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

“Marlboro” differentiates its brand on which basis?

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

  2. Image differentiation<o:p></o:p>

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

  4. Personnel differentiation<o:p></o:p>
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Marlboro differentiates its product on the basis of image, i.e. it portrays its brand image as cow boy image. Hence, it is the right answer.

Multiple choice

Which advertising strategy is used in maturity phase?

  1. Reduce to level needed to retain hard core loyals<o:p></o:p>

  2. Build awareness and interest in mass market<o:p></o:p>

  3. Build product awareness among early adopters and dealers<o:p></o:p>

  4. Stress brand differences and benefits<o:p></o:p>
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The advertising strategy of stressing brand differences and benefits is followed in case of maturity phase. Hence, it is the right answer.

Multiple choice

What is the product strategy followed in the case of growth phase?

  1. Offer product extensions, service, warranty<o:p></o:p>

  2. Diversify brands and items models<o:p></o:p>

  3. Phase out weak<o:p></o:p>

  4. Offer a basic product<o:p></o:p>
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

To offer product extensions, service and warranty, is the product strategy carried out in case of growth phase. Hence, it is the right answer.

Multiple choice

What is the distribution strategy followed in the introduction phase?

  1. Build more intensive distribution<o:p></o:p>

  2. Build intensive distribution<o:p></o:p>

  3. Build selective distribution<o:p></o:p>

  4. Go selective phase out unprofitable outlets<o:p></o:p>
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The distribution strategy of building selective distribution is followed in introduction phase. Hence, it is the right answer.

Multiple choice

Which of the following criteria should not be followed in the growth phase?

  1. To improve product quality and to add new features<o:p></o:p>

  2. To add new models and flanker products<o:p></o:p>

  3. To shift from product awareness advertisement to product preference advertisement<o:p></o:p>

  4. To increase prices and shut out price sensitive buyers<o:p></o:p>
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The criteria of lowering the prices specially for price sensitive consumers is carried out in case of the growth phase. Hence, it is the right answer.

Multiple choice

BMW introduced certain models in its 3 series automobiles in part to attract new customers and in the hope of “moving them up” to higher priced models. Which of the following brand role does the following example belong to?

  1. <span style="line-height:=">Cash cows<o:p></o:p>

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

  3. <span style="line-height:=">Low-end entry level<o:p></o:p>

  4. <span style="line-height:=">High end prestige<o:p></o:p>
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The following example is of low -end entry level brand role in which a relatively low priced brand in the brand portfolio is able to attract consumers to the brand franchise and later the customers can be traded up to a higher priced brand. Hence, it is the right answer.

Multiple choice

A company engaged in producing tooth-paste intends to raise its profits by enhancing its unit sales. While its customer base is stagnant, the average customer buys around twelve units of product per year. It is planning to achieve its objective by increasing the number of promotional pricing events to one every three months. Which of the following, if it is a realistic possibility, casts the most serious doubt on the viability of the company's plan?

  1. New production capacity would not be required if the company achieves an increase in its unit sales.

  2. Pre-purchased stock of the tooth-paste would be high just before onset of promotional pricing events.

  3. The competitors of the company would match its promotional pricing, and its customers would learn to wait for these events to buy their wares.

  4. New flavors and variants would increase customers' interest in the product, but the customers' requirements for older flavors and variants would not be reduced.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The company seeks to enhance its sales by increasing the number of promotional pricing events. If its competitors start matching that and its customers start waiting for those events to buy, any chance of increase in sales is completely negated. Hence (3)

Multiple choice

Which of the following can definitely not be inferred from the passage?

Directions: Answer the given question based on the following passage:

Strictly speaking, it is a public notice or announcement for advertising goods or services in newspapers, billboards or through radio broadcasts. We advertise because we wish to draw attention of consumers or prospective clients to goods, services and vacant positions on offer, and this is done through public medium. This is one of the most effective ways to sell, promote or seek employees. We advertise because in this jungle of variegated products, we need to inform consumers about what is available in the market to meet their everyday changing demand. In this burgeoning market of consumerism, if we fail to communicate effectively with the prospective buyers of our goods, we shall be left behind and get finally kicked out of the market.  So, in order to sell products, in order to survive the cut-throat competition and to sustain a business/economic activity, advertisement is a must tool. It not only keeps one in the mainstream, but also afloat. While this is the underlying principle and philosophy, the basic idea of advertisement is to reach out to people and to build clientele base.
There was a time when this was achieved through newspapers and radio broadcasts. But today the scenario has altered radically. While newspapers and radio broadcasts continue to play an important role to boost advertisement campaigns, there are many inexpensive and more innovative means of reaching out and for building clientele base. Electronic medium has come to acquire a very important place in advertisement. And electronic medium is not restricted to television channels and visuals alone. It includes online internet facilities and all that goes with it including facebook, twitter and blog (web log). Net is the new radio. Web world has become an integral part of every individual who thinks global, not local, and has become integrated with every field of activities. Any activity, be it buying or selling something, can be done via a website. This shows that a website is like an online advertisement that helps in marketing a product or an idea to a number of people in just one go. So, an individual who is internet savvy and can think out of the box can become a web designer and an effective advertiser. A web designer is an artist who decides and sculpts the look and feel of a website by employing his aesthetic sense and by turning a website into a product that sells. If we have one such designer in our midst, we have a classic advertiser in this web designer.
But there is no substitute for words. Words speak far more effectively than anything else. Visuals too cannot overshadow words. The only exception to this rule would be when the target group is illiterate. When the target group is not literate, visuals play their part though it is important for the visuals to relate to the product so that those who see the visual understand the relationship. Failure to relate with the product may be counterproductive. (Fundamentals of English Grammar, Prabhat Publications, New Delhi)

