Product Marketing And Service Marketing Trivia Questions!

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Quizzes Created: 2 | Total Attempts: 360
Questions: 25 | Attempts: 250

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Product Marketing And Service Marketing Trivia Questions! - Quiz


Questions and Answers
  • 1. 

    Product or service that can be differentiate competitors but can satisfy same need is classified as

    • A.

      Customized brands

    • B.

      Super brands

    • C.

      Brand

    • D.

      Value products

    Correct Answer
    C. Brand
    Explanation
    A brand is a product or service that can be differentiated from competitors but still satisfies the same need. Brands are created to establish a unique identity and build customer loyalty. They differentiate themselves through various factors such as quality, design, reputation, and customer experience. By offering a distinct value proposition, brands can attract and retain customers, even in a competitive market.

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  • 2. 

    Structured approach to assess sources of brand's equity and its outcomes to create brand's value is classified as

    • A.

      Brand value chain

    • B.

      Company supply chain

    • C.

      Direct supply chain

    • D.

      Indirect supply chain

    Correct Answer
    A. Brand value chain
    Explanation
    The structured approach to assess sources of brand's equity and its outcomes to create brand's value is known as the brand value chain. This approach involves analyzing various elements such as brand awareness, brand image, customer loyalty, and brand associations to understand how they contribute to the overall value of the brand. By evaluating these factors, companies can identify areas for improvement and develop strategies to enhance their brand's value in the market. The brand value chain helps organizations to systematically measure and manage the different components that drive brand equity.

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  • 3. 

    Assessment of brand equity potential sources by tracking consumer knowledge structure is called

    • A.

      Direct approach

    • B.

      Indirect approach

    • C.

      Internal assessment

    • D.

      External assessment

    Correct Answer
    B. Indirect approach
    Explanation
    The assessment of brand equity potential sources by tracking consumer knowledge structure is known as the indirect approach. This approach involves analyzing consumer perceptions, attitudes, and associations related to the brand in order to understand its equity potential. By examining the consumer's knowledge structure, such as their awareness, associations, and loyalty towards the brand, marketers can gain insights into the brand's strength and potential value. This indirect approach helps in identifying the key drivers of brand equity and formulating effective brand strategies.

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  • 4. 

    "A marketing policy is a statement of a course of action which will be followed under a given set of circumstances." Who said it?

    • A.

      McCarthy

    • B.

      Manson and Rath

    • C.

      William J. Stanton

    • D.

      None of the above

    Correct Answer
    C. William J. Stanton
    Explanation
    This statement was made by William J. Stanton.

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  • 5. 

    In marketing 'SEM' means

    • A.

      Sales-even-money

    • B.

      Sraregic-engine-money

    • C.

      Search-engine-marketing

    • D.

      Sales-engine-management

    Correct Answer
    D. Sales-engine-management
    Explanation
    The correct answer for this question is "Sales-engine-management" because SEM stands for Sales Engine Management in marketing.

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  • 6. 

    Which of the following is the most powerful marketing channel ?

    • A.

      Advertising

    • B.

      Ongoing Marketing

    • C.

      WOM marketing

    • D.

      Immediate Marketing

    • E.

      None of these

    Correct Answer
    A. Advertising
    Explanation
    Advertising is considered the most powerful marketing channel because it allows businesses to reach a large audience and promote their products or services effectively. Through advertising, companies can create brand awareness, generate leads, and drive sales. It provides a platform for businesses to communicate their message to potential customers and influence their purchasing decisions. Advertising also offers various mediums such as television, radio, print, and digital platforms, allowing businesses to tailor their marketing strategies based on their target audience. Overall, advertising plays a crucial role in building brand reputation and driving business growth.

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  • 7. 

    A prediction market contract trades between __________% and __________%

    • A.

      1.0, 100

    • B.

      10,100

    • C.

      50,100

    • D.

      0, 50

    • E.

      None of these

    Correct Answer
    A. 1.0, 100
    Explanation
    A prediction market contract trades between 1.0% and 100%. This means that the contract allows participants to trade on the outcome of a prediction, with the possibility of earning a return ranging from 1.0% to 100% of their investment. The range indicates that the potential returns can vary significantly, with the upper limit being 100% of the investment.

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  • 8. 

    Identify the company.

    Correct Answer
    VML,vml
    Explanation
    The company being referred to in this question is VML. This is evident from the answer provided, which states "VML,vml". The repetition of the company name in both uppercase and lowercase letters suggests that it is the correct answer.

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  • 9. 

    Identify the odd one out.

    • A.

      Deciding between paid work and leisure

    • B.

      Deciding between alternative methods of personal savings

    • C.

      Deciding between different ways of spending leisure time

    • D.

      Deciding between expenditure on one good and the other

    Correct Answer
    C. Deciding between different ways of spending leisure time
    Explanation
    The other options in the list are all related to making decisions regarding financial matters, such as choosing between paid work and leisure, alternative methods of personal savings, and expenditure on different goods. However, "Deciding between different ways of spending leisure time" is unrelated to financial decisions and stands out as the odd one out.

