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MARKETING BULLET

Dear PaGaLGuY readers,

This Marketing Bullet is a compressive summary of the fundamentals of Marketing, which is relevant

and important for SBI PO, SBI Clerk, SBI Associate PO & SBI Associate Clerk Exams.

Also, we have compiled several previous years’ questions from SBI PO, SBI Clerk, SBI Associate Po

& SBI Associate Clerk exam papers.

Do print out a hard copy of this for your regular use. Our goal is to ensure that you perform well in

your exams and that you have the necessary material readily available.

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Prepared by - Neeraj Mishra

(www.pagalguy.com/@neeraj23)

Marketing as defined by Philip Kotler “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a

profit. Marketing identifies unfulfilled needs and desires. It defines measures and quantifies the size of the identified market

and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the

appropriate products and services.”

About Philip Kotler An American author, consultant and professor, Philip Kotler is one of the most renowned names in the field of marketing. Born

on May 27, 1931 in Chicago, Illinois, he studied under three legendary American economists and Nobel Laureates namely, Paul

Samuelson, Milton Friedman and Robert Solow. He is regarded as the world’s renowned Marketing Guru and as the Father of

Modern Marketing. He has authored several books including best-selling titles like Marketing 3.0: From Products to

Customers to the Human Spirit, Principles of Marketing, Ten Deadly Marketing Sins, among others. Currently he is the S.

C. Johnson Distinguished Professor of International Marketing at the Kellogg School of Management at Northwestern

University.

Mission of Marketing according to Philip Kotler

1. To sell all of the company’s products to anyone and everyone.

2. To create products/services that satisfy the unmet needs of target markets.

3. To raise people’s material standard of living and the quality of life.

Characteristics of Marketing It is an economy activity

It is a managerial function

It is a social process

It is customers/consumers-oriented

It is an is an integrated process

It is creative.

It is highly pervasive

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Objectives of Marketing The sole aim is to increase sale of products/services, for more money so as to boost profit. Different businesses use marketing

as a tool for different purposes.

To increase revenue

To improve and maintain brand image

To increase market share

To target a new market or segment

Customer satisfaction

Difference between Marketing & Sales Though marketing and sales overlap slightly as both aim to increase company profits,

there are significant differences between the concepts. Let’s see how…

Marketing Sales

It revolves around needs of consumers It revolves around interests of the seller

It lays emphasis on customer satisfaction It stresses on the product

It fulfils customer wants, through products/ services It fulfils sales volume objectives

It targets the masses or general public It targets individuals or small groups

It generates leads or prospects It convert the leads or prospects into purchases and orders

It has long-term aims of building a brand name, chasing

potential consumers, etc

It has short-term aims of finding the target consumer.

Functions of Marketing

1. Know your market: In other words, market research. This involves collecting and analysing relevant market information

about people’s needs, nature of product, place, and effectiveness of advertisements. This analysis is used to gauge which

product/service has the best opportunities.

2. Planning: A marketing plan is a major pre-requisite to achieve the company’s aims. Be it expansion of the business,

increasing market share, or introducing a new product/service, a marketing plan is must to decide promotional strategies and

processes and predict their impact.

3. Designing the product: The better a product’s design, higher the sales. Aspects like quality, attractiveness, price, ease of

usage and maintenance, durability and reliability, matter a lot to buyers. Consistency in a product’s design is an advantage

for the company.

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4. Branding: Branding plays a pivotal a role in creating company’s identity; it is a combination of words, image, or a symbol

used by a company to give its product/service an individuality factor i.e. to make it stand out among thousand other similar

products. Nike, Amazon, Chanel, etc. are a few well-known brand names.

5. Packaging & Labelling: Packaging of a product is also essential from the customer’s point of view as it protect the product

from external damage. Boxes for shoes, or a packet for biscuits, are some examples. Packaging has to be appealing so as to

draw and hold consumers’ attention. A product’s label placed usually on the package, gives the customer all the information

regarding the item and its producer.

6. Standardisation & Grading: Customers always check for standard and grading of the product, before buying it. It helps to

gauge the standard with respect to size, quality, design, weight, colour, and raw materials used in a product. Products of the

same type and standard are categorised separately and this process is called grading. It helps the customer to choose the bes

thereby making sale-purchase easy.

7. Pricing: This is an important function of the marketing process. While an ‘optimum’ price has to be identified for the

product, it should not be unreasonable as sales heavily depend on this factor.

8. Physical Distribution: Finished goods have to be transported from the place of production

to the place of consumption. To achieve this the company must have easy access to

transport and also warehouse facilities to preserve the goods until needed for

consumption.

9. Customer Service: It is an essential functions as customer satisfaction is critical for the company’s success. Post sale

services, prompt redressal of customer complaints in case of technical and maintenance issues, and several other services.

Types of Marketing

1. Event Marketing: It is a promotional strategy that involves face-to-face contact between companies and potential

customers at special events like concerts, fairs, and sporting events.

2. Niche Marketing: It focuses on one particular section of the market with high potential to connect with a

product/service. For example, sports channels like STAR Sports, ESPN, STAR Cricket, target a niche group of sports

enthusiasts.

3. Online marketing: Also known as internet marketing, it refers to a set of powerful tools and methodologies used to

promote a product through the Internet.

Online Marketing focuses on the following primary business models:

• E-commerce

• Lead-based websites

• Affiliate marketing

• Local search

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Advantages of Online Marketing:

Low costs: Huge audiences can be reached at a fraction of traditional advertising budgets, allowing businesses to

create appealing consumer-centric ads.

Flexibility and convenience: Consumers may research and purchase products as per their convenience.

Analytics: Statistical data can be facilitated without bearing additional costs.

Multiple options: Advertising tools include pay-per-click advertising, email marketing and local search integration

(like Google Maps).

Demographic targeting: Consumers can be demographically targeted effectively in an online set-up rather than an offline

process.

Marketing Myopia Coined by American economist Theodore Levitt, Marketing Myopia advocates that businesses will be more successful if

their focus is on meeting customers’ needs rather than on selling products. Levitt used the term as the title for a

marketing paper he penned in 1960 for the Harvard Business Review of which he was an editor.

Marketing Environment

It is a combination of factors that decide a firm’s ability to build and maintain successful relationships with customers. Internal

and external environment are key components of the same:

1. Internal Environment: Quite simply, it refers to activities within the company that directly affect the marketing operation.

HR department, accounts department, R & D department, IT, are some of the functional areas that impact marketing.

2. External Environment: These include factors that lie outside of the company. It is subdivided into micro and macro:

(i) Micro environment: This includes individuals and organisations close to the company and directly impacting

customer experience. For example – the company and its employees, its suppliers, competitors, general public, etc.

(ii) Macro environment: This is the larger that is less controllable, including forces like demography, economic,

technological, political, social and cultural forces, etc.

