Banks Marketing Online Test Questions! Trivia
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Questions and Answers
- 1.
Which among the following is not criteria for segement?
- A.
It must be internally homogenous
- B.
It must be identifiable
- C.
It must be accessible
- D.
It must have effective demand
- E.
It must have high purchasing power
Correct Answer
E. It must have high purchasing powerExplanation
The given statement, "It must have high purchasing power," is not a criteria for segment. This means that having high purchasing power is not a requirement for a segment. Segments are typically defined based on factors such as internal homogeneity, identifiability, accessibility, and effective demand. However, the level of purchasing power is not a determining factor for segment classification.Rate this question:
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- 2.
Direct Marketing means
- A.
Face-to-face marketing
- B.
Melas
- C.
Seminars
- D.
Indoor marketing
- E.
None of these
Correct Answer
A. Face-to-face marketingExplanation
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 methods such as face-to-face interactions, where sales representatives engage with customers personally to present and sell products. Other options mentioned in the question, such as melas (fairs), seminars, and indoor marketing, are not necessarily exclusive to direct marketing and can be part of other marketing strategies as well. Therefore, the correct answer is face-to-face marketing, as it specifically represents the concept of direct marketing.Rate this question:
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- 3.
Which among the following is not used for Psychographic market segmentation?
- A.
Personality traits
- B.
Perception
- C.
Attitudes
- D.
Social Roles
- E.
Educational level
Correct Answer
E. Educational levelExplanation
Psychographic market segmentation is the process of dividing a market based on psychological and lifestyle characteristics of consumers. It aims to understand their values, interests, opinions, and behaviors. Personality traits, perception, attitudes, and social roles are all factors that are commonly used for psychographic segmentation as they provide insights into consumer motivations and preferences. However, educational level is not typically considered a psychographic variable as it primarily relates to demographics and does not directly reflect psychological or lifestyle factors.Rate this question:
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- 4.
Effective Bank Marketing requires
- A.
Proper pricing
- B.
Customised products
- C.
Simple procedures
- D.
All of these
- E.
None of these
Correct Answer
D. All of theseExplanation
Effective bank marketing requires all of these elements: proper pricing, customized products, and simple procedures. Proper pricing ensures that the bank's products and services are competitively priced, attracting customers and generating revenue. Customized products allow the bank to cater to the specific needs and preferences of different customer segments, enhancing customer satisfaction and loyalty. Simple procedures make it easier for customers to access and use the bank's products and services, improving the overall customer experience. Therefore, all of these elements are essential for effective bank marketing.Rate this question:
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- 5.
Consider the follwing A) Asset management & investment skills B) Distribution C) Capital adequacy D) strong brand name Which among the above qualities of a bank fulfill the major requirements to be successful Insurance company as well?
- A.
Only A
- B.
Only A & B
- C.
Only A, B & C
- D.
All of them
- E.
None of these
Correct Answer
D. All of themExplanation
All of the qualities mentioned (Asset management & investment skills, Distribution, Capital adequacy, and strong brand name) are major requirements for a successful insurance company. Asset management and investment skills are crucial for effectively managing the insurance company's investment portfolio. Distribution is important for reaching a wide customer base and selling insurance policies. Capital adequacy ensures that the company has enough financial resources to cover potential losses. A strong brand name helps in building trust and credibility among customers. Therefore, all of these qualities are necessary for a successful insurance company.Rate this question:
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- 6.
The two component of a marketing strategy are
- A.
Marketing objectives and promotion
- B.
Marketing mix and marketing objectives
- C.
Target market and market mix
- D.
Target market and promotions
- E.
None of the above
Correct Answer
C. Target market and market mixExplanation
A marketing strategy consists of various elements, but two crucial components are the target market and the marketing mix. The target market refers to the specific group of customers that a company aims to reach and cater to with its products or services. Identifying the target market helps in developing effective marketing campaigns and tailoring the marketing mix accordingly. The marketing mix, on the other hand, includes the four Ps: product, price, place, and promotion. It encompasses the decisions and tactics related to product design, pricing strategy, distribution channels, and promotional activities. Together, the target market and marketing mix form the foundation of a comprehensive marketing strategy.Rate this question:
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- 7.
Which among the following is a most correct statement about ‘Risk’ ?
- A.
Risk can be eliminated completely
- B.
