Pre-Requisite Competency (PRC) Stage Examination

60 minutes – 50 marks

Name: ____________________ Batch # _______

PRC 05- ITB
Test # 7 (Chapter 7)

1. Which are related to trust and relationship:

a) Marketing b) Finance c) Budget d) Procurement
2. For marketing organization needs:
a) Data b) Strategy c) Finance d) All of these
3. Marketing process focuses upon
a) Buying b) Selling c) Branding d) All of these
4. ______ is the chance of loss associated with marketing decision:
a) Blunder b) Risk c) Benefit d) Damage
5. Air travel, dry cleaning and haircuts are example of:
a) Tangible benefits b) Intangible benefits c) Profits d) None of these
6. Which is most important in marketing:
a) Products b) Price c) Promotion d) Distribution
7. What is customer’s perception about a specific brand:
a) Buying b) Selling c) Brand image d) Brand quality
8. Brand ‘s purpose, overall mission and vision and goal is called:
a) Brand positioning b) Brand attributes c) Brand ownership d) Brand personality
9. In branding, what is image:
a) Brand Positioning b) Brand attributes
c) Brand elements d) Brand Personality
10. How can a company develop its brand attributes?
a) Actions b) Images c) Advertising d) All of these
11. is a transaction between two parties
a) Marketing b) Procurement c) Demand d) Sale
12. How could organization reach customers:
a) Sales b) Marketing c) Push d) Pull
13. How organization generate interest in the product.
a) Sales b) Marketing c) Strategy d) Scope
14. What promotes the product?
a) Sales b) Strategy c) Policy d) Marketing
15. Which phase make customer aware of product?
a) Branding b) Saling c) Introduction d) promotion
16. In which phase sale of product increases rapidly?
a) Branding b) Promotion c) Growth d) sale
17. In which phase, competition of product is observed?
a) Introduction b) Growth c) Branding d) Maturity
18. What is price skimming?
a) Price is low b) Price is high
c) Price is competitive d) Price is medium
19. When product is available for the customer, what is it called?
a) Promotion b) Place c) Branding d) Pricing
20. Price that is charged depends upon ?
a) Market b) Growth c) Branding d) People
21. With respect to marketing, by creating which of the following, a firm can succeed in the long run?
a. Specific business strategy b. Trust and effective relationship with customers
c. Effective advertising strategies d. Effective business rules and regulations
22. In marketing, businesses try to respond to which of the following and to anticipate changes in the environment?
a. Consumer rights b. Consumer needs and wants
c. Consumer interest and willingness d. All of the above
23. Marketing is not just selling and advertising; it is a _________approach to satisfying consumers' needs and wants.
a. Functional b. Traditional c. Systematic d. Constructive
24. Oye Hoye, a leading company in market, deals in quality goods at reasonable prices. The company launched a new
product. It hired a marketing team to launch a marketing campaign for the new product. However, the product did
not gain the expected response from customers. Resultantly company had to discontinue the product. In your view,
which of the following may be the cause for this failure?
a. Company sold the new product at high prices b. Quality of new product was poor
c. Company did not understand the customer needs and wants d. None of the above
25. With respect to marketing a business cannot achieve its objectives unless
a. It designs the best selling strategy b. It sales high quality product at low price
c. It promotes the product to be launched d. It provides something that customers value
26. Just creating an innovative product that meets many users’ needs isn’t sufficient in today’s volatile global
marketplace. Products must be
a. Conveniently available b. Competitively priced
c. Uniquely promoted d. All of the above
27. Which of the following is the act of giving up one thing (money, credit, labor, goods) in return for something else
(goods, services, or ideas).
a. Return b. Production c. Exchange d. Trade
28. LALA is a service company providing repair services for electronic items. Recently they repaired the AC properly
and pleased the customer and in return they get satisfactory amount. Therefore they created value for their services
by providing satisfactory services. This illustration is drawing your attention towards which of the following process?
a. Discount b. Service c. Exchange d. Supply of goods
29. The marketing concept specifically involves which of the following?
a. Focusing on the needs and wants of the customers so the organization can distinguish its product(s) from competitors’
offerings. Products can be goods, services, or ideas.
b. Integrating all of the organization’s activities, including production and promotion, to satisfy these wants and needs
c. Achieving long-term goals for the organization by satisfying customer wants and needs legally and responsibly
d. All of the above
30. Ride hailing services like Careem and Uber found that its customers are unable to get products or items delivered.
Therefore, they started a delivery and logistics service using the existing fleet of cars and motor bikes. Keeping in view
