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Marketing Management

Quiz – 1

PRM 30 & FPRM 2009

Course Facilitator: Pratik Modi

Time: 10 minutes Marks: 5

Name: Section: Roll No.:

Instructions:

• Please write your name and roll number in a legible manner.

• Please mark your answers in an unambiguous manner.

• If you do not know the right answers, kindly leave the question answered. Please note that this quiz carries the penalty for wrong answers.

1. The most formal definition of marketing is ________.

a. meeting needs profitably

b. identifying and meeting human and social needs

c. the four Ps (product, price, place, promotion)

d. an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders

e. improving the quality of life for consumers

Answer: d

2. In ________, consumers may share a strong need that cannot be satisfied by an existing product.

a. negative demand

b. latent demand

c. declining demand

d. irregular demand

e. nonexistent demand

Answer: b

3. A(n) ________ need is a need that the consumer explicitly verbalizes.

a. stated

b. real

c. unstated

d. delight

e. secret

Answer: a

4. ________ reflects a customer’s judgment of a product’s performance in relation to his or her expectations.

a. Loyalty

b. Satisfaction

c. Value

d. Expectations

e. Comparison shopping

Answer: b

5. The ________ includes the actors involved in producing, distributing, and promoting the offering.

a. operations environment

b. management environment

c. strategic environment

d. task environment

e. tactical environment

Answer: d

6. Managers of ________-oriented businesses concentrate on achieving high production efficiency, low costs, and mass distribution.

a. selling

b. product

c. production

d. marketing

e. consumer...