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  • 10. 

    Direct marketing means

    • A.

      Marketing through mobile

    • B.

      Face to face marketing

    • C.

      Mail

    • D.

      Seminar presentation

    Correct Answer
    D. Seminar presentation
    Explanation
    Direct marketing refers to a marketing strategy where companies directly communicate with potential customers to promote their products or services. This can be done through various channels such as mobile marketing, face to face marketing, mail, or seminar presentations. However, in this case, the correct answer is seminar presentation, as it specifically involves marketing through presentations conducted in seminars or conferences to target a specific audience and generate leads or sales.

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  • 11. 

    In which sector, the production and consumption takes place at about the same time?

    • A.

      Primary

    • B.

      Secondary

    • C.

      Tertiary

    • D.

      None of them

    Correct Answer
    C. Tertiary
    Explanation
    In the tertiary sector, the production and consumption of goods and services typically occur simultaneously. This is because the tertiary sector mainly consists of service-based industries, such as retail, hospitality, healthcare, and education, where the production and consumption happen in real-time. For example, when a customer purchases a product or receives a service at a retail store or restaurant, the production and consumption occur simultaneously. Therefore, the correct answer is the tertiary sector.

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  • 12. 

    Who will leave the market due to poor margin ?

    • A.

      Producers

    • B.

      Sellers

    • C.

      Retailers

    • D.

      Customers

    Correct Answer
    A. Producers
    Explanation
    Producers will leave the market due to poor margin because they are the ones who manufacture or create the products. If they are not making enough profit from selling their products, they will not be able to sustain their business and may be forced to leave the market. This is because producers rely on making a profit to cover their costs and invest in further production. If the margin is poor, they will not be able to generate enough revenue to sustain their operations and will have to exit the market.

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  • 13. 

    A marketing channel is:

    • A.

      A set of interdependent organizations involved in the process of making a product or service available for use or consumption.

    • B.

       A manner by which products or services are sold.

    • C.

      A method for communicating advertising.

    • D.

       A process by which customer feedback can be provided to the manufacturer.

    Correct Answer
    A. A set of interdependent organizations involved in the process of making a product or service available for use or consumption.
    Explanation
    The correct answer is "A set of interdependent organizations involved in the process of making a product or service available for use or consumption." This answer accurately describes a marketing channel as a network of organizations that work together to bring a product or service to the market. It highlights the interdependence and collaboration between these organizations in order to make the product or service accessible to customers.

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  • 14. 

    'Think bright, not white' is used by which company?

    • A.

      Samsung

    • B.

      LG

    • C.

      Onida

    • D.

      National

    Correct Answer
    A. Samsung
    Explanation
    The phrase "Think bright, not white" is used by Samsung.

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  • 15. 

    ‘Quality first, cost second’ is used by which pen company?

    Correct Answer
    ADD gel,add gel
    Explanation
    The pen company that uses the slogan "Quality first, cost second" is ADD gel, also known as add gel. This implies that the company prioritizes the quality of their pens over the cost, indicating their commitment to providing high-quality products to their customers.

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  • 16. 

    “Marketing is the activity, set of ………… & processes for creating, communicating, delivering & ………………… offerings that value for customers, clients, partners & society.”

    • A.

      Institutions, satisfying

    • B.

      Organizations, exchanging

    • C.

      Institutions, exchanging

    • D.

      Organizations, understanding

    Correct Answer
    C. Institutions, exchanging
    Explanation
    The correct answer is "Institutions, exchanging." This answer aligns with the definition of marketing provided in the question, which states that marketing involves creating, communicating, delivering, and exchanging offerings that create value for customers, clients, partners, and society. The term "institutions" refers to the organizations or entities involved in the exchange process, while "exchanging" emphasizes the importance of transactional relationships in marketing.

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  • 17. 

    This company is well known for Technology innovation, great values and act as a game changer.

    • A.

      Nokia

    • B.

      Apple

    • C.

      HTC

    • D.

      Samsung

    Correct Answer
    B. Apple
    Explanation
    Apple is the correct answer because it is widely recognized for its technology innovation, strong values, and its ability to disrupt and transform industries. Apple has consistently introduced groundbreaking products and technologies, such as the iPhone, iPad, and Apple Watch, that have revolutionized the way we use and interact with technology. The company is also known for its commitment to user privacy and security, as well as its emphasis on design and user experience. Overall, Apple's track record of innovation and its ability to shape and redefine industries make it a game changer in the technology sector.

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  • 18. 

    A _______ is a detailed version of the idea stated in meaningful consumer terms.

    • A.

      Product concept

    • B.

      Product feature

    • C.

      Product image

    • D.

      Product idea

    Correct Answer
    A. Product concept
    Explanation
    A product concept refers to a detailed version of an idea that is expressed in terms that are meaningful to consumers. It involves developing a clear understanding of what the product is, what it does, and how it will meet the needs and desires of the target market. This includes considering factors such as the product's features, benefits, and value proposition. By presenting the idea in a way that resonates with consumers, a product concept can help to generate interest and drive demand for the product.

