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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-8 section-1

Each section contains 100 MCQs on Marketing .
71
According to the text, a product is
Discuss
Answer & Solution
Answer: Option A
Solution:
According to the text, a product is everything the customer receives in an exchange.
72
An example of a convenience consumer product is
Discuss
Answer & Solution
Answer: Option B
Solution:
An example of a convenience consumer product is Petrol. A convenience product is a consumer product or service that customers normally buy frequently, immediately and without great comparison or buying effort.
73
Which one of the following is NOT an industrial product?
Discuss
Answer & Solution
Answer: Option D
Solution:
Computer software to help people complete personal tax forms is NOT an industrial product. An industrial product is a good used by a company for business consumption.
74
Sai Nath called several airlines to compare rates and chose a flight on British Midland as it had a better reputation for service and competitive prices. The airline ticket is an example of which type of product?
Discuss
Answer & Solution
Answer: Option B
Solution:
The airline ticket is an example of which type of product Shopping. Shopping products refer to items that the consumers purchase less frequently and compare with available alternatives in the market. Consumers need time, planning and efforts to take the final decision whether to buy the product or not.
75
Large tools and machines used in a production process for a considerable length of time are classified as
Discuss
Answer & Solution
Answer: Option A
Solution:
Large tools and machines used in a production process for a considerable length of time are classified as Major equipment. Process equipment can be used for tasks a varied as storage, controlling flow, and containing chemical reactions.
76
Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called
Discuss
Answer & Solution
Answer: Option C
Solution:
Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called Accessory equipment. Accessory equipment needs to be used in the production process in any business firm.
77
Products that are used directly in the production of a final product but are not easily identifiable are categorised as
Discuss
Answer & Solution
Answer: Option E
Solution:
Products that are used directly in the production of a final product but are not easily identifiable are categorised as Process materials. Materials processing is the series of operations that transforms industrial materials from a raw-material state into finished parts or products.
78
Industrial products are
Discuss
Answer & Solution
Answer: Option C
Solution:
Industrial products are traditionally classified according to their characteristics and intended uses. An industrial product is a good used by a company for business consumption.
79
A company designs the product with little or no input from customers, the company is practicing which of the following concept?
Discuss
Answer & Solution
Answer: Option A
Solution:
A company designs the product with little or no input from customers, the company is practicing Product concept. The idea of production concept – “Consumers will favor products that are available and highly affordable”. This concept is one of the oldest Marketing management orientations that guide sellers.
80
Which of the following 4Ps of marketing mix involves decisions regarding channels coverage, assortments, locations, inventories or transports?
Discuss
Answer & Solution
Answer: Option C
Solution:
Place of the 4Ps of marketing mix involves decisions regarding channels coverage, assortments, locations, inventories or transports. Place decisions outline where a company sells a product and how it delivers the product to the market. The goal of business executives is to get their products in front of the consumers most likely to buy them.