 

  1. Without resorting to advertisement, it is not possible for a business to survive in the competitive market today.

  2. The activities of buying and selling can be effectively and cheaply carried out with the help of website.

  3. Website designer is a hotly pursued entity in the business world today for efficacy and innovation.

  4. Internet provides immense opportunity for those who are computer-savvy and have a knack for web designing.

  5. Newspapers and radio broadcasts have outlived their utility in the changed market scenario of the day.

Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

This is not true and it cannot be inferred from the passage. This is the answer to the question.

Multiple choice

What is the kernel of this passage?

Directions: Answer the given question based on the following passage:

Strictly speaking, it is a public notice or announcement for advertising goods or services in newspapers, billboards or through radio broadcasts. We advertise because we wish to draw attention of consumers or prospective clients to goods, services and vacant positions on offer, and this is done through public medium. This is one of the most effective ways to sell, promote or seek employees. We advertise because in this jungle of variegated products, we need to inform consumers about what is available in the market to meet their everyday changing demand. In this burgeoning market of consumerism, if we fail to communicate effectively with the prospective buyers of our goods, we shall be left behind and get finally kicked out of the market.  So, in order to sell products, in order to survive the cut-throat competition and to sustain a business/economic activity, advertisement is a must tool. It not only keeps one in the mainstream, but also afloat. While this is the underlying principle and philosophy, the basic idea of advertisement is to reach out to people and to build clientele base.
There was a time when this was achieved through newspapers and radio broadcasts. But today the scenario has altered radically. While newspapers and radio broadcasts continue to play an important role to boost advertisement campaigns, there are many inexpensive and more innovative means of reaching out and for building clientele base. Electronic medium has come to acquire a very important place in advertisement. And electronic medium is not restricted to television channels and visuals alone. It includes online internet facilities and all that goes with it including facebook, twitter and blog (web log). Net is the new radio. Web world has become an integral part of every individual who thinks global, not local, and has become integrated with every field of activities. Any activity, be it buying or selling something, can be done via a website. This shows that a website is like an online advertisement that helps in marketing a product or an idea to a number of people in just one go. So, an individual who is internet savvy and can think out of the box can become a web designer and an effective advertiser. A web designer is an artist who decides and sculpts the look and feel of a website by employing his aesthetic sense and by turning a website into a product that sells. If we have one such designer in our midst, we have a classic advertiser in this web designer.
But there is no substitute for words. Words speak far more effectively than anything else. Visuals too cannot overshadow words. The only exception to this rule would be when the target group is illiterate. When the target group is not literate, visuals play their part though it is important for the visuals to relate to the product so that those who see the visual understand the relationship. Failure to relate with the product may be counterproductive. (Fundamentals of English Grammar, Prabhat Publications, New Delhi)

 

  1. Communication

  2. Advertisement

  3. Print media

  4. Electronic media.

  5. Written words
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Kernel is the most vital part of something. Communication is the most important part of this passage; therefore, the kernel.

Multiple choice

While so many publicity tools are available in the market, the writer seems to advocate the case of internet ostensibly because

Directions: Answer the given question based on the following passage:

Strictly speaking, it is a public notice or announcement for advertising goods or services in newspapers, billboards or through radio broadcasts. We advertise because we wish to draw attention of consumers or prospective clients to goods, services and vacant positions on offer, and this is done through public medium. This is one of the most effective ways to sell, promote or seek employees. We advertise because in this jungle of variegated products, we need to inform consumers about what is available in the market to meet their everyday changing demand. In this burgeoning market of consumerism, if we fail to communicate effectively with the prospective buyers of our goods, we shall be left behind and get finally kicked out of the market.  So, in order to sell products, in order to survive the cut-throat competition and to sustain a business/economic activity, advertisement is a must tool. It not only keeps one in the mainstream, but also afloat. While this is the underlying principle and philosophy, the basic idea of advertisement is to reach out to people and to build clientele base.
There was a time when this was achieved through newspapers and radio broadcasts. But today the scenario has altered radically. While newspapers and radio broadcasts continue to play an important role to boost advertisement campaigns, there are many inexpensive and more innovative means of reaching out and for building clientele base. Electronic medium has come to acquire a very important place in advertisement. And electronic medium is not restricted to television channels and visuals alone. It includes online internet facilities and all that goes with it including facebook, twitter and blog (web log). Net is the new radio. Web world has become an integral part of every individual who thinks global, not local, and has become integrated with every field of activities. Any activity, be it buying or selling something, can be done via a website. This shows that a website is like an online advertisement that helps in marketing a product or an idea to a number of people in just one go. So, an individual who is internet savvy and can think out of the box can become a web designer and an effective advertiser. A web designer is an artist who decides and sculpts the look and feel of a website by employing his aesthetic sense and by turning a website into a product that sells. If we have one such designer in our midst, we have a classic advertiser in this web designer.
But there is no substitute for words. Words speak far more effectively than anything else. Visuals too cannot overshadow words. The only exception to this rule would be when the target group is illiterate. When the target group is not literate, visuals play their part though it is important for the visuals to relate to the product so that those who see the visual understand the relationship. Failure to relate with the product may be counterproductive. (Fundamentals of English Grammar, Prabhat Publications, New Delhi)

