Marketing Management | MCQ with Answer

Marketing Management | MCQ with Answer | Part 2

Which of the following criteria is NOT part of selecting an ideal target segment?

A) Financially valuable
B) Sustainable
C) Easily accessible
D) Different than other segments
Answer: C) Easily accessible

What does the “Competitive Strength” criterion focus on when targeting a segment?

A) Size and growth rate of the market
B) The relative strength of a firm compared to competitors
C) Price sensitivity of the target market
D) Customers’ loyalty to the firm
Answer: B) The relative strength of a firm compared to competitors

What is the purpose of “Perceptual Maps” in positioning?

A) Identifying customer preferences
B) Analyzing competitor strengths
C) Aiding in positioning decisions
D) Evaluating company resources
Answer: C) Aiding in positioning decisions

Which of the following is NOT a source of customer heterogeneity?

A) Individual differences
B) Functional needs
C) Marketing activities
D) Geographic region
Answer: D) Geographic region

The primary focus of a positioning statement is to answer which of the following questions?

A) Who are the customers?
B) What is the size of the target segment?
C) How does the product affect competitors?
D) What are the promotional channels?
Answer: A) Who are the customers?

“All customers change” refers to which aspect of marketing strategy?

A) Customer Heterogeneity
B) Customer Dynamics
C) Customer Positioning
D) Brand Loyalty
Answer: B) Customer Dynamics

Which stage in the customer dynamic segmentation approach is concerned with the first interaction with a customer?

A) Retention
B) Expansion
C) Acquisition
D) Engagement
Answer: C) Acquisition

What is meant by “latent customer heterogeneity”?

A) Observable differences in customer preferences
B) Hidden differences in desires that are not yet manifest
C) The similarity of customer segments over time
D) Changes in customer needs due to age
Answer: B) Hidden differences in desires that are not yet manifest

Which targeting strategy focuses on a “1 to 1 marketing” approach?

A) Mass marketing
B) Segment marketing
C) Niche marketing
D) Individual marketing
Answer: D) Individual marketing

What do “first principles” of marketing strategy help businesses achieve?

A) Customize products to a niche market
B) Set standard pricing for all customers
C) Solve business problems and improve performance
D) Track competitors’ strengths
Answer: C) Solve business problems and improve performance

What does the term "market attractiveness" encompass in the context of segment targeting?

A) Brand image and loyalty
B) Market size, growth rate, and price sensitivity
C) Customer retention and satisfaction
D) Competitive strength
Answer: B) Market size, growth rate, and price sensitivity

Which of the following is NOT a criterion for an ideal target segment?

A) Based on customer needs
B) Little crossover competition
C) High price sensitivity
D) Financially valuable
Answer: C) High price sensitivity

Which of the following refers to a buyer's demographic and psychographic characteristics for developing marketing strategies?

A) Marketing Mix
B) Buyer Persona
C) Value Proposition
D) Positioning Statement
Answer: B) Buyer Persona

Which “C” is NOT directly considered in the "3Cs" analysis framework?

A) Customer
B) Company
C) Community
D) Competitors
Answer: C) Community

Latent customer heterogeneity arises from unobserved differences in consumer desires due to factors such as all of the following EXCEPT:

A) Legal constraints
B) Economic constraints
C) Social factors
D) Technological constraints
Answer: C) Social factors

In positioning strategy, which tool is commonly used to visualize and analyze competitive positioning in the minds of customers?

A) Perceptual map
B) SWOT analysis
C) Product lifecycle
D) Marketing Mix
Answer: A) Perceptual map

The “Customer Dynamics” principle in marketing strategy addresses which key idea?

A) Customer preferences are static over time.
B) Customers change over time or due to specific events.
C) All customers follow a common lifecycle without major deviations.
D) Customer segments remain constant in size and preferences.
Answer: B) Customers change over time or due to specific events.

Which of the following is NOT one of the five sources of customer heterogeneity?

A) Life experiences
B) Functional needs
C) Cultural trends
D) Marketing activities
Answer: C) Cultural trends

Which of the following best defines the "5C model" in marketing?

A) A model for pricing strategies
B) A comprehensive situational analysis model
C) A model focused on promotional tactics
D) A framework for supply chain management
Answer: B) A comprehensive situational analysis model

In the STP framework, which of the following is NOT a step in the positioning process?

A) Identifying possible competitive advantages
B) Selecting a market segment
C) Developing positioning for each segment
D) Communicating positioning to the market
Answer: B) Selecting a market segment

Which of these statements best describes a "value proposition"?

A) A description of the target market
B) The benefits a company promises to deliver
C) A cost-benefit analysis of the product
D) The pricing strategy for a product line
Answer: B) The benefits a company promises to deliver

What is the primary purpose of a PESTEL analysis in marketing?

A) To evaluate consumer behaviors
B) To understand the internal strengths of a company
C) To analyze external environmental factors
D) To develop a pricing strategy
Answer: C) To analyze external environmental factors

Which of the following is NOT typically included in demographic segmentation?

