QID #1703
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
Corporate governance is concerned with the formation of which term objectives?
A
Very short
B
Short
C
Medium
D
Long
Correct Answer: D. Long
Corporate governance focuses on long-term direction, accountability and objectives.
Question: Corporate governance is concerned with the formation of which term objectives?
A. Very short
B. Short
C. Medium
D. Long
Correct Answer: D. Long
Explanation: Corporate governance focuses on long-term direction, accountability and objectives.
QID #1702
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
Ethics is mainly concerned with
A
The Wider Community
B
Business
C
Right and Wrong
D
Nothing
Correct Answer: C. Right and Wrong
Ethics deals with principles of right and wrong conduct.
Question: Ethics is mainly concerned with
A. The Wider Community
B. Business
C. Right and Wrong
D. Nothing
Correct Answer: C. Right and Wrong
Explanation: Ethics deals with principles of right and wrong conduct.
QID #1701
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
The idea of combining efforts across different customer channels is called
A
Channel integration
B
Channel Connection
C
Channel attachment
D
Channel interaction
Correct Answer: A. Channel integration
Channel integration combines different channels for consistent customer experience.
Question: The idea of combining efforts across different customer channels is called
A. Channel integration
B. Channel Connection
C. Channel attachment
D. Channel interaction
Correct Answer: A. Channel integration
Explanation: Channel integration combines different channels for consistent customer experience.
QID #1700
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
Which strategy ensures a seamless customer experience across various channels?
A
Omnichannel marketing
B
Multichannel marketing
C
Single-channel marketing
D
Direct marketing
Correct Answer: A. Omnichannel marketing
Omnichannel marketing integrates channels to provide a seamless experience.
Question: Which strategy ensures a seamless customer experience across various channels?
A. Omnichannel marketing
B. Multichannel marketing
C. Single-channel marketing
D. Direct marketing
Correct Answer: A. Omnichannel marketing
Explanation: Omnichannel marketing integrates channels to provide a seamless experience.
QID #1699
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
Logistics means having
A
The right thing
B
At right place
C
At right time
D
All the above
Correct Answer: D. All the above
Logistics ensures the right product at the right place and right time.
Question: Logistics means having
A. The right thing
B. At right place
C. At right time
D. All the above
Correct Answer: D. All the above
Explanation: Logistics ensures the right product at the right place and right time.
QID #1698
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
An integrative process that optimizes the flow of materials and supplies through the organization to the customer is called
A
Logistic Management
B
Inventory Management
C
Management
D
Programming
Correct Answer: A. Logistic Management
Logistics management manages flow of materials, goods and information.
Question: An integrative process that optimizes the flow of materials and supplies through the organization to the customer is called
A. Logistic Management
B. Inventory Management
C. Management
D. Programming
Correct Answer: A. Logistic Management
Explanation: Logistics management manages flow of materials, goods and information.
QID #1697
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
Which pricing method adds a fixed percentage to the cost of the product?
A
Mark-up Pricing
B
Bid Rigging
C
Price Fixing
D
Penetration Control
Correct Answer: A. Mark-up Pricing
Mark-up pricing adds a profit margin over cost.
Question: Which pricing method adds a fixed percentage to the cost of the product?
A. Mark-up Pricing
B. Bid Rigging
C. Price Fixing
D. Penetration Control
Correct Answer: A. Mark-up Pricing
Explanation: Mark-up pricing adds a profit margin over cost.
QID #1696
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
The point at which total revenue equals total cost is called
A
Break-even point
B
Skimming point
C
Demand point
D
Promotion point
Correct Answer: A. Break-even point
Break-even point is where total revenue equals total cost.
Question: The point at which total revenue equals total cost is called
A. Break-even point
B. Skimming point
C. Demand point
D. Promotion point
Correct Answer: A. Break-even point
Explanation: Break-even point is where total revenue equals total cost.
QID #1695
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Medium
Pricing based on variable costs of producing a product, not total costs, is called
A
Mark-up Pricing
B
Full Cost Pricing
C
Marginal Cost Pricing
D
Break-Even Concept
Correct Answer: C. Marginal Cost Pricing
Marginal cost pricing considers variable or additional cost.
Question: Pricing based on variable costs of producing a product, not total costs, is called
A. Mark-up Pricing
B. Full Cost Pricing
C. Marginal Cost Pricing
D. Break-Even Concept
Correct Answer: C. Marginal Cost Pricing
Explanation: Marginal cost pricing considers variable or additional cost.
QID #1694
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
An agreement between people on the same side of a market to buy or sell at a fixed price is called
A
Price Fixing
B
Bid Rigging
C
Price Discrimination
D
Price Skimming
Correct Answer: A. Price Fixing
Price fixing is an agreement to control the price of goods or services.
Question: An agreement between people on the same side of a market to buy or sell at a fixed price is called
A. Price Fixing
B. Bid Rigging
C. Price Discrimination
D. Price Skimming
Correct Answer: A. Price Fixing
Explanation: Price fixing is an agreement to control the price of goods or services.
QID #1693
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
When a product is first sold at a very high price and then gradually lowered, it is called
A
Price Fixing
B
Bid Rigging
C
Price Discrimination
D
Price Skimming
Correct Answer: D. Price Skimming
Price skimming starts with a high price and reduces it gradually.
