Marketing MCQs

✅ The correct answer is option C.
Market-penetration pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share. Market penetration pricing is a pricing strategy that sets a low initial price for a product. The goal is to quickly attract new customers based on the low cost. The strategy is most effective for increasing market share and sales volume while discouraging competition.

✅ The correct answer is option D.
Mr. Lopez buys goods and services for use in the production of products that are sold and supplied to others. Mr. Lopez is involved in business buyer behavior. Business buyer behaviour is the intent and behaviour shown by companies and employees into making purchases for the organization. Business buying behaviour is the concept of understanding the needs and wants of a business and making appropriate purchases, which ultimately help a company get profits.

✅ The correct answer is option C.
Place of the 4Ps of marketing mix involves decisions regarding channels coverage, assortments, locations, inventories or transports. Place decisions outline where a company sells a product and how it delivers the product to the market. The goal of business executives is to get their products in front of the consumers most likely to buy them.

✅ The correct answer is option E.
Services cannot be stored. This describes the perishability characteristic of services. Perishability is used in marketing to describe the way in which a service capacity cannot be stored for sale in the future. Services cannot be stored, saved, returned, or resold once they have been used. Once rendered to a customer, the service is completely consumed and cannot be delivered to another customer.

✅ The correct answer is option D.
Consumer behavior is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants. It refers to the actions of the consumers in the marketplace and the underlying motives for those actions.

✅ The correct answer is option A.
Limited decision making constitutes moderate consumer behavior, but still involves time and effort searching for and comparing alternatives. Limited decision making is consumer decision making that is used when purchasing products that require a moderate amount of time and effort to compare models and brands before making a choice.

✅ The correct answer is option A.
A service can be defined as “any activity or benefit that one party can offer another that is essentially intangible and that does not result in the ownership of anything.” Services are usually intangible and time-based, and occur multiple times over the course of a relationship such as a house cleaning services, or a consulting services.

✅ The correct answer is option A.
Open descending is a type of auction. An auction market is a market in which buyers indicate the highest price they are willing to pay and sellers indicate the lowest price they are willing to accept. A trade occurs when the buyer and seller agree on a price.

✅ The correct answer is option A.
The Product concept holds that consumers will favour those products that offer the most quality, performance, or innovative features. The product concept proposes that consumers will prefer products that have better quality , performance and features as opposed to a normal product.

✅ The correct answer is option C.
Perception of Performance- Expectation gives us Customer satisfaction. Customer satisfaction indicates the fulfillment that customers derive from doing business with a firm. In other words, it’s how happy the customers are with their transaction and overall experience with the company.