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Relevel BD Round 2 MCQ Set 2

Total questions: 72

Worksheet time: 36mins

Name
Class
Date
1.

In an industry, what is a group of firms following a similar strategy called?

a)

outbound group

b)

strategic group

c)

inbound group

d)

comparative group

2.

According to competitive positions, what is the main focus of market leader strategy?

a)

expand market share

b)

indirect attack

c)

multiple niching

d)

full frontal attack

3.

What is the company’s strategy of nurturing, retaining and growing its customer base called?

a)

True friend

b)

Barnacles

c)

Butterflies

d)

Strangers

4.

In the stages of the adoption process, when does the customer decide to become a regular user?

a)

awareness stage

b)

interest stage

c)

evaluation stage

d)

adoption

5.

In which factor is the segmentation of international markets on the basis of the stability of governments included?

a)

geographic location

b)

cultural factors

c)

economic factors

d)

political and legal factors

6.

What is the type of segmentation done on the basis of regions or areas to live, such as urban, suburban and rural areas ?

a)

geographic segmentation

b)

demographic segmentation

c)

psychographic segmentation

d)

behavioral sepgmentation

7.

What feature(s) must market segments have?

a)

attainable

b)

measureable

c)

accessible

d)

all of above

8.

Name the trait(s) of the adopter group 'laggards'.

a)

deliberate

b)

guided by respect

c)

skeptical

d)

tradition bound

9.

Which of these social class groups earns through exceptional ability?

a)

upper middles

b)

working class

c)

lower uppers

d)

upper uppers

10.

What is 'undifferentiated marketing' also called?

a)

mass marketing

b)

segmented marketing

c)

concentrated marketing

d)

micromarketing

11.

What type of buyers does the market consist of?

a)

Potential buyers

b)

Actual buyers

c)

Both a and b

d)

None of the above

12.

What are the customers of smaller banks considered an example of?

a)

True friend

b)

Strangers

c)

Barnacles

d)

Butterflies

13.

Where must the company and brand positioning be stated?

a)

differentiation

b)

competitive edge statement

c)

positioning statement

d)

points of similarities

14.

What is the kind of strategy used by the company to achieve advertising objectives?

a)

advertising strategy

b)

advertising objective

c)

advertising messages

d)

advertising budget

15.

According to management guru Peter Drucker, is it true that marketing mainly aims to sell?

a)

Necessary

b)

Unnecessary

c)

Not already available

d)

None of above

16.

Which of the following results of innovation are communicated to others?

a)

relative advantage

b)

divisibility

c)

communicability

d)

compatibility

17.

What is a person's own living or interacting and acting pattern called?

a)

lifestyle

b)

personality and self-concept

c)

social class

d)

None of the above

18.

What is the purpose of market offerings?

a)

Create a need or want

b)

Satisfy a need or want

c)

Both a and b

d)

None of above

19.

What is the Swedish furniture giant IKEA’s strategy of targeting the middle-class segment on a global scale an example of?

a)

intermarket segmentation

b)

intramarket segmentation

c)

income segmentation

d)

psychographic segmentation

20.

What is the market segmentation on the basis of continents such as North America, Middle East and Western Europe an example of?

a)

geographic segmentation

b)

demographic segmentation

c)

psychographic segmentation

d)

behavioral segmentation

21.

According to brand personality traits, what does 'sophistication' imply for a brand?

a)

reliable and intelligent

b)

daring and imaginative

c)

cheerful and wholesome

d)

charming and upper class

22.

The ' customer markets’, a company's microenvironment, are of how many types?

a)

5 types

b)

4 types

c)

3 types

d)

2 types

23.

Which social class relies on relatives for assistance in troubled times and for economic support?

a)

upper middles

b)

working class

c)

middle class

d)

upper uppers

24.

To which market are the market offerings from sellers brought for reselling purposes?

a)

business markets

b)

reseller markets

c)

government markets

25.

What do the personal factors include?

a)

online communities

b)

social class

c)

personality and self-concept

d)

roles and status

26.

Which brand personality trait is the well-known brand 'Apple' related to?

a)

ruggedness

b)

competence

c)

sophistication

d)

excitement

27.

Which ads affect the consumer's subconscious minds?

a)

online advertising

b)

subliminal advertising

c)

luminal advertising

d)

both b and c

28.

In the macro environment, which environment are the 'pressure groups' and 'government agencies' parts of?

a)

the cultural environment

b)

the demographic environment

c)

the economic environment

d)

the political environment

29.

What is the aspect in which the experiences of potential customers match with innovation?

a)

relative advantage

b)

divisibility

c)

communicability

d)

compatibility

30.

The 'general publics', a company's microenvironment, consists of whom?

a)

minority groups

b)

stockholders

c)

Community organizations

d)

public image

31.

In which stage of the adoption process for new products does the customer seek information?

a)

awareness stage

b)

interest stage

c)

evaluation and trial stage

d)

all of above

32.

How many types of consumer buying behaviour exist?

a)

Two types

b)

Three types

c)

Four types

d)

Five types

33.

What is the mental process in which a customer ends up as a buyer of a new product?

a)

adoption process

b)

cognitive dissonance

c)

pre purchase behavior

d)

post-purchase behavior

34.

What is the highly involved consumer buying behaviour and the customers' perception of fewer differences among brands?

a)

complex buying behavior

b)

variety seeking buying behavior

c)

dissonance reducing buying behavior

d)

habitual buying behavior

35.

What must cultural factors include?

a)

beliefs and attitudes

b)

social class

c)

occupation

d)

roles and status

36.

