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FINAL EXAMINATION REVIEWER IN MAR1 -PRINCIPLES AND
METHODS OF MARKETING
Question 1 It is a continuing and interacting structure of people, equipment and procedures to gather, sort, analyze, evaluate and distribute pertinent, timely and accurate information for use by marketing decision makers to improve their marketing planning, execution and control. Select one: a. Marketing Process b. Market Forecasting c. Marketing Information System d. None of the Choices Question 2 In this strategy, the company focuses on only one segment and prepares a marketing mix for the segment Select one: a. Focus Strategy b. Multi-Segment Strategy c. Profit-Oriented Strategy d. Concentration Strategy Question 3 It is the part of the qualified available market that the company decides to pursue Select one: a. Available Market b. Penetrated Market c. Served Market d. Potential Market Question 4 One of the following is not a goal of marketing system Select one: a. Maximizing Choice b. Maximizing Profit Orientation c. Maximizing Consumption d. Maximizing Life Quality Question 5 Which of the following are trade - oriented sales promotions Select one: a. Discounts b. Point of Purchase Display c. Training of Distributors Sales Force d. Cooperative Advertising
Question 6 Which of these statements best describes psychographic segmentation? Select one: a. It divides a market into different groups based on personal interests and opinions, social class or life styles b. Buyers are divided into groups based on their knowledge, attitudes, use or response to a product c. It uses the importance of product benefits to group customers d. The basis for grouping the market is the social characteristics of consumers such as age, gender, civil status etc. Question 7 This distribution strategy is the most common form and is usually associated with shopping goods or services such as appliances and furniture Select one: a. Selective Distribution b. Exclusive Distribution c. Intensive Distribution d. None of the Choices Question 8 All but one are criteria that must be met for a group of people to be considered a market Select one: a. They are willing to spend b. The persons involved have a need for the product c. They are selective in buying products d. They have a purchasing power Question 9 What is a trademark? Select one: a. is the legal name of an organization b. is a name, term, symbol, design or a combination of these to identify a seller's product and differentiate them from the competitor's products c. is a legal designation indicating that only the owner has exclusive use of a brand or a part of the brand d. is that part of a brand which can be spoken, including letters, words and numbers Question 10 The marketing philosophies which guide business organizations include the following:
- Production Concept
- Societal-Marking Concept
- Profit Concept
- Selling Concept Select one: a. 4, 3, 1 b. 1, 2, 3 c. 1, 2, 4 d. 2, 3, 4
Select one: a. 1 only b. Both 1 and 2 c. 2 only d. Neither 1 nor 2 Question 16 In its original meaning, market refers to Select one: a. The buyers and sellers who transact over some goods and services b. The composition of actual and potential buyers of products c. The place where sellers and buyers come together with the intention of exchanging goods and services d. None of the Choices Question 17 What is market targeting? Select one: a. None of the Choices b. It is a process by which marketers divide potential customers into smaller groups seek similar benefits from a market c. It involves evaluating each market segment's attractiveness and selecting one or more segments to enter d. It focuses on only one segment and prepares a marketing mix for the segment Question 18 One of the following is the purpose of screening and evaluation stage in the new products process Select one: a. To develop test, refine and put into market the durable products b. To expose to prospective consumers under realistic purchase conditions to see if they will buy c. To have a quick analysis to eliminate ideas that do not warrant further effort d. To identify markets for which for which new products will be developed Question 19 The purchase decision of consumer is influenced by a number of factors which include Select one: a. Attitude of the people surrounding him b. Unanticipated situational factors c. Both a and b d. Neither a nor b Question 20 "Why do you prefer bar laundry soap to a powdered detergent?" is an example of what type of research approach? Select one: a. Observation b. Survey
c. None of the Choices d. Experimentation Question 21 Coca-cola advertising agency assembles words and illustrations into an advertisement that will convey the intended message. What element of the marketing communication process is this? Select one: a. Encoding b. Feedback c. Decoding d. Media/Channel Question 22 Which of the following refers to advocacy advertisement? Select one: a. It states the position of a company on an issue b. It promotes the advantages of one product class over another c. It is used to bring the company's name to the attention of the target market d. It is used for a new announcement about what a company is, what can do or where it is located Question 23 It is the art of anticipating what buyers are likely to do under a given set of condition Select one: a. Estimating b. Forecasting c. Purchasing d. Forwarding Question 24 For the business man or business firm to stay in business it must strive to maintain or balance between these objectives:
