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.
5. While preparing the product mix, it is important to communicate the core benefit of the product to the consumer. (True /False)
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.
10. What adds the value of time and place utility in the supply chain?
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 ___
13. Consumer Goods are meant for final consumption by consumers and not for sale. (True /False)
14. Product planning starts with the creation of product ___.
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
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)
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.
22. When ___ starts declining, buyers go for a newer and better product.
23. ___ is the first stage in the life of a product.
24. A ___ is the symbol of the brand represented as a picture.
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)
26. The brand name and logo should be chosen so that they cannot be registered and protected legally. (True /False)
27. In an ___ brand type, there is no relationship between the brands of a company, as each brand is promoted differently and independently.
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?
Answer: b) Price
39. In ___ period, the prices are reduced to a sizeable extent to maintain the level of turnover.
40. The price policy must be flexible, and not ___.
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 ___.
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?
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.
47. The first step in determining the price of a new product is to estimate the ___ for the product.
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.
49. Which of the following is not the objective of pricing?
a) R O I
b) Market share
c) Prevention of competition
Answer: d) Profiteering
50. While fixing the price, the price of similar products, produced by other firms, will have to be considered. (True / False)
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)
54. If ABC Ltd. is considered financially strong, then it comes under ___ characteristics.
Answer: b) Company
55. ___ goods must be placed in the hands of the consumers as quickly as possible, and so, they require direct selling.
56. When economic conditions are depressed, ___ channels of distribution are preferable.
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 ___.
61. ___ is the function of informing, persuading, and influencing the consumers to purchase the product of the seller.
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.
65. Advertising is the connecting link between the manufacturer and the ___.
66. ___ reduces salesman’s jobs.
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 ___.
69. ___ involves face-to-face communication.
Answer: Personal selling
70. The traditional name for personal selling is ___.
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.
73. Publicity is ___ communication.
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.
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.
77. Integrated marketing communication mix is the same as ___.
Answer: Integrated Promotion mix
78. ___ is a broad statement of some desired endpoint.
79. The personality or image created for the company is called its ___.
80. ___ is the brand name of the company which has been registered under the Trade Marks Act.
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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