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Marketing Management MCQ With Answers & Explanation

Set 5: Marketing Concepts

Most of the MCQ questions in this section are related to marketing management concepts.

After concept testing, a firm would engage in __________ for developing and marketing a new product?

A. Marketing Strategy Development Stage

B. Business Analysis Stage

C. Product Development Stage

D. Test Marketing Stage

Answer

A. Marketing Strategy Development Stage

If the company’s sales are slow down, and profits level off or decline. At which stage the company has reached?

A. Introduction

B. Decline

C. Growth

D. Maturity

Answer

B. Decline

Buying goods and services for further processing or for use in the production process refers to _________

A. Consumer markets

B. Government markets

C. Business markets

D. International markets

Answer

C. Business markets

Which is NOT the stage that customers go through in the process of adopting a new product?

A. Awareness

B. Interest

C. Evaluation

D. Culture

Answer

D. Culture

The mental act, condition or habit of placing trust or confidence in another, shows which of the following options?

A. Motive

B. Belief

C. Behaviour

D. Attitude

Answer

B. Belief

What does this statement show “Trade of value between two parties”?

A. Competition

B. Transaction

C. Exchange

D. Need

Answer

B. Transaction

Which one of the following concepts is a useful philosophy in a situation when the product’s cost is too high and marketers look for ways to bring it down?

A. Selling concept

B. Product concept

C. Production concept

D. Marketing concept

View Answer

C. Production concept

The buying process starts from which one of the following stages in which the buyer recognizes a problem or need

A. Need recognition

B. Information search

C. Evaluation of alternative

D. Purchase decision

View Answer

A. Need recognition

A firm has decided to localize its products and services to meet local market demands. Which one of the following approaches is a good approach for this segmentation?

A. Geographic

B. Demographic

C. Psychographics

D. Behavioural

View Answer

A. Geographic

Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to which of the following options?

A. Customer perceived value

B. Marketing myopia

C. Customer relationship management

D. Customer satisfaction

View Answer

A. Customer perceived value

Which one of the following statements by a company chairman BEST reflects the marketing concept?

A. We have organized our business to satisfy the customer needs

B. We believe that the marketing department must organize to sell what we produce

C. We try to produce only high quality, technically efficient products

D. We try to encourage company growth in the market

View Answer

A. We have organized our business to satisfy the customer needs

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