CONCOR Management Trainee Marketing Mock Test 3: Product Management, Branding & Pricing

Professional Knowledge: Marketing | 50 MCQs with Answers

Disclaimer: This is a practice/mock test prepared for candidates based on the notified exam pattern and relevant Marketing topics. It is not an official CONCOR question paper or official mock test.

How to Attempt

• Total Questions: 50
• Each question has 4 options
• First attempt all questions without checking the answers.
• Answer Key and explanations are given at the end.
• Target Score: 40+
• Ideal Score: 45+

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Section A: Product Management

Q1. A product is best defined in marketing as:

A. Only a physical object
B. Anything offered to satisfy a need or want
C. Only a branded item
D. Only a service

Q2. Which of the following is NOT normally considered a product attribute?

A. Quality
B. Design
C. Features
D. Market share

Q3. A company selling different types of products such as laptops, printers and tablets has a broad:

A. Product depth
B. Product width
C. Product consistency
D. Product line length

Q4. Product line refers to:

A. All products sold by a company
B. A group of closely related products
C. Only premium products
D. Products sold in one geographical area

Q5. The number of product items within a particular product line represents:

A. Product width
B. Product depth
C. Product consistency
D. Product positioning

Q6. The total number of product items offered by a company across all product lines is known as:

A. Product mix length
B. Product mix width
C. Product mix depth
D. Product mix consistency

Q7. When a company adds more products to an existing product line, it is called:

A. Product line filling
B. Product diversification
C. Product positioning
D. Product harvesting

Q8. Adding a new product at a higher price and quality level to an existing product line is known as:

A. Downward stretching
B. Upward stretching
C. Line filling
D. Product deletion

Q9. A company introducing a lower-priced version of its existing product line is using:

A. Upward stretching
B. Downward stretching
C. Line filling
D. Brand repositioning

Q10. Product differentiation primarily aims to:

A. Make the product identical to competitors
B. Create meaningful differences in the customer's perception
C. Eliminate branding
D. Reduce distribution coverage

Q11. Which product characteristic is particularly important for a service?

A. Perishability
B. Physical ownership
C. Standard packaging
D. Inventory storage

Q12. A warranty is generally considered part of the:

A. Core product
B. Actual product
C. Augmented product
D. Product line

Q13. A product manager is primarily responsible for:

A. Only advertising campaigns
B. Managing the product's overall market performance and strategy
C. Only production scheduling
D. Only accounting activities

Q14. Product portfolio decisions are mainly concerned with:

A. Managing a company's collection of products
B. Selecting employees
C. Preparing tax returns
D. Managing only physical inventory

Q15. Product deletion is generally considered when a product:

A. Has strong growth potential
B. Consistently performs poorly and has limited strategic value
C. Has high customer loyalty
D. Has increasing market demand

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Section B: PLC & New Product Development

Q16. The correct sequence of the Product Life Cycle is:

A. Growth → Introduction → Maturity → Decline
B. Introduction → Growth → Maturity → Decline
C. Introduction → Maturity → Growth → Decline
D. Development → Growth → Introduction → Decline

Q17. During the introduction stage of the PLC, sales are generally:

A. Very high
B. Growing rapidly
C. Low and gradually increasing
D. Declining rapidly

Q18. The growth stage is normally characterized by:

A. Rapid increase in sales and market acceptance
B. Complete market saturation
C. Product withdrawal
D. Zero competition

Q19. The maturity stage generally experiences:

A. Rapidly increasing demand with no competition
B. Slower sales growth and intense competition
C. No need for promotion
D. Product development only

Q20. During the decline stage, a company may decide to:

A. Harvest the product
B. Increase every cost without analysis
C. Ignore market conditions
D. Stop all strategic evaluation

Q21. Which strategy is commonly associated with the maturity stage?

A. Market modification
B. Market entry only
C. Product invention only
D. No promotional activity

Q22. New Product Development normally begins with:

A. Commercialization
B. Idea generation
C. Test marketing
D. Product launch

Q23. In NPD, idea screening is used to:

A. Generate unlimited ideas
B. Eliminate unsuitable product ideas
C. Launch the product immediately
D. Set the final selling price only

Q24. A prototype or product concept is tested with target customers during:

A. Concept testing
B. Product deletion
C. Market harvesting
D. Product diversification

Q25. The final stage of the traditional New Product Development process is:

A. Idea generation
B. Business analysis
C. Commercialization
D. Concept development

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Section C: Brand Management

Q26. A brand primarily helps a company to:

A. Identify and differentiate its offering
B. Eliminate customer choice
C. Avoid promotion
D. Reduce product quality

Q27. Brand equity refers broadly to:

A. The value associated with a brand in the marketplace
B. The physical size of a brand logo
C. The cost of packaging
D. The number of employees in a company

Q28. Brand awareness means:

A. Customer's ability to recognize or recall a brand
B. Company's production capacity
C. Competitor's market share
D. Retailer's profit margin

Q29. Brand loyalty refers to:

A. Customer's repeated preference and commitment toward a brand
B. A company's loyalty to suppliers
C. Employee satisfaction
D. Distributor expansion