 

  1. it is the in-thing and has greater reach

  2. it is superior to all others in applicability

  3. it can be handled by all without exception

  4. it is inexpensive and more innovative

  5. in the given scenario this is the best
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

It is certainly inexpensive and innovative in the hands of those who have expertise which is precisely why the writer advocates for it. This is the answer.

Multiple choice

The author says, 'it not only keeps one in the mainstream, but also afloat.' How, according to the passage, is this achieved?

Directions: Answer the given question based on the following passage:

Strictly speaking, it is a public notice or announcement for advertising goods or services in newspapers, billboards or through radio broadcasts. We advertise because we wish to draw attention of consumers or prospective clients to goods, services and vacant positions on offer, and this is done through public medium. This is one of the most effective ways to sell, promote or seek employees. We advertise because in this jungle of variegated products, we need to inform consumers about what is available in the market to meet their everyday changing demand. In this burgeoning market of consumerism, if we fail to communicate effectively with the prospective buyers of our goods, we shall be left behind and get finally kicked out of the market.  So, in order to sell products, in order to survive the cut-throat competition and to sustain a business/economic activity, advertisement is a must tool. It not only keeps one in the mainstream, but also afloat. While this is the underlying principle and philosophy, the basic idea of advertisement is to reach out to people and to build clientele base.
There was a time when this was achieved through newspapers and radio broadcasts. But today the scenario has altered radically. While newspapers and radio broadcasts continue to play an important role to boost advertisement campaigns, there are many inexpensive and more innovative means of reaching out and for building clientele base. Electronic medium has come to acquire a very important place in advertisement. And electronic medium is not restricted to television channels and visuals alone. It includes online internet facilities and all that goes with it including facebook, twitter and blog (web log). Net is the new radio. Web world has become an integral part of every individual who thinks global, not local, and has become integrated with every field of activities. Any activity, be it buying or selling something, can be done via a website. This shows that a website is like an online advertisement that helps in marketing a product or an idea to a number of people in just one go. So, an individual who is internet savvy and can think out of the box can become a web designer and an effective advertiser. A web designer is an artist who decides and sculpts the look and feel of a website by employing his aesthetic sense and by turning a website into a product that sells. If we have one such designer in our midst, we have a classic advertiser in this web designer.
But there is no substitute for words. Words speak far more effectively than anything else. Visuals too cannot overshadow words. The only exception to this rule would be when the target group is illiterate. When the target group is not literate, visuals play their part though it is important for the visuals to relate to the product so that those who see the visual understand the relationship. Failure to relate with the product may be counterproductive. (Fundamentals of English Grammar, Prabhat Publications, New Delhi)

 

  1. By unfailingly keeping consumers & market updated.

  2. By making effective use of various tools of publicity.

  3. By never getting out of the visibility zone of consumers.

  4. By flooding the market with quality products/services.

  5. By remaining in constant touch with the market forces.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The important thing is that one not only must remain in the mainstream, but also afloat. This can be achieved if one remained within the visibility zone of consumers. After all, it is the consumers who matter. Appropriate answer.

Multiple choice

Direction: Do as directed for the question.

Customer–driven (wants) and need–oriented (needs) selling begins with the sales professional doing a Need Analysis. In Need Analysis, the goal is to X–ray the prospect. The sales professional develops the skill and talents necessary to look within the customer and find the need of the customer – to uncover existing needs. These needs may be on the surface or just below the surface, but they definitely exist. Your duty (and opportunity) as a sales professional is to get those needs out into the open - to discover needs. As you are searching for needs, “wants” and desires will surface. Do not make the mistake of discounting these wants as frivolous because prospects take action on their “wants” as well as their needs. Please understand that I did not say you invent or create the need and wants. That is not selling. You uncover a need that is already there and, in the process, render a real service. The argument above assumes that

  1. smart selling requires identifying with the customer

  2. the customers can be tutored

  3. the selling professional can make the customer introspect

  4. even if the customers come to you and ask for your product or service, it is entirely possible that they have not properly identified what they are really looking for

  5. it is entirely possible to make the customers buy more than what they want or need
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The very act of differentiating ‘wants’ and ‘needs’ assumes that the customer does not always identify what he wants. Answer: (4)