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    Bosaicad More Books From pseu for | BI (BANK PO & CLERK) Other Exams: Introduction to Marketing ‘Markeringis about identifying and meeting human and so, process of communicating the value of a product or servic selling that product or service. Marketing is a societal “p individuals and groups obrain whae they need and wan offering and freely exchanging products and se “Markangisthe ‘Nature of Marketing Soelal Sracessiby sah + Marketing is a human activity? Seer T | Malexingis «soda Customer Needs = Integrated Marketing + Profitabilicy Steps of Marketing Steps of marketing are as fllows (3) Determination of Organisational Objective These objectives provide direction for all phases of the organisation and serve as standards in evaluating performance. G t Download More Books From : Job-Adda.in Introduction t Marketing lu Assessing Organisational Resources By Jraluating these resources, organisations <2" pinpoint their strengths and weaknesses Sirengehs help organisations set objectives, develop plans for mecting objectives and rake ‘advantage of marketing opportunities. (ii) Evaluating Risks and Opportunities Environmental factors—competitive, political, legal, economic, technological and social-also influence marketing opportunities. The emergence of new technologies oF fanowttions may open new opportunities for under-marketed products. (js) Marketing Strategy The marketing strategy isthe overall company progeam for clocring particular target market and then satisfying consumers in that segment. (v) Implementing and Monitoring Marketing Plans At every step of the marketing planning process, marketing managers use feedback to monitor and adapt strategies when actual performance fails to match expectations. Types of Marketing There are two types of marketing (i) Marketing to Individuals It is 2 ‘consumer goods, Peaducts which are pu by the ultimate consumers for satis personal needs and desires are consumer goods. @f. 600 ediable oil, textiles,‘ Consumer goods (@) Con; Consumer goods ently, immediately and 1 time efforts ate referred to as nce goods like pen, biscuits, rapers, medicines, etc. (8) Shopping Goods Shopping goods are those consumer goods, in the purchase of which buyers devote considerable time to compare the quality, price, style, suitability at different stores before making final purchase. ag, radio, refrigerator, television, cloth, etc. with 3 «) Speciality Goods People make special © Fons e purchase the serve ‘of speciality fe. eg. restaurant, tailor ef. “a ions = ‘Organisations It is also called iastrial geads, Industrial goods are goods Sihich are used as inputs in producing other products, The examples of such products af Pio material, engines, lubricants, fabricating material, installation, operating suppliers ete: Functions of Marketing The functions of marketing and have been dis below Marketing Research : Ie is a proces of collection 2nd halysing eds and information regarding custo buying habits, nature prices effectiveness of oduct. ing and Assembling Te refers t0 buying and collection of required goods for resile, It is primarily relevant wo those business organisations who are engaged in trading activities. Packaging and Labelling, Icinvolves putting the goods in attractive packers, containers according to the convenience of consumers. As suitable and attractive packages increase the demand for the products to a great extent. Labelling means putting identification marks on the package. It contains information about the producer of the product. Standardisation and Grading Standardisation helps in promoting the sale of the product by increasing consumer's confidence in the product quality. Grading involves separating 4 Download More Books From : Job-AWtirideting Aptituds products into different classes on the basis of certain predetermined standards relaved 10 size and quality. Branding Ic refers to giving an attractive name, symbol or identity mark to the product to make it different from other products. Pricing It involves decisions regarding fixacion of product prices. Pricing is done keeping in view the product costs, che capacity of customers (0 pay and the prices of the comperitive products Transportation “Transportation means carrying goods from one place to another. It helps in’ assembling and dispersing the goods. It links rogecher the producers and consumers who are located at Aiffesens places Promotion Promotion means all the activities perfor by a producer or by a dealer or businessman 0 increase his sales. rp: of promotion acitivities is t id pursuade the consumers to bul cular product. ? Role of M: Roles of market’ lows Role of ing in Business fed fal changes are taking place at * Competition has become intense in the arket. * Consumer tastes and preferences are changing very fast. + Production is organised on a large-scale. Role of Marketing in Society + It makes new and better products available to people, increasing their standard of living. «+ Te helps in creation of new jobs + Importance of marketing, Importance of Marketing Importance of marketing can be divcssed as folloyy (A Importance of Marketing to the Consumer, + Provides different information sbout the product and services. + Helps to know the different benefits ang techniques of products. » Provides satisfaction by providing different products to meet their demand and tastes when they need, + Facilitates customers to sel + Easily distribute + Suggests to mana; wiee hou lb delive transportation and 's which help the firm to juct. “Bio luable information to make lan for fuwure and right decision. sts tO reduce unnecessary costs and lise the revenue in proper way. % Accumulates the opinion and ideas of different castomers and supplies to the management. (iti) Importance of Marketing to the Society + An important source for the creation of employment opporcunities. + Helps in developing the living standard. + Helps to utilise the different resources such as natural, financial, physical and human resources. i Tit-Bits 9) = Finance is lke blood of business. = Marketing is successful when salesmen are effectively trained, # In marketing. it is necessary to identify potential sellers potential products and services. potemtiat Customers and key existing + Markoting strategy means ways to improve marketing activities. ~ = Markeling iS definitely required when supply exceeds demand a = Cross selling means selling other products to “exsting customers. Download More Books From : Job-Adda.in Check Your Skills 1. The aim of successful marketing is (1) to ineresse the sale (2) o increase the profit (3) to increase the output of sollers (4) Ail of the above (5) None of the’ above Which among the following come under ‘facilitating’ category of marketing functions? (1) Standardising and grading (2) Standardising and grading, financing and risk taking. (3) Standardising and geading, financing risk taking, securing market information (4) All of the above (5) None of the above 3. Which among the following is the most basic concept underlying marketing? (4) Product (2) Market (3) Needs, wants and demands (4) All of the above (5) None of the above 4. The need or want for a particular prodi becomes a demand, when (1) the product/service is ari (2)it is backed by buying power (3) a product represents that pactict (4) All of the above (5) None of the aboye 5. Which among th called like blood ‘marketing decisions? (2) Promotion decision (2) Project cost decision (3) Finance decision (4) All of the above (5) None of the above among the following is included in 7 Which among the following is a customer oriented concept? (1) Sling, concept 2) Marketing concept ry Production concept (4) All of these (5) None of these 8. Social marketing concept is based upon. (1) large target market with active (2) customer satistaction and custo (3) realisation of maxi service of society (4) All of the above (5) None of the above 9. Which among the following may be called a pillar of mar cept? the true statement. (1) Marketing is a waste of the employee's sine (2) Marketing is not required in India due to its vast population: (3) Marketing involves additional work (4) Marketing involves team work (5) Marketing is not required today due to YT advancement 1. Marlet information means (1) knowledge of shops and bazaars (2) knowledge of shopping malls (3) knowledge