Marketing Fundamental Guide

Marketing
IntroductiontoMarketing&itsimportance Thisaspectcoversconceptslikemarket,itstypes,scope,marketingasafunctionandasaphilosophy, marketingmanagement,itsimportanceandmarketingmix. Introduction: Alayman'sconceptofmarketingisthatofsellingtheproductsorservicesbuttheideaismuchbroader. Itisessentiallyrelatedtocustomersatisfaction. Thefirstbarterexchangecanbelookeduponasareflectionoftherealizationthatexchangeaddsvalue tobothpartiestothetransaction.Thisindeedmarkedthedawnofmarketing.Sincethentheevolution ofcommercethroughvariousstageshasledtodevelopmentofmarketingintoaphilosophyof business. Marketingisbothaconceptandapractice;anapproachtoexchangerelationships,whichprovidesthe drivingforceforformulationofstrategiesofeverytypeoforganization.Itisanimportantsocio economicactivity.Marketingisnotlimitedtobusinessactivityalone,butitalsoappliestoother activitieslikesocialservices,electionsetc. Marketingconcept: Market: Thewordmarketgenerallyreferstotheplacewheregoodscanbeboughtorsold. Amarketconsistsofcustomerssharingaparticularneedorwantwhomightbeabletoengagein exchangetosatisfythatneedorwant. Marketimplies: a) Asituationwherebuyersandsellersofacommodityinteract. b) Comingtogetherofbuyersandsellersofthesameorsimilarcommodities. Itispossibleforsellerstobedealinginonevarietyofsoapandthebuyersbeinginterestedinanother variety,whichcanbesubstitutedbytheoneavailablewithsellers. Marketisnotnecessarilyageographicalarea.Groupsofbuyersandsellerscanbelocatedwideapart fromeachother.Withtheadvancedanddevelopedcommunicationandtransportfacilities,thebuyers andsellerscaneasilycontacteachothereveniftheyarephysicallyatlongdistances.
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Amarketmaycomprise: 1) 2) 3) 4) 5) TypesofMarkets Basisof classification Geographical area Product Typesofmarket OneSellerandmanyBuyers ManysellersandOneBuyer ManysellersandManyBuyers FewsellersandManyBuyers ManySellersandFewBuyers
(a)Localmarket;(b)Regionalmarket;(c)national market;(d)World/globalmarker (a)Cotton/vegetable/teamarket;(b)sharemarket; (c)bullionmarket;(d)capitalmarket;(e)realestate market (a)Cash/spotmarket;(b)futuresmarket
Natureof transaction Volumeof transaction Marketing:
(a)Retailmarket;(b)Wholesalemarket
Marketinghasbeendefinedinseveralways:like 1) Meetingneedsprofitably 2) Theprocessofdeterminingconsumerdemandforaproductorservice,motivatingitssaleand distributingitintoultimateconsumptionataprofit. 3) Creationandmaintenanceofmutuallysatisfyingexchangerelationshipsetc. Fromseveraldefinitionsgivenworldwideitcanbeinterpretedthat 1 2 Focusofmarketingisonconsumer. Ahumanneedisastateofdeprivationofsomebasicsatisfaction,whichresultsindesirefor specificsatisfiersoftheseneeds,namelywants.Wantsforspecificproductsbackedbyan abilityandwillingnesstobuythemresultsindemand. Theconcepthasbecomemorecomprehensivemovingfromassessingandfulfillingconsumer demand,toidentifyingneedsandwantsanddeterminingproductsandservices.Indeedinthe
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presentage,marketingincludesnotonlyanticipatingtheconsumerneedsbutalsokindling needsandprovidingnewproductsandservicestofulfillthem. Scope: Thescopeofmarketinginmoderndayscovers,besidesgoodsandservices,otherentitieslike experiences,events,persons,properties,organizations,informationandideas.Marketingisa combinationofbusinessmanagementandthephilosophyofbusiness. Marketingasamanagementfunction: Fromoneperspectiveitisafunctionalareaofmanagementandiswithinthefirmusingvarious developedtechniquesforachievingspecificobjectives.Itsmajorroleistoidentifythecurrentand futureneedsandwantsofspecificallydefinedtargetmarkets.Theorganizationactsuponthis informationtoproducegoodsandservicestosatisfycustomerrequirements.Marketingprovides entrepreneurshipbyidentifyingopportunitiesincustomerrequirementsanddrivingmobilizationof resourcestocapitalizeonthem.Marketingformsinterfacewiththeexistingandpotentialcustomers. Marketingasabusinessphilosophy: Fromanotherperspectivemarketingismuchmorethanamanagementfunction.Itisawayofthinking aboutbusinessandawayofworkingrunningthrougheveryaspectofthefirm'sbusiness.Itisa customerandprofitorientedapproachpermeatingtheentirebusiness.Itis,therefore,anattitudeof mindandhenceanoverallbusinessphilosophy. MarketingvsSelling: Marketingisabroaderconceptthanselling. Firmsselltheirgoodsorservicestothecustomerswhobuythem.Marketingrelatestoproducingor creatinggoodsorservicesneededbythecustomers.Intheformercase,theobjectiveistosell whateverisavailablewiththefirms.Whileincaseofmarketing,theobjectiveistomeetthecustomer's need.
