Marketing Awareness Quiz – Set 9

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. Which type of marketing involves selling of mere goods?
   A. Guerilla Marketing
   B. Viral Marketing
   C. Transaction Marketing
   D. None of these
   

   Answer & Explanation

   C. Transaction Marketing
   Explanation:Transactional marketing is a business strategy that focuses on single, “point of sale” transactions. The emphasis is on maximizing the efficiency and volume of individual sales rather than developing a relationship with the buyer.
   
   
2. Channels of marketing means
   A. Outlets from where sales take place
   B. Focusing sales on one single group
   C. Home delivery
   D. Courier Service
   

   Answer & Explanation

   A. Outlets from where sales take place
   Explanation:There are basically four types of marketing channels: Direct selling; Selling through intermediaries; Dual distribution; and Reverse channels. Essentially, a channel might be a retail store, a web site, a mail order catalogue, or direct personal communications by a letter, email or text message.
   
   
3. The share of market means
   A. Share price quoted in the market
   B. Percentage share of business of the company, as compared to peers
   C. Staff strength of the company
   D. Share capital of the company
   

   Answer & Explanation

   B. Percentage share of business of the company, as compared to peers
   Explanation:Out of total purchases of a customer of a product or service, what percentage goes to a company defines its market share. Out of total purchases of a customer of a product or service, what percentage goes to a company defines its market share. In other words, if consumers as a whole buy 100 soaps, and 40 of which are from one company, that company holds 40% market share.
   
   
4. For an ATM-cum-Debit card the target group is
   A. All prisoners
   B. Firms
   C. All existing and prospective customers
   D. All School Children
   

   Answer & Explanation

   C. All existing and prospective customers
   Explanation:It is a plastic payment card that provides the cardholder electronic access to their bank account(s) at a financial institution.
   
   
5. Marketing is more required when
   A. There is monopoly
   B. Supply equals demand
   C. Supply exceeds demand
   D. Staff in excess
   

   Answer & Explanation

   C. Supply exceeds demand
   Explanation:When introducing high-value, high-priced products, more sales interaction is required. When placing a price on an item or service, it is crucial to accurately assess demand. Simply put, a shortage of an item nearly always leads to higher prices, while an overabundance—or just fierce competition–will drive prices down. As prices go down, more people are able to buy the product; thus the demand will usually rise.
   
   
6. If the market share falls then it implies that
   A. Competition has increased
   B. Sales have gone up
   C. Profit has gone up
   D. Business is wound up
   

   Answer & Explanation

   A. Competition has increased
   Explanation:Market shares can be value or volume. Value market share is based on the total share of a company out of total segment sales. Volumes refer to the actual numbers of units that a company sells out of total units sold in the market.
   
   
7. In marketing a cold call means
   A. Sales talk
   B. A futile exercise
   C. Old product with new wrapping
   D. Calls made without prior appointment
   

   Answer & Explanation

   D. Calls made without prior appointment
   Explanation:Cold calling typically refers to phone calls but can also entail drop-in visits, such as with door-to-door salespeople. In finance, cold calling can refer to a method by which brokers obtain new business by making unsolicited calls to potential clients.
   
   
8. A ‘Push’ marketing strategy necessitates
   A. Good pushing strength
   B. Lengthy talks
   C. Collective effort
   D. Aggressive marketing
   

   Answer & Explanation

   C. Collective effort
   Explanation:Push marketing is a promotional strategy where businesses attempt to take their products to the customers. For example in department stores that sell fragrance lines. The manufacturing brand of the fragrance will often offer sales incentives to the department stores for pushing its products onto customers. This tactic can be especially beneficial for new brands that aren’t well-established or for new lines within a given brand that need additional promotion.
   
   
9. Meaning of Buyer Resistance in marketing is
   A. Exchange of products
   B. Fight between buyer and seller
   C. Buyer retracting the sale
   D. Buyer’s hesitation in buying the product
   

   Answer & Explanation

   D. Buyer’s hesitation in buying the product
   Explanation:Buyer resistance refers to the deployment of procurement resources by a buyer in an attempt to obtain lower prices from suppliers. When confronting unexpectedly high prices from suppliers, a procurement division may devote resources to resist the price increase. For example efforts by buyers to identify, invite, and encourage qualification of additional bidders.
   
   
10. In any marketing the best promotional tool is
    A. Word of mouth publicity
    B. Newsletters
    C. Pamphlets
    D. Viral marketing
    

    Answer & Explanation

    A. Word of mouth, publicity
    Explanation:Word-of-mouth marketing (WOMM, WOM marketing), also called word of mouth advertising, differs from naturally occurring word of mouth, in that it is actively influenced or encouraged by organisations (e.g. ‘seeding’ a message in a network)