Marketing Management Multiple Choice Questions and Answers

The marketing management field is constantly evolving and changing.

As a result, it is important to be able to ask and answer questions about marketing management in order to stay up-to-date on the latest trends.

To help you learn how to do just that, we have put together a list of 80 multiple choice questions and answers about marketing management.

Marketing Management Multiple Choice Questions and Answers pdf for the preparation of MBA BBA and other academic and competitive exams 2024

Brief Introduction and Definition of Marketing Management

1. Marketing management is the process and activities involved in creating, implementing, measuring, and managing marketing programs.

2. The objectives of marketing management are to create value for customers by identifying and satisfying their needs.

3. Marketing management includes the coordination of all elements of a company’s marketing strategy, from market research to product development and distribution.

4. The key elements of a successful marketing program are effective communication, targeted promotion, competitive pricing, and quality products/services.

5. Marketing managers must be able to identify customer needs and develop creative solutions that meet those needs while minimizing costs.

6. marketing management helps companies achieve their strategic objectives by integrating all aspects of their business into a cohesive plan that meets the needs of customers everywhere they shop or visit.

Marketing Management Multiple Choice Questions and Answers

There are many different questions and answers related to marketing management, so be sure to do your research and ask around to find the best solution for your business:-

1. The term marketing mix was coined by ___.
Answer: Neil H. Borden

2. ___ categorized the components of the marketing mix into the universally recognized 4 Ps of marketing – Product, price, place, and promotion.
Answer: E. Jerome McCarthy

3. ___ contributed to the mix by adding an additional 3 Ps to the existing mix – People, process, and physical evidence.
Answer: Boom and Bitner

4. ___ normally refers to the goods or services offered by a company that satisfies the needs or wants of a customer.
Answer: Product

5. While preparing the product mix, it is important to communicate the core benefit of the product to the consumer.
Answer: True

6. The various types of differentiation-based strategies are ___, ___, and ___.
Answer: Differentiation is based on the product, Differentiation based on distribution, and Differentiation based on the promotion

7. The factors which affect an organization’s environment can be of 2 types:– ___ and ___.
Answer: Controllable factors and uncontrollable factors

8. Preparing the marketing budget involves___, ___, ___, and ___.
Answer: Sales forecasting, budgeting, expenses, and profit planning

9. The examples of marketing information that can be used for control are Information on marketing objectives and goals, Information on actual performance in the market, and Information on threats and opportunities.

Answer: True

10. What adds the value of time and place utility in the supply chain?
Answer: Logistics

11. Product refers to the physical entity offered by the company to its customers, which is a combination of ___ and ___ qualities.
Answer: Tangible and intangible

12. The product may be intangible, in the form of ___
Answer: Services

13. Consumer Goods are meant for final consumption by consumers and not for sale.
Answer: True

14. Product planning starts with the creation of product ___.
Answer: Ideas

15. Which of the following is not the source of product ideas?
a) Research and development personnel
b) Marketing personnel
c) Associated companies in other countries
d) Accountants
Answer: d) Accountants

16. ___ is also known as a dual package.
Answer: Re-use package

17. After-sale services refer to various services rendered by a business firm to its customer after the sale of goods is affected.
Answer: True

18. The practice of placing several units in one container is known as ___.
Answer: Multiple packaging

19. Which of the following is NOT the strategy of product mix?
a) Expansion of Product mix
b) Contraction of Product mix
c) Alteration of existing products
d) Pricing the product
Answer: d) Pricing

20. A major decision in product policy is related to the managing of ___.
Answer: The product mix

21. In the ___ stage, the sales are at a peak and a further increase is not possible.
Answer: Saturation

22. When ___ starts declining, buyers go for a newer and better product.
Answer: Sales

23. ___ is the first stage in the life of a product.
Answer: Introduction

24. A ___ is the symbol of the brand represented as a picture.
Answer: Logo

25. The brand name or logo should not be used generically or commonly, as this leads to the dilution of the brand value.
Answer: True

26. The brand name and logo should be chosen so that they cannot be registered and protected legally.
Answer: False

27. In an ___ brand type, there is no relationship between the brands of a company, as each brand is promoted differently and independently.
Answer: Individual

28. ___ denotes the grouping of different products under a single brand.
Answer: Umbrella brand

29. The type of branding used for introducing new products in an existing lineup, is called?
a. Individual brand
b. Umbrella brand
c. Private Label
d. Family brand
Answer: (d) Family brand

30. Branding helps the firm to establish ___, as it aids in repeat sales and creates the market for the product.
Answer: Market control

31. USP stands for ___ and is an important advantage of branding
a. Unique Selling Proposition
b. Unequal Selling Pitch
c. Unidentified Shuttle Position
d. Unmanned Space Probe
Answer: (a) Unique Selling Proposition

32. The cost of advertising and promotions can increase the retail price of products by ___ to ___%
Answer: 20 to 25%

33. The concept that the brand must be positioned in a manner that it occupies a particular space in the consumer’s mind continuously is called ___.
Answer: Renting mind space

34. According to Martin Roll, the three components of brand equity are ___, ___, and ___.
Answer: Customer knowledge, customer preference, and financial potential

35. ___ can be defined as the intrinsic value of the brand, expressed in the value of money that the customer is willing to pay for choosing the brand over its competition.
Answer: Brand equity

36. Expand ROI ___.
Answer: Return on Investment

37. The influencing factors for a price decision can be divided into Internal Factors and ___.
Answer: External factors

38. Which of these determines revenue?
a) Product
b) Price
c) Promotion
d) Salesmanship
Answer: b) Price

39. In ___ period, the prices are reduced to a sizeable extent to maintain the level of turnover.
Answer: Recession

40. The price policy must be flexible, and not ___.
Answer: Rigid