Risk can’t be eliminated completely
- C.
Risk can’t be eliminated but always minimized
- D.
Risk can’t be eliminated but scheduled
- E.
Risk can’t be eliminated but managed properly
Correct Answer
C. Risk can’t be eliminated but always minimized -
- 8.
Selling is a function undertaken by
- A.
All the sales persons
- B.
All the employees
- C.
Entire organizations
- D.
Outsourced agencies
- E.
None of these
Correct Answer
A. All the sales personsExplanation
The correct answer is "All the sales persons." Selling is a function that is primarily undertaken by salespersons. They are responsible for promoting and selling products or services to customers. While other employees may also play a role in the sales process, such as marketing or customer service, salespersons are specifically trained and dedicated to the task of selling. Therefore, the correct answer is all the sales persons.Rate this question:
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- 9.
Which among the following may be called a pillar of marketing Concept ?
- A.
Customer Orientation
- B.
Proper Planning
- C.
Cost Budgeting
- D.
All of the Above
- E.
None of these
Correct Answer
A. Customer OrientationExplanation
Customer orientation can be considered a pillar of marketing concept because it focuses on understanding and meeting the needs and wants of customers. It involves putting the customer at the center of all marketing strategies and activities, and prioritizing their satisfaction and loyalty. By adopting a customer-oriented approach, businesses can better identify and target their market segments, develop products and services that meet customer demands, and build long-term relationships with customers. This pillar is essential for creating value, gaining a competitive advantage, and achieving marketing objectives.Rate this question:
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- 10.
Which among the following is a component of customer satisfaction ?
- A.
Fair price
- B.
Profitability
- C.
Brand
- D.
All of the Above
- E.
None of these
Correct Answer
A. Fair priceExplanation
Fair price is a component of customer satisfaction because customers value products or services that are priced fairly. When customers feel that they are getting good value for their money, they are more likely to be satisfied with their purchase. Fair pricing also helps to build trust and loyalty with customers, as they feel that they are being treated fairly and not taken advantage of. Therefore, fair price plays a crucial role in customer satisfaction.Rate this question:
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- 11.
One of the following is not a sales activity. Find the same.
- A.
Identifying leads
- B.
Making a call
- C.
Negotiation
- D.
After-sales service
- E.
None of these
Correct Answer
D. After-sales serviceExplanation
After-sales service is not considered a sales activity because it occurs after the sale has already been made. It involves providing support and assistance to customers after they have purchased a product or service, such as handling complaints, addressing issues, and offering maintenance or repair services. While it is an important aspect of customer satisfaction and retention, it is not directly involved in the process of selling or closing a sale.Rate this question:
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- 12.
Most specifically, marketing strategy
- A.
Is concerned with key decisions required to reach an objective
- B.
Encompasses selecting and analyzing a target market and creating and maintaining an appropriate marketing mix.
- C.
Expands geographic boundaries of markets to serve larger Geographic areas
- D.
Involves determining the direction and objectives of marketing management
- E.
Expands market to reach a goal
Correct Answer
B. Encompasses selecting and analyzing a target market and creating and maintaining an appropriate marketing mix.Explanation
The correct answer is "Encompasses selecting and analyzing a target market and creating and maintaining an appropriate marketing mix." This answer accurately describes the main focus of marketing strategy. It involves identifying and understanding the target market, analyzing their needs and preferences, and developing a marketing mix that includes product, price, promotion, and distribution strategies to effectively reach and satisfy the target market. This encompasses the key decisions and actions required to achieve marketing objectives.Rate this question:
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- 13.
All of the following are the marketing management tasks EXCEPT
- A.
Marketing Planning
- B.
Organizing marketing activities
- C.
Co-ordinating marketing activities
- D.
Project development and analysis
- E.
Marketing control
Correct Answer
E. Marketing controlExplanation
Marketing control is not considered a marketing management task. Marketing control involves monitoring and evaluating the performance of marketing activities to ensure they are aligned with the overall marketing objectives and goals. It involves measuring and analyzing marketing metrics, such as sales, market share, and customer satisfaction, to assess the effectiveness and efficiency of marketing strategies and tactics. The other tasks mentioned, such as marketing planning, organizing marketing activities, coordinating marketing activities, and project development and analysis, are all essential components of marketing management.Rate this question:
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- 14.