Marketingfunctionstartsmuchbeforeactualsellingofproducts. Sellingisanoperationalactivity,whereasmarketingisatotalmanagementconceptcomprising identificationofcustomerneeds,developingsuitableproductstomeetthoseneeds,delivering(selling) theproductstothecustomersandfacilitatingtheirconsumptionforultimatesatisfactionofthose needs.Thussellingisapartofmarketing. Sellingisproductfocusedwhereasmarketingiscustomerfocused. Sellingisorientedtotheneedsofseller(thefirms)whereasmarketingisorientedtotheneedsofthe buyer(thecustomers). Sellingaimsatearningprofitsbymaximizingsalesvolume.Marketingaimsatearningprofitsby maximizingcustomersatisfaction. Marketingconvertscustomerneedsintoprofitableopportunity,whereassellingencashessuch opportunities. Advertisingisaformofcommunicationthattypicallyattemptstopersuadepotentialcustomersto purchaseortoconsumemoreofaparticularbrandofproductorservice.Manyadvertisementsare designedtogenerateincreasedconsumptionofthoseproductsandservicesthroughthecreationand reinforcementof"brandimage"and"brandloyalty".Forthesepurposes,advertisementssometimes embedtheirpersuasivemessagewithfactualinformation.Everymajormediumisusedtodeliverthese messages,includingtelevision,radio,cinema,magazines,newspapers,videogames,theinternetand billboards.Advertisingisoftenplacedbyanadvertisingagencyonbehalfofacompanyorother organization. Advertisementsareseenontheseatsofshoppingcarts,onthewallsofanairportwalkway,onthesides ofbuses,andareheardintelephoneholdmessagesandinstorepublicaddresssystems. Advertisementsareoftenplacedanywhereanaudiencecaneasilyorfrequentlyaccessvisual,audio andprintedinformation. Organizationsthatfrequentlyspendlargesumsofmoneyonadvertisingthatsellswhatisnot,strictly speaking,laproductorserviceincludepoliticalparties,internalgroups,religiousorganizations,and militaryrecruiters.Nonprofitorganizationsarenottypicaladvertisingclients,andmayrelyonfree modesofpersuasion,suchaspublicserviceannouncements. Advertisingspendinghasincreaseddramaticallyinrecentyears.In2006,spendingonadvertisinghas beenestimatedat$155billionintheUnitedStatesand$385billionworldwideAdvertisingis increasinglyinvadingpublicspaces,suchasschools,whichsomecriticsargueisaformofchild exploitation.
Marketingmanagement: Itistheprocessofplanningandexecutingtheconception,pricing,promotionanddistributionof goods,servicesandideastocreateexchangeswithtargetgroupsthatsatisfycustomerand organizationalobjectives. Itcomprisesfourkeyfunctionalaspects,viz.,Analysis,Planning,ImplementationandControl. Thesignificanceofmarketinghasbeenrealizedbyallorganizationswhetherinserviceortrade.Banks arealsonotanexceptiontothis.HighlightsoftheBankMarketingcanbeattributedtothefollowing points. 1.AllOrganizationsprovideServices 2.AimtosatisfyCustomerneedsandwantsofspecificnature. 3.Thenatureofneedsandwantsofthecustomeraregenerallyfinancial,while somemaybeincidentaltoorrelatedthese 4.TheCompetitiveelement,efficiencyandeffectivenessaremajorfactorsin theprocess. 5.Organizationalobjectivesarestillthedrivingforce. MARKETINGRESEARCH MarketingResearchisthefunctionthatlinksconsumer,customerandpublictothemarket,through informationwhichisusedtoidentifyanddefinemarketingopportunitiesandproblems.Itgenerate, refineandevaluatemarketingactions,monitormarketingperformanceandimproveunderstandingsof marketingasaprocessAmericanMarketingAssociation. Marketing Research Marketing
WHYMARKETINGRESEARCH ToIdentifytheNeedsandWants MinditWantsareeverChanging ToIntensifytheMarketingOperationsduetoContinuousFeedbacks. ToEvaluatetheMarketingOperationsanditsEffectivenessvisvistheExpectations ToReducetheRiskofFailures ToSaveCostandTime WHEREMARKETINGRESEARCH? FinancialResearch:Banking,Securities,CreditCard,Insurance,andMutualFunds. AutomotiveResearch:Vehicles,Components,andTyres. MediaResearch ConsumerProductsResearchDurablesandFMCG. IndustrialResearch:ChemicalsandPlasticsPackaging,Textiles,Engineering,BulkDrugs,Metals andMinerals,OilandGases. 6. HealthcareResearch:Consumers,Doctors,Chemists,Hospitals,PatientsandPharma companies. 1. 2. 3. 4. 5. MARKETINGINFORMATIONSYSTEMSMIS Source Internalcontinuousdata:Informationlikeallocationofdiscounts,promotionalandtransport costs,salesachieved,noofnewaccountsopened,sizeoforderetc. Internaladhocdata:Howsaleshavereactedtopricechangeorchangeinadvt.
Environmentalscanning:Economic,social,legalandtechnologicalforces. Marketingresearch:Immediateinformationaboutmarketsandreactionofthesetovarious product,price,distributionandpromotionactions.Marketingmixdecisions.
STP Process
Market Segmentation 1. Identify segmentation variables & segment the market 2. Develop Profiles of resulting segments
Market Targeting
3. Evaluate the attractiveness of each segment 4. Select the target segments
Market Positioning
5. Identify possible positioning concepts for each target segment 6. Select, develop, and communicate the chosen positioning concept
Market Segmentation
Dividing a market into distinct groups with distinct needs, characteristics, or behavior who might require separate products or marketing mixes.
Market Segmentation
More precise definition of customer needs & wants
More Accurate marketing objectives
Improved resource allocation
Better Marketing results
Market Segments & Niches

