QUIZ - Units 1 & 2

Question 1
5 / 5 pts
Which among the following will come under marketing for a Coffee brand?
Correct!

Packaging change of the brand

Correct!

Changing the taste of the product

Change of Brand Manager

Change of Advertising Agency

Question 2
2 / 2 pts
Marketing should always result in immediate results for the business !

True

Correct!

False

Question 3
3 / 3 pts
Fill in the blanks in the following statement with the most appropriate option :

Marketing drives or finally leads to ______________ consumer/ customer action.....

immediate
Correct!

profitable

long-term

proactive

Question 4
5 / 5 pts
Match the following initiatives to the correct definition among the 4 Ps of marketing.,
for a sports apparel brand !
Correct!
Launching a new shoe with new features

PRODUCT centric marketing

Correct!
Getting a new brand ambassador for endorsing the brand

PROMOTION centric marketing

Correct!
Launching a new store at the new mall in the city

PLACE centric marketing

Correct!
Launching a 10% Discount for September

PRICE centric marketing

Other Incorrect Match Options:

• Getting more customers

• Understanding consumer needs correctly
• Increasing access for the consumers
• Increasing Value for Money
Question 5
2 / 2 pts
A marketing campaign always starts with _______________

Awareness

Advertising

Product

Correct!

Objective

Question 6
3 / 3 pts
The framework to monitor/ measure the JOURNEY OF A CONSUMER (Awareness -->
Purchase --> Loyalty) is called _______________

4 Ps of Marketing

Advocacy Framework

Brand Management

Correct!

The Marketing Funnel

Question 7
2 / 2 pts
A non-material action from seller/ advertiser resulting in change of buyer's behavior is
also known as ___________________
Benefits

Correct!

a Service

Loyalty Program

Advertising

Question 8
2 / 2 pts
The amount of resources used by a firm to produce a product or service is called

Value

Correct!

Cost

Price

Valuation

Question 9
4 / 4 pts
Which of the following statements should be true for business to be viable ??

Price < Cost

Correct!
Consumer Perceived Value > Price

Consumer Perceived Value < Cost < Price

Cost > Consumer Perceived Value

Correct!

Price > Cost

Question 10
2 / 2 pts
Explaining multiple uses of the same product to a consumer helps in increasing
______________

Distribution

Access

Correct!

Consumer Perceived Value

Cost

Question 11
3 / 3 pts
The first few consumers/ customers who buy a new product are called _______________

pioneers
thought leaders

Correct!

innovators

adopters

Question 12
3 / 3 pts
The correct order for a new product in the market, in terms of LIFE CYCLE should be :

Introduction, Growth, Laggards, Decline/ Rejuvenation

Growth, Laggards, Majority, Innovators

Correct!

Introduction, Growth, Maturity, Decline/ Rejuvenation

Introduction, Majority, Adopters, Decline/ Rejuvenation

Question 13
2 / 2 pts
Under the S.A.V.E. framework, the E refers to _____________

Experience

Environment

Correct!
Education

Excess

Question 14
2 / 2 pts
Demand is a measure of _________________

Money

Supply

Correct!

Quantity

Price (Equilibrium)

Question 15
2 / 2 pts
The price at which supplier wants to supply EXACTLY SAME quantity as the quantity
demanded is called ________________

Surplus

Shortage

Price

Correct!
Equilibrium Price

Question 16
5 / 5 pts
In an EXCESS SUPPLY or SURPLUS situation, which of the following are true ?

Advertising is not needed

Correct!

More Quantity Supplied than Demanded at the current price

Correct!

Price > Equilibrium Price

Producer (or seller) should be raising prices

Question 17
5 / 5 pts
A flat (nearly horizontal) demand curve is characteristic of which kind of market
condition ?

Inelastic Demand

Correct!

Elastic Demand

Elastic Supply

Inelastic Supply
Question 18
5 / 5 pts
In a MONOPOLY or MONOPOLISTIC competition, which of the following are true
statements ?

Demand MUST BE highly elastic

Correct!

Sellers have more control on pricing than perfect competition

Correct!

Few sellers/ producers

Must be a Govt. entity like Railways

Question 19
5 / 5 pts
The concept of Customer Acquisition Cost concerns the following statements
(multiple choices possible) :
Correct!

new customers only

cost of production

cost of serving repeat customers

Correct!

marketing cost
Question 20
3 / 3 pts
The revenue you get from any given customer over some time horizon is called
____________________
Correct!

Life Time Value

Consumer Perceived Value

Equilibrium Price

Customer Acquisition Value

Question 21
2 / 2 pts
The ideal LTV/ CAC ratio should be.......

must be > 1

between 1 and 10

Correct!

between 2 and 4

between 5 and 10

Question 22
5 / 5 pts
Which of the following comes under CUSTOMER COSTS ?
Pollution caused by bus while going to buy the product

Correct!

Credit card fees while buying a product

Correct!

Membership fees required to use a product after buying it

Correct!

Buying refills and subscriptions to use the product

Question 23
3 / 3 pts
When a seller gives a MONEY BACK GUARANTEE or EXCHANGE POLICY, she is
trying to take care of which kind of costs?

Societal costs caused by pollution due to production by factories

Cost of tansaction

Insufficient account balance

Correct!

Psychic costs attached with wrong purchase

Question 24
3 / 3 pts
The costs imposed on the consumers as a result of business, for which they are not
compensated or charged are known as _____________
Bsuiness Consequence Cssts

Psychic Costs

Production Costs

Correct!

Societal Costs

Question 25
5 / 5 pts
The following are true for a Value Proposition...
Correct Answer

Should be accurate and truthful because it is a promise made to customers/ consumers

Correct!

Explains 'why' should someone buy your product

Does not talk about price or cost

Should be a great TAGLINE like 'JUST DO IT'

You Answered

Explains benefits of competition

Question 26
5 / 5 pts
A great Value Proposition has the following characteristics
Correct!
Should be clear and concise

Must be written in excellent English

Should be a great tagline

Correct!

Should explain why the brand is better than competition

Correct!

Should be easy to search online

Question 27
2 / 2 pts
Demand and Price are __________________ related for a normal product.

never

postitively

Correct!

inversely

elastically
Question 28
5 / 5 pts
Match each of the correct statements below (best possible combination)....
Correct!
In a perfect competition

there are many producers w ith similar product selling in the market
Correct!
A poorly written Value Proposition hurts the business because

it may lead to high advertising spend w ithout much benefit to business

Correct!
While buying a phone accessory there may be psychic costs attached because

there is fear of the accessory not w orking

Correct!
If customers are not repeat purchasing a product it may be because

the experience of first purchase does not meet customer expectations

Other Incorrect Match Options:

• there are many buyers in the markets who are willing to pay more
• there is societal costs attached to pollution caused by telecom industry
• there is only a few brands to choose from

Question 29
2 / 2 pts
The product life cycle for all the different products from the same company must be at
the same stage.

True

Correct!

False

Question 30
3 / 3 pts
["", "", "", ""] is the financial return realized
by ["", "", "", ""] after selling the product.
Answer 1:
Correct!
Price
Answer 2:ect!
Seller