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 IBPS, LIC, SBI, and other competitive exams. We have included Some Marketing Awareness questions that are repeatedly asked in many bank exams.
- ________________________ is as a collection of buyers and sellers who transact over a particular product or service.
5.None of theseAnswer – 4.Market
Economists describe a market as a collection of buyers and sellers who transact over a particular product or service.
- Which of the following is not a feature of Marketing ?
1.Marketing is a connecting link between the consumer and the producer
2.Marketing helps to increase National Income
3.Marketing increases Employment Opportunities
4.Marketing is recognized as the most important or significant activity in our society.
5.All of theseAnswer – 5.All of these
All the statements are importance of Marketing given by economist
- In which pricing method, some percentage of profit is added to the cost price of the product?
3.Demand Based Pricing
5.None of theseAnswer – 4.Cost-Based pricing
Cost-based pricing refers to a pricing method in which some percentage of desired profit margins is added to the cost of the product to obtain the final price.
- The price of a product is fixed according to the prevailing price trends in the market is known as
1.Going Rate Pricing
2.Target Return Pricing
5.None of theseAnswer – 1.Going Rate Pricing
Implies a method in which an organization sets the price of a product according to the prevailing price trends in the market. Thus, the pricing strategy adopted by the organization can be same or similar to other organizations.
- ____________ is a pricing method in to win loyal customers by charging low prices for their high- quality products
5.Index PricingAnswer – 2.Value Pricing
Value pricing is a method in which an organization tries to win loyal customers by charging low prices for their high- quality products. The organization aims to become a low cost producer without sacrificing the quality.
- Which pricing is also known as average cost pricing ?
3.Cost based pricing
4.Demand based pricing
5.All of theseAnswer – 1.Cost-plus pricing
Cost-plus pricing is also known as average cost pricing. This is the most commonly used method in manufacturing organizations.
- Which model establishes a relationship between risk and expected returns of a security ?
1.Double Win Strategy
2.Balancing Asset Pricing Model
3.Cost Pricing Model
4.Capital Pricing Model
5.Capital Asset Pricing ModelAnswer – 5.Capital Asset Pricing Model
Capital Asset Pricing Model(CAPM) developed by William Sharpe (1964) and John Lintner(1965), the theory establishes a relationship between risk and expected returns of a security and is used to price risky securities.
- The markup per unit is expressed by
5.None of theseAnswer – 4.X/Q
P = AVC + AFC + X/Q
AVC is the average variable cost
AFC is the average fixed cost
X/Q is the markup per unit
- What is Markup ?
1.The difference between the cost price and selling price
2.The ratio between the cost price and selling price
3.The ratio between the selling price and cost price
4.The difference between the selling price and cost price
5.None of theseAnswer – 1.The difference between the cost price and selling price
Markup pricing or cost-plus pricing is a pricing strategy where the price of a product or service is calculated by adding together the cost of the products and a percentage of it as a markup
- The process of selling of goods and services within the departments of the organization is related with which pricing method ?
5.None of theseAnswer – 3.Transfer Pricing
Transfer pricing is the setting of the price for goods and services sold between controlled (or related) legal entities within an enterprise. For example, if a subsidiary company sells goods to a parent company, the cost of those goods paid by the parent to the subsidiary is the transfer price.
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