Marketing Management

31. ______________ is a critical success factors of products at project level which is indicated by a differentiated product with unique customer benefits.

  1. Solid up front homework
  2. High quality marketing activities
  3. Sharp early product definition
  4. Product superiority
Correct answer: (D)
Product superiority

32. Which of the following represents the correct sequence of tasks for building a brand (from left to right)?

  1. Developing marketing programs, Leverage of secondary associations, Choosing brand elements
  2. Choosing brand elements, Developing marketing programs, Leverage of secondary associations
  3. Choosing brand elements, Leverage of secondary associations, Developing marketing programs
  4. Leverage of secondary associations, Choosing brand elements, Developing marketing programs
Correct answer: (B)
Choosing brand elements, Developing marketing programs, Leverage of secondary associations

33. Company A fixes its marketing communication budget by observing the budget set by Company B. This is an example of establishing budget by:

  1. Affordable method
  2. Percentage of sales method
  3. Competitive parity method
  4. Objective and task method
Correct answer: (C)
Competitive parity method

34. Marketing channel that involves no intermediaries to made their products available to final buyers is classified as

  1. Direct channel
  2. Indirect channel
  3. Static channel
  4. Flexible channel
Correct answer: (A)
Direct channel

35. Typically profit is negative in which stage of the product life cycle?

  1. Growth
  2. Maturity
  3. Introduction
  4. Decline
Correct answer: (C)
Introduction

36. The Economic Order Quantity (EOQ) represents the order quantity for which:

  1. Inventory carrying cost per unit is lowest
  2. Order processing cost per unit is lowest
  3. Total inventory and order cost per unit is lowest
  4. None of these
Correct answer: (C)
Total inventory and order cost per unit is lowest

37. Which of the following statement is true regarding break-even point:

  1. The profit at break-even point is 0
  2. Total revenue is more than total cost at break-even point
  3. Total cost is more than total profit at break-even point
  4. None of these
Correct answer: (A)
The profit at break-even point is 0

38. Cost of setting up a warehouse is considered as ______________ cost and cost of overtime paid to workers is considered as a ______________ cost.

  1. Fixed, fixed
  2. Variable, fixed
  3. Fixed, variable
  4. Variable, Variable
Correct answer: (C)
Fixed, variable

39. Identify the incorrect statement about multiple channels:

  1. Internet banking is an example of low cost channel that is offered by banks
  2. Customers usually use only one channel for all transactions even if multiple channels are offered
  3. Service sensitive customers prefer the full service channels
  4. Economic considerations should not be the only criteria for deciding what combination of channels to be used
Correct answer: (B)
Customers usually use only one channel for all transactions even if multiple channels are offered

40. Segmentation is the process of:

  1. Dividing the market into homogenous groups
  2. Selecting one group of consumers among several other groups
  3. Creating a unique space in the minds of the target consumer
  4. None of these
Correct answer: (A)
Dividing the market into homogenous groups
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