MGT301 Solved MCQs by VU Topper RM

Mgt301 Important Mcq’s For Final Term

Solve By Vu_Toper RM

1. The societal marketing concept call on marketers to balance consumer wants and desires, company profits, and society's interest. True ✔ False
2. Customer value is defined as the customer's evaluation of the perceived difference between all the benefits and all the costs of a marketing offer relative to those of competing offers. True ✔ False
3. Demarketing is a marketing philosophy focused upon product differentiation and positioning True ✔ False
4. Your accounting department must measure revenues and costs to help the marketing department know how well it is achieving its objectives. True ✔ False
5. When sellers focus on existing needs and lose sight of the underlying customer wants, they suffer from marketing myopia. True ✔ False
6. Most firms follow the production concept when they face overcapacity. True False ✔
7. The significant trends in the natural environment include shortages of raw materials and increased pollution True ✔ False
8. When firms take aggressive action to affect the public and forces in their marketing environment, they are taking an environmental management perspective. True ✔ False
9. At times it becomes necessary to reduce demand for some products and services. When the government tries to reduce the smoking of tobacco products, it adds more tax to the products and is practicing demarketing. True ✔ False
10. Marketing management is interested in serving all customers in every way to remain competitive in today's markets. True ✔ False
11. Product, Price, Place and promotion make up the elements of a firm's marketing mix. True y False
12. The simplest definition of modern marketing is managing profitable customer rleationships. True y False
13. Customer-perceived value depends on the product's perceived performance relative to a buyer's expectations. True y False
14. When backed by buying power, needs become demands. True y False
15. Characteristics such as age, gender, and marital status are known as ___ Psychographic characteristics Biographical characteristics Geographical characteristics Behavioral characteristics
16. ___ works on supposition that consumers/customers buy products which fulfill their needs.

Marketing concept y

Product Concept

Q51. Which of the following options refers to the activities that are associated with planning, pricing, promoting and distributing the product or service?

Selling Promotion All of given

52. ___ focuses on making every possible sale of the product, regardless of the need of customer.

Selling concept y Product concept

53. ___ focuses on making better-quality products for their customers.

Product concept y

54. Marketing is a process which aimed at ___ Production Financial management Satisfaction of consumer needs/wants y None
55. The ___ is a marketing concept that holds that the company makes its marketing decisions by considering consumer's needs and, wants and society's long term interests. Product Production Selling Societal Marketing y
56. A transaction involves ___ At least two individuals/ Parties Both is capable to communicate and deliver Both are free to accept or reject the offer
57. Delivering customer satisfaction in return of profit is known as: Management

Selling Distribution

Q58. Building, keeping and growing profitable value-laden relationships with all customers of a company refers to which of the following options?

Customer lifetime value Customer perceived value Customer relationship management Y Societal marketing

59. The 4 P's of marketing are the product, price, place, and promotion. Occasionally marketers consider two more P's. These are: People and Processes Profits and Processes People and Profits y Profits and Procedure
60. All of the following are the actors of micro environment EXCEPT:

Company Suppliers