Exam (elaborations) MKTG301 Principles of Marketing MCQS solved
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Course
MKTG301
Institution
Jomo Kenyatta University
Book
Principles of Marketing
This post covers 33 MCQS on management of marketing with verified solutions and explanations. This MCQS questions are helpful for the students persuing this course
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Exam (elaborations) MKT305 Principles of Marketing Chapter 7 Customer Value-Driven Marketing Strategy: Creating Value for Target Customers
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PRINCIPLES OF MARKETING
MCQS solved
1. When a firm believes that competitive edge depends purely on its ability to innovate, it
is following?
A. Competitive model
B. Conventional model
C. Out-of-the-box thinking
D. None of the above
Answer: B) Conventional model
Explanation:
In the Conventional model a marketer believes that a better product will sell itself. Whether the
product adds value to the customer or not is not a consideration under the conventional model.
2. Which of the following is important for the success of a differentiated product with
unique customer benefits?
A. Early recognition of the need
B. Large scale promotion
C. Product superiority
D. Detailed analysis
Answer: C) Product superiority
Explanation:
WWhen a product is offering some unique benefits to the customers it must be superior to its
counterparts. If the solutions offered are not superior to its competitors, customers may not
show
interest in switching to that product.
3. Choose the correct sequence of activities for brand building?
A. Selecting brand elements > Leveraging secondary associations > Developing a marketing
program
B. Developing marketing program > Selecting brand elements > Leveraging secondary
associations
C. Leveraging secondary associations > Developing marketing program > Selecting brand
elements
D. Selecting brand elements > Developing marketing program > Leveraging secondary
associations
Answer: D) Selecting brand elements > Developing marketing program > Leveraging secondary
associations
Explanation:
Selecting brand elements > Developing marketing program > Leveraging secondary
associations.
4. Which marketing channel makes the products available to end users without
intermediaries?
, A. Indirect channel
B. Direct channel
C. Dynamic channel
D. Flexible channel
Answer: B) Direct channel
Explanation:
In Direct Channel the company does not depend on intermediaries like distributors, wholesalers,
or retailers to make the products available to the customers.
5. One company adjusts its marketing budget by observing another company's budget.
This process is called?
A. Objective and task method
B. Competitor analysis
C. Competitive parity method
D. Affordable budget allocation
Answer: C) Competitive parity method
Explanation:
A company does competitor analysis and makes changes to its budget and plans to stay
competitive in the market by adjusting to the practices of the competitor.
6. At which stage of the product cycle is the profit typically negative?
A. Decline stage
B. Growth stage
C. Maturity stage
D. Growth stage
Answer: D) Growth stage
Explanation:
At the Growth stage the product gains market share and the sales go high. However, a lot of
efforts and expenses are occurred to achieve this growth. The net profit is generally negative at
this stage.
7. Which of the following facts defines the break-even point?
A. Total revenue is less than the total cost
B. Total revenue is the same as the total cost
C. Total profit is more than the total cost
D. The total cost is less than the total cost
Answer: B) Total revenue is the same as the total cost
Explanation:
A company is said to have achieved the breakeven point when the total revenue generation is
the
same as the total cost incurred.
8. The expenses paid to workers for overtime are considered as?
A. Fixed cost
B. Variable cost
C. Dependent cost
D. Total cost
Answer: B) Variable cost
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