Q30. Brand image refers to:

A. How the company internally designs its logo
B. The perceptions and associations consumers have about a brand
C. The physical packaging only
D. The company's financial statement

Q31. Brand identity is primarily:

A. How the company wants the brand to be perceived
B. How competitors price their products
C. The company's sales volume
D. Customer complaints only

Q32. When an existing successful brand name is used for a new product category, it is called:

A. Line extension
B. Brand extension
C. Product deletion
D. Co-production

Q33. Introducing a new flavour or size under an existing product category and brand name is an example of:

A. Brand extension
B. Line extension
C. Corporate diversification
D. Rebranding only

Q34. When two established brands are used together on the same offering, it is known as:

A. Co-branding
B. Brand dilution
C. Brand deletion
D. Private branding

Q35. A major risk of excessive brand extensions is:

A. Brand dilution
B. Higher awareness in every case
C. Guaranteed loyalty
D. Elimination of competition

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Section D: Pricing Strategy

Q36. Price is different from other traditional marketing mix elements because it:

A. Does not influence customers
B. Directly generates revenue
C. Is always fixed
D. Has no relationship with demand

Q37. Value-based pricing primarily starts with:

A. Customer's perceived value
B. Company's production cost only
C. Competitor's employee salaries
D. Distributor's warehouse size

Q38. Cost-plus pricing is calculated by:

A. Competitor price minus margin
B. Cost plus a predetermined markup
C. Demand minus promotion
D. Revenue plus advertising

Q39. Competitor-based pricing primarily considers:

A. Competitors' prices
B. Employee turnover
C. Product packaging only
D. Customer age only

Q40. A company launches a new innovative service at a high initial price to recover development costs from customers willing to pay more. This is:

A. Penetration pricing
B. Price skimming
C. Economy pricing
D. Cost-free pricing

Q41. A company launches a new product at a very low initial price to quickly gain market share. This is:

A. Price skimming
B. Penetration pricing
C. Premium pricing
D. Prestige pricing

Q42. A pricing objective focused on earning the highest possible return on investment is related to:

A. Profit maximization
B. Product deletion
C. Market segmentation
D. Brand awareness

Q43. Break-even point occurs when:

A. Total revenue equals total cost
B. Revenue is zero
C. Fixed cost becomes zero
D. Variable cost becomes zero

Q44. If fixed costs are ₹1,00,000 and contribution per unit is ₹20, the break-even quantity is:

A. 2,000 units
B. 5,000 units
C. 10,000 units
D. 20,000 units

Q45. Offering a reduced price to customers for purchasing a larger quantity is an example of:

A. Quantity discount
B. Trade barrier
C. Psychological pricing
D. Prestige pricing

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Section E: Advanced

Q46. A logistics company introduces a premium end-to-end supply chain solution for large exporters and charges a higher price because of its reliability, technology and service quality. The pricing approach is closest to:

A. Value-based pricing
B. Economy pricing
C. Penetration pricing
D. Random pricing

Q47. If a company has many product lines but each line contains only a few items, its product mix is relatively:

A. Narrow and shallow
B. Wide and deep
C. Narrow and deep
D. Highly consistent only

Q48. A container logistics company launches a new digital tracking service under its existing corporate brand. This is best described as:

A. Brand extension
B. Product deletion
C. Downward pricing
D. Market harvesting

Q49. A company discovers that customers increasingly value real-time shipment visibility and redesigns its service around this requirement. This reflects:

A. Product orientation
B. Market orientation
C. Production orientation
D. Selling orientation

Q50. Which combination represents the strongest product-market strategy?

A. Product features without customer research
B. Customer needs + product value + appropriate pricing + strong positioning
C. Low price regardless of customer value
D. Strong advertising without product quality

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Answer Key

Q	Ans	Q	Ans	Q	Ans	Q	Ans	Q	Ans
1	B	11	A	21	A	31	A	41	B
2	D	12	C	22	B	32	B	42	A
3	B	13	B	23	B	33	B	43	A
4	B	14	A	24	A	34	A	44	B
5	B	15	B	25	C	35	A	45	A
6	A	16	B	26	A	36	B	46	A
7	A	17	C	27	A	37	A	47	A
8	B	18	A	28	A	38	B	48	A
9	B	19	B	29	A	39	A	49	B
10	B	20	A	30	B	40	B	50	B

