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

What is meant by trading down?

  1. By adding variants of existing brands to the product line or by increasing product lines and adding new brands.<o:p></o:p>

  2. By adding similar item to an existing product line with the same brand name.<o:p></o:p>

  3. By using one of the existing brands to offer a new product line <o:p></o:p>

  4. By adding lower priced products to its product line<o:p></o:p>
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

By adding lower priced products to its product line trading down is achieved.

Multiple choice

Which type of strategy does Baskin Robins follow?

  1. Product proliferation<o:p></o:p>

  2. Product innovation<o:p></o:p>

  3. Value priced goods and services<o:p></o:p>

  4. Prestige goods<o:p></o:p>
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Baskin Robins is an example of product proliferation strategy. In this strategy the challenger attacks the leader by launching a great variety of products.

Multiple choice

Which type of differentiation does “Lakme” display when it carries out stocking of skin care products in small neighborhood shops, storage of personal products in central market places and runs exclusive beauty saloons?

  1. <span style="line-height:=">Price differentiation<o:p></o:p>

  2. <span style="line-height:=">Promotional differentiation<o:p></o:p>

  3. <span style="line-height:=">Product differentiation<o:p></o:p>

  4. <span style="line-height:=">Distribution differentiation<o:p></o:p>
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

It is the distribution differentiation that Lakme displays when it carries out stocking of skin care products in small neighborhood shops, storage of personal products in central market places and runs exclusive beauty saloons

Multiple choice

Transaction Marketing means

  1. Marketing only to strangers

  2. More selling of goods

  3. Doing banking transaction

  4. All of these

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Transaction marketing focuses on individual, one-time sales rather than long-term relationships. It involves maximizing sales volume, often targeting new customers (strangers), and focusing on the efficiency of the transaction itself.

Multiple choice

In Marketing it is necessary to identify

  1. Potential sellers

  2. Selling employees

  3. Potential products and services

  4. Key existing and potential customers

  5. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Identifying both existing and potential customers is the core of marketing strategy. This allows a business to understand market needs and target its products and communications effectively.

Multiple choice

NRI is an easy target for effective marketing because

  1. He likes Indian goods

  2. He does not like Indian goods

  3. He is easily approachable

  4. It is cheaper to contract NRIs

  5. There are special products designed for NRIs
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Non-Resident Indians (NRIs) are often targeted by Indian banks because they maintain strong cultural and emotional ties to India, leading to a preference for Indian goods and financial services. Additionally, banks offer specialized products like NRE/NRO accounts to cater to their specific needs.

Multiple choice

A DSA helps in

  1. Boosting Direct Sales

  2. Contacting customers in the Net

  3. Indirect Marketing

  4. Direct Telemarketing

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A DSA (Direct Selling Agent) is an individual or entity that works on behalf of a bank to find potential customers and sell products like loans or credit cards directly to them. Their primary role is to boost direct sales for the institution.

Multiple choice

Marketing is required for

  1. Boosting production

  2. Boosting sales

  3. Boosting profits

  4. Improving customer service

  5. All of these
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Marketing is a holistic business function that supports production by identifying consumer needs, drives sales through promotion, generates profits, and ensures long-term success through customer service.

Multiple choice

A cold call is

  1. Best way to do marketing

  2. A last resort for marketers

  3. Marketing at random

  4. All of these

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Multiple choice

A call can be effective by

  1. Making a phone call

  2. Sending an e-mail

  3. Calling on friends

  4. Service with several facilities

  5. Personally calling on prospective customers
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

While digital communication is efficient, personally calling on or meeting prospective customers is often the most effective way to build trust, address specific concerns, and successfully close a sale through direct interaction.

Multiple choice

Good selling skills involves

  1. Alertness

  2. Knowledge of competition

  3. Knowledge of market

  4. Empathy

  5. All of these
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Successful selling requires a combination of alertness to opportunities, deep knowledge of the market and competition, and empathy to understand and solve the customer's problems.

Multiple choice

Innovation helps in

  1. Designing new Products

  2. Improving marketing Fluctuations

  3. Increasing sales

  4. New methods for increasing Prospects

  5. All of these
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Innovation in a business context involves creating new products, refining marketing approaches, and identifying new ways to reach potential customers. Consequently, it drives sales growth and improves overall market presence.

Multiple choice

Marketing Strategy means

  1. New ideas to lure more customers

  2. New methods to retain the customers

  3. New ways to contact the new customers

  4. New marketing techniques

  5. All of these
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Marketing strategy is a comprehensive plan that includes attracting new customers, retaining existing ones, and utilizing various communication techniques. It encompasses all methods used to achieve a competitive advantage.

Multiple choice

Successful Marketing Strategies need

  1. Knowledge of customers tastes

  2. Good leadership

  3. Proper direction and guidance

  4. Knowledge of peers

  5. All of these
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Effective marketing requires a combination of external market knowledge (customer tastes and peer/competitor behavior) and internal management (leadership and guidance). All these factors ensure the strategy is well-informed and well-executed.