Market Segments are large identifiable groups within a market, within the car market buyers seeking basic transportation, high performance A niche is a more narrowly defined group which seeks a special combination of benefits,
Market Segmentation Procedure

Survey Stage, starts with exploratory to gain insights into consumer motivations, attitudes and behavior, used to collect data on attributes, brand awareness, product usage patters, attitudes, demographics.. Analysis, factor analysis and cluster analysis Profiling stage, each cluster is now profiled in terms of its distinguishing attitudes, behavior, demographics, psychographics, and mediaconsumption habits. Each segment is given a name
Bases For Segmenting Consumer Markets

GEOGRAPHIC
DEMOGRAPHIC
PSYCHOGRAPHIC
BEHAVIORAL

Geographic Segmentation
Dividing the market into different geographic units such as nations, states, regions. Ex- State-wise, City-wise Rural Vs Urban markets South Vs North
Psychographic Segmentation
Buyers are divided into different groups on the basis of social class, lifestyle, and/or personality Social Class, A B C has a strong influence on the persons preferences in cars, clothing, home furnishing, leisure.. Lifestyle, product interests are influenced by lifestyles. Infact goods they consumer express their lifestyles. Personality, brand personality & consumer personality, sincerity, ruggedness..
Behavioral Segmentation
Buyers are divided into groups on the basis of their knowledge, attitude, use or response to a product Occasion, when they develop a need to purchase or use a product Ex- breakfast cereals, Horlicks, Festival, marriage Benefits, A powerful form, based on the benefits they seek from the product
Market Targeting
Segmentation reveals the market-segment opportunity that exist, now the company has to decide how many and which ones to target.
MarketingMix: Marketingisanongoingprocessofplanningandexecutingthemarketingmix(Product,Price,Place, Promotion)forproducts,servicesorideastocreateexchangebetweenindividualsandorganizations. Marketingtendstobeseenasacreativeindustry,whichincludesadvertising,distributionandselling.It isalsoconcernedwithanticipatingthecustomers'futureneedsandwants,whichareoftendiscovered throughmarketresearch. Essentially,marketingistheprocessofcreatingordirectinganorganizationtobesuccessfulinsellinga productorservicethatpeoplenotonlydesire,butarewillingtobuy. Thereforegoodmarketingmustbeabletocreatea"proposition"orsetofbenefitsfortheend customerthatdeliversvaluethroughproductsorservices Marketingmixisthesetofmarketingtoolsthatafirmusestopursueitsmarketingobjectivesinthe targetmarket. The4P'sofMarketing Marketingdecisionsgenerallyfallintothefollowingfourcontrollablecategories: Product Price Place(distribution) Promotion Theterm"marketingmix"becamepopularizedafterNeilH.Bordenpublishedhis1964article,The ConceptoftheMarketingMix.Bordenbeganusingtheterminhisteachinginthelate1940'safter JamesCullitonhaddescribedthemarketingmanagerasa"mixerofingredients".Theingredientsin Borden'smarketingmixincludedproductplanning,pricing,branding,distributionchannels,personal selling,advertising,promotions,packaging,display,servicing,physicalhandling,andfactfindingand analysis.E.JeromeMcCarthylatergroupedtheseingredientsintothefourcategoriesthattodayare knownasthe4P'sofmarketing,depictedbelow:
TheMarketingMix ThesefourP'saretheparametersthatthemarketingmanagercancontrol,subjecttotheinternaland externalconstraintsofthemarketingenvironment.Thegoalistomakedecisionsthatcenterthefour P'sonthecustomersinthetargetmarketinordertocreateperceivedvalueandgenerateapositive response. ProductDecisions Theterm"product"referstotangible,physicalproductsaswellasservices.Herearesomeexamplesof theproductdecisionstobemade: Brandname Functionality Styling Quality Safety Packaging RepairsandSupport Warranty Accessoriesandservices PriceDecisions Someexamplesofpricingdecisionstobemadeinclude: Pricingstrategy(skim,penetration,etc.) Suggestedretailprice Volumediscountsandwholesalepricing Cashandearlypaymentdiscounts Seasonalpricing Bundling Priceflexibility Pricediscrimination
Distribution(Place)Decisions Distributionisaboutgettingtheproductstothecustomer.Someexamplesofdistributiondecisions include: Distributionchannels Marketcoverage(inclusive,selective,orexclusivedistribution) Specificchannelmembers Inventorymanagement Warehousing Distributioncenters Orderprocessing Transportation Reverselogistics PromotionDecisions Inthecontextofthemarketingmix,promotionrepresentsthevariousaspectsofmarketing communication,thatis,thecommunicationofinformationabouttheproductwiththegoalof generatingapositivecustomerresponse.Marketingcommunicationdecisionsinclude: Promotionalstrategy(push,pull,etc.) Advertising Personalselling&salesforce Salespromotions Publicrelations&publicity Marketingcommunicationsbudget LimitationsoftheMarketingMixFramework Themarketingmixframeworkwasparticularlyusefulintheearlydaysofthemarketingconceptwhen physicalproductsrepresentedalargerportionoftheeconomy.Today,withmarketingmoreintegrated intoorganizationsandwithawidervarietyofproductsandmarkets,someauthorshaveattemptedto extenditsusefulnessbyproposingafifthP,suchaspackaging,people,process,etc.Todayhowever, themarketingmixmostcommonlyremainsbasedonthe4P's.Despiteitslimitationsandperhaps becauseofitssimplicity,theuseofthisframeworkremainsstrongandmanymarketingtextbookshave beenorganizedaroundit. 4Psofmarketing Marketingdecisionvariablesarethosevariablesunderthefirm'scontrolthatcanaffectthelevelof demandforthefirm'sproducts.Theyaredistinguishedfromenvironmentalandcompetitiveaction variablesthatarenottotallyanddirectlyunderthefirm'scontrol.
Thefourmarketingdecisionvariablesare: Pricevariables Allowancesanddeals Distributionandretailermarkups Discountstructure Productvariables Quality Modelsandsizes Packaging Brands Service Promotionvariables Advertising Salespromotion Personalselling Publicity Placevariables Channelsofdistribution Outletlocation Salesterritories Warehousingsystem Fromabuyer'spointofviewthefourCsthatcorrespondto4Psareasfollows. 4Csofmarketing: Customer'sneedsandwants Costtothecustomer Convenience Communication
Service: AServiceisanyactorperformancethatonepartycanoffertoanotherthatisessentiallyintangibleand doesnotresultintheownershipofanything.Itsproductionmayormaynotbetiedtoaphysical product. Aserviceisanactivityorseriesofactivitiesofmoreorlessintangiblenaturethatnormally,not necessarily,takesplaceininteractionsbetweenthecustomerandserviceemployeesand/orphysical resourcesorgoodsand/orsystemsoftheserviceprovider,whichareprovidedassolutionstocustomer problems. Thishighlightsthefollowingimportantfeatures 1.Servicesarebyandlargeactivities 2.Asaresulttheservicesareintangible. 3.Theytakeplaceintheinteractionbetweenthecustomerandserviceprovider,whichmeansthat theservicesareproducedandconsumedsimultaneously Servicesnowaccountformorethan70%ofemploymentandGNPofmostindustrialisednations. Butasfarthereisnoexactdistinctionbetweengoodsandservices. CharacteristicsofServices: ThemaincharacteristicsofservicesareIntangibility,Inseparability,Heterogeneity,Perishability. Intangibilityreferstotheaspectsnotassociatedwithanyphysicalformorcharacteristics.Itisvery muchpronouncedinthepureserviceelementlikethelecturegivenbyaProfessor. Inseparabilityreferstothefactthatproductionandconsumptionoftheservicesareinextricably intertwined. HeterogeneityorVariabilityisaresultofthefactthatServicesareusuallydeliveredbyHumanbeings, whoseperformanceisnecessarilyvariable;qualitycontrolisextremelydifficult.Itmakesitdifficultto standardizetheoutputofcertainservices. Perishabilitymeansthattheservice"units"cannotbestopped.Ifaseatisunfilledwhenaplane leavesortheplaystartsitcannotbestoredandsoldonnextdayornextweek.Therevenueislost forever.
PRACTICEQUESTIONS1 1.Whichofthefollowingisnotcorrectwithregardtomarketing? a.MarketingisaManagementFunction b.MarketingisaPhilosophy c.MarketingisnotrelatedtoBusinessActivityalone. d.Marketingmeansselling. 2.WhichofthefollowingisapartofMarketingManagement? 3.IfSurfExcelisthreepacksizesandtwotypesofpackageswhatisthe productdepth? a.Two b.Three c.Six d.Eight e.Nine a.IdentificationofBusinessOpportunities b.UnderstandingtheCustomerneeds c.Producingaccordingtocustomerneeds d.DeliveringasperCustomerconvenience e.Alltheabove e.ObjectiveofMarketingistoachievecustomersatisfaction.
4.Forpromotionunder4Pwhichaspectisnottakenintoaccount? a.Advertisement b.SalesPromotion

