September 2022

Q. Marketing decision makers in a firm must constantly monitor competitors’ activities-their products, prices, distribution, and promotional efforts-because The competitors may be violating the law and can be reported to the authorities The actions of competitors may threaten the monopoly position of the firm in its industry The actions of competitors may create an oligopoly […]

Q. Political campaigns are generally examples of— Cause marketing Organization marketing Event marketing Person marketing Answer: Person marketing

Q. Which of the following is NOT an element of the marketing mix? Distribution Product Target market Pricing Answer: Target market

Q. Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to which of the following options? Customer perceived value Marketing myopia Customer relationship management Customer satisfaction Answer: Customer perceived value

Q. A firm has decided to localize its products and services to meet local market demands. Which one of the following approaches is a good approach for this segmentation? Geographic Demographic Psychographics Behavioural Answer: Geographic

Q. Which one of the following statements by a company chairman BEST reflects the marketing concept? We have organized our business to satisfy the customer needs We believe that the marketing department must organize to sell what we produce We try to produce only high quality, technically efficient products We try to encourage company growth

Q. The buying process starts from which one of the following stages in which the buyer recognizes a problem or need Need recognition Information search Evaluation of alternative Purchase decision Answer: Need recognition

Q. Which one of the following concepts is a useful philosophy in a situation when the product’s cost is too high and marketers look for ways to bring it down? Selling concept Product concept Production concept Marketing concept Answer: Production concept

Q. The mental act, condition or habit of placing trust or confidence in another, shows which of the following options? Motive Belief Behaviour Attitude Answer: Belief