- Satisfying the needs and wants of its customers
- Satisfying the needs of the company for a return on its investment of profit
- Satisfying the needs of society which is affected by the company's activities Select one: a. 1, 2, 3 are incorrect b. 1, 2, 3 are correct c. 1 and 2 are correct but 3 is incorrect d. 2 and 3 are correct but 1 is incorrect Question 25 This is the set of controllable variables and their levels that the firm uses to influence the target market Select one: a. Marketing Mix b. Marketing Strategy
Question 31 A food manufacturer sends several of his people to supermarkets to find out buyers reaction to his products, how many pick up his product, read the label and place it in their cart, how many put back the product after reading it and so on. In this example, what kind of research approach was employed? Select one: a. Observations b. Experimentation c. Surveys d. Interview Question 32 Effective marketing benefits the whole country because Select one: a. Marketing furnishes employment, both in production work and in marketing activities. b. It enhances competition, which in turn improves both the quality and quantity of products and services c. Marketing provides a higher standard of living for its citizens d. All of the Choices Question 33 One of these statements describes a transaction Select one: a. It is made up of actual and potential buyers or consumers b. It consists of a trade of values between two parties c. It is the act of obtaining a desired object from someone by offering something in return d. It is anything that can be offered to a market for consumption Question 34 It refers to a series of interdependent marketing institutions that make easy the transfer of title to a product as it moves from manufacturer to ultimate consumers or industrial users Select one: a. Whole Sailing b. Retailing c. Marketing Channel d. Distribution Question 35 If the data to be used in a research were gathered by the researcher himself, it is said to be as Select one: a. Secondary Data b. External Data c. Internal Data d. Primary Data
Question 36 All but one of the following are steps in personal selling. Select one: a. Approach b. Profiteering c. Presentation d. Prospecting Question 37 This marketing philosophy puts primacy on the production process Select one: a. Marketing Concept b. Production Concept c. Product Concept d. Societal-Marketing Concept Question 38 One of the following defines available market Select one: a. The set of consumers who have already bought the product b. The target market that the company decides to pursue c. The set of consumers who have interest, income and access to a particular market offer d. The set of consumers who profess some level of interest in a defined market offer Question 39 Which of these statements best defines form utility Select one: a. It refers to the shape, style or function of the good or service b. It means having it available when needed c. It means getting the product to consumers so they can use it d. It means having the offering available where consumers need it Question 40 Which of the following describes exchanges? Select one: a. It occurs when a person feels physiologically deprived of basic necessities. b. The act of obtaining a desired object from someone by offering something in return c. They are shaped by person's culture and individual development d. Anything that can be offered to a market for attention and acquisition. Question 41 Which of the following defines fixed cost? Select one: a. Sum of the expenses of the firm that are stable and do not change with the quantity of product that is produced and sold
Question 46 Their purchases are always made through sealed bids Select one: a. Industrial Market b. None of the Choices c. Reseller Market d. Government Market Question 47 In buying a high priced consumer item, the father in a Filipino family usually makes the final decision because he is the Select one: a. Influencer b. Decider c. User d. Initiator Question 48 One of the following is an internal factor considered in pricing Select one: a. Product Cost b. Government Control c. Market Demand d. Economic Condition Question 49 A company manufacturing shoes buy leather, small nails, rubber, rugby and other items to be used in the production of shoes. This refers to which type of organizational market. Select one: a. Reseller Market b. Industrial Market c. Government Market d. Consumer Market Question 50 A marketer wishes to make a 35% return on investment on an invested capital of 2,000,000 Pesos and having a cost base of 20 Pesos per unit with forecasted sales volume of 100,000 units. What is the target profit pricing? Select one: a. 47 pesos b. 57 Pesos c. 48 Pesos d. 58 Pesos
