Mgt301 Collection of Old Papers

FINALTERM EXAMINATION Fall 2008 MGT301- Principles of Marketing (Session - 1) Question No: 1 ( Marks: 1 ) - Please choose one Question No: 2 ( Marks: 1 ) - Please choose one Which one of the following is designated as a runner-up firm that chooses not to rock the boat (usually out of fear that it stands to lose more than it might gain)? ► Market leader ► Market challenger ► Market follower ► Market niche Question No: 3 ( Marks: 1 ) - Please choose one Review of the sales, costs and profit projections for a new product to find out whether these factors satisfy the company’s objectives comes under which one of the following concepts? ► Business Analysis ► Product Development ► Test Marketing ► Commercialization Question No: 4 ( Marks: 1 ) - Please choose one concept of market _____________ arranges for a product to occupy a clear, distinctive, and desirable place relative to competition. ► Positioning ► Place ► Price ► Product Question No: 5 Which one of the following authorities might use several tools like news, speeches and special events for the marketing purpose? ► Advertising agencies ► Advertising specialists W W W vu . na an j .n t ng i O .C M The ( Marks: 1 ) - Please choose one Visit vujannat.ning.Com For Video Lectures ,previous assigmnets ,Papers,Chat, Study discussions and many more. WWW.vujannat.ning.COM Which one of the following is termed as embargo? ► Budget reforms ► Heavy taxes ► Strongest form of quota ► Heavy trade deficit W ► Public relation professionals ► Computer programmers Question No: 6 ( Marks: 1 ) - Please choose one Lobbying or building and maintaining relations with legislators and government officials to influence legislation and regulation are part of which one of the following options? ► Business ethics ► Press relations ► Press agencies ► Public relations Question No: 7 ( Marks: 1 ) - Please choose one The standards set for salespeople, stating the quantity they should sell and how sales should be divided among the company’s products refers to which one of the following options? ► Sales goals ► Company quotas ► Sales quotas ► Sales incentives Question No: 8 ( Marks: 1 ) - Please choose one A growing trend for many companies is to use a group of people from sales, marketing, engineering, finance, technical support and even upper management to service large, complex accounts. It refers to which one of the following approaches? ► Department selling ► Multiple selling ► Team selling ► Simultaneous selling Question No: 9 ( Marks: 1 ) To reduce time demands on their outside sales forces, many companies have increased the size of their inside sales forces, which include technical support people and sales assistants. Which one of the following can also be another part of the sales force? ► Order takers ► Order getters ► Telemarketers ► Secretaries W W W vu . - Please choose one na an j .n t ng i O .C M Question No: 10 ( Marks: 1 ) - Please choose one When a firm sets out to analyze, plan, implement, and control sales force activities through sales force management. What does it set and design? Visit vujannat.ning.Com For Video Lectures ,previous assigmnets ,Papers,Chat, Study discussions and many more. WWW.vujannat.ning.COM W ► Team selling efforts ► Promotional objectives ► Sales territories ► Sales force strategies Question No: 11 ( Marks: 1 ) - Please choose one The principles of personal selling described as which one of the following orientation? ► Service orientation ► Customer orientation ► Transaction orientation ► Relationship orientation Question No: 12 ( Marks: 1 ) - Please choose one Which of the following communication and promotion tools involve direct connections with customers aimed toward building customer-unique value and lasting relationships? ► Personal selling and direct marketing ► Public relation and publicity ► E-commerce and e-business ► Advertising and sales promotion Question No: 13 ( Marks: 1 ) - Please choose one The various stages of the personal selling process are illustrated below, which one of the following is NOT specific roles of the sales representative? ► Negotiating and closing the sale ► Sales presentation ► Prospecting ► Devising product strategy Question No: 14 ( Marks: 1 ) Fraudulent usage, inability to attract potentially brand-loyal customers and use by current customers but not new customers are believed to be disadvantages of which of the following? ► Money refunds ► Frequent-user incentives ► Coupons ► Premiums Question No: 15 ( Marks: 1 ) - Please choose one W W W vu . na an j .n t ng i O .C M - Please choose one Visit vujannat.ning.Com For Video Lectures ,previous assigmnets ,Papers,Chat, Study discussions and many more. WWW.vujannat.ning.COM W Expensive Coca-Cola television ads primarily are a type of which of the following advertising? ► Informative advertising ► Comparative advertising ► Persuasive advertising ► Reminder advertising Question No: 16 ( Marks: 1 ) - Please choose one Question No: 17 ( Marks: 1 ) - Please choose one Communication through a news story regarding an organization or its products that is transmitted through a mass medium at no charge, refers to which one of the following promotion mix? ► Advertising ► Sales promotion ► Personal selling ► Public relations Question No: 18 ( Marks: 1 ) - Please choose one Slow feedback, high costs and difficulty in measuring effects on sales are disadvantages of which one of the following promotion mix ingredient? ► Public relations ► Sales promotion ► Personal selling ► Advertising Question No: 19 ( Marks: 1 ) Which one of the following takes possession of truckloads of tomatoes, arranges for storage, and transports them to auctions to be sold? ► Selling agent ► Commission broker ► Commission merchant ► Selling broker Question No: 20 ( Marks: 1 ) - Please choose one W W W vu . na an j .n t ng i O .C M - Please choose one Visit vujannat.ning For Video Lectures ,previous assigmnets ,Papers,Chat, Study discussions and many more. WWW.vujannat.ning.COM In which of the following advertising a company directly or indirectly compares its brand with one or more other brands? ► Informative advertising ► Institutional advertising ► Reminder advertising ► Comparative advertising W Which one of the following is the primary purpose of a broker? ► Take title to a producer's goods ► Sell directly to the final consumer ► Sell directly to producers ► Bring buyers and sellers together Question No: 21 ( Marks: 1 ) - Please choose one If a retailer needed help with store design and training sales personnel, it would most likely use the services of which of the following wholesalers? ► Full-service wholesaler ► Full-price wholesaler ► Rack jobber ► Cash-and-carry wholesaler Question No: 22 ( Marks: 1 ) - Please choose one Which one of the following statement refers to manual order processing? ► Integrates the order processing and production planning ► Is flexible in special situations ► Is practical for a large volume of orders ► Is the most widely used form of order processing Question No: 23 ( Marks: 1 ) - Please choose one Which one of the following concept reflects the term “Order processing”? ► Is the same as order handling ► Is characterized by electronic processing ► Is the receipt and transmission of sales order information ► Is the second stage in a physical distribution system Question No: 24 Order processing, inventory management, materials handling, warehousing, and transportation fall under which of the following activities? ► Wholesaling ► Retailing ► Physical distribution ► Channel management W W ( Marks: 1 ) W vu . na an j .n t ng i O .C M - Please choose one Visit vujannat.ning.Com For Video Lectures ,previous assigmnets ,Papers,Chat, Study discussions and many more. WWW.vujannat.ning.COM W Question No: 25 ( Marks: 1 ) - Please choose one The success of each channel member depends on the performance of which of the following? ► Key channel members ► The entire supply chain ► The manufacturer ► The wholesaler Question No: 26 ( Marks: 1 ) - Please choose one Nationally distributed consumer convenience products such as cigarettes are MOST likely distributed through which of the following channels? ► Producer, agents, wholesalers, retailers, consumers ► Producer, wholesalers, consumers ► Producer, wholesalers, retailers, consumers ► Producer, industrial distributor, wholesalers, retailers, consumers Question No: 27 ( Marks: 1 ) - Please choose one ABC Company, the sportswear designer and manufacturer, decided to open its own specialty shops to sell its merchandise, the firm was engaging in which of the following channels? ► Vertical channel integration ► A conventional marketing channel ► Horizontal channel integration ► Channel expansion Question No: 28 ( Marks: 1 ) - Please choose one Which one of the following statement about price changes is TRUE? ► Large-market share brands are hurt more by price changes than smaller companies ► Temporary retail price reductions substantially decrease store traffic ► Brand equity is unaffected by frequent price changes ► Price changes for high-quality brands affect private label brands and weaker brands disproportionately Question No: 29 Which one of the following pricing policy may result in losing money on the product? ► Psychological discounting ► Penetration pricing ► Special-event pricing W W W vu . na an j .n t ng i O .C M ( Marks: 1 ) - Please choose one Visit vujannat.ning.Com For Video Lectures ,previous assigmnets ,Papers,Chat, Study discussions and many more. WWW.vujannat.ning.COM W ► Price leader Question No: 30 ( Marks: 1 ) - Please choose one Quantity discounts are a legal form of price discrimination. A quantity discount is a price reduction to buyers who purchase _____. ► Large volumes ► Inferior merchandise ► Superior merchandise ► Frequently Question No: 31 ( Marks: 1 ) - Please choose one Which one of the following pricing method is the simplest pricing method? ► Value-based ► Fixed cost ► Cost-based ► Skimming Question No: 32 ( Marks: 1 ) - Please choose one When Kodak sets the general price range, low for its cameras and set high for its related film , it is practicing which one of the following pricing? ► Market-penetration pricing ► Market-skimming pricing ► Product line pricing ► Captive-product pricing Question No: 33 ( Marks: 1 ) - Please choose one Which of the following is NOT a major factor for making firms price decisions? ► Environmental factors ► Marketing objectives ► Past sales ► Marketing mix strategy Question No: 34 Which one of the following statement reflects the market share pricing objective? ► Is not recommended when sales for the total industry are declining ► Is not especially useful when sales for the total industry are increasing ► Is not especially useful when sales for the total industry are flat W W W vu . na an j .n t ng i O .C M ( Marks: 1 ) - Please choose one Visit vujannat.ning.Com For Video Lectures ,previous assigmnets ,Papers,Chat, Study discussions and many more. WWW.vujannat.ning.COM W ► Can be used effectively whether total industry sales are rising or falling Question No: 35 ( Marks: 1 ) - Please choose one The consumer decides to make use of the product on a regular basis. Which one of the following concepts BEST describe it? ► Awareness ► Interest ► Trial ► Adoption Question No: 36 ( Marks: 1 ) - Please choose one Which of the following are industrial products that aid in the buyer’s production or operations, including installations and accessory equipment? ► Materials ► Specialty items ► Capital items ► Supplies Question No: 37 ( Marks: 1 ) - Please choose one What is the stage of the buyer decision process in which the consumer uses information to evaluate brands in the choice set? ► The alternative evaluation stage ► The situational stage ► The experimental stage ► The informative stage Question No: 38 ( Marks: 1 ) Which one of the following factor influences the consumer buying decision process? ► Person-specific ► Social ► Demographic ► Situational Question No: 39 W W W vu . - Please choose one na an j .n t ng i O .C M ( Marks: 1 ) - Please choose one Marketing researchers usually draw conclusions about large groups of consumers by studying which of the following small component of the total consumer population? ► Group Visit vujannat.ning.Com For Video Lectures ,previous assigmnets ,Papers,Chat, Study discussions and many more. WWW.vujannat.ning.COM W ► Sample ► Target group ► Audience Question No: 40 ( Marks: 1 ) - Please choose one "Consumers are spending more on products and services that will improve their lives rather than their image” reflects which aspect of the cultural environment? ► People's view of others ► People's view of themselves ► People's view of organizations ► People's view of nature Question No: 41 ( Marks: 1 ) - Please choose one Which one of the following is NOT a part of marketing channel firms (intermediaries)? ► Physical distribution firm ► Marketing service agency ► Financial intermediary ► Stock exchange Question No: 42 ( Marks: 1 ) - Please choose one Which one of the following set represents 4 C’s of the marketing mix? ► Customer Solution, Cost, convenience, communication ► Customer, cost, convenience, comfort ► Convenience, communication, coverage, cost ► Cost, coverage, communication, consultancy Question No: 43 ( Marks: 1 ) Which of the following is an intensive growth strategy of increasing sales in current markets with current products? ► Market development ► Market penetration ► Product development ► Market saturation Question No: 44 ( Marks: 1 ) - Please choose one W W W vu . - Please choose one na an j .n t ng i O .C M Identify the first step in the strategic marketing planning process? 