MGT503 MIDTERM SOLVED PAPERS

Question No 31 Sampling requires the answer to three questions. Which of the following is an inappropriate one?

► Who is to be sampled (what sampling unit)? 

► How many people should be surveyed (what sample size)?

► Why should they be sampled (justification)?

► How should the people be chosen (what sampling method)?

Question No 32 Relationship marketing is a consistent application of up to date knowledge of individual customers to product and service design. Why it is communicated interactively to customers?

► For delivering short term value & satisfaction to customers

► For delivering long term value & satisfaction to customers

► For delivering short term value to management

► For delivering long term value to management

Question No 33 Demographic segmentation divides the market into groups based on which of the following variables?

► Size, location, industry, customer          ► Size, company, industry, technology

► Location, size, occupation, race         ► Customer, technology, company, industry

Question No 34 When the size, purchasing power and profiles of business market segments can be determined, they are said to possess the requirement of being what?

► Measurable         ► Accessible             ► Substantial           ► Actionable

Question No 35 Which one of the following sets reflects the marketing strategy statement in new product development?

► Idea generation; idea screening; concept development

► Idea generation; concept development; concept testing

► Target market description; planned product positioning; sales goals

► Idea generation; test marketing; commercialization

Question No 36 The concepts of exchange and relationships lead to the concept of a market. Which one of the following sets reflects the market?

► Actual buyers & Potential buyers             ► Whole sellers & Retailers

► Consumers & Customers                             ► Agents & Brokers

Question No 37 Which one of the following sets represents 4 C’s of the marketing mix? ► Customer solution, cost, convenience, communication

► Customer, cost, convenience, comfort

► Convenience, communication, coverage, cost

► Cost, coverage, communication, consultancy

Question No 38 Supply's sales force of ABC Company continues to expand, the firm plans to add a fleet of company cars to its sales compensation package. For ABC Company, this would represent which one of the following purchases?

► New-task        ► Modified rebuy            ► Straight rebuy            ► Repetitive

Question No 39 The Cost to attract a new customer is how much more than to keep a current customer satisfied.

► 5 to 10 times            ► 6 to 12 times          ► 10 to 20 times     ► 10 to 15 times

Question No 40 XYZ retail store tries to satisfy all its customers and makes every effort in achieving its sales. This is because they believe that losing a customer means not only losing a single sale but the entire stream of purchase that customer will make in his life time of patronage. This phenomenon is known as:

► Customer Lifetime Value           ► Customer Equity

► Superior Customer Value             ► Customer Satisfaction