A) Age
B) Lifestyle
C) Gender
D) Income
Answer: B) Lifestyle

The marketing mix consists of the following elements EXCEPT:

A) Product
B) Profit
C) Promotion
D) Place
Answer: B) Profit

The process of dividing a market into distinct groups of buyers with different needs is called:

A) Market analysis
B) Market segmentation
C) Market positioning
D) Market profiling
Answer: B) Market segmentation

In a customer decision-making process, what typically follows the "Information Search" stage?

A) Problem recognition
B) Purchase decision
C) Evaluation of alternatives
D) Post-purchase evaluation
Answer: C) Evaluation of alternatives

Which type of market segmentation divides customers based on their specific needs or product uses?

A) Geographic segmentation
B) Demographic segmentation
C) Psychographic segmentation
D) Behavioral segmentation
Answer: D) Behavioral segmentation

Which of the following is NOT a component of psychographic segmentation?

A) Lifestyle
B) Age
C) Personality
D) Social class
Answer: B) Age

In B2B marketing, segmentation is often based on factors such as:

A) Consumer lifestyle and interests
B) Organizational size and purchase volume
C) Geographic location and climate
D) Individual consumer needs
Answer: B) Organizational size and purchase volume

Customer heterogeneity often results from each of the following EXCEPT:

A) Differences in preferences
B) Cost-saving strategies
C) Changes in technology
D) Variations in budget
Answer: B) Cost-saving strategies

When marketers want to reach customers by social class, lifestyle, and personality traits, they often use:

A) Behavioral segmentation
B) Psychographic segmentation
C) Demographic segmentation
D) Geographic segmentation
Answer: B) Psychographic segmentation

The concept of "Positioning" in marketing refers to:

A) Choosing a location for product distribution
B) Setting up advertising channels
C) Creating a distinct image in consumers' minds
D) Developing a pricing strategy
Answer: C) Creating a distinct image in consumers' minds

A buyer’s journey typically starts with:

A) Evaluation of alternatives
B) Problem recognition
C) Purchase decision
D) Post-purchase evaluation
Answer: B) Problem recognition

Which of the following is NOT typically a part of the marketing mix (4Ps)?

A) Product
B) Price
C) People
D) Promotion
Answer: C) People

In a B2C environment, segmentation often includes all of the following EXCEPT:

A) Buying frequency
B) Purchase volume
C) Geographic location
D) Personality traits
Answer: B) Purchase volume

The "5 Forces" framework was developed by:

A) Philip Kotler
B) Michael Porter
C) Theodore Levitt
D) Gary Hamel
Answer: B) Michael Porter

What does the "STP" in marketing stand for?

A) Segmenting, Targeting, Positioning
B) Sourcing, Timing, Pricing
C) Selling, Trading, Promoting
D) Strategy, Tactics, Pricing
Answer: A) Segmenting, Targeting, Positioning

The "Marketing Mix" is also commonly known as the:

A) 3Ps
B) 4Ps
C) 5Cs
D) 7Ps
Answer: B) 4Ps

A persona is:

A) An ideal representation of a target customer
B) A demographic variable
C) A segmentation criterion
D) A type of product
Answer: A) An ideal representation of a target customer

A core aspect of the consumer decision-making process that involves reassessing satisfaction after purchase is called:

A) Pre-purchase evaluation
B) Post-purchase behavior
C) Purchase intention
D) Problem recognition
Answer: B) Post-purchase behavior

Positioning maps are primarily used to:

A) Identify price points
B) Analyze distribution channels
C) Visualize competitor positioning
D) Forecast market trends
Answer: C) Visualize competitor positioning

The B2C and B2B marketing differ mainly in:

A) Communication strategies
B) Pricing tactics
C) Customer decision-making process
D) Product lifespan
Answer: C) Customer decision-making process

An example of geographic segmentation is:

A) Dividing the market by age groups
B) Marketing differently in urban and rural areas
C) Differentiating by lifestyle preferences
D) Targeting high-income consumers
Answer: B) Marketing differently in urban and rural areas

Which of the following is considered a "product line"?

A) A single product with multiple variations
B) Different brands under the same company
C) A group of related products marketed together
D) Products that use the same distribution channel
Answer: C) A group of related products marketed together

In the 5C model, which element is focused on analyzing competitors' strengths and weaknesses?

A) Context
B) Company
C) Collaborators
D) Competition
Answer: D) Competition

What type of segmentation divides a market based on usage rates and loyalty status?

A) Behavioral segmentation
B) Geographic segmentation
C) Psychographic segmentation
D) Demographic segmentation
Answer: A) Behavioral segmentation

In the context of marketing channels, which option best describes "intensive distribution"?

A) Distributing in only select outlets
B) Maximizing product availability across many outlets
C) Offering exclusive distribution rights
D) Targeting only online sales
Answer: B) Maximizing product availability across many outlets

Which of these is an example of a "positioning statement"?