of customer prof! wi product mix (4) knowledge of various languages (5) None of the above 12. If marketing is done effectively which of the following is not required? . (1) Advertisement (2) Publicity (3) Market research (4) Market segmentation (5) None of the above ad More Books From : : 20. Marketing stress is on needs of the "49, Profit by customer satisfaction isa tool of aiesing tree on He need Of 1 ed cep of alt east af matin (y mac — (spect (8) None of the above ie Nong of the above 14, Nature of marketing involves a Marketing research votes is a ise Cia dsebution channel (yc of i 3 cher mle rv : favorites : (Saath eo sumer (8 Rane a be eho tee ; Biter the above ae ao. no te allowing se the (2) supply exceeds demand concepts? i a ore eeeliely trained age ag : Gf) All of the sbove (2) Production concept g (8 one he above eee 16. Marketing is best defined as (4) Sales concept (1) facilitating satisfying exchange (5) All of the abov, @ relationships 23, Which of is/are function of (2) distribution of products at lower price to marketing? cl the stores a) (3) distribution of products at higher price to @), aning the stores: (3 ‘and assembling (4) promoting, the produets ing and packaging (5) relling the products Wof the above 117, The marketing concept isa way of thinking or a oe of the following is the function of management philosophy that affects, promotional activities? (1) only marketing activities (1) To motivate the customer to buy the — (2) only the efforts of sales persom product (3) most efforts of the organisa (2) To sell the goods to the customers (4) only customer relatio (3) To fix the price of the product GG) Note of the (4) To store the unsold goods (5) To produce more goods. 25, Marketing involves earning profit through ‘maximisation of 1 ; (1) sales 0 job opportunities (2) production (5A che above (3) expansion 19. Be concept of marketi (4) customer's satisfaction aasrtae : es ‘eting takes (5) None of the above i) sale, bases 26. Selling involves earning profit through customer, consumer ‘maximisation of consumer, bi (bayer pieces (aya (a) eae (3) marketing G) production (5) None of the above (5) None of these Yep Introducbo wMeadihgore Books From : Job-Adda.in 27. In marketing, che consumer isking, whereas in selling .. is king. /1) product 5) None of the above 28. Which of the following is/are objective of marketing? (1 Satistying customers (2) Increasing denvnd (3) Creating yoodwill for the organisation (4 Providing better quality products (5) All of th 29. Understand marketing as (2) only selling (2) meeting, bly above human and social needs on customer (4) 60 focus only on producing (5) Botiy 2! aad °3 30. Marketing is (1) consumer oriented 2) competitors oriented (3) producer oriented (4) Both ‘1° and 2° (5) Both °2' and 3° 31, Proper marketing requires (1) planning (2) sympathy (3) Knowledge of products (4) Both +1’ and °° (5) Both V au “3 32. In marketing, it is nece: {SBI Clerk 2008), [S81 ? identify 181 Clerk 2008) (1) potentiat (2) potest and services ing and potential custon ind 2 he above 33. Marketing is influenced by (1) product demand (2) public taste (3) buy G4) brand image (5) All of the above behaviour rapes ($82 Clerk 20095 7 34. The sale aim of marketing is to {S81 Clerk 2010) (2) increase salen (2)iycrease the number of employees (3) inereases profits 4) increases production (9) All of the above 35. The ultimate aim of marketing is to provide [801 Clerk 2019} (1) more business to the company (2) more profit (3) more staff () more production (5) mote products process includes [SBI Clerk 20111 (2) lead generation (2) cross country contacts (4) product designing (3) product redesigning 37. Marketing strategy means (1) idea for further incor ‘keting activities Production [SBI Clerk 2011], k office staff ‘management (4) marketing and research team (5) loan section 39. Marketing has taken a prominent position uring the last decade due to {SB1 Clerk 2012} (1) increased competition (2) better literacy rate (3) foreign compulsions (4) government instructions (5) Reserve Bank of India Policy guidelines 40. Marketing is definitely required when (1) dearand exeseds supply {61 Clerk 2012) (2) supply exceeds demand (3) supply equals demand (4) staff is in excess (5) there is no monopuly 41. The traditional marketing style involves (1) door-to-door campaigns (2) sending E-mails (9) telemarketing (4) SMS campaigns (9) sictual marketing (4) improve the balance sheet figures: (4) opening new brooches 8 ung conpaty (2) increase recruitment (Q) selling products and services of company oH serene esi (9) mergers —— (5) increase branch network 43. sate ig! st °° 46, ‘Cross selling’ means {S81 Clerk (2) canes mst (1) selling to enemies (2) selling new prod (6) offering discounts (3) reversal of a sale (a) sub nction of marketing Boot saee es ool (5) nothing to do with marketing 44, Marketing isthe function of {SBt Clerk 2012] 47, Marketing opportunities means (1) availability of sales persons (G) only sales persons (1) avail (2) only counter staff (2) availability of data (3) only qualified persons (3) new product launchi (4) top bosses (y) scope for market (5) a collective function ofall staff (9) evaluation of per 8 9. 1) 10. @ 18 (2) 19. (1) 20. @ 28. (5) 29. (5) 30. (4) 38.) 98. (1) 40. © Analyse Yourself 1@ 20 39 42 5 @ 4.8 22 3A 144) 1. @ 2.6) 22.6) 2 6) 24. (1) 25. a) 31. (5) 32. (5) 33. 6) 34. (5) 85. 41, (1) 42. (4) 43. (4) 44. (0) 45. ? o” Download More Books From : Job-Adda.in % | Marketing Environment Marketing environment refers to the factors and fors ability to build and maintain successful relationship wid the@are uncontrollable. Some of the factors are controllable, while sor e. ’ Ie is the responsibility of the marketing m: change the company's ' policies along with the changing enyiro { “A company's marketing Nature of Marketing ment ‘a faaure ond fore,» Changes a per envigofimes mmunication outside marketingthat | Challenges + Wide market affect marketing oe management's abilityto Charactenisti build and maintain + Mark successful relationship to mal with target customers.” «es limi Marketing Environment: ent plays a vital role while raking decisions related fe some non-controllable variables included in marketing Philip Kotler . se ronment which effect the potentiality of a company and provide ~ Re: direction to the market. New opportunities and risks always rise in the marketing environment which reinforces marketing experiments and research. Oo * Consumers are divided in homogeneous sections for marketing of a product on the basis of marketing environment. Components of Marketing Environment There are following components of marketing environment Internal Environment Forces and actions inside the firm that affect the marketing operation composed of internal stakeholders and the other functional areas within the business organisation are known as incernal environment of marketing. ‘imsernal environment includes The human resource department The operations department + The accounting and finance depanimene + The research and development depart External Environment The extemal environment s composed of 1. Micro environment 2. Macro environment ie, Both these types of marketing environment affect ‘ach other to some extent. 