5.In4Pmodelformarketing,theplacerelatestowhichaspect? 6.Whatamongthefollowingisthefeatureofexperiencedgoods? 7.ABrandnameis? a.ASymboloradesignforthepurposeofidentification. 8.RuralMarketsare b.Itslegalversionistrademark c.Itisgivenlegalprotection. d.Alltheabove. e.Noneoftheabove. a.Theseareintangible b.Thesecannotbepackaged c.Thesecannotbetouched d.Thesecanbeevaluatedonlyafteruse e.Alltheabove a.Distribution b.Production c.Transportation d.A&C e.B&C c.SalesForce d.PublicRelations e.Noneoftheabove
9.Whenverylittleisknownabouttheproblembeingexamined,whichtypeof marketingresearchisdone? 10.Itisdifficulttomeasurethemoraleofthesalesteamdirectlybecause 11.Whichamongthefollowingis/areuser/usersoftheoutcomeofthe MarketingResearch a)Consumersb)BusinessFirmsc)Governmentd)Producers a.Onlyb b.Onlya&b

a.Homogeneous b.Heterogeneous c.Organized d.Unorganized e.Noneofthese
a.ExploratoryResearch b.DescriptiveResearch c.CasualResearch d.PredictiveResearch e.Noneofthese
a.Itisatangiblestate b.Itisanintangiblestate c.Employeeshidethetruth d.Alltheabove e.Noneofthese
12.InBankingServicesMarketcanbesegmentedonthebasisof 13.Salestargetsarefixedonthebasisof 14.WhichamongthefollowingisanexampleofSecondaryMedia 15.EmotionalandRationalbuyingmotivescanbedifferentiatedonthebasis of a.Television b.Radio c.Hoardings d.NewsPapers e.Noneofthese a.Pastexperience b.Timeperiod c.Brandpositionary d.Alltheabove e.Noneofthese a.Density b.Customers c.Botha&b d.Neithera&b e.Noneofthese c.a,b,&d d.Alltheabove e.Noneofthese
16.Marketingimplies"Meetingneeds_____________"(Ans:Profitably) 17.Thefollowingdoesnotrepresentamarketsituation. 18.Themarketsaregroupedintodifferenttypesbasedonthegeographical area,locationofmarketplace,product,natureoftransactionandvolumeof transaction.Intheabovestatementthefollowingisnotcorrect? a.Natureoftransaction. 19.Theactofobtainingadesiredobjectfromsomeonebyofferingsomething inreturniscalled

a.Timeinpurchasing b.Dominance c.NatureofProduct d.Alltheabove e.Noneofthese
a.Abankrundispensaryinitsstaffquarters b.AfundrisingCharityShowforthemembersofanNGO c.AMeditationCampofareligiousOrganizationconductedforits members d.AstalldistributingTirumalaprasadaminamandir
b.Geographicalarea c.LocationofMarketplace d.Volumeoftransaction
20.Serviceshavespecialcharacteristicsnamely______whichaffecttheir Marketingprocess 21.Justintimetechniqueiswideracceptanceworldover.Thetechniquewas firstintroducedin 22.Consumerdayiscelebratedon___________(Ans:March15th) 23.Inonlinemarketing,thereis a.Noexchange b.Exchangeisthecoreofmarketing

a.Transaction b.Exchange c.Relationship d.Value
a.Intangibility b.Inseparability c.Heterogeneity d.Perishability e.Alltheabove
a.India b.Indonesia c.Japan d.America e.Noneofthese
24.Whichamongthefollowingis/arecharacteristicsofcommonmarket? 25.IncaseofDiamond,ifthepricegoesupslightly,demandwillfallbya muchlargermargin.Thedemandis 26.Inmoderntimes________isdefinedasthe5thPofMarketing a.Policy b.Period c.Perception d.Packaging e.Noneofthese a.Zeroelastic. b.Highlypriceelastic. c.Incomeelastic. d.Lowpriceelastic. e.Noneofthese a.Acommonexternaltradepolicyexist b.Therearenotradebarriersamongmembers c.Createsmobilityoffactorsofproduction d.Allofthese. c.Guarantee d.OnlyWarrantee e.Noneofthese
27.Advertisingcreatesconsumersdemandforproductsthattheywould otherwisenotfeelaneedtobuy.Thisstatementis 28.TheStrategyusedtochargedifferentpricesforthesameproductiscalled 29.ThenatureofInternetcommercecanbestbedescribedas 30.ThelawofPull&PushofWebMarketingrefersto a.Pullpeopletoyoursite,thenpushqualityinformationtothem. b.Pullpeopletoyoursiteandforcethemtopurchase c.Pushpeopleintoyourbusiness

a.Partiallytrue b.Absolutelytrue c.Partiallybiased d.Anyoneoftheabove e.Noneoftheabove
a.Pricediscrimination b.PriceRevision c.Tariffs d.Restrictions e.Noneofthese
a.Tangible b.Nonterritorial c.Territorial d.Botha&b e.Noneofthese
31.Whatisthefirstthingaboutanadvertisementthatattractsyourattention? 32.MCommerceisanewterminlatestmarketingtechnique.Itis______ 33.Ifthemarketshareofacompanyisincreasing a.Itisasignofprogress b.Thecompanymusttaketheactiontoarrestthetrend c.Botha&b. d.Neitheranorb e.Noneofthese a.MisuseofMobilephones&ECommerce b.MobilePhonesinMarketing c.MarketingbyCommerceStudents d.MegaCommercialactivities e.Noneofthese a.Product b.Music c.Model d.Specialeffects e.Noneofthese d.Pulltheinterestofpeople e.Noneofthese
34.Inmoderndayssalesapproachisbasedon 35.WhatdoyoumeanbyDelphiTechniqueinMarketResearch? 36.IntheAIDAStheoryofselling'D'standsfor 37.Whichcriteriashouldbeadoptedbyamarketerforabrandextension decision? a,Thefit

a.Valuesharing b.Relationbuilding c.Coordinatedapproach d.Alltheabove e.Noneofthese
a.Inthisaquestionnaireisprepared b.DepthInterviewsareconducted c.Informationiselicitedbymeansofdiscussionswithvarious expertsinthefield d.Alltheabove e.Noneofthese
a.Determinants b.Demand c.Desire d.Development e.Noneofthese
38.Thequantityforwhichordersareplacedwhenstockreachesthereorder leveliscalled 39.Intestinganewproduct,concepttestingis 40.NicheMarketingrefersto a.Astrategythatspecialisesinlimitedoruniqueproduct a.Customerreactiontotheideaofproduct b.Salesmanreactiontotheideaofproduct c.Toputtherealproductintoafewselectedmarkets d.Toassessthetotalproductperformance e.Noneofthese a.EOQ b.EPQ c.DOQ d.MOQ e.Noneofthese b.TheValueperception c.Competitiveedge d.Alltheabove e.Noneofthese
category b.AstrategythatspecialisesNicheproducts c.Botha&b d.NeitheraNorb

