Basics of Marketing

Basics of Marketing

Welcome to the quiz dear students!

Multiple Choice

________________ are wants for specific products backed by an ability to pay.

• Demands

• needs

• requirements

• necessities

Multiple Choice

___________________ is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market.

• Marketing Mix

• Product mix

• Promotion mix

• Marketing Communication mix

Multiple Choice

The Production concept holds that consumers will prefer products that are widely available and inexpensive.

• True

• False

Multiple Choice

The product concept cannot lead to marketing myopia.

• True

• False

Multiple Choice

The new SEC system is used to classify households in India. It’s based on two variables:

• Occupation of chief earner

• Number of “consumer durables” ( from a predefined list)- owned by the family.

• True

• False

Multiple Choice

A _____________________ consists of a large identifiable group within a market, with similar

wants, purchasing power, geographical location, buying attitudes, or buying habits.

• market segment

• upper class segment

• geographical segment

• middle class segment

Multiple Choice

A niche is a more narrowly defined group, typically a small market whose needs are not

being well served.

• True

• False

Multiple Choice

In demographic segmentation, generation is not a variable on the basis of which the market can be segmented.

• True

• False

Multiple Choice

Market specialization is one pattern of target market selection.

• True

• False

Open Ended

Bases for segmenting consumer markets:

1.___________________________

2.___________________________

3.___________________________

4.___________________________

Open Ended

Bases for segmenting industrial markets:

1.________________

2.________________

3.________________

4.________________

5.________________

Open Ended

5 levels of a product are:

______________________

._____________________

______________________

______________________

______________________

Multiple Choice

There are 7 levels in the product hierarchy.

• True

• False

Open Ended

The 4 Cs of Marketing corresponding to 4 Ps of Marketing are:

1._____________________________

2._____________________________

3._____________________________

4._____________________________

Open Ended

4 levels of competition are:

1.________________________________________

2.________________________________________

3.________________________________________

4.________________________________________

Multiple Choice

Value is the ratio between what the customer gets and what he gives.

• True

• False

Multiple Choice

An experience offered by a marketer is not a product.

• True

• False

Multiple Choice

Marketspace is physical, Marketplace is digital.

• True

• False

Multiple Choice

A market consists of a collection of _________________________________.

• sellers

• distributors

• buyers

• suppliers