1. The MRTP commission was replaced by which commission ?

A. Competition Commission of India B. Finance Commission C. Nanavati-Shah commission D. National Statistical Commission E. None of these

2. MRTP Act was enacted in which year ?

A. 1997 B. 1969 C. 1996 D. 1970 E. None of these

3. The minimum number of people involved in the exchange marketing is ________

A. One B. Two C. Four D. Six E. None of these

4. Which of the following center is also known as ‘decision-making units’ (DMUs) ?

A. Marketing Center B. Shopping Center C. Sales Center D. Buying Center E. None of these

5. In which type of exchange, only two parties are involved ?

A. Restricted Exchanges B. Generalized Exchanges C. Complex Exchanges D. All of these E. None of these

Answers and Explanations
1. Answer - Option A
Explanation -
The Monopolies and Restrictive Trade Practices Act, 1969 [MRTP Act] repealed and is replaced by the Competition Act, 2002, with effect from 01st September, 2009
2. Answer - Option B
Explanation -
On the basis of recommendation of Dutt Committee, MRTP Act was enacted in 1969 to ensure that concentration of economic power in hands of few rich. The act was there to prohibit monopolistic and restrictive trade practices.
3. Answer - Option B
Explanation -
A marketing exchange is what happens any time two or more people trade goods or services. In marketing theory, every exchange is supposed to produce “utility,”
4. Answer - Option D
Explanation -
A buying center brings together “all those members of an organization who become involved in the buying process for a particular product or service”.Buying centers are also known as ‘decision-making units’ (DMUs)
5. Answer - Option A
Explanation -
Simple or “restricted” exchanges are those in which there are only two parties to the exchange. Restricted exchanges are one-on-one relationships, so both parties must receive approximately equal utility if the exchange is to be repeated.

1. Market orientation business focused on which of the following ?

A. Distributors B. Retailers C. Salesman D. Customers E. None of these

2. _________ is the Trade value between two parties

A. Exchange B. Business C. Marketing D. Transaction E. None of these

3. Who will control(s) the flow of information in to and out of the company ?

A. Gatekeepers B. Managers C. Executives D. Sales Head E. None of these

4. _______ contributes to the formulation and determination of the specifications of the product or service.

A. Buyers B. Users C. Influences D. Sellers E. None of these

5. Who will make a request to purchase a product or service in buying center?

A. Buyers B. Initiators C. Deciders D. Sellers E. None of these

Answers and Explanations
1. Answer - Option D
Explanation -
Market orientation is a company philosophy focused on discovering and meeting the needs and desires of its customers through its product mix.
2. Answer - Option D
Explanation -
Trade value between two parties denotes transaction of money between two parties in direct and indirect way.
3. Answer - Option A
Explanation -
The gatekeeper(s) control(s) the flow of information in to and out of the company and buying center/team.
4. Answer - Option C
Explanation -
The influences contributes to the formulation and determination of the specifications of the product or service. The influences evaluates and recommends which potential supplier satisfies the specific needs of the organization.
5. Answer - Option B
Explanation -
The initiator(s) make a request to purchase a product or service or recognizes the problem, with this action they start the decision-making process. e.g. maintenance manager

1. What is prospect ?

A. Potential dealer B. A likely Seller C. Potential customer D. Consumer head E. None of these

2. ___________ is a risk management technique that mixes a wide variety of investments within a portfolio

A. Dissolution B. Diversification C. Investment D. Disinvestment E. None of these

3. Which is the second process of sales process ?

A. Lead generation B. Sale C. Call D. Presentation E. None of these

4. The characteristics of a target market is/are ________

A. Geographic B. Demographic C. Psychographic D. Product Related E. All Of These

5. An individuals with taxable income is a target group of which of the following ?

A. Business loan B. .Home loan C. Car loan D. Credit Card E. None of these

Answers and Explanations
1. Answer - Option C
Explanation -
A prospect is a potential customer or sales lead which has been qualified as fitting certain criteria. This may include: fitting the target market, having buying authority and being a key decision maker.
2. Answer - Option B
Explanation -
Diversification is a risk management technique that mixes a wide variety of investments within a portfolio. – Companies sometimes diversify their business activities to manage risk or expand into new markets.
3. Answer - Option C
Explanation -
The sequence of a sales process is Lead generation, Call, Presentation and Sale
4. Answer - Option E
Explanation -
The Different Characteristics of a target market are geographic, demographic, psychographic, behavioral, and product related
5. Answer - Option D
Explanation -
Credit Card – An individuals with taxable income
Car Loan – any individual needing a car
Education Loans – all colleges, parents, Research Scholars, meritorious students seeking higher education
Agricultural loan – Any individual dealing in agriculture or related activities