IBPS SO Marketing 2021-

5 Important Professional Knowledge

Questions
Ramandeep Singh
Ques.1: The quadrant in BCG Matrix showing products in high growth markets with high
market share is

a. Stars
b. Questions Marks
c. Cash Cows
d. Dogs
e. None of these
Answer: (a)

Explanation:
Ques.2: Likert scale has _________

a. Open-end question
b. Closed-end question
c. Depends on questionnaire
d. None of the above
e. All of above
Answer: (b)
Explanation:
Likert scale has close-ended questions. These closed ended questions, typically are 5 pointers or
above scale questions where the respondent is required to complete the questionnaire that
needs them to indicate the extent to which they agree or disagree.
Ques.3: _________________ is the unique product benefit that the competition cannot be
claim.

a. Unique selling proposition

b. Unique sales preposition
c. Unique selling price
d. Unique strategy promotion
e. Unique selling product
Answer: (a) Unique selling proposition

Explanation:
A unique selling proposition (USP) refers to the unique benefit exhibited by a company, service,
product or brand that enables it to stand out from competitors. The unique selling proposition
must be a feature that highlights product benefits that are meaningful to consumers. A unique
selling proposition, more commonly referred to as a USP, is the one thing that makes your
business better than the competition. It’s a specific benefit that makes your business stand out
when compared to other businesses in your market.
Ques.4: In Maslow’s hierarchy of needs, recognition and status falls under

a. Esteem needs
b. Self-actualization needs
c. Social needs
d. Psychological needs
e. None of the above
Answer: (a) Esteem needs

Explanation:
Ques.5: A statement of the organization’s purpose is called:

a. Brand Promise
b. Mission Statement
c. Vision Statement
d. Customer Value Proposition
e. None of these
Answer: (b)
Explanation:
• Brand Promise- A brand promise is a value or experience a company’s customers can expect to
receive every single time they interact with that company. The more a company can deliver on that
promise, the stronger the brand value in the mind of customers and employees.
• Mission Statement- A mission statement is a statement of the organization’s purpose- what it
wants to accomplish in the larger environment. A mission statement is a short statement of why an
organization exists, what its overall goal is, identifying the goal of its operations: what kind of
product or service it provides, its primary customers or market, and its geographical region of
operation.
• Vision Statement- A vision statement is an inspirational statement of an idealistic emotional future
of a company or group. Vision describes the basic human emotion that a founder intends to be
experienced by the people the organization interacts with, it grounds the group so it can actualize
some existential impact on the world.
• Customer Value Proposition- A customer value proposition is a business or marketing statement
that describes why a customer should buy a product or use a service. It is specifically targeted
towards potential customers rather than other constituent groups such as employees, partners or
suppliers.