WorksheetsRelevel BD Round 2 MCQ Set 2
Total questions: 72
Worksheet time: 36mins
In an industry, what is a group of firms following a similar strategy called?
outbound group
strategic group
inbound group
comparative group
According to competitive positions, what is the main focus of market leader strategy?
expand market share
indirect attack
multiple niching
full frontal attack
What is the company’s strategy of nurturing, retaining and growing its customer base called?
True friend
Barnacles
Butterflies
Strangers
In the stages of the adoption process, when does the customer decide to become a regular user?
awareness stage
interest stage
evaluation stage
adoption
In which factor is the segmentation of international markets on the basis of the stability of governments included?
geographic location
cultural factors
economic factors
political and legal factors
What is the type of segmentation done on the basis of regions or areas to live, such as urban, suburban and rural areas ?
geographic segmentation
demographic segmentation
psychographic segmentation
behavioral sepgmentation
What feature(s) must market segments have?
attainable
measureable
accessible
all of above
Name the trait(s) of the adopter group 'laggards'.
deliberate
guided by respect
skeptical
tradition bound
Which of these social class groups earns through exceptional ability?
upper middles
working class
lower uppers
upper uppers
What is 'undifferentiated marketing' also called?
mass marketing
segmented marketing
concentrated marketing
micromarketing
What type of buyers does the market consist of?
Potential buyers
Actual buyers
Both a and b
None of the above
What are the customers of smaller banks considered an example of?
True friend
Strangers
Barnacles
Butterflies
Where must the company and brand positioning be stated?
differentiation
competitive edge statement
positioning statement
points of similarities
What is the kind of strategy used by the company to achieve advertising objectives?
advertising strategy
advertising objective
advertising messages
advertising budget
According to management guru Peter Drucker, is it true that marketing mainly aims to sell?
Necessary
Unnecessary
Not already available
None of above
Which of the following results of innovation are communicated to others?
relative advantage
divisibility
communicability
compatibility
What is a person's own living or interacting and acting pattern called?
lifestyle
personality and self-concept
social class
None of the above
What is the purpose of market offerings?
Create a need or want
Satisfy a need or want
Both a and b
None of above
What is the Swedish furniture giant IKEA’s strategy of targeting the middle-class segment on a global scale an example of?
intermarket segmentation
intramarket segmentation
income segmentation
psychographic segmentation
What is the market segmentation on the basis of continents such as North America, Middle East and Western Europe an example of?
geographic segmentation
demographic segmentation
psychographic segmentation
behavioral segmentation
According to brand personality traits, what does 'sophistication' imply for a brand?
reliable and intelligent
daring and imaginative
cheerful and wholesome
charming and upper class
The ' customer markets’, a company's microenvironment, are of how many types?
5 types
4 types
3 types
2 types
Which social class relies on relatives for assistance in troubled times and for economic support?
upper middles
working class
middle class
upper uppers
To which market are the market offerings from sellers brought for reselling purposes?
business markets
reseller markets
government markets
What do the personal factors include?
online communities
social class
personality and self-concept
roles and status
Which brand personality trait is the well-known brand 'Apple' related to?
ruggedness
competence
sophistication
excitement
Which ads affect the consumer's subconscious minds?
online advertising
subliminal advertising
luminal advertising
both b and c
In the macro environment, which environment are the 'pressure groups' and 'government agencies' parts of?
the cultural environment
the demographic environment
the economic environment
the political environment
What is the aspect in which the experiences of potential customers match with innovation?
relative advantage
divisibility
communicability
compatibility
The 'general publics', a company's microenvironment, consists of whom?
minority groups
stockholders
Community organizations
public image
In which stage of the adoption process for new products does the customer seek information?
awareness stage
interest stage
evaluation and trial stage
all of above
How many types of consumer buying behaviour exist?