PEST Analysis–It is a business measurement tool to scan the framework of macro environmental factors of a company

PEST is an acronym for:

1. Political factors comprising tax policy, labor and environmental law, trade restrictions, tariffs, and political stability.

2. Economic factors include economic growth, interest and exchange rates and the inflation rate.

3. Social factors extend to health consciousness, rate of population growth, age distribution, career attitudes, safety and

cultural aspects.

4. Technological factors include R&D activity, inventions, developments in ICT, monetary allocations for research, among

others.

The PEST framework has been extended many times over the years with the present acronym, STEER considering Socio-

cultural, Technological, Economic, Ecological and Regulatory factors.

SWOT Analysis- This helps the company to develop a strong business strategy. It is very useful to understand the strengths

and weaknesses, as well as the opportunities and threats that the company faces in the market.

Strengths and Weaknesses are internal factors that the organisation has control over. For instance, USP, superior

product design and variety are strengths, whereas over-pricing and lack of innovation are weaknesses.

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Opportunities and Threats are external factors, i.e. they are beyond the direct control of an organisation. Festival

season is an opportunity to maximise sales, whereas increase in market share of a competitor is a threat to a business.

Marketing Mix Marketing Mix is one of the most important concepts in marketing. It is a tool used by the marketeers to attract consumers and

enhance sales.

4Ps of Marketing – It is the combination of four elements - product, price, promotion and place. Companies add, eliminate or

modify this framework to suit their marketing strategy.

1. Product: This can either be tangible goods i.e. those with a physical form like

cars, shoes, umbrellas, etc. Intangible goods lack physical form and consist of

services like insurance, consulting, plumbing, repair services, etc. Products can

also be classified as durable goods i.e. those with a long shelf life, like:

furniture, jewellery, etc. Non-durable goods are usable for a short time period.

Examples include: vegetables, flowers, milk, etc. From a marketing point of

view, features like design, size and shape, quality and longevity, warranty affect

sale of the product.

2. Price: Every product is made at a cost and this is paid by the consumer. Price of

any good/service is inclusive of manufacturing and labour costs, service charges,

transportation costs, among others.

3. Promotion: This includes processes used to raising awareness about a brand in

a way that it generates more sales. Promotion includes aspects like: advertising,

publicity and public relations, social media marketing, allocation of budgets for

the same.

4. Place: Place is the location where the product/service is will actually be

available. This includes decisions about distributors, wholesalers and

retailers. Launching effective channels of distribution, management of

inventory, processing of orders are some crucial factors crucial to increase sales

and satisfy customers.

7 Ps of Marketing – To supplement the 4P model and deal with market challenges,

experts developed 7Ps of marketing. Also called the extended marketing mix, it includes 3 additional concepts, namely:

5. Physical Evidence: It is proof of delivery of products or a service so requested.

6. People: This includes employees at various levels who deliver the product/service.

7. Processes: These are methods through which a service is executed and delivered to the customer.

4 Cs of Marketing –The four C’s philosophy was developed in 1993 by Robert Lauterborn, an influential figure in the field of

and advertising. Though it is very similar to the 4Ps of Marketing, it reflects a more customer-centric approach.

1. Consumer replaces Product: The focus is on consumer satisfaction. The product is designed and produced with sole

consideration of the requirements of consumers.

2. Cost replaces Price: Price is only one factor in attracting customers. Cost on the other hand considers affordability ad

procuring costs of the consumer, ownership and maintenance costs, among other factors.

3. Communication replaces Promotion: Communication includes advertising, personal selling, public relation, and any

method that can be used for timely, and accurate communication between marketeer and his potential customer.

4. Convenience replaces Place: It stresses on ease of buying, convenience in accessing the product/service and in getting

product information.

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Consumer Behaviour Consumer Behaviour: The aim of marketing is to meet and satisfy target customers. Consumer Behaviour refers to the buying

behavior of consumers and deals with various stages s/he goes through before purchasing goods or services for use.

The study of consumer behaviour explains:

Why and why not a consumer buys a product?

When a consumer buys a product?

How a consumer buys a product?

Various stages in consumers’ decision-making: A consumer passes different stages before deciding to buy a product/service

from the market.

1. Need: This is the first stage, as s/he buys products from the market to fulfill his needs and wants.

2. Information search: This consists of: Internal search & External search.

a. Internal search: It depends on the consumer’s past experience. For example: Deciding whether to have food from the

same Indian restaurant you went to last month.

b. External search: When consumer needs more information about product/services s/he consults friends, relatives,

about the product. For example: Your relative recommends you to go for Pizza Hut instead of Smokin’ Joe’s for pizza.

3. Evaluation of Alternatives: This is when consumers evaluate the merits and demerits of a product before deciding on it. It

helps him to choose the best alternative.

4. Purchase decision: In this stage, consumer finally decides what to buy and from where. It includes product, package, store,

method of purchase etc.

5. Post Purchase decision: A customer analyses his purchase and decides whether he is satisfied with the product, its quality

and whether it has fulfilled his need or not.

Importance of Consumer Behavior: To survive in the market, a company should evaluate the consumer behaviour from time

to time. It is important for the marketeers due to the following reasons:-

1. Production policies: It helps the company improve its products according to the habits, tastes and preferences of

consumers.

2. Price policies: It is good to consider consumers’ buying patterns before fixing the price of the products as consumer

behaviour affects the price policies of the firm to a great extent.

3. Distribution policies: This the company supply or distribute the products, through channels of distribution most suited to

the consumers. This enables availability of products at right time and place.

4. Sale promotion policies: It helps the company get a feel of the buying motives of consumers. Product’s form, colour,

labelling, packaging, etc. affects consumers’ purchase decisions.

Terms related to Consumer Behaviour:

1. Negative demand: When consumers dislike a product or service and may even pay to avoid the same.

2. Impulse buying: It is an unplanned decision to buy a product/service; made just few moments before purchase.

3. Buyer resistance: It is to denote a buyer who hesitates to buy a product. It can be overcome by cordial relations between

buyer and seller.

4. Reference group: It refers to a group of satisfied consumers.

5. Target group: It is a group of consumers to whom a company aims to sell its products/services.

Customer Relationship Management (CRM): It is a term that refers to the activities, plans and technologies that

companies employ to collect and study customer interactions. This is done to improve business relationships with customers,

increase customer retention and sales.

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Market

Segmentation

The division of a market into homogeneous sets of consumers is known as market segmentation. It helps to segregate the

market into smaller subsets of consumers with a similar taste, demand and preference.

Objectives of Market Segmentation: The main objective is to define the consumer segments – based on their attitudes,

purchasing patterns and their background– that best match what you are selling (good/service). Objectives should be SMART:

Specific

Measurable

Achievable

Result-oriented

Time-bound

Consumer Market Segmentation: Consumer market can be segmented based on the following:

1. Geography: It refers to the classification of market based on geographical boundaries such as nations, states, regions,

district, cities, population density, climate, etc.

