Commerce Accountancy · General Awareness

Marketing Concepts and Strategies

2,245 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

Which of the following are the different options that a company have to position or reposition its products?

  1. By making altogether different claim or USP

  2. By highlighting the new product features

  3. By entering in new market segment

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

Companies can position or reposition products through multiple strategic approaches: creating entirely new claims or unique selling propositions (USPs), highlighting newly developed features to attract different customer segments, and entering new market segments where the product may have competitive advantages. All these approaches are valid positioning strategies, making D the comprehensive answer.

Multiple choice

Which of the following is the best determinant for the Successful product positioning?

  1. Design creative product proposition

  2. Existence of warranted competition

  3. Sizeable, Sensitive and profitable market segment

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

Successful product positioning depends on multiple factors working together: a creative and compelling product proposition that resonates with customers, presence of warranted competition to justify the positioning, and identification of a sizeable, sensitive, and profitable market segment that values the positioning. All three elements (A, B, and C) are critical determinants of successful product positioning.

Multiple choice

Either changing the product itself or repositioning it by changing its promotional focus. It is viable alternative to new product development because, it is less expensive and is crowned with greater degree of success is called as _____

  1. Product repositioning

  2. Product change

  3. Product Modification

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

Product Modification involves either changing the product itself or repositioning it through promotional focus. It is a viable alternative to new product development because it requires less investment and typically has a higher success rate than developing entirely new products.

Multiple choice

Given below are the different steps that involved in the product positioning. Arrange in them in a particular order? i) Choosing the competitive advantage ii) Signalling the competitive advantage iii) Identifying potential competitive advantage

  1. (i), (ii) and (iii)

  2. (ii), (iii) and (i)

  3. (ii), (i) and (iii)

  4. (iii), (i) and (ii)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The logical sequence for product positioning begins with identifying potential competitive advantages (iii), then choosing which specific advantage to leverage (i), and finally signalling that chosen advantage to the target market (ii). This step-by-step approach ensures a clear and effective positioning strategy.

Multiple choice

Which of the following is NOT an objective of Product diversification?

  1. Quality of the product

  2. Growth in the Market

  3. Survival in the Market

  4. Stability in the Market
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Product diversification objectives include growth, survival, and stability in the market. Quality of the product is an outcome or characteristic, not typically stated as a strategic objective of diversification itself. The other three options (growth, survival, stability) are well-established strategic objectives.

Multiple choice

'Product' one of the P's of marketing mix helps in achieving the marketing objectives only when there is happy and lasting wedding between the product and the market. This congruity product and market is called as _______

  1. Product-Market Mix

  2. Market-Product Mix

  3. Marketing Mix

  4. Product-Market Integration
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Product-Market Integration refers to the congruity or 'happy wedding' between a product and its market. When the product fits well with market needs and preferences, marketing objectives can be achieved effectively. The term describes this strategic alignment between product offerings and market demands.

Multiple choice

Which of the following is NOT and objective of the Pricing?

  1. Target return on investment

  2. Resource mobilization

  3. Survival and stability in the Market

  4. To attract the people irrespective of the profit / loss
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Pricing objectives include target return on investment, resource mobilization, survival, and market stability. Attracting people irrespective of profit or loss is not a viable pricing objective - businesses must balance customer attraction with financial sustainability to survive long-term.

Multiple choice

Which of the following is NOT the right approach to the Pricing?

  1. Identify the target customers

  2. Estimate the costs and demand

  3. Observe competitor's price

  4. Maximize the profits
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The right approach to pricing involves identifying target customers, estimating costs and demand, and observing competitor prices. Simply maximizing profits is not a comprehensive or effective pricing approach - it ignores customer value, competition, and long-term sustainability.

Multiple choice

A method of creating a typical consumer perception so that the consumer is made to buy the product is called as _______

  1. Tricky pricing

  2. On-demand pricing

  3. Psychological pricing

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

Psychological pricing is a strategy that leverages consumer perception and psychology to influence purchasing decisions. It uses pricing tactics like charm pricing ($9.99 instead of $10) to create the illusion of a better deal. This method specifically targets consumer psychology rather than being based on costs, demand, or simple discounting.

Multiple choice

Which of the following Internal Factors that does NOT influence the Product Pricing decisions?