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WWW.vujannat.ning.COM W ► The writing of the mission statement ► The establishment of organizational objectives ► The formulation of a marketing plan ► Hiring a senior planner Question No: 45 ( Marks: 1 ) - Please choose one ► Business portfolio ► BCG matrix ► Market growth rate ► Relative market share Question No: 46 ( Marks: 1 ) - Please choose one Which one of the following statements is an example of a problem that may arise in the implementation of the marketing concept? ► Dissatisfaction of one segment affects the satisfaction of other segments ► Consumers do not understand what the marketing concept is ► Dealers do not support the marketing concept ► A product may fit the needs of too many segments Question No: 47 ( Marks: 1 ) - Please choose one 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 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 in the market Question No: 48 ( Marks: 1 ) What does this statement shows “Trade of value between two parties”? ► Competition ► Transaction ► Exchange ► Need Question No: 49 ( Marks: 1 ) - Please choose one W W W vu . na an j .n t ng i O .C M - Please choose one Visit vujannat.ning.Com For Video Lectures ,previous assigmnets ,Papers,Chat, Study discussions and many more. WWW.vujannat.ning.COM In the Boston Consulting Group approach, which one of the following measure provides a measure of market attractiveness? W Which one of the followings best represent the involvement of management and employees in the continuous improvement of the production of goods and services? ► Marketing management ► Customer relationship management ► Knowledge management ► Total quality management Question No: 50 ( Marks: 1 ) - Please choose one Which one the following option is related with this statement “Rapid imitation of leader or challenger with moderate country market coverage and emphasis on price sensitive markets. The result is overall moderate share with high shares in selected country markets.” ► Global leader strategy ► Global challenger strategy ► Global follower strategy ► Global niche strategy Question No: 51 ( Marks: 5 ) Ecommerce (electronic commerce or EC) is the buying and selling of goods and services on the Internet, especially the World Wide Web. What do you know about the benefits of using ECommerce to buyer and seller? ANS: Benefits of E-Commerce to Buyer: • Easy and private • Convenience • Greater product access • Easy to compare products • Interaction is easy and immediate Benefits of E-Commerce to Sellers • It builds relationship between consumer and seller • Increased speed and efficiency • Flexibility • Access and reach is global • Cost is reduced Question No: 52 Sales promotion is one of the methods of promoting the product in the market. How would you describe it and how many types of Sales Promotion? ANS: SALES PROMOTION: Sales promotion is offering of short-term incentives to the buyers to purchase a product or use a service. It forces the buyer to do the purchase now. Types of Sales Promotion: There are a total of nine types of sales promotion offers. W W W vu . na an j .n t ng i O .C M ( Marks: 10 ) Visit vujannat.ning.Com For Video Lectures ,previous assigmnets ,Papers,Chat, Study discussions and many more. WWW.vujannat.ning.COM W • • • • • • • • • Question No: 53 ( Marks: 10 ) When choosing a distribution strategy a marketer must determine what value a channel member adds to the firm’s products. So marketer must assess the benefits received from utilizing a channel partner. Discuss the benefits Offered by Channel Members in detail? ANS: DISTRIBUTION/MARKETING CHANNEL: Marketing channel or distribution channel is a set of independent organizations who are involved in the process of making the product available to the consumers. Each member in the distribution channel adds a value to the supply chain. Therefore they must be managed well to achieve maximum benefit. Benefits offered by channel members: The channel members offer a number of benefits which are as follows • Information • Matching • Contact • Negotiation • Promotion • Physical distribution Question No: 54 What do you understand by direct marketing; discuss the advantages of direct marketing? ANS: DIRECT MARKETING: Direct marketing is the act of narrowly targeting and one to one marketing. Its main aim is to develop long term customer relationship. The marketers interact with customers on a one to one basis. There are various forms of direct marketing. Advantages of direct marketing: W W W v ja u n n t.n a ng i O .C M ( Marks: 10 ) Visit vujannat.ning.Com For Video Lectures ,previous assigmnets ,Papers,Chat, Study discussions and many more. WWW.vujannat.ning.COM Samples: Samples are offers of a trial amount of a product .It is a way to introduce a new product. Coupons: These are certificates that give buyers a saving when they buy a product. Premiums: These are goods offered for a free or at a low cost. Patronage rewards: These are cash or other awards offered for a regular use of a product. Cash refunds: It is a reduction in price after purchase not at the retail outlet. Point-of-purchase promotion: In point of purchase promotion a display and demonstration is taken place at the point of purchase. Advertising specialties: These are useful things on which the name of advertiser is written and given to buyers as a gift. Price Packs: They offer a saving off the regular price of product. Reduced price is marked by the producer directly on the label. Contests: Contests give consumer the chance to win something. W • • • • • • It is a strong way of building long term customer relationship. It is convenient The buying process becomes easy It reduces cost and increase efficiency. It provides an easy way to compare products Greater reach to products Visit vujannat.ning.Com For Video Lectures ,previous assi discussions and many more. W W W vu . na an j .n t ng i O .C M www.vujannat.ning.com MGT301 Principles of Marketing Final Term Examination - February 2005 Time Allowed: 150 Minutes Instructions Please read the following instructions carefully before attempting any of the questions: 1. Attempt all questions. Marks are written adjacent to each question. 2. Do not ask any questions about the contents of this examination from anyone. a. If you think that there is something wrong with any of the questions, attempt it to the best of your understanding. b. If you believe that some essential piece of information is missing, make an appropriate assumption and use it to solve the problem. c. Write all steps, missing steps may lead to deduction of marks. **WARNING: Please note that Virtual University takes serious note of unfair means. Anyone found involved in cheating will get an `F` grade in this course. Every paper has four subjective questions while 10 objective questions Total Marks: 60 Questions: 14 Question No. 1 Total Marks : 1 The stage in the product life cycle in which the marketing objective is to maximize profit while defending market share is the _______________ stage. 1 Introduction 2 Growth 3 Rejuvenation 4 Maturity (moderate) 5 Decline Question No. 2 A common mistake in pricing is _______________. 1 Setting prices according to demand Marks : 1 2 3 4 5 Revising prices too often Considering price and price competition as a key problem in marketing Ignoring costs when setting prices Setting prices independently of the rest of the marketing mix (difficult) Question No. 3 Which of the following is not a function of wholesalers? 1 Bulk-breaking 2 Selling and promoting 3 Transportation 4 Transportation 5 Risk bearing 6 Final customer segment selection (moderate) Question No. 4 Culture is the most fundamental determinant of a person's wants and behavior. 1 2 True False Marks : 1 Marks : 1 Question No. 5 Marks : 10 List and briefly describe the steps involved in the personal selling process. Which step do you think is most difficult for the average salesperson? Which step is the most critical to successful selling? Which step do you think is usually done most correctly? Explain each of your choices Question No. 6 Marks : 1 Post-purchase satisfaction is a function of the consumer's product expectations and the product's perceived performance 3 4 True False Question No. 7 Marks : 10 a) List and describe each of the channel functions that have been traditionally assigned to wholesalers. How will wholesalers have to change in order to meet the threat of increasing competition from larger retailers? From direct marketers? b) Write short note on wheel of retailing? Question No. 8 Select a familiar company and assume that you are an idea manager responsible for Marks : 10 generating new-product ideas. How would you structure your new-product process? What sources of new ideas would be most valuable? development Question No. 9 Marks : 1 Characteristics of business markets include that there are more buyers and larger buyers 5 6 True False Question No. 10 Marks : 1 Target marketing requires marketers to take three major steps: 1) Identify and profile distinct groups, 2) Select one or more segments to enter, and predict the consumer behavior of the segments. 7 8 True False Question No. 11 A product is anything that can be offered to a market to satisfy a want or need 9 True 10 False Marks : 1 Question No. 12 The first step in the buying process is the _______________. 1 2 3 4 5 Information search Evaluation of alternatives Purchase decision Location of alternatives Recognition of the need or problem (moderate) Marks : 1 Question No. 13 Marks : 1 When compared to the consumer market, the demand for goods and services in the business market is _______________. 1 2 Far more elastic Significantly more constant 3 4 5 Derived (moderate) More likely to be affected by changes in price All of the mention Question No. 14 Marks : 10 Discuss the three general pricing approaches and select an example to illustrate the primary characteristics unique to each general approach? WWW.vujannat.ning.COM Connecting VU Students FINAL TERM EXAMINATION SEMESTER FALL 2004 MGT 301 PRINCIPLES OF MARKETING (PAPER 3) Total Marks: 50 Duration: 120min Off line StudentID/LoginID Name PVC Name/Code Date Maximum Time Allowed: (2 Hour) Please read the following instructions carefully before attempting any of the questions: 1. Attempt all questions. Marks are written adjacent to each question. **WARNING: Please note that Virtual University takes serious note of unfair means. Anyone found involved in cheating will get an `F` grade in this course. Every paper has four subjective questions carrying 10 marks each and 10 objective questions carrying 1 mark each. 2. Do not ask any questions about the contents of this examination from anyone. a. If you think that there is something wrong with any of the questions, attempt it to the best of your understanding. b. If you believe that some essential piece of information is missing, make an appropriate assumption and use it to solve the problem. c. Write all steps, missing steps may lead to deduction of marks. For teachers use only Questions Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 Q11 Q12 Q13 Q14 Q15 Total Marks Question No: 1 Marks: 1 Pick the right answer Wholesaling means selling the product to final consumer. 