Marketing Management Questions Latest Marketing Management MCQ Objective Questions Fr ER ane Rai) Re Re ect eee cuba ict) reo ey ae OS rel nd Cretan Str B Download App MCQ Question 1: Which of the following market Is formed on geographical basis? 1. Wholesale Market 2. Share Market 3. Foreign Exchange Market 4. Futures Markets Claas) India's Super Teachers for all govt. exams: Answer (De Option 3 : Foreign Exchange MarketMarketing Management MCQ Question 1 Detalled Solution The correct answer is Foreign Exchange Market Market segmentation: + Market segmentation is the practise of breaking a market into different consumer groups, each with a shared attribute, such as needs or behaviour. it's a ‘divide and conquer’ tactic. + Market segmentation is to identify specific groups of customers so that products and branding may be customized to suit them + Markets can be segmented in number of | ways, such as geographically, demographically, or behaviourally. + Market segmentation assists businesses in reducing risk by determining which items wo likely to get a share of a target market, as well as the most effective marketing and deli methods for those products. + A corporation may therefore focus its resources on the initiatives that are m ek lucrative, with risk minimized and clarity regarding the marketing and del increased, Foreign Exchange Market:- The foreign exchange market (for Oo isa financial institution that allows one country's currency to be KX for . Itis the most liquid among all the markets in the financial world > Important Points Geographic segmentation: Sarena The plac + Geographic segmentation is a type of market segmentation that groups prospective customers based on where they live. People living in the same environment tend to have similar wants and needs, and geographic segmentation allows marketers to target audiences ina country, city, or region with messaging that appeals to their specific wants and needs. In total, there are six factors that pertain to geographic segmentation and can be used to create customer segments: . Location (country, state, city, ZIP code) Timezone Climate and season Cultural preferences Language Population type and density (urban, suburban, exurban, or rural). Foreign Exchange Market deals in currency of all the countries and facilitate exchange to take e. Hence, Foreign Exchange market is formed on geographical basis.Fg eee ec ASE Ta ery ee Lola) Oras fed f mc or) CCS ciee Question Bank Download App MCQ Question 2: View this Question Online > Retailer is a sub-element of 1. Place 2. product 3. price ~' promotion Answer (Detailed Solution Below) Option 1: Place Marketing Management MCQ Question 2 Detalled Solution The correct answer is- Place. © Key Points Retail marketing: + Retail marketing includes a set of activities where a retailer buys products from a wholesaler or manufacturer to sell them to end-users (consumers). + In simple words, a retailer is an intermediary which makes products available to consumers using different channels, for example, brick-and-mortar retail stores, shopping malls, shopping websites, automatic vending machines, kiosks, etc. * Retail marketing involves every element from the interior to exterior promotions and offers, product placements in-store advertisement, strategic placement as well as the behaviour of store representatives.Important Points Place: + When a company makes decisions regarding place, they are trying to determine where they should sell a product and how to deliver the product to the market. + The goal of business executives is always to get their products in front of the consumers that are the most likely to buy them. + Retailer serves as one of the intermediaries in the channel of distribution and hence, is a part of Place mix. Hence, the correct answer is- Retailer is a sub-element of Place, &; Additional Information Product: + A product is any good or service that fulfils consumer needs or desires. It can also be defined as a bundle of utilities that comes with physical aspects such as design, volume, brand name, etc. + The type of product impacts its perceived value, which allows companies to price it profitably. It also affects other aspects such as product placement and advertisements. Price: * The price of a product directly influences sales volume and, consequently, business profits. + Demand, cost, pricing trends among competitors, and government regulations are crucial factors that determine the price. Price usually reflects the product's perceived value rather than its real value. + This means that pricing can be increased to promote exclusivity or reduced to create access. Promotion: + Promotion involves decisions related to advertising, Salesforce, direct marketing, public relations, advertising budgets, etc. + The primary aim of promotion is to spread awareness about the product and services offered by a company. + It helps in persuading consumers to choose a particular product over others in the market. Cd Tea Ee lay Elam eel Ceci seer Ree conc ca ca Oro arated ester Question Bank Download App MCQ Question 3: View this Question Online > Which of the following is/are intangible feature(s) of a product?1. After sale services 2. Performance of product ow 3. Goodwill of product Nie 4. Allof these Kor 9’ Below) 4: All of these Marketing Management MCQ Question 3 Detailed Solution The correct answer is- All of these » Important Points Features of a product: Tangible attribute: + The first and foremost important feature of a product is its tangibility. It means that it may be touched, seen and its physical presence felt like, cycle, book, pencil, table, etc. Intangible attribute: + Alternatively, the product may be intangible in the form of service, such as banking, insurance, or repairing services. © Additional Information << Other features of a product: oO 1. Exchange value: + The third characteristics of a procuct are that it must have exchange valu product, whether tangible or intangible, should have an exchange shi being exchanged between the buyer and seller fora sed consideration. 