Examination Paper Semester 1 : Marketing Management
IIBM Institute of Business Management
Semester-1 Examination Paper MM-100 Marketing Management
Section A: Objective Type (30 Marks)
It is a concept where goods are produced without taking into consideration the choices or tastes of customers Answer. b. Production concept
It involves individuals who buys products or services for personal use and not for manufacture or resale Answer. d. Consumer
It is the groups of people who interact formally or informally influencing each other’s attitude and behavior Answer. c. Reference groups
The concept of the product that passes through various changes in its total life known as Answer. a. Product life cycle
It refers to unique set of brands associations that brand strategist aspires to create or maintain Answer. c. Brand identity
It involves a pricing strategy that charges customers different prices for the same product or service Answer. b. Price discrimination
It refers to a arrangement where another company through its own marketing channel sells the products of one producers Answer. d. Strategic channel alliance
It involves facility consisting of the means & equipments necessary for the movement of passengers of goods Answer. c. Transportation
The advertising which is used to inform consumers about a new product or feature & to build primary demands is known as Answer. b. Informative advertising
An art that predict the likelihood of economic activity on the basis of certain assumptions Answer. b. Sales forecasting
Write a note on importance of consumer behavior for a business firm? Answer. A consumer is a person who purchases goods and services for his own personal needs. Consumer behavior can be defined as those acts of individuals which are directly involved in making decisions to spend their available resources in obtaining and using goods and services. Importance of Consumer Behavior for a business firm: a.
It will help to segment the market usefully.
It will aid in development of an effective marketing mix. c.
It will help to assess new opportunities concept is unlikely to get discarded for a very long time to come, because there would always be products and populations of such a nature that some companies would feel.
Define the term ‘Price’.
Answer. Price represents the value that is exchanged in a marketing transaction. A marketer usually sells a specific combination of need satisfying product or service, and additional services like warranty or guarantee. Pricing exercise begins with an understanding of corporate mission, target markets, and marketing objectives. Management must examine the cost to determine how much flexibility it has in establishing prices and the lowest price level essential to meet profit and other company objective.
Distinguish between Marketing Concept and Selling Concept? Answer. Marketing concept proposes that an organization should focus on customer needs and wants, coordinate its efforts, and Endeavour to accomplish organizational goals. The selling concept was the major means of increasing sales and profits during 1920s in the developed countries of that period. Companies believed that the most important marketing activities were personal selling, advertising, and distribution.
What are the new trends in advertisement?
Answer. Advertising means of informing as well as influencing the general public to buy products or services through visual or oral messages. New trends in advertising are following :
Informative Advertising: which is advertising used to inform consumers about a new product or feature and to build primary demand. b.
Persuasive advertising: which is advertising used to build...
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