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Answer Explanation

• Q1 - B: A product can be a good, service, idea or other offering designed to satisfy a need or want.
• Q2 - D: Market share is a performance measure, not a basic product attribute.
• Q3 - B: Product width represents the number of different product lines offered by a company.
• Q4 - B: A product line contains closely related products serving similar needs or markets.
• Q5 - B: Product depth refers to the number of variants within a particular product line.
• Q6 - A: Product mix length represents the total number of product items across all product lines.
• Q7 - A: Product line filling means adding more items within the existing range of a product line.
• Q8 - B: Upward stretching means adding higher-quality or higher-priced products to an existing line.
• Q9 - B: Downward stretching involves adding lower-priced or lower-level offerings.
• Q10 - B: Product differentiation creates meaningful differences that can make an offering more attractive than competitors.
• Q11 - A: Services are perishable because unused service capacity generally cannot be stored for future use.
• Q12 - C: Warranty is an additional benefit provided with the product, so it falls under the augmented product.
• Q13 - B: A product manager manages the product's strategy, positioning, performance and lifecycle.
• Q14 - A: Product portfolio management deals with the company's overall collection of products.
• Q15 - B: Products may be deleted when they consistently perform poorly or no longer fit the company's strategy.
• Q16 - B: The standard PLC sequence is Introduction → Growth → Maturity → Decline.
• Q17 - C: Sales are generally low during introduction because market awareness and adoption are still developing.
• Q18 - A: Growth is marked by increasing market acceptance and rapidly rising sales.
• Q19 - B: Maturity usually brings slower growth and stronger competitive pressure.
• Q20 - A: Harvesting reduces investment while attempting to maximize remaining cash flow from a declining product.
• Q21 - A: Market modification attempts to increase usage, attract new users or find new market segments during maturity.
• Q22 - B: NPD traditionally starts with generating possible new product ideas.
• Q23 - B: Idea screening evaluates ideas and removes those that do not fit company objectives or capabilities.
• Q24 - A: Concept testing evaluates how potential customers respond to a product concept.
• Q25 - C: Commercialization is the stage where the product is actually launched into the market.
• Q26 - A: Branding gives an offering a recognizable identity and differentiates it from competitors.
• Q27 - A: Brand equity is the additional value a brand contributes to an offering because of consumer knowledge and associations.
• Q28 - A: Brand awareness is the consumer's ability to recognize or recall a particular brand.
• Q29 - A: Brand loyalty represents a customer's tendency to repeatedly choose and remain committed to a brand.
• Q30 - B: Brand image consists of consumer perceptions and associations connected with the brand.
• Q31 - A: Brand identity represents the image and meaning the company intends to establish.
• Q32 - B: Brand extension uses an existing brand name to enter a new product category.
• Q33 - B: Line extension adds variants such as flavours, sizes or models within an existing product category.
• Q34 - A: Co-branding involves using two or more established brand names together.
• Q35 - A: Too many or poorly matched extensions can weaken or dilute the original brand meaning.
• Q36 - B: Price is the only traditional 4P that directly generates revenue; the others primarily represent costs or activities.
• Q37 - A: Value-based pricing begins with the customer's perception of the value received.
• Q38 - B: Cost-plus pricing adds a predetermined markup to the product's cost.
• Q39 - A: Competitor-based pricing uses competitors' prices as an important reference point.
• Q40 - B: Price skimming starts with a high price and generally targets customers willing to pay a premium.
• Q41 - B: Penetration pricing uses a low initial price to encourage rapid adoption and market-share growth.
• Q42 - A: Profit maximization aims to maximize the financial return generated by the business.
• Q43 - A: At break-even, total revenue equals total cost, resulting in neither profit nor loss.
• Q44 - B: Break-even quantity = Fixed Cost ÷ Contribution per Unit = ₹1,00,000 ÷ ₹20 = 5,000 units.
• Q45 - A: Quantity discounts reward customers for purchasing larger quantities.
• Q46 - A: When pricing is based on customer-perceived benefits such as reliability and technology, it is value-based pricing.
• Q47 - A: Many product lines indicate width, while few items within each line indicate shallow depth.
• Q48 - A: Using an existing corporate brand for a new service offering is an example of brand extension.
• Q49 - B: Designing services around changing customer requirements demonstrates market orientation.
• Q50 - B: Strong product strategy integrates customer understanding, value creation, pricing and positioning.

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Topics To Be Revised

If your score is below 40, revise these topics:

• Product Management
• Product Mix: Width, Depth, Length & Consistency
• Product Line Decisions
• Product Line Filling
• Product Line Stretching
• Product Differentiation
• Core, Actual & Augmented Product
• Product Life Cycle
• PLC Strategies
• New Product Development
• Idea Generation & Screening
• Concept Testing
• Commercialization
• Brand Awareness
• Brand Image
• Brand Identity
• Brand Equity
• Brand Loyalty
• Brand Extension
• Line Extension
• Co-branding
• Brand Dilution
• Value-Based Pricing
• Cost-Plus Pricing
• Competitor-Based Pricing
• Penetration Pricing
• Price Skimming
• Break-Even Analysis
• Quantity Discounts
• Market Orientation

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Practice Series

Continue your CONCOR Management Trainee Marketing preparation with the next mock tests:

1. Mock Test 1: Marketing Fundamentals & Marketing Mix
2. Mock Test 2: STP, Consumer Behaviour & Market Research
3. Mock Test 4: Promotion, Digital Marketing & CRM
4. Mock Test 5: B2B Marketing, Logistics & Supply Chain
5. Mock Test 6: Full-Length CONCOR Marketing CBT Mock Test

Quick Tip

For the real CBT, don't just memorize the answer. For Professional Knowledge questions, focus on understanding why one option is correct and why the other three are wrong. This will be especially useful in conceptual Marketing questions