Marketing MCQs

✅ The correct answer is option B.
In commerce there are three types of price discrimination that exist. The exact price discrimination method that is used depends on the factors within the particular market.

First degree price discrimination: the monopoly seller of a good or service must know the absolute maximum price that every consumer is willing to pay and can charge each customer that exact amount. This allows the seller to obtain the highest revenue possible.
Second degree price discrimination: the price of a good or service varies according to the quantity demanded. Larger quantities are available at a lower price (higher discounts are given to consumers who buy a good in bulk quantities).
Third degree price discrimination: the price varies according to consumer attributes such as age, sex, location, and economic status.

✅ The correct answer is option A.
Reliability, responsiveness, assurance, empathy and tangibles are the five principle dimensions to judge service quality.

✅ The correct answer is option B.
In relationship marketing firms focus on Long-term relationships with customers. Relationship marketing is about forming long-term relationships with customers.

✅ The correct answer is option D.
A marketing philosophy summarized by the phrase ‘a stronger focus on social and ethical concerns in marketing’ is characteristic of the Societal marketing period. Societal Marketing emphasizes on social responsibilities and suggests that to sustain long-term success, the company should develop a marketing strategy to provide value to the customer’s to maintain and improve both the customers and society’s well being better than the competitors.

✅ The correct answer is option B.
Compared with low-contact services, customers of high-contact services are more likely to judge service quality on the basis of Processes used in carrying out the service.

✅ The correct answer is option E.
David Packard of Hewlett-Packard once said, “Marketing is far too important to leave to The marketing department.” A marketing department promotes your business and drives sales of its products or services. It provides the necessary research to identify your target customers and other audiences. Depending on the company’s hierarchical organization, a marketing director, manager or vice president of marketing might be at the helm.

✅ The correct answer is option C.
Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called Accessory equipment. Accessory equipment needs to be used in the production process in any business firm.

✅ The correct answer is option A.
The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition.

✅ The correct answer is option C.
The basic role of promotion is Communication. Promotion is all about communication because promotion is the way in a business makes its products known to the customers, both current and potential. The main aim of promotion is to ensure that customers are aware of the existence and positioning of products.

✅ The correct answer is option A.
Electronic channels are the only service distributors which o not require direct human interactions. Electronic channels overcome some of the problems associated with service inseparability and allow a form of standardisation not previously possible in most services.