .
    A. Availability of sales persons B. Availability of data C. Melas D. Scope for marketing E. Evaluation of performance

3. Market Research is useful for ____.
    A. Finalizing marketing strategies B. Selecting sales persons C. Choosing old products D. Recruitment of staff E. Payment of bonus

4. Innovation in marketing is also _____.
    A. Motivation B. Inspiration C. Aspiration D. Creativity E. Team work

5. Buyer Resistance' means _____.
    A. Buyer's interest in the product B. Buyer being aggressive with the seller C. Buyer's hesitation in buying the product D. Buyer becoming a seller E. Buyer purchasing the product

6. Situation Analysis is useful for _____.
    A. SWOT Analysis B. Analysis of Sales staff performances C. Analysis of capital markets D. Staff placement E. Area allocation

7. ‘USP’ of a product indicates ____.
    A. High selling features of a product B. Drawbacks of a product C. Additional features of a product D. Efficient support E. Large organisation

8. Direct Marketing is useful for _____ .
    A. Designing Products B. Sending e-mails C. Increased production D. Bigger job opportunities E. None of these

9. Innovation means _____.
    A. inspiration B. enthusiasm C. compensation D. creativity E. All of these

10. Market Segmentation means _____.
    A. Territory allocation B. Market space C. Market place D. Dividing the target group E. Sales persons’ groups

Answers
1. Answer - Option D
2. Answer - Option D
3. Answer - Option A
4. Answer - Option D
5. Answer - Option C
6. Answer - Option B
7. Answer - Option A
8. Answer - Option D
9. Answer - Option D
10. Answer - Option D
1. Main target group for SIP schemes are all _____.
    A. HNIs B. NRIs C. Salaried individuals D. Farmers E. All students

2. Innovation in marketing is same as _____.
    A. Motivation B. Inspiration C. Aspiration D. Creativity E. Team work

3. ‘Buyer Resistance’ means _____.
    A. Buyer’s interest in the product B. Buyer fighting with the seller C. Buyer’s hesitation in buying the product D. Buyer becoming a seller E. Buyer buying the product

Answers
1. Answer - Option C
2. Answer - Option D
3. Answer - Option C
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