Amity B.COM 4 Sem For Principles of Marketing

Q.         Read the case study given below and answer the questions given at the end.

Case Study 

Pint sized Purifier

 Water purification (households) market in India is slowly becoming competitive with the introduction of Aquaguard in a big way. Zero-B is another brand which has been in the market for the last few years. It also offers portable models (tumblers). New brands are also entering the market. Aquapen, a pocket sized water purifier was launched in 1997 at a cost of Rs. 594. The product works on a 6V battery and has a LED indicator which flashes every five seconds to indicate the product is operational. The purification process lasts for about 50 seconds. A battery lasts for about 5000 glasses. The company planned to retail the product at around 50,000 outlets and had planned an advertising budget of Rs. 5 crores. 

Assignment – C

1. Which of the following statements is correct?

1. Marketing is the term used to refer only to the sales function within a firm
2. Marketing managers usually don't get involved in production or distribution decisions
3. Marketing is an activity that considers only the needs of the organization, not the needs of society as a whole
4. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

1. The term marketing refers to:

1. New product concepts and improvements
2. Advertising and promotion activities
3. A philosophy that stresses customer value and satisfaction
4. Planning sales campaigns

1. A marketing philosophy summarized by the phrase "a good product will sell itself" is characteristic of the_________ period.

1. Production
2. Sales
3. Marketing
4. Relationship

1. In the relationship marketing firms focus on__________ relationships with__________.
   
   1. Short term; customers and suppliers
   2. Long term; customers and suppliers
   3. Short term; customers
   4. Long term; customers

1. The Coca Cola organization is an official sponsor of the Olympics. The firm is engaging in:

1. Place marketing
2. Event marketing
3. Person marketing
4. Organisation marketing

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1. Which of the following is NOT an element of the marketing mix?  

1. Distribution
2. PRODUCT
3. TARGET MARKET
4. PRICING

1. The term "marketing mix" describes:  
   
   1. A composite analysis of all environmental factors inside and outside the firm
   2. A series of business decisions that aid in selling a product
   3. The relationship between a firm's marketing strengths and its business weaknesses
   4. A blending of four strategic elements to satisfy specific target markets

1. Diversification is best described as which of the following?  

1. Existing products in new markets
2. Existing products in existing markets
3. New products for new markets
4. New products for existing markets

1. Market expansion is usually achieved by:

1. More effective use of distribution
2. More effective use of advertising
3. By cutting prices
4. All of the above are suitable tactics

1. A market with which of the following characteristics would generally be less competitive?  

1. High barriers to entry
2. Lots of potential substitutes exist
3. Strong bargaining power among buyers
4. Strong bargaining power among suppliers

1. Marketing decision makers in a firm must constantly monitor competitors' activities-their products, prices, distribution, and promotional efforts-because  

1. The competitors may be violating the law and can be reported to the authorities
2. The actions of competitors may threaten the monopoly position of the firm in its industry
3. The actions of competitors may create an oligopoly within an industry
4. New product offerings by a competitor with the resulting competitive variations may require adjustments to one or more components of the firm's marketing mix

1. When looking at consumer income, marketers are most interested in

1.  Discretionary income
2. Deferred income
3. Inflationary income
4. Disposable income

1. Today's marketers need---  

1. Neither creativity nor critical thinking skills
2. Both creativity and critical thinking skills
3. Critical thinking skills but not creativity
4. Creativity but not critical thinking skills

1. Political campaigns are generally examples of---

1. Cause marketing
2. Organization marketing
3. Event marketing
4. Person marketing

1. Newsletters, catalogues, and invitations to organization-sponsored events are most closely associated with the marketing mix activity of---  

1. Pricing
2. Distribution
3. Product development
4. Promotion

1. Toyota's Prius and Honda's hybrid Civic are examples of technological products inspired by---

1. Style considerations in the Japanese automobile industry
2. Social pressure to develop more fuel-efficient vehicles with fewer dangerous emissions
3. The desire of many engineers to simply make interesting products
4. The realization that Japanese people didn't need large, high-speed cars

1. _____ is the collection and interpretation of information about forces, events, and relationships that may affect the organization.

1. Environmental scanning
2. Stakeholder analysis
3. Market sampling
4. Opportunity analysis

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1. Assume you are in charge of the politically-mandated process of converting the economy of a developing African nation from state-controlled to market-driven business ventures. Your ability to control_____ will most likely determine the future success of the country and its government.  

