MGT211 Quiz 3 by LGWT

Q1. What role does post-purchase behavior play in marketing?

1. It influences future loyalty and word-of-mouth
2. It affects product design
3. It replaces the need for promotion
4. It determines production volume

Correct answer: It influences future loyalty and word-of-mouth

Q2. What does the “positioning” process aim to do?

1. Create a unique image in consumers’ minds
2. Build distribution channels
3. Determine pricing
4. Launch a new product

Correct answer: Create a unique image in consumers’ minds

Q3. Which pricing model adjusts prices in real-time based on demand?

1. Psychological pricing
2. Bundle pricing
3. Dynamic pricing
4. Skimming

Correct answer: Dynamic pricing

Q4. What is the role of feedback in the production process?

1. Improve efficiency and quality
2. Ensure more labor
3. Increase output
4. Replace machines

Correct answer: Improve efficiency and quality

Q5. If Tesla installs AI robots to improve precision in assembly, which concept is being used?

1. Batch production
2. Industry 4.0
3. Digital marketing
4. Resource planning

Correct answer: Industry 4.0

Q6. What does a smart factory use to optimize processes?

1. Employee judgment
2. Manual tools only
3. Traditional record-keeping
4. Automation, AI, and real-time data

Correct answer: Automation, AI, and real-time data

Q7. A tech firm introduces a basic version of its app for free and charges for premium features. This is:

1. Promotional pricing
2. Psychological pricing
3. Value-based pricing
4. Freemium model

Correct answer: Freemium model

Q8. Why is the augmented product important in marketing?

1. It adds extra value like warranties or services
2. It increases manufacturing costs
3. It focuses on only core features
4. It limits customer interaction

Correct answer: It adds extra value like warranties or services

Q9. Which type of pricing is often used by tech companies launching innovative products?

1. Cost-based pricing
2. Penetration pricing
3. Bundle pricing
4. Price skimming

Correct answer: Price skimming

Q10. How do digital twins help in production?

1. Simulate and improve real-world processes
2. Manage customer service
3. Reduce labor costs only
4. Replace manual work

Correct answer: Simulate and improve real-world processes

Q1. During which stage of the Product Life Cycle is promotion typically heaviest?

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

Correct answer: Introduction

Q2. What does SCM aim to achieve?

1. Isolation of departments
2. Efficient and coordinated delivery of goods and services
3. Reducing customer satisfaction
4. Disconnected supplier networks

Correct answer: Efficient and coordinated delivery of goods and services

Q3. During the growth stage of a product lifecycle, what strategy would a marketer likely adopt?

1. Increase market share through differentiation
2. Reduce marketing to save cost
3. Offer frequent discounts
4. Discontinue the product

Correct answer: Increase market share through differentiation

Q4. The marketing strategy that addresses societal issues along with profit is called:

1. Societal marketing
2. Public relations
3. Environmental marketing
4. Ethical marketing

Correct answer: Societal marketing

Q5. Which type of pricing is often used by tech companies launching innovative products?

1. Cost-based pricing
2. Bundle pricing
3. Price skimming
4. Penetration pricing

Correct answer: Price skimming

Q6. A company moves its factory closer to its raw material supplier. What is this an example of?

1. ERP system upgrade
2. Supply chain outsourcing
3. Strategic location decision
4. Logistics restructuring

Correct answer: Strategic location decision

Q7. Why is “People” important in the 7Ps of marketing?

1. It ensures automation
2. It includes factory workers
3. It impacts service quality
4. It refers to product designers

Correct answer: It impacts service quality

Q8. Which pricing model adjusts prices in real-time based on demand?

1. Bundle pricing
2. Dynamic pricing
3. Skimming
4. Psychological pricing

Correct answer: Dynamic pricing