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Marketing MCQ Questions and Solutions with Explanations | Management

Marketing MCQ Questions and answers with easy and logical explanations. Management provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Marketing MCQ is important for exams like MAT, CAT, CA, CS, CMA, CPA, CFA, UPSC, Banking and other Management department exam. Page-5 section-1

Each section contains 100 MCQs on Marketing .
41
Adding new features to a product is advocated by which of the approaches?
Discuss
Answer & Solution
Answer: Option A
Solution:
Adding new features to a product is advocated by Product Approach. The Product Approach. In the product approach, also known as the “income approach” as it compares a business's production to the amount spent to create a product, businesses adapt a successful business model previously tested by another organization.
42
What is the last stage of the consumer decision process?
Discuss
Answer & Solution
Answer: Option B
Solution:
Post purchase behavior is the last stage of the consumer decision process. In the final stage of the buyer decision process, postpurchase behavior, the consumer takes action based on satisfaction or dissatisfaction. In this stage, the consumer determines if they are satisfied or dissatisfied with the purchasing outcome.
43
Which of the following is considered a “key player” in the marketing industry?
Discuss
Answer & Solution
Answer: Option D
Solution:
Marketer, Suppliers or vendors and Distributors or retailers are considered a “key player” in the marketing industry.
44
A transaction in which the organization is making an initial purchase of an item to be used to perform a new job refers to which of the following purchases?
Discuss
Answer & Solution
Answer: Option C
Solution:
A transaction in which the organization is making an initial purchase of an item to be used to perform a new job refers to New-task purchase. New task purchase is the one purchase decision that has not been done previously by the business as they didnot have the need for a new product / task.
45
Which of the following is NOT considered a type of reseller?
Discuss
Answer & Solution
Answer: Option C
Solution:
Manufacturer is NOT considered a type of reseller. Resellers buy finished products and resell them to their customers for the purpose of making a profit. Resellers do not modify the products they buy.
46
Listing alternatives that will solve the problem at hand and determining the characteristics of each occurs during which stage of the final consumer’s decision process?
Discuss
Answer & Solution
Answer: Option C
Solution:
Listing alternatives that will solve the problem at hand and determining the characteristics of each occurs during evaluation of alternatives stage of the final consumer’s decision process. An Evaluation of Alternatives is the stage of the buyer decision process in where a consumer uses the information gathered in the Information Search to evaluate alternative brands in the product category.
47
The act of trading a desired product or service to receive something of value in return is known as which key concept in marketing?
Discuss
Answer & Solution
Answer: Option B
Solution:
The act of trading a desired product or service to receive something of value in return is known as Exchange key concept in marketing. Marketing involve exchange of a product between a saller and a buyer usually based on money. But modern marketing is not merely an exchange operation.
48
The most basic level of a product is called the:
Discuss
Answer & Solution
Answer: Option A
Solution:
The most basic level of a product is called the core product. This will benefit the product positioning within a market and effect the possible competition.
49
Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need is called a(n):
Discuss
Answer & Solution
Answer: Option C
Solution:
Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need is called a Product. A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.
50
Which of the following is not an element of the marketing mix?
Discuss
Answer & Solution
Answer: Option C
Solution:
Target market is not an element of the marketing mix. A target market refers to a group of potential customers to whom a company wants to sell its products and services.