Marketing Management

571. The fourth stage of the stage gate system for new product development is:

  1. Concept development and testing
  2. Prototype testing
  3. Production
  4. Ideation and Screening
Correct answer: (B)
Prototype testing

572. Which of the following is not an advantage experienced by pioneers of new product?

  1. Pioneers are able to create high brand recall
  2. Pioneers take advantage of customer inertia as the customers continue to purchase the pioneer product
  3. Pioneers sometime launch products before the consumers are ready to accept the product
  4. Pioneers achieve economies of scale more quickly than followers
Correct answer: (C)
Pioneers sometime launch products before the consumers are ready to accept the product

573. Desirability, performance and communicability are related to ______________ characteristic of a brand image.

  1. Strong
  2. Uniqueness
  3. Favorability
  4. None of these
Correct answer: (C)
Favorability

574. Right branding increases ______________ of the product, which should be more than that of the generic product.

  1. Market Share
  2. Profit
  3. Sales
  4. Value
Correct answer: (D)
Value

575. Advertising and distribution are examples of ______________ type of measure which are used for brand health check.

  1. Perceptual
  2. Profitability
  3. Purchasing and sales
  4. Marketing support
Correct answer: (D)
Marketing support

576. A value-based pricing strategy involves which of the following?

  1. The pricing is based on amount of units that can be sold
  2. Setting price based on buyers' perceptions of value rather than on seller's cost
  3. The company adds up the costs of making the product and sets a price that covers the cost plus target profit
  4. None of the above
Correct answer: (B)
Setting price based on buyers' perceptions of value rather than on seller's cost

577. Which of the following will increase the value of index of retail saturation?

  1. Decrease in number of customers in trading area
  2. Decrease in average expenditure per person for the product in the trading area
  3. Decrease in total selling space allocated to related products in trading area
  4. None of these
Correct answer: (C)
Decrease in total selling space allocated to related products in trading area

578. ______________ focusses on two way communication and involvement with consumers through personalizing messages and tracking activity of online consumers.

  1. Interactive marketing
  2. Content marketing
  3. Location based marketing
  4. None of these
Correct answer: (A)
Interactive marketing

579. Identify which is an intangible component of a hair cutting salon:

  1. Imported hair care products
  2. Skill of the employee
  3. Certificate of excellence displayed on the counter
  4. None of these
Correct answer: (B)
Skill of the employee

580. The promotional goals a firm develops might be aimed at all of the following, EXCEPT:

  1. Increasing use of product
  2. Increasing awareness of the product
  3. Identifying potential market of the product
  4. All of these may be the aim of the company
Correct answer: (C)
Identifying potential market of the product
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