1. Labeling, packaging are associated with:
A. Price mix
B. Product mix
C. Place mix
D. Promotion mix
2 set(s) the floor for the price that the company can charge for its product.
A. Supply
B. Demand
C. Costs
D. Nonprofit factors
3. Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and_ .
A. Market-level pricing
B. Market-competitive pricing
C. Market-skimming pricing
D. Market-price lining
4. The stage of the PLC characterized by overcapacity, greater competition, and the eventual elimination of weaker competitors is called the:
A. Decline stage.
B. Introduction stage.
C. Growth stage.
D. Maturity Stage.
5. Which of the following is not a type of decision usually made during the product development stage?
A. Branding
B. Product positioning
C. Packaging Product
D. screening
6 Original products, product improvements, product modifications, and new brands that a firm develops through its own research and development efforts are called:
A. New products.
B. Concept products.
C. Altered products.
D. Supplemental products.
7 Which of the following is NOT a price adjustment strategy? Segmented pricing
A. Promotional pricing
B. Free samples
C. Geographical
D. Pricing
8 is a period of market acceptance and increasing profits.
A. Product development
B. Maturity
C. Growth
D. Introduction
9 begins when the company finds and develops a new-product idea. During product
development, sales are zero and the company's investment costs amount.
A. Introduction
B. Growth
C. Maturity
D. Product development
10 Technological advances, shifts in consumer tastes, and increased competition, all of which reduce demand for a product, are typical of which stage in thePLC?
A. Decline stage
B. Introduction stage
C. Growth stage
D. None of these
11 A “penetration pricing‟ strategy will set an initially high price to “cream off” as much revenue as possible from the early purchasers
A. True
B. False
12 Original products, product improvements, product modifications, and new brands that a firm develops through its own research and development efforts are called:
A. New Products.
B. Concept products.
C. Altered products.
D. Supplemental products.
13 The stage in the product life cycle that focuses on using a cost-plus formula and creating product awareness and trial is the:
A. Decline stage.
B. Introduction stage.
C. Growth stage.
D. Maturity stage.
14 One of the challenges presented by the product life cycle for a product is that of new- product development.
A. True
B. False
15 In terms of the PLC, the growth stage is a period of rapid market acceptance and increasing profits.
A. True
B. False
16 Packaging is all the activities of designing and producing the container for a product.
A. True
B. False
17 Packaging has been called the fifth “P” by marketers because it can be an element of product strategy.
A. True
B. False
18 involves designing and producing the container or wrapper for a product.
A. Packaging
B. Product line
C. Service
D. Branding
19 Like New Products wants to improve its packaging after reading customer responses to its customer opinion poll. Which is not a function of packaging?
A. Its purpose is to contain and protect the product.
B. It contains the brand mark.
C. It protects children.
D. It determines product quality.
20 At the very least, the identifies the product or brand. It might also describe several things about the product.
A. line extension
B. social marketing
C. label
D. specialty product
21 What elements constitute a brand?
A. Name, design, style, words or symbols, singly or collectively that distinguish one product from another.
B. Design, style, or symbols, singly or collectively that distinguish one product from another.
C. Name, design, style, words or symbols that distinguish one product from another.
D. Name, words or symbols, singly or collectively that distinguish one product from another.
22 At the introduction stage of the Product Life Cycle (PLC), which of the following are the marketer’s two main priorities?
A. Launch planning and creating shelf space.
B. Generating awareness and stimulating responses.
C. Launch planning and generating awareness.
D. Creating shelf space and generating awareness.
23 pricing is the approach of setting a low initial price in order to attract a large number of buyers
quickly and win a large market share.
A. Market-skimming
B. Value-based
C. Market-penetration
D. Leader
24 Low-interest financing and longer warranties are both examples of .
A. Allowances
B. Promotional pricing
C. Discounts
D. Segmented Pricing
25. While costs set the lower limit of prices, and set the upper limit.
A. Price and value
B. Interest rates and inflation
C. Market and demand
D. Supply and demand
26. Price is a major factor affecting buyer choice that goes by many names, such as……………..
A. Assessments, commissions, dues and fees
B. Rent, salaries, tuition and wages
C. Honoraria, interest, income taxes and premium
D. All of the above
27. Which of the following is not one of the general pricing approaches?
A. Competition-based Cost-based
B. Relationship pricing
C. Penetration pricing
D. Value-based
28 costs does not vary with production levels or sales levels.
A. Total
B. Variable
C. Fixed
D. All of the above
E. None of the above
29. The objective of price can be:
A. Profit
B. Market share
C. Cash Flow
D. All the above
E. None of the above
30. Differentiation in pricing for various geographical customers is
A. Prices mimicking
B. Psychological pricing
C. Pricing variations
D. Geographical pricing
31. The pricing techniques used by sellers while selling individual product bundles is
a. Optional feature pricing
b. Pure bundling pricing
c. Mixed bundling pricing
d. Pure bundling pricing
32. Which of the following is not a type of decision usually made during the product development stage?
A. Branding
B. Product positioning
C. Packaging
D. Product screening
33. The stage of the PLC characterized by overcapacity, greater competition, and the eventual elimination of weaker competitors is called the:
A. Decline stage.
B. Introduction stage.
C. Growth stage.
D. Maturity stage.
34. Product planners need to think about products and services on three levels. Each level adds more customer value. Which one of the following is the most basic level that addresses the question, “What is the buyer really buying?”
A. Actual product
B. Augmented product
C. Core benefit
D. Co-branding
35. The mental act, condition or habit of placing trust or confidence in another shows which of the following options?
A. Motive
B. Belief
C. Behavior
D. Attitude
36. Marketing is defined by the American Marketing Association as the activity, set of institutions, and processes for , , , and offerings that have value for customers, clients, partners, and society at large.
