Default for MKT205 The default category for questions shared in context 'MKT205'. Fill in the Blank (FBQs) FBQ1 Cooperative societies are ________organisations whose affairs are administered by persons elected or appointed in a manner agreed upon by the members. *Democratic* 1.0000000 0.0000000 FBQ2 __________otherwise called borrowed capital consists of members deposits, loan from cooperative banks, loan from government and trading credits. *Loan capital* 1.0000000 0.0000000 0.0000000 FBQ3 _____________ is issued by registrar of companies and cooperate affairs commission Abuja to show that a business is legally incorporated and recognize by government. *Certificate of Incorporation* 1.0000000 0.0000000 FBQ4 ------------------------------------tells you to about the regulation that is laid down for the internal rules and regulations of the government organization, and management of the company. *Article of Association* 1.0000000 0.0000000 FBQ5 _________ is issued to public limited liability company. It can start a business and exercises borrowing powers. *Certificate of Trading* 1.0000000 0.0000000 FBQ6 We have two types of limited liability companies, they are ______________ and Public limited *Private liability Companies* 1.0000000 0.0000000 FBQ7 According to Ejiofor (1989), capitalisation deals with the capital structure of a business in relation to the amount of ______, its composition and changes in it. *Equity* 1.0000000 0.0000000 FBQ8 In the then Eastern Nigeria, the first marketing cooperative was established in ______ to purchase and transport palm produce. *1936* 1.0000000 0.0000000 FBQ9 ______ or Deed of Partnership is the document that regulates the activities of the partnership business. *Article of Partnership* 1.0000000 0.0000000 FBQ10 ___________ has no board of directors. *Partnership* 1.0000000 0.0000000 FBQ11 Bear All Losses and Risks Alone is a disadvantage of____________ *Sole Trader* 1.0000000 *Sole Proprietorship* 1.0000000 FBQ12 ___________ states how the company will relate with the outside world. It will state the name, location and objectives of the company. *Memorandum of Association* 1.0000000 0.0000000 FBQ13 Market focus is a pillar of the ____________ *Marketing concept* 1.0000000 0.0000000 FBQ14 Selling is pre-occupied with the ______need to convert his product into cash *Sellers* 1.0000000 0.0000000 FBQ15 __________contributes only the money needed for formation of the business or for running of the business. *Dormant* 1.0000000 *Sleeping partner* 1.0000000 FBQ16 _____________holds that “consumers will favour products that offer the most quality, performance, and innovative features”. The *product concept* 1.0000000 0.0000000 0.0000000 FBQ17 ___________ and Assembling is concerned with the marketing institutions that purchase goods or services at cheaper prices in order to resell at minimum prices to the end-users. *Buying* 1.0000000 0.0000000 FBQ18 _______is the movement of goods from the manufacturer down to the target consumers *Transportation* 1.0000000 0.0000000 FBQ19 _________is a process of creating, maintaining and enhancing strong value added relationships with customers and other stockholders. *Relationship marketing* 1.0000000 0.0000000 0.0000000 FBQ20 A _________is defined as a set of all actual and potential buyers of a product and service. *Market* 1.0000000 0.0000000 FBQ21 ________is the creation, development and delivery of products and services that satisfy the needs and wants of the customer, at a profit. *Marketing* 1.0000000 0.0000000 FBQ22 A marketing framework is a __________or logical flow of your marketing plan. *Visual representation* 1.0000000 0.0000000 FBQ23 Merchandising function is a function of _____________. *Marketing* 1.0000000 0.0000000 FBQ24 Human wants are ______ for specific satisfaction of deeper needs. *Desires* 1.0000000 0.0000000 FBQ25 Marketing involves -------------------------- and -------------------------- consumers wants and needs. *Identifying and anticipating* 1.0000000 0.0000000 0.0000000 FBQ26 The Product concept is one of the oldest concepts guiding sellers. True or False. *FALSE* 1.0000000 0.0000000 0.0000000 FBQ27 _____________assumes offer the most customer will favour those products that offer the most quality for the price, and