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  • 19. 

    After concept testing, a firm would engage in which stage for developing and marketing a new product?

    • A.

      Marketing strategy development

    • B.

      Business analysis

    • C.

      Product development

    • D.

      Test marketing

    Correct Answer
    A. Marketing strategy development
    Explanation
    After concept testing, a firm would engage in the marketing strategy development stage for developing and marketing a new product. This stage involves creating a plan to introduce and promote the product to the target market. It includes identifying the target market, determining the product positioning, setting marketing objectives, and developing a marketing mix (product, price, place, and promotion) to effectively reach and persuade the target customers. This stage is crucial for ensuring a successful launch and market penetration of the new product.

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  • 20. 

    Find the odd one that customer go through in the process of adopting a new product?

    • A.

      Awareness

    • B.

      Interest

    • C.

      Evaluation

    • D.

      Culture

    Correct Answer
    D. Culture
    Explanation
    The options Awareness, Interest, and Evaluation are all stages that a customer goes through in the process of adopting a new product. These stages involve becoming aware of the product, developing an interest in it, and evaluating its features and benefits. However, Culture does not fit into this sequence as it is not typically considered a stage in the adoption process.

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  • 21. 

    Which one of the following statements by a company chairman best reflects the marketing concept?

    • A.

      We have organized our business to satisfy the customer needs

    • B.

      We believe that marketing department must organize to sell what we produce

    • C.

      We believe that marketing department must organize to sell what we produce

    • D.

      We try to produce only high quality, technically efficient products

    • E.

      We try to encourage company growth in the market

    Correct Answer
    A. We have organized our business to satisfy the customer needs
    Explanation
    This statement reflects the marketing concept because it emphasizes the importance of organizing the business to meet the needs of the customers. This approach recognizes that the key to success is understanding and satisfying customer needs, rather than simply focusing on selling what the company produces or promoting growth in the market. By prioritizing customer satisfaction, the company acknowledges the importance of building long-term relationships and delivering value to customers.

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  • 22. 

    “Division of work, authority and responsibility, unity of command” were proposed as part of the principle of management by

    • A.

      Weber

    • B.

      Fayol

    • C.

      Taylor

    • D.

      Woodward

    Correct Answer
    B. Fayol
    Explanation
    Fayol proposed the principles of management, including division of work, authority and responsibility, and unity of command. These principles emphasize the importance of dividing tasks among employees, giving them authority and responsibility for their specific tasks, and ensuring that each employee reports to only one supervisor. This helps to streamline and improve efficiency in the organization. Weber, Taylor, and Woodward are not associated with these specific principles.

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  • 23. 

    Consider the following basic steps involved in the process of control: 1)Identifying the strategic control points 2)Establishment of the standards 3)Measuring performance against standards 4)Correcting deviations from the standards

    • A.

      1,4,3,2

    • B.

      1,2,3,4

    • C.

      2,1,3,4

    • D.

      2,3,1,4

    Correct Answer
    B. 1,2,3,4
    Explanation
    The correct answer is 1,2,3,4. This sequence represents the correct order of the basic steps involved in the process of control. First, it is important to identify the strategic control points, which are the areas or aspects of the organization that need to be monitored and controlled. Then, standards are established, which are the benchmarks or criteria against which performance will be measured. Next, performance is measured against these standards to determine if there are any deviations or discrepancies. Finally, if deviations are identified, corrective actions are taken to bring performance back in line with the established standards.

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  • 24. 

    An organisation structure is effective if it enables individuals to contribute to the objectives of the enterprise. This is known as

    • A.

      Scalar principle

    • B.

      Principle of functional definition

    • C.

      Principle of unity of objectives

    • D.

      None of the above

    Correct Answer
    C. Principle of unity of objectives
    Explanation
    The principle of unity of objectives refers to the idea that an organization structure is effective when it allows individuals to contribute to the overall goals and objectives of the enterprise. This means that all individuals within the organization should have a clear understanding of the common objectives and work towards achieving them. This principle emphasizes the importance of alignment and coordination among different parts of the organization to ensure that everyone is working towards the same goals.

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  • 25. 

    Which one of the following statement is correct?

    • A.

      Planning and controlling are essentially one and the same

    • B.

      Controlling is a part of the planning process.

    • C.

      Controlling is a substitute for planning

    • D.

      A control process is meaningless without pre-set goals

    Correct Answer
    D. A control process is meaningless without pre-set goals
    Explanation
    A control process is meaningless without pre-set goals because goals provide the direction and purpose for the control process. Without clear goals, there would be no standard or benchmark against which to measure and evaluate performance. Goals help to define what needs to be achieved and provide the basis for establishing criteria and standards for control. Without pre-set goals, the control process would lack focus and effectiveness, as there would be no clear objective to strive for and no basis for determining whether the desired outcomes have been achieved.

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