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Marketing Awareness Quiz – Set 23

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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. Which of the following elements are related with Micro environment ?
    1.Publics, Economic forces
    2.Company, Suppliers, Customers
    3.Demographic forces, Cultural forces
    4.Marketing Intermediaries, Natural forces
    5.All of these
    Answer – 2.Company, Suppliers, Customers
    Explanation :
    Micro Environment facors: Company, Suppliers, Customers, Competitors,Publics, Marketing Intermediaries

  2. __________ refers to the successful selling of a product or service in a specific market
    1.Substantiality
    2.Penetration
    3.Compettion
    4.Marketing
    5.None of these
    Answer – 2.Penetration
    Explanation :
    Market penetration refers to the successful selling of a product or service in a specific market, and it is measured by the amount of sales volume of an existing good or service compared to the total target market for that product or service.

  3. Which is a product or service with a committed customer base ?
    1.Branding
    2.Fashion
    3.Brand Loyality
    4.Cult Brand
    5.None of these
    Answer – 4.Cult Brand
    Explanation :
    A Cult brand is a product or service with a committed customer base. The attainment of such true believers or ‘near fanatical’ customers is made possible because cult brands sell more than a product, they sell a lifestyle.

  4. ___________ is the key objective for Internet marketing
    1.Online revenue contribution
    2.Online promotion contribution
    3.Online Product Contribution
    4.All of these
    5.None of these
    Answer – 1.Online revenue contribution
    Explanation :
    The key objective for Internet marketing is the online revenue contribution. It is an example of anticipating customer requirements

  5. Which of the following term refers to a reduction in sales volume, sales revenue ?
    1.Commercialisation
    2.Customisation
    3.Cannibalization
    4.Captualization
    5.None of these
    Answer – 3.Cannibalization
    Explanation :
    In marketing strategy, cannibalization refers to a reduction in sales volume, sales revenue, or market share of one product as a result of the introduction of a new product by the same producer.

  6.  The price skimming policy is related with which type of pricing ?
    1.Initial Price
    2.Marginal Price
    3.Market Price
    4.Cost Price
    5.None of these
    Answer – 1.Initial Price
    Explanation :
    Price skimming is a product pricing strategy by which a firm charges the highest initial price that customers will pay. As the demand of the first customers is satisfied, the firm lowers the price to attract another, more price-sensitive segment.

  7.  Direct material and direct labor are called as ____________
    1.Prime Cost
    2.Conversion Cost
    3.Variable Cost
    4.Product Cost
    5.None of these
    Answer – 2.Conversion Cost
    Explanation :
    Direct labor and overhead are often called conversion cost. while direct material and direct labor are often referred to as prime cost

  8. ______________ is the process of marketing a product or service using the Internet.
    1.E-Marketing
    2.E-Business
    3.E-Commerce
    4.E-Trading
    5.None of these
    Answer – 1.E-Marketing
    Explanation :
    E-Marketing (Electronic Marketing) are also known as Internet Marketing, Web Marketing, Digital Marketing, or Online Marketing. E-marketing is the process of marketing a product or service using the Internet. It not only includes marketing on the Internet, but also includes marketing done via e-mail and wireless media.

  9. PV Ratio is also known as Contribution to Sales Ratio. PV stands for
    1.Product Validity
    2.Product Value
    3.Profit Volume
    4.Product Value
    5.None of these
    Answer – 3.Profit Volume
    Explanation :
    The Profit Volume Ratio (PV Ratio) is the relationship between Contribution and Sales Value. It is also termed as Contribution to. Sales Ratio.

  10. The internet version of word of mouth marketing is a types of which marketing ?
    1.Guerrilla marketing
    2.Viral Marketing
    3.Drip Marketing
    4.Bench Marketing
    5.None of these
    Answer – 2.Viral Marketing
    Explanation :
    The internet version of word of mouth marketing is termed as Viral marketing.