1.True 2.False Question No: 2 Marks :1 Direct marketing includes sales presentations, trade shows, and incentive programs. 1.True 2.False Question No Marks:1 During the presentation step of the selling process, the salesperson tells the product “story” and explains the product benefits to the customer. 1. True 2. False Question No: 4 Marks: 1 Licensing is a simple way for manufacturers to enter international marketing with only a little risk. 1. True 2. False Question No: 5 Marks: 1 Publicity is news coverage, which is not paid for by the firm named in the news story. 1. True 2. False Question No: 6 Marks: 1 _____ is the amount of money charged for a product or service. a. Experience curve b. Demand curve c. Price d. Wage e. commission Question No: 7 Marks: 1 _____ consists of short-term incentives to encourage purchase or sales of a product or service. This offers reasons to buy it now. a. Personal Selling b. A segment promotion c. Advertising d. Sales promotion e. Advertising Question No: 8 Marks: 1 Which of the following products would most likely to be sold through the direct channel of distribution? a. Toothpaste b. Canned fruit juices c. Shampoo d. Deodorant e. Airplanes Question no: 9 Marks: 1 Before deciding whether to operate internationally, a company must thoroughly understand the ____ a. management contract b. economic community c. international marketing environment d. adapted marketing mix e. none of above Question No: 10 Marks: 1 _____ is used heavily when introducing a new product category. The objective is to build primary demand. f. Persuasive advertising g. Informative advertising h. Comparative advertising i. Patronage advertising j. Reminder Advertising Each promotional tool has unique characteristics and costs. Marketers must understand these characteristics in selecting their tools. Using Coca-Cola as an example, demonstrate how each of the promotional tools might be used to create an integrated marketing communications approach for the upcoming year. Question no:11 Marks: 10 Each promotional tool has unique characteristics and costs.Marketers must understand these characteristics in selecting their tools. Using Coca-Cola as an example, demonstrate how each of the promotional tools might be used to create an integrated marketing communications approach for the upcoming year. Question no:12 Marks: 10 Outline the three major steps in target marketing. Explain the four major segmenting variables for consumer markets. Question no:13 Marks: 10 a)Companies bringing out a new product can choose between two broad strategies: Market-skimming pricing and market-penetration pricing. Distinguish between them. b) Explain the factors involved in setting international pricing. Question no:14 Marks: 10 Define Wholesaling, How Can We Differentiate Full Service Wholesalers from limited services wholesalers. Briefly describe the functions performed by wholesalers? WWW.vujannat.ning.COM Connecting VU Students FALL 2007 MGT301 - PRINCIPLES OF MARKETING (Session - 3 ) FINALTERM EXAMINATION Marks: 60 Time: 150min StudentID/LoginID: Student Name: Center Name/Code: Exam Date: ______________________________ ______________________________ ______________________________ Saturday, March 15, 2008 Please read the following instructions carefully before attempting any question: 1. Write your student ID, Name and Centre Name /Code on the question paper as well as on answer sheet; Failure to do so will result in paper cancellation. 2. All questions are compulsory. 3. This exam consists of 15 Multiple Choice Questions (MCQs) carrying 1 mark each, 5 true false carrying 1 mark each, 5 fill in the blanks carrying 1 mark each, 3 short question carrying 5 marks each and 2 descriptive questions carrying 10 marks each. 4. For each MCQ, read the choices available carefully and “Encircle” (don’t tick mark) one which you consider is the most suitable answer. Zero marks will be given if more than one option is “Encircled”. 5. Write only one most suitable answer for fill in the blanks. More than one answer will be marked zero. 6. Cutting and overwriting in objective type questions (MCQs, Fill in the blanks and True/ Fall) is not allowed; if done so, that particular question will be marked zero. 7. Attempt all MCQs, True/False and Fill in the blanks on the question paper, Objective questions attempted on the answer sheet will not be considered for marking and will be graded zero. 8. If you believe that some essential piece of information is missing in any of the questions, make an appropriate assumption and use it to solve the problem. 9. While solving your descriptive part on the answer sheet, question numbers must be written in accordance with the number specified for each question in the question paper to avoid any inconvenience. 10. Students are advised to solve paper in blue and black ink and do not use red, green ink and led pencil. 11. Writing irrelevant/immoral material will be severely penalized. 12. This examination is closed book, closed notes and closed neighbors. 13. Use of mobile phones is strictly prohibited; switch it off if it is in your custody. 14. You may wish to pace yourself with your own watch but the supervisor will be the official time keeper of the test. 15. Failure to comply with the Supervisor’s directions will result in your exam paper being cancelled. Please comply with supervisor’s instructions to avoid any unpleasant event. 16. Non-compliance of any of the instructions will be dealt severely. Question Marks Question Marks Question Marks 1 11 21 2 12 22 3 13 23 For Teacher's use only 4 5 6 7 14 24 15 25 16 26 17 27 8 18 28 9 19 29 10 20 30 Total Question No: 1 ( Marks: 1 ) - Please choose one If you are going to segment your product market __________ factors will be considered for segmenting market. ► Measurability ► Substantiality ► Differentiation ► All of the given options Question No: 2 ( Marks: 1 ) - Please choose one _____________ are the circumstances that lead towards price cuts. ► Excess plant capacity ► Declining market share ► Attempt to dominate the market via lower costs ► All of the given options Question No: 3 ( Marks: 1 ) - Please choose one All of the following are components required to set up e-marketing EXCEPT? ► Creating a website ► Placing advertising or promotion online ► Conducting e-marketing ► Setting an outlet in an appropriate place Question No: 4 ( Marks: 1 ) - Please choose one Factors such as reviewing sales, costs and profit projections are a part of which stage of the newproduct process? ► Idea generation ► Market testing ► Business analysis ► Development Question No: 5 ( Marks: 1 ) - Please choose one Order Getting, order taking & supporting are the basic tasks of: ► Promotion ► Production ► Sales ► None of the given options Question No: 6 ( Marks: 1 ) - Please choose one Channel is more effective when: ► Each member is assigned task it can do best ► Coordination between all members ► Conflict management ► All of the above Question No: 7 ( Marks: 1 ) - Please choose one We evaluate channel alternatives through _____________ criteria. ► Economic ► Control ► Adaptive ► All of the given options Question No: 8 ( Marks: 1 ) - Please choose one Buying behavior and its benefits are best bases for ––––––––––––– . ► Business markets segmentation ► Demographic segmentation ► Geographic segmentation ► Behavioral segmentation Question No: 9 ( Marks: 1 ) - Please choose one What are two broad classes in which products and services fall based on the types of consumers who use them? ► Specialty products and convenience products ► Augmented products and actual products ► Consumer products and industrial products ► Needs and wants Question No: 10 ( Marks: 1 ) - Please choose one ––––– is a larger concept than –––––––. ► Style, design ► Design, name ► Design, style ► Name, style Question No: 11 ( Marks: 1 ) - Please choose one Company “A” decreases its product price by Rs.2. Next day company “B” also decreases its product price by Rs.2 to match competitor’s price. It is ––––––––––. ► Cost-plus pricing ► Status quo pricing ► Market share pricing ► Market penetration pricing Question No: 12 ( Marks: 1 ) - Please choose one Mission, Money, Message, Media & Measurement are the five M’s of: ► Promotion ► Price ► Direct Marketing ► Advertising Question No: 13 ( Marks: 1 ) - Please choose one How do firms use unfair competitive marketing practices? ► By stealing trade secrets ► Use inexpensive marketing techniques ► Copying product packaging design ► Set prices below costs, threaten to cut off business with suppliers, and discourage the buying of a competitor's products Question No: 14 ( Marks: 1 ) - Please choose one The function of logistic is: ► Negotiation ► Order Processing ► Information ► Matching Question No: 15 ( Marks: 1 ) - Please choose one __________ is a runner-up firm, fighting to overtake the leader. ► Market leader ► Market challenger ► Market niche ► Market follower Question No: 16 ( Marks: 1 ) - Please choose one Adding more channels/middlemen leads to convenience for both producer and seller but add up costs too. ► True ► False Question No: 17 ( Marks: 1 ) - Please choose one What rights do you think customer should have in marketing comes under 'Consumerism'. ► True ► False Question No: 18 ( Marks: 1 ) - Please choose one A desired outcome of promotion would be to favorably affect buyer behavior: ► True ► False Question No: 19 ( Marks: 1 ) - Please choose one The day the marketer starts thinking that he has achieved his goal, is his first day to decline. ► True ► False Question No: 20 ( Marks: 1 ) - Please choose one Benchmarking firm means the standard firm that is used for comparison while making SBUs. ► True ► False Question No: 21 ( Marks: 1 ) Attention, Interest, Desire, and Action are known as the __________ model. Question No: 22 ( Marks: 1 ) __________ involves designing and producing the container or wrapper for a product. Question No: 23 ( Marks: 1 ) Selection, motivation and evaluation are included in________________ of channel system. Question No: 24 ( Marks: 1 ) ___________ exporting is done through independent international intermediaries with less investment by the exporter. Question No: 25 ( Marks: 1 ) ______________ companies pay little attention to either customers or competitors. Question No: 26 ( Marks: 5 ) Point out the additional consumer rights that consumer advocates are calling for. Question No: 27 ( Marks: 5 ) How do you take franchising? Question No: 28 ( Marks: 5 ) Mr. Umar, a marketer, is facing problem for selecting the channel system that suite him best. He hires you as a consultant for setting criteria of evaluation. How would you evaluate the alternatives available to him? Question No: 29 ( Marks: 10 ) Marketing management involves important decisions when developing an advertising program. Kindly explain in details these decisions made by marketer. Question No: 30 ( Marks: 10 ) Suppose you are going to purchase a mobile phone how would you apply levels of product on mobile phone? http://vujannat.ning.com BEST SITE TO HELP STUDENTS FINALTERM EXAMINATION SPRING 2006 MGT301 - PRINCIPLES OF MARKETING (Session - 3 ) Marks: 60 Time: 120min StudentID/LoginID: Student Name: Center Name/Code: Exam Date: ______________________________ ______________________________ ______________________________ Wednesday, August 16, 2006 Please read the following instructions carefully before attempting any question: • • All questions are compulsory. This exam consists of 15 Multiple Choice Questions (MCQ’s) carrying 1 mark each, 5 Fill in the blanks carrying 1 mark each, 5 True / false statements carrying 1 mark each, 5 Short questions carrying 3 marks each, 1 Descriptive question carrying 10 marks. and 1 Case study carrying 10 marks. • • • This examination is closed book, closed notes, closed neighbors. Do not ask any questions about the contents of this examination from anyone. You may wish to pace yourself with your own watch, but the Supervisor will be the official timekeeper of the test. Failure to comply with the Supervisor’s directions will result in your test being cancelled. Please comply with supervisor’s directions to avoid any unpleasant event. For Teacher's use only 4 5 6 7 14 24 15 25 16 26 17 27 Question Marks Question Marks Question Marks Question Marks 1 11 21 31 2 12 22 32 3 13 23 8 18 28 9 19 29 10 20 