A brand name is one of the elements of the
- A.
Core product
- B.
Actual product
- C.
Augmented product
- D.
Market product
- E.
None of these
Correct Answer
B. Actual productExplanation
A brand name is an essential component of the actual product. It represents the unique identity and reputation of a product in the market. It helps consumers differentiate a product from its competitors and builds trust and loyalty towards the brand. A brand name is a tangible aspect of the product that customers can recognize and associate with certain qualities or attributes. Therefore, it is considered as part of the actual product rather than the core, augmented, or market product.Rate this question:
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- 15.
Which among the following is correct sentence ?
- A.
Focus of marketing is ‘consumer’s need’ and focus of selling is ‘sellers need’
- B.
Focus of marketing is ‘seller’s need’ and focus of selling is ‘consumers need’
- C.
Focus of Both marketing and selling is “Consumer’s need”
- D.
Focus of Both marketing and selling is “Seller’s need”
- E.
None of them is correct
Correct Answer
A. Focus of marketing is ‘consumer’s need’ and focus of selling is ‘sellers need’Explanation
The correct answer is "Focus of marketing is ‘consumer’s need’ and focus of selling is ‘sellers need’". This sentence accurately describes the difference between marketing and selling. Marketing is centered around understanding and fulfilling the needs and wants of the consumer, while selling focuses on meeting the needs and goals of the seller.Rate this question:
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- 16.
Among which of the following is related to Bank Risks ?
- A.
Deposits
- B.
Bank Funds
- C.
Non Performing Assets
- D.
All of the these
- E.
None of these
Correct Answer
C. Non Performing AssetsExplanation
Non-performing assets (NPAs) are loans or advances that are in default or are about to default. They are considered a major risk for banks as they can lead to financial losses and affect the stability of the banking system. NPAs are typically loans that borrowers have stopped repaying or are unable to repay. Therefore, the correct answer is "Non Performing Assets" as it directly relates to the risk faced by banks.Rate this question:
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- 17.
“ Relationship” in marketing means
- A.
Relation between salesperson
- B.
Relation between buyer and seller
- C.
Relation between company and consumer
- D.
All of these
- E.
None of these
Correct Answer
C. Relation between company and consumerExplanation
"Relationship" in marketing refers to the connection or bond between a company and its consumers. This includes establishing trust, understanding customer needs, providing excellent customer service, and building long-term loyalty. It is crucial for a company to maintain a positive and strong relationship with its consumers in order to retain them and encourage repeat purchases. This relationship-building approach helps companies to understand their consumers better and tailor their marketing strategies accordingly.Rate this question:
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- 18.
In the Banking Environment, which among the following is the internal factor ?
- A.
Customer
- B.
Staff
- C.
Market
- D.
Area
- E.
None of these
Correct Answer
B. StaffExplanation
In the banking environment, the staff is considered an internal factor. This is because the staff members are directly involved in the day-to-day operations of the bank and have a significant impact on its functioning. They are responsible for providing customer service, processing transactions, and ensuring compliance with regulations. The staff's knowledge, skills, and performance can greatly affect the overall efficiency and effectiveness of the bank. Therefore, the staff is an important internal factor in the banking environment.Rate this question:
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- 19.
Consumer of Bank comes under which of the following environment ?
- A.
External Environment
- B.
Internal Environment
- C.
Indirect Environment
- D.
All of the Above
- E.
None of these
Correct Answer
A. External EnvironmentExplanation
A consumer of a bank, referring to an individual or organization that uses the services provided by the bank, falls under the external environment. This is because the consumer is not a part of the bank itself but rather interacts with the bank from outside. The external environment includes all the factors and entities that are outside the control of the bank but can still have an impact on its operations and performance.Rate this question:
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- 20.
Which among the following generally does not come under Corporate Banking?
- A.
Structured Finance
- B.
Government Banking
- C.
FI, Capital Markets & Custodial Services
- D.
Debit Cards
- E.
None of these
Correct Answer
D. Debit CardsExplanation
Debit cards generally do not come under corporate banking because they are primarily used by individuals for personal transactions. Corporate banking, on the other hand, focuses on providing financial services to corporations and businesses. Structured finance, government banking, and FI, capital markets & custodial services are all examples of services that are typically offered by corporate banks. Therefore, the correct answer is Debit Cards.Rate this question:
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