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 IBPS, LIC, SBI, and other competitive exams. We have included Some Marketing Awareness questions that are repeatedly asked in many bank exams.

  1. ‘Market segmentation as the subdivision of a market into homogeneous subjects of customer’ said by whom ?
    1.Dirk Morschett
    2.Thomas Rudolph
    3.Philip Kotler
    4.American Marketing Association
    5.None of these
    Answer – 3.Philip Kotler 
    Explanation :
    Marketing Guru Philip Kotler defines market segmentation as the subdivision of a market into homogeneous subjects of customers

  2. MRP stands for
    1.Manufacturing Resource Planning
    2.Manufacturing Resource Process
    3.Making  Retail Product
    4.Material Resource Planning
    5.None of these
    Answer – 1.Manufacturing Resource Planning 
    Explanation :
    Manufacturing resource planning (MRP II) is defined as a method for the effective planning of all resources of a manufacturing company.

  3.  ______________relates to several entity’s control of a market to purchase a good or service.
    1.Tripoly
    2.Duopoly
    3.Monopoly
    4.Oligopoly
    5.None of these
    Answer – 4.Oligopoly
    Explanation :
    An oligopoly  is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). Oligopolies can result from various forms of collusion which reduce competition and lead to higher prices for consumers. Oligopoly has its own market structure.

  4. In marketing Monopsony relates with ___________ seller and ______________ buyer
    1.Many, Many
    2.Many, One
    3.One  , Sellers
    4.Two, Many
    5.None of these
    Answer – 2.Many, One
    Explanation :
    Monopsony a market situation in which there is only one buyer.  A monopsony occurs when a single firm has market power in employing its factors of production.

  5. In MRTP, P represents _________________
    1.Process
    2.Product
    3.Practices
    4.Production
    5.None of these
    Answer – 3.Practices
    Explanation :
    The Monopolies and Restrictive Trade Practices Act (MRTP Act) was passed by Parliament of India on 18 December 1969 and got president’s assent on December 27, 1969. This act is not in force in India currently as it was repealed and was replaced by Competition Act 2002 with effect from September 1, 2009.

  6. Who created the Marketing 4Ps in the 1960s ?
    1.Rom J. Markin
    2.E. Jerome McCarty
    3.William D. Perreault
    4.Philip Kotler
    5.None of these
    Answer – 2.E. Jerome McCarty
    Explanation :
    Jerome McCarty proposed a classification of marketing mix in four key areas: 1. Product 2. Price 3. Place 4. Promotion

  7. The Method of sending promotional items to clients is called ______________
    1.Concentrated Marketing
    2.Differnatiation Marketing
    3.Bench Marketing
    4.Drip Marketing.
    5.None of these
    Answer – 4.Drip Marketing.
    Explanation :
    Drip marketing is a communication strategy that sends, or “drips,” a pre-written set of messages to customers or prospects over time.

  8. The systematic recording of human cultures is called as ____________
    1.Historiography
    2.Arteriography
    3.Anthropology
    4.Ethnography
    5.None of these
    Answer – 4.Ethnography
    Explanation 
    Ethnography is the systematic study of people and cultures. The ethnographic approach to qualitative research comes largely from the field of anthropology

  9. Which of the following data available within the organisation ?
    1.Internal secondary data
    2.External secondary data
    3.Internal Primary data
    4.External Primary data
    5.None of these
    Answer – 1.Internal secondary data
    Explanation :
    Internal secondary data is the Data available within the organisation – for example, accounting records, management decision support systems, and sales records.

  10. The Concept of Goriila Marketing is introduced by __________
    1.J.C. Levinson.
    2.Gene Simmons
    3.Dennis Theodore Avery
    4.Seth Godin
    5.None of these
    Answer –1. J.C. Levinson.
    Explanation :
    In 1984, marketer Jay Conrad Levinson introduced the formal term in his book called, “Guerrilla Marketing.” Guerrilla Marketing is an advertising strategy that focuses on low-cost unconventional marketing tactics that yield maximum results.