1. Micro Environment The micro environment refers to the forces that: close tthe company and affect its ability to serve its customers. It includes the company itself, its suppliers, marketing intermediaries, customer markets and public. Faitors affecting micro environment are ; (@Company The company aspect of ‘micro environment refers to the internal environmet of the company. This includes all departmet like management, finance, research development, purchasing operations accounting. Each of these depar impact on marketing decisions () Marketing Intermediaries intermediaries refers tor physical distribution arketing services agencies and fina i (é#) Customers rent type of customer markers ji ier markets, business marke lent markets, intcmational m ler markers. It is different from Jer market. The reseller marker includes tat Purchases goods for resell which roi. (ia) Pablic The final aspece js public. They may be financial media public, government public, vevion public, local public, genet busi citizen Public. More Books From : Job-Adda. Marketing Macro Environment oe macro environment refers to all. fo are part of the larger sociery and a micro environment. It includes concep mography, economy, natura cane politics and culture, Factors affecting macro environment are ( Demographic Environment Demography, data help in preparing geographies marketing plans, ‘houshold“mathtg plans, age and sexwise plans. It influ behaviour of consumers. whi will have direct impact on A marketer mustgtori consumers, anticip: to complaints and m: operates properly ang (i Secial-C witonment It indudg ns, beliefs, values and lif ople. ') Economic Environment The economie environment depends on cusrent income Prices, savings, debt and credit availabily inflation rate, tax rates, etc. (Ce) Polcical Legal Environment The politiel and legal environment consists of laws government agencies and pressure group, that influence various organisatiom att individuals, The other laws viz labour laws, corporate laws, constitutional laws, tax "lam, Pollution control act, industrial policy also have a great impact on markers! (0) Technological Environment It include technology selection, change in technology, and governments approach in respect of technology, Major new technologies stimulate the economy's growth rate Ree = Marketing Environment (vi) Natural Environment It involves the natural resources that arc needed as inputs by marketers. In India, many NGOs have continuously fought against indiscriminate mining, use of harmful _ pesticides, deforestation, introduction of genetically modified foods, pollution of rivers and underground water. Uncontrollable factors. of marketing environment are policy of the firm. ‘organisational structure, indirect environment. PEST Analysis PEST analysis describes 2 framework of macro environmental factors used in the environmental scanning component of strategic ‘management. P — Political factors E— Economic factors S —Socio-Cultural factors T— Technological factors Ic is a pare of the external analysis, conducting a strategic analysis or doit research. It is useful strategic understanding market growth o business position, potential and dir operations. SWOT Anal; The method of alysis is to take the informatio environmental analysis and sepafate ic ineéiintcmal issues (strengths and weal external issues (opportunities and threat: 11 Iris the characteristic of the business or project that give ican advantage over others. Weakness Ic is the characteristic that place the business or project at a disadvantage relative to others. Opportunities - Icis an element that the project could exploit to its advantage. Threats g Te is an clement in the em that could cause trouble for the busigiess or project. BBic, straightforward organisation can and ential opportunities and. Specifically, SWOT is, a model thar assess In the barking environment, staff isthe internal factor and consumer is the external factor. * Occupation is an element of demographic ‘environment. * Labour policy is not a direct factor of the marketing environment. "Good compeiition helps in imporoved customer service = Marketing marketing * Market space means scope available for selling + Market information means knowledge of related markets. opportunities mean scope for LWhich is the component of marketing environment? (2) Legal environs (2) Political env : (3) Social and cultaral environment (4) Allof the above (3) None of the above 2. Nature of marketing environment includes J per environment, fon (3) challenge (5) All of these (4) wide market 3. In the banking environment, which among the following is the internal factor? _ (2) Staff (4) Marke (4) All of these (3) Marke (6) None of these 44. Consumer of a bank comes under which of the following environment? (1) External environment (2) interval environment (3) Indirect environment G4) Allof the above (3) Nove of the above 5 Which among the following isn controllable factor of marketing efivironm: (2) Policy of the frm (2) Orgenisational structure (3) Indivect environment (4) All of the above (5) None of the at 6. Which of isnot the part of macro environment (1) Dewudipii® (2) Political (4) Suppliers (9) G (aga ich of the following represents the most "tant reason why firms monitor their \ographic environment? (1) To explain historical trends (2) To predict political change (3) To predict the size of market segments (4) To predict business cycles () Allof the above More Books From : Job-Adda.in Check Your Skills Which of the following is not a part 7 organisation's micro environment? (4) Customers (2) Suppliers mpeitors ( oneramonttgiatin (5) All of the above 49, Political environment of marketing includes foreign policy - erste wallare and socal (9) domecracy (G) Ml of the above (B) None of the zboW®, 10. Occupation is an el (1) demographic ent (2) socio-cultsal éavironment (9) «oor ‘onment All ‘ond @Pthe above f the following is marketing int: ies? (1) Wholesaler (3) Government (5) None of these (2) Advertisement (4) All of these 12. In SWOT analysis, ‘S’ stands for (1) Strengths (2) Strategies (3) Smart card (4) All of these (5) None of these 13. PEST’ analysis related with . (1) miero environment (2) macro enviro (3) Both ‘1’ and ‘2 () All of these (5) None of these 14. In PEST’ analysis, ‘P represents « ) Political (2) Place (3) Promotion All (5) None those Alot thse 15. Micro environment includes (1) market demand (2) consumer (3) competition (4) All of the above (5) None of the above Download More Books From : Job-Adda.in 13 Marketing Environment 16, Macro environment includes (2) economy (4) All of these 17, Element of natural environment is (i) climate (2) soley (4) natural resources (4) All of these (3) None of these 18. The marketing environment consists of (1) micro environment , (2) macro environment, Mey (9) Both “1” and *2 (4) internal environment (9) external environment 19. The elements of demographic environment is/are (1) population (2) age distribution (3) growth rate (4) literacy level (5) All of the above 20. The par of political environment is/are (1) social organisation (2) religious organ ® (3) media (4) form of government (5) All of the above 21. Which of the following constitu socio-cultural environment? (1) Traditions (2) Climatic conditions (3) Government (4) Geographic conditions, ? (6) None of the al 22. Which of the foll of macro em ofa —_ (d iment. : i m (3) environment, 4) eavironment 6 f the above 23. Which of the following constitutes the natural environment? (1) Natural resources (2) Ecology (3) Climate (4) Geographical distribution (5) All of the above vital component 24, Which of the following is tool for auditing an ‘organisation and its environment? (1) SWOT analysis (2) PEST analysis | (3) Forecasti (4) Both “1” and °2 (3) None of these 25. Which of the following is an internal factor? Strengths (2) Threats. (3) Opportunities (4) Alle these (5) None of these 26. The PEST factors include (3) socio-cultural factors (4) technological factors (3) All of the above 22. Which of the following @® of an organisation's micro envi (2) Government legislation (2) Suppliers @ (3) Competitor lowing can be considered to be ‘company’s internal environment? roduetion }) Accounting (4) Marketing intermediaries (5) None of the above 29. For many marketers, political forces can be (1) easily ignore (2) easily influenced (3) easily recognised (4) beyond any control (3) None of the above 30. Micro environment refers to the forces that are close to the ......... and affects its ability to serve its customers. (1) consumers (3) company (5) None of these 31 Which of the following is not a controllable factor of the marketing environment? (1) Firm’s policy (2) Government factor (3) Marketing policy (4) All of the above (5) None of the above (2) marketers (4) environment “32. Which of the following factor is not ee acor of the marketing ‘environment? (2) Labour policy (2) Selling policy (3) Marketing policy (4) All ofthe above (3) Nove of the abowe 33.4 method of comparing the internal capabiliies of an organisation with the demands and challenges of its exzernal ‘environment is feferred tos (1) SHOT analysis (2) SWOT analysis 3) stakebolder analysis (4) shareholder analysis (5) Both 3" and “4 ‘34, Which of the following is anelementof an organisation's intemal envitonment? (1) Competitots (2) Empolvees (3) Wholesalers (4) Retailers (5) Both 2" and ‘3! 