Marketing MCQ Questions and Solutions with Explanations | Management

In a Marketing orientation, the role of marketing research is to determine customer needs and how well the company is satisfying them. Production orientation follows the theory that any product of high quality can be readily sold.

When a manager focuses on making whatever products are easy to produce, and then trying to sell them, that manager has a Production orientation. Production orientation follows the theory that any product of high quality can be readily sold.

In addition to businesses, the marketing concept is also applicable to Government agencies, Religious groups and Fine arts organizations.

The controllable variables a company puts together to satisfy a target group is called the Marketing mix. The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market.

When customer expectations regarding product quality, service quality, and value-based price are met or exceeded, Customer satisfaction is created. Customer satisfaction indicates the fulfillment that customers derive from doing business with a firm.

In relationship marketing firms focus on Long-term relationships with customers. Relationship marketing is about forming long-term relationships with customers.

A marketing philosophy summarized by the phrase 'a stronger focus on social and ethical concerns in marketing' is characteristic of the Societal marketing period. Societal Marketing emphasizes on social responsibilities and suggests that to sustain long-term success, the company should develop a marketing strategy to provide value to the customer's to maintain and improve both the customers and society's well being better than the competitors.

The basic role of promotion is Communication. Promotion is all about communication because promotion is the way in a business makes its products known to the customers, both current and potential. The main aim of promotion is to ensure that customers are aware of the existence and positioning of products.

If the aim of the promotion to introduce a new consumer product is to achieve high awareness levels, the firm will most likely make heavy use of advertising in the promotional mix. The promotional mix is one of the 4 Ps of the marketing mix. It consists of public relations, advertising, sales promotion and personal selling.

A consumer contest is an example of Sales promotion. Sales promotion is the process of persuading a potential customer to buy the product.