1. The price skimming policy is related with which type of pricing ?

A. Initial Price B. Marginal Price C. Market Price D. Cost Price E. None of these

2. Direct material and direct labor are called as ____________

A. Prime Cost B. Conversion Cost C. Variable Cost D. Product Cost E. None of these

3. ______________ is the process of marketing a product or service using the Internet.

A. E-Marketing B. E-Business C. E-Commerce D. E-Trading E. None of these

4. PV Ratio is also known as Contribution to Sales Ratio. PV stands for

A. Product Validity B. Product Value C. Profit Volume D. Value E. None of these

5. The internet version of word of mouth marketing is a types of which marketing ?

A. Guerrilla marketing B. Viral Marketing C. Drip Marketing D. Bench Marketing E. None of these

Answers and Explanations
1. Answer - Option A
Explanation -
Price skimming is a product pricing strategy by which a firm charges the highest initial price that customers will pay. As the demand of the first customers is satisfied, the firm lowers the price to attract another, more price-sensitive segment.
2. Answer - Option B
Explanation -
Direct labor and overhead are often called conversion cost. while direct material and direct labor are often referred to as prime cost
3. Answer - Option A
Explanation -
E-Marketing (Electronic Marketing) are also known as Internet Marketing, Web Marketing, Digital Marketing, or Online Marketing. E-marketing is the process of marketing a product or service using the Internet. It not only includes marketing on the Internet, but also includes marketing done via e-mail and wireless media.
4. Answer - Option C
Explanation -
The Profit Volume Ratio (PV Ratio) is the relationship between Contribution and Sales Value. It is also termed as Contribution to. Sales Ratio.
5. Answer - Option B
Explanation -
The internet version of word of mouth marketing is termed as Viral marketing.

1. The sole purpose of marketing is to ______________

A. Sell more products B. Create new products C. Increase the profits D. Increase the growth E. All of these

2. A product lifecycle is very much similar to human life cycle said by whom ?

A. .Philip Kotler B. Arch Paton C. Simon Clift D. Malcolm McLaren E. None of these

3. Which of the following is the market where investments are made ?

A. .Scarcity Marketing B. Investment Market C. Button market D. Drip Market E. None of these

4. CTA stands for ________________

A. Consumer To Assest B. Customer To Action C. Call To Action D. Collection To Arrival E. None of these

5. The first step of new-product development is _________________

A. Idea Screening B. Product Development C. Concept Development D. Idea generation E. None of these

Answers and Explanations
1. Answer - Option A
Explanation -
The sole purpose of marketing is to sell more to more people, more often and at higher prices.
2. Answer - Option B
Explanation -
Arch Paton said ‘a product lifecycle is very much similar to human life cycle’
3. Answer - Option C
Explanation -
‘Button market’ is where investments are made. If refers to online buying and selling of investments.
4. Answer - Option C
Explanation -
In marketing, a call to action (CTA) is an instruction to the audience to provoke an immediate response.
5. Answer - Option D
Explanation -
The new product development (NPD) consists of 7 stages:
Idea generation, Idea Screening, Concept Development and Testing, Marketing Strategy Development, Product Development, Test Marketing and Commercialization

1. Which is a detailed version of the idea stated in meaningful consumer terms ?

A. .Product Concept B. Product Image C. Product Idea D. Product Flow E. None of these

2. According to Kotler, Marketing research consists of ___________

A. Systematic design for collection B. Analysis C. Reporting of data D. Both 1 and 3 E. All of these

3. According to whom , A product exists in different stages and in different competitive environment ?

A. Willian J. Stanton B. Arch Paton C. Neil Borden D. Philip Kotler E. None of these

4. In which of the following situation Marketing is required ?

A. Supply Exceeds Demand B. Supply Equals To Demand C. Demand Exceeds Supply D. All of these E. None of these

5. In which stage of NPD(New Product Development), new product is introduced to the market ?

A. .Product Development B. Commercialization C. Test Marketing D. Concept Development and Testing E. None of these

Answers and Explanations
1. Answer - Option A
Explanation -
A product concept is a detailed version of the idea stated in meaningful consumer terms. This is different again from a product image, which is the consumers’ perception of an actual or potential product.
2. Answer - Option E
Explanation -
Philip Kotler, Marketing research consists of systematic design for collection, analysis, and reporting of data and findings relevant to specific marketing situation facing company.
3. Answer - Option A
Explanation -
Willian J. Stanton says From its birth to death, a product exists in different stages and in different competitive environment. Its adjustment to these environments determines to a great degree just successful its life will be.”
4. Answer - Option A
Explanation -
Marketing is definitely required when supply exceeds demand.
5. Answer - Option B
Explanation -
Commercialization – The final step in new product development is Commercialization. Introducing the product to the market-it will face high costs for manufacturing and advertising and promotion.