MKT108 Exam Practice Questions and Answers 2026
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1. What is the main goal of customer relationship management (CRM)?
a.To increase product variety
b.To build and maintain long-term relationships with customers
c.To reduce marketing costs
d.To increase production efficiency
2. Which element of the marketing mix involves determining the amount of money customers must pay for a product?
a.Product
b.Place
c.Promotion
d.Price
3. Why is market segmentation important?
a.It increases production costs
b.It limits marketing efforts
c.It reduces the number of products a company offers
d.It allows companies to better meet the needs of different groups of consumers
4. What is the main advantage of using social media marketing?
a.It allows for direct interaction with customers
b.It guarantees high sales
c.It is always free
d.It requires no planning
5. What does \'B2B\' stand for in marketing?
a.Back to Basics
b.Business to Business
c.Business to Consumer
d.Brand to Brand
6. Which of the following is a disadvantage of cost-plus pricing?
a.It can be used in any market condition
b.It ignores demand and competitor prices
c.It is simple to implement
d.It ensures a consistent profit margin
7. Which of the following is not part of the marketing mix?
a.Product
b.Profit
c.Price
d.Place
8. Which of the following is not a stage in the product life cycle?
a.Introduction
b.Growth
c.Decline
d.Saturation
9. The functional approach studies:
a.Consumer behavior
b.Marketing functions like buying and selling
c.The production of goods
d.The management of marketing departments
10. Which approach addresses market efficiency and advertising truthfulness?
a.Commodity approach
b.Functional approach
c.Managerial approach
d.Social approach
11. Industrial goods are classified into which groups?
a.Durable and non-durable goods
b.Raw materials, parts, and supplies
c.Materials and parts, capital items, and supplies and services
d.Convenience, shopping, and specialty goods
12. An example of an unsought good is:
a.Food
b.Insurance policy
c.Clothing
d.Mobile phone
13. What concept holds that consumers will favor products that offer the most quality, performance, and innovative features?
a.Marketing concept
b.Production concept
c.Selling concept
d.Product concept
14. What is marketing?
a.The process of hiring employees.
b.The process of financial planning.
c.The management of exchange processes between a firm and its customers
d.The process of manufacturing goods.
15. Who defines marketing as "the performance of business activities that direct the flow of goods and services from producer to consumer or user"?
a.Nwokoye
b.American Marketing Association
c.Philip Kotler
d.Cundiff and Stanton
16. Marketing channels can be defined as:
a.Market segments
b.Production lines
c.Pathways through which products flow from producers to consumers
d.Financial transactions
17. A key factor in determining the size of a market is:
a.The production capacity
b.The needs and purchasing power of consumers
c.The number of sellers
d.The cost of goods
18. ______ segmentation consists of dividing the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, and nationality.
ANS. Demographic
19. Which of the following is not a criterion for effective market segmentation?
a.Accessibility
b.Substantiality
c.Measurability
d.Complexity
20. A key characteristic of a well-defined market segment is:
a.Accessibility
b.Homogeneity in needs and preferences
c.Size
d.Complexity
21. The primary purpose of advertising is to:
a.Inform, persuade, and remind customers about products
b.Limit market competition
c.Increase product prices
d.Decrease production costs
22. A company focusing on the Societal Marketing Concept aims to:
a.Maximize short-term profits
b.Maximize short-term profits
c.Balance company profits, customer satisfaction, and societal well-being
d.Increase market share at all costs
23. _______ segmentation entails dividing a market into different geographic units such as nations, states, regions, counties, cities.
ANS. Geographic
24. ______ segmentation means dividing buyers into different groups based on social class, lifestyle, or personality.
ANS. Psychographic
25. Some people are of the view that promotion and selling are ______.
ANS. Synonymous
26. Selling is actually one of the components of _______.
ANS. Marketing
27. ______ includes advertising, personal selling, and all other selling tools.
ANS. Promotion
28. Promotion is a marketing tool used as a means of informing, persuading, and ______.
ANS. Communicating
29. There are ____ promotional mix or variables
ANS. 5
30. ______ (1984) defines advertising as “any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor”.
ANS. Kotler
31. Sales promotion is described as short-term _____ to encourage the purchase or sale of a product or service.
ANS. Incentives
32. ____ selling is defined as the oral presentation in a conversation with one or more prospective purchasers to make sales.
ANS. Personal
33. Publicity is mainly ______.
ANS. Informative
34. _______ is a social movement seeking to argue the rights and powers of buyers in relation to sellers.
ANS. Consumerism
35. _____ (1983) defines consumerism as “the actions of individuals and organizations (consumers, government, and business) responding to consumer dissatisfactions in exchange relationships”.
ANS. Stanton
36. Consumerism, today includes _____ broad areas of consumer dissatisfaction and remedial efforts.
ANS. Three
BATCH B
What is the role of marketing in socio-economic development?
a.To stimulate demand and enlarge market size
b.To create employment
c.To distribute goods
d.To reduce prices
Who defines marketing as "the performance of business activities that direct the flow of goods and services from producer to consumer or user"?
a.Nwokoye
b.Cundiff and Stanton
c.American Marketing Association
d.Philip Kotler
Marketing creates value through:
a. All of the above
b.Needs assessment
c.Consumer research
d.Exchange
Which approach focuses on the nature, evolution, and functions of particular institutions and various facilitating agencies?
a.Commodity approach
b.Functional approach
c.Social approach
d.Institutional approach
What is the primary focus of the commodity approach?
a.Classes of products
b.The production process
c.Managerial roles
d.Marketing functions
The managerial approach in marketing focuses on:
a.Marketing communication
b.Consumer satisfaction
c.Planning, implementation, and control
d.The evolution of marketing institutions
The functional approach studies:
a.The management of marketing departments
b.Consumer behavior
c.The production of goods
d.Marketing functions like buying and selling
Which approach addresses market efficiency and advertising truthfulness?
a.Commodity approach
b.Functional approach
c.Managerial approach
d.Social approach
What is marketing?
a.The process of manufacturing goods.
b.The process of hiring employees.
c.The management of exchange processes between a firm and its customers
d.The process of financial planning.
Industrial goods are classified into which groups?
a.Durable and non-durable goods
b.Convenience, shopping, and specialty goods
c.Materials and parts, capital items, and supplies and services
d.Raw materials, parts, and supplies