Marketing Management Multiple Choice Questions and Answers

The marketing management field is constantly evolving and changing.

As a result, it is important to be able to ask and answer questions about marketing management in order to stay up-to-date on the latest trends.

To help you learn how to do just that, we have put together a list of 80 multiple choice questions and answers about marketing management.

Marketing Management Multiple Choice Questions and Answers pdf for the preparation of MBA BBA and other academic and competitive exams 2023


Brief Introduction and Definition of Marketing Management

1. Marketing management is the process and activities involved in creating, implementing, measuring, and managing marketing programs.

2. The objectives of marketing management are to create value for customers by identifying and satisfying their needs.

3. Marketing management includes the coordination of all elements of a company’s marketing strategy, from market research to product development and distribution.

4. The key elements of a successful marketing program are effective communication, targeted promotion, competitive pricing, and quality products/services.

5. Marketing managers must be able to identify customer needs and develop creative solutions that meet those needs while minimizing costs.

6. marketing management helps companies achieve their strategic objectives by integrating all aspects of their business into a cohesive plan that meets the needs of customers everywhere they shop or visit.

Marketing Management Multiple Choice Questions and Answers

There are many different questions and answers related to marketing management, so be sure to do your research and ask around to find the best solution for your business:-

1. The term marketing mix was coined by ___.
Answer: Neil H. Borden

2. ___ categorized the components of the marketing mix into the universally recognized 4 Ps of marketing – Product, price, place, and promotion.
Answer: E. Jerome McCarthy

3. ___ contributed to the mix by adding an additional 3 Ps to the existing mix – People, process, and physical evidence.
Answer: Boom and Bitner

4. ___ normally refers to the goods or services offered by a company that satisfies the needs or wants of a customer.
Answer: Product

5. While preparing the product mix, it is important to communicate the core benefit of the product to the consumer. (True /False)
Answer: True

6. The various types of differentiation-based strategies are ___, ___, and ___.
Answer: Differentiation is based on the product, Differentiation based on distribution, and Differentiation based on the promotion

7. The factors which affect an organization’s environment can be of 2 types:– ___ and ___.
Answer: Controllable factors and uncontrollable factors

8. Preparing the marketing budget involves___, ___, ___, and ___.
Answer: Sales forecasting, budgeting, expenses, and profit planning

9. The examples of marketing information that can be used for control are Information on marketing objectives and goals, Information on actual performance in the market, and Information on threats and opportunities.
(True /False)
Answer: True

10. What adds the value of time and place utility in the supply chain?
Answer: Logistics

11. Product refers to the physical entity offered by the company to its customers, which is a combination of ___ and ___ qualities.
Answer: Tangible and intangible

12. The product may be intangible, in the form of ___
Answer: Services

13. Consumer Goods are meant for final consumption by consumers and not for sale. (True /False)
Answer: True

14. Product planning starts with the creation of product ___.
Answer: Ideas

15. Which of the following is not the source of product ideas?
a) Research and development personnel
b) Marketing personnel
c) Associated companies in other countries
d) Accountants
Answer: d) Accountants

16. ___ is also known as a dual package.
Answer: Re-use package

17. After-sale services refer to various services rendered by a business firm to its customer after the sale of goods is affected. (True /False)
Answer: True

18. The practice of placing several units in one container is known as ___.
Answer: Multiple packaging

19. Which of the following is NOT the strategy of product mix?
a) Expansion of Product mix
b) Contraction of Product mix
c) Alteration of existing products
d) Pricing the product
Answer: d) Pricing

20. A major decision in product policy is related to the managing of ___.
Answer: The product mix

21. In the ___ stage, the sales are at a peak and a further increase is not possible.
Answer: Saturation

22. When ___ starts declining, buyers go for a newer and better product.
Answer: Sales

23. ___ is the first stage in the life of a product.
Answer: Introduction

24. A ___ is the symbol of the brand represented as a picture.
Answer: Logo

25. The brand name or logo should not be used generically or commonly, as this leads to the dilution of the brand value. (True /False)
Answer: True

26. The brand name and logo should be chosen so that they cannot be registered and protected legally. (True /False)
Answer: False

27. In an ___ brand type, there is no relationship between the brands of a company, as each brand is promoted differently and independently.
Answer: Individual

28. ___ denotes the grouping of different products under a single brand.
Answer: Umbrella brand

29. The type of branding used for introducing new products in an existing lineup, is called?
a. Individual brand
b. Umbrella brand
c. Private Label
d. Family brand
Answer: (d) Family brand

30. Branding helps the firm to establish ___, as it aids in repeat sales and creates the market for the product.
Answer: Market control

31. USP stands for ___ and is an important advantage of branding
a. Unique Selling Proposition
b. Unequal Selling Pitch
c. Unidentified Shuttle Position
d. Unmanned Space Probe
Answer: (a) Unique Selling Proposition

32. The cost of advertising and promotions can increase the retail price of products by ___ to ___%
Answer: 20 to 25%

33. The concept that the brand must be positioned in a manner that it occupies a particular space in the consumer’s mind continuously is called ___.
Answer: Renting mind space

34. According to Martin Roll, the three components of brand equity are ___, ___, and ___.
Answer: Customer knowledge, customer preference, and financial potential

