Bank Model Test Paper (Marketing Knowledge)
1. Regulations that arise to ensure that firms take
responsibility for the social costs of their products or production processes
stem from which reason for government legislation of business?
(a) To protect
companies from each other
(b) To protect
consumers from unfair business practices
(c) To protect the
interests of society
(d) To protect
businesses from unfair consumer demands
Ans : C
2. A "three-day cooling off period" in which
buyers can cancel a contract after re-thinking it is to protect the consumer
from:
(a) creative selling (b) high pressure selling (c) detail
selling (d) hard core selling
Ans : B
3. One of the most promising developments in multivariable
segmentation is called _____ where a host of demographic and socioeconomic
factors are used
(a) terragraphic
segmentation (b) fermagraphic segmentation
(c) geothermy
segmentation (d) geodemographic segmentation
Ans : D
4. One of the most common problems with using internal
database information is that :
(a) since it was probably collected for some other purpose,
it may be incomplete or wrong.
(b) it is usually
expensive to retrieve.
(c) top executives
are usually unwilling to relinquish data, therefore, the data has limits.
(d) the data is
almost always unsecured and therefore, suspect as to reliability
Ans : A
5. The last stage in the selling process is the _____ stage.
(a) approach (b) handling
objections (c) closing (d) follow-up
Ans : D
6. When Coca-Cola and Nestle formed a joint venture to
market a ready-to-drink coffee and tea worldwide, the type of marketing system
that was formed would best be described as being a(n):
(a) vertical marketing system (b) parallel marketing system
(c) diversified
marketing system (d) horizontal marketing system
Ans : D
7. The major advantage of survey research is its :
(a) simplicity (b) structure (c) organization (d)
flexibility
Ans : D
8. The _____ holds that consumers will favor products that
are available and highly affordable (therefore, work on improving production
and distribution efficiency)
(a) product concept
(b) production concept
(c) production cost
expansion concept (d) marketing concept
Ans : B
9. A ____ is any activity or benefit offered for sale that
is essentially intangible and does not result in the ownership of anything
(a) demand (b) basic
staple (c) product (d) service
Ans : D
10. _____ is a person's distinguishing psychological
characteristics that lead to relatively consistent and lasting responses to his
or her own environment
(a) Psychographics
(b) Personality (c) Demographics (d) Lifestyle
Ans : B
11. The place in the business buying behavior model where
interpersonal and individual influence might interact is called the
(a) environment (b)
response (c) stimuli (d) buying center
Ans : D
12. The course of a product's sales and profits over its
lifetime is called
(a) the sales chart
(b) the dynamic growth curve
(c) the adoption
cycle (d) the product life cycle
Ans : D
13. When companies make marketing decisions by considering
consumer's wants and the long-run interests of the company, consumer, and the
general population, they are practicing which of the following principles?
(a) Innovative
marketing (b) Consumer-oriented marketing
(c) Value marketing
(d) Societal marketing
Ans : D
14. All of the following are thought to be sources if new
product ideas EXCEPT.
(a) internal sources
(b) customers (c) competitors (d) the local library
Ans : D
15. If Honda uses its company name to cover such different
products as its automobiles, lawn mowers, and motorcycles, it is practicing
which of the following strategies?
(a) new brand strategy
(b) line extension strategy
(c) multibrand
strategy (d) brand extension strategy
Ans : D
16. If a company (considering its options on the
product/market expansion grid) chooses to move into different unrelated fields
(from what it has ever done before) with new products as a means to stimulate
growth, the company would be following which of the following general
strategies?
(a) market
penetration (b) market development
(c) product
development (d) diversification
Ans : D
17. When a marketing research organization chooses a segment
of the population that represents the population as a whole, they have chosen a
_____
(a) group (b)
bi-variant population (c) sample (d) market target
Ans : C
18. Joining with foreign companies to produce or market
products and services is called
(a) direct exporting
(b) indirect exporting (c) licensing (d) joint venturing
Ans : D
19. If advertising constantly sends out messages about
materialism, sex, power, and status, which of the following categories of
social criticism most closely matches this problem?
(a) Too much
advertising (b) Too few social goods
(c) Cultural
pollution (d) Too much political power
Ans : C
20. A(n) ____ is a name, term, sign, symbol, or design, or a
combination of these that identifies the marker or seller of a product or
service.
(a) product feature
(b) sponsorship (c) brand (d) logo
Ans : C
21. If an advertiser wants flexibility, timeliness, good
local market coverage, broad acceptability and high believability, the
advertiser will probably choose which of the following mass media types?
(a) Newspapers (b)
Television (c) Direct Mail (d) Radio
Ans : A
22. When producers, wholesalers, and retailers as a unified
system, they comprise a
(a) conventional
marketing system (b) power-based marketing system (c) horizontal marketing
system (d) vertical marketing system
Ans : D
23. The type of trade-promotion discount in which
manufacturers agree to reduce the price to the retailer in exchange for the
retailer's agreement to feature the manufacture's products in some way is
called
(a) discount (b)
allowance (c) premium (d) rebate
Ans : B
24. The study of human populations in terms of size,
density, location, age, gender, race, occupation, and other statistics is
called :
(a) Geothermy (b) Demography (c) Ethnography (d)
Hemos-popography
Ans : B
25. Today, advertising captures about ___ percent of total
promotion spending
(a) 15 (b) 23 (c) 29
(d) 33
Ans : B
26. The process that turns marketing strategies and plans
into marketing actions in order to accomplish strategic marketing objectives is
called :
(a) Marketing strategy (b) Marketing control
(c) Marketing
analysis (d) Marketing implementation
Ans : D
27. The goal of the marketing logistics system should be to
provide :
(a) a targeted level of promotional support.
(b) a targeted level
of customer service at the least cost.
