Question No: 1 ( Marks: 1 ) - Please choose one
If XYZ Insurance Company observes a sudden increase in the number of farmers seeking flood insurance in Pakistan due to major floods in India, Which one of the following is representing flood situation for the company?
► Marketing opportunity
► Marketing strategy
► Marketing concept
► Marketing threat
Question No: 2 ( Marks: 1 ) - Please choose one
Konica is aiming its Cool Cam camera at teenagers. Which one of the following is reflecting Teenagers?
► Target audience
► Segmentation
► Target market
► Focus group
Question No: 3 ( Marks: 1 ) - Please choose one
Which one of the following options represents this statement “What place do you want your product to hold in the consumer’s mind”?
► Product
► Positioning
► Promotion
► Place
Question No: 4 ( Marks: 1 ) - Please choose one
An important concept in which we realize that losing a customer means losing more than a single sale. It means losing the entire stream of purchases that the customer would make over a lifetime of patronage. Which one of the following options reflects this concept?
► Net profit
► Customer lifetime value
► Relationship marketing
► Market share
Question No: 5 ( Marks: 1 ) - Please choose one
Gathering secondary information is one of the steps of developing the research plan. What does the meaning of secondary information in marketing research?
► That does not currently exist in an organized form
► That already exists somewhere, having been collected for another purpose
► That the researcher can obtain through surveys and observation
► That already exists somewhere in an organized form
Question No: 6 ( Marks: 1 ) - Please choose one
If ABC Ltd knows that its market share in Pakistan has dropped 13 percent in the first quarter of the year but does not know what might have contributed to this decline, it is in which stage of the marketing research process?
► Hypothesis development
► Symptom identification
► Problem identification
► Data interpretation
Question No: 7 ( Marks: 1 ) - Please choose one
If Unilever needs to survey retailer’s attitudes on the availability of product literature in athletic shoe shops and needs the results within four working days, Unilever will probably use what kind of survey?
► A mail
► A telephone
► Computer interviewing
► A personal interview
Question No: 8 ( Marks: 1 ) - Please choose one
Marketing researchers usually draw conclusions about large groups of consumers by studying which of the following small component of the total consumer population?
► Group
► Sample
► Target group
► Audience
Question No: 9 ( Marks: 1 ) - Please choose one
Which one of the following three-step process represents “Perception”?
► Motivation, personality and attitudes
► Collecting, eliminating and organizing information inputs
► Receiving, organizing and interpreting information inputs
► Anticipating, classifying and discarding information inputs
Question No: 10 ( Marks: 1 ) - Please choose one
Which one of the following is NOT the stage that customers go through in the process of adopting a new product?
► Awareness
► Interest
► Evaluation
► Culture
Question No: 11 ( Marks: 1 ) - Please choose one
Inelastic demand in industrial markets refers to which of the following situation?
► Demand for a given product fluctuates very little over time.
► Price increases or decreases will not significantly alter demand for a given product.
► The demand for one product depends heavily on the demand for another product.
► Supply for a given product cannot keep up with the demand for it.
Question No: 12 ( Marks: 1 ) - Please choose one
Most organizational purchase decisions are made by which of the following categories?
► The sales force
► A team of purchasing agents
► A firm's buying centre
► Inventory control personnel
Question No: 13 ( Marks: 1 ) - Please choose one
In its purchase of a small business computer, Mr. Ateeq asked that potential suppliers provide information only on units with 1Mb of memory. As management evaluates the purchase, it finds that 1Mb is inadequate for many of the software programs they use. In this instance, the firm would need to modify which aspect of the purchase process?
► Searching
► Specification development
► Alternative evaluation
► Performance evaluation
Question No: 14 ( Marks: 1 ) - Please choose one
Buyer- seller similarities is an attribute comes under which one of the following concepts?
► Demographic factors
► Personal characteristics
► Situational factors
► Operating variables
Question No: 15 ( Marks: 1 ) - Please choose one
Which one of the following is a marketer’s major positioning tool that has a direct impact on product or service performance; thus, it is closely linked to customer value and satisfaction?