e.Noneofthese
41.Whichofthefollowingisthebestdefinitionofvalue? a.Atechnicalmeasureofacompany'ssellingpricerelativetoits productioncosts. b.Ameasureofthemarkupchargedbycompanies c.Thelowestpricesavailabletoconsumers d.Thebest 42.WhichofthefollowingisNOTusuallydefinedasanelementofthe marketingmix? a.Products b.People c.Place d.Profits 43.PeterDruckernotedtherelationshipbetweensellingandmarketinginthe followingterms: a.Marketingisasubsidiarycomponentofselling b.Theaimofmarketingistomakesellingsuperfluous c.Theaimofsellingistomakemarketingsuperfluous d.Selling 44.WhichofthefollowingstatementsisNOTtrueabouttheconceptofa customer? a.Acustomerandconsumerarealwaysthesamethingthetermsare completelyinterchangeable b.Customerscanbedescribedasclients c.Acustomerdoesn'tnecessarilyconsumetheproductthattheyhave purchased
d.Students 45.Whichofthefollowingisthebestdefinitionofvalue? a.Atechnicalmeasureofacompany'ssellingpricerelativetoits productioncosts. b.Ameasureofthemarkupchargedbycompanies c.Thelowestpricesavailabletoconsumers d.Thebestratioofbenefitstocostsavailabletobuyers 46.Avaluechaininmarketingis: a.Anoperatorofdiscountsstoreswithmanybranches b.Afactoryoutletstore c.Aprocessbywhichgoodsgainvalueastheypassthroughdifferent levelsofintermediaries d.Aprocessbywhichcompaniestargetvalueconsciouscustomers 47.Ingeneral,concernwiththeecologicalenvironmentismostclosely associatedwitheconomiescharacterizedby: a.Rapideconomicgrowth b.HighlevelsofGDPpercapita c.LowlevelsofGDPpercapita d.Abundantnaturalresources 48.Businessethicsisessentiallyabout: a.Universalcodesofbusinesspractice b.Societalorientatedbehaviourbyfirms c.Aculturallyconditionedagreementonwhatconstitutesrightandwrong d.Honesty
e.Noneofthese 49.Whichofthefollowingisleastlikelytobeassociatedwithafirm'smacro environment? a.Studyofthechangingbirthrate b.Analysisofhouseholdsavingsratios c.Anewstaffincentivescheme dCulturalconvergence e.Noneofthese 50.WhichofthefollowingisNOTpartofanorganization'smicro environment? a.Customers b.Suppliers c.Competitors d.Governmentlegislation e.Noneofthese 51.Whichofthefollowingisanelementofanorganization'sinternal environment? a.Competitors b.Employees c.Wholesalers d.Retailers e.Noneofthese 52.Amethodofcomparingtheinternalcapabilitiesofanorganizationwith thedemandsandchallengesofitsexternalenvironmentisreferredtoas: a.SHOTanalysis b.SWOTanalysis
c.Stakeholderanalysis d.Shareholderanalysis e.Noneofthese 53.Formostpeople,thepurchaseofcheesefordailyusecanbedescribedas a: a.Routinerebuys b.Modifiedrebuy c.Completelynovelpurchase d.Highinvolvementproduct e.Noneofthese 54.Whichofthefollowingstatementsbestdescribestheconceptof involvementinthecontextofbuyerbehavior? a.Thelengthoftimeinvolvedinthebuyingprocess b.Thepotentialimpactofaproductonanindividual'sselfidentity c.Thenumberofpeopleinvolvedinthedecisionmakingunit d.Thecomplexityofanorder e.Noneofthese 55.Buyingdecisionsgenerallyfollowapatternofoverlappingstages.Which ofthefollowingbestdescribesthetypicalstagesofthebuyingprocess? a.Needrecognition>Informationsearch>Evaluation>Decision>Post purchaseevaluation b.Needrecognition>Evaluation>Informationsearch>Decision>Post purchaseevaluation c.Informationsearch>Needrecognition>Evaluation>Decision>Post
purchaseevaluation d.Needrecognition>Informationsearch>Decision>Evaluation>Post purchaseevaluation e.Noneofthese 56.Needsdifferfromwantsbecause: a.Wantsareasocializedmanifestationofunderlyingneeds b.NeedsareasocializedmanifestNeedsarehistorical;wantsareaboutthe futuretationofunderlyingwants c.Needsarehistorical;wantsareaboutthefuture d.Needsandwantsareexactlythesame e.Noneofthese 57.WhichofthefollowinglevelsofMaslow'sHierarchyofNeedsismost likelytobeassociatedwithconsumers'purchaseofgoodswhichappealto theirinnersenseofpeaceofmind(e.g.artclasses)? a.Selfactualization b.Love c.Security d.Physiological e.Noneofthese 58.Anindividualisconsideringbuyinganewmicrowavecookerandisfaced withthepossibilityofseveralmodels.Whichofthefollowingdescribes thewidestrangeofmicrowavecookers,whichthebuyerconsidersinsome form?
a.Thechoiceset b.Theawarenessset c.Thetotalset d.Thepreevaluationset e.Noneofthese 59.AcompanyusesTheCoorstoendorseitsrangeofsnackfoods.This endorsementislikelytobeparticularlyeffectiveiftheCoorsareseenby Largenumbersofthecompany'stargetmarketas: a)Aprimaryreferencegroup. b)Atertiaryreferencegroup. c)Asecondaryreferencegroup. d)Anonreferencegroup. e.Noneofthese 60.WhichofthefollowingconsumerresponsesisLEASTlikelytoovercome cognitivedissonanceexperiencedbyaconsumerwhoisdissatisfiedwith theirpurchase? a)Rationalizingtoourselvesthataproductisactuallyquitegood b)Seeingtheproductinadifferentlightsothatweemphasizethebad aspectsofaproduct c)Seeingtheproductinadifferentlightsothatweemphasizethegood aspectsofaproduct d)Complainingandreturninggoodstothesupplier e.Noneofthese
61.WhichofthefollowinglabelsisNOTassociatedwitharoleinabuying DecisionMakingUnit? a)Supplier b)Gatekeeper c)Decisionmaker d)User e.Noneofthese 62.Asecretarywhoanswerscallsforacompanybuyermaybetakingon whichrolewithinthecompany'sdecisionmakingunit? a)User b)Influencer c)Gatekeeper d)Buyer e.Noneofthese 63.WhichofthefollowingisNOTanelementofaMarketingInformation System? a)Marketingresearch b)Decisionsupportsystem c)Productionmonitoringsystem d)Internalr e.Noneofthese 64.Market______istheprocessofidentifyinggroupsofcustomerswith basicallysimilarwants,needs,preferencesorbuyingbehaviors. a)Development
b)Positioning c)Segmentation d)Targeting e.Noneofthese 65.Marketersuseanumberofdefinitionsofhouseholdincomeintheir segmentationandtargetingactivities.Whatdoesdisposableincomerefer to? a)Theincomethatindividualshaveavailabletospendaftertaxation b)Incomebeforethedeductionoftaxes c)Totalgrossincome d)Incomelesschildbenefitreceipts e.Noneofthese 66.Positioningofaproductisbasedon: a)Thepricechargedfortheproduct. b)Thepromotionalpitchfortheproduct. c)Productcharacteristics. d)Alloftheabove e.Noneofthese 67.Amarketerneedstobeawareofthecriteriabywhichtheeffectivenessof theirsegmentationprocedurescanbeassessed.Whichofthefollowingis NOTacriterionforevaluatingtheresultingmarketsegments? a)Perishability b)Sizeoftheresultingsegment c)Measurability d)Accessibility e.Noneofthese
