Marketing Aptitude Quiz 2010 - III

1.      Marketing is not required for one of the following products ________?

a)Corporate Loans    b)Export Business     c)Import Business    d)Credit Card Business  e)none

2.      A ‘Buyers’ Market’ means _______?

a)buyers are also sellers

b)sellers are also buyers

c)there are no sellers

d)demand exceeds supply

e)supply exceeds demand

3.      Market share analysis helps the track _________?

a)Share price movements     b)percentage share of business    c)pricing strategy for share values    d)All of these   e)none 

4.      Diversification means __________?

a)marketing in different countries    

b)marketing diverse companies   

c)making new, diverse products  

d)marketing by diverse sales team   

e)none

5.      Study of marketing environment means ______________?

a)study of company’s markets, customers and competitors

b)study of economic environment

c)study of current trends

d)All of these

e)none

6.      A Market plan includes __________?

a)market objectives     b)market research     c)pricing strategy     d)situation analysis    e)All of these

7.      Customization is useful for ______?

a)motivating the sales force     b)to add variety in marketing    c)value added service    d)pleasing target customers    e)none

8.      Telemarketing campaigns are resorted to ________?

a)avoid cold calls     b)avoid buyer resistance    c)avoid seller inhibitions    d)reaching a wider audience    e)All the above

9.      Customer Retention means ___________?

a) retaining the customers at the Bank for the full day

b)quick disposal

c)customers dealing with the same bank for long time

d)better standards

e)All the above

10. The Traditional Marketing style involves __________?

a)Telemarketing     b)Direct Marketing    c)Indirect Marketing    d)Digital Marketing    e)All the above

11.  Which is the technique used for effective marketing planning?

a)psychological tools for marketing

b)goal oriented

c)marketing research

d)physical distribution

e)All the above

12.  ‘Niche’ Market means __________?

a) a free market    b)a social market     c)equity market     d)capital market    e)a specified market for the target group

13. Internal Marketing means _________?

a) Selling to oneself    b) Selling to the employees    c) Selling of samples    d) Selling to foreign markets    e)none

14. Marketing in Banks is required for _________?

a)Getting new customers

b)Retaining existing customers

c)Lending

d)Accepting of deposits

e)All of these

15. Advertisements are required for __________?

a)Boosting the production levels

b)Motivating the employees

c)Boosting the sales

d)All of these

e)none

16. A Call means ___________?

a)calling on friends     b)calling on bank employees     c)calling on prospective customers     d)calling on insurance employees    e)none

17. For effective selling, salesman should be which of the following ______?

a)pushy     b)aggressive     c)timid     d)calmness     e)talkative

18. Customer Loyalty means _________?

a)shifting of customers from one bank to another

b)customers banking with one bank exclusively

c)customers returning lost items

d)customers giving gifts to banks

e)none of these

19. Rural Marketing involves ________?

a)selling to farmers and agriculturalists

b)selling to rural households

c)selling to rural industries

d)All the above

e)none

20. Which is the Four C’s of marketing?

a)customer, cost, communication, convenience

b)corporate, cost, communication, convenience

c)consumer, cost, communication, convenience

d)competition, cost, communication, convenience

e)none

Note:

4 P’s vs 4 C’s vs 4V’s:

i)Product                  vs.       Consumer                 vs.       Validity

ii)Price                     vs.       Cost                          vs.       Value

iii)Promotion           vs.       Communication       vs.       Vogue

iv)Place                     vs.       Convenience            vs.       Venue

4 A’s of marketing:

i)Availability

ii)Affordability

iii)Acceptability

iv)Awareness

4 E’s of Marketing:

i)Experience(Product incase of 4 P’s)

ii)Everyplace(Place)

iii)Exchange(Price)

iv)Evangelism(Promotion)

4 R’s of Marketing:

i)Relationships

ii)Retention

iii)Results

iv)Rewards

4 M’s of marketing:

i)Measurement

ii)Media

iii)Market

iv)Message

Marketing Concepts for Bank Exams - 2010

Abbreviations that may be asked in Marketing Aptitude:

·        HNI – High Networth Individual.

·        EOQ – Economic Order quality.