2. Demography: It is based on variables like age, gender, income, occupation, nationality, education, religion, social class,

etc.

3. Psychograph: It refers to the classification of market on variables such as lifestyle, attitude, interest, value, activities, etc.

4. Behaviour: This depends on customer loyalty and behaviour towards a particular brand. Variables such as brand loyalty,

usage rate, price sensitivity and benefits matter.

Requirements for Market Segmentation:

1. Measurability: It is important to be able identify and measure the purchasing power and characteristics of customers in a

specific segment.

2. Divisibility: The market segment should be differentiable, clearly separated into homogenous groups, so that the products

and marketing tools used, do not coincide.

3. Accessible: The target audience should be within easy reach. It is also about communicating with the audience with an

medium they respond to be it outdoor marketing, internet campaigns or TV commercials.

4. Substantial: The target segments should be significant in size, both in terms of customers and profit potential. Size

justifies the cost of creating and developing a sound marketing strategy.

Advantages and Disadvantages of Market Segmentation:

Advantages:

- Enhances brand loyalty

- Increases customer retention

- Increases profitability

- Enriches communication

- Increases competition

Disadvantages:

- Costs of finding out who to target

- Increase in costs to develop product variants, advertising,

and marketing.

- Management of huge inventory.

- Consumer backlash

- Limits general popularity

Marketing Management & Planning According to Philip Kotler, “Marketing management is the analysis, planning, implementation and control of programmes

designed to bring about desired exchanges with target markets for the purpose of achieving organisational objectives.

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Marketing management helps and boost the activities, which are involved in the distribution of goods and services.

Objective of Marketing Management:

1. To ensure maximum results with minimum efforts.

2. To formulate marketing plans based on forecast of sales.

3. To encourage healthy competition within the organisation.

4. Increasing efficiency of employees.

5. To increase revenue and profits.

6. To target new markets.

7. To increase market share.

Product Life Cycle (PLC) –

Product life cycle (PLC) is the cycle wherein every product goes through a sequence of stages; from introduction to growth,

maturity and decline. These stages are known as product life cycle.

Stages of PLC:

1. Introduction: It is the stage when the product is introduced into the market. During this there is heavy marketing activity,

and product promotion. Further, the product is made available in a few channels for distribution. Sales is slow in this stage

and the focus is on increasing awareness, not profits.

2. Growth: In this stage, sales take-off, the target audience knows of the product, other companies are attracted, profits begin

to flow in and market share stabilises.

3. Maturity: In this stage sales grow at slow rates and finally stabilise. Products get differentiated, price wars and sales

promotion become common and weaker players exit the scene.

4. Decline: In this stage sales drop, as consumers may have changed or the product is no longer relevant or useful. Price wars

continue, several products are withdrawn and cost control becomes the way out for most companies.

Product Development Steps: It is the complete process of bringing a new product into the market.

1. Brainstorming: The first step is to generate a unique idea for the product. It can be obtained from basic research using

a SWOT analysis. All the ideas for a new product are listed. Ideally, employees, especially those who deal with customers

regularly, are asked for ideas. Customers’ feedback on existing products is considered. Industry analysis is done to see

whether there are areas without useful products.

2. Idea Screening: This step is useful to filter out the not-so-good ideas and pick the best ones that suit the product’s identity.

Pros and cons about the ideas are discussed before devoting resources.

3. Idea Development and Testing: It is the step during which a company seeks feedback from customers, employees and

partners. This is to know which ideas are most useful and valuable.

4. Business Analysis: The objective of this step is to analyse, whether the product is likely to be profitable or not, when

produced. Demand for the product is examined, costs affiliated with the product are estimated, such as development costs

and operational costs. This helps to determine profit margin.

5. Product Development: A sample of the product is developed to test a concept or procedure. The prototype is shared with

the consumers and key partners, to gauge their response and reaction.

6. Market Testing: If the prototype of the product satisfies all the parameters, then it is released in selected areas, in order to

evaluate whether the product sells, whether sales are high or low. The price and effectiveness of the marketing messages

are examined and improvements are brought about.

7. Prepare for Launch: If market testing shows promising results, the product is ready to be introduced in the market. Based

on your market testing and demand for the product, amount of production is decided. Advertising begins and distributors

are apprised about orders.

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Channels of Distribution: Distribution channels are routes or pathways through which goods or services reach the

consumer from the primary producer. It bridges the gap between producers and

consumers.

Importance of Distribution Channels:

1. Communication: It enables better communication between the producers and

consumer. Producers can guide consumers about their products, usage, price,

promotion etc. through the channel members. They can also get information about

customers and competitors.

2. Employment: Channels create employment opportunities as man power is

essential for supply of products to consumers. It involve thousands of distributors,

agents, wholesalers, retailers, brokers etc. and thus many people get jobs.

3. Standard of Living: It improves the living standards of consumers, by

employment creation that results in increased income.

Types of Distribution Channels:

Manufacturers and consumers are two major components of the market. Intermediaries

help to eliminate distance between the two. Various channels used for distribution can

be describes as:

(A) Direct Channel or Zero-Level Channels: Also called direct selling, when the manufacturer sells the product directly to

the consumer, instead of selling to immediate sellers, it is called direct or zero level channel. For example: Retail outlets, mail

order selling, internet selling.

Manufacturer Consumer

(B) Indirect Channels: When the manufacturer sells goods to the customer through one or more middlemen, it is called

indirect channel.

Following are the main types of Indirect Channel:

1. One-Level Channel: When products are sold directly to the retailer, and not to agents or wholesalers. This method is used

for Fast Moving Consumer Goods (FMCG), expensive watches and similar products.

Manufacturer Retailer Consumer

2. Two-Level Channels: When the manufacturer sells goods to a wholesaler and the latter sells it to the retailer and the

retailer to the consumer, it is called two-level channel. In this process, the wholesaler after purchasing the goods in huge

quantity from the manufacturer sells it in a small quantity to the retailer. This is then made available to consumers. This

medium is mainly used to sell soap, tea, salt, cigarette, sugar, ghee etc. This channel is more clarified in the following

diagram:

Manufacturer Wholesaler Retailer Consumer

3. Three-Level Channels: In this, one more level is added in the form of agent. His role is to reduce distance between the

manufacturer and the wholesaler. Big companies who cannot directly contact the wholesaler, take help of agents. Such

companies appoint agents in every region and sell the goods to them. Then the agents sell them to the wholesalers, who

then sell to retailers. In the end retailer sells them to the consumers.

Manufacturer Agent Manufacturer Retailer Consumer

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Marketing Middleman – Middleman are intermediaries, directly involved in the purchase and sale of goods/services and

deliver of the same to the consumers when and where they want them. They buy from a manufacturer and sell them to a retailer.

