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 business organisation and correspondence middlemen 1 - wholesaler characteristics of wholesale trade kinds of mercantile agents or agent middlemen wholesale trade characteristics, necessity, services and survival of a wholesaler

Market influences the choice of channels of distribution. Identify the factors related to market.

  1. For consumer market, retailer is essential whereas in business market we can eliminate retailing.

  2. For large market size, there are many channels, whereas, for small market size direct selling may be profitable.

  3. For highly concentrated market, direct selling is preferred.

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

Market influences sometimes called the internal environment include price, human resources, and firm culture. External influences, or the external environment, include technology, competitors and the economy. 

Small businesses tend to have more control over internal influences than external ones.

Multiple choice social science index number value and price important index numbers price rise/inflation

Pricing strategy which considers setting price after designing marketing program is termed as _______.

  1. Value based pricing

  2. Cost based pricing

  3. Discount based pricing

  4. Ceiling based pricing
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Value-based price is a pricing strategy which sets prices primarily, but not exclusively, according to the perceived or estimated value of a product or service to the customer rather than according to the cost of the product or historical prices.

Multiple choice elements of business fundamentals of business activities factors affecting business interrelationship between industry, commerce and trade other aspects of a business

Which of the following is an important factor of success in a goods production company?

  1. Customers

  2. Marketing intermediates

  3. Workers

  4. Low cost of production of goods
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A goods production company runs on manufacturing and supply of the manufactured goods, for this kind of a company to be a successful, it has to consider the factor of low cost of production as important to manufacture more goods at low cost and earn profits.

Multiple choice elements of business marketing and sales difference between marketing and sales marketing and sales department ideologies/concepts/views of marketing management

Marketing strategy development is also known as _______.

  1. marketing control

  2. marketing exercise

  3. marketing planning

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

Marketing planning helps a company to pen down the marketing strategies and tactics to be followed for targeting maximum people in the target group. Marketing planning focuses on a specific period of time and also covers many marketing details. 

Multiple choice elements of business marketing and sales difference between marketing and sales marketing and sales department ideologies/concepts/views of marketing management

Scope of _______ is limited but scope of _________ is wider.

  1. Selling, Manufacturing

  2. Marketing, Publicity

  3. Selling, Marketing

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

Marketing is a broad, somewhat simplistic concept, where selling is thought of as the exchange activity. Marketing is an overall Organisational activity (the planning, pricing, promotion, packaging, advertising) and selling of any Value Offer (Product) Selling is therefore only a part of the overall Marketing of any Product and therein lies the difference.

Multiple choice elements of business marketing and sales difference between marketing and sales marketing and sales department ideologies/concepts/views of marketing management

Marketing strategy development is also known as ________.

  1. Marketing Control

  2. Marketing Exerciese

  3. Marketing Planning

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

Marketing planning helps a company to pen down the marketing strategies and tactics to be followed for targeting maximum people in the target group.Marketing planning focuses on a specific period of time and also covers many marketing details.

Multiple choice elements of business marketing and sales difference between marketing and sales marketing and sales department ideologies/concepts/views of marketing management

Which one of the following contains the three elements of service marketing triangle?

  1. Management, Marketing Agency and Consumer.

  2. Marketing Agency, Government and Consumer.

  3. Management, Employees and Marketing Agency.

  4. Management, Employees and Consumer
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The service marketing triangle suggests that there are three types of marketing that must be successfully carried out for a service organisation to succeed, and that all of them revolve around making and keeping promises to customers. 

The internal marketing efforts between the management and the employees.
The external marketing efforts between management and consumer to set the promise.
The interactive marketing efforts between employees and consumer to deliver what is promised.

Multiple choice elements of business marketing and sales difference between marketing and sales marketing and sales department ideologies/concepts/views of marketing management

Marketing management is ________.

  1. managing and marketing process

  2. monitoring the profitability of the company products and services

  3. selecting target markets

  4. the art and science of choosing target market and getting, keeping and growing customer-base through creating, delivering and communicating superior customer value
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Marketing management is defined by the American Marketing Association and Kotler as the art and science of selecting target markets and building profitable relationships with them.

Multiple choice elements of business marketing and sales difference between marketing and sales marketing and sales department ideologies/concepts/views of marketing management

Market segmentation aims to ________.

  1. identify the similarities and differences between groups of customers or users

  2. identify the similarities between groups of customers or users

  3. identify the differences between organizations and their competitors

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Market segmentation is the process of dividing a broad consumer market into sub-groups based on shared characteristics, identifying both similarities within groups and differences between them.

Multiple choice elements of business marketing and sales difference between marketing and sales marketing and sales department ideologies/concepts/views of marketing management

One aim of societal marketing is to ___________.

  1. consider consumers needs and long-term welfare

  2. encourage satisfaction of short-term needs

  3. demand support from local communities

  4. form partnerships which benefit the selling organization
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The societal marketing is a marketing concept that holds that a company should make marketing decisions not only by considering consumers' wants, the company's requirements, but also society's long-term interests.

Multiple choice elements of business marketing and sales difference between marketing and sales marketing and sales department ideologies/concepts/views of marketing management

A company's marketing environment includes various __________ that are made up of group that have an actual or potential interest in, or impact on, an organisation's ability to achieve its objectives.  

  1. Publics

  2. Intermediaries

  3. Teams

  4. Audiences
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In marketing, 'publics' refers to any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives.

Multiple choice elements of business marketing and sales difference between marketing and sales marketing and sales department ideologies/concepts/views of marketing management

The selling concept is most likely to be used by firms which sell _______.

  1. convenience goods

  2. shopping goods

  3. speciality goods

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

Selling concept states that consumers will not buy enough of company's products unless they are persuaded to do so through selling efforts. Hence organizations should undertake selling and promotion of their product for marketing success. Unsought goods are the goods or products that customers do not know about or do not think of buying.

Multiple choice elements of business marketing and sales difference between marketing and sales marketing and sales department ideologies/concepts/views of marketing management

Which segmentation approach is the most compatible with the spirit of the marketing concept?

  1. Benefit sought

  2. Income

  3. Social class

  4. Family size
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Benefit sought is a segmentation approach which divides the market based upon the perceived value, benefit or advantage consumers perceive that they receive from a product or service. Benefit sought is the most compatible with the spirit of the marketing concept because it delivers the maximum  customer satisfaction and makes a win win situation for the organization and consumers.

Multiple choice elements of business marketing and sales difference between marketing and sales marketing and sales department ideologies/concepts/views of marketing management

Which of the following is not a method of segmenting a market?

  1. Behavioural segmentation

  2. Psychograpic segmentation

  3. Benefits segmentation

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

Market segmentation refers to dividing a vast market or consumers. It is carried out to select the best suitable market for the product or service offered by a company. 

The most common forms of market segmentation are-behavioral segmentation which divides the market based on the consumer's behaviour, usage pattern and buying pattern.
  • Physchographic segmentation uses the people' lifestyle, activities and interests as a bases of segmentation.

Benefits segmentation refers to dividing the market based on the advantage or benefit the consumers perceive that they obtain from the product.