35. The Letter T in PEST stands for ats (2) Technological (4) Teacher ( Table (5) Allof the above 36, SWOT analysis does not contain (2) strength (2) weaes ? (3) opportunity (4) talent (5) All of the al 37, Study o 1g Means [BOB PO 2010) sty onomic,-politieal, cultural andWeehnical environment tudy of the company’s markets tentials and competition study of current develo, ping trends (4) study of employee's potential (5) study of sales person's potential Books From : Job-A alysis is the analysis of (BOB it, weaknesses, occupation and thy ‘eesknesses, opportunities 38. SWOT: aon @ mene threats (6) salon weakaesoes,oseupation and threat, (p strenatis, weaknesses, occupation and ten (5) None of the above , 99. Which of the following is least likely w 4 ‘associated with a firm’s macro-environment? ‘Study of the changing birth rate (3) Roaiyss of towsehold savings ation (3) A now staff incentive scheme (j) Cultural convergence (3) Now: of the above 440. Situation analysis is useful for (1) SWOT analysis @ (2) analysis of soles person's (3) analysis of espital markets All of the above aw e (8) None of the al } . 2019, {S81 Clerk 201 Proved customer service ting opportunities mean /1) rope for marketing, (2) proper and effective training (3) market planning (4) availability of sales outlets (5) market data 43, Market space means (1) place where goods are sold (2) trade fairs and melas ‘ road shows (4) scope available for sell (5) competition us 44. Market information means a fronds level of DSAs information about marketis (3) information regarding chareeeeclet (4) knowledge of related markets (5) latest. knowledge about technology progress [SBI Clerk 2012, 08; | PNB Clerk 2010} m8, oy Marketing Environment 445. The internal marketing environment inclades (1) the lnsipan resonvee department (2) the operations department (3) the accounting and finance department (4) the researcfi and development department. (3) Allof the above 46. The objective of social marketing concept is (1) the large market with active target audience (2) realisation of maxinhum profits through service of society . (3) customer satisfaction and weltaze of customer (4) Both °2 and ‘3 (5) None of the above © Analyse Yo 14) 26) 11. (1) 12. (1) 2@ 40) 8H 13. (2) 14, (1) 15. (4) at. (1) 22. (3) 23.) 24. (4) 25. U1) 31. 2) 92. (1) 93. @) 34 2) 35. @) 41. (6) 42. (1) 43. (4) 44. (4) 45. (5) Download More Books From : Job-Adda.in . 15 A7. Marketing strategy means 48. BBao 1) new ideas to true more customers Few methods to retain the stores (2) now ways to contact the new customers (4) now marketing techniques (5) All of the above Which of the followings are included in the ‘business legislation of. the legal environment? (1) Corporate affairs (2) Employee protection (3) Consumer protection (4) Sectoral protection (5) Allof the above g @ @- 7 8) 9. (4) @) 4 @ 19. 6) 20. 6) ®) +) ae.) 29. (4) 90. (9) “) 38. 2) 38. (3) 40. (4) 4) 5) 48. (6) 10. (1) “Marketingmis is the combination of four tlements called 4Ps (product price, promotion asd place), that eoery company has the option of adding, subtracting or modifying in order to create a desired marketing strategy.” Philip Kotler | Re. More Books From : Job-Adda.in lern mai Marketing mix is an important concept in mod to the set of actions or tacti ‘ tiene oe nt ee ee radgaiecas cS ee ee a i cra tions fa 2. Indu cortking tat a hen wale ee er and organisation) Th towards its products or services, | Gbjcctives can be achieved. aoa pro Ps remain the lar classification in terms so | Hikers, Mig APs Gene uterbom proposed a ma [Pepe ert cr-oriented version of the 4Ps, sp | Elements of ting Mix Base The elements, nents of marketing mis: may be grouped broadly Bewe she fallow 1. Produ 2. Price 3. Place 4. Promotion | 4. Dur Du | oak refers to the goods and services offered by the organisation for ale a consumer for a price. In other words, a Product is a bundle of utili aa "sisting of various features and accompanying services 2.Nor Product cam be broadly clasified as follows No nor Based on Use wal Based on use, the product can be clesified as pic 1.Consumer Goods Products that are putchased for ultimate consumers are _knoy Petsonal consumption by the houscholds automobiles and : a comer goods’ Clothing, Hewellery areal examples of conver; goods. jownloa Marketing Mix Based on ronsumer’s buying behaviour, the consumer goods can be further classified as () Convenience Goods Goods which are brought frequently wichout much planning or shopping eftore and are also consumed quick, are called convenience goods. (i Shopping Goods These are the goods which are purchased less frequently and are used very slowly and choice for these products are made considering its suitability, price, style, quality and products of competitor and subsvittten any like clothes, shoes, household appliances. (it Speciality Goods Speciality goods have particularly unique characteristic and brand 5 the identification for which a significant group of Con buyers are willing to put generally special s a efforts to buy them. 8) 2. Industrial Goods “ey These goods are meant for use as inputs in production of other products or provision of ™msy some service and include raw materials, 2% machinery, components and operating ‘ supplies. These are meant for non-person: and commercial use. Based on Durability Based on durability, the products pp ified as 1. Durable Goods Durable goods are pi 2 long period. ‘of such goods are a Gptial frigerator, car, washing machi . 2. Non-! Goods Je goods are products that are normally consumed in one go or last for a few uses. Examples of such products are soap, salt, pickles, sauce, etc. ooKs 7 Based on Tangibility Based on tangibility, she product can be classified as 1 Tangible Goods - “Tangible goods have a physical form, that can be touched and seen eg., groceries, cars, raw materials, machinery, etc: 2. Intangible Goods . Intangible goods refer to services proy Tris the amount charged for a product or service. In other words, price is the consideration in terms of money paid by consumers for the bundle of benefits, he derives by using the product or scrvice. It is the exchange value of goods and services in terms of money. Various factors that have to be kept in mind while fixing the price are demand for a product, cost involved, consumers ability to pay, prices charged by competitors for similar products, government restrictions, etc, Price is the only elementin the marketing mix of a firm that generates revenue. Rest of them generate only cost. Price and volume of sales together decide the revenue of any business. \ a (iv) Government Rules Download More Books 18 From : Job Adda a Aptitagg ‘he various factors affecting the pricing policies and r fa Place decision are |. Internal Factors Inucrnal factors are categorised as ; (A) Organisation Factors ‘The marketing manager's role is to assist the top management in price determination and administer the pricing wi policies laid down by cop management. (12) Marketing Mix Price is one of the important clement of the marketing mix and therefore must be coordinated with the other elements: product, promotion and distribution, (ii Product Differentiation The price of the product also depends upon the various characteristics offered by the product. (ir) Cost of a Product Cost and price of product are closely relared. The mest important factor is the cost of production. In deciding to market a product, a firm should also try to decide what prices are realistic, considering current demand and competition in the market 2. External Factors External factors are categorised ax (9) Product Demand ‘The market product or service has a big impa Since, demand is affected by buyers, their capacity and wi to pay, their preference, etc are &: account while fixing the price pétitors are charging for what possiblities lay ahead ng prices, also effect pricing, and Nature of Buyers The nature four of the consumers and users, for wse ofa particular product or services, pricing, particularly if cheir number ig and Regulations The Iepulatory pressures, anicprce rise and contre] corn ehectvely discourage companies from cornering too large a share of conitolling prices do affect large Goods and services are produced to be sold ¢. the consumers. They must be made availabje to the consumers at a place where they can conveniently make purchase. Place is concern with various methods of transporting ang storing goods and then making available