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Marketing Awareness Quiz – Set 22

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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. The sole purpose of marketing is to ______________
    1.Sell more products
    2.Create new products
    3.Increase the profits
    4.Increase the growth
    5.All of these
    Answer – 1. Sell more products
    Explanation :
    The sole purpose of marketing is to sell more to more people, more often and at higher prices.

  2. A product lifecycle is very much similar to human life cycle said by whom ?
    1.Philip Kotler
    2.Arch Paton
    3.Simon Clift
    4.Malcolm McLaren
    5.None of these
    Answer – 2.Arch Paton
    Explanation :
    Arch Paton said ‘a product lifecycle is very much similar to human life cycle’

  3. Which of the following is the market where investments are made ?
    1.Scarcity Marketing
    2.Investment Market
    3.Button market
    4.Drip Market
    5.None of these
    Answer – 3.Button market
    Explanation :
    ‘Button market’ is where investments are made. If refers to online buying and selling of investments.

  4.  CTA stands for ________________
    1.Consumer To Assest
    2.Customer To Action
    3.Call To Action
    4.Collection To Arrival
    5.None of these
    Answer – 3.Call To Action
    Explanation :
    In marketing, a call to action (CTA) is an instruction to the audience to provoke an immediate response.

  5. The first step of new-product development is _________________
    1.Idea Screening
    2.Product Development
    3.Concept Development
    4.Idea generation
    5.None of these
    Answer – 4.Idea generation
    Explanation :
    The new product development (NPD) consists of 7 stages:
    Idea generation, Idea Screening, Concept Development and Testing, Marketing Strategy Development, Product Development, Test Marketing and Commercialization

  6. Which is a detailed version of the idea stated in meaningful consumer terms ?
    1.Product Concept
    2.Product Image
    3.Product Idea
    4.Product Flow
    5.None of these
    Answer – 1.Product Concept
    Explanation :
    A product concept is a detailed version of the idea stated in meaningful consumer terms. This is different again from a product image, which is the consumers’ perception of an actual or potential product.

  7. According to Kotler, Marketing research consists of ___________
    1.Systematic design for collection
    2.Analysis
    3.Reporting of data
    4.Both 1 and 3
    5.All of these
    Answer – 5.All of these
    Explanation :
    Philip Kotler, Marketing research consists of systematic design for collection, analysis, and reporting of data and findings relevant to specific marketing situation facing company.

  8. According to whom , A product exists in different stages and in different competitive environment ?
    1.Willian J. Stanton
    2.Arch Paton
    3.Neil Borden
    4.Philip Kotler
    5.None of these
    Answer – 1.Willian J. Stanton
    Explanation :
    Willian J. Stanton says From its birth to death, a product exists in different stages and in different competitive environment. Its adjustment to these environments determines to a great degree just successful its life will be.”

  9. In which of the following situation Marketing is required ?
    1.Supply Exceeds Demand
    2.Supply Equals To  Demand
    3.Demand Exceeds Supply
    4.All of these
    5.None of these
    Answer – 1.Supply Exceeds Demand
    Explanation :
    Marketing is definitely required when supply exceeds demand.

  10. In which stage of NPD(New Product Development), new product is introduced to the market ?
    1.Product Development
    2.Commercialization
    3.Test Marketing
    4.Concept Development and Testing
    5.None of these
    Answer – 2.Commercialization
    Explanation :
    Commercialization – The final step in new product development is Commercialization. Introducing the product to the market-it will face high costs for manufacturing and advertising and promotion.