Free Marketing MCQs with Answers
1,700 Marketing MCQs from Management Sciences, each with the correct answer and a written explanation of why it is correct. Free and unlimited, with no account needed.
Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
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- A. determine incurred costs
- B. design product
- C. assess needs of customer
- D. set target price
Explanation: Value-based pricing typically begins by assessing customer needs and perceived value, then setting a target price based on that value…
Correct answer: set target price- A. Business portfolio
- B. Strategic plan
- C. Mission statement
- D. Vision statement
Explanation: A business portfolio is the complete collection of businesses and products owned by a company.
Correct answer: Business portfolio1323. The procedure of arranging a product to occupy distinct place in target customers mind is called?
- A. Market segmentation
- B. Targeting
- C. Differentiation
- D. Positioning
Explanation: Positioning means arranging a product so it occupies a clear, distinctive place in the target customer's mind.
Correct answer: Positioning- A. upper middles
- B. working class
- C. lower uppers
- D. upper uppers
Explanation: Upper uppers are the social class associated with inherited wealth, established family status, and long-standing privilege.
Correct answer: upper uppers- A. innovators
- B. early majority
- C. laggard
- D. early adopter
Explanation: The early majority adopts new ideas after seeing evidence that they work, but they are not usually opinion leaders.
Correct answer: early majority- A. Portfolio analysis
- B. Strategic Business Units (SBU's)
- C. Both a and b
- D. None of above
Explanation: Strategic business units are the company's key businesses or product-market units, each with its own strategy and competitors.
Correct answer: Strategic Business Units (SBU's)- A. difficult products
- B. sought services
- C. sought products
- D. convenient products
Explanation: Fast food is generally a convenience product because consumers buy it frequently, quickly, and with little comparison or effort.
Correct answer: convenient products1328. The products or market offering bought by consumers for personal consumption are classified as?
- A. augmented product
- B. consumer products
- C. industrial products
- D. intangible services
Explanation: Consumer products are goods or services purchased for personal or household use.
Correct answer: consumer products- A. competition based pricing
- B. customer value based pricing
- C. cost based pricing
- D. discount and bonus pricing
Explanation: The three major pricing approaches are customer-value-based, cost-based, and competition-based pricing.
Correct answer: discount and bonus pricing- A. Stars
- B. Cash Cows
- C. Question marks
- D. Dogs
Explanation: In the BCG growth-share matrix, a high-market-growth and high-relative-market-share business is a Star.
Correct answer: Stars- A. deficient products
- B. pleasing products
- C. salutary products
- D. desirable products
Explanation: Desirable products provide both immediate satisfaction and long-term benefits, combining the consumer appeal of pleasing products with the…
Correct answer: desirable products- A. deficient products
- B. pleasing products
- C. salutary products
- D. desirable products
Explanation: Salutary products may not be attractive or satisfying immediately, but they provide long-term benefits, such as healthier or safer…
Correct answer: salutary products- A. Targeting
- B. Market segmentation
- C. Positioning
- D. Differentiation
Explanation: Targeting follows segmentation and involves evaluating segments for attractiveness and profitability before selecting which ones to serve.
Correct answer: Targeting- A. price
- B. tax
- C. discount
- D. value added tax
Explanation: Price is the only marketing-mix element that directly generates revenue; product, place and promotion require expenditure.
Correct answer: price- A. Stars
- B. Dogs
- C. Cash Cows
- D. Question marks
Explanation: In the BCG matrix, SBUs with low market share in a low-growth market are Dogs.
Correct answer: Dogs- A. deficient products
- B. pleasing products
- C. salutary products
- D. desirable products
Explanation: Deficient products provide neither immediate satisfaction nor long-term benefits to consumers.
Correct answer: deficient products- A. Vision statement
- B. Mission statement
- C. Value proposition
- D. Both a and b
Explanation: An organization's purpose explains why it exists and what it seeks to accomplish, which is expressed in its mission statement.
Correct answer: Mission statement- A. Place
- B. Product
- C. Price
- D. Promotion
Explanation: Credit terms affect the amount and timing of payment, so they are part of pricing decisions.
Correct answer: Price- A. social class
- B. culture
- C. subculture
- D. both b and c
Explanation: A social class is a relatively permanent, structured division of society whose members share values, interests and often socioeconomic…
Correct answer: social class1340. The situation in which company is making more sales with its existing product is classified as?
- A. Market development
- B. Market penetration
- C. Product development
- D. Diversification
Explanation: Market penetration means selling more of an existing product to an existing market, usually through promotion, pricing or wider…
Correct answer: Market penetration