Marketing Management MCQs

What is the core concept of marketing? a. Selling products b. Maximizing profits c. Customer satisfaction d. Cost reduction Answer: c In the marketing mix (4 Ps), what does “Place” refer to? a. The physical evidence of a product b. The distribution channels and locations where products are available c. The promotional activities of a product d. The design and features of a product Answer: b Which of the following is a demographic variable commonly used in market segmentation? a. Product usage b. Psychographics c. Age d. Lifestyle Answer: c What is the term for a unique set of associations consumers make with a brand? a. Brand equity b. Brand personality c. Brand extension d. Brand loyalty Answer: a Which stage in the product life cycle is characterized by a rapid increase in sales, and competitors entering the market? a. Introduction b. Growth c. Maturity d. Decline Answer: b What is the purpose of a SWOT analysis in marketing? a. To evaluate a company’s internal strengths and weaknesses and external opportunities and threats b. To assess the effectiveness of promotional activities c. To determine the pricing strategy for a product d. To analyze the distribution channels Answer: a Which pricing strategy involves setting a high initial price and then gradually lowering it over time? a. Penetration pricing b. Skimming pricing c. Discount pricing d. Cost-plus pricing Answer: b What is the term for a group of individuals or organizations that have an interest in the company’s products, industry, or success? a. Competitors b. Stakeholders c. Distributors d. Retailers Answer: b Which promotional mix element involves non-personal communication transmitted through media such as TV, radio, and print? a. Advertising b. Personal selling c. Sales promotion d. Public relations Answer: a What is the process of selecting and evaluating market segments to enter called? a. Market targeting b. Market positioning c. Market segmentation d. Market differentiation Answer: a In the context of marketing, what does “CRM” stand for? a. Customer Relationship Management b. Cost Reduction Management c. Competitive Research Metrics d. Consumer Response Mechanism Answer: a What is the term for the set of all products and items a company offers for sale? a. Product mix b. Product assortment c. Product line d. Product portfolio Answer: a Which stage in the consumer decision-making process involves evaluating the options available and selecting the best one? a. Problem recognition b. Information search c. Evaluation of alternatives d. Purchase decision Answer: c What is the term for the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities? a. Marketing control b. Marketing planning c. Marketing implementation d. Marketing strategy Answer: b In marketing, what is the term for a specific, measurable, achievable, relevant, and time-bound marketing objective? a. Marketing strategy b. Marketing plan c. Marketing goal d. Marketing tactic Answer: c Which type of market segmentation is based on factors such as lifestyle, values, and personality traits? a. Geographic segmentation b. Demographic segmentation c. Psychographic segmentation d. Behavioral segmentation Answer: c What is the term for a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, or fall within a similar price range? a. Product mix b. Product assortment c. Product line d. Product portfolio Answer: c In marketing, what is the term for a company’s overall ability to deliver superior value to customers compared to its competitors? a. Customer satisfaction b. Competitive advantage c. Brand equity d. Market segmentation Answer: b Which stage in the product life cycle is characterized by a decline in sales and profits? a. Introduction b. Growth c. Maturity d. Decline Answer: d What is the term for a pricing strategy where the company sets a low initial price to quickly penetrate the market and gain a large market share? a. Skimming pricing b. Discount pricing c. Cost-plus pricing d. Penetration pricing Answer: d What is the term for a set of interdependent organizations involved in the process of making a product or service available for use or consumption? a. Distribution channel b. Supply chain c. Retail network d. Marketing channel Answer: b Which stage in the product life cycle is characterized by a slow increase in sales and the need for heavy promotions to create awareness? a. Introduction b. Growth c. Maturity d. Decline Answer: a In marketing, what is the term for the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behavior? a. Market targeting b. Market positioning c. Market segmentation d. Market differentiation Answer: c What is the term for the process of designing and producing the container or wrapper for a product? a. Packaging b. Labeling c. Branding d. Positioning Answer: a In the context of marketing, what does “USP” stand for? a. Universal Sales Promotion b. Unique Selling Proposition c. Ultimate Service Provider d. Unlimited Sales Potential Answer: b Which pricing strategy involves setting a price that covers the cost of production plus a predetermined profit margin? a. Penetration pricing b. Skimming pricing c. Cost-plus pricing d. Discount pricing Answer: c What is the term for a statement that summarizes the key elements of a brand and communicates its unique value to consumers? a. Brand personality b. Brand positioning c. Brand extension d. Brand promise Answer: b In marketing, what does the term “AIDA” represent? a. Attention, Interest, Desire, Action b. Awareness, Interest, Decision, Action c. Analysis, Implementation, Development, Achievement d. Advertising, Investment, Distribution, Analysis Answer: a Which promotional mix element involves activities that encourage customers to make an immediate purchase? a. Advertising b. Personal selling c. Sales promotion d. Public relations Answer: c What is the term for the group of customers toward whom a company directs its marketing efforts? a. Target market b. Niche market c. Mass market d. Segment market Answer: a