Solved MCQs on Market Mangement.

MARKET MANAGEMENT

1) According to the text, a product is

A)everything the customer receives in an exchange.

B)the physical object the customer receives in an exchange.

C)the service that is rendered to a customer.

D)the idea that the customer receives in an exchange.

E)goods and services the customer receives in an exchange.

2) A light bulb can be considered all of the following EXCEPT

A)a consumer product.

B)an business-to-business product.

C)either a consumer product or an industrial product.

D)an industrial product if it is used to light an assembly line in a factory.

E)a consumer product if it is used to light the office of the board of directors.

3) An example of a convenience consumer product is

A)stereo equipment.

                       

B)petrol.

C)a motorcycle.

D)a bicycle.

E)athletic shoes.

4) Sue North called several airlines to compare rates and chose a flight on British Midland as it had a better reputation for service and competitive prices. The airline ticket is an example of which type of product?

A)convenience

B)shopping

C)specialty

D)unsought

5) Products that are relatively inexpensive and are purchased frequently with minimal effort can be classified as ___________ products.

A)shopping

B)convenience

C)industrial

D)specialty

E)unsought

6) Industrial products are

A)purchased for personal consumption.

B)frequently purchased for both their functional aspects and their psychological rewards.

C)traditionally classified according to their characteristics and intended uses.

D)not purchased by nonbusiness organisations.

7) Large tools and machines used in a production process for a considerable length of time are classified as

A)major equipment.

B)accessory equipment.

C)component parts.

D)raw materials.

E)consumable supplies.

8) Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called

A)raw materials.

B)major equipment.

C)accessory equipment.

D)component parts.

E)process materials.

9) Products that are used directly in the production of a final product but are not easily identifiable arecategorised as

A)accessory products.

B)component parts.

C)consumable supplies.

D)assembly components.

E)process materials.

10) Which one of the following is NOT an industrial product?

A)oil to be refined into fuel for homes

B)transistors used as components for portable radios

C)paper, pens, and glue used in bank branch offices

D)a marketing consultant who prepares marketing plans for clients

E)computer software to help people complete personal tax forms

11) Lever Bros. markets a number of different brands of laundry detergents including Radion, Persil Power, Persil Colour and Surf. Each of these specific versions of laundry detergents can be described as:

A)a product item

B)a product line

C)a core product

D)a mix item

12) A brand name is one of the elements of the

A)core product

B)actual product

C)augmented product.

13) Procter & Gamble makes at least eight different detergents This illustrates:

A)product mix width

B)product mix consistency

C)product mix depth

D)market item width

E)product line depth

14) A product item can be best described as a

A)component of a marketing mix.

B)particular type of brand.

C)specific characteristics of a company's product.

D)specific version of a product.

E)unit of the marketing mix.

15) A group of closely related product items that are considered to be a unit because of marketing, technical, or end-use considerations is a product

A)category.

B)dimension.

C)extension.

D)line.

E)mix.

16) The depth of a product mix is measured by the average number of

A)convenience products as compared with the number of specialty products.

B)different product lines offered by the company.

C)different products offered in each product line.

D)specialty products as compared with the number of convenience products.

E)product features that the company offers.

17) Beatrice Company markets such diverse products as Rosarita Mexican foods and Samsonite luggage. These various offerings exhibit Beatrice's product mix

A)width.

B)depth.

C)length.

D)volume.

E)dimension.

18) Aggressive pricing is typical during the __________ stage of the product life cycle.

A)decline

B)growth

C)introduction

D)plateau

E)stabilisation

19) Sales usually start to decline __________ of the product life cycle.

A)at the beginning of the termination stage

B)at the end of the growth stage

C)at the beginning of the decline stage

D)during the maturity stage

20) An ad that stresses "Demand the real Lucas Wine Cooler; accept no substitutes!" is best geared for which stage of the product life cycle?

A)Introduction

B)Growth

C)Maturity

D)Decline