2. Utility benefits: ® + Another significant characteristic of a vc havea utility like a bundle of potential utility or benefits. 3. Differential features: + Another important feature from the marketing point of view is that the product should have differential features, i.e,, it can be differentiated from other products.4. Consumer satisfaction: + Another feature from the marketing viewpoint is that the products should have the ability to deliver value satisfaction to consumers for whom they are intended. 5. Business needs satisfaction: + The last also equally essential characteristic of a productis that in order to be a product, it should also have the attribute to satisfy a business need. Hence, the correct answer is- After-sales services, the performance of a product, goodwill of the product are intangible features of a product. Teen eu barrel) Start Complete Exam Preparation Da ue Practice Pa a Pcie Question Bank pao Download App MCQ Question 4: rf View this Question Online > Convenience goods are those which are 1. consumedeasily 2. distil asily 3. purchased frequently 4. Allof the above Answer (Detailed Solution Below) ss Option 3: purchased frequently Marketing Management MCQ Question 4 Detailed Solution‘The correct answer is purchased frequently. © Key Points + Convenience goods: Convenience goods are the goods that are purchased by the consumer very frequently and with minimum effort. While purchasing these goods, the consumer does not ‘spend much time in taking the buying decision. + Examples of Convenience goods- newspaper, Soap, grocery items, etc. Pea iar Start Complete Exam Preparation Pears fered DS ier Coes Peete) Download App MCQ Question 5: View this Question Online > Find the true statement. 1. Marketing Is a waste of the employee's time 2. Marketing is not required in India due to its vast (population) 3. Marketing involves additional work 4, Marketing involves team work Z Answer (Detailed Solution Below) Option 4 : Matketing involves team work A... Management MCQ Question 5 Detailed Solution The correct answer is- Option 4. © Key PointsMarketing + Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affillates on behalf of a company. + Marketing refers to all activities a company does to promote and sell products or services to consumers. + Marketing makes use of the "marketing mix; also known as the four Ps—product, pri and promotion. + At its core, marketing seeks to take a product or service, identify its ideal customers, and draw the customers’ attention to the product or service available. * Important Points + The purpose of marketing is to research and analyse your consumers all the time, conduct focus groups, send out surveys, study online shopping habits, and ask one underlying question: “Where, when, and how does our consumer want to communicate with our business?" + Marketing is the process of getting people interested in your company’s product or service. > This happens through market research, analysis, and understanding your Ideal customer's interests. » Marketing pertains to all aspects of a business, including product development, re) place, distribution methods, sales, and advertising. Types of marketing: NG - + Internet marketing: QO onil » Inspired by an Excedrin product campaign that took pl idea of having a presence on the intemet for business reasons isa in and of itseff. + Search engine optimization > Abbreviated "SEO! this is the process of optimizit content on a website so that it appears in search engine results. I's us to attract people who perform searches that imply they're int + Blog marketing: Blogs are no longer exclusiv about their industry and nurtu/ internet for information. * Social media marketing: Businesses can use Facebook, Instagram, Twitter, Linkedin, and similar social networks to create impressions on their aucience over time. + Print marketing ‘As newspapers and magazines get better at understanding who subscribes to their print material, businesses continue to sponsor articles, photography, and similar content in the publications their customers are reading + Search engine marketing: > This type of marketing is a bit different than SEO, which is described above, Businesses can now pay a search engine to place links on pages of its index that get high exposure to ‘their audience, (it's a concept called "pay-per-click" ) + Video marketing: While there were once just commercials, marketers now put money into creating and publishing all kinds of videos that entertain and educate their core