Important Objective Questions of Marketing Education Value | CSC Exam

1. Customer purchases a product because:
   a) It is cheap
   b) It is advertised
   c) It provides value
   d) It is popular
   Answer: c) It provides value
2. Value is:
   a) Features of product
   b) Price of product
   c) What customer derives from product
   d) Cost of product
   Answer: c) What customer derives from product
3. Value resides in:
   a) Product
   b) Company
   c) Customer’s mind
   d) Market
   Answer: c) Customer’s mind
4. Value is defined by:
   a) Seller
   b) Company
   c) Customer
   d) Government
   Answer: c) Customer
5. Value depends on:
   a) Features only
   b) Usage and purpose
   c) Cost only
   d) Advertisement
   Answer: b) Usage and purpose
6. Price-based competition leads to:
   a) Differentiation
   b) Innovation
   c) Commoditization
   d) Loyalty
   Answer: c) Commoditization
7. Value perspective helps in:
   a) Lower price only
   b) Clear differentiation
   c) Ignoring customers
   d) Reducing quality
   Answer: b) Clear differentiation
8. Value creation starts with:
   a) Product
   b) Customer understanding
   c) Pricing
   d) Profit
   Answer: b) Customer understanding
9. Value creation includes identifying:
   a) Customer problems
   b) Customer characteristics
   c) Both
   d) None
   Answer: c) Both
10. Value delivery focuses on:
    a) Making money
    b) Solving customer problems
    c) Reducing cost
    d) Increasing price
    Answer: b) Solving customer problems
11. Value delivery includes:
    a) Product
    b) Services
    c) Partners
    d) All of these
    Answer: d) All of these
12. Value delivery must fit customer:
    a) Budget only
    b) Context
    c) Location only
    d) Culture only
    Answer: b) Context
13. Value capture means:
    a) Creating value
    b) Delivering value
    c) Earning part of value created
    d) Ignoring value
    Answer: c) Earning part of value created
14. Price should be based on:
    a) Cost only
    b) Competitors
    c) Value created
    d) Margin only
    Answer: c) Value created
15. Moats in business include:
    a) Service
    b) Exclusivity
    c) Solution
    d) All of these
    Answer: d) All of these
16. Value elements include:
    a) Product
    b) Service
    c) Partnerships
    d) All of these
    Answer: d) All of these
17. Different customer segments value:
    a) Same features
    b) Different features
    c) Only price
    d) Only brand
    Answer: b) Different features
18. Value can be measured in:
    a) Units
    b) Rupees
    c) Weight
    d) Time only
    Answer: b) Rupees
19. Total value is:
    a) Single feature value
    b) Sum of all value elements
    c) Only product value
    d) Only service value
    Answer: b) Sum of all value elements
20. Communicating value is important because:
    a) Customer must understand value
    b) Customer already knows
    c) It is not required
    d) Only for advertising
    Answer: a) Customer must understand value
21. Value communication should focus on:
    a) Features only
    b) Problem and solution
    c) Ignoring customer
    d) Confusion
    Answer: b) Problem and solution
22. Premium pricing is possible when:
    a) Value is low
    b) Value is high
    c) Cost is low
    d) Competition is high
    Answer: b) Value is high
23. Value capture happens after:
    a) Pricing
    b) Delivery
    c) Selling
    d) Advertising
    Answer: b) Delivery