Commerce Accountancy · General Awareness

Marketing Concepts and Strategies

2,239 Questions

Marketing concepts and strategies form the core of understanding consumer behavior, brand management, and product distribution. This hub covers essential topics like green marketing, packaging, pricing, and market structures. These questions are highly relevant for IBPS, SBI, and other banking examination preparation.

Brand extension strategiesPricing strategiesGreen marketing conceptsProduct packaging functionsCustomer satisfaction methods

Marketing Concepts and Strategies Questions

Multiple choice

Exchange concept of marketing deals with

  1. Exchange of products between sellers and buyers covering distribution and price aspects.

  2. Mere appendage to production.

  3. Achieving marketing success through product attributes.

  4. Aggressively promote and push the products.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Exchange concept of marketing focuses on the transfer of goods/services from sellers to buyers, emphasizing distribution channels and pricing mechanisms. It's about facilitating exchange transactions. Other options describe different marketing philosophies - production orientation, product focus, and selling concept - not the exchange concept.

Multiple choice

Marketing concept means:

  1. Firms should produce only what their predetermined determined consumers would be willing to buy

  2. Firms should persuade customers to buy what they have produced

  3. The consumers will buy the products which offer them the highest quality

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The marketing concept is customer-centric - firms should identify what consumers want and need, then produce accordingly. This means producing what predetermined consumers are willing to buy, not persuading them to buy what's already produced or focusing solely on quality.

Multiple choice

Match the following:

 
List - I
List - II
(a) Market segmentation
1. Pricing high of a new product initially,
(b) Skimming price
2. Process of disaggregating a market into a number of sub-markets.
(c) Multilevel marketing
3. Translation of the marketing plan into marketing performance
(d) Sales management
4. Modified version of direct marketing.

  1. (a)-(2), (b)-(1), (c)-(4), (d)-(3)

  2. (a)-(3), (b)-(1), (c)-(2), (d)-(4)

  3. (a)-(1), (b)-(2), (c)-(3), (d)-(4)

  4. (a)-(4), (b)-(2), (c)-(3), (d)-(1)
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Market segmentation is the process of dividing a market into sub-markets (2). Skimming price involves pricing high initially for new products (1). Multilevel marketing is a modified version of direct marketing (4). Sales management translates marketing plans into performance (3). The correct matching is (a)-(2), (b)-(1), (c)-(4), (d)-(3).

Multiple choice

Which of the following buying process sequence is correct?

  1. Adoption 2. Legitimization
  2. Attitude 4. Awareness

  1. 4 3 2 1

  2. 2 3 4 1

  3. 1 2 3 4

  4. 3 4 2 1
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The correct buying process sequence begins with Awareness (becoming aware of the product), followed by Attitude (developing favorable attitude), then Legitimization (justifying the purchase), and finally Adoption (making the purchase decision). This follows the standard adoption lifecycle in consumer behavior.

Multiple choice

Road blocking advertisement refers to

  1. Advertising a product by blocking the road.

  2. Creating big blocks for advertising a product.

  3. Advertising a product on multiple TV channels at the same time.

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Road blocking advertisement is an advertising method in which a commercial is broadcast simultaneously on several radio stations and/or television channels.

Multiple choice

PDA, smart phone and computer mediated network are the need in _______

  1. Network marketing

  2. E-commerce

  3. M-commerce

  4. Marketing
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

M-Commerce is the ability to conduct commerce using a mobile device, such as a mobile phone, a Personal Digital Assistant (PDA), a smart phone or other emerging mobile equipment, such as dash top mobile devices.

Multiple choice

Selling + Customer satisfaction =

  1. Network marketing

  2. E-commerce

  3. M-commerce

  4. Marketing
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Marketing is the management process through which goods and services move from concept to the customer. Many companies today have customer focus (market orientation). This implies that the company focuses its activities and products on consumer demands.

Multiple choice

Which of the following is not included in marketing assessment process?

  1. Defining the problem

  2. Fostering ideas

  3. Feedback

  4. Designing a plan
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The marketing assessment process can be laid down into six steps namely defining the problem, analysis of the situation, obtaining data that is specific to the problem, analysis and interpreting the data, fostering ideas and problem solving, and designing a plan. It does not include feedback.

Multiple choice

Which of the following is/are correct?

  1. Prospecting is building a list of persons who can be approached for life insurance.

  2. Marketing includes an exercise to meet the account holders of a bank.

  3. Meeting known and familiar people who can give an agent interview for life insurance purposes is useful.

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

All the given statements are correct.

Multiple choice

A manufacturer of a consumer product keeps the price of a new product substantially high and over a time period reduces it when the demand reduces. Such pricing is called

  1. geographical pricing

  2. promotional pricing

  3. market skimming pricing

  4. psychological pricing
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Market skimming pricing or price skimming is a product pricing strategy by which a firm charges the highest initial price that customers will pay. As the demand of the first customers is satisfied, the firm lowers the price to attract another, more price-sensitive segment. 

Multiple choice

If there are declining sales leading to declining profits and no possibility of increasing and improving them, which of the following strategies will be adopted by an organisation?

  1. Product modification

  2. More of product modification and some production elimination

  3. Some production modification and more of production elimination

  4. Product elimination
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

When a product’s performance is falling short of expectations and continued support is no longer justified, it’s time to pull it out of the marketplace, which is known as product elimination. It is done by adopting harvesting, line-simplification and total-line divestment. 

Multiple choice

The system of marketing information is ______ that pertains to marketing.

  1. the structure of people, equipment and procedures for generation and processing of information

  2. the software used for collection of information

  3. the computer hardware which is used for handling database

  4. the set of inputs to collate the information
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Marketing Information System is a system that analyzes and assesses marketing information, gathered continuously from sources inside and outside an organization. Timely marketing information provides basis for decisions such as product development or improvement, pricing, packaging, distribution, media selection, and promotion.