customers. sed in bout a particular industry. \iividual writer. Brands now publish blogs to write he Interest of potential customers who browse the Hence, the correct answer is - Marketing involves teamwork. ‘Top Marketing Management MCQ Objective QuestionsIndia's #1 Learning Platform Start Complete Exam Preparation ene oa be Dene Pree Download App Paonia MCQ Question 6 View this Question Online > Tele - Marketing is a part of 1. viral marketing ef * 2. social marketing 2 3. Direct marketing 4, Relationship marketing Aas (Detailed Solution Below) Option 3 : Direct marketing Marketing Management MCQ Question 6 Detailed Solution CB key-Points Direct marketing: * Direct marketing gives the opportunity of promoting goods and services directly to the customers who need them the most. + Direct marketing helps in building relationships with new customers. + All promotional information is relayed without intermediaries and any third parties, + Emails, newspapers, outdoor advertising, SMS marketing, Tele-marketing, websites, catalog distribution, etc. are various types of direct marketing strategies. Therefore, Tele-marketing is a part of Direct marketing. i Bn Rare cc a tei ee eres Viral marketing: + Viral marketing is an advertising strategy that uses social media to generate interest and a potential sale of a brand or product through viral messages in the formof memes, shares, likes, and forwards. + Itrefers to how consumers spread information about a product with other people, in the same way, that a virus spreads from one person to another. + In other words, marketing is considered viral when it reaches a point where it is being shared by the people at large rather than just the target audience. Social marketing: ~ + It is a systematic application of marketing activities along with other concepts and techniques to achieve specific behavioral goals for social good. + Philip Kotler states, "Social marketing seeks to influence social behaviors not to benefit the marketer, but to benefit the target audience and the general society." + This technique has been used extensively in international health and sanitation programs. + The main objective of social marketing is to promote the well being of society. Relationship marketing: + It is defined as, "Relationship marketing |s a strategy designed to foster customer loyalty, Interaction and long-term engagement. it is designed to develop strong connections with customers by providing them with information directly suited to their needs and interests and by promoting open communication." + It refers to the activities undertaken by the organization to maintain loyalty, profitability, and long- term relationship with the customers. ra Teeter Deer res Start Complete Exam Preparation ree acy Portis) Execs MCQ Question 7 f; te View this Question Online > Which one of the following is not true for Mass Marketing? 1 2. Deals with customers directly 3. ID ines in case of FMCG and SMCG Goods4. Relies heavily on advertising Answer (Detailed Solution Below) Option 2: Deals with customers directly Marketing Management MCQ Question 7 Detailed Solution Mass Marketing does not deal with customers directly. ro |Key-Points Mass marketing is 4 market strategy in which a firm decides to ignore market segment differences and appeatitesthe whole market with one offer or one strategy, which supports the idea of broadcasting =i that will reach the largest number of people possible. 2. Mass marketing has ver direct contact with Its customers and must disiribute its product ‘through various retail outlets alongside its competitors. 3. Communication is impersonal, as evidenced by its national television and print advertising campaigns, couponing, and point-of purchase displays. 4, The success of mass marketing is contingent on the probability that within the huge audience exposed to the marketing strategy there exist sufficient potential customers interested in the Product to make the strategy worthwhile. x Tee eae Rael SS ETa mee CM ele Lila) eee : elie rClasses Download App & ul MCQ Question 8 View this Question Online > Which of these companies uses the tagline Think Different? 1. Apple my f 2. Amazon 4g) f. “0 etailed Solution Below) Option 1: Apple Marketing Management MCQ Question 8 Detailed Solution “Think different” is an advertising slogan used by Apple Computer Inc, now named Apple Inc. + The slogan was taken as @ response to IBM slogan Think. * The company was found on April 1, 1976, by Steve Jobs, Steve Wozniak, Ronald Wayne. + Steve Jobs, the co-founder of the company wished to build an advertising campaign that would remind people about the loyal fan-base of apple and it made him use the slogan "Think different’. + The headquarters of the company is in California US. 3 Think different. 1. Amazon + Amazon company was found on Sth July 1994 by J + The headquarters of the company is in Seattle, LUS. + Amazon company is an E-commerce ides web hosting, online shopping, and content distribution services. * The Tagline of the company i « Hat 2. Facebook + Facebook was found on 4th July 2004 by Mark Zuckerberg, Chris Hughes, Andrew McCollum, Eduardo Saverin, Dustin Moskovitz. + The headquarters of the company is in Menlo Park, California, U.S + Facebook provides social networking services. 