Marketing Management MCQs

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

Q. Which is NOT the stage that customers go through in the process of adopting a new product? Awareness Interest Evaluation Culture Answer: Culture

Q. What does this statement show “Trade of value between two parties”? Competition Transaction Exchange Need Answer: Transaction

Q. Buying goods and services for further processing or for use in the production process refers to _________ Consumer markets Government markets Business markets International markets Answer: Business markets

Q. After concept testing, a firm would engage in __________ for developing and marketing a new product? Marketing Strategy Development Stage Business Analysis Stage Product Development Stage Test Marketing Stage Answer: Marketing Strategy Development Stage