1. The culture
2. Marketing
3. Technology
4. Competitive environment

1. Which of the following is typically NOT a result of recognizing the importance of ethnic groups by marketers?

1. Use of an undifferentiated one-size-fits-all marketing strategy
2. Different pricing strategies for different groups
3. Variations in product offerings to suit the wants of a particular group
4. Study of ethnic buying habits to isolate market segments

1. Early adopters of which opinion leaders are largely comprised of and  tend to be---  

1. Generalized; that is, they tend to lead the group on most issues
2. More likely to buy new products before their friends do and voice their opinions about them
3. From the upper class; people from other classes are more likely to be followers
4. Quiet, withdrawn people who don't make fashion statements or take risks easily

1. An imbalance between a consumer's actual and desired state in which recognition that a gap or problem needs resolving is called--  

1. Motive development
2. An attitudes
3. A self-concept
4. Product Evolutions

1. According to Maslow’s Hierarchy of Needs theory, the need for fulfillment, for realizing one's own potential, and for fully using one's talents and capabilities are examples of__________ needs.

1. Self-actualization
2. Physiological
3. Social
4. Esteem

1. Strategic marketing planning establishes the

1. Resource base provided by the firm's strategy
2. Economic impact of additional sales
3. Tactical plans that must be implemented by the entire organization
4. Basis for any marketing strategy

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1. The strategic marketing planning process begins with---

1. The writing of the mission statement
2. The establishment of organizational objectives
3. The formulation of a marketing plan
4. Hiring a senior planner

1. Which of the following is a strategic marketing planning tool?

1. The market share/market growth (BCG) matrix
2. The consumer scanning model
3. A market vulnerability/business opportunity matrix
4. Market sheet analysis

1. These objectives are often employed in mature markets as firms/products enter a decline phase. The goal is to maximize short-term profits and stimulate a positive cash flow.

1. Harvest objectives
2. Divest objectives
3. Hold objectives
4. Growth objectives

1. These objectives are often the most suitable when firms operate in a market dominated by a major competitor and where their financial resources are limited

1. Niche
2. Hold
3. Harvest
4. Divest

1. Market expansion is usually achieved by:  

1. More effective use of distribution
2. More effective use of advertising
3. By cutting prices
4. All of the above are suitable tactics

1. Diversification is best described as which of the following?  

1. Existing products in new markets
2. Existing products in existing markets
3. New products for new markets
4. New products for existing markets

1. When companies make marketing decisions by considering consumers' wants and the long-run interests of the company, consumer, and the general population, they are practicing which of the following principles?  

1. Innovative marketing
2. Consumer-oriented marketing
3. Value marketing
4. Societal marketing

1. The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is called---  

1. Marketing strategy.
2. Marketing control.
3. Marketing analysis
4. Marketing implementation

1. The total number of items that the company carries within its product lines refers to the ___________ of the product mix.

1. Width
2. Depth
3. Length
4. Consistency

1. The use of price points for reference to different levels of quality for a company's related products is typical of which product-mix pricing strategy?  

1. Optional-product pricing
2. Captive-product pricing
3. By-product pricing
4. Product line pricing

1. _______________ is a strategy of using a successful brand name to launch a new or modified product in a new category.  

1. Duo-branding
2. Line extension
3. Brand extension
4. Multi-branding

1. The fact that services cannot be stored for later use or sale is evidence of their---  

1. Ntangibility
2. Inseparability.
3. Variability.
4. Perish ability

1. _________________ is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products.  
   
   1. The promotion mix
   2. Integrated international affairs
   3. Integrated marketing communications
   4. Integrated marketing communications

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1. The stage is the product life cycle that focuses on expanding market and creating product awareness and trial is the:  

1. Decline stage
2. Introduction stage
3. Growth stage.
4. Maturity stage

1. If Honda uses its company name to cover such different products as its automobiles, lawn mowers, and motorcycles, it is practicing which of the following strategies?  

1. New brand strategy
2. Line extension strategy
3. multi-brand strategy
4. Brand extension strategy

1. The _______________ holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency).  

1. Product concept
2. Production concept
3. Production cost expansion concept
4. Marketing concept

1. When producers, wholesalers, and retailers act as a unified system, they comprise a---  

1. Conventional marketing system
2. Power-based marketing system
3. Horizontal marketing system
4. Vertical marketing system.

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