A retailer is also an example of a middleman, as is a real estate agent.

Types of Marketing Middleman –

1. Agent Middlemen -Also known as Functional Middlemen or Mercantile Agents, their role is to assist in transfer of the title

of goods without taking any title to them. They act as an agent for the owner of goods and take payment in the form of

commission or brokerage.

2. Merchant Middlemen: Merchant Middlemen include wholesalers, retailers etc. They take the title of goods, bear the risks,

perform marketing functions and hope to make profits on transactions.

Pricing: Price is the monetary value attached to a product/service and that is to be paid by buyers. This is what generates revenue and

ultimately profit. Marketing Guru Philip Kotler, accurately identifies that while all the components of the marketing mix

generate costs, price is what leads to gain.

Importance of Pricing:

It establishes the demand of a product.

It regulates the competition in the market

It determines revenue and profit for the company.

It may boost or lower sales.

Factors Affecting Pricing Decisions:

1. Internal Factors: This includes objectives of the company, production and distribution costs.

2. External Factors: This includes demand of a product, customers, competitors, government control, economic conditions

in the country, etc.

Advertising Advertising comprises strategies and activities carried out to promote sale of commercial products/services even before a

product is launched. It aims at increasing sales.

Five M’s of Advertising:

1. Mission -What’s the mission of your advertising campaign?

2. Money–How much money can be spent? (Advertising budget)

3. Message – What message has to be delivered?

4. Media – Which media or channels should be used?

5. Measurement – Analysing effects of your marketing and studying whether a message strengthens or weakens marketing?

Characteristics of Advertising:

1. Maximum Reach – Using mediums and tools that helps to reach a wide audience who are potential customers.

2. Economical –Money spent on advertisements should prove economical and ensure that messages spread generate more

demand and sales.

3. Attract Customers – One of the most important aims is to draw and maintain the attention of as many customers as

possible every time.

4. Be Persuasive – Advertising should convince people that need to use a particular product or service. It should be

persuasive enough to coax the customer to try using the product advertised.

5. Truth–Advertisement should not exaggerate the merits of a product but only convey what is true. Wrong, irrelevant or

falsely positive image created discourages purchase.

6. Adhere to Ethics–Advertisements should not hurt social, cultural, religious sentiments as this may cause people to take an

anti-stance against the product or the company. Ethical standards should always be followed.

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Mediums of Advertising: Selection of media for advertising is done keeping in mind the nature of the product/service, in a

way that the message reaches maximum number of people.

Major types of mediums are:

1. Print Advertising – This includes newspapers and magazines.

2. Broadcast Advertising: This includes radio, television and the Internet.

3. Outdoor Advertising: This includes banners, hoardings, posters, billboards, bus and train advertising, etc.

Note: Surrogate advertising is a form of advertising used to market banned products, like cigarettes and alcohol, in the guise

of another product. Advertising of banned products is done indirectly with another product of the same brand name, so that

whenever the brand is mentioned, people start associating it with its main product (alcohol or cigarette, for instance). Direct

advertisements for liquor and cigarettes have been banned in since 1995.

Sales Promotion It refers to marketing activities undertaken to boost sales of the product/service. The objectives of sales promotion is to

increase sales, attract new customers, create a product identity, come up with new product variants and inform buyers of the

same and rise to challenges and competition.

Branding As we have already seen the meaning of branding (refer to Functions of Marketing section), we will now understand the various

elements of branding.

Elements of Branding: Brand includes various elements like - brand names, trade names, brand marks, trade-marks, and trade

characters. The combination of these elements forms a firm's corporate symbol or name.

1. Brand Name – Also called Product Brand, it can be a word or group of words, letters, or numbers to represent a product or

service. For example –Pepsi, iPhone 5, etc. A good brand name should be easy to

recollect, unique and apt for the product.

2. Trade Name - It is also called Corporate Brand. It identifies and promotes a firm or

a division of a particular corporation. For example - Dell, Nike, Google, etc.

3. Brand Mark - It is a unique symbol, lettering or any other design element. It is

visually recognisable, not necessarily pronounceable. For example- the apple

symbol of Apple, or Coca-Cola's cursive typeface.

4. Trade Mark - It is a word, name, symbol, or combination of these elements. Trade

mark is legally protected by the government. For example – CNBC’s colourful

peacock, or Frooti’s uniquely shaped mangoes. No other company can reproduce a

company’s trade mark.

5. Trade Characters – Animals or birds, people, animated characters, objects, et al

are used to advertise a product or service. They come to be associated with the

particular product or service, which includes mascots, celebrity spokespersons, or

fictional characters developed for the advertising narrative.

6. Logo: A logo is a symbol or graphic mark used to identify a company, products or

brand.

Brand Equity

Brand equity is the value of a brand in the market. A high equity brand has high value,

as it is common belief that a product with a well-known name is better than lesser-

known products.

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Managing Multiple Brands:

1. Single brand identity - A separate brand for each product/service. Each product is promoted as a separate entity. For

ex – Rin, Tide is a single brand entity, used for detergent soaps. HTC is a brand name known for mobiles phones and

tablets.

2. Umbrella branding – Also called a family brand, it is when a company advertises or launches different products under

same brand name. Different products have different brand images and are clubbed under one major name. For example

– Sony, LG, offers many different products, under its brand name like – mobile phones, washing machine, television,

etc.

3. Multi – brand categories –The marketing of more than two or more brands, belonging to the same or related category

is called multi-branding. For example – Apple launch i-Phone under different categories like – i-Phone (6), i-Phone (5)

etc.

Product Mix & Product Line: 1. Product Mix –It is the totality of products a firm sells. For example: Samsung's product mix includes mobile phones,

netbooks, tablets, televisions, fridges, microwaves, printers and memory cards. Firms should select their product mix with a

view of generating profits from each of the products launched.

2. Product Line: It is a group of products closely related to each other, manufactured by the same company. For example:

Cadbury launches different categories of chocolates like- Dairy Milk Shots, Dairy Milk Silk, Dairy Milk Fruit & Nut, etc.

3. Product Line Extension: It is the use of an established brand name for a new item in the same product category. If there

are too many products in a product line, they will begin to compete with each other, increase costs and ultimately befuddle

customers. For example: Apple Company launches i – Phone (6) under different categories like – i-Phone 6s, – i-Phone 6

plus, etc.

Marketing Research Marketing research is an organised and objective search for, and study of information that will help to identify problems and its

solutions in the field of marketing. The information so collected is useful to make product related decisions.

Benefits of Marketing Research:

It helps to solve marketing problems quickly, correctly and systematically.

It helps the company to formulate production and marketing policies.

It helps to glean information on consumers and competitors.

It helps the company to decide what kind of new products should be developed and introduced in the market.

It reduces the gap between producers and consumers.