30 Total Question No: 1 ( Marks: 1 ) - Please choose one Beyond simply retaining good customers, marketers want to constantly increase their “share of customer.” Identify suitable term related to this statement ► Marketers want to increase their market share. ► Marketers want to increase the share they get of the customer’s purchasing in their product categories. ► Marketers want to increase the profit margin with the target market. ► None of the given options. Question No: 2 ( Marks: 1 ) - Please choose one Which of the following is not the market challenging strategy: ► Attack the leader ► Acquire smaller firm ► Expand market share ► Avoid the leader Question No: 3 ( Marks: 1 ) - Please choose one ______ can use the bulletin boards, chat rooms and news letters for communication that can facilitate the exchange ► Buyers ► Virtual business ► Manufacturers/sellers ► None of the given options Question No: 4 ( Marks: 1 ) - Please choose one Early adopters will continue buying and later buyers will start following their lead in___________: ► ► ► ► Growth stage Decline stage Maturity stage Introduction stage Question No: 5 ( Marks: 1 ) - Please choose one Two basic ways to set list prices are the cost-oriented and ________oriented approaches. ► ► ► Volume Expense Demand ► Profit Question No: 6 ( Marks: 1 ) - Please choose one Sales decline because of many reasons, including: ► ► ► Technological advances Shift in customer tastes Increased competition ► All of the given options Question No: 7 ( Marks: 1 ) - Please choose one ______ involves a combination of promotion and a product alternation for the foreign market ► ► ► ► Communication adaptation Dual adaptation Product innovation Production adaptation Question No: 8 ( Marks: 1 ) - Please choose one Marketing concept holds that achieving organizational goals depends on determining ______________: ► ► Needs and wants of target market Customer or consumer of target market ► ► Producer and seller target market Price, place, product and promotion(4 P’s) Question No: 9 ( Marks: 1 ) - Please choose one __________is not the major public relation decision ► ► ► Setting public relation objectives Choosing public relation messages and vehicles Implementing the private relation plan ► Evaluating the result Question No: 10 ( Marks: 1 ) - Please choose one The number of product lines in the product mix is described as__________: ► Product mix length. ► Product assortment. ► Product mix width. ► Product mix consistency. Question No: 11 ( Marks: 1 ) - Please choose one A common practice among marketers is to increase sales to current customers without changing their products. What is this practice called? ► Market skimming ► Market penetration ► Market development ► Product extension Question No: 12 ( Marks: 1 ) - Please choose one The ________ calls for “good deeds” followed by good words. ► Marketing communication ► Marketing management ► Advertising ► Sales promotion Question No: 13 ( Marks: 1 ) - Please choose one Direct presentation of a product to a customer by a representative of the selling organization is termed as____________ ► Advertisement ► Personal selling ► Optimal product ► None of the given options Question No: 14 ( Marks: 1 ) - Please choose one The rule of E-marketing is______ ► Intellectual capital rules ► Time compression ► All of the given options ► Marketing deconstruction Question No: 15 ( Marks: 1 ) - Please choose one Following are the strategies of environmental sustainability except: ► Pollution prevention ► Product stewardship ► New environmental technology ► None of the given options Question No: 16 ( Marks: 1 ) The_____________ is a popular meeting place for consumer and business commerce. Question No: 17 ( Marks: 1 ) ___________is better off asking questions and letting buyers come to their own conclusion. Question No: 18 ( Marks: 1 ) _______ is a tax levied by Govt. against certain important product, designed to raise revenue. Question No: 19 ( Marks: 1 ) The______ is the price that consumers expect to pay for many of the products they purchase. Question No: 20 ( Marks: 1 ) Marketing efforts should be guided by marketing ___________ . Question No: 21 ( Marks: 1 ) - Please choose one Internet was first used in 1972. ► True ► False Question No: 22 ( Marks: 1 ) - Please choose one All companies and trade associations organize convention and trade shows to promote their product. ► True ► False Question No: 23 ( Marks: 1 ) - Please choose one A sales force requires a long term commitment than advertising. ► True ► False Question No: 24 ( Marks: 1 ) - Please choose one Production concept is useful when demand for a product is less than the supply. ► True ► False Question No: 25 ( Marks: 1 ) - Please choose one Advertising can succeed only if commercials gain attention and communicate well. ► True ► False Question No: 26 ( Marks: 3 ) List down the steps involved in developing an effective communication. Question No: 27 ( Marks: 3 ) Describe two major steps which must be taken in order to deal effectively with competitors and their strategies? Question No: 28 ( Marks: 3 ) Briefly define the two parts of black box? Question No: 29 ( Marks: 3 ) Describe the three main reasons for the popularity of markup pricing? Question No: 30 ( Marks: 3 ) How does an organization create a customer? Question No: 31 ( Marks: 10 ) What are the major marketing logistic functions that have a major impact on both customer satisfaction and company cost? Question No: 32 ( Marks: 10 ) Asian Herbs manufactures the herbal products. Qarshi Industries and Hamdard Laboratories are old companies in this field. Asian Herbs wants to promote its products. As Manager Marketing at Asian Herbs what steps will you take to promote the company’s products? WWW.vujannat.ning.COM Connecting VU Students SPRING 2007 MGT301 - PRINCIPLES OF MARKETING (Session - 3 ) FINALTERM EXAMINATION Marks: 60 Time: 150min StudentID/LoginID: Student Name: Center Name/Code: Exam Date: Monday, July 09, 2007 Virtual University of Pakistan Principles of Marketing – MGT301 Final Term Exam (Spring 2007) Maximum Marks: 60 INSTRUCTIONS: All questions are compulsory. This exam consists of 15 Multiple Choice Questions (MCQ’s) carrying 1 mark each, 5 true false carrying 1 mark each, 5 fill in the blanks carrying 1 mark each, 3 short question carrying 5 marks each and 2 descriptive questions carrying 10 marks each. For each MCQ, read the choices available and encircle one which you consider is the most suitable answer on the question paper. Zero marks will be given if more than one option will be marked. Remember not to spend too much time on any MCQ. Since all MCQ’s carry equal marks, it is important to manage your time and response to test questions effectively. Do not ask any questions about the contents of this examination from anyone. You may wish to pace yourself with your own watch, but the Supervisor will be the official timekeeper of the test. Use of mobiles is strictly prohibited; switch it off if it is in your custody. Failure to comply with the Supervisor’s directions will result in your exam paper being cancelled. Please comply with supervisor’s directions to avoid any unpleasant event. Question Marks Question Marks Question Marks 1 11 21 2 12 22 3 13 23 For Teacher's use only 4 5 6 7 14 24 15 25 16 26 17 27 8 18 28 9 19 29 10 20 30 Total Question No: 1 ( Marks: 1 ) - Please choose one A person who is bringing buyers and sellers together and assists in negotiation is called: ► Broker ► Selling Agent ► Agent ► Purchasing Agent Question No: 2 ( Marks: 1 ) - Please choose one A person has something which is tangible and can satisfy his need or want is a: ► Benefit ► Product ► Value ► Service Question No: 3 ( Marks: 1 ) - Please choose one A person X obtains his desired object from a person Y and offers something in return to the person Y, his act is called: ► Transaction ► Trade ► Exchange ► Barter Question No: 4 ( Marks: 1 ) - Please choose one A person is directly presenting a product to the customer. He is doing: ► Relationship Selling ► Personal Selling ► Non Personal Selling ► None of the above Question No: 5 ( Marks: 1 ) - Please choose one Company is offering short term incentives to encourage the purchase or sale of a product or service. Company is doing: ► Publicity ► Sales Promotion ► Both 1 & 2 ► None of the above Question No: 6 ( Marks: 1 ) - Please choose one Suppose Nestlé is trying to increase its sales by introducing its existing/current product like Nestlé mineral water in a new market. It is adopting: ► Market Penetration Strategy ► Market development Strategy ► Product Development Strategy ► Diversification Question No: 7 ( Marks: 1 ) - Please choose one A researcher is taking data from the balance sheet of a company. He is collecting: ► Primary Data ► Mathematical Data ► Descriptive Data ► Secondary Data Question No: 8 ( Marks: 1 ) - Please choose one A researcher has put a question in his questionnaire and the respondent has to give the answer of that question in his own words. The question is: ► Close Ended Question ► Multiple Choice Question ► Open Ended Question ► Long Question Question No: 9 ( Marks: 1 ) - Please choose one A person is purchasing a product and selling this products to customers. The person is called: ► Intermediary ► Seller ► Reseller ► Supplier Question No: 10 ( Marks: 1 ) - Please choose one The different important decisions which are to be taken while designing the advertising campaign, does not include: ► Mission ► Money ► Message ► None of the above Question No: 11 ( Marks: 1 ) - Please choose one The discount which is offered by the seller to trade channel members who perform certain functions, such as selling, storing, and record keeping is called: ► Functional Discount ► Cash Discount ► Seasonal Discount ► None of the above Question No: 12 ( Marks: 1 ) - Please choose one The promotional strategy that calls for spending a lot on promotion to build up consumer demand; if successful, consumer will ask their retailers for the product, the retailer will ask the wholesalers and wholesalers will ask the producers, is called: ► Push Strategy ► Pull Strategy ► Intensive Strategy ► None of the above Question No: 13 ( Marks: 1 ) - Please choose one The store that carries a wide variety of product lines is called: ► Super stores ► Department store ► Convenience store ► Specialty stores Question No: 14 ( Marks: 1 ) - Please choose one A quantity discount is basically a price reduction to: ► Sellers ► Buyers ► Whole sellers ► 2&3 Question No: 15 ( Marks: 1 ) - Please choose one Strategy for setting a product’s price often has to be changed when the product is part of a: ► Product line ► Product mix ► Competition ► None of the above Question No: 16 ( Marks: 1 ) - Please choose one Fixed Cost Mark up Price - VC Break - even Volume = ► True ► False Question No: 17 ( Marks: 1 ) - Please choose one A quantity discount is a price reduction to buyers who buy large volumes. ► True ► False Question No: 18 ( Marks: 1 ) - Please choose one Product life cycle involves six stages. ► True ► False Question No: 19 ( Marks: 1 ) - Please choose one Product’s perceived performance in delivering value relative to a buyer’s expectations is called customer value. ► True ► False Question No: 20 ( Marks: 1 ) - Please choose one The strategy that creates competitive advantage by offering products with unique customer benefits or features not available from competitive offerings is called overall cost leadership. ► True ► False Question No: 21 ( Marks: 1 ) the activities involved in selling goods or services directly to final consumers for their personal, non business use. Question No: 22 ( Marks: 1 ) A ----------- is a name, sign, symbol, design or a combination of these that identifies the maker or seller of a product or service. Question No: 23 ( Marks: 1 ) ---------------- process of building, maintaining, and using customer database and other database for the purposes of contacting and transacting with customers. Question No: 24 ( Marks: 1 ) When the objective is to gather preliminary information that will help to better define problems and suggest hypotheses for their solution, it is called ---------------------Question No: 25 ( Marks: 1 ) _ is society’s relatively permanent and ordered divisions whose members share similar values, interests and behaviors. Question No: 26 ( Marks: 5 ) Suppose you are the manager of an ABC company. How will you manage your sales force? Explain your answer in points. Question No: 27 ( Marks: 5 ) World is becoming global village, companies are placing greater emphasis on logistics; describe those several reasons for which companies are in great need of logistics? Question No: 28 ( Marks: 5 ) Differentiate consumer distribution channel from business distribution channel? Question No: 29 ( Marks: 10 ) ABC Company has introduced a new product and the company wants to give the ad of its product. How can the company select the advertising media to promote its new product? Question No: 30 ( Marks: 10 ) What could be the functions of distribution channel/members of the marketing channel that can help the XYZ Company to enhance its sales of a particular product? www.vujannat.ning.com MGT301 Principles of Marketing Mid Term Examination - November 2004 Time Allowed: 90 Minutes Instructions Please read the following instructions carefully before attempting any of the questions: 1. Attempt all questions. Marks are written adjacent to each question. 