► Product quality
► Product style
► Product design
► Product features
Question No: 16 ( Marks: 1 ) - Please choose one
Beyond quality level, high quality also can mean high levels of quality consistency. Here, “Freedom from defects and consistency in delivering a targeted level of performance” refers to which of the following qualities?
► Perceived quality
► Product quality
► Adherence quality
► Conformance quality
Question No: 17 ( Marks: 1 ) - Please choose one
Which of the following are a form of product that consists of activities, benefits or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything?
► Line extensions
► Services
► Brands
► Supplements
Question No: 18 ( Marks: 1 ) - Please choose one
Which one of the following attribute may grab attention and produce pleasing aesthetics, but it does not necessarily make the product perform better?
► Design
► Style
► Variable
► Packaging
Question No: 19 ( Marks: 1 ) - Please choose one
New product development starts with which one of the following steps of new product development?
► Idea screening
► Idea generation
► Test marketing
► Concept testing
Question No: 20 ( Marks: 1 ) - Please choose one
What do we call a detailed version of a new idea stated in meaningful customer terms?
► Product idea
► Product concept
► Product image
► Product proposal
Question No: 21 ( Marks: 1 ) - Please choose one
Which one of the following steps calls for testing new-product concepts with groups of target consumers in new product development?
► Concept development
► Concept testing
► Idea generation
► Test marketing
Question No: 22 ( Marks: 1 ) - Please choose one
The consumer decides to make use of the product on a regular basis. Which one of the following concepts BEST describe it?
► Awareness
► Interest
► Trial
► Adoption
uestion No: 23 ( Marks: 1 ) - Please choose one
Which one of the following concept BEST represents the involvement of management and employees in the continuous improvement of the production of goods and services?
► Total quality management
► Marketing management
► Customer relationship management
► Knowledge management
Question No: 24 ( Marks: 1 ) - Please choose one
When a customer pays Rs.1000 and receives a television set in return. What does this example show?
► Exchange
► Transaction
► Market
► Segment
Question No: 25 ( Marks: 1 ) - Please choose one
Fast-food restaurants offer tasty and convenient food at affordable prices; they contribute to fatness that harms consumer health. Which one of the following concepts is NOT being followed by this company?
► Product concept
► Production concept
► Societal marketing concept
► Marketing concept
Question No: 26 ( Marks: 1 ) - Please choose one
"The networks that connect people within a company to each other and to the company" reflect which one of the following networks?
► WAN
► Intranets
► Extranets
► Internets
Question No: 27 ( Marks: 1 ) - Please choose one
“Planning that involves developing a strategy to meet competition and ensure long-term survival and growth” represents which one of the following planning types?
► Long-range planning
► Short-range planning
► Annual planning
► Strategic planning
Question No: 28 ( Marks: 1 ) - Please choose one
The publishers of “The Economist” developed a campaign to market the magazine to university and college students studying business and management courses. The publishers are focusing on which of the following strategies?
► Product development
► Horizontal diversification
► Market development
► Conglomerate diversification
Question No: 29 ( Marks: 1 ) - Please choose one
In Boston Consulting Group approach, which one of the following is a measure of company's strength in the market?
► Relative market share
► Market share
► Business portfolio
► Market growth rate
Question No: 30 ( Marks: 1 ) - Please choose one
One of the contents of formal marketing plan that includes a market description, a product review, a review of competition and a review of distribution is called:
► Threats and opportunity analysis
► Objectives and issues
► Marketing strategy
► Current marketing situation
Question No: 31 ( Marks: 1 ) - Please choose one
The marketing mix consists of the four Ps: product, price, place, and promotion. In the age of connectedness, these tools might be more appropriately named the four Cs: Customer solution, Customer cost, Communication and ___________.
► Customer control
► Convenience
► Consideration
► Customer relationship
Question No: 32 ( Marks: 1 ) - Please choose one
Which one of the following is NOT part of the micro environment?
► Cultural forces
► Financial intermediaries
► Customer markets
► Marketing channel firms
Question No: 33 ( Marks: 1 ) - Please choose one
Finance, research and development, purchasing and manufacturing all are the activities of which element of the micro environment?
