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SBI PO Marketing Question Bank - Download PDF. Published on Wednesday, July 22, By Ramandeep Singh. SBI PO Mains exam is going to held on 26 . Click here to download the list of Marketing Questions in PDF SBI PO Pre-Exam Model Questions Paper-I in PDF J&K Bank. List of 50 Important Marketing Questions for Upcoming SBI PO Exams was given here to download in PDF. Candidates those who are List of Important Banking Awareness Questions for SBI PO Exam · Set of Practice.
Nahla M. Wahba Group: The file is protected and restricted to edit. For further inquiries please contact me on my FB account: The buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others.
Define the consumer market and construct a simple model of consumer buyer behavior Text book Quest.
The consumer market consists of all the individuals and households who buy or acquire goods and services for personal consumption. The simplest model of consumer buyer behavior is the stimulus-response model.
Marketing Aptitude Questions and Answers - General Knowledge
Once in the black box, these inputs produce observable buyer responses, such as product choice, brand choice, purchase timing, and purchase amount. Name the four major factors that influence consumer buyer behavior Text book Quest.
Explain with an Example.
For example, the cultural shift toward greater concern about health and fitness has created a huge industry for health-and-fitness services, exercise equipment and clothing, organic foods, and a variety of diets. The shift toward informality has resulted in more demand for casual clothing and simpler home furnishings.
A group of people with shared value systems based on common life experiences and situations. Briefly discuss it. Some experts call this group the influential or leading adopters. When these influential talk, consumers listen.
Human needs are arranged in a hierarchy: Thus, motivation researchers use a variety of probing techniques to uncover underlying emotions and attitudes toward brands and buying situations. Learning occurs through the interplay of drives, stimuli, cues, responses, and reinforcement. Chapter 8 A Definition: Medical services, designer clothes, and high-end electronics.
Life insurance, funeral service, and blood donation. Materials and parts, capital, row materials. B Essay Questions: Define product and the major classifications of products and services Text book Quest. Briefly discuss the levels of products and service. Core benefits represent what the buyer is really buying. Actual product represents the design, brand name, and packaging that delivers the core benefit to the customer.
Augmented product represents additional services or benefits of the actual product. Describe the decisions companies make regarding their individual products and services, product lines, and product mixes Text book. Identify the four characteristics that affect the marketing of services and the additional marketing considerations that services require Text book Quest. Services are characterized by four key characteristics: Discuss branding strategy—the decisions companies make in building and managing their brands Text book Quest.
Companies must build and manage their brands carefully. What are the product and service classifications? Discuss briefly. Consumer Products: Buildings factories, offices and fixed equipment.
Cities, states, regions, and even entire nations compete to attract tourists, new residents, conventions, and company offices and factories. Briefly discuss the individual product and service decisions.
These benefits are communicated and delivered by product attributes such as quality, features, and style and design. The activities of designing and producing the container or wrapper for a product. Briefly discuss the product line decision.
Marketing Awareness Questions - Marketing Awareness GK Quiz Details
There are several reasons for product line filling: The company can stretch its line downward, upward, or both ways. What are the types of service industry?
Briefly discuss the products mix product portfolio decisions. Product mix consists of all the products and items that a particular seller offers for sale: Briefly discuss the Nature and characteristics of a service. Briefly discuss the Marketing strategies for service firms. In addition to traditional marketing strategies, service firms often require additional strategies: The chain that links service firm profits with employee and customer satisfaction.
Orienting and motivating customer contact employees and supporting service people to work as a team to provide customer satisfaction must precede external marketing. Managing service productivity refers to the cost side of marketing strategies for service firms. Define the brand Equity and tell how strong brands can be built. Brand equity: The differential effect that knowing the brand name has on customer response to the product or its marketing.
Building strong brands: Brand positioning: Brand strategy decisions include: Brand name selection: Desirable qualities: Brand sponsorship: A manufacturer has four sponsorship options: Brand development strategies: Or it may create a new brand name when it enters a new product category for which none of its current brand names are appropriate Chapter 10 a Definitions: Good-value pricing offering the right combination of quality and good service at a fair price.
