1. Mode rn marketing is _________.

A. pric e oriented.
B. produc t oriented.
C. c onsumer oriente d.
D. p rofit orie nted.
ANSWER: C

2. A plac e for buying a nd se lling ac tivities is c a lle d _________.

A. market.
B. ma rketing.
C. Ma rket researc h.
D. m arket information.
ANSWER: A

3. The e xc ha nge value of a good / servic e in term s of mone y is ________.

A. produc t.
B. pric e.
C. buying.
D. selling.
ANSWER: B

4. The soc ia l aspec t of marketing is to ensure _________.

A. pric e.
B. dem and.
C. low pric e with high qua lity.
D. servic e goods.
ANSWER: C

5. Fac ilities for sale and purc ha se of a gric ultura l produc ts are a va ilab le in _________.
A. c ommodity exc hange.
B. regulated market.
C. stoc k exc ha nge.
D. unregula ted ma rket.
ANSWER: B

6. Whic h one of the following statements is c orrec t?

A. Selling inc lude s ma rketing.
B. Marketing inc ludes selling.
C. Selling a nd ma rke ting a re the sam e.
D. Marketing inc luding business.
ANSWER: B
7. _________ is a n eleme nt of buying.
A. fina nc ing.
B. a ssemb ling.
C. Risk b ea ring.
D. c ustome r se rvic es.
ANSWER: B
8. Sta nda rdiza tion inc lud es ________.
A. estim ating d emand
B. loc ating sourc es of supp ly
C. grad ing
D. p roduc t line.
ANSWER: C

9. The p rime objec t of ma rke ting is _________.

A. profit.
B. servic e.
C. sa les.
D. c onsumer sa tisfa c tion.
ANSWER: D

10. Ma rke ts a re c re ate d b y________ .

A. nature.
B. ec onomic forc e.
C. business men.
D. p roduc t.
ANSWER: B

11. The ma in a im of regula ted ma rke ts is ____.

A. elim ina te the m iddle man.
B. to earn m ore profit.
C. inc rea se the sales.
D. a void distribution c ost.
ANSWER: A

12. Sound ma rketing of a produc t is dep ended upon ____.

A. good prod uc t.
B. better pric es.
C. c onsumer.
D. p roper d istribution.
ANSWER: C

13. Agma rk stand ardization is give n to ______ .

A. industria l goods.
B. a gric ultura l goods.
C. c onsumer goods.
D. imp orted good s.
ANSWER: B

14. Ma rke ting begins and end with _________.

A. c onsum er.
B. transport.
C. pric e.
D. p roduc t
ANSWER: A

15. __________ is the first ste p in ma rketing.

A. Selling.
B. Buying.
C. Assembling.
D. Fina nc ing.
ANSWER: B
16. Tra nsportation c rea tes _____utility
A. time.
B. pla c e.
C. form.
D. storage.
ANSWER: B

17. Warehouse c rea tes _________ utility.

A. plac e.
B. time.
C. form.
D. storage.
ANSWER: B

18. Selling is an ac t of _________.

A. persua sion.
B. illusion.
C. forc ing.
D. c om munic ation.
ANSWER: A

19. Anything whic h p ossess utility is ________.

A. finished good s.
B. raw ma teria ls.
C. prod uc t.
D. stoc k.
ANSWER: C

20. _______ inc ludes the storage and protec tion of goods.
A. Wa rehouse.
B. Transport.
C. Store house.
D. Godown.
ANSWER: A
21. ________ is c onc e rned with the c ollec tion and c onc entra tion of goods of the same typ e from d ifferent
sourc es.
A. Selling.
B. Assemb ling.
C. Buying.
D. Tra ding.
ANSWER: B

22. _________ b rings ab out the c ha nge in the ownership of prod uc ts.
A. MIS.
B. Promotion.
C. Storing.
D. Exc ha nge.
ANSWER: D

23. ___________ is the most funda menta l a sp ec t for a ny merc hand ise transa c tions.
A. Financ ing.
B. Grading.
C. Insuranc e.
D. Pa c king.
ANSWER: A
24. _________ p la ys a signific a nt role in under developed c ountries, a s it is a multip lier of ac tivities.
A. Sa le s.
B. Buying.
C. Ma rketing.
D. Produc tion.
ANSWER: C

25. ________ type of ma rke ts dea ls with purc hase or sa le of gold.

A. Commod ity.
B. Bullion.
C. Re tail.
D. World.
ANSWER: B

26. In _____ m arket, goods are exc ha nged a nd the p hysic al d elivery of goods take s immed ia tely.
A. future.
B. bullion.
C. perfec t.
D. spot.
ANSWER: D

27. In _______ Market, there are la rge numbe r of buye rs and sellers me et.
A. imperfec t.
B. bullion.
C. perfec t.
D. reta il
ANSWER: C
28. Which one is wrong?
A. Customer is the c enter of a ll Ma rke ting ac tivitie s.
B. Marketing foc uses on the nee ds a nd wants of c ustome rs.
C. Ma rketing is a ll a bout selling goods and servic es.
D. It is c onc erne d a bout satisfying c ustomers through supp ly of goods and service s.
ANSWER: C