(c) a targeted level
of transportation expense ratio.
(d) a targeted level
of field support.
Ans : B
28. The practice of going after a large share of a smaller
market or subsets of a few markets is called :
(a) undifferentiated marketing (b) differentiated marketing
(c) concentrated
marketing (d) turbo marketing
Ans : C
29. The shrinking of distances due to technological advance
such as computer and fax connections by telephone, are one characteristic of
what new challenge to marketing?
(a) Rapid
globalization
(b) The changing
world economy
(c) The call for more
socially responsible marketing
(d) The micro-chip
revolution
Ans : A
30. If Mark Mars pays Hershey Foods Corporation for the
right to use their name on his line of T-shirts, then Mr. Mars is using which
type of branding?
(a) Licensed brand
(b) Manufacturer's brand
(c) Private brand (d)
Co-brand
Ans : A
31. If your company were to make light bulbs to be used in
photocopies, you would most likely be selling to a ______ market.
(a) reseller (b)
business (c) government (d) service
Ans : B
32. _____ has the advantage of being high in selectivity;
low cost, immediacy, and interactive capabilities
(a) Direct Mail (b)
Outdoor (c) Online (d) Radio
Ans : C
33. If your company were to make a product such as a suit of
clothes and sold that product to a retailer, your company would have sold to
the _______market.
(a) reseller (b)
business (c) government (d) service
Ans : A
34. In 1985, the Coca-Cola Company made a classic marketing
blunder with its deletion of its popular Coca-Cola product and introduction of
what it called New Coke. Analysts now believe that most of the company's
problems resulted from poor marketing research. As the public demanded their
"old Coke" back, the company relented and reintroduced Coca-Cola
Classic (which has regained and surpassed its former position) while New Coke
owns only 0.1 percent of the market. Which of the following marketing research
mistakes did coca-Cola make?
(a) They did not
investigate pricing correctly and priced the product too high.
(b) They defined not
investigate dealer reaction and had inadequate distribution.
(c) They defined
their marketing research problem too narrowly
(d) They failed to
account for the Pepsi challenge taste test in their marketing efforts
Ans : C
35. Marketers are sometimes accused of deceptive practices
that lead consumers to believe they will get get more value than they actually
do. ____ includes practices such as falsely advertising "factory" or
"wholesale" prices or a large price reduction from a phony high
retail price.
(a) Deceptive
promotion (b) Deceptive packaging
(c) Deceptive pricing
(d) Deceptive cost structure
Ans : C
36. The advantages of audience selectivity, no ad
competition and personalization apply to which type of media?
(a) Newspapers (b)
Television (c) Direct Mail (d) Radio
Ans : C
37. The first modern environmental movement in the United
States began in theAns :
(a) 1940s (b) 1950s (c) 1960s and 1970s (d) mid 1980s
Ans : C
38. Costs that do not vary with production or sales levels
are called :
(a) fixed costs (b) variable costs
(c) standard costs
(d) independent costs
Ans : A
39. Each salesperson is assigned to an exclusive area in
which to sell the company's full line of products or services in which type of
sales force structure?
(a) Territorial sales
force (b) Product sales force
(c) Customer sales
force (d) Hybrid sales force
Ans : A
40. Techonological advances, shifts in consumer tastes, and
increased competition, all of which reduce demand for a product are typical of
which stage in the PLC?
(a) decline stage (b)
introduction stage
(c) growth stage (d)
maturity stage
Ans : A
41. Setting the promotion budget so as to match the budgets
of the competition is characteristic of which of the following budget methods?
(a) Affordable method
(b) Percentage-of-Sales method
(c)
Competitive-and-parity method (d) Objective -and-task method
Ans : C
42. ____ is screening new-product ideas in order to spot
good ideas and drop poor ones as soon as possible.
(a) Idea generation
(b) Concept development and testing
(c) Idea screening
(d) Brainstorming
Ans : C
43. The type of sales force structure in which the sales
force sells along product lines is called a
(a) territorial sales
force (b) product sales force
(c) customer sales
force (d) retail sales force
Ans : B
44. A company is in the _____ stage of the new product
development process when the company develops the product concept into a
physical product in order to assure that the product idea can be turned into a
workable product.
(a) product
development (b) commercialization
(c) marketing
strategy (d) business analysis
Ans : A
45. When personal interviewing involves inviting six to ten
people to gather for a few hours with a trained interviewer to talk about a
product, service, or organization, the method is called :
(a) selective sponsorship (b) probing
(c) focus group
interviewing (d) the Delphi method
Ans : C
46. All of the following factors can affect the
attractiveness of a market segment
EXCEPT :
(a) the presence of many strong and aggressive competitors
(b) the likelihood of
government monitoring
(c) actual or
potential substitute products
(d) the power of
buyers in the segment
Ans : B
47. If a government uses barriers to foreign products such
as biases against a foreign company's bids, or product standards that go
against a foreign company's product features, the government is using
(a) protectionism (b)
exchange controls
(c) exchange
facilitators (d) non-tariff trade barriers
Ans : D
48. The choice between high markups and high volume is part
of which of the following retailer marketing decisions?
(a) Target market
decisions
(b) Product
assortment and services decisions
(c) Pricing decisions
(d) Promotion
decisions
Ans : C
49. One common misuse of marketing research findings in
contemporary business is the tendency for marketing research to :
(a) become a vehicle for pitching the sponsor's products
(b) become a vehicle
for discriminating in the marketplace
(c) become a means
for raising prices
(d) become a means
for unfair competition
Ans : A
50. The most logical budget setting method is found in the
list below. Which is it?
(a) Affordable method
(b) Percentage-of-Sales method
(c)
Competitive-parity method (d) Objective-and-task method
Ans : D
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