Set 2: MCQ On Principles Of Marketing
Select an appropriate definition of ‘Want’.
A. More consumer Needs
B. Needs backed by buying power
C. Needs directed to the product
D. Basic human requirements
View Answer
C. Needs directed to the product
_______ is the act of obtaining a desired object from someone by offering something in return.
A. Marketing Myopia
B. Selling
C. Exchange
D. Delivery
View Answer
C. Exchange
Want for a specific product backed by an ability to pay is called _____
A. Demand
B. Need
C. Want
D. Customer
View Answer
A. Demand
Explanation:
Need is all about basic requirements whereas want is about a specific need. When a customer has the ability to pay for his want, that becomes a demand. For example, Krish wants a BMW car of Rs. 1 Crore and he is able to pay for that, then his want becomes a demand. Now he can buy that car. So, he can create demand.
Marketers often use the term ________ to cover various groupings of customers.
A. Buying power
B. Demographic segment
C. Market
D. People
View Answer
C. Market
Good marketing is no accident but a result of careful planning and _____.
A. Promotion
B. Selling
C. Policies
D. Execution
View Answer
D. Execution
______is the best illustration of a subculture.
A. Occupation
B. Income
C. Religion
D. Family & Friends
View Answer
C. Religion
______ are the form of human needs take as shaped by culture & individual personality.
A. Wants
B. Demands
C. Needs
D. Social Needs
View Answer
D. Social Needs
Explanation: Social needs means needs of society. Almost all social needs are influenced and shaped by culture, traditions and personality traits.
A place where goods are bought and sold against the price consideration between the buyers and the sellers is called ______.
A. Exchange
B. Market
C. E-commerce
D. Transaction
View Answer
B. Market
Explanation:
Market is a physical or virtual place where sellers meet buyers for transaction purpose. Market is an open area where shops, malls and other trading centers exists.
Market generally involves at least two parties, one is seller and second is buyer. When trade activity is done using electronic medium for example mobile, internet, laptop etc. is known as electronic commerce i.e E-commerce.
_______ Involves transfer of ownership of the goods.
A. Selling
B. Assembling
C. Buying
D. Assembling & Buying
View Answer
A. Selling
________ is not a type of Marketing Concept.
A. The production concept
B. The selling concept
C. The societal marketing concept
D. The Supplier Concept
View Answer
D. The Supplier Concept