fo, the customer. / Getting the right product, to the right place, x the right time, involves the distributi Making the products a chain of individuals an distributors, wholesaler distribution network. an important ingredient of mix as it refers to a process of ing, persuading and influencing sumer to make choice of the product of the ompany in question. Promorion is done through personal selling, advertising, publicity and sales promotion, Its done mainly with a view to provide information to prospective consumers about the availability, characteristics and uses of a product, * 7Ps of Marketing In case of services, the producer-oriented model of marketing mix consist of 7Ps, Including the above 4Ps, there are additional 3Ps and they are. * People People refers to the employees cf the organisation who comes in contact with necustomers in the process of marketing + Process Process fefers tothe systems and Processes followed within organisation * Physical Evidence it refers to all tangble Visible touch point that the custome” wil Encounter before they buy. elements like uniform of employees, signboards, etc cia a a ~——~—~—Download More Books From : Job-Adda.in Marketing Mix Factors Affecting 2 Marketing Mix Factors affecting mairketing mix are |, Uncontrollable Factors + Consumer's behaviour + Competitor's behaviour « Intermediaries behaviour » Government's behaviour 2. Controllable Factors + Product policy . « Branding policy + Packaging policy « Pricing policy + Promotion policy + Distribution policy + Other factors 4Cs of Marketing 4Csconsumer-oriented model of marketing mix are as follows 1. Consumer In this model, the product j replaced by consumer. Marketers fo more on consumer satisfaction. ? o” . Convenience Place is replaced by cony 19 Cost Price is replaced by cost. Here the cost refers to the total cost of owing a product. It includes cost to use the product, cost to change the product and cost of not choosing the competitor's product Communication Promotion is replaced by communication. Communication includes advertising, public relation, personal selling and ny method that can be used for proper, timely and accurate communication between marketer and consumer. § focuses on case of buying reaching to the store/product getting product information. “ ) oO mpaign is an example of 9 jervice means extra profit on the same °f price sensitive goods, the demand is not sensitive at all oduct mix means various products designed by the company. 1. Which of the following is the element of ‘marketing mix? () Seting (2) Costing (3) Creating (4) Product (2) Allof these 2. Capital goods market deals with (1) nondurable goods (2) goals (3) products G)durable goods (5) Mol these 3. Convenience goods are those which ()consinest easly (2) distributed easily (3) purchase frequently (4) Al ofthese (5) Nowe ofthese Service market is related with (1) tangible (2) intangible (3) Both I" and 2" (4) All of these (9) Nowe of these 5. Personal selling isa part of (1) promotion (2) place (3) i 4) product (5) All of these 6. Which of the following is intangible features a product? (Y) Aker sae services (4) All of the above (1) product (3) place () Promotion G)AM of these 10. G) price mix (2) Performance of product (9) Goodwill of product (5) None of the above, ? 2. First 'P’ of 41 A) promos None of these Ret “dab of (2) product (3) price fomotion —_/5) All of these 9. Distibution is also known as Product (2) place (9) Nowe of these DSA of a bankis a subelement of ' (2) distribu i (Y promotion ni ie (Now of thee AN Of these Oe Books From : Job-Adda. Check Your Skills i ing helps in. fective marketing = ing new products : 2) cresting a competitive environmen (2) Seng denon for products (4) Allo the above (5) None of the above Promotion in marketing means (1) passing an. examination /2) elevation from one grade to DO epee ors y (G)selling the product if (5) None of the above Which among the following be an example of non-profit marketing? ’ (1) Distey a park in Hong Kong : rurvedic massage centre 13. rect 4Ps of marketing are } product, place, promotion, profit (2) product, price, place, promotion (3) pradact, promotion, price, place (4) All of the above (3) None of the above Who among the following is not a part of the marketing mix? (1) Wholesaler (3) Customers (5) None of these . Which of the following is the ing hia ig is the crux of marketing (1) Marketing planni (2) Marketing nix = (3) Marketing research (4) Markot expansion (3) Market, scanning Wich of the following comes under cisions concerning the Products? 4 y Product attributes 2) Branding and packs (9) Produet nig, 8S (4) All of the above (5) None of the above (2) Retailers (4) All of these | ‘ ; Bed MarketinJawnload More Books From : Job-Adda.in 27. in case of prestige goods, the demand is im 2) at pc valve (5) mt pice ensive tl x level 18. A product is referred to as i) All of the above (@) All of the above (5) Nowe of the above (5) None of the above um ju ents, iis 28. Ifyou are a marketing manager of a firm, you 1 reve) ms emaikeesofeingasitis 2B. Ay Ofer he customers who ae (1) present customers (1) leas price sensitive (2) potential customers (2) more price sensitive (3) company (3) depends upon the marketing mix (4) All of the above (4) All of the above (8) None of the above (5) None of the above 7 ng is t 20. Which of the following sare tangible 29. Which among the following is a co product? customer satisfaction’ (1) Howse and TV (2) Car or scooter (1) Fair price (3) Purniture G4) All of these (3) Brand i) None of these (5) None of these 21. Which of the following is consumable item? 30. With .. (1) Cold drink or milk (2) Newspapers (3) Pewol (4) Gas (5) All of these 22, Which of the following is intangible service? (1) Entertainment (2) Unsought product temporary period to (2) by-product (4) market penetration (3) Shopping product direct marketing (2) sales team (4) Speciality product (8) advertisement (4) publie relation (5) All of the above (5) All of the above 23. ..... iS a raw material for a sugar. 32. Marketing mix can be changed due to (1) Mackine (2) Paper (i) law and regulation of government (8) Coa 4) Saga @) economic policies of respective country’s (5) None of these ‘qoverntivat 24, The characteristic includes (3) climate (4) product: mix fee (4) All of the above (8) packeging 14) All of these (5) None of the above (5) Nong of 4 _ | 33. Direct mail includes 25. i ilities consisting of various (1) letter heads fe accompanying services. (2) printed envelops () ig sud development stage (3) folder and catalogues (2 (3) Risk (4) All of the above (4) Plan (5) Product (5) None of the above 26. Planned cost service means 34. 4Ps of marketing means [SB1 Clerk 2008} (1) costly products (2) extra profit un the same cost (3) extra work by seller (4) AML of the above (5) None of the above (1) primary marketing techniques (2) person, place, product and promotion (3) promoting authority (4) parpose, place, passion and product (5) None of the above ooks From: Job-Addain =-\ - — Marketing APtitua, > ‘ - ollowing is not included in the 5 . One of the Folio ot 7h 95, Product mix means 1381 Clerk 2008) 40. Or srketing. Find the same (sa PO 2014, ee (1) product (2) price " (3) pw {) promotion (2) Nine a the above * ieaeecscn AL. The best promotional tool in any marketing is 1) selling variety of proxinets etn fv, the customers pune of proxiuet required by the estan Various product designed by the company (1) pamplilets wllng only oe prt sob aoe pe i oases lintomyie 1) word of mouth publicity ae (4) regional advertisements 37. Thebes promotionaltoolin any marketing i seat awh 1/e-promotion 1881 PO 2010) 42. Who has proposed a fous ube relations marketing mix? #7 Sina uaketing (1) Philip Kotler (2) R WPlauterborn 4) woul uth publicity (3) Alhert Frey (ABN illiany Lazer Jrulvertinenvets (5) None of the 38, One ofthe folowing isnot included in the 4S 43, A companys ix refers to certain ‘of marketing. Find the same, [881 PO 2010] a (2) 1) prostuet 2) pri (3) + 4) consistency 1 pronluction (4) promotion (5) C aes fhewii€rnal factors affecting the pricing 38. Customisation is useful for {$81 PO 20111 ion is/are “ 1 sksicving customer specific products cost of the product é al evutres (2) marketing objectives ! publi lati (3) stage of the product in its lifecyele (4) price elasticity Rave d teat (3) Allo th shove © Analyse LW 24 42 80 6H 2m 9 w a) % 2 10. (2) noe 2 EO Bee ee Se we hoe EP BS we re ag Be Be 5 33.4) 4. 