·        FDR – Fixed Deposit Receipts.

·        CNP – Cardholder Not Present.

·        PIN – Personal Identification Number.

·        SEO – Search Engine Optimization.

·        CRM – Customer Relationship Management.

·        BPO – Business Process Outsourcing.

·        VAT – Value Added Tax.

·        IDRA – Industries Development and Regulation Act.

·        MR – Marginal Revenue.

·        PAN – Permanent Account Number.

·        BEP – Break Even Point.

·        NPA – Non Performing Assets.

·        ATM – Automated Teller Machine.

·        ROA – Return on Assets.

·        M & A – Mergers & Acquisitions.

·        SEBI – Securities Exchange Board of India.

·        GDP – Gross Domestic Product.

·        IPO – Initial Public Offering.

What is Viral Marketing?

Marketing by the word of the mouth, having a high pass-rate from person to person is called Viral marketing.  Creating a 'buzz' in the industry is an example of viral marketing.

What is Bench Marketing?

A comparison of the business processes with competitors and improving prevailing ones is called bench marketing.

What is Drip Marketing?

The method of sending promotional items to clients is called Drip marketing.

What is Guerilla Marketing?

Unconventional marketing intended to get maximum results from minimal resources is nothing but Guerilla Marketing.

What is Social Media Marketing?

Social media marketing is marketing using online communities, social networks, blog marketing and more.

What is Direct Marketing?

Direct Marketing is a form of advertising that directly reaches to the customers on a personal basis (like phone calls, private mailings, etc) rather than traditional channel of advertising (like TV, Newspapers, etc).

Types of Direct marketing:

There are many types of direct marketing, only some important types are listed below and these are the most form of direct marketing.

i)Direct Mail Marketing: Advertising material sent directly to home and business addresses. This is the most common form of direct marketing.

ii)Telemarketing: It is the second most common form of direct marketing, in which marketers contact consumers by phone.

ii)Email Marketing: This type of marketing targets customers through their email accounts.

What is Indirect Marketing?

Indirect Marketing is the distribution of a particular product through a channel that includes one or more resellers.

Difference b/w Direct and Indirect Marketing:

Direct marketing is basically advertising your own products or services.

In the same way you might advertise for someone else is called Indirect marketing, is an increasingly popular way of doing business.

What is Internet Marketing?

Internet marketing is the marketing of products or services over the Internet.

Internet Marketing is also known as i-marketing, web-marketing, online-marketing, Search Engine Marketing (SEM) or e-Marketing.

What is Digital Marketing?

Digital Marketing is the practice of promoting products and services using all forms of digital advertising. It includes Television, Radio, Internet, mobile and any other form of digital media.

Marketing Mix:

The Marketing Mix model (also known as the 4 P's) can be used by marketers as a tool to assist in defining the marketing strategy. The idea was that if you could identify the right combination of these elements, your marketing would succeed. E. Jerome McCarthy introduced the 4 P's of Marketing as a way to describe the mix of factors required to successfully market a product.

The 4 P’s are:

·        Product

·        Price

·        Promotion

·        Place (distribution)

The 5 P’s of marketing is 4 P’s + People/Packaging/Process/etc.

The 7 P’s of marketing consists of:

·        Product

·        Price

·        Place

·        Promotion

·        People

·        Process

·        Physical evidence.

The first 4 P's are considered the basis of any marketing process. The last 3 P's are a recent addition to the entire marketing process.

What is SWOT Analysis?

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues. Strengths and weaknesses are internal factors. Opportunities and threats are external factors.

What is Customer Relationship Management (CRM)?

Customer Relationship Management concerns the relationship between the organization and its customers. It is a process or methodology used to learn more about customers' needs and behaviors in order to develop stronger relationships with them.

What are the Three Levels of a Product?

·        Core Product

·        Actual Product

·        Augmented Product

What is Market Research?

Market research is any organized effort to gather information about markets or customers. Market research is for discovering what people want, need, or believe. It can also involve discovering how they act. Once that research is completed, it can be used to determine how to market your product.

What is Market Information?

To know the prices of the different commodities in the market, as well as the supply and demand situation.

What is Market Segmentation?

