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Marketing Management MCQ With Answers & Explanation

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

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