5 35. (5) ) (5) i - 2 43. 6. 4 37. ) 38. (3) 39. (1) 40. (3) Download More Books From : Job-Adda.in ‘ Consumer Behaviour Consumer A consumer is an individual who buys produ and not for manufacture or resale. A consuy people such as a household who are, fin! % s for personal use ¢ 2 person or group of ‘of products or services. Classification of . Nature of Indian “Consumer behaviour Consumers Consumers is the process whereby Consumers are mainly Fnto two + ‘Tendency of bargaining. individuals decide groups + More focus on price than its whether, what, when, aghere, howand from whom to purchase geods and services.”” Individuak, con®imer buys the products Walter & Paul a es for his own and his family or quality + Lack of awareness in the consumer for brand or trademark. + Attraction for changed consumption structures like car, scooter, coloured products or services for anufacturing oF reselling. television, _refrigorator. washing machine, ete. whereas commercial consumer Consumer Behaviour Consumer behaviour is a complex, dynamic, multidimensional process and all marketing decisions are based on the assumption about consumer behaviour. Consumer behaviour is the study of individuals, groups or organisation and the process they use to select, secure and dispose of products, services, experiences as well as ideas to satisfy needs and we find the overall impact of these processes on the consumer as well as on society. = Elements of Consumer Behaviour + Want of consumer + Altitude of consumer + Decision-making in purchase process + Finding out the problems relating to purchase Factors Influencing Consumer Behaviour The factors influencing consumer behaviour are as follows Cultural . . “Traditions + Nationalities « Religions « Racial groups Social | + Reference groups Family + Social class = Caste Personal + Age + Life sryle + Personality + Life cycle sta + Occupation + SelF con + Economic circumstances Psychological * Motivation fot + Atticude ring + Beliefs Some Ter, jated to Con: javiour Ne lemand When consumers dislike a Product'and may even pay to avoid it, it is called ni ‘mand. Impulse Buying A situation in Pruchases are unplanned, buying, puver Resistance Icmeansbuyer' hesitation in buying the product, Buyer resistance can be overcome by cordial relation between buyer and which consumer is called impulse Characteristics of C + Cone + Consumer behaviot 1 reryayisa les een the con « Consumer boty Coneimots ach haviour =... ncumer Bel seine port of human behaviour, urn Deh is influenced by Psychological, er behaviour Pinctrs yo ae : cach ard avery individual while rs always regulated by the ti seller, good negotiation, persuasive communication and good afier sales service. Reference Group It means a group customers. ‘ ‘Target Group It means 2 of people likely : to buy the identified produc ognition A consumer determines an | preference for statisfying his needs, rmination of such order of preference is the rst stage of buying process. A marketer tries to Convey the uses of his products to the consumers through his advertisement programmes, i Information Search Determination of preference order sets the needs of a consumer in an order and the consumer starts to fulfil his needs one by one. He determined the need to be satisfied first ofall ‘Then he tries to identify different alternatives to study his need. Evaluation of Alternatives The Purpose of this step is to evaluate the merits and demerits of all the available alternatives, It helps the consumerin choosing the best Possible alternative. After selecting the best altemative, Proceeds to buy it, Purchase Decision aketnatives, they will purchase and where? These include the cost of prod ee _—S«_- be the consumer can afford to spend, the opinions of ion 2a srs a family or friends and the sales and services of the marketer. Post Purchase Evaluation At this stage, the attempts are made to understand the extent t0 which the buyers feel themselves satisfied with their purchases. Such information is very useful for the marketer. Buying Motives There are different kinds of customers. So, their wants and needs are also different. They buy products or services to satisfy their needs, The causes and factors which stimulate consumer to buy certain goods or services, are called buying motives. Types of Buying Motives Buying motives are basically of two types 1. Product Buying Motives These refer to those influences or factors which motivate a buyer to choose a particular product. They include the physical or paychologi auraction of product, ie, design, shape, si colour, package, etc. Product (9 Emotional Product Buying buyer decides to purchase a pi thinking logically and carefully, emotional product buyit These include » Pride Affection » Comfort « Pleasure + Huhget ist. * Habit duality (4 Rational Product Buying Motives When 2 decides to purchase a product after thinking logically and carefully, this is called rational product buying motives. These include + Safety or security» Saving in cost * Utility or versatility « Durability * Suitability * Convenience More Books From : Job-Adda.in 2. Patronage Buying Motives a ‘These refer to those considerations or reasons which motivate a buyer to purchase the product from a particular shop. Patronage buying motives can also be divided into tuo fypes : (9 Emotional Patronage Buying Motives (ii) Rational Patronage Buying Motives Importance of Consumer Behaviour The importance of the study of consumer behaviour may be explained as under Production Policies Consumer behaviour dis and preferences of coi discovery enables an develop its specificatio ‘essary for an enterprise to touch with the changes in wiour so that necessary changes ‘may be made. Policies usinessman must study the behaviour of his consumers very well before fixing the price of his, product because the consumer behaviour affects price policies of the enterprise to a great extent. Distribution Policies Ir is necessary for the manufactures to assure regular and continuous supply of products in the market. Therefore, all the efforts should be made to distribute the products through channels of distribution most suited to the consumers so that availability of these products at right time and right place may be assured. Sales Promotion Policies The study of consumer behaviour helps the enterprise in knowing the buying motives of consumers. The decisions of the form, colour, packaging and labelling, etc of the products are directly affected by the motives for which the consumer buy the products. Download More Books From : Job-Adda. 26 «Six Questions Related to ‘Consumer Gehaviour = Whe? Who is the consumer? + What? what does the consumer want to buy? + When? When does the consumer want to buy? the + Where? Whore does ‘consumer want to buy? + How? How does the consumer want to buy? + Why? Why does the consumer want to buy? 1. Which of the following statements best describes the concept of involvement in the context of buyer behaviour? (4) The length of time involved in the buying Process (2) The potential impact of a produ individual's self-identity (3) The number of people in decision-making unit (4) The complexity-of an ode (5) All of the above 2. A prospect mez 1 Clerk 2012, 08) (1) any custons Iks into the bank (2) an emplayeo oF the bank (3) acu 10 is likely to be interested ‘in foduct or service depositor of the bark rower of the bank differ from wanes because !) wants are socialised manifestation of underlying needs (2) needs and historical wants are about the future (3) needs and wants (4) All of the above (5) Nowe of the above So nT reece are exactly the same in Marketing 4; +. Bits. J Sf goods which appeal to theirinne, a sare Fee ete Fr cn nk isa firm, @ Corporate box The st caste class. ‘Customer's relationshif of sales persons, ip with the bankis inuencedby atin, isions generally follow a patem of stages. Which of the following best the typical stages of the buying process? | ‘Need recognition > Information search | Evaluation > Decision > Posty purchase in on evaluation (2) Need recognition > Evaluation 5 Information search > Decision > Pox | purchase evaluation (3) Information search ~ Need recognition Evaluation > Decision > Post purchase evaluation 4) All of the above (5) None of the above 5. Target group means (1) all