The . . . . . . . . concept holds that firms must strive to deliver value to customers in a way that maintains or improves both the consumer's and society's well being.
A. marketing
B. selling
C. societal marketing
D. product
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There are some products that make use of ancillary products so the firm keeps the price of the core product low and generates profits from the sale of ancillary products. Which of the following pricing is it?
A. Two part pricing
B. By-product pricing
C. Captive product pricing
D. Product bundling pricing
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"Marketing concept is the recognition on the part of management that all business decisions of the firm must be made in the light of customer needs and wants, hence that all marketing activities must be under one supervision and that all activities of a firm must be co-ordinated at the top, in the light of market requirements." Who refers it ?
A. Lazo and Carbon
B. Schwartz G.
C. King R.L.
D. C.P. Mc Namara
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The practice of selling below cost, with an intention to destroying the competitor is referred to as
A. loss leader pricing
B. predatory pricing
C. price discrimination
D. penetration pricing
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The promotional tool which is useful during the decline stage of product life cycle is
A. advertising
B. personal selling
C. public relation
D. sales promotion
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Select the correct sequence of steps in setting a pricing policy.
1. Determining demand
2. Analysing competitors' costs, prices and offers
3. Selecting the final price
4. Selecting the pricing objective
5. Estimating costs
6. Selecting a pricing method
A. 4, 1, 5, 2, 6 and 3
B. 1, 5, 2, 4, 6 and 3
C. 1, 2, 5, 4, 6 and 3
D. 1, 2, 3, 4, 5 and 6
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Which of the following consists of broad section of high mark-up, fast moving, brand name goods at discount prices?
A. Hypermarkets
B. Catalog showroom
C. Super store
D. Discount store
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Which of the following is a marketing phenomenon that facilitates and encourages people to pass along a marketing message?
A. Green marketing
B. Social media marketing
C. Internet marketing
D. Viral marketing
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Which is the element of modern marketing?
A. It emphasizes mutuality of benefit
B. It is customer oriented
C. It is operational
D. All of the above
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Which of the following is the physical (brick and mortar) outlet where the customer can visit?
A. Megamarket
B. Metamarket
C. Marketspace
D. Marketplace
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Which of the following are about 35,000 square feet in area which meet consumer's total needs for routinely purchased goods?
A. Catalog showrooms
B. Superstore
C. Supermarket
D. Hypermarkets
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In which of the following phases of PLC, new models of product can be cancelled?
A. Introduction
B. Growth
C. Maturity
D. Decline
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Match the following.
List-I
List-II
a. Shopping goods
1. Toothpaste
b. Unsought goods
2. Luxury cars
c. Speciality goods
3. Gravestones
d. Convenience goods
4. Household appliances
A. a-4, b-3, c-2, d-1
B. a-4, b-2, c-3, d-1
C. a-4, b-3, c-1, d-2
D. a-4, b-2, c-1, d-3
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The most important factor in selecting advertising media is
A. media cost
B. media preference of target audience
C. nature of the product
D. type of message
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Salaries and rents are included under which of the following?
A. Variable cost
B. Fixed cost
C. Average cost
D. Total costs
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Match the following.
List-I
List-II
a. Specialty store
1. Broad section of high mark-up
b. Superstore
2. Narrow product line
c. Catalog showrooms
3. Routinely purchased goods
d. Discount store
4. Lower margins and higher volume
e. Convenience stores
5. Open for seven days a week
A. a-2, b-1, c-3, d-5, e-4
B. a-2, b-3, c-1, d-5, e-4
C. a-2, b-3, c-1, d-4, e-5
D. a-2, b-3, c-4, d-1, e-5
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The following statements relate to the functions of the marketing channel members. Indicate the statements being correct or incorrect.
Statement I Channel members. do not gather information about potential and current customers, competitors and other actors and forces in the marketing environment.
Statement II Channel members acquire the funds to finance inventories at different levels in the marketing channel.
A. Both statements are correct
B. Both statements are incorrect
C. Statement I is correct while Statement II is incorrect
D. Statement I is incorrect while Statement II is correct
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The market process involves, which functions?
1. Buying
2. Transporting
3. Storing
4. Selling
5. Grading
6. Financing
7. Risk-bearing
8. Dividing
A. 1, 3 and 4
B. 1, 2, 3, 6 and 7
C. Only 3
D. All of these
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Which of the following is incorrect about services?
A. Each service is unique in itself
B. They cannot be stored, saved or returned
C. These are generated and consumed in the same time frame
D. It is transferable
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Which of the following statement is true?
A. Distribution channel is a pathway through which products and services flow from producer to consumer
B. Sorting out involv es breaking a heterogeneous supply into separate lots which are relatively homogeneous through grading or inspection
C. Both A and B
D. None of the above
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