► Suppliers
► Retailers
► Companies
► Publics
Question No: 34 ( Marks: 1 ) - Please choose one
Which one of the following forces is NOT the part of company’s macro environment?
► Demographic
► Economic
► Political
► Public
Question No: 35 ( Marks: 1 ) - Please choose one
Marketing Information System consists of people, equipment, and procedures to gather, sort, _____, evaluate, and distribute information to marketing decision makers.
► Analyze
► Arrange
► Test
► Control
Question No: 36 ( Marks: 1 ) - Please choose one
Identify the name of a vast public web of computer networks that connect users of all types all around the world to each other?
► Extranet
► Internet
► LAN
► Intranet
Question No: 37 ( Marks: 1 ) - Please choose one
Mr. ABC has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage to select the good ideas and drop the poor ones. What is another name of idea reducing stage
► Idea generation
► Idea screening
► Product concept
► Concept development
Question No: 38 ( Marks: 1 ) - Please choose one
Which one of the following product requires a lot of advertising, personal selling and other marketing efforts because consumer either does not know about it or knows about it but does not normally think about buying?
► Specialty products
► Shopping products
► Industrial products
► Unsought products
Question No: 39 ( Marks: 1 ) - Please choose one
Business markets can be segmented on the basis of all of the following variables EXCEPT:
► Personal characteristics
► Operating variables
► Selling approaches
► Situational factors
Question No: 40 ( Marks: 1 ) - Please choose one
Markets can be segmented into group of non-users, ex-users, potential users, first-time users and regular users of a product. It refers to which type of segmentation?
► User status
► Usage rate
► Loyalty status
► Seller status
Question No: 41 ( Marks: 10 )
As a marketing manager you are going to launch a new product category (detergent), how will you apply the first three steps of marketing process to launch this product?
Answer: New product launches are crucial to the success of a business; they demand careful planning and flawless execution. Internal communications are vital to the early success of the program, as is the support of senior management, who must commit resources to the project.
While launching a new product we carefully guide the public through these seven important steps that will help them successfully bring their new products and services to market.
1. Study your competition.
Many business marketing classes teach participants how to perform a
SWOT (strengths, weaknesses, opportunities and threats) analysis. You have to start by taking a serious look at your competitors. Make a list of the businesses that offer products or services similar to the one you plan to launch. Even if you think your new product or service is entirely unique and without existing competition, it's important to put yourself in
your prospective customers' shoes and imagine what they might buy in lieu of what you plan to offer. Once you decide whom your competitors will be, review their marketing materials, including their ads, brochures and websites. Evaluate how your new product
or service will stand up against what's already being offered, in what ways you'll excel, and which companies or their offerings pose the greatest threats to your success.
2. Target the ideal customer.
It includes:-
(i) Market segmentation: It is the process of dividing market into distinct groups of buyers with different needs characteristic or behavior.
(ii) Market targeting: It is the process of evaluating each mark segments attractiveness and selecting one or more segments to eater.
(iii) Market positioning: It is arranging for a distinctive and desirable place relative to competing products in the minds of target consumers.
To successfully launch your new product or service with minimum financial outlay, it's essential to focus exclusively on the prospects you believe are most likely to purchase from you. These may be customers who are currently buying something similar and will appreciate the additional features your new product or service provides. Your
best prospects have a perceived need for what you offer, can afford to buy it and have demonstrated a willingness to do so--probably by purchasing from your competition
stand apart from your competition and who will want to take advantage of your offer.
3. DEVELPING THE MARKETING MIX:
Marketing Mix:It is the set of controllable marketing variables that the firm blends to produce the response it wants in the target market.At this stage, you should have a clear understanding of what you must offer in order to take attract the customers.
Besides these three steps there are some more steps in marketing process,Which are equally important in the launching of a new product.
4. Define your marketing strategy and tactics.
5. Test your concept and marketing approach.
6. Roll out your campaign.
7. Know your product's lifecycle.
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