A) "Just Do It"
B) "The best sports shoes for athletes of all ages"
C) "Quality products at affordable prices"
D) "Think Different"
Answer: B) "The best sports shoes for athletes of all ages"

The "PESTEL" analysis includes all the following factors EXCEPT:

A) Economic
B) Political
C) Technological
D) Geographic
Answer: D) Geographic

Which of the following best describes "customer lifetime value" (CLV)?

A) Total revenue earned per transaction
B) Expected revenue generated from a customer over their relationship with a company
C) Cost of acquiring a new customer
D) Average yearly profit per customer
Answer: B) Expected revenue generated from a customer over their relationship with a company

What term refers to the customer's overall perception of the value of a brand?

A) Brand loyalty
B) Brand equity
C) Brand association
D) Brand awareness
Answer: B) Brand equity

In marketing, a "mission statement" primarily communicates:

A) The company’s unique selling proposition
B) The core purpose and values of the company
C) The target customer demographic
D) The company’s product offerings
Answer: B) The core purpose and values of the company

What is the primary goal of "market targeting"?

A) To analyze the competition
B) To select a specific segment to serve
C) To decide on pricing strategies
D) To develop promotional tactics
Answer: B) To select a specific segment to serve

The concept of “consumer surplus” is best described as:

A) The excess quantity of products in inventory
B) The additional benefit consumers receive when the price paid is less than what they are willing to pay
C) The monetary difference between production costs and selling price
D) A discount offered to frequent buyers
Answer: B) The additional benefit consumers receive when the price paid is less than what they are willing to pay

In marketing, “brand positioning” is best defined as:

A) Setting a price point
B) Developing distribution channels
C) Establishing a brand image in the minds of the target market
D) Expanding a product line
Answer: C) Establishing a brand image in the minds of the target market

In the 4Ps of marketing, "Promotion" primarily focuses on:

A) Building product features
B) Communicating the product’s value to consumers
C) Deciding on the product’s price
D) Selecting retail locations
Answer: B) Communicating the product’s value to consumers

Which of the following is a key component of a "marketing strategy"?

A) Stock availability
B) Target market identification
C) Employee training
D) Daily operations planning
Answer: B) Target market identification

What is the main purpose of a "brand audit"?

A) To evaluate financial statements
B) To assess the brand’s position, strengths, and weaknesses
C) To create new promotional strategies
D) To analyze competitor pricing
Answer: B) To assess the brand’s position, strengths, and weaknesses

"Perceptual mapping" is commonly used to:

A) Identify distribution networks
B) Position brands based on consumer perceptions
C) Develop pricing strategies
D) Set promotional schedules
Answer: B) Position brands based on consumer perceptions

Which of the following best describes "B2B" marketing?

A) Business-to-Buyer
B) Business-to-Business
C) Buyer-to-Buyer
D) Brand-to-Buyer
Answer: B) Business-to-Business

In customer segmentation, “firmographics” are commonly used in:

A) B2C marketing
B) B2B marketing
C) Both B2C and B2B marketing
D) None of the above
Answer: B) B2B marketing

Which of the following is an example of "psychographic segmentation"?

A) Segmenting based on regional climate
B) Dividing customers by age group
C) Grouping consumers by lifestyle choices
D) Targeting based on income levels
Answer: C) Grouping consumers by lifestyle choices

The primary aim of “customer relationship management” (CRM) is to:

A) Increase product inventory
B) Strengthen customer loyalty and retention
C) Reduce costs associated with product design
D) Improve employee satisfaction
Answer: B) Strengthen customer loyalty and retention

In the STP process, "targeting" refers to:

A) Creating advertisements for a broad market
B) Selecting specific market segments to serve
C) Positioning the product in a new market
D) Segmenting based on product features
Answer: B) Selecting specific market segments to serve

"Customer-centric" marketing focuses primarily on:

A) Maximizing product features
B) Building long-term relationships and satisfaction
C) Cutting operational costs
D) Increasing product availability
Answer: B) Building long-term relationships and satisfaction

In the marketing mix, the “Place” element refers to:

A) The price at which a product is sold
B) The product’s unique features
C) Distribution channels to make the product available
D) The promotional strategies used
Answer: C) Distribution channels to make the product available

Which segmentation approach is best suited for a product like “luxury watches”?

A) Behavioral segmentation
B) Geographic segmentation
C) Psychographic segmentation
D) Demographic segmentation
Answer: C) Psychographic segmentation

The "buyer persona" is used to:

A) Predict economic trends
B) Represent an ideal customer for targeting and messaging
C) Create an inventory of product features
D) Identify competitor brands
Answer: B) Represent an ideal customer for targeting and messaging

Which strategy involves focusing on a large market segment to attract as many customers as possible?

A) Differentiated marketing
B) Niche marketing
C) Mass marketing
D) Concentrated marketing
Answer: C) Mass marketing

Marketing Management | MCQ with Answer | Part 2