Demand States, Key customer markets and Core Marketing Concepts - MCQs with answers

Demand States, Key customer markets and Core Marketing Concepts - MCQs with answers


1. When customers share a strong need that cannot be satisfied by an existing product, it is:

a) Latent demand
b) Unwholesome demand
c) Nonexistent demand
d) Full demand

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ANSWER: a) Latent demand



2. When consumers are attracted to products that have undesirable social consequences, it is

a) Full demand
b) Unwholesome demand
c) Overfull demand
d) Negative demand

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ANSWER: b) Unwholesome demand



3. Resource markets can be classified into:

a) Raw material markets and labor markets
b) Labor markets and money market
c) Raw material market, labor market and money market
d) None of the above

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ANSWER: c) Raw material market, labor market and money market



4. As per marketers, which of the following statement is correct?

a) Sellers constitute the industry and buyers constitute the market

b) Sellers constitute the market and buyers constitute the industry

c) Sellers constitute the market as well as industry

d) Buyers constitute the market as well as industry

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ANSWER: a) Sellers constitute the industry and buyers constitute the market



5. Which of the following statement is true about rural marketing?

a) Rural Marketing consists of marketing of only inputs to the rural market

b) Rural Marketing consists of marketing of only outputs from the rural markets to other geographical areas

c) Rural Marketing consists of marketing of inputs to the rural market as well as well as marketing of outputs from the rural markets to other geographical areas

d) All of above are false

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ANSWER: c) Rural Marketing consists of marketing of inputs to the rural market as well as well as marketing of outputs from the rural markets to other geographical areas.



6. The set of benefits that a company offers to its customers for satisfying their needs is known as

a) Product proposition
b) Value proposition
c) Price proposition
d) None of the above

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ANSWER: b) Value proposition



7. The intangible value proposition is made physical by an offering, which can be

a) a combination of products and services
b) a combination of services and information
c) a combination of information and experiences
d) a combination of product, services, information and experiences

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ANSWER: d) a combination of product, services, information and experiences



8. Value can be defined as the sum of the perceived tangible and intangible costs and benefits to customers and is a combination of :

a) quality and service
b) Service and price
c) Quality, service and price
d) None of the above

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ANSWER: c) Quality, service and price



9. In marketing terms, "QSP" stands for

a) Quality, service and price
b) Quality, service and product
c) Quality, sales and product
d) Quality, sales and prices

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ANSWER: a) Quality, service and price



10. Value ______ with quality and service and ______ with price.

a) Increases, decreases
b) increases, increases
c) Decreases, increases
d) Decreases, decreases

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ANSWER: a) Increases, decreases


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