Tag: elements of business

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Questions Related to elements of business

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

Bull dogs bonds are ______________________.

  1. Dollar denominated foreign bonds raised in the UK domestic securities market

  2. Sterling denominated foreign bonds raised in the UK domestic securities market

  3. Sterling denominated foreign bonds raised in the Us domestic securities market

  4. Euro denominated foreign bonds raised in the UK domestic securities market

  5. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Bulldog bonds are sterling denominated foreign bonds which are raised in the UK domestic securities market.

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

Which of the following American company fall under the network marketing umbrella?
1. Ducati
2. Coca cola
3. Amway
Select the correct answer from the options given below.

  1. 1 & 3

  2. 2 only

  3. 3 only

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

Amway is a well-known multi-level marketing (network marketing) company. Ducati and Coca-Cola operate through traditional retail and distribution channels.

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

____________ account for the bulk of call centre activities with 24 x 7 handing of inbound customer queries and grievances and out-bound activities customer surveys, payment follow up, and telemarketing.

  1. Agent care

  2. Customer care

  3. Seller care

  4. Manufactures care
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Call centers primarily handle customer-facing interactions, including inquiries, grievances, and surveys, which falls under the category of customer care.

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

In marketing the law of _________ is followed.

  1. ceveat emptor, let the buyer beware

  2. ceveat Vendor, let the seller beware

  3. both (a) & (b)

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

In modern marketing, the law followed is caveat vendor (let the seller beware) rather than the traditional caveat emptor (let the buyer beware). This shift places responsibility on sellers for product quality, claims, and consumer protection, reflecting modern consumer protection laws and ethical marketing practices. Note: options have typo 'ceveat' for 'caveat'.

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.