Exam (elaborations)
Exam (elaborations) MKTG301 Management of Marketing MCQS solved
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This post covers 30 MCQS on management of marketing..The answers for the 30 MCQS are provided together with the explanation
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Principles of MarketingMCQS questions and answers
1. Which of these is true about marketing?
A. Marketing is used to promote the product and services
B. Marketing is concerned about the sales only
C. Marketing is the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and
society at large.
D. Marketing considers only the needs of the organization and not the society
Answer: C) Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.
2. Which one is not a part of the 4 Ps?
A. Product
B. People
C. Price
D. Place
Answer: B) People
Explanation:
People are a part of the 7 Ps. The concept of the 7 Ps is used in service marketing.
3. Who is the Father of Modern Marketing?
A. Philip Kotler
B. Peter F Drucker
C. Abraham Maslow
D. Raymond Kroc
Answer: A) Philip Kotler
Explanation:
Philip Kotler is the father of modern marketing. He is an American marketing author and
professor emeritus.
4. ____defined marketing as the science and art of exploring, creating, and delivering value
to satisfy the needs of a target market at a profit?
A. Steve Jobs
B. Philip Kotler
C. Peter Drucker
D. Abraham Maslow
Answer: B) Philip Kotler
Explanation:
Philip Kotler is the father of modern marketing. He is an American marketing author and
professor emeritus.
5. The term "Marketing" refers to?
, A. Promotion of the product
B. Focusing on sales and profit
C. Strategizing and implementing the organization process
D. Set of activities to deliver customer value and satisfaction
Answer: D) Set of activities to deliver customer value and satisfaction
Explanation:
The latest idea of marketing is that it is a set of activities to deliver customer value and
satisfaction. There were different phases when marketing was considered more about
production
and selling.
6. ____ is the key term in AMA's definition of marketing?
A. Sales
B. Promotion
C. Value
D. Profit
Answer: C) Value
Explanation:
In its standard definition of marketing, the American Marketing Association focuses on Value to
the customers.
7. Why must the marketers monitor the competitor's activities?
A. The competitor may destroy the organization
B. The competitor may threaten the monopoly position of the company
C. New offerings of a competitor may need alterations in one or more components of the
company's marketing mix
D. The competitor may be violating the law to gain an advantage
Answer: C) New offerings of a competitor may need alterations in one or more components of
the company's marketing mix
Explanation:
Monitoring the competitor's activities helps the company to modify its plans and activities to
remain profitable and sustained in the market.
8. Different price points for a different level of quality for a company's related products is a
part of which pricing strategy?
A. Product line pricing
B. Incremental pricing
C. Optional product pricing
D. By-product pricing
Answer: A) Product line pricing
Explanation:
In product line pricing the company adds features to the base product and charges more for the
features, as compared to the base product.
9. In today's time marketing must be understood and developed as?
A. Getting the first mover’s advantage
B. Creating value for the customers
C. Pushing for higher sales and profits
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