Marketing MCQ Questions and Solutions with Explanations | Management

A Need becomes a motive when it is aroused to a sufficient level of intensity. A need is a consumer's desire for a product's or service's specific benefit, whether that be functional or emotional.

The five-stage model of the consumer buying process includes all of the following stages EXCEPT Social interaction. Social interactions are the processes by which we act and react to those around us.

If performance meets consumer expectations, the consumer is Satisfied. Performance marketing is a comprehensive term that refers to online marketing and advertising programs in which advertisers and marketing companies are paid when a specific action is completed; such as a sale, lead or click.

Companies selling mass consumer goods and services such as soft drinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time trying to establish a superior brand image in markets called Consumer markets. Consumer markets refers to the markets where people purchase products for consumption and are not meant for further sale. This market is dominated by the products which consumer use in their daily life.

The Selling concept is practiced most aggressively with unsought goods, goods that buyers normally do not think of buying, such as insurance, encyclopaedias, and funeral plots. The Selling Concept proposes that customers, be individual or organizations will not buy enough of the organization's products unless they are persuaded to do so through selling effort. So organizations should undertake selling and promotion of their products for marketing success.

The Product concept holds that consumers will favour those products that offer the most quality, performance, or innovative features. The product concept proposes that consumers will prefer products that have better quality , performance and features as opposed to a normal product.

Direct marketing has the aim of building mutually satisfying long-term relations with key parties such as customers, suppliers, distributors, and other marketing partners in order to earn and retain their business. Direct marketing is an advertising strategy that relies on the individual distribution of a sales pitch to potential customers.

The four Ps are the product (the good or service), the price (what the consumer pays), the place (the location where a product is marketed), and promotion (the advertising).

David Packard of Hewlett-Packard once said, “Marketing is far too important to leave to The marketing department.” A marketing department promotes your business and drives sales of its products or services. It provides the necessary research to identify your target customers and other audiences. Depending on the company's hierarchical organization, a marketing director, manager or vice president of marketing might be at the helm.

The traditional view of marketing is that the firm makes something and then Sells it. The traditional concept of marketing corresponds to the general notion of marketing, which means selling goods and services after they have been produced.