Practice Set (BCM501)

Assignment- 1
Find out the most suitable answer.
1. Which factor is relevant for the concept of selling?
a. Views business as b. Converts customer needs into
customer satisfying product
process
c. Views business as goods d. Consumer determines price; price
producing process determines cost
2. Which factor is relevant for the concept of marketing?
a. Seeks to quickly convert b. All departments operate in a highly
products in cash integrated manner
c. Cost determines the price d. Different departments operate as
separate water tight compartments
3. The American Marketing Association defines marketing as follows: “the process of
planning and executing the conception, pricing, promotion, and distribution of ideas,
goods, and services to create exchanges that ______________individual and
organizational goals.” [fill in the blank]
a. Convince b. manipulate
c. satisfy d. define
4. The American Marketing Association defines a market as “the aggregate
_______________of the potential buyers for a product or service.” [fill in the blank]
a. demand b. purchase
c. interest d. expenditure
5. ____________________ is the process of obtaining a desired product from another
party by giving the party something in return [fill in the blank]
a. Transaction b. Exchange
c. Value d. None of these
6. ____________________ is a trade of value between two or more parties
a. Transaction b. Exchange
c. Value d. None of these
7. Which one is a benefit of Demand Forecasting?
a. company does not store b. company generate supernormal
huge inventories profits
 c. company can build core d. company can design better product
competency
8. Marketing is the process of identifying the need of
a. Consumer b. competitor
c. None of these d. Both of them
9. Among the given options which one is not a part of demography-based segmentation
parameter?
a. Gender b. age
c. education d. none of these
10. Among the given options which one is not an element of Macro Environment study?
a. Legal b. Political
c. Psychological d. Economical
11. Marketing Myopia is
a. Far sightedness b. Short sightedness
c. Long sightedness d. None of these
12. A key ingredient of the marketing management process is insightful, ________
marketing strategies and plans that can guide marketing activities.
a. Creative b. Macro
c. Micro d. Niche
13 According to a chapter story about H&M clothing stores, H&M is able to put products
out quickly and inexpensively by all of the following EXCEPT ________.
a. having few middlemen b. buying large volumes
and owning no factories
c. having extensive d. having total control of its
experience in the clothing distribution channel from the time
industry the goods are produced until the
time they are sold
14. The task of any business is to deliver ________ at a profit.
a. customer needs b. products
c. customer value d. products and services
15. Which one is an example of a tangible product
a. Movie b. Popcorn
 c. Parking d. Public Transport
16. In a hypercompetitive economy such as ours, a company can win only by fine-tuning
the value delivery process and choosing, providing, and ________ superior value.
a. Communicating b. selecting target markets with
c. composing d. Developing
17. “Provide the customer with whatever he wants but not at the cost of society” This
concept is known as
a. Marketing b. Societal Marketing
c. Branding d. Advertising
18. When you are searching for specific information from a nonspecific source that is
known as
a. Formal Search b. Informal Search
c. Integrative Search d. Intensive Search
19. The traditional view of marketing is that the firm makes something and then
________ it.
a. Markets b. Sells
c. Distributes d. Prices
20. The ________ is a tool for identifying ways to create more customer value.
a. value chain b. customer survey
c. brand loyalty index d. promotion channel
21. Packaging is a part of;
a. value chain b. customer survey
c. brand loyalty index d. promotion channel
22. ‘When the demand for one product increases the demand for another’ is an explanation
of;
a. Joint demand b. Derived demand
c. Fluctuating demand d. Negative demand
23. The ________ in the value chain cover the sequence of bringing materials into the
business (inbound logistics), converting them into final products (operations),
shipping out final products (outbound logistics), marketing them (marketing and
sales), and servicing them (service).
 a. operations process b. manufacturing process
c. primary activities d. secondary activities
24. “the primary benefits of the MIS can be useful in the areas of functional integration,
_______________, strategy development, and strategy implementation” Harmon
(2003), (Fill in the blank)
a. market monitoring b. product development
c. quality monitoring d. market development
25. Procurement, technology development, human resource management, and firm
infrastructures is handled in certain specialized departments and are called ________.
a. materials handling b. support activities
c. inventory activities d. primary activities
26. The additional P’s of marketing are
a. People, Physical evidence, b. People, Physical evidence, Process
Package
c. People, Process, Packaging d. Physical evidence, Process, Packaging