therefore the organization should devout its energy to improving product/service quality. The *Product concept* 1.0000000 0.0000000 FBQ28 Organizations should not strive to satisfy their at the expense of the society is a __________concept. *Societal Marketing* 1.0000000 0.0000000 FBQ29 __________can be defined as technical or professional terms that are the manner in which the services are rendered. *Quality service* 1.0000000 0.0000000 FBQ30 ______ means the banker should not make claims of what he/she cannot offer customers *Credibility* 1.0000000 0.0000000 0.0000000 FBQ31 _______has been defined as any act or performance that one party can offer to another that is essentially and does not result in the ownership of anything. *Services* 1.0000000 0.0000000 FBQ32 __________is defined as the subdivision of a market into homogeneous subset of customer, where any subset may conceivably be selected as a market target to be reached with a distinct marketing mix. *Market segmentation* 1.0000000 0.0000000 FBQ33 Marketers have the task of managing _______ and demand. *Markets* 1.0000000 0.0000000 FBQ34 Since no company can operate in every market and satisfy every need, there is need for market segmentation. True or False ____ *True* 1.0000000 0.0000000 FBQ35 In mass marketing, or what is alternatively called undifferentiated marketing, the marketer offers one product or uses one blend of marketing mix to serve the whole market. *True* 1.0000000 0.0000000 0.0000000 Multiple Choice Questions (MCQs) MCQ1 All members or partner take active part in the management of the business and are generally liable to any loss or risk Active Partnership 0.0000000 General Partnership 0.0000000 Limited Partnership 0.0000000 Ordinary Partnership 1.0000000 MCQ2 Cooperative principles are usually associated with _________who are referred to as the founding fathers of the modern cooperative societies. Rochdale Pioneers 1.0000000 Rochdale Pearson 0.0000000 Rochman Pionson 0.0000000 Pearson Robinson 0.0000000 MCQ3 Selling is pre-occupied with the ______need to convert his product into cash Producers 0.0000000 Buyers 0.0000000 Sellers 1.0000000 Agent 0.0000000 MCQ4 _____________holds that consumers, if left alone will ordinarily not buy enough of the organization’s products. The selling concept 1.0000000 The marketing concept 0.0000000 The product concept 0.0000000 The production concept 0.0000000 MCQ5 ___________is concerned with setting certain standards/levels to accomplish the produced goods. Standardization and Grading 1.0000000 Buying and Assembling 0.0000000 Planning 0.0000000 Assembling 0.0000000 MCQ6 Relationship marketing is a process of creating, maintaining and ______ strong value added relationships with customers and other stockholders. Enhancing 1.0000000 Nurturing 0.0000000 Servicing 0.0000000 Providing 0.0000000 MCQ7 __________________function is a function of marketing Merchandising 1.0000000 Selling 0.0000000 Advertisement 0.0000000 Distribution 0.0000000 MCQ8 For exchange to take place, there are at least _____ parties Four 0.0000000 Three 0.0000000 Two 1.0000000 Six 0.0000000 MCQ9 _____________is defined as the analysis, planning, implementation, and control of programs designed to create, build and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives. Relationship Marketing 0.0000000 Marketing management 1.0000000 Market planning 0.0000000 Marketing analysis 0.0000000 MCQ10 To be successful as an entrepreneur, we need to think __________. Success 1.0000000 Goodness 0.0000000 Planning 0.0000000 None of the options 0.0000000 MCQ11 Loans from commercial banks are _______term in nature. Long 0.0000000 Tall 0.0000000 Small 0.0000000 Short 1.0000000 MCQ12 In a famous study by Booz et.al (1967) new product failure rate are put at 50% after the marketing stage. True or False True 1.0000000 False 0.0000000 Not sure 0.0000000 None of the options 0.0000000 MCQ13 Services cannot be stored hence they are highly ___________. Perishable 1.0000000 Inseperable 0.0000000 Inconsistent 0.0000000 None of the options 0.0000000 MCQ14 Financial institutions can be broadly classified into _________ Three 0.0000000 Two 1.0000000 Four 0.0000000 Five 0.0000000 MCQ15 ____________marketing services could be defined as an act of creating awareness