Two types
Three types
Four types
Five types
What is the mental process in which a customer ends up as a buyer of a new product?
adoption process
cognitive dissonance
pre purchase behavior
post-purchase behavior
What is the highly involved consumer buying behaviour and the customers' perception of fewer differences among brands?
complex buying behavior
variety seeking buying behavior
dissonance reducing buying behavior
habitual buying behavior
What must cultural factors include?
beliefs and attitudes
social class
occupation
roles and status
In social class grouping, how do you classify the white and blue collar workers with average pay?
upper middles
working class
middle class
upper uppers
What is the happiness level of the customer if product performance exceeds customer expectations?
satisfied
dissatisfied
delighted
none of above
What is the study of the human population in the context of gender, race and occupation called?
the demographic environment
the cultural environment
the economic environment
the natural environment
What is the generation born after 'baby boomers' known as?
generation X
generation Y
Both a and b
none of above
Name the kind of cost that does not vary with the level of production of a company or level of sales.
variable costs
fixed costs
total costs
all of above
What does the macro environment include?
Demographic factors
Technological factors
The suppliers
Both a and b
What is the third step in new product development?
product screening
business screening
systematic screening
concept development and testing
Describe the position/attribute of demand in business markets.
elastic
inelastic
realistic
insignificant
If the variable cost is $40 for and the fixed cost is $20, what is the total cost?
$80
$20
$40
$60
What is the second step of the personal selling process after completion of prospecting and qualifying?
approach
presentation and demonstration
handling objections
pre-approach
What is the process of planning, analyzing, controlling and implementing the activities of the sales force?
indirect sales management
direct sales management
sales force management
persuasion management
As soon as the ideas are shortlisted, what does the best idea lead to the development of?
product concept
production phase
production screening
none of above
What is another name for the field sales force?
inside sales force
outside sales force
channel intermediaries
none of the above
What are the large societal forces that affect major factors in the organization
Microenvironment
Macro environment
Organizations environment
Market environment
If the breakeven volume is 20,000 units and the difference of price and variable cost is $15, what is the fixed cost?
$600,000
$300,000
$400,000
$500,000
What is another name for cost-based pricing strategy?
product driven
customer driven
economy driven
cost driven
What does the horizontal axis in the BCG growth share matrix represent?
Market growth rate
Relative market share
Portfolio analysis
Both b and c
What is the business buying situation in which the buyer reorders again and again on a routine basis?
new task
modified rebuy
straight rebuy
solutions selling
Which tools of sales promotion are used to trigger short-term customer involvement and build customer relationships?
inbound promotion
outbound promotion
organizational promotion
consumer promotions
What is the decrease in the average per unit cost of production caused by the accumulated experience of production?
experience curve
learning curve
costing curve
pricing curve
Classify the customers of products or services in the product life cycle’s introduction stage.
innovators
early adopters
middle majority
laggards
What is the pricing strategy in which the firm determines the price on the basis of a target rate of return on the investment?
target return pricing
markup return pricing
learning pricing
marginal pricing
What is the process of introducing a new product into the market?
commercialization
market testing
free test markets
uncontrolled test markets
What are the millennials also classified as?
generation X
generation Y
baby boomers
both a and b
What firms do the marketing services agencies include?
Marketing consulting firms
Media firms
Marketing research firms
All of above
What is the total cost if the fixed cost is $250000, variable cost is $30 and price is $40?
40000
35000
30000
25000
What are all the individuals and units involved in the purchasing process classified as?
buying center
influencers
deciders
gatekeepers
Which of these are not included in the macro environment?
Technological factors
The marketing intermediaries
Political factors
Both a and c
What do the 'media publics', a company's microenvironment, consist of?
newspapers
blogs
internet media
all of above
Classify the roughly and detailed estimation of market size, product price and development costs.
write-down
write-up
Follow-up screening
follow-up testing
What is the pricing strategy in which the standard markup is added to the cost of market offering?
marginal pricing
cost plus pricing
markup pricing
both b and c
What are the perceptions of the customer about the value of products considered to influence?
floor for cost
ceiling for prices
floor for prices
ceiling for cost
In the business buying process, which group furnishes the information to evaluate alternatives?
user
influencer
decider and gatekeeper
buyer
What does the business buying process start with?
problem recognition
general need description
product specification
supplier search
What is the step of the personal selling process in which the sales person learns about potential buyers before making a call for sale?
pre-approach
sales nomination
qualifying
prospecting
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.
global firm
expanding firm
premium firm
challenger firm
Name the companies that perform narrow targeting in the market.
mass marketing
segmented marketing
niche marketing
micromarketing