Question: When a product is first sold at a very high price and then gradually lowered, it is called
A. Price Fixing
B. Bid Rigging
C. Price Discrimination
D. Price Skimming
Correct Answer: D. Price Skimming
Explanation: Price skimming starts with a high price and reduces it gradually.
QID #1692
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
In consumer behavior, culture, social class and reference group influences are related to purchase and
A
Economic situations
B
Situational influences
C
Consumption decisions
D
Physiological influence
Correct Answer: C. Consumption decisions
These factors influence purchase and consumption decisions.
Question: In consumer behavior, culture, social class and reference group influences are related to purchase and
A. Economic situations
B. Situational influences
C. Consumption decisions
D. Physiological influence
Correct Answer: C. Consumption decisions
Explanation: These factors influence purchase and consumption decisions.
QID #1691
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
A person’s groups that have direct or indirect influence on attitudes or behavior are called
A
Subculture
B
Family
C
Social class
D
Reference groups
Correct Answer: D. Reference groups
Reference groups influence attitudes, values and buying behavior.
Question: A person’s groups that have direct or indirect influence on attitudes or behavior are called
A. Subculture
B. Family
C. Social class
D. Reference groups
Correct Answer: D. Reference groups
Explanation: Reference groups influence attitudes, values and buying behavior.
QID #1690
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Medium
Factors particular to a time and place that affect current consumer behavior are known as
A
Situational influence
B
Motivators
C
Consumption triggers
D
Consumption influencers
Correct Answer: A. Situational influence
Situational influences are time-and-place specific factors affecting behavior.
Question: Factors particular to a time and place that affect current consumer behavior are known as
A. Situational influence
B. Motivators
C. Consumption triggers
D. Consumption influencers
Correct Answer: A. Situational influence
Explanation: Situational influences are time-and-place specific factors affecting behavior.
QID #1689
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Medium
Total customer value includes customer benefits such as economic, functional and _____ benefits, minus customer costs including cost of evaluation, _____, cost of using and cost of disposing.
A
Psychological and cost of obtaining
B
Demographic and cost of product
C
Demographic and cost of replacing
D
Economic and cost of owing
Correct Answer: A. Psychological and cost of obtaining
Customer benefits include psychological benefits and customer costs include cost of obtaining.
Question: Total customer value includes customer benefits such as economic, functional and _____ benefits, minus customer costs including cost of evaluation, _____, cost of using and cost of disposing.
A. Psychological and cost of obtaining
B. Demographic and cost of product
C. Demographic and cost of replacing
D. Economic and cost of owing
Correct Answer: A. Psychological and cost of obtaining
Explanation: Customer benefits include psychological benefits and customer costs include cost of obtaining.
QID #1688
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
Customers’ evaluation of the difference between all benefits and all costs of a product is called
A
Customer perceived value
B
Value
C
Price
D
Demand
Correct Answer: A. Customer perceived value
Customer perceived value compares total benefits with total costs.
Question: Customers’ evaluation of the difference between all benefits and all costs of a product is called
A. Customer perceived value
B. Value
C. Price
D. Demand
Correct Answer: A. Customer perceived value
Explanation: Customer perceived value compares total benefits with total costs.
QID #1687
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
Out of all 7 Ps, which element represents the business through staff and service interaction?
A
Price
B
People
C
Product
D
Promotion
Correct Answer: B. People
People represent employees, service providers and customer-contact persons in the 7 Ps.
Question: Out of all 7 Ps, which element represents the business through staff and service interaction?
A. Price
B. People
C. Product
D. Promotion
Correct Answer: B. People
Explanation: People represent employees, service providers and customer-contact persons in the 7 Ps.
QID #1686
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
Many people desire to own a BMW, but only a few can afford it. This is an example of
A
Need
B
Want
C
Demand
D
Status
Correct Answer: C. Demand
Demand means want backed by purchasing power.
Question: Many people desire to own a BMW, but only a few can afford it. This is an example of
A. Need
B. Want
C. Demand
D. Status
Correct Answer: C. Demand
Explanation: Demand means want backed by purchasing power.
QID #1685
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
A person who purchases any product or service is known as
A
Customer
B
Consumer
C
Marketing staff
D
Salesperson
Correct Answer: A. Customer
A customer is the person who buys a product or service.
Question: A person who purchases any product or service is known as
A. Customer
B. Consumer
C. Marketing staff
D. Salesperson
Correct Answer: A. Customer
Explanation: A customer is the person who buys a product or service.
QID #1684
AIIMS LPU MBA – EMKT503 (Marketing Management) Test Series LPU MBA EMKT503 Marketing Management Full Mock Test 1 Easy
When a customer continues to engage with the same organization over a long period, it is called
A
Customization
B
Customer Equity
C
Customers Need
D
Customer Retention
Correct Answer: D. Customer Retention
Customer retention means keeping customers connected with the same organization for a long period.
Question: When a customer continues to engage with the same organization over a long period, it is called
A. Customization
B. Customer Equity
C. Customers Need
D. Customer Retention
Correct Answer: D. Customer Retention
Explanation: Customer retention means keeping customers connected with the same organization for a long period.
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