for service products and make same available at affordable prices to potential buyers. Non Financial 0.0000000 Physical 0.0000000 Essential 0.0000000 Financial 1.0000000 MCQ16 Financial industry is typically__________ in nature. Holistic 0.0000000 Monopolistic 0.0000000 Oligopolistic 1.0000000 Realistic 0.0000000 MCQ17 Customers do not expect a high degree of confidentiality and honesty on the part of the bank. True or False False 1.0000000 True 0.0000000 Not Sure 0.0000000 All of the options 0.0000000 MCQ18 ________ means knowing one’s job well. Compatability 0.0000000 Credibility 0.0000000 Reliability 0.0000000 Competence 1.0000000 MCQ19 ___________ strategy suggests that differences in the taste and buying needs and behaviour of consumers can be addressed if varieties of a product are pushed into the market. Mass Marketing/ Undifferentiated Marketing 0.0000000 Product Variation/Product Differentiation Marketing 1.0000000 Target Marketing 0.0000000 Measured Marketing 0.0000000 MCQ20 _____________ means the firm (Bank) should be able to reach the segments. Differentiable 0.0000000 Measurable 0.0000000 Accessible 1.0000000 Sustainable 0.0000000 MCQ21 _________Here, consumers are grouped according to variables such as age, sex, marital status, income, education, occupation, race, religion. Demographic segmentation 1.0000000 Geographic segmentation 0.0000000 Psychographic segmentation 0.0000000 Behavioural Segmentation 0.0000000 MCQ22 Lifestyle is a pattern of living adopted by an individual under ___________ Geographic segmentation 0.0000000 Psychographic segmentation 1.0000000 Behavioural Segmentation 0.0000000 Demographic segmentation 0.0000000 MCQ23 When a new service is being introduced, there is the need for advancement to introduce it to the general public. True or False True 1.0000000 False 0.0000000 Not sure 0.0000000 All of the options 0.0000000 MCQ24 Other forms of promotional strategy include personal selling, publicity, and sales promotion. True or False True 1.0000000 False 0.0000000 Not sure 0.0000000 All of the options 0.0000000 MCQ25 Products/services need to be available in adequate quantities, in convenient locations and at times when customers want to buy them. This is called Place or Distribution. True or False True 1.0000000 False 0.0000000 Not sure 0.0000000 All of the options 0.0000000 MCQ26 The amount of money a customer pays in exchange for a product is known as the ____________. Promotion 0.0000000 Place 0.0000000 Products 0.0000000 Price 1.0000000 MCQ27 ____________involves oral communication with prospective purchasers with the intention of making a sale. Advertising 0.0000000 Personal selling 1.0000000 Promotion 0.0000000 Place 0.0000000 MCQ28 ______ are incentives or fit schemes to consumers that are designed to stimulate purchases. Advertising 0.0000000 Cash-and-carry 0.0000000 Sales Promotion 1.0000000 Publicity 0.0000000 MCQ29 ________is defined as the process by which business analyze the environment and their capabilities, decide upon course of marketing and implement those decisions. Marketing planning 0.0000000 Marketing plan 1.0000000 Marketing analysis 0.0000000 Marketing function 0.0000000 MCQ30 The primary function of _________ is to provides a yardstick against which progress can be measured with provision for appropriate action if achievement is seriously above or below target. Marketing planning 1.0000000 Marketing plan 0.0000000 Marketing analysis 0.0000000 Marketing function 0.0000000 MCQ31 Brevity is not a quality of a good marketing plan. True or False True 0.0000000 False 1.0000000 Not sure 0.0000000 All of the options 0.0000000 MCQ32 _________ distorts planned lending levels and deposit rates of banks. Social Upheavals 0.0000000 Deflation 0.0000000 Inflation 1.0000000 Civil strife 0.0000000 MCQ33 The most important factor in successful marketing is the ___________ Objectives 0.0000000 Corporate goals 0.0000000 Corporate Mission 0.0000000 Corporate Vision 1.0000000 MCQ34 Human being is a _______being. Mental 0.0000000 Crazy 0.0000000 Social 1.0000000 Physical 0.0000000 MCQ35 ___________is a challenge in bank marketing because it reflects an ugly picture of the bank's image. Technology 0.0000000 Untrained Staff 1.0000000 Knowledgeable Staff 0.0000000 Trust 0.0000000