A. Making, Arranging, Maintaining and Selling
B. Creating, Communicating, Delivering, and Exchanging
C. Creating, Advertising, Selling, and Transferring
D. Performing, Displaying, Offering, and Exchanging ANSWER: B
37. The term 'marketing mix' describes:
A. a composite analysis of all environmental factors inside and outside the firm.
B. a series of business decisions that aid in selling a product.
C. the relationship between a firm's marketing strengths and its business weaknesses.
D. a blending of strategic elements to satisfy specific target markets. ANSWER: D
38. Product planners must design the actual product and find ways to it in order to create the bundle of benefits that will provide the most satisfying customer experience.
A. promote
B. package
C. brand
D. augment
39. The major product line decision involves .
A. line stretching
B. moving the line upward or downward
C. product line filling
D. product line length
40. means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.
A. Service inseparability
B. Service variability
C. Service intangibility
D. Service perishability
41. Consider the following statements about National Pharmaceutical Pricing Authority (NPPA):
a. NPPA comes under Union Ministry of Chemicals and Fertilizers 2. NPPA enforce prices and availability of the medicines under the Drugs )Prices Control( Order, 1995/2013 Select the correct answer using the code given below:
A. 1 only
B. 2 only
C. Both 1 and 2
D. Neither 1 nor 2
42. DPCO comes under:
A. Essential commodity act
B. Pharmacy Act
C. Narcotic act
D. None of these
43. Pharmaceutical pricing guideline and directions issued by:
A. DPCO
B. NPPA
C. CDSCO
D. None of these
44. OTC stands for:
A. Oral therapeutic center
B. Oral therapeutic category
C. Over the counter
D. Over therapeutic class
45. Marketing segments should be:
A. Measureable
B. Accessible
C. Both A and B
D. None of these
46. What elements constitute a brand?
A. Name, design, style, words or symbols, singly or collectively that distinguish one product from another.
B. Design, style, or symbols, singly or collectively that distinguish one product from another.
C. Name, design, style, words or symbols that distinguish one product from another.
D. Name, words or symbols, singly or collectively that distinguish one product from another.
47. In the growth stage of a product life cycle which of the following statements are applicable? 1. There is a rapid increase in sales. 2. Effects of repeat purchasing are seen. 3. Increased competitor activity is found. 4. Profits begin to rise. 5. Good product management is required. Correct Options are A. 1,2,3,4
B. 1,3,4,5,
C. 1,2,3,4,5,
D. 1,2,3,5,
48. Starting with one or two areas and then adding new regions to the distribution area is called:
A. Rolling launch.
B. Sprinkler strategy.
C. Test marketing.
D. None of these
49. Adding new features to a product is advocated by which of the approaches?
A. Product Approach
B. Production Approach
C. Marketing Approach
D. Selling Approach
50. One of the key tasks of marketers is and to create consumer perceptions that the product is worth purchasing.
A. To make products easily visible and available
B. To promote sales of products
C. To differentiate their products from those of competitors
D. To do marketing surveys
51. markets are made up of members of the distribution chain.
A. Consumer
B. Business-to-business industrial
C. Channel
D. Institutional ANS
52. The four unique elements to services include:
A. Independence, intangibility, inventory, and inception
B. Independence, increase, inventory, and intangibility
C. Intangibility, inconsistency, inseparability, and inventory
D. Intangibility, independence, inseparability, and inventory
53. The holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer’s and the society’s well-being.
A. customer-centered business
B. focused business model
C. societal marketing concept
D. ethically responsible marketing
54. portrays the “whole person” interacting with his or her environment.
A. Attitude
B. Reference group
C. Lifestyle
D. Culture/Subculture
55. Product planners need to think about products and services on three levels. Each level adds more customer value. Which one of the following is the most basic level that addresses the question, “What is the buyer really buying?”
A. Actual product
B. Augmented product
C. Core benefit
D. Co-branding
56. In order for exchange to occur:
A. a complex societal system must be involved.
B. organized marketing activities must also occur.
C. a profit-oriented organization must be involved.
D. each party must have something of value to the other party.
57. The term 'marketing mix' describes:
A. a composite analysis of all environmental factors inside and outside the firm.
B. a series of business decisions that aid in selling a product.
C. the relationship between a firm's marketing strengths and its business weaknesses.
D. a blending of strategic elements to satisfy specific target markets.
58. Newsletters, catalogues, and invitations to organisation-sponsored events are most closely associated with the marketing mix activity of:
A. Pricing
B. Distribution
C. Product development
D. Promotion
59. In assessing which new features to add to a product, a company must weigh each feature's
to customers versus it’s to the company.
A. cost; line extension
B. cost; service
C. value; cost
D. service; line extension
60. is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges.
A. product line
B. line extension
C. private brand
D. convenience product
Question Answer Question Answer Question Answer Question Answer Question Answer Question Answer
1 B 11 B 21 A 31 C 41 C 51 C
2 C 12 A 22 B 32 A 42 A 52 C
3 C 13 B 23 C 33 D 43 B 53 C
4 D 14 A 24 B 34 C 44 C 54 C
5 A 15 A 25 C 35 D 45 C 55 C
6 A 16 A 26 D 36 B 46 A 56 D
7 B 17 A 27 C 37 D 47 C 57 D
8 C 18 A 28 C 38 D 48 A 58 D
9 D 19 D 29 D 39 D 49 A 59 C
10 A 20 C 30 D 40 C 50 C 60 A