68.WhatdoestheacronymFMCGreferto? a)Functional,midpriced,orcompulsorygoods b)Famousmanufacturer'sclothinggoods(i.e.designerlabels) c)Fastmovingconsumergoods d)Frequentmarket,consumptiongoods e.Noneofthese 69.Fivestagesintheproductlifecyclecanbeidentified.Whichofthe followingisnotagenerallyacceptedstage? a)Introduction b)Peak c)Growth d)Maturity e.Noneofthese 70.Inabuyingprocessthefirstsageis a.Productawareness b.Needarousal c.Informationsearch d.Purchasedecision e.Noneofthese PRACTICEQUESTIONS2 1. Allmarketingactivitiesthatattempttostimulatequickbuyeractionorimmediatesalesofa productareknownas. a.Sponsorship b.Advertising c.personalselling d.salespromotion
2. Ingeneral,thesinglevoice,orsynergyprinciple,involvesselectingaspecificforabrand. a.positioningstatement b.marketingmix c.pricingstrategy d.advertisingbudget 3. Whichoneofthefollowingisthegreatestobstacletoimplementingintegratedmarketing communications? a.FewprovidersofmarketingcommunicationsserviceshavetheskillstoexecuteIMCprograms. b.ThereisalackofinterestinIMCbytopmanagement. c.ThecostforimplementinganIMCprogramisdifficulttojustify. d.Littlecanbegainedbycoordinatingthevariousmarketingcommunicationselements. 4. Thepremiseunderlyinggeodemographictargetingisthatpeoplewhoalsosharedemographicand lifestylesimilarities. a.areinthesameincomecategory b.resideinsimilarareas c.areofthesameage d.areofthesamegender 5. Adetergentthatadvertiseshowcleanitgetsclothesisappealingtotheconsumerneed. a.Functional b.Symbolic c.Biological d.Utilitarian 6. Bydefinition,simplymeansthatconsumerscomeincontactwiththemarketer'smessage. a.Perception b.Exposure c.Attention d.Comprehension 7. Marketerscanenhancetheconsumers'abilitytoaccessknowledgestructuresby a.usingloudmusic b.usingcolorfulads c.employingverbalframing 8. Spurithynoticesthetelevisioncommercialbecauseoftheloudsounds.Thisisanexampleof. a.exposure b.involuntaryattention c.nonvoluntaryattentiond.voluntaryattention d.repeatingbrandinformation
9. WhichofthefollowingisNOTarequirementforsettingadvertisingobjectives? a.Objectivesmustspecifytheamountofchange. b.Objectivesmustbestatedintermsofprofits. c.Objectivesmustberealistic.
d.Objectivesmustbeinternallyconsistent. 10. An)advertisingobjectiveisaimedatachievingcommunicationoutcomesthatprecedebehavior. a.precise b.planned c.indirect d.direct 11. Aclothingstorethatsetstheiradvertisingbudgetbyfollowingthemajorcompetitorandaddingan additional15percentisusingthemethod. a.percentageofsales b.arbitraryallocation c.objectiveandtask 12. Theadvertisingbudgetprocedureusedmostfrequentlyisthemethod. a.arbitraryallocation b.marginalcostc.competitiveparity d.Noneoftheabove. 13. Whichvalueisderivedfromtheneedforvarietyandachievinganexcitinglife? a.selfdirection b.hedonism c.achievement d.stimulation 14. Marketersaresometimesaccusedofdeceptivepracticesthatleadconsumerstobelievetheywill getmorevaluethantheyactuallydo.______________includespracticessuchasfalsely advertising"factory"or"wholesale"pricesoralargepricereductionfromaphonyhighretailprice. a. Deceptivepromotion b. Deceptivepackaging 15. Thestudyofhumanpopulationsintermsofsize,density,location,age,gender,race,occupation, andotherstatisticsiscalled: a. Geothermy. b. Demography. c. Ethnography. d. Hemospopography. c. Deceptivepricing d. Deceptivecoststructure d.competitiveparity
16. Whencompaniesmakemarketingdecisionsbyconsideringconsumers'wantsandthelongrun interestsofthecompany,consumer,andthegeneralpopulation,theyarepracticingwhichofthe followingprinciples? a. Innovativemarketing b. Consumerorientedmarketing 17. Regulationsthatarisetoensurethatfirmstakeresponsibilityforthesocialcostsoftheirproducts orproductionprocessesstemfromwhichreasonforgovernmentlegislationofbusiness? a. Toprotectcompaniesfromeachother. 18. Oneofthemostcommonproblemswithusinginternaldatabaseinformationisthat: a. sinceitwasprobablycollectedforsomeotherpurpose,itmaybeincompleteorwrong. 19. AllofthefollowingarethoughttobesourcesofnewproductideasEXCEPT: a. internalsources. b. customers. 20. Eachsalespersonisassignedtoanexclusiveareainwhichtosellthecompany'sfulllineofproducts orservicesinwhichtypeofsalesforcestructure? a. Territorialsalesforce. b. Productsalesforce. c. Customersalesforce. d. Hybridsalesforce. c. competitors. d. thelocallibrary. b. itisusuallyexpensivetoretrieve. c. topexecutivesareusuallyunwillingtorelinquishdata,therefore,thedatahaslimits. d. thedataisalmostalwaysunsecuredand,therefore,suspectastoreliability. b. Toprotectconsumersfromunfairbusinesspractices. c. Toprotecttheinterestsofsociety. d. Toprotectbusinessesfromunfairconsumerdemands. c. Valuemarketing d. Societalmarketing
PRACTICEQUESTIONS3 1ThetraditionalMarketingstyleinvolves (c)
aTelemarketingbIndirectmarketingcDirectmarketing 2ModernmethodsofMarketinginclued (e)
aPublicityonthenetbTeleMarketingcBusinessthroughemail.dAdvtontheneteallthe above 3Aleadmeans (a)
aaprospectwhoismorelikelytoavailoftheBank'sProductbcompanycfarmer 4Acallmeans (c)
acallingonfriendsbtotaketelephonecallsccallingonprospectivecustomers. 5Crosssellingmeans (b)
aidentifyingcustomersneedsbmatchingtheproductstocustomersneedscconvincingthe customers 6Innovationmeans (c)
ainspirationbadditionalperquisitescimplementingnewideas/methods 7Atruemarketingmindsetrequires aactivemindset 8Salesforecastinginvolves (d) (a)
bPassivemindsetccontrolledmindset
asalespalnningandpricingbdistributionofchannelscCosumertastesdalltheabove
9Atargetmarketis (c)
aentirecountrybentirecitycthatwhichconsistsofcustomerswhoneedtheidentifiedproduct 10Marketingplanhelpsin (a)
abetterleadgenerationbbettercustomersservicecbettersystems 11Marketinformationmeans (c)
aknowledgeofshopsbkonwledgeofplacescknowledgeofcustomerprofileandproductmix 12Foreffectivemarketing,thesalesmanshouldhavewhichofthesequalities (d)
aCreativitybteamspiritandmotivaitonceffectivecommunicationskillsdalltheabove 13WhichIndianCompanyhasthelargestmarketcapitalization aONGCbReliancecInfosysdSatyam 14Whatmarketphilosophybestexpresseslaissezfaire (c) (b)
aFiscalrestraintbprimingthepumpccaveatemptordsupplyanddemand 15Theconceptthatconsumerswillfavourthoseproductswhichoffermaximumquality performanceandfeaturesandasksforcontinuousproductimporvementis amarketingconceptbproductconceptcproductionconcept 16SalesPromotion (a) (a)
aAmustforcompetitiveadvantagebcompulsarycwasteoftime
17Oligopolyisamarketorganisationinwhichthereare anosellersbfewbuyerscfewsellers 18Inmonopolythereare (b) (c)
aarefewsellersbisonesellercaremanysellers 19"Amonopolistisamarketwithoneseller"isgivenby aPCDooleybAJBraffcLetwitchObserves 20Whichofthefollowingisnotthefactorsofproduction alandblabourccapitaldentrepreneur 21Aleadermaybemanagerbutamanagerneednotbealeader aTruebFalsecNoneoftheabove 22Moneymarketismarketfor (b) (a) (d) (a)