2. Do not ask any questions about the contents of this examination from anyone. a. If you think that there is something wrong with any of the questions, attempt it to the best of your understanding. b. If you believe that some essential piece of information is missing, make an appropriate assumption and use it to solve the problem. c. Write all steps, missing steps may lead to deduction of marks. **WARNING: Please note that Virtual University takes serious note of unfair means. Anyone found involved in cheating will get an `F` grade in this course. Every paper has four subjective questions while 10 objective questions Total Marks: 60 Questions: 14 Question No. 1 Total Marks : 1 A common practice among marketers is to identify and develop new markets for their existing products. This practice is called _____. 1 2 3 4 Market development Product development Market penetration Market skimming Question No. 2 Marks : 1 ____ are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors 1 2 3 4 Social classes Purchase decisions Perceptions Attitudes Question No. 3 Marks : 1 The five alternative concepts under which organizations conduct their marketing activities include the production, _____, selling, marketing, and societal marketing concepts 1 Promotion 2 Pricing 3 Distribution 4 Product Question No. 4 The most commercially influential demographic group in history is _____. 1 2 3 4 Generation X Baby boomers Generation Y Seniors Marks : 1 Question No. 5 Describe the Steps of Consumer buying process. Question No. 6 Marks : 10 Marks : 1 The twofold goal of marketing is to attract new customers by promising superior Value and to _____. 1 2 3 4 Keep and grow current customers by delivering satisfaction Keep and grow current customers by delivering competitive pricing Keep and grow current customers by delivering friendly service All of the given options Question No. 7 Marks : 10 List and explain the "core, actual, and augmented products" of the educational experience that universities offer. How are these different, if at all, from the "product" offered by junior colleges? Question No. 8 Discuss the functions of a marketing information system (MIS). Marks : 10 Question No. 9 Marks : 1 The objective of _____ research is to gather preliminary information that will help define the problem and suggest hypothesis 1 2 3 4 Descriptive Exploratory Causal Current Question No. 10 When your firm practices developing and maintaining a strategic fit between your organization's goals and capabilities, it is forming 1 mission statement 2 values statement 3 strategic plan 4 operating plan Marks : 1 Question No. 11 Marks : 1 With respect to the product life cycle, the ______________ is a period of slow sales growth as the product is introduced in the market 1 2 3 4 product development stage introduction stage growth stage maturity stage Question No. 12 The _____ environment consists of factors that affect consumer purchasing power and spending patterns 1 2 3 4 Social-cultural Political-legal Technological Economic Marks : 1 Question No. 13 Marks : 1 Choose the item from the following that is not one of the standard four Ps 1 Product 2 Place 3 Positioning 4 Price Question No. 14 Define the following: 1. Marketing 2. Needs and wants 3. Marketing offer 4. Value 5. Exchanges Marks : 10 WWW.vujannat.ning.COM Connecting VU Students MID TERM EXAMINATION SEMESTER Fall 2004 MGT 301 PRINCIPLES OF MARKETING (Paper 3) Total Marks: 50 Duration: 60 min offline StudentID/LoginID Name PVC Name/Code Date Maximum Time Allowed: (1 Hour) Please read the following instructions carefully before attempting any of the questions: 1. Attempt all questions. Marks are written adjacent to each question. 2. Do not ask any questions about the contents of this examination from anyone. a. If you think that there is something wrong with any of the questions, attempt it to the best of your understanding. b. If you believe that some essential piece of information is missing, make an appropriate assumption and use it to solve the problem. c. Write all steps, missing steps may lead to deduction of marks. **WARNING: Please note that Virtual University takes serious note of unfair means. Anyone found involved in cheating will get an `F` grade in this course. Every paper has four subjective questions and 10 objective questions For teachers use only Questions Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 Q11 Q12 Q13 Q14 Q15 Total Marks Question No: 1 Marks: 1 _____ is managing profitable customer relationships. a. Management b. Control c. Marketing d. Human Resources Question No: 2 Marks: 1 Finding ways in which a company can best use its strengths to take advantage of attractive opportunities in the environment describes _____. a. establishing a mission b. defining a vision c. creating a values statement d. strategic planning Question No: 3 Marks: 1 Which of the four Ps describes the goods-and-services combination the company offers to the target market? a. price b. promotion c. product d. place Question No: 4 Marks: 1 You are directed to study societal forces that affect your company – demographic, economic, natural, technological, political, and cultural factors What are you studying? a. the macro environment b. the microenvironment c. the marketing environment d. the global environment Question No: 5 Marks: 1 The way to begin marketing research is to gather secondary data, which consists of information _____. a. that already exists somewhere b. that does not currently exist in an organized form c. that already exists somewhere, having been collected for another purpose d. used by competition. Question No: 6 Marks: 1 Maslow has a list of human needs from the most pressing to the least pressing. They include all of the following except _____. a. physiological needs b. safety needs c. need recognition d. self-actualization Question No: 7 Marks: 1 Examples of pure tangible goods include all of the following EXCEPT: a. soap. b. tax preparation. c. toothpaste. d. salt. Question No: 8 Marks: 1 __________________ is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter. a. mass marketing b. market segmentation c. market targeting d. market positioning Question no: 9 Marks: 1 Broadly defined, products include all of the following EXCEPT: a. money and payments. b. services. c. ideas. d. persons. Question No: 10 Marks: 1 With respect to the product life cycle, the _______________ is a period of rapid market acceptance and increasing profits. a. product development stage b. introduction stage c. growth stage d. maturity stage Question no:11 Marks: 10 What goes into a company’s macro environment? Question No:12 Marks: 10 Which product life cycle stage, if any, is the most important? Which stage is the riskiest? Which stage appears to hold the greatest profit potential? Which stage needs the greatest amount of “hands-on” management? Be certain to explain the thinking behind each of your answers. Question No:13 Marks: 10 Compare and contrast the following strategies for growth: market penetration, market development, product development, and diversification. Question No:14 Marks: 10 . Describe some 21st century challenges that are faced by the marketers. WWW.vujannat.ning.COM Connecting VU Students FALL 2007 MGT301 - PRINCIPLES OF MARKETING (Session - 5 ) MIDTERM EXAMINATION Marks: 40 Time: 120min StudentID/LoginID: Student Name: Center Name/Code: Exam Date: ______________________________ ______________________________ ______________________________ Saturday, December 01, 2007 Instructions: Please read the following instructions carefully before attempting any question: All questions are compulsory. This exam consists of 10 Multiple Choice Questions (MCQ’s) carrying 1 mark each, 5 true/false carrying 1 mark each, 3 short questions carrying 5 marks each and 1 long descriptive question carrying 10 marks. For each MCQ, read the choices available and ENCIRCLE one which you consider is the most suitable answer. Zero marks will be given if more than one option will be marked. Do not make tick mark (√), only ENCIRCLE the correct option. Attempt all MCQ’s on the question paper, no credit will be given to the MCQ’s attempted on the answer sheet. Remember not to spend too much time on any MCQ. Since all MCQ’s carry equal marks, it is important to manage your time and response to test questions effectively. Write the same question number as given in the question paper, for example, if you are attempting Q # 16 first then don’t write it Q # 01, write it Q # 16 and so on. Do not ask any question about the contents of this examination from anyone. If you believe that some essential piece of information is missing, make an appropriate assumption and use it to solve the problem. This examination is closed book, closed notes, closed neighbors. You may wish to pace yourself with your own watch, but the Supervisor will be the official timekeeper of the test. Use of mobile phone is strictly prohibited; switch your mobile off if it is in your custody. Failure to comply with the Supervisor’s directions will result in your exam paper being cancelled. Please comply with supervisor’s directions to avoid any unpleasant event. Question Marks Question Marks Question Marks 1 11 2 12 3 13 For Teacher's use only 4 5 6 7 14 15 16 17 8 18 9 19 10 Total Question No: 1 ( Marks: 1 ) - Please choose one _____ is the most basic cause of a person’s wants and behaviors. ► Culture ► Brand personality ► Cognitive dissonance ► New product Question No: 2 ( Marks: 1 ) - Please choose one Which of the following phrases reflects the positioning? ► What are you selling? ► How are you distributing your product to get it into the marketplace? ► What place do you want your product to hold in the consumer’s mind? ► How are you telling consumers in your target group about your product? Question No: 3 ( Marks: 1 ) - Please choose one "Consumers favor quality products that are reasonably priced” reflects the ___________. ► Marketing concept ► Selling concept ► Product concept ► Target marketing Question No: 4 ( Marks: 1 ) - Please choose one Customer Relationship Management (CRM) is mainly based upon the ________. ► Market share ► Sales volum ► Customer loyalty ► Profits Question No: 5 ( Marks: 1 ) - Please choose one In excessive demand, _________may be required to reduce the number of customers or to shift demand temporarily or permanently. ► Marketing ► Demarketing ► Value marketing ► All of the given options Question No: 6 ( Marks: 1 ) - Please choose one The most basic concept underlying marketing is that of ___________. ► Customer satisfaction ► Retaining customers ► Human needs ► Fulfilling consumer wants Question No: 7 ( Marks: 1 ) - Please choose one Consumers are convinced to buy organization's products through large scale of selling and promotional efforts, comes under______________ concept. ► Marketing concept ► Production concept ► Product concept ► Selling concept Question No: 8 ( Marks: 1 ) - Please choose one The marketing information system is not limited to use by the company it serves. It may also provide information to ________ . ► The government ► External partners ► Various publics ► Competitors Question No: 9 ( Marks: 1 ) - Please choose one The purpose of _________ is developing a strategy to meet competition and ensure long-term survival and growth. ► A market ► Strategic planning ► Short-term planning ► Operational