Marketing MCQs

✅ The correct answer is option C.
Life cycle cost refers to the product’s purchase cost plus the discounted cost of maintenance and repair less the discounted salvage value. Life-cycle costing is a method of calculating the total cost of ownership over the life span of the industrial product. It can be especially useful in the marketing of industrial products that sell for high initial prices, but which provide long-run cost savings.

✅ The correct answer is option A.
A channel of distribution is any series of firms (or individuals) who participate in the flow of products to final user or customer. A distribution channel is a chain of businesses or intermediaries through which a good or service passes until it reaches the final buyer or the end consumer. Distribution channels can include wholesalers, retailers, distributors, and even the Internet.

✅ The correct answer is option A.
Telemarketing is NOT a part of marketing communication mix. Telemarketing is a marketing strategy that involves connecting with customers over the telephone or, more recently, through web-based video conferencing.

✅ The correct answer is option E.
Added features to an offering are called perceived service features. Perceived quality can be defined as the customer’s perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternatives.

✅ The correct answer is option A.
In marketing theory, every contribution from the supply chain adds Value to the product. A basic marketing theory states that to maximize sales, a company must position its products or services in the marketplace in such a way that consumers believe they need a particular product for service or that a product or service they need has a particular benefit.

✅ The correct answer is option D.
The promotion “P” of marketing is also known as Marketing Communication. Marketing communications are those techniques that the company or a business individual uses to convey promotional messages about their products and services.

✅ The correct answer is option D.
Institutional markets include a wide variety of profit and non-profit organizations, such as hospitals, government agencies, and schools, which provide goods and services for the benefit of society. Institutional markets are entities such as cafeterias in state and local government buildings, schools, universities, prisons, hospitals, or similar organizations. These institutions are becoming more interested in buying local food, which provides a new marketing opportunity for a medium to large-scale farm.

✅ The correct answer is option B.
A consumer contest is an example of Sales promotion. Sales promotion is the process of persuading a potential customer to buy the product.

✅ The correct answer is option A.
Physical evidence is the environment in which the service is delivered and where the firm and customer interact and any tangible components that facilitates performance or communication of the service.

✅ The correct answer is option D.
SERVQUAL compares perceptions to what a customer should expect from a firm the delivers high-quality services. Service quality (SQ), in its contemporary conceptualisation, is a comparison of perceived expectations (E) of a service with perceived performance (P), giving rise to the equation SQ=P-E.