MCQ

Customer excellence focuses on:

Question 1 options:

	Retaining customers and providing excellent customer service
	Efficient operations and excellent supply chain and human resource management.
	Having a good physical location and Internet presence.
	Having products with high perceived value and effective branding and positioning.

Question 2 (1 point)

Amazon.ca and eBay have built their entire promotional approach around ________.

Question 2 options:

	sales promotion
	direct marketing
	personal selling
	mass marketing

Question 3 (1 point)

Sales promotions in the form of discounts are used for:

Question 3 options:

	Brand building
	Boosting sales volume permanently
	Price fixing
	Increasing sales in the short run

Question 4 (1 point)

Focus groups are best used for

Question 4 options:

	Defining product concepts and new ideas
	Identifying consumer likes and dislikes
	Comparing consumer preferences on your vs competitor's products

Question 5 (1 point)

When a company identifies the parts of the market it can serve best and most profitably, it is practicing ________.

Question 5 options:

	segmenting
	market targeting
	concentrated marketing
	differentiation

Question 6 (1 point)

If demand is inelastic, firms can increase their profits by:

Question 6 options:

	Selling more quantity
	Increasing the price
	Reducing variable costs
	Reducing the price

Question 7 (1 point)

All of the following are forms of vertical marketing systems EXCEPT:

Question 7 options:

	Franchise
	Contractual
	Corporate
	Administered

Question 8 (1 point)

Which of the following best describes positioning?

Question 8 options:

	evaluating and identifying a meaningful group of customers to serve
	a promise to a group of customers
	dividing the market into smaller, meaningful groups of customers
	identifying a clear and distinct place in the customer's mind that the brand or company should occupy relative to the competition

Question 9 (1 point)

Fashion products may segment the market based on which of the following?

Question 9 options:

	Loyalty status
	Lifestyles
	Household income
	Usage rates

Question 10 (1 point)

An attractive market segment is one with

Question 10 options:

	Relatively small population
	Powerful buyers
	Many substitute products
	Less competitors

Question 11 (1 point)

As far as B2B marketing is concerned, in what type of buying situation is the decision likely to be the most involved?

Question 11 options:

	Modified rebuy
	Straight rebuy
	Internet purchase
	New buy

Question 12 (1 point)

Exaggerating product benefits is

Question 12 options:

	Not an ethical issue
	Does not increase consumer expectations
	Common in advertising
	An ethical issue

Question 13 (1 point)

________ calls for meeting the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Question 13 options:

	Innovation
	Global marketing
	Sustainable marketing
	The strategic planning concept

Question 14 (1 point)

Who are innovators in the adoption cycle of a new product?

Question 14 options:

	Persons who introduced the new product to the market
	People who make the product successful
	First users of the product
	People who are risk takers

Question 15 (1 point)

Which one of the following strategies does Sony use to sell their products:

Question 15 options:

	Direct distribution
	Indirect distribution using distributors
	Multichannel distribution
	Vertical distribution

Question 16 (1 point)

What is brand equity?

Question 16 options:

	A perception about the brand in the minds of the consumers
	Financial value attributed to a brand
	Premiums that a brand gives out to consumers
	Shares of the company that owns the brand

Question 17 (1 point)

Which one of the following is NOR public relations tool?

Question 17 options:

	Special events
	Advertorials
	Lobbying
	Airing commercials on TV

Question 18 (1 point)

If the cost of a product is $200 and the required margin is 10%, the selling price is:

Question 18 options:

	$225
	$220
	$210
	$222

Question 19 (1 point)

Brand meaning is

Question 19 options:

	Consumers associating the brand with one word/phrase
	What the brand means to its marketers
	Associated with brand ambassadors
	A marketing technique

Question 20 (1 point)

What are private label brands?

Question 20 options:

	Brands owned by large retailers
	None of the above
	Cheap sub-brands of a major brand
	Labels owned by brand ambassadors

Question 21 (1 point)

Firms, like Apple, who want to be pioneers in new product introduction/development rely more extensively on:

Question 21 options:

	Extensive test marketing
	Scanning the market for ideas
	R & D efforts

Question 22 (1 point)

Quantitative research is :

Question 22 options:

	About quantifying data collected
	Conducting consumer research by asking questions and recording answers from certain users of the product
	Not preferred by the companies
	Conducting consumer research by asking questions and recording answers from a representative sample of consumers.

Question 23 (1 point)

Media for an advertising campaign is selected based on

Question 23 options:

	Reach, frequency, impact and cost
	Cost only
	Online advertising is the best
	Reach only

Question 24 (1 point)

Assume the total Canadian market for cakes is $10 billion and chocolate cakes account for 25% of it. Total market for cakes in Toronto is 20% of the total Canadian market. ABC Company plans to open a cake business in Toronto and estimates it market share for the first year will be 2%. What will be ABC's sales revenue in year 1?

Question 24 options:

	10 million
	50 million
	40 million
	12 million

Question 25 (1 point)

Brand extensions are sometimes avoided because

Question 25 options:

	They can lead to consumer confusion
	They make marketing management difficult
	They do not add value to the old product category
	They are more risky than introducing new brands

Question 26 (1 point)

Loss leader pricing is done by retailers to:

Question 26 options:

	Wage a price war with competitors
	Encourage purchases of the aggressively priced item
	Gain market share
	Entice customers into the store by aggressively pricing a popular item

Question 27 (1 point)

Which one of the following is not a strategy to extend the product's life cycle?

Question 27 options:

	Let the market mature
	Develop new uses
	Find new users
	Reposition the product

Question 28 (1 point)

The government has enacted laws that promote fair trade by prohibiting which one of the following?

Question 28 options:

	Excessive foreign imports
	The formation of monopolies
	The formation of foreign corporations
	Price gouging

Question 29 (1 point)

If a product type or commodity is identified by a brand name, the marketers have created :

Question 29 options:

	A very strong brand
	The commodity category is used very often
	Consumers do not have a name for the commodity
	A weak brand

Question 30 (1 point)

What can a firm generate to enable it to decide whether to introduce the product or not after premarket testing?

Question 30 options:

	Sales estimate
	Marketing Plan
	Loyal customer base
	Competitor report

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