planning Question No: 10 ( Marks: 1 ) - Please choose one Most portfolio analysis methods evaluate SBUs on two dimensions, namely _____ and _____. ► Market share; sales ► Market growth rate; relative market share ► Market attractiveness; market growth rate ► Market growth rate; profits Question No: 11 ( Marks: 1 ) - Please choose one Product, price, place, and promotion make up the elements of a firm’s marketing myopia. ► True ► False Question No: 12 ( Marks: 1 ) - Please choose one Market segmentation is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter. ► True ► False Question No: 13 ( Marks: 1 ) - Please choose one Portfolio Analysis is a portfolio-planning tool for identifying company growth strategies. ► True ► False Question No: 14 ( Marks: 1 ) - Please choose one Marketing intelligence is systematic collection and analysis of publicly available information about competitors and developments in the marketing environment. ► True ► False Question No: 15 ( Marks: 1 ) - Please choose one The image a product reflects in the minds of consumers is called market segmentation. ► True ► False Question No: 16 ( Marks: 5 ) Subhan Co. has been very sucessful as it is contributing alot towards the education of poor children through a Welfare Fund apart from selling its goods to the market. Its main priority is to give value to its valuable customers. So Subhan Co. has adopted societal marketing. How would you take societal marketing concept? Question No: 17 ( Marks: 5 ) It is very difficult to fulfill the consumer’s expectations; to make him satisfied. Sometimes it also happens that he becomes dissatisfied when products fall short of expectations. How does marketer find consumers satisfied or dissatisfied with purchase? Question No: 18 ( Marks: 5 ) Involvement and differences between products give birth to different behaviors of buyers. Explain them in short. Question No: 19 ( Marks: 10 ) Why the organizations are in great need of analyzing consumers' behaviors? How the consumer behavior is influenced? Why the marketers are interested in analyzing the culture of a consumer? www.vujannat.ning.com MGT301 Principles of Marketing Mid Term Examination (Session 3) – Spring 2006 Please read the following instructions carefully before attempting any question: • • All questions are compulsory. This exam consists of 10 Multiple Choice Questions (MCQ’s) carrying 1 mark each, 5 Fill in the blanks carrying 1 mark each, 5 Short questions carrying 3 marks each and 1 Descriptive question carrying 10 marks. • You are required to show all the working of short questions as well as descriptive question. • • • This examination is closed book, closed notes, closed neighbors. Do not ask any questions about the contents of this examination from anyone. You may wish to pace yourself with your own watch, but the Supervisor will be the official timekeeper of the test. • Failure to comply with the Supervisor’s directions will result in your test being cancelled. Please comply with supervisor’s directions to avoid any unpleasant event. Time Allowed: 90 Minutes Question No. 1 Marks : 3 Briefly define customer and consumer? Question No. 2 Marks : 1 _______ is anything that can be offered to market for attention, acquisition, use or consumption. Question No. 3 Marks : 3 What is the difference between mass marketing and database marketing? Question No. 4 Marks : 1 When products are being developed, marketers must: Identify the core Design the actual product Identify the core and design the actual product. None of the given options Question No. 5 Marks : 1 The major tool for accomplishing strategic control is the _____________ Question No. 6 Marks : 1 A modern marketing system involves all the elements necessary to bring together: General public Buyers and sellers 4 Ps ( Price, product, place, promotion ) Consumers/customers Question No. 7 Marks : 1 Which of the following is not the major force in the company's macro environment: Technology. Economic Publicity Demographic Question No. 8 Marks : 1 One useful device for identifying growth opportunities for future is: Product/market expansion Portfolio planning Increase in sale of the firm Market share growth Question No. 9 Marks : 1 Two important demographic factors that impact the marketing management are: Income and education Decision making and risk Product and price Income and expenditure Question No. 10 Marks : 1 Which of the following is not the characteristic of strategic plan Its leads to better co-ordination of company's efforts It is useful for management to think to go ahead systematically It is dangerous for the fast changing environmental changes and sudden development It clarifies the performance standards for control Question No. 11 Marks : 1 ___________ involves designing and producing the container or wrapper for a product Question No. 12 Marks : 3 List down the chief factors that can be used for segmenting international markets? Question No. 13 Marks : 1 Institutional market consist of School Nursing homes Prisons All of the given options Question No. 14 Marks : 1 Desirable quality of a good brand name includes It should be distinctive It should be incapable of registration It should not be easy to recognize None of the given options Question No. 15 Marks : 10 XYZXYZ Limited Company is going to establish a new business and being a marketing manager you are required to prepare a detailed marketig plan for it. Question No. 16 Marks : 1 Buyer characteristics include the major factor Cultural Social Psychological All of the given options Question No. 17 Marks : 3 List down the stages in the adoption process? Question No. 18 Marks : 3 What are the basic goals of CRM (Customer relationship marketing)? Question No. 19 Marks : 1 Cell phone, fax machine ,CD ROM and interactive TV are just few tools being used to: Purchase order Make connection Marketing the product Promote the sale Question No. 20 Marks : 1 Personal self concept is called ____________ Question No. 21 Marks : 1 _________ is the original function charged with defining customer's targets WWW.vujannat.ning.com http://vujannat.ning.com Largest Online Community of VU Students MIDTERM EXAMINATION SPRING 2006 MGT301 - PRINCIPLES OF MARKETING (Session - 5 ) Marks: 40 Time: 60min StudentID/LoginID: Student Name: Center Name/Code: Exam Date: ______________________________ ______________________________ ______________________________ Saturday, May 27, 2006 Please read the following instructions carefully before attempting any question: • • All questions are compulsory. This exam consists of 10 Multiple Choice Questions (MCQ’s) carrying 1 mark each, 5 Fill in the blanks carrying 1 mark each, 5 Short questions carrying 3 marks each and 1 Descriptive question carrying 10 marks. • • • • You are required to show all the working of short questions as well as descriptive question. This examination is closed book, closed notes, closed neighbors. Do not ask any questions about the contents of this examination from anyone. You may wish to pace yourself with your own watch, but the Supervisor will be the official timekeeper of the test. • Failure to comply with the Supervisor’s directions will result in your test being cancelled. Please comply with supervisor’s directions to avoid any unpleasant event. Question Marks Question Marks Question Marks 1 11 21 2 12 3 13 For Teacher's use only 4 5 6 7 14 15 16 17 8 18 9 19 10 20 Total Question No: 1 ( Marks: 1 ) - Please choose one All of the following are disadvantages of telephone interviewing except _________ ► Higher cost than mail questionnaires ► ► ► Introduces interviewer bias Under time pressures some interviewers might cheat Interviewers tend to interpret answers similarly Question No: 2 ( Marks: 1 ) - Please choose one Your marketing department is attempting to improve strategic decision making, assess and track competitors’ actions, and provide early warning of opportunities and threats. Your department would do well to use _____. ► ► ► ► Internal databases External database Marketing intelligence The internet Question No: 3 ( Marks: 1 ) - Please choose one Individuals are bringing their spiritual awareness to the _____ they buy. ► ► Products. Brands. ► Styles. ► Benefits Question No: 4 ( Marks: 1 ) - Please choose one A society’s basic values, perceptions, preferences, and behaviors are found in its _____ ► ► ► Social environment. Cultural environment. Social cultural environment. ► All of the given options. Question No: 5 ( Marks: 1 ) - Please choose one One of the major concerns for marketers about the natural environment is the _____. ► ► Number of protestors against misuse Shortages of raw materials ► Increases in recycling ► None of the given options Question No: 6 ( Marks: 1 ) - Please choose one __________ group shares new cultural concerns, cares about the environment, and responds favorably to socially responsible companies. ► ► ► Generation X Generation Y Generation Z ► Baby boomers Question No: 7 ( Marks: 1 ) - Please choose one Your marketing environment is currently researching the size, density, location, age, and occupations of your target market. What is this environment ► Demographic ► Psychographic ► VALS ► Geographic Question No: 8 ( Marks: 1 ) - Please choose one You are directed to study the factors that are close to the company that affect its ability to serve its customers – the company, suppliers, marketing intermediaries, customer markets, competitors and publics. What are you studying? ► ► ► The macro environment The micro environment The marketing environment ► The global environment Question No: 9 ( Marks: 1 ) - Please choose one Which of the following types of management organization might be best for companies that sell one product line to many different types of markets and customers that have different needs and preferences? ► ► Market Customer ► Product ► Market and customer Question No: 10 ( Marks: 1 ) - Please choose one Economists use the term “market” differently than marketers. They refer to a collection of buyers and sellers who transact in a particular _____, as in the commodities or housing market. ► ► ► Product class Product division Market segment ► Target market Question No: 11 ( Marks: 1 ) Marketing researchers usually draw conclusions about large groups of consumers by studying a small _____ of the total consumer population Question No: 12 ( Marks: 1 ) ers must weigh carefully the costs of additional information against the _____ resulting from it Question No: 13 ( Marks: 1 ) MIS consists of people, equipment, and procedures to gather, sort, _____, evaluate and distribute information to marketing decision makers Question No: 14 ( Marks: 1 ) e excited about studying marketing. You tell your younger brother that product, price, placement and promotion make up the __________. Question No: 15 ( Marks: 1 ) Marketing is not carried on by sellers alone. _____ also carry on marketing Question No: 16 ( Marks: 3 ) What is meant by De-marketing? Question No: 17 ( Marks: 3 ) List down the basic goals of customer relationship management Question No: 18 ( Marks: 3 ) What is meant by Business Portfolio? How a business can design its portfolio? Question No: 19 ( Marks: 3 ) Which factors make the company’s macro environment? Question No: 20 ( Marks: 3 ) How can a manger develop a research plan? Question No: 21 ( Marks: 10 ) Write down the levels of segmentation? WWW.vujannat.ning.com http://vujannat.ning.com Largest Online Community of VU Students MIDTERM EXAMINATION SPRING 2007 MGT301 - PRINCIPLES OF MARKETING (Session - 1 ) Marks: 40 Time: 60min StudentID/LoginID: Student Name: Center Name/Code: Exam Date: ______________________________ ______________________________ ______________________________ Thursday, May 17, 2007 Virtual University of Pakistan Principles of Marketing – MGT301 Mid Term Exam (Spring 2007) INSTRUCTIONS: All questions are compulsory. This exam consists of 10 Multiple Choice Questions (MCQ’s), 5 fill in the blanks, 1 short question and 2 descriptive questions. For each MCQ question, read the choices available and select one [By marking Tick (a)] which you consider is the most suitable answer. Zero marks will be given if more than one option will be marked. Remember not to spend too much time on any one MCQ. Since all MCQ’s carry equal marks, it is important to manage your time and response to test questions effectively. Failure to comply with the Supervisor’s directions will