employees (2) short-listed group (3) all the arkeeting staff (4) sales representatives (5) group of people likely to buy the identified Product | 6. Which of the following is the type of consumer? (1) Active personal consumer (2) Personal coustuner (3) Risk taker (4) Allof the above (5) None of the above | {SBI Clerk 2012, 11, 09), c sumeloRnload More Books From : Job-Adda.in ‘on: viour 7. Which of the following is not associated with a role in a buying decision-making unit? (1) Supplier (2) Gatekeeper (3) Decison-maker (4) Buver 15) None of these 1B. Which of the following is buying motives? (1) Rest and recreation : 2) Sociability and striving (3) Pride (4) All of the above (5) None of the above 8. Which is psychological buying motives? (2) Sleeping (2) Hunger (3) Thirst (4) Rest and recreation (5) Allof these 10. In India, who plays a vital olein buying decision? (1) Man with their friends (2) Man with their boss (3) Stat (4) Woman (5) Nove of the above 11. Which of the following is the feature of buying behaviour of Indian consumer? % (1) Changing consumption pattern (2) Trademark consciousness (3) Bargaining (4) All of the above (5) None of the aboye 12. The personal consumer of a bat (1) Mr Shyam (2) a firm (3) a corporate body (4) @ person who is Toans is [SBI Clerk 2012] 14. Which of the following is the nature of consumer behaviour? (1) It is psychological activity (2) It is a physical activity (3) It is buying process decision 4) All of the above (5) None of the above 27 15. The target grouip for home loans is (2) navadals [3H cl 209] (2) salatied persons (3) businessmen. (4) profecioas (8) Aut nse 16. Organisational consumer of the bank is (2) (2) a corporate body (3) an industry or trust or school (4) All of the above é (5) None of the above - 37, The target group fora car loan ie A og43) (1) all bigh income individuals (2) all car dealers (4) all PPL persons 18. Cusfomer’s relationshi influenced by ¥ (1) customers attitudes (2) attitudes of bank sti . (3) tert rt ek () attitude sons (3) Albof t facto of the bank customer includes attitude 5) All of the above }. Reference group includes» (1) market sector (2) satisfied customer (3) producer+ : (4) research and development’s techniques (5) All of the above 21, A situation in which consumer purchases are unplanned is called. {SBI Clerk 2012) (1) latent demand. (2) impulse buying (3) irregular demand a) unwhole some laying. (5) None of these: . : 22. Which is the type of fainily as per purchase” decision-maker? (1) Wife-dominated family (2) Husband-dominated family (3) Syneretic family (4) Autonomic family (5) All of the above 23. Which of the followin; (1) Water (3) Food = (5) None of these the esteem needs? (2) Protection (4) Recofmition Download More Books From : Job-Agg Adina A: 28 4 eans Bi. Beyer esa rk 2012, 08; PNB Clerk 2; 7 24. Aconsumer’s buying behaviour is influence which of the following Factors ~astnal for the product and the seller jr's dislike (y bowers ase actor (2) Social Facet 2) fight in buying the produey 1A paral ior (i) Potebe fctor o inner (6) Allot the i cine buying behaviour includes 32. Whe of a ross? (i reteene pou (ot (3) social class (4) caste i (26. The cultural factors of consumer behaviour (3) een post perros desison consist of (5) All ofthe above Ce (9) aasionaltin 433, Inwhich of thefollowing way, ig (a)teligions (4) racial groups aa or products? Sas (1) By getting rid of 27, The personal factors of consumer befiaviour (A By getting tid of. include (9) By keeping it () ae (2) ite styl (By stor lity, occupation (5) All of (em in to me 28. Which one ofthe following best describes the afi entities involved in it is/are term ‘negative demand’? (Sl Clerk 20121 a (2) gas (1) Consumers begin to buy a product Ie pone (4) All of these | frequently ‘None of these | (2) Consumers do not at all bay 2 prod Tn the model of buying behaviour the marketing {9) Consumers are unaware cruniglerest stimuli include a prodict (2) product (2) price @ Sor ees (9) place (4) promotion basis (5) All of these (5) Consumers dislike a 36. Consumer analysis deals with oven poy te avoid it (1) knowledge level of sales person: | 29. The ps} (2) knowledge level of employees behaviour (2) nature of the buying decision (1) pes (2) attitade (4) conporate objectives a (4) beliefs (5) Both ‘V’ and “2° 5 37, Buyer resistance can be overcome by ich of the following is the safety needs? {SBI Clerk 2012; PNB PO 2010] roteetins iosd () cordial relation between buyer and seller Water (4) Shelter (2) good negotiation °(5) None of these (3) persuasive communication (4) good alter sales, (5) All of the above rvice © Analyse Yourself 41) 28) amy 4 . 6 1.4 2) 13.8) aay 4 6 22 72 8H 2a 08) ae) 22) 23.4) 24.) 25. (5) oa 7.) 18.(4) 49.1) 20.2) 31. O 2 33.6) 304) 386 Sey 9 2816) 28.6) 30.0) Market segmentation 1s the process of dradinga market into dstinat sub-groups of consumers with distinct needs, characteristics oF behaviour.” Philip Kotler Download More Books From : Job-Adda.in Market Segmentation uct is normally made up of nA Cee te anal cromncn tho a Aigginipee of needs and wants. Market segmentation is a marketing strategy when th broad target market into subsets of consumers and priorities and then designing and implemey er divided a ‘common needs cegies to target them. Objectives of Market S tion + To identify the needs, t . buying-motives of the target consumers. + To make grouping of characteristics sut! rs on the basis of their homocenesus ¢ areas where the customers may be created and market be expanded. tance of Market Segmentation rere are the following importance of market segmentation 1, Understand Customers To sell to your customers, you first must understand why they would want to buy your product. Market segmentation allows for the development of profiles of the many different kinds of customer groups who buy your products. It also can be used to develop products for your target audience. 2. Maximize Product Potential During the course of your market segmentation, you may come across an alternate use for your product that had not been previously discussed. You may discover a new market for your product, rk 3. Improve DistributionNetwork By studying the buying behaviors of various target camwomer groups, you can derenmize the way customers prefer to buy your product. i segmentation also helps you to identify geogr arcas where your products are popular. 4. Gain New Clients on A comprehensive market segmentation an be includes reaons why consumers ae not buying yout Products By understanding te reason, you can alter your marketing or change your product development to try to gain new customers. ics of Market Characte Segmentation + The market segments must be measurable so that they can be identified. + Irmust be reachable through commu distribution channels, It should be sufficiently large to justify the resources required to target them. + It must respond differently to the different marketing mixes. + It should be relatively stable to minimise of frequent charges. * Requirement for Succ fet Segmentation There are four criteria which. m suecessfulmarket segmentati market. tion and, met for 1yEamenting your to consider your id specific traits segment needs tobe creating and sustaining a ting mix 'd Measurability You must be able ‘measure the specific segment iPlity You must have access to your Segment with Your specific marketing mix jonsiveness You should consider how your target seament shall respond to your prc marketing mix, What ria ee wl your customers respond fo.and what wil they disregard as unimportant? 2 Substantiality sufficient in customiz ee Causes of Market Segmentation Market segmentation is necesary due ty following reasons 1. Increase in Profit 7 Segmenting a marker will eng Sreinisation to sell same producr diferent sec of customers based on disposeble income. Organisations enhance their profits by raising their pig. for different segments. 2, Popularity in the Ma Through careful targeting, smaller compere with strong incsses are able the marke. @ 3. Bett er Satisfaction E separate solutions for ead a better satisfaction to mers can be achieved. Better Opportunity for Product Sales Growth Market segmentation can build al margin. consumer may be encouraged t sell 2 product. 