this scenario choose one of the following factor that becomes the reason for this development.
a. Service value b. Customer value c. Customer need d. All of the above
31. Pizza Hut offers loyalty points or membership cards to regular customers to retain them and lure them away from
new entrants.In your opinion which one of the following is the purpose for such offer.
a. To encourage competition b. To retain the customers value
c. To retain the profitability d. All of the above
32. Why an organization that truly utilizes the marketing concept uses the data about potential customers from the
very inception of the product?
a. To create the best goods, service, or idea possible
b. To create other marketing strategies to support the product
c. All of the above
d. None of above
33. The tangible product itself may not be as important as the image or the benefits associated with the product. This
“something of value” may be capability gained from using a product or the image evoked by it, or even the brand
name.
a. Tangible b. Intangible c. Benefits d. Satisfaction
34. Everyone who shops for products (consumers, stores, businesses, governments) decides whether and what to buy.
A marketer must understand which of the following to determine what products to make available?
a. Product features and functions b. Buyer's need and desires
c. Buyer's buying potential d. Buyer's demand
35. ABC is a leading company that creates a product and intends to earn maximum profit from the sale of that
product. To launch the product publicly they run an advertising campaign. Which turn out to be great in encouraging
sales. Which of the following marketing activity is being done in this example.
a. Promotion b. Selling c. Branding d. Advertising
36. Fresh Mangos are only available for a few months annually as it is seasonal fruit, but consumers demand juice
throughout the entire year. Sellers must arrange for cold storage of mango juice concentrate so that they can
maintain a steady supply all of the time. This is the example of which of the following marketing activity?
a. Grading b. Buying c. Storing d. Selling
37. Which of the following will create a chance of loss while developing a new product.
a. If consumers do not accept the product or its associated promotion in the intended way
b. If the product promotion give rise to competition
c. If the product is highly priced with high quality and has extra features
d. None of the above
38. Which of the following is a complex mix of tangible and intangible attributes that provide satisfaction and
benefits?
a. Product b. Services c. Ideas d. None of the above
39. According to Kotler and Armstrong: is anything that can be offered to a market for attention, acquisition, use or
consumption that might satisfy want or need. It includes physical objects, services, persons, places, organizations and
ideas.
a. Goods b. Services c. Sale d. Product
40. Products usually have both and attributes.
a. Desirable, satisfactory b. Favorable, unfavorable
c. Significant, beneficial d. None of the above
41. Which of the following is an important variable and often the central focus of the marketing mix.
a. Promotion b. Price c. Product decision d. Product
42. Which of the is the characteristics of a product?
a. A product needs to be irrelevant b. A product needs to be miscommunicated
c. A product needs a name d. All of the above
43. Which of the following helps the product stand out from the clutter or products and names?
a. Product features b. Brand c. Grading d. Product nature
44. Chuky restaurant offers shakes and juices in summer while they switch to tea, coffee and soup in winter as per the
customer need and according to the trend. This relates to which one of the following characteristics of product.
a. Adaptability b. Name c. Relevance d. Communications
45. The functions of both marketing and selling rely on each other to achieve sales and marketing effectiveness in an
organization.
a. Heavily b. Moderately c. Narrowly d. Lightly
46. When were modern selling concepts originated?
a. By the mid of 50s b. By the mid of 40s
c. By the mid of 30s d. By the mid of 60s
47. Dania, a house wife, goes for shopping for clothes. During the shopping she finds that at one shop the price of the
dress she has chosen is high and at the other shop the price of the same dress is comparatively low with better quality
stuff. So she buys the dress from the shop which is offering low rates. This is the example of which type of consumer
good.
a. Specialty product b. Shopping product
c. Convenience product d. All of the above
48. A man goes to buy milk, the price of milk at the shop is Rs 150/kg. Without bothering about price and comparing it
with the price other shops are offering, he buys the milk. This indicates which class of the consumer product?
a. Shopping product. b. Specialty product.
c. Convenience product d. None of the above
49. Products usually have both and attributes.
a. Desirable, satisfactory b. Favorable, unfavorable
c. Significant, beneficial d. None of the above
50. When evaluating specialty products, consumers base their purchasing decision primarily on personal preference,
not on .
a. Comparative alternative b. Comparative pricing
c. Comparative quality d. None of the above