result in your exam paper being cancelled. Please comply with supervisor’s directions to avoid any unpleasant event. Maximum Marks: 40 Question Marks Question Marks Question Marks 1 11 2 12 3 13 For Teacher's use only 4 5 6 7 14 15 16 17 8 18 9 10 Total Question No: 1 ( Marks: 1 ) - Please choose one Marketing seeks to create and manage profitable customer relationships by delivering _____ to customers. competitive prices superior value superior service superior promotion Question No: 2 ( Marks: 1 ) ► ► ► ► - Please choose one You have learned at work that today’s successful companies at all levels have one thing in common: they are strongly customer focused and heavily committed to _____. obtaining the best CEOs increasing wealth to stockholders employee motivation marketing Question No: 3 ( Marks: 1 ) - Please choose one The twofold goal of marketing is to attract new customers by promising superior value and to _____. keep and grow current customers by delivering satisfaction keep and grow current customers by delivering competitive pricing keep and grow current customers by delivering friendly service all of the given options Question No: 4 ( Marks: 1 ) - Please choose one As a new assistant marketing manager trainee, you learn in an orientation meeting that _____ are the form human needs take as they are shaped by culture and individual personality. wants demands self concepts desires Question No: 5 ( Marks: 1 ) ► ► ► ► ► ► ► ► ► ► ► ► - Please choose one Which of the following does business portfolio planning entail? analyzing the current portfolio deciding which units should receive more or less investment deciding which units should receive no further investment all of the given options Question No: 6 ( Marks: 1 ) - Please choose one ► ► ► ► The BCG market growth rate provides a measure of _____. company's strength in the market decline of competitors market attractiveness the unit stock value Question No: 7 ( Marks: 1 ) - Please choose one One of these represents marketing’s main responsibility for a company. achieving maximum stockholder wealth increasing sales achieving profitable growth developing new products through research Question No: 8 ( Marks: 1 ) - Please choose one What does the term “customerization” mean? The company leaves it to individual customers to design the offering. Customers can shop anytime they want to. Customers can talk to each other on the Internet. None of the given options. Question No: 9 ( Marks: 1 ) - Please choose one The most commercially influential demographic group in history is _____. generation X baby boomers generation Y seniors Question No: 10 ( Marks: 1 ) ► ► ► ► ► ► ► ► ► ► ► ► ► ► ► ► - Please choose one You are directed to study the factors that are close to the company that affect its ability to serve its customers – the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. What are you studying? the macroenvironment the microenvironment the marketing environment the global environment Question No: 11 ( Marks: 1 ) By _____ the market and having several detergent brands, Proctor & Gamble has an attractive offering for consumers in all important preference groups. Question No: 12 ( Marks: 1 ) When a company identifies the parts of the market it can serve best and most profitably, it is practicing _____. ► ► ► ► Question No: 13 ( Marks: 1 ) Baby boomers were born between the years 1946 and _____. Question No: 14 ( Marks: 1 ) The final step in the strategic planning processes is _____________________. Question No: 15 ( Marks: 1 ) ________________is a strategy for company growth by offering modified or new products to the markets. Question No: 16 ( Marks: 5 ) Distinguish between value proposition and marketing offer. Explain the concepts by giving real life examples. Question No: 17 ( Marks: 10 ) A consumer’s behavior is also influenced by social factors, such as the consumer’s small groups, family, and social roles and status. Explain the differences between these social factors by giving examples. Question No: 18 ( Marks: 10 ) A Company ABC has launched a new economy pack (5-Kg) of Tomato Ketchup considering the fact that this will be price effective for the customers but the sales figures of last six months show that people are not buying the economy pack as it was expected. The company is now planning to determine the reasons behind the lack of public interest in the economy pack. You have been appointed as a consultant to guide the marketing department of the company ABC determining the reasons of the failure. Keeping in view the objectives explain the pros and cons of each of the following contact methods for collection of information and suggest to the marketing department that which one is most suitable method for the company in the given scenario; 1. Mail Questionnaires 2. Telephonic Interviews 3. Personal and group interviews 4. Computer-assisted interviews (On-Line Survey) WWW.vujannat.ning.com http://vujannat.ning.com Largest Online Community of VU Students MIDTERM EXAMINATION SPRING 2007 MGT301 - PRINCIPLES OF MARKETING (Session - 2 ) Marks: 40 Time: 90min StudentID/LoginID: Student Name: Center Name/Code: Exam Date: ______________________________ ______________________________ ______________________________ Thursday, May 17, 2007 Virtual University of Pakistan Principles of Marketing – MGT301 Mid Term Exam (Spring 2007) Maximum Marks: 40 INSTRUCTIONS: All questions are compulsory. This exam consists of 10 Multiple Choice Questions (MCQ’s), 5 fill in the blanks, 3 short question and 1 descriptive questions. For each MCQ question, read the choices available and select one {By marking Tick (a)} which you consider is the most suitable answer. Zero marks will be given if more than one option will be marked. Remember not to spend too much time on any one MCQ. Since all MCQ’s carry equal marks, it is important to manage your time and response to test questions effectively. Failure to comply with the Supervisor’s directions will result in your exam paper being cancelled. Please comply with supervisor’s directions to avoid any unpleasant event. Question Marks Question Marks Question 1 11 2 12 3 13 For Teacher's use only 4 5 6 7 14 15 16 17 8 18 9 19 10 Total Marks Question No: 1 ( Marks: 1 ) - Please choose one _____________ are used to help employees to communicate with each other within the company. ► Internet ► Intranet ► Extranet ► Ethernet Question No: 2 ( Marks: 1 ) - Please choose one A common practice among marketers is to identify and develop new markets for their existing products. This practice is called _____. ► product development ► market penetration ► market development ► market skimming Question No: 3 ( Marks: 1 ) - Please choose one Marketing plays a key role in a company’s strategic planning. Which of the following does marketing provide? ► guiding philosophy ► inputs ► strategies ► All of the given options Question No: 4 ( Marks: 1 ) - Please choose one The old marketing view emphasized trying to make a profit on each sale rather than trying to profit by managing ____________ ► customer lifetime value ► customer satisfaction index ► cognitive dissonance ► All of the given options Question No: 5 ( Marks: 1 ) - Please choose one The marketing information system is not limited to use by the company it serves. It may also provide information to _____. ► the government ► external partners ► Various Publics ► None of the given options Question No: 6 ( Marks: 1 ) - Please choose one Companies can conduct e-marketing in any of four ways. What is not one of these ► creating a Web site ► placing ads online ► calling their customers to do surveys ► setting up or participating in Web communities Question No: 7 ( Marks: 1 ) - Please choose one As a marketer of pesticides, you should be concerned about all of the following natural environment trends mentioned in your text except _____. ► shortages of raw materials ► increased pollution ► increased government intervention ► government subsidies Question No: 8 ( Marks: 1 ) - Please choose one New technologies create new opportunities and new _____. ► products ► services ► markets ► means of financing purchases Question No: 9 ( Marks: 1 ) - Please choose one What is one way that a social class is not measured? ► occupation ► education ► income ► number of children in the family Question No: 10 ( Marks: 1 ) - Please choose one Your colleague is confused about using the marketing research process. He seems to be having problems with _____, which is often the hardest step to take. ► defining the problem ► defining the research objectives ► defining the problem and research objectives ► choosing a research agency to help Question No: 11 ( Marks: 1 ) ___________________ stands for company activities that make the product available to target consumers. Question No: 12 ( Marks: 1 ) A company is getting huge market share but it is not growing at the same pace. It is an example of _________________. Question No: 13 ( Marks: 1 ) Food, shelter and clothing are examples of ________________ needs. Question No: 14 ( Marks: 1 ) _____________ should be stated as goals the company would like to reach during the plan’s term. Question No: 15 ( Marks: 1 ) ______________ involved looking at whether the company’s basic strategies are well matched to its opportunities Question No: 16 ( Marks: 5 ) Analyze the major challenges being faced by marketers in the 21st Century in terms of using fast technology to connect to the customers. Question No: 17 ( Marks: 5 ) Each person’s distinct personality influences his or her buying behavior. Personality is usually described in terms of traits. What are these traits, and how do they affect the way people purchase items? Question No: 18 ( Marks: 5 ) Discuss the functions of a marketing information system (MIS). Question No: 19 ( Marks: 10 ) Compare and contrast the following strategies for growth: market penetration, market development, product development, and diversification. Explain each by giving examples from the real life. MGT301-Principles of Management Midterm Special 2006 www.vujannat.ning.com Write down the key principles for public policy towards marketing? Solution:public policy to guide commerce--sets of laws and regulations limiting business for the good of society as a whole Most firms practice the selling concept when they face _____. o a crisis o a recession o fierce competition o overcapacity Being a student of Principles of Marketing please describe that what are the reasons of studying this subject? Solution:Reasons for Studying Marketing: Marketing is part of all of our lives and touches us in some way every day. To be successful each company that deals with customers on a daily basis must not only be customer-driven, but customer-obsessed. The best way to achieve this objective is to develop a sound marketing function within the organization. Major reason to study marketing is: Marketing plays an important role in society. It is Vital to business. Marketing offers outstanding career opportunities. Marketing affect your life every day. Many marketers use a concept today to determine which customers can be served profitably and which ones cannot. They target the winning ones for pampering. What is this concept called? o selective relationship management o target marketing o market segmenting o selective targeting Children are an important part of the family’s buying process. What roles do they play? Solution:- Marketers are interested in the roles and influences of the Marketers are interested in the roles and influence of the children on the purchase of different products and services. Children may also have a strong influence on family buying decisions. For example, it ran ads to woo these "back-seat consumers" in Sports Illustrated for Kids, which attracts mostly 8- to 14-year-old boys. "We're kidding ourselves when we think kids aren't aware of brands," says Venture's brand manager, adding that even she was surprised at how often parents told her that kids played a tiebreaking role in deciding which car to buy. Karrie Romanov wants to capture the full essence of customer relationship management. Which of the following will Karrie take into consideration? o own the customers for life o capture their lifetime value o build overall customer equity o all of the given options Economists use the term “market” differently than marketers. They refer to a collection of buyers and sellers who transact in a