MKT501 Midterm MCQs 2024 Set 2 by Miss Mehwish

MKT501 (Mega File) · Mid Term (Live Quiz) · Past Papers for Mids./Finals are also Available

Q1. A firm is producing standardized products and enjoying the economies of scale by producing more. The firm is following which of the following strategy?

Market segmentation strategy

Market dominance strategy

2. Product is about translating the list of core benefits into a differentiated product through packaging, branding and styling. Core

✅ Actual

Augmented Impulse

Q3. Which of the following is NOT the phase included in Idea Screening of new product development?

Testing a concept Elimination of unsound concepts Asking relative questions

✅ Measuring technical feasibility

Q4. Which of the following emphasizes on profit margins rather than revenue?

5. A product is one that has a very short shelf life. E.g. vegetables and fruits etc.

✅ Perishable

Augmented Actual Impulse

Q6. In-use and psychological benefits are the elements of which of the following option(s)?

Q7. Which of the following option represents the companies which prefer to follow rather than challenge?

Q8. Which of the following is NOT the component of market leader?

Look for competitor strategies Expand the total market Protect your existing market

✅ Expand your market share

9. In order to be competitive in an over-saturated market where customers have very unique needs which are under-served; firms serve such customers by offering differentiated products which are difficult to copy. This refers to: Vertical strategy

Horizontal strategy

10. Identify the strategy that deals with the rate of new product development.

✅ Innovation strategy

Horizontal integration Vertical integration Aggressiveness strategy

Q1. Which of the following market dominance strategy involves less risk of competitive attacks?

o ⬜ Followers o ⬜ Challengers o ✔ Nichers

2. Vertical Integration is in which the firm sets up subsidiaries that produce few of the inputs used in the final production. o ⬜ Horizontal o ✔ Backward

o ⬜ Forward o ⬜ Balanced