1. Which term best describes marketing’s role in society as a whole, emphasizing its broader impact beyond individual transactions?
- Economic Process
- Societal Process
- Commercial Process
- Individual Process
Answer :- b
2. Which dimension of cost refers to the mental or psychological effort, stress, or discomfort associated with a particular decision or action?
- Psychic Cost
- Energy Cost
- Time Cost
- Monetary Cost
Answer :- a
3. A beverage company is planning to launch a new energy drink targeting young adults aged 18-30 who lead active lifestyles and are health-conscious. The company wants to tailor its marketing strategies to effectively reach this specific demographic.
Which marketing concept is the beverage company utilizing by focusing?
- Segmentation
- Targeting
- Positioning
- Differentiation
Answer :- a
4. A newly established tech startup has developed a cutting-edge fitness tracking device targeted at health-conscious consumers who lead active lifestyles. The company is now planning to launch its product in the market.
Which element of the marketing mix would the startup primarily focus on to create awareness, generate interest, and influence potential customers to purchase its fitness tracking device?
- Product
- Promotion
- Place
- Price
Answer :- b
5. Which type of research design is used when the researcher seeks to gain insights, explore new ideas, or understand a phenomenon in depth, especially when there is limited existing knowledge or understanding of the topic?
- Exploratory Research Design
- Descriptive Research Design
- Causal Research Design
- Correlational Research Design
Answer :- a
6. Rekha has been feeling increasingly tired and sluggish during her daily workouts at the gym. She notices that her energy levels are lower than usual, and she struggles to complete her exercises effectively. As a result, she finds herself unable to achieve her fitness goals and feels frustrated with her lack of progress.
In the context of the basic Buyer Decision process model, which stage of the consumer decision-making process is Rekha most likely experiencing?
- Need Recognition
- Information Search
- Evaluation of Alternatives
- Post-Purchase Behavior
Answer :- a
7. Radha books a stay at a boutique hotel for her vacation. Upon arrival, she discovers that in addition to the standard amenities like a comfortable room and complimentary breakfast, the hotel offers free bicycle rentals for guests to explore the nearby scenic trails.
In the context of the Five Product Levels framework, what aspect of the hotel’s offering does the free bicycle rental represent?
- Core Benefit
- Basic Product
- Expected Product
- Augmented Product
Answer :- d
8. Which of the following best describes staple goods?
- Products purchased without any prior planning or effort.
- Goods acquired in response to urgent or immediate needs.
- Essential items that consumer’s purchase regularly to meet their basic needs.
- Products that consumers buy on impulse due to spontaneous urges or desires.
Answer :- c
9. Which stage of the New Product Development process involves ongoing monitoring and management of the product’s performance, market dynamics, and competitive landscape?
- Production
- PLC Management
- Prototype Testing
- Design of Marketing Plan & Launch
Answer :- b
10. Kumar, a business student, notices that there is a lack of affordable and accessible tutoring services for high school students in his community. Many students struggle with academic subjects but cannot afford expensive private tutoring services, and there are limited resources available through schools.
In the context of identifying opportunities, what method is Kumar utilizing by recognizing the lack of affordable and accessible tutoring services in his community?
- Observing Trends
- Solving a Problem
- Finding Gaps in the Marketplace
- Analyzing Competitor Strategies
Answer :- c