Marketing Aptitude : Quiz 2

1.A name, term, sign, symbol, or design used to identify the products of one firm and to differentiate them from competitive offerings is commonly called as ?
(A)Trademark
(B)Brand
(C)Class

2.A name, term, sign, symbol, or design used to identify the products of one firm and to differentiate them from competitive offerings and also has been given legal protection and has been granted solely to its owner is called ____?
(A)Brand
(B)Trademark
(C)Agmark

3.Nike is the first thing which comes to a customer's mind in Running Shoe Product category. This is because of ________?
(A)Quality
(B)Cost
(C)Brand awareness

4.Which among the following is true about packaging of a product ?
(A)packaging helps in branding and promoting brand loyalty.
(B)Packaging is a major expense in marketing
(C)packaging increases marketing costs thus reducing the profits

5.Which among the following are most essential aspects of labeling?
(A)Statutory obligations
(B)Aesthetics
(C)Product Promotion

6.Which among the following affect Pricing strategy of a firm?
(A)Profit & Volume
(B)Profit , Volume & Competition
(C)Profit, Volume, Competition & Prestige

7.Markup pricing is an example of _______?
(A)Cost based Approach
(B)Buyer Based Approach
(C)Competition Based Approach

8.Which pricing approach is used to avoid the problem of overpricing and under pricing?
(A)Cost Based Approach
(B)Buyer Based Approach
(C)Competition Based Approach

9.Which among the following is an example of Competition based pricing ?
(A)Firms Bidding for a particular project
(B)9 % mark up on cost ex factory
(C)Higher price of a highly popular brand of shoe

10.In the case of prestige goods the demand is _______?
(A)price sensitive
(B)Not price sensitive
(C)Not price sensitive till a level

11.If you are a marketing manager of a firm you would prefer the customers who are _________?
(A)less price sensitive.
(B)more price sensitive
(C)depends upon the marketing mix

12.Some people will be happy to pay a high price for anything that is new and unique. Companies use what kind of pricing strategy for this ?
(A)Penetration pricing
(B)Skimming Pricing
(C)Cost Plus pricing

13.While introducing a new product into the market , a company will use low prices (penetration pricing) which enables the firm to _____?
(A)getting established as the market share champion
(B)discouraging market entry by competitors,
(C)creating broad-based demand for the product
(D)all of above

14.Actual physical movement of the product from the manufacturers through all the parties who take physical possessions of the product from the point of production to the final consumer is called as ________?
(A)Transportation
(B)Product Flow
(C)Marketing Channel

15.Negotiation Flow in the marketing Channel does not involve_______?
(A)Wholesaler
(B)Transporting Company
(C)Retailer