In social class grouping, how do you classify the white and blue collar workers with average pay?

a)

upper middles

b)

working class

c)

middle class

d)

upper uppers

37.

What is the happiness level of the customer if product performance exceeds customer expectations?

a)

satisfied

b)

dissatisfied

c)

delighted

d)

none of above

38.

What is the study of the human population in the context of gender, race and occupation called?

a)

the demographic environment

b)

the cultural environment

c)

the economic environment

d)

the natural environment

39.

What is the generation born after 'baby boomers' known as?

a)

generation X

b)

generation Y

c)

Both a and b

d)

none of above

40.

Name the kind of cost that does not vary with the level of production of a company or level of sales.

a)

variable costs

b)

fixed costs

c)

total costs

d)

all of above

41.

What does the macro environment include?

a)

Demographic factors

b)

Technological factors

c)

The suppliers

d)

Both a and b

42.

What is the third step in new product development?

a)

product screening

b)

business screening

c)

systematic screening

d)

concept development and testing

43.

Describe the position/attribute of demand in business markets.

a)

elastic

b)

inelastic

c)

realistic

d)

insignificant

44.

If the variable cost is $40 for and the fixed cost is $20, what is the total cost?

a)

$80

b)

$20

c)

$40

d)

$60

45.

What is the second step of the personal selling process after completion of prospecting and qualifying?

a)

approach

b)

presentation and demonstration

c)

handling objections

d)

pre-approach

46.

What is the process of planning, analyzing, controlling and implementing the activities of the sales force?

a)

indirect sales management

b)

direct sales management

c)

sales force management

d)

persuasion management

47.

As soon as the ideas are shortlisted, what does the best idea lead to the development of?

a)

product concept

b)

production phase

c)

production screening

d)

none of above

48.

What is another name for the field sales force?

a)

inside sales force

b)

outside sales force

c)

channel intermediaries

d)

none of the above

49.

What are the large societal forces that affect major factors in the organization

a)

Microenvironment

b)

Macro environment

c)

Organizations environment

d)

Market environment

50.

If the breakeven volume is 20,000 units and the difference of price and variable cost is $15, what is the fixed cost?

a)

$600,000

b)

$300,000

c)

$400,000

d)

$500,000

51.

What is another name for cost-based pricing strategy?

a)

product driven

b)

customer driven

c)

economy driven

d)

cost driven

52.

What does the horizontal axis in the BCG growth share matrix represent?

a)

Market growth rate

b)

Relative market share

c)

Portfolio analysis

d)

Both b and c

53.

What is the business buying situation in which the buyer reorders again and again on a routine basis?

a)

new task

b)

modified rebuy

c)

straight rebuy

d)

solutions selling

54.

Which tools of sales promotion are used to trigger short-term customer involvement and build customer relationships?

a)

inbound promotion

b)

outbound promotion

c)

organizational promotion

d)

consumer promotions

55.

What is the decrease in the average per unit cost of production caused by the accumulated experience of production?

a)

experience curve

b)

learning curve

c)

costing curve

d)

pricing curve

56.

Classify the customers of products or services in the product life cycle’s introduction stage.

a)

innovators

b)

early adopters

c)

middle majority

d)

laggards

57.

What is the pricing strategy in which the firm determines the price on the basis of a target rate of return on the investment?

a)

target return pricing

b)

markup return pricing

c)

learning pricing

d)

marginal pricing

58.

What is the process of introducing a new product into the market?

a)

commercialization

b)

market testing

c)

free test markets

d)

uncontrolled test markets

59.

What are the millennials also classified as?

a)

generation X

b)

generation Y

c)

baby boomers

d)

both a and b

60.

What firms do the marketing services agencies include?

a)

Marketing consulting firms

b)

Media firms

c)

Marketing research firms

d)

All of above

61.

What is the total cost if the fixed cost is $250000, variable cost is $30 and price is $40?

a)

40000

b)

35000

c)

30000

d)

25000

62.

What are all the individuals and units involved in the purchasing process classified as?

a)

buying center

b)

influencers

c)

deciders

d)

gatekeepers

63.

Which of these are not included in the macro environment?

a)

Technological factors

b)

The marketing intermediaries

c)

Political factors

d)

Both a and c

64.

What do the 'media publics', a company's microenvironment, consist of?

a)

newspapers

b)

blogs

c)

internet media

d)

all of above

65.

Classify the roughly and detailed estimation of market size, product price and development costs.

a)

write-down

b)

write-up

c)

Follow-up screening

d)

follow-up testing

66.

What is the pricing strategy in which the standard markup is added to the cost of market offering?

a)

marginal pricing

b)

cost plus pricing

c)

markup pricing

d)

both b and c

67.

What are the perceptions of the customer about the value of products considered to influence?

a)

floor for cost

b)

ceiling for prices

c)

floor for prices

d)

ceiling for cost

68.

In the business buying process, which group furnishes the information to evaluate alternatives?

a)

user

b)

influencer

c)

decider and gatekeeper

d)

buyer

69.

What does the business buying process start with?

a)

problem recognition

b)

general need description

c)

product specification

d)

supplier search

70.

What is the step of the personal selling process in which the sales person learns about potential buyers before making a call for sale?

a)

pre-approach

b)

sales nomination

c)

qualifying

d)

prospecting

71.

Name the type of firm that operates in more than one country and gains production, marketing and financial advantages that are not available to domestic competitors.

a)

global firm

b)

expanding firm

c)

premium firm

d)

challenger firm

72.

Name the companies that perform narrow targeting in the market.

a)

mass marketing

b)

segmented marketing

c)

niche marketing

d)

micromarketing