29. In evolution of ma rketing _________ stage was c onc erned only with m ass p roduc tion of good s.
A. barter syste m.
B. Produc tion orie nta tion.
C. c onsumer orienta tion.
D. sa les orienta tion.
ANSWER: B

30. Ma rke ting empha sizes on______.

A. manufac turers profit.
B. selle rs nee d.
C. c onsumers wants.
D. reta ilers ma rgin.
ANSWER: C

31. A group of produc ts that are c losely rela ted c a lled _________.
A. produc t Mix.
B. produc t line.
C. prod uc t ite ms.
D. p roduc t diversific ation.
ANSWER: B
32. Prod uc t mix is the set of a ll produc t _________.
A. lines and items.
B. lines.
C. items.
D. wid th.
ANSWER: A

33. ______ goods a re mea nt for final c onsum ption.

A. Convenienc e.
B. Consum er.
C. Spec ia lty.
D. Shopping.
ANSWER: B

34. ________ a re the gene ra l rules se t up by the ma nagement itself in m aking p roduc t d ec isions.
A. Prod uc t pac king.
B. Produc t mix.
C. Prod uc t p lanning.
D. Produc t polic y.
ANSWER: D

35. ____________________ a re produc ts b ought by individ uals a nd orga niza tions for further proc essing or
for use in c onduc ting a business.
A. Consumer p roduc ts.
B. Servic es.
C. Ind ustria l produc ts.
D. Spec ia lty p roduc ts.
ANSWER: C

36. The stage is the produc t life c yc le tha t foc uses on expa nding ma rket and c rea ting prod uc t a wa rene ss
a nd trial is the ________.
A. dec line sta ge.
B. introd uc tion sta ge.
C. maturity stage.
D. growth stage.
ANSWER: D

37. ________________ is sc reening new-produc t idea s in order to spot good id eas a nd drop poor ones a s
soon a s possib le.
A. Id ea gene ra tion.
B. Conc ept development and testing.
C. Id ea sc ree ning.
D. Brainstorming.
ANSWER: A

38. Tec hnologic a l a dva nc es, shifts in c onsume r tastes, and inc rea sed c om petition, a ll of whic h red uc e
de mand for a produc t are typic a l of whic h sta ge in the PLC?
A. dec line sta ge.
B. introd uc tion sta ge.
C. growth sta ge
D. m aturity sta ge.
ANSWER: D
39. The following are a ll ma jor sta ge s of a p roduc t life c yc le exc ept _________.
A. sa les de c line.
B. ma rket imp lem entation.
C. market introd uc tion.
D. m arket maturity.
ANSWER: B

40. The c orre c t ste ps in the new produc t developme nt p roc ess a re ________.
A. idea ge nera tion, sc re ening, idea e va luation, d evelopm ent, a nd c omm erc ia lization.
B. idea c rea tion, ma rket rese arc h a nd development, and introduc tion of produc t.
C. prod uc t positioning, id ea sc ree ning, evalua tion, a nd c om merc ia liza tion.
D. idea sc reening, id ea de velopm ent, m arketing re sea rc h, a nd c om merc ia liza tion.
ANSWER: A

41. Func tion of exc hange is ___________.

A. Buying a nd a sse mbling.
B. Ad ve rtising
C. Wa re house.
D. Cred it sales.
ANSWER: A
42. Prod uc t rep resents _________.
A. ec onomic a c tivity.
B. c onsumers need.
C. dema nd.
D. b undle of exp ec ta tions.
ANSWER: D

43. ________ goods a re mea nt for final c onsum ption by c onsumers a nd not for sale.
A. Consumer goods.
B. Industria l good s.
C. Convenienc e goods.
D. Shopping goods.
ANSWER: A

44. __________ goods a re those whic h are use d for furthe r p rod uc tion of goods.
A. Consumer goods.
B. Industria l good s.
C. Convenienc e goods.
D. Shopping goods.
ANSWER: B

45. Goods with uniq ue c harac teristic s a re c a lled a s______.

A. Consumer goods.
B. Industria l good s.
C. Convenienc e goods.
D. Spec ia lty goods.
ANSWER: D
46. _____ ma y be defined as the exc ha nge of goods or servic es in te rms of money.
A. Prod uc t.
B. Pric e.
C. Gra ding.
D. Brand ing.
ANSWER: B
47. Selling the sa me prod uc t a t diffe rent pric es is known a s ______________
A. pric e lining.
B. dua l pric ing.
C. geogra phic a l pric ing.
D. m onop oly pric ing.
ANSWER: B

48. Fixing a high pric e for a new produc t will be c a lled a s _________.
A. c ustomary pric ing.
B. dua l pric ing.
C. pric e segmenta tion.
D. p ric e skimming.
ANSWER: D

49. Pric ing b ased on a rea is c alled as ____________.

A. domestic pric ing.
B. ge ographic a l p ric ing.
C. skimming pric ing.
D. c ost plus pric ing.
ANSWER: B

50. _________ is pric e a t whic h a reta iler sells the produc ts to his buyers.
A. Whole sale pric e.
B. Reta il pric e.
C. FOB pric e.
D. Administered p ric e.
ANSWER: B