3. Google * Google was found on 4th September 1998 by Larry Page & Sergey Brin. + The headquarters of the company is in Googleplex, Mountain View, California, U.S. * Google is an Internet computer software industry. + The parent company of Google is Alphabet inc. + The Tagline of the company is "Don't be evil".Tear toe ieliny AS elem ered) Cle ele) Creer 8) Pa fSbccc Download App MCQ Question 9 View this Question Online > Market orientation is a technique of selecting 1. Product integration g 2. Concentrated marketing = 3. Additional segmentation x mix Answer (Detailed Solution Below) Option 4 : Marketing mix Marketing Management MCQ Question 9 Detailed Solution Market orientation: 1. Market orientation is a business philosophy where the focus is on Identifying customer needs or wants and meeting them. 2. When a company has a merket orientation approach, it focuses on designing and selling goods and services that satisfy customer needs in order to be profitable. 3. The successful market-oriented company discovers and meets the desires and needs of its customers through its marketing mix.Important features of the Marketing Mix: 1. The marketing mix is a planned mix of activities. The ingredients in the marketing mix are product, place, price, and promotion. It is a combination of elements that you will use to market your product. Marketers use the marketing mix to create value for their products. . The four elements of the marketing mix are used and adjusted until the marketer gets the results that he wants. %, :. For example, pricing decisions are exercised in the form of cash discounts that convince customers to buy. ~ ' Additional Information pon 6. 1. Product integration is similar to product placement, except it involves the actual integration of ‘the product or brand into the script of the television show or movie. For example, product integration could include the storyline of a television episode revolving around a character's use of Speed Stick deodorant. 2. Concentrated Marketing is a strategy whereby a product is developed and marketed for a very well-defined and specific segment of the consumer population. 3. Market segmentation is a business practice that brands use to divide their target market into smaller, more manageable groups of people based on the common ground they share to optimize their marketing, advertising, and sales efforts. Therefore, Market orientation is a technique of selecting a marketing mix. od India's #1 Learning Platform PS ETa mele Ce Ll) Cee ane ost Pro Practice { A Peter resend Download App MCQ Question 10 View this Question Online > Which is the quadrant with the largest positive cash flow in the BCG matrix? It is this quadrant that typically services the other 3 quadrants. 1. Star Quadrant 2. Cow Quadrant 3. Dog Quadrant4, Question Mark Quadrant «ts Answer (Detailed Solution Belo) NA Option 2: Cov seyO ent MCQ Question 10 Detailed Solution A: (Boston Consulting Group matrix) + The BCG (Boston Consulting Group matrix) is also known as the product portfolio matrix. + It is a planning tool of the business which is used to estimate the strategic position of the brand portfolio of a firm. + BCG matrix is a popular portfolio analysis method that classifies the produet or service of a firm in a 2x2 matrix. + Each quadrant is categorized as e high or low performance, according to the selative market growth rate and market share.rag Peat erase Start Complete Exam Preparation Rear ue ost calito eed fa) ee Peers Creag peony Download App MCQ Question 11 View this Question Online > Generated increased sales by neglecting quality control, production efficiency and /or cash flow management are. 1. Over marketing 2. Remarketing 3° «Under marketing4, demarketing Answer (Detailed Solution Below) Option 1: Over marketingUE ABR uu early Start Complete Exam Preparation Deeg) pao se Download App MCQ Question 12 In the context of CRM, what does the abbreviation SFA stand for? 1. Sales Field Allocation 2. Sales Field Audit 3. Sales Frontend Audit 4. Sales Force Automation Answer (Detailed Solution Below) Option 4 : Sales Force Automation View this Question Online >India’s #1 Learning Platform Start Complete Exam Preparation Poa r= ia lac Verte Caeser Pao Download App MCQ Question 13 View this Question Online > Which of the following reflects the sum of perceived tangible and intangible benefits and costs to a customer? 1. Customer satisfaction 2. Customer delight 3. Customer value 4. Customer expectation Answer (Detailed Solution Below)PSH Os een Se Ra ae India’s #1 Learning Platform Rea ey eee Start Complete Exam Preparation a pries oe B® Download AppMCQ Question 14 View this Question Online > How many types of consumer clusters are defined in the VALS framework, which divides consumers according to their buying motivation behavior? Answer (Detailed Solution Below) Option 2:8Start Complete Exam Preparation ras fared Maa COS crel Question Bank Exori22 Download App MCQ Question 15 View this Question Online > What is the name of the data visualization tool that depicts a logical arrangement of key words within a textual content? The size of each word in the depiction usually indicates the frequency or importance of the word. 1. Heat Map 2. Meta Tag 3. Dendrogram 4. Word Cloud Answer (Detailed Solution Below) Option 4: Word Cloud