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Marketing Management MCQ With Answers & Explanation

Given below are top 100 Marketing Management MCQ with Answers and explanations. These updated Marketing multiple choice questions are useful for MBA, MMS, BBA, Bcom, Mcom, PGDM, MMM, and MCA students for NET, SET, Ph D university, competitive & entrance exams.

These Marketing Management MCQ questions are equally beneficial for subjects like Basic of Marketing, Principles of Marketing, & Fundamentals of Marketing

Set 1: MCQ On Basics of Marketing

This section covers MCQ on Basics of Marketing.

_____ is the father of Modern Marketing.

A. Abraham Maslow

B. Lester Wunderman

C. Peter Drucker

D. Philip Kotler

View Answer

D. Philip Kotler

Explanation:

Dr Philip Kotler is regarded as the Father of Modern Marketing by many scholars.

Peter F Drucker is known as the father of management. Abraham Maslow is well known for his theory of need hierarchy. Lester Wunderman was an American advertising executive

Marketing is a process which aims at ________

A. Production

B. Profit-making.

C. The satisfaction of customer needs

D. Selling products

View Answe

C. The satisfaction of customer needs

Explanation:

Selling focuses on sale and profit only but marketing has broader goal. Marketing achieves his goal of profit through the customer need satisfaction. In simple words, marketing identifies customer’s or market’s needs. Then, it tries to fulfill i.e. satisfy that needs by offering right combination of products and services.

The term marketing refers to _______

A. Advertising, Sales Promotion, Publicity and Public Relational activities

B. A new product needs ideas, Developments, concepts and improvements.

C. Sales Planning, Strategy and Implementation

D. A philosophy that stresses customer value and satisfaction.

View Answer

D. A philosophy that stresses customer value and satisfaction

Explanation:

Marketing mainly emphasizes on customer value and satisfaction. Marketing includes all other elements mentioned in option A, B & C, but the term mainly deals with customer satisfaction. To satisfy customers, marketer need to offer right combination of benefits and price i.e. value.

In the history of marketing, when did the production period end?

A. In the late 1800s.

B. In the early 1900s.

C. In the 1920s.

D. After the end of the Second World War.

View Answer

C. In the 1920s.

The best Definition of Marketing given by Philip Kotler is _______

A. Marketing is the process by which companies create value for customers & build strong customer relationships in order to capture value from customers in return.

B. Marketing is a societal process by which individuals & groups obtain what they need & want through creating offering & freely exchanging products & services of value with others.

C. Marketing is the activity, set of institutions & processes for creating, communicating, delivering & exchanging offerings that have value for customers, clients, partners & society at large.

D. None of the above

View Answer

A. Marketing is the process by which companies create value for customers & build strong customer relationships in order to capture value from customers in return.

Explanation:

This is an official definition given by Dr Philip Kotler in his marketing books.

Marketing is the activity, set of ___________ & processes for creating, communicating, delivering & exchanging offerings that have value for customers, clients, partners & society.

A. Institutions

B. Organizations

C. Companies

D. Enterprises

View Answer

A. Institutions

Explanation:

As per the official definition by American Marketing Association (AMA), Marketing is the activity, set of institutions & processes for creating, communicating, delivering & exchanging offerings that have value for customers, clients, partners & society.

Here, Institutions is the broader and more precise term as compared to other options.

The key term in the American Marketing Association’s definition of marketing is:

A. Activity

B. Sales

C. Products

D. Value

View Answer

D. Value

The most formal and best definition of marketing is ___________

A. An organizational function and a set of process for creating, communicating and delivering, value to customers and that benefit the organization.

B. Improving the quality of life for consumers by selling them products and services.

C. Marketing is all about Meeting needs profitability i.e. identifying & fulfilling consumer needs.

D. Marketing is an organizational function includes the 4Ps i.e product, place, price and promotion.

View Answer

A. An organizational function and a set of process for creating, communicating and delivering, value to customers and that benefit the organization.

Explanation:

This definition of marketing is one of the most comprehensive definitions of Marketing. This definition covers 4Ps i.e. four important elements & aspects of marketing.

  • Product (Creating)
  • Promotion (Communicating)
  • Place or Distribution mix (Delivering)
  • Price (Value & Benefits)

Marketing is _______, there is a constant tension between the formulated side of marketing and the management side.

A. An art

B. A Science

C. Both an “art” and a “science”

D. Selling

View Answer

C. Both an “art” and a “science”

Today, marketing must be understood in a new sense that can be characterized as _________

A. Get there first with the most.

B. Management of youth demand.

C. Satisfying customer needs.

D. Telling and selling.

View Answer

C. Satisfying customer needs

Explanation:

Marketing is much broader than just selling, read this article for further details Why selling is merely a tip of the Iceberg called Marketing

Next Page: MCQ On Principles Of Marketing

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