Monopoly Derived from Greek words ‘mono’ meaning ‘single’ and ‘poly’ meaning ‘seller’, monopoly is a market structure wherein an

individual or a firm is the only supplier of a particular commodity. The product/service generally has no close substitutes.

Features of the monopoly market:

Only one seller in the market.

No competitors

Firms are price makers as each firm makes independent decisions about product price

There are many buyers in the market

Products may be of inferior quality

Consumers do not have all the information about product or the firm.

Oligopoly This term is derived from two Greek words: ‘oligo’ meaning ‘few’ and ‘poly’ meaning ‘seller’. It is a market condition in

which there are few sellers of a certain product or service.

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For example-In India, markets for automobiles, cement, steel, aluminium, etc, oligopolistic in nature. In all these markets, there

are few firms for each product.

Features of oligopoly market:

Large number of potential buyers but only a few sellers

Differentiated products

Barriers to entry occur when there is a high amount of competition in one market.

Firms are independent in making decision

Monopsony: A market situation in which there is only one buyer and many sellers.

Abraham Maslow's Motivation Theory Abraham Maslow's Motivation Theory - Abraham Harold Maslow was an American psychologist best known for creating

Maslow's hierarchy of needs. He stressed on the importance of focusing people’s positive traits. He developed his famous

theory of hierarchy of needs in the 1940’s. According to the theory, people have various needs during their lifetime in varying

order of priority. In other words, first they wish to address their most basic needs. Only after this do they move on to satisfy

other higher-level needs. Maslow further claimed that as more and more of a person’s higher level needs are met, his sense of

well-being increases.

The hierarchy of needs is represented by a triangle wherein the bottom-most level represents basic needs. As we go up the

triangle, higher level needs are represented.

The Maslow motivation theory comprises the following:

1. Physiological needs – These are the basic need including hunger, thirst, sleep, etc.

2. Safety needs – This is the level immediately above physiological needs. Examples include need for security, protection

from danger and freedom from pain.

3. Social needs – This is the third level of needs and is sometimes referred to as “love needs”. Friendship, giving and

receiving love, engaging in social activities and group membership are some examples.

4. Esteem needs – This is the second-highest level of needs. Such needs include not only self-respect but also respect for

others. Examples of this type of need are the desire for self-confidence and achievement, and recognition and appreciation.

5. Self-actualisation – This is the highest level of need and includes the desire to develop and realise your full potential i.e.

become everything you can be.

Supply & Demand

In economic theory, the law of supply and demand is considered to be one of the fundamental principles governing an

economy. It is described as the state where with increase in supply, the price will tend to drop or vice versa, and as demand

increases the price will tend to increase or vice versa. ‘Supply’ is the amount of goods a market can produce, while ‘demand’

refers to the amount of goods consumers are willing to buy.

Equilibrium: When supply and demand are in balance, the economy is said to be in equilibrium between price and quantity.

Market Equilibrium: A market situation when the price is such that the quantity

demanded by consumers is correctly balanced by the quantity that firms wish to

supply.

The four basic laws of supply and demand are:

1. If demand increases and supply remains unchanged, a shortage occurs, leading to a higher equilibrium price.

2. If demand decreases and supply remains unchanged, a surplus occurs, leading to a lower equilibrium price.

3. If demand remains unchanged and supply increases, a surplus occurs, leading to a lower equilibrium price.

4. If demand remains unchanged and supply decreases, a shortage occurs, leading to a higher equilibrium price.

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Key Terms

1. AIDA – Attention, Interest, Desire, Action

2. Lead: A lead may be characterised as – a buyer, potential consumer or buyer, a target customer.

3. Blue – Ocean strategies – It refers to the creation of a new, uncontested market space that makes competitors irrelevant

thereby creating new consumer value often while decreasing costs. It was introduced by W. Chan Kim and Renée

Mauborgne in their best-selling book of the same name. In this, demand is created and not fought over. There is huge

opportunity for growth that is profitable and fast.

4. B2B or Business to Business – It refers to a company that sells goods or services to other businesses.

5. Cross – Selling - Practice of selling an additional product or service to an existing customer.

6. Data Mining – The analytical process of finding new and potentially useful knowledge from data.

7. Double win strategies: Double-win strategy refers to the use of win-win approach wherein salesperson and customers are

personally and professionally satisfied with the outcome of a transaction.

8. Unique Selling Proposition (USP) – It is the factor that differentiates a product from several other similar products.

Unique characteristics of a product created to suit the needs of potential customers. For example - Google’s USP lies in

providing exact and quality information to its users quickly.

9. Non – Profit marketing: Aids awareness campaign is an example of non – profit marketing. Social awareness or benefits

are the aims and not profit -making.

10. Product mix means various products designed by the company.

11. Customisation: Designing customer specific products, personalised to their tastes and preferences.

12. Bancassurance: Refers to the selling of life assurance and other insurance products and services by banking institutions.

13. Cold calls: When the salesperson contacts customer, who have not expressed an interest in the products or services offered.

An unexpected telephone call or visit by someone trying to sell a product.

14. Guerrilla marketing: It is an advertising strategy that focuses on low-cost unusual marketing tactics that give maximum

results. The term was coined by Jay Conrad Levinson in his 1984 book ‘Guerrilla Advertising’. It is often ideal for small

businesses that need to reach a large audience without bearing huge costs. It also is used by big companies in grassroots

campaigns to complement on-going mass media campaigns.

15. Brown goods – These are light electronic consumer durables such as TVs, radio, digital media players, and computers.

16. White goods - Heavy consumer durables such as air conditioners, refrigerators, stoves.

17. High Networth Individual (HNI)- A person with a high net worth.

18. Social advertising - Advertising designed to educate or motivate target audiences to undertake social welfare activities.

19. Pull Strategy – This involves motivating customers to seek out brands in an active process.

Some Marketing questions, asked in previous year in SBI PO, SBI Clerk, SBI Associate PO & SBI

Associate Clerk Exams.

