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Marketing Test - 53

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Marketing Test - 53
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Which of the following is a feature of marketing process?
    Solution
    Following are the features of marketing:
    1. Needs and Wants: The process of marketing helps individuals and groups in obtaining what they need and want.
    2.     Creating a Market Offering: Market offering refers to a complete offer for a product or service, having given features, price, location, etc.
    3.     Customer Value: The process of marketing facilitates exchange of products and services between the buyers and the sellers.
    4.     Exchange Mechanism: The process of marketing works through the exchange mechanism. The individuals obtain what they need and want through the process of exchange.
  • Question 2
    1 / -0
    Sanjeev went to a shop and expressed her desire to buy a copper water bottle only of Prestige company. Identify the component related to branding being described in the above case.
    Solution
    That part of  a brand, which can be spoken, is called a brand name. In other words, brand name is the verbal component of a brand. Brand name helps in creating product differentiation, i.e., providing basis for distinguishing the product of a firm with that of the competitor, which in turn, helps in building customers loyalty and in promoting its sale.
  • Question 3
    1 / -0
    In order to enhance the easy marketability of the products, Dev, a producer gets the home furnishing products manufactured in confirmation to the predetermined specifications. Identify the type of marketing function being described in the given case.
    Solution
    Standardization refers to producing goods of predetermined specifications, which helps in achieving uniformity and consistency in the output. It ensures the buyers that goods conform to the predetermined standards of quality, price, and packaging and reduces the need for inspection, testing, and evaluation of the products.
    Hence, B is the correct option.
  • Question 4
    1 / -0
    Drivya Limited is a chain of trusted optical centers for prescription & fashion eyewear. It caters to affluent people with a range of premium sunglasses for men, women and kids. In order to raise the level of buyers satisfaction, the company has decided to create a special section in each of its outlets for handling customer complaints and adjustment requirements. Identify the type of marketing function described in the given lines.
    Solution
    Customer support services, such as after-sales services, handling customer complaints and adjustments, procuring credit services, maintenance services, technical services, and consumer information, aim at providing maximum satisfaction to the customers. These are very effective in bringing repeat sales from the customers and developing brand loyalty for a product.
    Hence, C is the correct option.
  • Question 5
    1 / -0
    Active Limited has launched a new range of air conditioners in order to add value to the usability of the product. The new range of air conditioners have an inbuilt air purifier and are available in attractive colors. Identify the type of marketing philosophy being described in the above lines.
    Solution
    With the increase in the supply of the products, customers start looking for products which are superior in quality, performance and features. The focus of business activity, here, is to bring continuous improvement in the quality, incorporating new features, etc. Thus, product improvement is the key to profit maximisation of a firm, under the concept of product orientation.
    Hence, D is the correct option.
  • Question 6
    1 / -0
    Jagdish is a wholesaler of food grains. He categorises his stock into different groups on the basis of their quality and also fixes up the prices accordingly. Identify the type of marketing function being mentioned in the given line.
    Solution
    Grading is the process of classification of products into different groups, on the basis of some of their important characteristics such as quality, size, etc. Grading is particularly necessary for products that are not produced according to predetermined specifications, such as in the case of agricultural products, say wheat, oranges, etc.
    Hence, A is the correct option.
  • Question 7
    1 / -0
    In order to improve upon its competitive edge, Lalita Limited has change the packaging of its hair care products. They are now available in a consumer friendly design, which has a nozzle attached to the lid so that at the time of usage, the consumer doesnt need to open the cap of the bottle. Name the marketing function being explained in the given lines.
    Solution
    An important marketing activity or decision area relates to product designing and development. The design of the product contributes to making the product attractive to the target customers. A good design can improve the performance of a product and also give it a competitive advantage in the market.
    Hence, D is the correct option.
  • Question 8
    1 / -0
    In order to get feedback about its new product launch, Jaggi Limited conducted an online survey through a short questionnaire. Identify the marketing function being mentioned in the given line.
    Solution
     Gathering and analyzing market information is necessary to identify the needs of the customers and take various decisions for the successful marketing of the products and services. This is important for making an analysis of the available opportunities and threats as well as strengths and weaknesses of the organization and helps in deciding what opportunities can best be pursued by it. For example, rapid growth is predicted in several areas of the Indian economy.
    Hence, D is the correct option.
  • Question 9
    1 / -0
    Ratan had started the business of producing exclusive home decor items under the brand name Elite 15 years back. Over the years, he has diversified into new segments like home furnishing, furniture and kitchenware. However, all the products are being sold under the same brand name Elite, as it appears to be apt for all of them. Identify the relative feature of a good brand name being described in the given case.
    Solution
    In the given case, the feature of a good brand name that is highlighted is - 'The brand name should be sufficiently versatile to accommodate new products, which are added to the product line'. Choosing the right brand name is one of the most important decisions of marketing.
    Hence, A is the correct option.
  • Question 10
    1 / -0
    Following the level of packing is optional, products may have or may not have?
    Solution

    1. Primary Packaging: The packaging that most closely touches a product, often referred to as “retail packaging.”
    2. Secondary Packing: The packaging used to ship products already in primary packaging. Its main goals are to protect products and provide branding during shipping.
    3. Tertiary Packaging: The packaging used most often by warehouses to ship secondary packaging. Its mail goal is to properly protect shipments during their time in transit.
      We can clearly see that packaging is not optional at any level of packing. Hence, correct answer is option D.

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