All Free Management Sciences MCQs with Answers

• A. actual product
• B. positioning strategy
• C. competitive strategy
• D. value proposition

Explanation: Packaging is a visible and functional feature of the actual product, along with its design, quality, and brand name.

• A. products
• B. commodities
• C. barter system
• D. offered services

Explanation: Banking and hotel offerings are services because they provide intangible benefits rather than ownership of a physical good.

• A. convenience products
• B. shopping products
• C. unsought products
• D. sought consumer products

Explanation: Convenience products are purchased frequently with little comparison, so marketers make them available through a widespread distribution…

• A. product membership in category
• B. points of priority
• C. points of differences
• D. brands superiority

Explanation: A positioning statement normally begins by identifying the brand's membership in a product category, then explains its points of…

• A. convenience products
• B. shopping products
• C. specialty products
• D. unsought products

Explanation: High-priced photographic equipment is commonly treated as a specialty product because buyers often seek specific brands or models and…

• A. augmented product
• B. de-augmented product
• C. core customer value
• D. customer driven strategy

Explanation: At the final product-planning level, marketers add supporting benefits such as warranty, delivery, installation, and service to the actual…

• A. differentiable segment
• B. non-differentiable segments
• C. intermarket segmentation
• D. intramarket segmentation

Explanation: A segment is useful only when it responds differently from other segments to marketing efforts.

• A. actual product
• B. augmented product
• C. dis-augmented product
• D. intangible services

Explanation: A product's features, design, brand and quality form the actual product, so BlackBerry's on-the-go connectivity belongs here.

• A. tangible products
• B. exchange of goods
• C. services
• D. ownership of nothing

Explanation: Wireless communication is an intangible performance or benefit supplied to a customer, so it is a service rather than a tangible product.

• A. market segmentation
• B. targeting the market
• C. undifferentiated marketing
• D. differentiated marketing

Explanation: Segmentation divides the market, while targeting selects the segments the firm will serve.

• A. capital items
• B. specialty industrial products
• C. supplies and services
• D. augmented industrial products

Explanation: Installations and major equipment are capital items because they support production over a long period and usually require substantial…

• A. intermarket segmentation
• B. intramarket segmentation
• C. income segmentation
• D. psychographic segmentation

Explanation: Intermarket segmentation groups consumers with similar needs across different national markets, such as teenagers worldwide.

• A. shopping services
• B. less sought services
• C. convenient products
• D. specialty products

Explanation: Laundry detergent is normally bought frequently, with little comparison and minimal effort, making it a convenience product.

• A. specialty products
• B. less specialty products
• C. shopping products
• D. unsought products

Explanation: Shopping products are purchased after consumers compare alternatives on factors such as price, quality, style and suitability.

• A. characteristics of buyers
• B. buyer's decision process
• C. the cultural environment
• D. both a and b

Explanation: The buyer's black box contains both the buyer's characteristics and the buyer decision process, which explain how marketing stimuli become…

• A. consumer oriented marketing
• B. customer value marketing
• C. innovative marketing
• D. inbound ⁄ outbound marketing

Explanation: Consumer-oriented marketing organizes the marketing mix around customers' needs, perceptions, and viewpoints.

• A. brand familiarity
• B. brand conviction
• C. both a and b
• D. none of above

Explanation: Repeated exposure to advertising makes customers familiar with a brand, creating brand familiarity.

• A. complex buoying behavior
• B. variety seeking buying behavior
• C. dissonance reducing buying behavior
• D. habitual buying behavior

Explanation: Habitual buying behavior involves low consumer involvement and few perceived differences among brands, as with frequently purchased…

• A. actual product
• B. augmented product
• C. differentiation
• D. competitive strategy

Explanation: Product support services such as warranties, installation, delivery, and after-sales service extend beyond the physical product.

• A. geographic segmentation
• B. demographic segmentation
• C. psychographic segmentation
• D. behavioral segmentation

Explanation: Occupation and education are measurable socioeconomic characteristics of people, so they are demographic variables.