  1. Organizational factors

  2. Marketing mix

  3. Product differentiation

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

Internal factors influencing pricing decisions are those within the organization's control: organizational factors (structure, policies), marketing mix (product, place, promotion, and price decisions), and product differentiation (unique features). Competitors are external factors - they exist outside the organization and thus do NOT belong in the internal factors category.

Multiple choice

Adding new product or products to the existing product-line or product-mix is called as ______

  1. Product-line-mix

  2. Product-mix

  3. Product-diversification

  4. Product-modification
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Product diversification is the strategy of adding new products to an existing product line or product mix. It expands the company's offerings into new categories or markets. This is distinct from product-mix (the overall assortment) or product-line-mix (variations within a line) and modification (improving existing products).

Multiple choice

Employee training can help in customer retention.

Directions: Read the following passage and answer the question that follows.

You need not require to create a separate community around your product from the scratch. You can very well use existing communities like Facebook which allow you to create applications and market your products. That way precious time and effort is saved and you can gain the community trust leverage of the customer, ie to say co --opetition rather than competition.

 Zapak used its gaming portal to sell its online games as downloads for as low as 99 Rs. by declaring a competition around T20 cup to its advantage. You can use community to do the same. There are different communities and one or the other will be more than eager or happy to strike a deal with real cash compared to the difficult Google adsense dollars.

Mass marketing has been rendered less alluring by new age marketing techniques like BTL marketing and Internet marketing which gives a more personalised, interactive and direct connect with the user increasing the tangibility and experiential quotient of the whole marketing campaign.

Realizing this trend many advertising agencies now offer a complete range of Integrated 360 degrees marketing solution, so you can approach an agency and get an update of how to increase your bottom-line without yourself working on the monstrous details of earning the Rupee.

Many agencies now make it a target to increase the bottom line of their clients. Cool marketing innovation by these advertisement agencies.

Well you could really gain by using internet communities to leverage your customer base. It could be something which could give you monetary leverage 0f 100-1000 times in Cash Generated. Identify a need of the customer related to your product. You could do something as simple as designing a game which educates the customer about your product or service benefits. And the same creates a Buzz around your product automatically.

Also do something new or different from your competitors. Be Humane to your customers and the customers always return even if they don’t need the product, for which you may need to only train your employees and keep them happy at workplace.

 

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The passage explicitly states that to make customers return even when they don't need the product, you may need to train your employees and keep them happy at the workplace. This directly links employee training to customer retention.

Multiple choice

Separate communities need to be built in order to market products.

Directions: Read the following passage and answer the question that follows.

You need not require to create a separate community around your product from the scratch. You can very well use existing communities like Facebook which allow you to create applications and market your products. That way precious time and effort is saved and you can gain the community trust leverage of the customer, ie to say co --opetition rather than competition.

 Zapak used its gaming portal to sell its online games as downloads for as low as 99 Rs. by declaring a competition around T20 cup to its advantage. You can use community to do the same. There are different communities and one or the other will be more than eager or happy to strike a deal with real cash compared to the difficult Google adsense dollars.

Mass marketing has been rendered less alluring by new age marketing techniques like BTL marketing and Internet marketing which gives a more personalised, interactive and direct connect with the user increasing the tangibility and experiential quotient of the whole marketing campaign.

Realizing this trend many advertising agencies now offer a complete range of Integrated 360 degrees marketing solution, so you can approach an agency and get an update of how to increase your bottom-line without yourself working on the monstrous details of earning the Rupee.

Many agencies now make it a target to increase the bottom line of their clients. Cool marketing innovation by these advertisement agencies.

Well you could really gain by using internet communities to leverage your customer base. It could be something which could give you monetary leverage 0f 100-1000 times in Cash Generated. Identify a need of the customer related to your product. You could do something as simple as designing a game which educates the customer about your product or service benefits. And the same creates a Buzz around your product automatically.

Also do something new or different from your competitors. Be Humane to your customers and the customers always return even if they don’t need the product, for which you may need to only train your employees and keep them happy at workplace.

 

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Hint: Para-C "But the passing fancy has endured for nearly half a century, the harmless craze still serves its useful purpose, and the fashion has acquired such a permanence as to convince most people that it has come to stay."