particular product class, as in the commodities or housing market In addition to connecting more deeply with customers, many companies are also connecting more directly with their customers. Why do we study consumer behavior? Solution:Basic objective of the studying consumer behavior is that the firm needs to know who buys their product. How they buy? When and where they buy? Why they buy? How they respond to marketing stimuli. Because they study consumer behavior what is Consumer Behavior about? How, why, where and when consumers make purchase decisions? Considers who influences the decisions? What is Consumer Behavior about? All these are important questions, which are to be known to the companies so that they can design, and implement marketing strategies to satisfy the customers. Consumers determine the sales and profits of a firm by their purchase decisions, thus the economic viability of the firm. what is Disposable income and what is Discretionary income what is the stage of family life cycle stage because these all these factors influence the consumer behaviors which are very important to the marketers. Consumer behavior is the process through which the ultimate buyer makes purchase decisions. This can be defined as Consumer Behavior Defined as of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires (Solomon, 1996). Those actions directly involved in obtaining, consuming and disposing of products and services, including the decision processes that precede and follow those actions. Consumer behavior examines mental and emotional processes in addition to the physical activities. Highly successful companies know that if they take care of their customers,_____ will follow o frequent word of mouth o market share o profits o market share and profits In buyer decision process, what are the sources from which buyer can collect information? There are five sources to collect information and these sources are given below. Needs recognition Information search Evaluation of alternatives Purchase decision Post purchase behavior Now that we have looked at the influences that affect buyers, we are ready to look at how consumers make buying decisions. Figure shows that the buyer decision process consists of five stages: need recognition, information search, evaluation of alternatives, purchase decision, and post purchase behavior. Clearly, the buying process starts long before actual purchase and continues long after. Marketers need to focus on the entire buying process rather than on just the purchase decision. The figure implies that consumers pass through all five stages with every purchase. But in more routine purchases, consumers often skip or reverse some of these stages. A woman buying her regular brand of toothpaste would recognize the need and go right to the purchase decision, skipping information search and evaluation. However, we use the model in Figure because it shows all the considerations that arise when a consumer faces a new and complex purchase situation. At work, customers decide to satisfy needs and wants through exchange. What occurs at this point? o Selling o customer service o marketing o transaction marketing Now many companies are beginning to think of _relationship____ interests as well as their own customers’ needs. __________control the flow of information to others o Gatekeeper o Storekeeper o Both of the given options o None of the given options How does an organization create a customer? Solution:Organizations (producer/ seller) can create the customers by Identifying customer needs, designing goods and services that meet those needs than communicating information about those goods and services to prospective buyers Making the goods or services available at times and places that meet customers’ needs Pricing goods and services to reflect costs, competition, and customers’ ability to buy and finally providing for the necessary service and follow-up to ensure customer satisfaction after the purchase Marketing seeks to create and manage profitable customer relationships by delivering _____ to customers. o competitive prices o superior value o superior service o superior promotion To practice the marketing concept, an organization must deliver the _____ better than competitors. Product modifications, product improvements and new brand through the firm’s own R & D efforts is termed as __________ o Product concept o Product development o Idea generation o Idea screening Jonathan Nash works in sales for a telemarketing firm. His firm uses the selling concept which takes a (an) _____ approach o outside-in o myopic o inside-out o marketing concept Marketers need to build, create, communicate and deliver real value to customers One of these represents marketing’s main responsibility for a company o achieving maximum stockholder wealth o increasing sales o achieving profitable growth o developing new products through research Connecting VU Students FINALTERM EXAMINATION SPRING 2006 MGT301 - PRINCIPLES OF MARKETING (Session - 1 ) Marks: 60 Time: 120min StudentID/LoginID: Student Name: Center Name/Code: Exam Date: ______________________________ ______________________________ ______________________________ Wednesday, August 16, 2006 Please read the following instructions carefully before attempting any question: • • All questions are compulsory. This exam consists of 15 Multiple Choice Questions (MCQ’s) carrying 1 mark each, 5 Fill in the blanks carrying 1 mark each, 5 True / False statements carrying 1 mark each, 5 Short questions carrying 3 marks each, 1 Descriptive question carrying 10 marks. and 1 Case study carrying 10 marks. • • • This examination is closed book, closed notes, closed neighbors. Do not ask any questions about the contents of this examination from anyone. You may wish to pace yourself with your own watch, but the Supervisor will be the official timekeeper of the test. • Failure to comply with the Supervisor’s directions will result in your test being cancelled. Please comply with supervisor’s directions to avoid any unpleasant event. Question Marks Question 1 11 2 12 3 13 For Teacher's use only 4 5 6 7 14 15 16 17 8 18 9 19 10 20 Total Connecting VU Students Marks Question Marks Question Marks 21 31 22 32 23 24 25 26 27 28 29 30 Question No: 1 ( Marks: 1 ) - Please choose one SWOT analysis is carried out to ► ► Measure the strengths of the competitors. Ascertain the weaknesses of the competitors. ► Ascertain the strengths and weaknesses of own organization. ► None of the given options Question No: 2 ( Marks: 1 ) - Please choose one When we talk about product in marketing, we mean: ► Physical commodity that has a benefit for the consumer. ► ► A virtual thing that leads to human satisfaction. A person, place or an idea. Connecting VU Students ► None of the given options Question No: 3 ( Marks: 1 ) - Please choose one The need for marketing was felt because ► Commodities were being produced in excess of demand. ► People were ignorant of the products produced by the manufacturers. ► Sales teams did not come up to the expectations of the organization. ► There was a direct need to generate demand for want satisfying goods. Question No: 4 ( Marks: 1 ) - Please choose one ______________ is a complex concept that must be carefully defined ► Product ► Price ► Promotion ► Placement Connecting VU Students Question No: 5 ( Marks: 1 ) - Please choose one _________ is demand-stimulating activity designed to supplement advertising and facilitate personal selling. ► Direct marketing ► Direct selling ► Sales promotion ► Personal selling Question No: 6 ( Marks: 1 ) - Please choose one You have learned at work that today’s successful companies at all levels have one thing in common: they are strongly customer focused and heavily committed to _____. ► Obtaining the best CEOs ► Increasing stockholder’s wealth ► Marketing ► Employee motivation Question No: 7 ( Marks: 1 ) - Please choose one Some companies often use study results as claims in their _____. Connecting VU Students ► Advertising ► Promotion ► Advertising and promotion ► Annual reports Question No: 8 ( Marks: 1 ) - Please choose one ____________are given to final consumers, distributors or channel members for doing something or accepting less of something. ► Allowances ► Credits ► Bonuses ► Incentives Question No: 9 ( Marks: 1 ) - Please choose one Customers buy from stores and firms that offer the highest _____. ► Value for the dollar Connecting VU Students ► Customer perceived value ► Level of customer satisfaction ► All of the given options Question No: 10 ( Marks: 1 ) - Please choose one Many marketers use ____________ concept today to determine which customer can be served profitably and which one cannot. ► Selective relationship management ► Target marketing ► Market segmentation ► Selective targeting Question No: 11 ( Marks: 1 ) - Please choose one Marketing planning at your firm occurs at ________ ► Business unit; market ► Business unit; product Connecting VU Students ► Product; market ► Business unit; product; market Question No: 12 ( Marks: 1 ) - Please choose one marketing manager for CNG Industries, you should be aware that legislation affecting business around the world will continue to ______ ► Exist ► Increase ► Remain steady ► Decrease Question No: 13 ( Marks: 1 ) - Please choose one ___________Pricing policy tries to sell the whole market at one low price. ► Skimming ► Penetration ► Discount ► Global Question No: 14 ( Marks: 1 ) - Please choose one tCompetitors are most likely to react when ► Number of firms involved is small ► Product is uniform Connecting VU Students ► The buyers are well informed ► All of the given options Question No: 15 ( Marks: 1 ) - Please choose one The total assortment of products and services marketed by a firm is called its: ► Product line ► Master mix ► Line assortment ► Product mix Question No: 16 ( Marks: 1 ) Tactical marketing planning for an organization is carried out for the ___________ term period. Question No: 17 ( Marks: 1 ) _________is caused by shortsightedness or loosing sight of underlying customer needs by only focusing on existing needs. Question No: 18 ( Marks: 1 ) _________ is introducing a new product into the market. Question No: 19 ( Marks: 1 ) The___________ product includes any additional consumer service and benefit built around the core and actual products. Question No: 20 ( Marks: 1 ) ________________ include convenience products, shopping products, specialty products and unsought products. Question No: 21 ( Marks: 1 ) - Please choose one In many companies, personal selling is the largest single operating expense. Connecting VU Students ► True ► False Question No: 22 ( Marks: 1 ) - Please choose one Most companies today are moving away from transaction marketing, with its emphasis on making a sale. ► True ► False Question No: 23 ( Marks: 1 ) - Please choose one Prospecting leads is the process of identifying good ones in the product line and screening out the poor ones. ► True ► False Question No: 24 ( Marks: 1 ) - Please choose one More and more companies are adopting direct selling as a primary approach. ► ► True False Question No: 25 ( Marks: 1 ) - Please choose one A competitive intelligence system helps the company to acquire and manage the competitive information. ► True Connecting VU Students ► False Question No: 26 ( Marks: 3 ) How would you define relationship marketing? Question No: 27 ( Marks: 3 ) Who are Laggards? Question No: 28 ( Marks: 3 ) What are the main advantages of having brand quality? Question No: 29 ( Marks: 3 ) How a company might assess and respond to a competitor’s price cut? Question No: 30 ( Marks: 3 ) What is the difference between advertising and publicity? Question No: 31 ( Marks: 10 ) What are the objectives of internet marketing? Question No: 32 ( Marks: 10 ) Pepsi Cola is a leading manufacturer of beverages around the world. In Pakistan, Pepsi Cola is facing the challenge of competition from Amrat Cola which has grabbed a significant market share in a short time. In order to increase the sales, management of Amrat Cola has decided to reduce its prices by 10%. Country Manager of Pepsi Cola has decided not to lower the prices in response to price reduction decision of Amrat Cola. Do you think country manager has taken right decision? In your view to what extent this will affect the market share of Pepsi Cola? Do SWOT analysis of pepsi cola and Amrat cola. Connecting VU Students