alongtermloansbshortloanscmediumtermloans 23Marketwithonebuyerandoneseller amonopolybbimonopolycbilateral 24Marketingmanagementisaterm______thansalesmanagement awiderbnorrowercequal 25Promotingmixinclueds (a) (a) (a)
aadvertising,publicity,personalsellingandpromotion bphysicalattributes,branchpackageandproductlifecycle
cBrandname,productbenifits,creditdelivery 26Thesystematicgatheringandanalyzingofdataonaparticularmarketingproblemis(c) apromotionalresearchbmarkeinginformationcmarketingresearch 27Apricingstrategyaimedatpayingcurrentorpastduebillsis asurvivalpricingbbrandpricingcstatusquopricing 28Marketingprovidesmaximumsatisfactionof aprofitsbhumanwantscnoneoftheabove 29Moraladvertisingisalsoknownas (a) (b) (a)
aoutdooradvertisingbdirectmailadvertisingcbothaandb 30LICagentisanexampleof (c)
aTwolevelmarketingbThreelevelmarketingcdirectmarketing 31Marketingmanagermaybeclassifiedinthecategoryof (b)
atoplevelmanagementbmiddlelevelmanagementclowerlevlemanagement 32Sellingcostsarefoundunder (b)
amonopolybmonopolysitccompetitioncoligopoly 33Productdifferentiationisanimportantcharactersticof (c)
aperfectmarketbimperfectmarketcmonopolysitccompetition
34Manyfirmsproducinghomogeneousproductscanbegenerallytreatedas aperfectcompetitionbbilateralmonopolycoligopoly 35_____meansgivinganametoaproductsoastodistinguishitfromothers agradingbbrandingcpromotion 36Whocoinedtheexpressionofmarketingmix (b) (b) (a)
aAdamSmithbJamesCullitoncPeterFDrucker 37"WithyoualltheWay"isthesloganof (c)
aBankofIndiabUnionBankofIndiacStateBankofIndia 38Inwhichpromotionisnecessary (c)
aintroductionbgrowthcdecline 39MRPstandsfor (c)
amanagementResourceplanningbMarketingresearchplanning cManufacturingresourceplanning 40Customersatisfyingprocessistheview asellingbmarketingcboth 41"Acolouredorcrookedperceptionofmarketingandshortsightednessabout businessis amarketingmyopiabmarketingmixcproductconcept (a) (b)
42Inanorganisaitonwhichdepartmentplayskeyrole aHRDeptbFinanceDeptcMarketingdept 43Revenuegeneratingdeptinanorganisation amarketingdeptbFiancedeptcnoneofthese 44PLCstandsfor (b) (a) (c)
aProductLifeCyclebProductLaunchingCyclecNoneofthese 45Marketingplanningisconcernedwith (a)
aPlanningsalesforcesizeanddeploymentbPlanningconsignmentsales 46Marketingisanongoingprocess (a)
aPlanningandexecutionofmarketingmixbSellinginthemarket 47Thebestwayofimprovingthebusinessis (a)
awinoverthecustomerbadvertisemntcincreasingtheno.ofproducts 48Oneoftheshortestdefinitionsofmarketingis (c)
aadvertisementbrangeofproductscmeetingneedsprofitably 49Asuccessfulmanageisonewho (d)
amaximisestaffproductivitybbringdownoverheadscmarketdrivenprofitconscious andcustomerobsessedculturedalltheabove 50 Toremainvibrantintheturbulantmarketingfieldoneshouldhavetheabilityof forecasting,emergingcustomerexpectationsandhowbesttheycanbesatisfiedonan
ongoingbasis. 51 Theearlierconceptofcustomers"saveandbuy"graduallyshiftedto"buyandrepay" 52 Themainfocusofsellingisonproduct,whereasinmarketingthefocusisonthebuyer andhisspecificneeds. 53Oneoftheaimsofmarketingistomakeavailabletheproducts (d)
aatrightplacebatrighttimecatrightprice dalltheabove 53 .Everyproductwillpassthroughthelifecycleof abirthbgrowthcsaturationddeclineealltheabove 54Thevariouscomponentsofpromotioninachievingmarketingobjectivesis (e) (e)
aadvertisingbpublicitycsalespromotiondpersonalsellingealltheabove PRACTICEQUESTIONS4 1 Aprospectmeans a)anycustomerwhowalksintothebankb)anemployeeof thebankc)acustomerwhoislikelytobeinterestedin bank'sproductorserviced)adepositorofthebank'e)a borrowerofthebank Aleadmeans a)aprospectwhoismorelikelytoavailoftheBank'sproduct b)apoliticalleaderc)areligiousleaderd)abankchairmane) Noneofthese
3 Innovationmeans a)Compensationb)inspirationc)additionalperquisitesd) implementingnewideasornewmethodse)Noneofthese ACallmeans a)callingonfriendsb)callingonbankemployeesc)callingon prospectivecustomersd)tomaketelephonecallse)calling onrelatives TheTraditionalMarketingstyleinvolves a)Telemarketingb)DigitalMarketingc)IndirectMarketingd) DirectMarketinge)Allofthese ModernMethordofMarketinginclude a)Publicityonthenetb)Advertisementonthenetc) Solicitingbusinessthroughemailsd)Telemarketinge)Allof these Atruemarketingrequires a)Commandandothermindsetb)ControlMindsetc)Passive mindsetd)Activemindsete)Noneofthese Whichofthefollowingsentencesistrue? a)MarketingisnotrequiredinaBuyers'Marketb)Marketing isnotrequiredinaSellers'smarketc)Marketingisnot requiredduetocompetitiond)Marketingisnotrequireddue toliberalizatione)Marketingisnotrequireddueto globalisation
9 Foreffectivemarketingthesalesmenshouldhavewhichof thesequalities? a)Creativityb)Teamspiritc)Motivationd)Effective communicationskillse)Allofthese
10 Marketinformationmeans a)Knowledgeofshopsandbazaarsb)Knowledgeof shoppingmallsc)Knowledgeofcustomerprofileandproduct mixd)knowledgeofvariouslanguagese)Noneofthese
11 MarketResearchisneededfor a)checkingthemarketareab)checkingtherightproductto besoldc)makingpropermarketingdecisionsd)deciding righttimetoselle)Allofthese
12 Whichofthefollowingstatementistrue a)Marketingmakesthecompanytogointolossdueto higherexpensesb)Marketingisnotrequiredinprofitmaking companiesc)Marketingsharpensthemindsofthe employeesd)Marketingisatimeboundseasonalfunctione) Marketingisawasteoftime
13 Marketingplanhelpsin a)betterleadgenerationb)bettersystemsc)betterresults d)improvedbalancesheete)bettercustomerservice
14 IfMarketingisdoneeffectivelywhichofthefollowingisnot required? a)Advertisementb)Publicityc)MarketResearchd)Market Segmentatione)Noneofthese
15 Motivationmeans a)Inspiringemployeestoperformbetterb)Better communicationskillsc)SalesCoachingd)MarketResearche) Noneofthese
16 InaSellingProcessintoday'sworld? a)Onlystandardproductsaresoldb)Nocustomization requiredc)thesellerneednothaveproductknowledged) thesellershouldaimatcustomersatisfactione)only quantumofsalesmatters
17 Findthetruestatement a)Marketingisawasteoftheemployees'stimeb)Marketing isnotrequiredinIndiaduetoitsvastpopulationc) Marketinginvolvesadditionalworkd)Marketinginvolves teamworke)MarketingisnotrequiredtodayduetoIT advancement
18 ATargetmarketis a)entirecountryb)entirecityc)entireglobed)thatwhich consistsofcustomerswhoneedtheidentifiedproducte)all ofthese
19 Salesforecastinginvolves a)SalesPlanningb)SalesPricingc)DistributionChannelsd) Consumertastese)Allofthese