The division of a market into different homogeneous groups of consumers is known as market segmentation. The purpose for segmenting a market is to allow your marketing program to focus on the subset of prospects that are "most likely" to purchase your offering. If done properly this will help to insure the highest return for your marketing expenditures.

What is Branding?

The essence of a product, its quality and competitiveness displayed in the form of letters, symbols and colours is known as branding.

What is Marketing?

The process of planning and executing the concepts, pricing, promotion and distribution of ideas/goods/services to satisfy individual's/organizational goals is called marketing.

Marketing Aptitude Quiz II - 2010

1.      Customization means ___________?

a)Designing products to suit company

b)Designing products to suit individual customers

c)Designing strategies to suit both company and customers

d)All the above

e)none

2.      For effective marketing the salesmen should have which of the following qualities?

a)Creativity   b)Team spirit   c)Motivation   d)Effective communication skills  e)All of these

3.      If Marketing is done effectively which of the following is not required?

a)Advertisement   b)Publicity   c)Market Research   d)Market Segmentation   e)None of these

4.      Digital Marketing means ____________?

a)Marketing of digital instruments

b)Marketing through Advertisements

c)Marketing through Internet and Telephones

d)Both b & c

e)none

5.      What are the 4 P’s in Marketing?

a)purpose, place, product and promotion

b)person, place, product and promotion

c)price, place, product and promotion

d)person, price, product and promotion

e)none

6.      Relationship selling means __________?

a)Cross selling    b)Selling to relatives   c)telemarketing    d)preparing a list of products to sell for customers   e)none

7.      Credit cards are used for ________?

a)Cash withdrawals    b)Purchase of air tickets   c)Purchase of consumable items from retail outlets   d)All of these   e)None of these

8.      Marketing is successful when __________?

a)Demand exceeds supply    b)Salesman are effectively trained    c)Supply exceeds demand    d)a company sell products  at lower price   e)none

9.      A prospect means __________?

a)a person who is working in a bank/financial institution 

b)details of a company

c)a likely buyer

d)head of an financial institution

e)none

10. NRI is an easy target for effective marketing because _________?

a)he likes Indian goods

b)he is easily approachable

c)it is cheaper to contact NRISs

d)there are special products designed for NRIs

e)none

11. Difference between Direct and Indirect Marketing is_______?

a)Direct marketing is to banks employees, while Indirect is to outsiders

b)Direct marketing is to outsider, while Indirect is to bank employees

c)Direct Marketing is to Bank’s owner, Insiders is to outsiders

d)Direct Marketing is to other Bank’s employees, Indirect s outsiders

e)none

12. Effective marketing helps in ________?

a)developing new products

b)creating a competitive environment

c)building demand for products

d)All of these

e)None of these

13. In Banking services, market can be segmented on the basis of _______?

a)density   b)customers   c)both a and b    d)Neither a nor b    e)none

14. Promotion in Marketing means—

a) passing an examination

b) elevation from one grade to another

c) selling the products through various means

d) selling the product in specific areas

e) None of these

15. In ‘Double-win’ strategy-

a) Customer gets an additional benefit

b) Customer gets price debate.

c) Both customs and the sales person come out with sense of satisfaction

d) Both (a) and (b)

e)none

16. Which among the following is not an example of Direct marketing?

a)tele-marketing   b)sales on internet   c)mail order sales   d)Retail stores   e)none

17. A method, in which Brand equity is measured by comparing difference between the retail price of the brand and the retail price of an unbranded product in the same category is called:

a)Brand goodwill method    b)Price premium method    c)Both a and b   d)Neither a nor b   e)none

18. In marketing ‘initiator’ is a term which describes ________?

a)who determines that some need is not being met and authorities a purchase to rectify the situation

b)who most directly involved in the consumption of the product

c)Both a and b

d)Neither a nor b

e)none

19. A non traditional, low cost, flexible and highly effective marketing is termed as ___________?

a)Strategic marketing    b)Guerilla Marketing(Ans)    c)Direct Marketing    e)Indirect Marketing   e)none

20. Which of the following is most appropriate reason for Bank marketing? 

      a)Globalization

b)Variety of Banking products

c)mergers

d)Recession

e)none