Everyday low pricing EDLP charging a constant everyday low price with few or no temporary price discounts High-low pricing charging higher prices on an everyday basis but running frequent promotions to lower prices temporarily on selected items Fixed costs overhead costs that do not vary with production or sales level.
Variable costs are costs that vary directly with the level of production. Total costs are the sum of the fixed and variable costs for any given level of production.
Experience curve learning curve the drop in the average per-unit production cost that comes with accumulated production experience. Cost-plus pricing markup pricing is adding a standard markup to the cost of the product. Break-even pricing target return pricing setting price to break even on the costs of making and marketing a product or setting price to make a target return.
Target costing Pricing that starts with an ideal selling price and then targets costs that will ensure that the price is met. Demand curve a curve that shows the number of units the market will buy in a given time period, at different prices that might be charged. Price elasticity a measure of the sensitivity of demand to changes in price. Price can be defined narrowly as the amount of money charged for a product or service, or it can be defined more broadly as the sum of the values that consumers exchange for the benefits of having and using the product or service.
The pricing challenge is to find the price that will let the company make a fair profit by getting paid for the customer value it creates. Despite the increased role of non-price factors in the modern marketing process, price remains an important element in the marketing mix. It is the only marketing mix element that produces revenue; all other elements represent costs.
Smart managers treat pricing as a key strategic tool for creating and capturing customer value. Identify the three major pricing strategies and discuss the importance of understanding customer-value perceptions, company costs, and competitor strategies when setting prices text book. Good-value pricing involves offering just the right combination of quality and good service at a fair price. However, cost-based pricing is product driven rather than customer driven.
If the price exceeds the sum of the values, consumers will not buy. Even in tough economic times, however, consumers do not buy based on prices alone.
Thus, no matter what price they charge—low or high—companies need to offer superior value for the money. If the company prices a product below its costs, profits will suffer. Cost-based pricing setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for effort and risk. Heat, rent, interest, and executive salaries. Costs as a function of production Experience: Figure But as production moves up to 1, units per day, average cost falls.
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This is because fixed costs are spread over more units, with each one bearing a smaller share of the fixed cost. So a 3,daily production plant is the best size to build if demand is strong enough to support this level of production. Here accumulated production is drawn on a semi-log scale so that equal distances represent the same percentage increase in output.
Cost-plus pricing adds a standard markup to the cost of the product. Break-even pricing is the price at which total costs are equal to total revenue and there is no profit. If consumers perceive less value relative to competing products, the company must either charge a lower price or change customer perceptions to justify a higher price.
If the company faces a host of smaller competitors charging high prices relative to the value they deliver, it might charge lower prices to drive weaker competitors from the market.
If the market is dominated by larger, low-price competitors, the company may decide to target unserved market niches with value- added products at higher prices.
From the other internal and external factors affecting the price decisions is the overall marketing, objectives, and mix, briefly discuss it. Thus, before setting price, the company must decide on its overall marketing strategy for the product or service.
If the company has selected its target market and positioning carefully, then its marketing mix strategy, including price, will be fairly straightforward. Management must decide who within the organization should set prices. Companies handle pricing in a variety of ways: In industries in which pricing is a key factor airlines, aerospace, steel, railroads, oil companies , companies often have pricing departments to set the best prices or help others in setting them.
These departments report to the marketing department or top management. Others who have an influence on pricing include: Before setting prices, the marketer must understand the relationship between price and demand for its products. Pricing in different types of Markets: Under pure Competition: File format - PDF Number of questions - Download Marketing notes. Share This: Get here. Neelisetty sai sujith July 22, at 4: PBS July 22, at 4: Winter Soldier July 22, at 7: Anuja T July 22, at 8: Hrishikesh July 22, at ShiningSt r July 23, at Vaibhav Dhakate July 23, at 8: Hardik Majithiya July 23, at 8: Swathi Sarode July 23, at 8: Er Sathesh Kumar July 23, at Prasad Teli July 23, at 3: Prasad Teli July 23, at 4: Prateek July 23, at 5: Prateek July 23, at Tarun July 24, at 2: Er Sathesh Kumar July 24, at Page 11 4.
What are the five major promotion tools? Page 10 2. I have already shared lots of useful resources for this exam. Buzz marketing Cultivating opinion leaders and getting them to spread information about a product or service to others in their communities.