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Marketing Knowledge Test - 3

Description: The series of tests covers the basis concepts of marketing there by with this knowledge, One can score much in less time in the Entrane exam. One can not afford to miss this test!
Number of Questions: 30
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Tags: Marketing Knowledge MBA Marketing SBI PO Marketing SBI Clerk MArketing Banking Awareness Information about Sports Indian Physical Geography Static GK General Awareness Economy Current Affairs
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A creative exercise tried with every existing product. It is not what you do to a product is called as _____

  1. Product Exercise

  2. Research

  3. Product Positioning

  4. None of the above


Correct Option: C

Which of the following are the different options that a company have to position or reposition its products?

  1. By making altogether different claim or USP

  2. By highlighting the new product features

  3. By entering in new market segment

  4. All the above


Correct Option: D

Which of the following is the best determinant for the Successful product positioning?

  1. Design creative product proposition

  2. Existence of warranted competition

  3. Sizeable, Sensitive and profitable market segment

  4. All the Above


Correct Option: D

Either changing the product itself or repositioning it by changing its promotional focus. It is viable alternative to new product development because, it is less expensive and is crowned with greater degree of success is called as _____

  1. Product repositioning

  2. Product change

  3. Product Modification

  4. Product development


Correct Option: C

Given below are the different steps that involved in the product positioning. Arrange in them in a particular order? i) Choosing the competitive advantage ii) Signalling the competitive advantage iii) Identifying potential competitive advantage

  1. (i), (ii) and (iii)

  2. (ii), (iii) and (i)

  3. (ii), (i) and (iii)

  4. (iii), (i) and (ii)


Correct Option: D

Which of the following is NOT one of the ways for the above?

  1. Functional changes

  2. Quality changes

  3. Price changes

  4. Environmental impact changes


Correct Option: C

Which of the following is NOT an objective of Product diversification?

  1. Quality of the product

  2. Growth in the Market

  3. Survival in the Market

  4. Stability in the Market


Correct Option: A

'Product' one of the P's of marketing mix helps in achieving the marketing objectives only when there is happy and lasting wedding between the product and the market. This congruity product and market is called as _______

  1. Product-Market Mix

  2. Market-Product Mix

  3. Marketing Mix

  4. Product-Market Integration


Correct Option: D

Which of the following is NOT a merit of the Product Diversification?

  1. Growth and Stability

  2. Profit maximization

  3. Long-term measure

  4. None of the above


Correct Option: D

Which of the following is NOT a method of Product diversification?

  1. Obtaining Patents and Licenses

  2. Amalgamations and absorptions

  3. Monopoliness

  4. Internal to research and development


Correct Option: C

Which of the following External Factors that does NOT influence the Product Pricing decisions?

  1. Product Demand & Competition

  2. Product Life-cycle

  3. Economic condition

  4. Government Regulation


Correct Option: B

Which of the following is NOT and objective of the Pricing?

  1. Target return on investment

  2. Resource mobilization

  3. Survival and stability in the Market

  4. To attract the people irrespective of the profit / loss


Correct Option: D

Which of the following is NOT the right approach to the Pricing?

  1. Identify the target customers

  2. Estimate the costs and demand

  3. Observe competitor's price

  4. Maximize the profits


Correct Option: D

Arrange the steps that are involved in the Product simplification procedure which are given below. i) Committee formation ii) Design criteria iii) Spell out simplification strategies iv) Programme implementation

  1. (i), (ii), (iii) and (iv)

  2. (ii), (i), (iv) and (iii)

  3. (iii), (i), (iv) and (ii)

  4. (iv), (i), (iii) and (ii)


Correct Option: A

The method of pricing the product based on the manufacturer's cost is called as ____

  1. Manufacturer cost based pricing

  2. Cost based pricing

  3. Return based pricing

  4. Cost plus pricing


Correct Option: D

Which of the following is NOT a demerit of the Product Diversification?

  1. Risk involved

  2. Trap of full-line competition

  3. Huge investment

  4. None of the above


Correct Option: D

A method of creating a typical consumer perception so that the consumer is made to buy the product is called as _______

  1. Tricky pricing

  2. On-demand pricing

  3. Psychological pricing

  4. Discount pricing


Correct Option: C

In General, Most of the Marketing people believe that, Pricing plays a vital role at macro and micro levels of the economy of any country. Which of the following point does NOT support this statement?

  1. Price regulates demand

  2. Quality of the product is important than its Price

  3. Price is competitive weapon

  4. Price is the determinant of profitability


Correct Option: B

The price differential that reduces the quoted price so that the buyer pays much less than the quoted price is called as ___

  1. Offer

  2. Rebate

  3. Discount

  4. Bonanza


Correct Option: C

The method of pricing the product based on consumer demand and in perspective of attaining maximum profits is called as _____

  1. Consumer based pricing

  2. Demand based pricing

  3. Demand modified break-even analysis

  4. Break-even pricing


Correct Option: C

An amount we pay for a good or a service or an idea is called as _____

  1. cost

  2. price

  3. M.R.P

  4. Investment


Correct Option: B

Which of the following Internal Factors that does NOT influence the Product Pricing decisions?

  1. Organizational factors

  2. Marketing mix

  3. Product differentiation

  4. Competitors


Correct Option: D

A deduction of the quoted price is called as _______

  1. Offer

  2. Rebate

  3. Discount

  4. Bonanza


Correct Option: B

Adding new product or products to the existing product-line or product-mix is called as ______

  1. Product-line-mix

  2. Product-mix

  3. Product-diversification

  4. Product-modification


Correct Option: C

The method of pricing the product based on manufacturer's cost and competitor's cost together is called as _____

  1. Secret Pricing

  2. Aggressive Pricing

  3. Sealed bid pricing

  4. Run-over pricing


Correct Option: C

The method of pricing the product based on the target returns is called as _____

  1. Profit based pricing

  2. Cost based pricing

  3. Return based pricing

  4. Target return pricing


Correct Option: D

Which of the following is NOT a type of product diversification?

  1. Lateral

  2. Related

  3. Vertical

  4. Horizontal


Correct Option: B

Which of the following is NOT a product simplification strategy?

  1. Pruning strategy

  2. Run-out strategy

  3. Marketing strategy

  4. None of the above


Correct Option: D

Quite opposite of product-diversification involving a managerial exercise to rationalize the product-line, It is product pruning or product deletion or product abandonment or dropping process to retain those product items which meet company criteria based on profits, turn-over and utilization of resources is called as ____

  1. Product-line Planning

  2. Product-line Modification

  3. Product-line Simplification

  4. None of the above


Correct Option: C

The method of pricing the product based on the competitor's cost is called as _____

  1. Market based pricing

  2. Competitor pricing

  3. Going on pricing

  4. Going rate pricing


Correct Option: D
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