Marketing Awareness Quiz – Set 11

Hello Aspirants. Welcome to Marketing Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important events in Marketing Awareness , which are common for all the bank exams like LIC, SBI and other competitive exams. We have included Some Marketing Awareness questions that are repeatedly asked in many bank exams.

1. The physical distribution involves which activities?
   A. Sales force costing
   B. Retail warehousing
   C. Customer service
   D. All of these
   
   Answer & Explanation

   D. All of these
   Explanation:The basic elements of specific functions that make up physical distribution include (i) Materials handling; (ii) inventory planning and control ; (iii) order processing ; (iv) transportation ; and (v) a communication system to integrate the physical distribution process.’
   
   
2. Marketing management is the process of product planning, pricing, promotion and _________ along with the services to generate transaction that satisfies the organisational and user objectives.
   A. Distribution
   B. Reward
   C. Goals
   D. None of these
   
   Answer & Explanation

   A. Distribution
   Explanation:Marketing management is the organizational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of a firm’s marketing resources and activities.
   
   
3. Which among the following is NOT motivation models?
   A. Economic model
   B. Learning model
   C. Psycho-analytic model
   D. All of these
   
   Answer & Explanation

   D. All of these
   Explanation:One of the most important factors to achieving success with your small business is the ability to motivate your employees. No two workers are alike; it can be a challenge to understand what makes each one tick so that you can apply the appropriate motivational technique. A number of motivational theories have been developed over time that can help you get the most out of your workers.
   
   
4. Decentralisation refers to the systematic efforts to delegate to the lowest levels all authority except that which can be exercised at central points” Who said it?
   A. Lavis A. Allen
   B. Stanton
   C. Still and Scwaff
   D. None of these
   
   Answer & Explanation

   A. Lavis A. Allen
   Explanation:In decentralized organizations, there is more freedom and autonomy when multiple marketing departments are responsible for promoting the products/services of the different BU’s (Business Units) of the organization.
   
   
5. Buying situations may be caused by ________.
   A. Awareness about competing brands in a product group.
   B. Customer has decision criteria
   C. Customer is able to evaluate and decide on his choice
   D. All of these
   
   Answer & Explanation

   D. All of these
   Explanation:Business buyer behavior refers to the buying behavior of the organizations that buy goods and services for use in production of other products and services that are sold, rented, or supplied to others.
   
   
6. The sum of direct materials and direct labour costs is called
   A. Prime cost
   B. Factory cost
   C. Overhead cost
   D. Value of stock
   
   Answer & Explanation

   A. Prime cost
   Explanation:A business’s expenses for the materials and labor it uses in production. Prime cost is a way of measuring the total cost of the production inputs needed to create a given output. By analyzing its prime costs, a company can determine how much it must charge for its finished product in order to make a profit. By lowering its prime costs, a company can increase its profit margin and/or undercut its competitors’ prices.
   
   
7. Product plays a ________ role in the activities of a business.
   A. a secondary
   B. a collateral
   C. a central
   D. none of these
   
   Answer & Explanation

   C. a central
   Explanation:In marketing, a product is anything that can be offered to a market that might satisfy a want or need. In retailing, products are called merchandise. In manufacturing, products are bought as raw materials and sold as finished goods.
   
   
8. _________ costs are those costs which are incurred to perform the marketing functions.
   A. Distribution costs
   B. Full costs
   C. Sale of goods
   D. Total cost
   
   Answer & Explanation

   A. Distribution costs
   Explanation:Cost or expense incurred in moving goods from the point of production to the point of consumption. Also called distribution expense.
   
   
9. Which one of the formula may be used for setting prices under cost plus pricing method?
   A. Selling price = Unit total cost +desired unit profit
   B. Selling price = Unit total cost + profit
   C. Selling price = Unit total cost + selling expenses
   D. None of these
   
   Answer & Explanation

   A. Selling price = Unit total cost +desired unit profit
   Explanation:Cost-plus pricing is a pricing strategy in which the selling price is determined by adding a specific dollar amount markup to a product’s unit cost. Mark ups are when you add a % to the cost to set the price. An alternative pricing method is value-based pricing.
   
   
10. The process of advertising in business begins with market situation analysis conducted to assess the marketing _______ for the product in the existing state of business in the market
    A. opportunities
    B. assessibility
    C. difficulty
    D. functioning
    
    Answer & Explanation

    A. opportunities
    Explanation:An advertising strategy is a campaign developed to communicate ideas about products and services to potential consumers in the hopes of convincing them to buy those products and services. This strategy, when built in a rational and intelligent manner, will reflect other business considerations (overall budget, brand recognition efforts) and objectives as well.