5. Very Easier Customer-Business Communication Flow Manufacturers of products need 4 advertise and deliver theit message to relevant customer audience. And there isa broad target market, the k Customers will be missed and even thee of communicating to customers will too high. But if the market has bee segmented, the target customers can easily reached more often and at a lowe cost, Download More Books From : Job-Adda.in Market Segmentation 31 Basis of Market 2. Industrial Market mentation + Location Me + Type of business Market segmentation can be classified on the basi: For Frat sfwe groups + Form of consumer iia Mark + Method of purchase |. Consumer Market . Scgmentation of consumer market are Merits of Market Segmentation (Geographic Segmentation + Increase the focus of a firm + Climatic zone + Region ‘Increase in competitiveness + State » Dine + Increase in brand loyalty + Urban/Rural area + Market expansion ; +c retention (ii) Demographic Segmentation . tnerouesf profitability fee, 7 ea + Have better communicatio + Community + Language Demerits of Market entation + Occupation + Income ingens wage + Educational level» Social status uae ae ted «Generation into consideration develop variations of the (ii) Psychological Segmentation + Personality traits + Attitudes + Lifestyle + Value i -k halding costs (iv) Behavioural Segmentation + Brand loyalty + Consumer status : first time, regular, ete. « Readiness to purchase = Prospective customer means a potential customer. Prospects for a bank may bea student. manager of other bark, administrator of — govemment « Usage rate | department + Occasions stimulati luct purchase Target customer means new customer. (v) Segmentation by » Product positioning is the process by which Quality marketers try to create an image of the product y and to create an identity of the product « Pert ~é> = Re-positioning of product involves changing . idontity of the product +S + De-positioning involves changing the identity of # Reatiies competing products. = Customisation results in customer retention. Download More Books From : Job-Adda.in i M | kill » Check Your Skills 8. The objective of market segmentay,, * includes uO 4 clevindineg maar tets ie onder he Be tate s ty make customer-oriented to marketin, cs ‘ ‘ cre (4) AML of the or st (5) None of the above 2 eas io se mo (2) Manager of othes aries srmvernd i, inarlel atgiviadl eek opittiing 3. The basis for consumer mar includes (rsa taeoenenr All of the above 4. Which is a benetit of mark 1 Eo allow ation of mark flective marbrtiny p tig the competitia $S. Who is prospective Assets Staff cust wel attractive ta het segmentation hartered accountant. 2) All of the above (5) None of the above Life style of a customer includes (1) social status value of customer of customer cet segmentation budget 1. (2) eultur (3) percep (4) motivation (3) Allof the above 12. Behavioural basis includes (4/loyalty or brand leyalty (2) attitude (3) buying occasions of market segmentation | terinine the product mix (4) Allof the above let the target market (5) Note of the above of the above Nowe of the above 13. Which are the factors relating to target marker? 7. Target customer means 1) cmt ceutie 4/ profit centre 10% aud present customer All of the above (1) Goals of the firm (2) Tinage of the firm (3) Company Pesources (4) Product characteristics and product varie¥ (5) All of the above and staff market Segakeaiig}oad More Books From : Job-Adda.in 4. Which is the basis. of psyehogt ome, "45. Which of the following is the basis for seginenung the ” 1° above 16. Which of the following constitutes geographic segmentation? (1) Chinatie 10 (2) Region 4) State 14) Allof the 5) None of these 17. Which of the following comes under demographic factors? (1) Age C2) Sex (0) Family size (4) Religion (5) All of these 18. Which of the following elements comes under the psychographic segmentation? (1) Personality traits (2!) Attitudes 2) Life sty (4) Value system (5) All of these 19. The consumer market can be segn the basis of (1) incon $) sex 5) Al of these 20. Which of the follow variable? val us| to buy sions fe above 21. Basic factors affecting the market segmentation include (1) clear ide ification of the s« nent (2) mweasurability of its ellective size (9) its accessibility (4) its appropriateness (5) All of the above 3D 22. The hive effective market 4) cvs essinyguichisibe anal feasible PAM of the abe 23. Which of the following is the first element of a murkeving strategy? 1 (2) Proxiuet 4) Proxuetion 5) Nene of theme 24. The... and the ...are the two elements of a marketing mix strategy that determine the success of a product in the market P) target iarket. price {) prodiet. prion (5) Nowe of 25. Product position marketers try of the produ Fositioning of product involves 71) placing the produet in shops (2) making the products available to the cust 5) changing, Wentity of the product loping the new product 5) Nowe of the above 27. De positioning involves (1) creating an image of product (2) changing the price of product, (4) changing the identity of competing products, (4) developing the new product 5) None of the above 28. Market segmentation provides a focused approach to winning the game by answering the issues (1) which groups of users should we serve (2) with whom will we compete (3) how ean we outperform them (4) Al of the above (5) Nowe of the 34 useful for 29; tare sgmemaion# WHE (2 ace exigent (i) identity prospects: me tates a entation is required ae (irene teas aro meh (21 to increase production (3) for toretory allocation 14) for toca (5) for increasi ‘31. Market segmentation helps in [PNB FO 2009] (idestitying the target group (2) focused markets (3/ improved lead generation (4) Both 1” and 2" (3) All of the above 32. One of the following isa target group for the marketing of Internet banking [S81 Clerk 2009} (1) all the customers (2) all the educated customers (1) all the computer edacated customers (4) oly creditors (5) All of the above 39. The target group for credit cards is [SBNClerk 201 (U)all card holders (2) all existing borrowers (3) individuals with taxable incot 4) All of the above 0 (3) Nowe of the above 34. Marketing se involves 1808 PO 2010) 1an into homogeneous employees into talent uring the service level one of the above 35. Marker segmentation can be resorted to by way of [808 Fo 2010) (segmenting geographically (2) seguemting by income (3) segmen ng, by age (4) Both “1 and 2! 15) All of the above Download More Books From : Job-Adda.in 41. Target market for 43. The target grou, Marhetin. —= Bting ie \ 36. Market segmentation is use) we Market 1 target existing clients ' ao (o identifying prospects ‘ es (3) preferential marketing us (4) internal macketing a (5) All of the above | ae | ) janket segmentation means i, a. 7 segmentation of sales team "94 gg, wu (2) distribution of territory \ 9 (3) sales network ; (4) division of market accordingiay 1, y requirement 4 (5) market sbare £ 38, Target market of (48. 1) all school stude wei : (al calor fusenat | | (5) all hospitals @ 1581 y _ ( 39, Target s [S81 Cie ( ha (2) all salespersons | buyers (4) all customers Persons one of the following is not a wf © up for savings bank account? [SBI Clerk any 4 (2) Salaried person ui (2) Loss incurring companies \ at (3) Doctors \ 3 (4) Government servants a (3) Insurance agent | housing loans will be | (2) existing clients SBI Clerk 2011) (2) persons who do not own a ty couse @ pal," own more than one house (5) NRYs 42. The target group for Personal loans is {SBI Clerk 2011) (1) all private Limited ¢o nies (2) all businessmen “™PAnies (3) all salaried persong (4) minor chiletren (5) newborn infants feet P for tractor loans ig Cold storage plants 1SBI Clerk 2012) (6) farmers with large land hota lek 20221 (3) farm labourers ‘ () agriculture colleges (5) vegetable vendors oN Wl fey 184 7 Market Segmentation + ga The target group for a car loan is (Jal high income individuals [SB Clerk 20921 (2)all car dealers (a)all students (4)all BPL persons ‘ti, (3) blind persons 2, 45, Market segmentation means grouping 11) the sales teams \ (2) the customers as per their needs and tastes © the (3) selling arrangements (4) the counter staff (5) the back-office staff is 46. The target group for SME (Small and stu Medium Enterprise) loans is {681 Clerk 2012] aly te, (1) all SSIs (Small Scale Industries) 81 pg (2) all college professors Gao (3) all students ‘ek a, (4) all nurses

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