1. Marketing is:

(1) consumer oriented

(2) competitors oriented

(3) producer oriented

(4) Both 1 & 2

(5) Both 2 & 3 Ans (4)

2. Proper marketing requires:

(1) planning

(2) sympathy

(3) knowledge of products

(4) Both 1 & 2

(5) Both 1 & 3 Ans (5)

3. In marketing, it is necessary to identify:

(1) potential sellers

(2) potential products and services

(3) existing and potential customers

(4) Both 1 & 2

(5) All of the above Ans (5)

4. Marketing is influenced by:

(1) product demand

(2) public taste

(3) buyer behaviour

(4) brand image

(5) All of the above Ans (5)

5. The sole aim of marketing is to:

(1) increase sales

(2) increase the number of employees

(3) increase profits

(4) increase production

(5) All of the above Ans (5)

6. The ultimate aim of marketing is to provide:

(1) more business to the company

(2) more profit

(3) more staff

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(4) more production

(5) more products Ans (1)

7. Selling process includes:

(1) publicity

(2) lead generation

(3) cross country contracts

(4) product designing

(5) product redesigning Ans (2)

8. Marketing strategy means:

(1) idea for further income

(2) old techniques of sales

(3) ways to improve marketing activities

(4) ways to increase production

(5) networking Ans (3)

9. Product design is a function of:

(1) front office staff

(2) back office staff

(3) management

(4) marketing and research team

(5) loan section Ans (4)

10. Marketing has taken a prominent position during the last

decade due to:

(1) increased competition

(2) better literacy rate

(3) foreign compulsion

(4) government instructions

(5) Reserve Bank of India (RBI) policy guidelines Ans (1)

11. Marketing is definitely required when:

(1) demand exceeds supply

(2) supply exceeds demand

(3) supply equals demand

(4) staff is in excess

(5) there is no monopoly Ans (2)

12. The traditional marketing style involves:

(1) door – to – door campaigns

(2) sending E-mails

(3) telemarketing

(4) SMS campaigns

(5) virtual marketing Ans (1)

13. The task of marketing involves:

(1) opening new branches

(2) buying a company

(3) selling a company

(4) selling products and services of company

(5) mergers Ans (4)

14. Selling is:

(1) same as marketing

(2) more than marketing

(3) offering discounts

(4) a sub – function of marketing

(5) nothing to do with marketing Ans (4)

15. Marketing is a function of:

(1) only sales person

(2) only consumer staff

(3) only qualified person

(4) top bosses

(5) a collective function of all staff Ans (5)

16. The sole aim of marketing is to:

(1) improve the balance sheet figures (2) increase recruitment

(3) increase profits (4) increase production

(5) increase branch network Ans (3)

17. ‘Cross selling’ means:

(1) selling to enemies (2) selling new products

(3) reversal of a sale (4) selling other products to existing customers

(5) public relations Ans (4)

18. Marketing opportunities means:

(1) availability of sales persons

(2) availability of data

(3) launching a new product

(4) scope for marketing

(5) evaluation of performance Ans (4)

19. Study of marketing means:

(1) study of economic, political, cultural and technical environment

(2) study of the company’s markets potentials and competition

(3) studying of current developing needs

(4) study of employee’s potential

(5) study of sales person’s potential Ans (1)

20. SWOT analysis is the analysis of:

(1) Strengths, weaknesses, occupation and threats

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(2) Strengths, weaknesses, opportunities and threats

(3) Sales, weaknesses, occupation and threats

(4) Strengths, weaknesses, occupation and tests

(5) None of the above Ans (2)

21. Which of the following is least likely to be associated with a firm’s macro – environment?

(1) Study of the changing birth rate

(2) Analysis of household saving ratios

(3) A new staff incentive scheme

(4) Cultural convergence

(5) None of the above Ans (3)

22. Situation analysis is useful for:

(1) SWOT analysis

(2) Analysis of sales person’s performance

(3) Analysis of capital markets

(4) All of the above

(5) None of the above Ans (4)

23. Good competition helps in:

(1) better technology (2) more market share

(3) rise in profits (4) bigger branch networks

(5) improved customer service Ans (5)

24. Marketing opportunities means:

(1) role of marketing (2) proper and effective training

(3) market planning (4) availability of sales outlets

(5) market data Ans (1)

25. Market space means:

(1) place where goods are sold (2) trade fairs and meals

(3) road shows (4) scope available for selling

(5) competition Ans (4)

26. Market information means:

(1) knowledge of DSAs (2) information about marketing staffs

(3) information regarding share markets (4) knowledge of related markets

(5) latest knowledge about technology progress

Ans (4)

27. The internal marketing environment includes:

(1) the human resource departments (2) the operation department

(3) the accounting and finance department (4) the research and development department

(5) All of the above Ans (5)

28. 4Ps of marketing means:

(1) primary marketing techniques (2) person, place, product and promotion

(3) promoting authority (4) purpose, place, passion and product

(5) product, price, place and promotion Ans (5)

29. Product mix means:

(1) distributing a mix of products (2) collecting ideas to sell better

(3) satisfying the customers (4) bundle of product required by the customer

(5) various products designed by the company Ans (5)

30. Non – product selling means:

(1) selling variety of products (2) selling only one products

(3) selling seasonal products (4) selling service

(5) All of the above Ans (4)

31. The best promotional tool in any marketing is:

(1) e – promotion (2) public relations

(3) viral marketing (4) word of mouth publicity

(5) advertisement Ans (4)

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32. One of the following is not included in the 4Ps of marketing. Find the same:

(1) product (2) price

(3) production (4) promotion

(5) None of these Ans (3)

33. Customisation is useful for:

(1) designing customer specific products (2) call centres

(3) public relation (4) motivating the staff

(5) None of the above Ans (1)

34. One of the following is not included in the 7Ps of marketing. Find the same:

(1) product (2) price

(3) production (4) promotion

(5) people Ans (3)

35. The best promotional tool in any marketing is:

(1) pamphlets (2) newsletters

(3) word of mouth publicity (4) regional advertisements

(5) viral marketing Ans (3)

36. A prospect means:

(1) any customer who walks into the bank

(2) an employee of the bank

(3) a customer who is likely to be interested in a bank’s product and service

(4) a depositor of the bank

(5) a borrower of the bank Ans (3)

37. Target groups means:

(1) all employees (2) short – listed group

(3) all the marketing staff (4) sales representatives

(5) group of people likely to buy the identified product Ans (5)

38. The target group for tractor loan is:

(1) cold storage plant (2) farmers with large land holding

(3) farm labourers (4) agricultural colleges

(5) vegetables vendors Ans (2)

39. The target group for home loan is:

(1) individuals (2) salaried persons

(3) businessman (4) professionals

(5) All of these Ans (5)

40. The target group for car loan is:

(1) all high income individuals (2) all car dealers

(3) all students (4) all PPL persons

(5) bridal persons Ans (1)

41. A situation in which consumer purchases are unplanned:

(1) latent demand (2) impulse buying

(3) irregular demand (4) unwholesome laying

(5) None of these Ans (2)

42. Customer’s relationship with the bank is influenced by:

(1) customer attitudes (2) attitudes of bank staff

(3) interest rates of the bank (4) attitude of sales person

(5) All of the above Ans (2)

43. Which of the following best describes the term “negative demand”?

(1) Consumer begin to buy the product less frequently

(2) Consumers do not buy all product

(3) Consumers are unaware uninterested in a product

(4) Consumers purchases vary on a seasonal basis

(5) Consumers dislike a product and may even pay to avoid it Ans (5)

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44. Buyer resistance can be overcome by:

(1) cordial relation between buyer and seller (2) good negotiation

(3) persuasive communication (4) good after sales service

(5) Al of the above Ans (5)