20 Whichofthefollowingproductisbeingsoldunderthebrand nameZODIAC a)Shirtsb)Tiesc)BothAandBd)Libertye)
21 SWIFTcarsarebeingmanufacturedby a)DCMb)Marutic)PremierAutomobilesd)Hyundai
22 Withyouallthewayisthesloganof a)Vodafoneb)SBIc)ICICId)Raymonds
23 Whichcompanyusedtheslogan"ThecompleteMan" a)DCMb)GRASIMc)RAYMONDSd)VIMAL
24 Whichbrandusestheslogan"Madeforeachother"forits cigarettes? a)Cavendersb)FourSquarec)Red&Whited)Wills
25 CrossSellingmeans a)Identifyingcustomerneedsb)matchingtheproductsto customerneedsc)convincingthecustomersofproduct benefitsd)respondingtoquestionsandobjectionsof customerse)allofthese

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(a)Localmarket;(b)Regionalmarket;(c)national market;(d)World/globalmarker (a)Cotton/vegetable/teamarket;(b)sharemarket; (c)bullionmarket;(d)capitalmarket;(e)realestate market (a)Cash/spotmarket;(b)futuresmarket

Natureof transaction Volumeof transaction Marketing:

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Environmentalscanning:Economic,social,legalandtechnologicalforces. Marketingresearch:Immediateinformationaboutmarketsandreactionofthesetovarious product,price,distributionandpromotionactions.Marketingmixdecisions.

3. Evaluate the attractiveness of each segment 4. Select the target segments

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More precise definition of customer needs & wants

More Accurate marketing objectives

Improved resource allocation

Better Marketing results

Market Segments & Niches

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Market Segmentation Procedure

Bases For Segmenting Consumer Markets

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4.Forpromotionunder4Pwhichaspectisnottakenintoaccount? a.Advertisement b.SalesPromotion

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9.Whenverylittleisknownabouttheproblembeingexamined,whichtypeof marketingresearchisdone? 10.Itisdifficulttomeasurethemoraleofthesalesteamdirectlybecause 11.Whichamongthefollowingis/areuser/usersoftheoutcomeofthe MarketingResearch a)Consumersb)BusinessFirmsc)Governmentd)Producers a.Onlyb b.Onlya&b

a.Homogeneous b.Heterogeneous c.Organized d.Unorganized e.Noneofthese

a.ExploratoryResearch b.DescriptiveResearch c.CasualResearch d.PredictiveResearch e.Noneofthese

a.Itisatangiblestate b.Itisanintangiblestate c.Employeeshidethetruth d.Alltheabove e.Noneofthese

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a.Timeinpurchasing b.Dominance c.NatureofProduct d.Alltheabove e.Noneofthese

a.Abankrundispensaryinitsstaffquarters b.AfundrisingCharityShowforthemembersofanNGO c.AMeditationCampofareligiousOrganizationconductedforits members d.AstalldistributingTirumalaprasadaminamandir

b.Geographicalarea c.LocationofMarketplace d.Volumeoftransaction

20.Serviceshavespecialcharacteristicsnamely______whichaffecttheir Marketingprocess 21.Justintimetechniqueiswideracceptanceworldover.Thetechniquewas firstintroducedin 22.Consumerdayiscelebratedon___________(Ans:March15th) 23.Inonlinemarketing,thereis a.Noexchange b.Exchangeisthecoreofmarketing

a.Transaction b.Exchange c.Relationship d.Value

a.Intangibility b.Inseparability c.Heterogeneity d.Perishability e.Alltheabove

a.India b.Indonesia c.Japan d.America e.Noneofthese

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a.Partiallytrue b.Absolutelytrue c.Partiallybiased d.Anyoneoftheabove e.Noneoftheabove

a.Pricediscrimination b.PriceRevision c.Tariffs d.Restrictions e.Noneofthese

a.Tangible b.Nonterritorial c.Territorial d.Botha&b e.Noneofthese

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34.Inmoderndayssalesapproachisbasedon 35.WhatdoyoumeanbyDelphiTechniqueinMarketResearch? 36.IntheAIDAStheoryofselling'D'standsfor 37.Whichcriteriashouldbeadoptedbyamarketerforabrandextension decision? a,Thefit

20.Serviceshavespecialcharacteristicsnamelywhichaffecttheir Marketingprocess 21.Justintimetechniqueiswideracceptanceworldover.Thetechniquewas firstintroducedin 22.Consumerdayiscelebratedon_____(Ans:March15th) 23.Inonlinemarketing,thereis a.Noexchange b.Exchangeisthecoreofmarketing