Marke ng in banking and Insurance

1) What is buying behaviour ?

Ans : Consumer buying behaviour refers to the ac ons and decisions that
individuals or households make when they purchase goods or services
for personal use.

2) List 2 types of service expecta on ?

Ans : 1. Desired level of Expecta ons.
2. Adequate level of Expecta ons.

3) Define communica on ?
Ans : Communica on is the process of transmi ng informa on, idea, or
Emo ons between individuals or group through various channel.

4) List 4 types of buying behaviour ?

Ans : 1. Complex buying behaviour.
2. Dissonance – Reducing buying behaviour.
3. Habitual buying behaviour.
4. Variety seeking buying behaviour.

5) What are the stages of buying process.

Ans : 1. Problem recogni on.
2. Informa on search.
3. Evalua on of alterna ve.
4. Purchase decision.
5. Post purchase behaviour.
6) Define customer expecta ons.
Ans : Customer expecta ons are beliefs about service delivery that serve as
a standard of reference point against which performance is judge.

7) Define consumer delight ?

Ans : Customer delight is the process of exceeding a customers expecta ons
to create a posi ve experience with your product or brand.

8) Define IMC ?
Ans : IMC stands for Integrated Marke ng Communica ons, which is the
Strategic co-ordina on of various promo onal elements of convey
A consistent message to target audience.

Short notes
1) Communica on Process ?
Ans : In banking, communica on today makes use of a wide range of online
tools, such as data analysis programs, mobile apps, digital payment
systems, automated solu ons to support customer service, products
for centralized management of document processes, and pla orms for
crea ng interac ve content.

2) Persuasive Communica on ?
Ans : Persuasive Communica on is any message whose sole purpose is to
get the listener to support and transform their thinking in sa sfac on
or dissa sfac on. In some cases like the legal services, the customer
will find it difficult to judge the service rendered even a er receiving
the service.
3) Consumer Behaviour ?
Ans : Consumer behaviour is viewed as an orderly process whereby the
individual interacts with his or her environment for the purpose of
making marketplace decision on products or services. There are many
factors that influence consumer behaviour. Poten al customers are
subject to various s muli.

4) Consumer Expecta ons ?

Ans : Customer expecta ons are beliefs about service delivery that serve as
a standard of reference point against which performance is judge.
Expecta ons are formed from a variety of influencing factors,
including past experience, current needs, feedback from friends,
colleagues and rela ves, customers previous experience of a company
and that of his compe tors.