45. Marketing segmentation is useful for:

(1) preferential marketing (2) targeting existing clients

(3) identifying prospects (4) knowing customer’s tastes

(5) All of the above Ans (5)

46. Marketing segmentation is required:

(1) for avoiding cold calls (2) to increase production

(3) for territory allocation (4) for focused marketing

(5) for increasing profits Ans (5)

47. Market segmentation helps in:

(1) identifying the target group (2) focused marketing

(3) improved lead generation (4) Both 1 & 2

(5) All of the above Ans (5)

48. One of the following is a target group for the marketing of Internet banking:

(1) all the customers (2) all the educated customers

(3) all the computer educated customers (4) only creditors

(5) All of the above Ans (3)

49. The target group for credit card is:

(1) all card holders (2) all existing borrowers

(3) individuals with taxable income (4) All of the above

(5) None of the above Ans (3)

50. Marketing segmentation involves:

(1) dividing the salesman into homogenous groups

(2) dividing the employees into talent groups

(3) dividing the products

(4) measuring the service level

(5) None of the above Ans (5)

51. Market segmentation can be resorted by way of:

(1) segmentation geographically

(2) segmenting by income

(3) segmenting by age

(4) Both 1 & 2

(5) All of the above Ans (5)

52. Market segmentation is useful for:

(1) target existing clients

(2) identifying prospects

(3) preferential marketing

(4) internal marketing

(5) All of the above Ans (3)

53. Market segmentation means:

(1) segmentation of sales team

(2) distribution of territory

(3) sales network

(4) division of market according to the requirement

(5) market share Ans (2)

54. Target market for education loan is:

(1) all school students (2) all college students

(3) all colleges (4) all schools

(5) all hospitals Ans (3)

55. Target group means:

(1) all buyers (2) all salesperson

(3) prospective buyers (4) all customers

(5) delivery persons Ans (3)

56. Which one of the following is not a target group for

savings bank account?

(1) salaried person

(2) Loss incurring companies

(3) Doctors

(4) Government servants

(5) Insurance agents Ans (2)

57. Target market for housing loans will be:

(1) existing clients (2) persons who do not

own a house

(3) persons who own more than one house

(4) builders (5) NRI’s Ans (2)

58. The target group of personal loans is:

(1) all private limited companies

(2) all businessman (3) all salaried person

(4) minor children (5) new-born infants Ans

(3)

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59. The segmentation of market based on the gernder of the

customer is a type of:

(1) geographic segmentation

(2) demographic segmentation

(3) psychographic segmentation

(4) life style segmentation

(5) price segmentation Ans (2)

60. Customisation results in:

(1) customer exist

(2) customer retention

(3) customer complaints

(4) customer balance sheet figures

(5) better technology Ans (2)

61. Market segmentation can be resorted to by dividing the

target group as per

(1) income levels of customers

(2) age of the employees

(3) needs of the sales persons

(4) marketing skills of the employees

(5) size of the organisation Ans (1)

62. Which of the following feature of good forecasting mode?

(1) Accuracy (2) Simplicity

(3) Economy (4) Availability

(5) All of these Ans (5)

63. Market plan is a:

(1) selling process

(2) year – end – budget

(3) calendar

(4) business document for marketing strategies

(5) All of the above Ans (4)

64. Good marketing strategy envisages good and proper:

(1) product distribution

(2) networking of branches

(3) high pricing

(4) placement of counter staff

(5) relationship management Ans (5)

65. Sales forecasting involves:

(1) proper selling prices

(2) sales planning

(3) distribution outlets

(4) consumer needs and demands

(5) All of the above Ans (5)

66. ‘Benchmark means’

(1) sales performance measurement

(2) marks given to sales persons

(3) appraisal

(4) standard values for comparison

(5) autantion Ans (4)

67. Market share means:

(1) share capital of the company

(2) staff strength of the company

(3) employees stock option

(4) share price quoted in the market

(5) percentage share of business of company as compared

to peers Ans (5)

68. Market share can be increase by increasing:

(1) raw material cost

(2) the staff strength

(3) the sales

(4) the sales staff

(5) competition Ans (3)

69. Market size also means:

(1) market planning

(2) market pricing

(3) market space

(4) market distribution

(5) market channel Ans (4)

70. A fall in the market share implies

(1) sales have gone up

(2) profit has gone up

(3) prices are erratic

(4) competition has increased

(5) business is wound up Ans (4)

71. In the case of such goods where consumers normally

compares price, quality, delivery, etc. are called:

(1) shopping goods

(2) speciality goods

(3) staple goods

(4) derived demand

(5) luxury goods Ans (1)

72. Which among the following is not the example of

convenience goods?

(1) Tea (2) Coffee

(3) Soap (4) Toothpaste

(5) Umbrella in rainy season Ans (5)

73. Electronic goods such as TVs, videos, stereo, systems,

etc. used for home entertainment are known as:

(1) white goods (2) green goods

(3) red goods (4) blue goods

(5) brown goods Ans (5)

74. Direct marketing is necessary for:

(1) having a focused approach marketing

(2) boosting sales

(3) better customer contacts

(4) All of the above

(5) None of the above Ans (4)

75. Direct marketing means:

(1) face to face marketing

(2) fairs

(3) seminars

(4) indoor marketing

(5) online marketing Ans (1)

76. Online marketing is:

(1) same as face to face marketing

(2) easier than traditional marketing

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(3) boring, as customer are not visible

(4) voluminous task

(5) None of the above Ans (2)

77. Telemarketing involves:

(1) good communication skills

(2) high level of motivation

(3) door to door campaigns

(4) event management

(5) All of the above Ans (1)

78. Retail banking means:

(1) retail shopkeepers

(2) bank financing to retail traders

(3) same as universal banking

(4) giving loans to corporates

(5) giving consumer loans to various publics

Ans (2)

79. For online marketing ____ is the most effective means.

(1) saving accounts (2) credit card

(3) housing loans (4) NRI deposits

(5) business accounts Ans (2)

80. Objects of the digital marketing are:

(1) online marketing

(2) cold calling

(3) web designing

(4) anticipating the market

(5) outdoor marketing Ans (1)

81. Setting price of product based on the buyer’s perception

of value rather than on the seller’s cost is known as:

(1) value – based pricing

(2) break even pricing

(3) cost plus pricing

(4) target profit pricing

(5) None of the above Ans (1)

82. Proper pricing is needed for:

(1) extra charges for extra service

(2) levy of VAT

(3) good customer service

(4) putting burden on the customer

(5) service with extra facilities Ans (3)

83. Mass communication with customers or potential

customers usually through paid public media is known as:

(1) publicity (2) sales promotion

(3) advertising (4) public relations

(5) brand building Ans (3)

