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

Product development is

  1. Useful for bank Marketing

  2. Not useful for bank Marketing

  3. They have no role to play in bank marketing

  4. All of these

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

Product development is essential in banking to create new financial services, such as specialized loan schemes or digital banking features. This helps banks meet evolving customer needs and stay competitive.

Multiple choice

Diversification means

  1. Marketing in diverse Countries

  2. Marketing in diverse Companies

  3. Marketing new diverse Products

  4. Used only for transactions with foreign countries

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

Diversification is a growth strategy where a company enters new markets with new products. In this context, it specifically refers to expanding the product line to reach different segments.

Multiple choice

Green marketing is known as

  1. Environment marketing

  2. Ecological marketing

  3. Product marketing

  4. A and B

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

Green marketing refers to the process of selling products and/or services based on their environmental benefits. It is commonly known as both environmental marketing and ecological marketing.

Multiple choice

Marketing is successful when

  1. Demand exceeds supply

  2. Supply exceeds demand

  3. Exports are heavy and costly

  4. Salesmen are effectively trained

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

While market conditions like demand and supply are important, the effective training of the sales force is a primary internal driver for marketing success. Well-trained staff can better navigate market fluctuations and close sales.

Multiple choice

Promotion means

  1. Additional responsibility

  2. Doing research in Marketing

  3. Advertisement and Publicity for Marketing

  4. Going up the ladder in Government establishments

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

In the marketing mix, promotion refers to the communication activities used to inform and persuade the target audience. This primarily includes advertising, publicity, and sales promotion.

Multiple choice

The term Marketing Myopia is related to:

  1. marketing concept<o:p></o:p>

  2. selling concept<o:p></o:p>

  3. production concept<o:p></o:p>

  4. product concept<o:p></o:p>
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Marketing myopia is related to the product concept in which the organizations do not lay stress on the marketing strategies they should follow and the way they should change them according to the future market requirements. Hence, they tend to stick to the process of improvising their product and believe that a good product sells for itself with or without a marketing strategy.

Multiple choice

The services of a spa center relate to

  1. the service concept<o:p></o:p>

  2. the product concept<o:p></o:p>

  3. the experience concept<o:p></o:p>

  4. all of the above<o:p></o:p>
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The services of a spa center relate to all of the options as they are in itself a service, a product and an experience.

Multiple choice

It is ______ to attract new customers than to retain existing ones for a company.

  1. more expensive<o:p></o:p>

  2. less expensive<o:p></o:p>

  3. inexpensive<o:p></o:p>

  4. none of these<o:p></o:p>
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

It is more expensive to attract new customers for an organization than to retain the existing customers i.e., more resources are spent for attracting  new customers. Therefore, retaining old customers is as important as attracting new customers.

Multiple choice

Positioning in the target market can be strengthened by

  1. making it smaller<o:p></o:p>

  2. increasing the homogeneity<o:p></o:p>

  3. both 1 and 2<o:p></o:p>

  4. none of these<o:p></o:p>
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Both 1 and 2 are the right answers. Positioning in the target market is strengthened by making it smaller as well as homogeneous.

Multiple choice

Which of the following definitions does the term basic marketing refers to?

  1. A sales person simply selling a product.

  2. A sales person sells a product and asks the customer to satisfy his questions and queries.

  3. A sales person contacts the customer to provide a feedback.

  4. A sales person contacts the customer from time to time with suggestions for a new product or improved current product.
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Basic marketing refers to a sales person simply selling a product. 

Multiple choice

Which target of marketing strategy did Starbucks follow?

  1. Multi-segment targeting

  2. Undifferentiated targeting

  3. Concentrated targeting

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

Starbucks falls under the category of concentrated targeting as it pursued a single segment of customers who drank gourmet-coffee.