35. ___ can be defined as the intrinsic value of the brand, expressed in the value of money that the customer is willing to pay for choosing the brand over its competition.
Answer: Brand equity

36. Expand ROI ___.
Answer: Return on Investment

37. The influencing factors for a price decision can be divided into Internal Factors and ___.
Answer: External factors

38. Which of these determines revenue?
a) Product
b) Price
c) Promotion
d) Salesmanship
Answer: b) Price

39. In ___ period, the prices are reduced to a sizeable extent to maintain the level of turnover.
Answer: Recession

40. The price policy must be flexible, and not ___.
Answer: Rigid

41. The price policy must be framed after taking into account ___.
Answer: Availability of raw materials

42. The price policy must assure a reasonable margin to ___.
Answer: Intermediaries

43. When a business enterprise adopts a price policy that is in accordance with the price policies adopted by its competitors, the price policy is called ___.
Answer: Meeting competition pricing policy

44. In which pricing policy product is priced below the originally fixed price?
Answer: Markdown

45. When one firm in the industry assumes the role of a leader in determining the price, then it is ___ pricing policy.
Answer: Leader pricing

46. ___ is the amount of money paid or payable to acquire a product and its accompanying services.
Answer: Price

47. The first step in determining the price of a new product is to estimate the ___ for the product.
Answer: Demand

48. It may be noted that the market share of the product of the firm should not be fixed beyond the ___ capacity of the firm.
Answer: Production

49. Which of the following is not the objective of pricing?
a) R O I
b) Market share
c) Prevention of competition
d) Profiteering
Answer: d) Profiteering

50. While fixing the price, the price of similar products, produced by other firms, will have to be considered. (True / False)
Answer: True

51. ___ refers to the pathway, path, or route taken by goods as they flow or move from the point of production to the point of consumption or use.
Answer: Channel of distribution

52. Channels of distribution serve as a bridge between them ___ and the final ___ or industrial users.
Answer: Producers; Consumers

53. The channels of distribution help to move the goods from one place to another, and thereby, add place utility to the goods. (True / False)
Answer: True

54. If ABC Ltd. is considered financially strong, then it comes under ___ characteristics.
a) Economic
b) Company
c) Supply
d) Marketing
Answer: b) Company

55. ___ goods must be placed in the hands of the consumers as quickly as possible, and so, they require direct selling.
Answer: Perishable

56. When economic conditions are depressed, ___ channels of distribution are preferable.
Answer: Short

57. Under ___, the manufacturer or producer sells his products directly to the final consumer.
Answer: Direct Selling

58. ___ is, generally, considered suitable for the marketing of perishable commodities.
Answer: Direct selling

59. Under ___ method, the manufacturer or producer sells his goods to the final consumers or industrial users, not directly by himself.
Answer: Indirect selling

60. A wholesaler links the manufacturers with the ___.
Answer: Retailers

61. ___ is the function of informing, persuading, and influencing the consumers to purchase the product of the seller.
Answer: Promotion

62. The visual image of the brand consists of ___, ___, and ___.
Answer: Colors, fonts, and visual elements

63. Define promotion as given by William J. Stanton.
Answer: Promotion includes advertising, personal selling, sales promotion, and other selling tools

64. Advertising is a paid form and hence ___in nature.
Answer: Commercial

65. Advertising is the connecting link between the manufacturer and the ___.
Answer: Consumers

66. ___ reduces salesman’s jobs.
Answer: Advertising

67. ___ activities supplement the promotional efforts of advertising and salesmanship.
Answer: Sales promotion

68. Sales promotion leads to low unit cost, due to large-scale production and large-scale ___.
Answer: Selling

69. ___ involves face-to-face communication.
Answer: Personal selling

70. The traditional name for personal selling is ___.
Answer: Salesmanship

71. Under ___ the manufacturer or producer sells his products directly to the final consumers or industrial users without the help of any middlemen.
Answer: Direct marketing

72. ___ marketing is common in the case of industrial marketing.
Answer: Direct

73. Publicity is ___ communication.
Answer: Informal

74. ___ refers to an effort to create a favorable attitude towards a firm among employees shareholders, suppliers, customers, the government, and the society at large.
Answer: Public relation

75. If a company advertises its products on popular websites, is it online marketing? Yes/No.
Answer: Yes

76. ___ provides space for the company to include not just the product information, but also a whole lot of details that talk about the company’s existence.
Answer: Internet

77. Integrated marketing communication mix is the same as ___.
Answer: Integrated Promotion mix

78. ___ is a broad statement of some desired endpoint.
Answer: Goal

79. The personality or image created for the company is called its ___.
Answer: Brand

80. ___ is the brand name of the company which has been registered under the Trade Marks Act.
Answer: Trademark

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Conclusion Points:

Marketing management is an essential function of any business.

By understanding the concepts and theories behind marketing, business owners can create successful marketing plans that will bring in new customers and increase profits.

There are many different marketing methods available, so business owners should select the ones that will work best for their company.

Additionally, they should continuously evaluate and adjust their marketing plans to ensure that they are effective.

Finally, marketing management requires ongoing effort and vigilance to be successful. Thanks for reading!

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