84. Advertisements are required for:

(1) boosting the production levels

(2) motivating the employees

(3) boosting the sales

(4) All of the above

(5) None of the above Ans (3)

85. Advertisement is a type of:

(1) direct marketing

(2) service marketing

(3) indirect marketing

(4) internet banking

(5) internal marketing Ans (3)

86. In a selling process in today’s world:

(1) only standard products are sold

(2) no customisation required

(3) the seller need not have product knowledge

(4) the seller aim at customer satisfaction

(5) only quantum of sales matter Ans (4)

87. The concept of selling is different from marketing and

aims at profit maximisation through:

(1) increasing sales volume of quality products

(2) customer satisfaction

(3) solution of customer problem

(4) satisfaction of customer needs

(5) innovation and market research Ans (1)

88. ‘Conversion’ in sales language means:

(1) converting a buyer into seller

(2) converting a seller into buyer

(3) converting a prospect into client

(4) All of the above

(5) None of the above Ans (1)

89. Closing the sale means:

(1) close down marketing function

(2) stop selling

(3) successful completion of a call

(4) All of the above

(5) None of the above Ans (3)

90. Good selling skills involve:

(1) patience (2) perseverance

(3) empathy (4) knowledge

(5) All of these Ans (5)

91. Selling is:

(1) different from marketing

(2) a sub – function of marketing

(3) same as marketing

(4) more than marketing

(5) None of the above Ans (2)

92. The performance of salesperson can be enhanced by:

(1) increasing the sales incentive

(2) increasing the number of products to be sold

(3) appropriate training

(4) All of the above

(5) None of the above Ans (4)

93. Effective selling skills depend on:

(1) effective leas generation

(2) sales call planning

(3) territory collection

(4) effective communication skills

(5) All of the above Ans (5)

94. Post – sales activities include:

(1) sales presentation

(2) customer feedback

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(3) customer identification

(4) customer apathy

(5) product design Ans (2)

95. Effective communication skills are not required in

marketing if:

(1) demand exceeds supply

(2) supply exceeds demand

(3) buyer is illiterate

(4) seller is illiterate

(5) None of the above Ans (5)

96. The sales promotion targeted at the retailers and

wholesalers is called:

(1) consumer sales promotion

(2) user sale’s promotion

(3) primary sales promotion

(4) trade sales promotion

(5) territory sales promotion Ans (4)

97. Full form of DSA is:

(1) Delivery Staff Agency

(2) Direct Selling Agent

(3) Direct Supplier Agent

(4) Distribution and Supply Age

(5) Driving Sales Ahead Ans (2)

98. The meaning of ‘conversion’ in terms of sales is:

(1) designing new products

(2) converting purchaser into sellers

(3) converting sellers into purchaser

(4) converting perspective customers into purchasers

(5) conversion of religion Ans (4)

99. Value added services means:

(1) additional cost

(2) additional production

(3) additional staff

(4) additional services

(5) All of the above Ans (4)

100. Good competition helps in:

(1) improved customer service

(2) reduced sales

(3) improved brand image

(4) more market share

(5) better customer profile Ans (1)

101. A company’s ability to perform in one or more ways that

competitors cannot or will not match is known as its:

(1) brand image

(2) brand positioning

(3) competitive advantage

(4) attribute positioning

(5) attribute competition Ans (3)

102. A good brand can be built by way of:

(1) customer grievances

(2) break – down of IT support

(3) old age

(4) large number of products

(5) consistent offering of good services

Ans (5)

103. Which of the following statements is true?

(1) Marketing makes the company to go into loss due to

higher expenses

(2) Marketing is not required in profit – making

companies

(3) Marketing sharpens the mind of the employees

(4) Marketing is a time – bound seasonal function

(5) Marketing is a waste of time Ans (3)

104. Service marketing is the same as:

(1) relationship marketing

(2) transaction marketing

(3) passive marketing

(4) internal marketing

(5) instant marketing Ans (1)

105. The target market of debit card is:

(1) all existing account holders

(2) all agriculturists

(3) all DSAs

(4) all vendors

(5) all outsourced agents Ans (1)

106. The modern marketing concept assets that ‘marketing’

starts with the product idea and ends with:

(1) production of quality product

(2) advertisement campaigns

(3) customer satisfaction

(4) sale of the product

(5) exchange of money Ans (3)

107. A call in marketing means:

(1) to phone the customers

(2) to visit the customers

(3) to visit the marketing site

(4) to call on prospective customer

(5) None of the above Ans (4)

108. Service marketing implies selling of:

(1) only goods

(2) only services

(2) web services

(4) various commodities

(5) goods and services Ans (5)

109. KYC means:

(1) Keep Your Customer Cools

(2) Keep Your Credit Card

(3) Know Your Customers

(4) Know Your Cool

(5) Know Your Credits Ans (3)

110. Customer retention can be ensured by:

(1) offering freebies

(2) offering loans at low rates

(3) catchy slogans

(4) giving incentives

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(5) personalised services Ans (5)

111. Motivating customers to buy upgraded products when

they had intended to buy something of lower value is

known as:

(1) cross selling

(2) forward selling

(3) marketing

(4) channel marketing

(5) upselling Ans (1)

112. EMI is a marketing tool if:

(1) it is very high

(2) it is very low

(3) it is increasing

(4) it is fluctuating

(5) it has no role as a marketing tool Ans (2)

113. Motivating in marketing means:

(1) inspiring sales persons to talk more

(2) inspiring sales persons to sell more

(3) inspiring counter staff to talk more

(4) market size

(5) market place Ans (2)

114. Modern methods of marketing include:

(1) publicity on the net

(2) advertisement on the net

(3) soliciting business through E – mails

(4) telemarketing

(5) All of the above Ans (5)

115. The USP of current account is:

(1) no restrictions of transactions

(2) low TDS

(3) high minimum balance

(4) high interest payable

(5) no need for KYC norms fulfilment Ans (1)

116. The type of Marketing involved in banks is:

(1) transaction marketing

(2) service marketing

(3) commodity marketing

(4) ruthless marketing

(5) indifferent marketing Ans (2)

117. USP in marketing means:

(1) Unique Selling Practices

(2) Uniform Selling Practices

(3) United Sales Persons

(4) Unique Selling Proposition

(5) Useful Sales Person Ans (4)

118. Standard marketing practices include:

(1) poaching

(2) unhealthy competition

(3) lowering the selling price

(4) unhealthy discount schemes

(5) phishing Ans (3)

119. The process of discovering patterns and relationships

using the available customer data to reveal what

customers want and how they act, is known as:

(1) data warehousing

(2) data base

(3) data mining

(4) data building

(5) data matching Ans (4)

120. SME means:

(1) Selling and Marketing Employees

(2) Sales and Mergers of Entities

(3) Small and Micro Entities

(4) Small and Medium Enterprises

(5) Sales Performance Measurement Program

Ans (2)

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