Marketing Officer MCQ Quiz in मल्याळम - Objective Question with Answer for Marketing Officer - സൗജന്യ PDF ഡൗൺലോഡ് ചെയ്യുക

Branding

• It is the marketing practice of creating a name, symbol, or design that identifies and differentiates a product from other products. An effective brand strategy gives you a major edge in increasingly competitive markets.
• Examples of branding techniques include the use of logos, taglines, jingles, or mascots.

Ingredient branding

• Ingredient branding is a marketing strategy where a component of the business is branded as a separate entity.
• This helps to add more value to the parent company and make their product/service seem superior to its competitors. You've probably seen this strategy in use several times before without even realizing it.
• The ingredient must be highly differentiated in order to add value to the overall brand.
• This means the ingredient should have a separate name and logo and overall purpose because the added value comes from the extra identity. First and foremost, brands should not create confusion in the market.
• Example: Intel’s Intel Inside
  • Intel Inside is actually credited with the conception of ingredient branding back in the ’90s and was the first success story of having an ingredient helping to promote their business.

 

• Umbrella branding is a marketing practice involving the use of a single brand name for the sale of two or more related products. Umbrella branding is mainly used by companies with positive brand equity.
• Co-branding is a marketing strategy that utilizes multiple brand names on a good or service as part of a strategic alliance. Also known as a brand partnership, co-branding (or "cobranding") encompasses several different types of branding collaborations, typically involving the brands of at least two companies.
• Brand salience is the degree by which your brand is thought of or noticed by consumers when they make a purchase decision. Typically, strong brands have higher brand salience, whereas weak brands have little or none.

A sales technique or selling method is used by a salesperson or sales team to create revenue and help sell more effectively. The technique typically isn't a one-size-fits-all and is often refined through trial and error based on past experiences.

Upselling

• Upselling is a sales technique where a seller invites the customer to purchase more expensive items, upgrades, or other add-ons to generate more revenue.
• It usually involves marketing more profitable services or products, it can be simply exposing the customer to other options that were perhaps not considered. 
• For example, a housekeeping service might upsell a customer buying a weekly cleaning package by offering a package with more rooms, and cross-sell by also offering a carpet deep cleaning service.

• Cross-selling is the process of selling a different product or service to a customer to increase the value of a sale. It is often confused with upselling, which is anything that increases the price and functionality of the original purchase.
  • Example: A sales representative at an electronics retailer suggests that the customer purchasing a digital camera also buy a memory card. A new car dealer suggests the car buyer add a cargo liner or other after-market product when making the initial vehicle purchase.
• Down-selling is the technique of offering a more budget-friendly alternative to the product or service initially considered by the customer. While higher-priced items have a better profit margin, down-selling helps you close a sale even when the customer cannot afford to buy a premium product.
• Suggestive selling (also known as add-on selling or upselling) is a sales technique where an employee asks a customer if they would like to include an additional purchase or recommends a product that might suit the client.

Upselling is a sales technique where a seller invites the customer to purchase more expensive items, upgrades, or other add-ons to generate more revenue. Therefore Option 3 is the correct answer.

Consumer durables market is a low volume but high unit value market.

Consumer durables market

• Consumer durables refer to those consumer goods that do not quickly wear out and yields utility over a long period of time
• The consumer durable industry consists of durable goods and appliances for domestic use such as televisions, refrigerators, air conditioners, and washing machines.

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• A soft market is a market that has more potential sellers than buyers. This is often referred to as a buyer's market, as the purchasers hold much of the power in negotiations.
• Fast-moving consumer goods, also known as consumer packaged goods, are products that are sold quickly and at a relatively low cost. Examples include non-durable household goods such as packaged foods, beverages, toiletries, candies, cosmetics, over-the-counter drugs, dry goods, and other consumables.
• Services Market: Market dealing in intangible products. Example: Teaching, childcare, etc.

A mutual fund is a type of Investment Company that pools money from many investors and invests the money in stocks, bonds, money-market instruments, other securities or even cash. All Asset Management Companies (AMCs) including Mutual Funds are regulated by SEBI.

The purpose of the promotion function is to communicate information about goods, services, images, and/or ideas to achieve a desired outcome. Promotion informs, persuades, or reminds customers about a business and/or its products.

Key Points Promotion:

Promotion is a marketing tool, used as a strategy to communicate between the sellers and buyers. Through this, the seller tries to influence and convince the buyers to buy their products or services. It assists in spreading the word about the product or services or company to the people. The company uses this process to improve its public image. This technique of marketing creates an interest in the mindset of the customers and can also retain them as a loyal customer.

Hence, the correct answer is Promotion.

The correct answer is Introduction, Growth, Maturity, Decline.

Key Points

Introduction, Growth, Maturity, Decline is the correct sequence of the product life cycle.

The term product life cycle refers to the length of time a product is introduced to consumers into the market until it's removed from the shelves.

• This concept is used by management and by marketing professionals as a factor in deciding when it is appropriate to increase advertising, reduce prices, expand to new markets, or redesign packaging.
• The process of strategizing ways to continuously support and maintain a product is called product life cycle management.

Important Points

 Introduction Stage

• The introduction stage shows low sales numbers as the product is being introduced in the market.
• Profit is zero or negative in this stage because of the heavy expenses of product introduction.

Growth Stage

• With proper marketing, a product can go into the growth stage. During the growth stage, sales rise rapidly as consumers begin to accept the product.
• The production runs become longer, and economies of scale are achieved, reducing per-unit cost, and also helping profits to increase rapidly.

Maturity Stage

• During the maturity stage of the product life cycle, the sharp growth in sales begins to slow, and profits at the beginning of this stage decline.
• The most notable characteristic of this stage is the peaking of the product’s sales and profit curves.
• At the beginning of the maturity stage, sales continue to grow but at a much slower rate.
• Towards the end of this stage, sales and profits will start to fall fairly rapidly.
• This stage is characterized by severe competition as many brands enter the market.

Decline stage

• The product’s sales and profits fall very quickly.
• Most competitors leave the market.

Key Points

Corporate social responsibility(CSR):

The title corporate social responsibility has two meanings. First, it’s a general name for any theory of the corporation that emphasizes both the responsibility to make money and the responsibility to interact ethically with the surrounding community. Second, corporate social responsibility is also a specific conception of that responsibility to profit while playing a role in broader questions of community welfare. Corporate social responsibility is composed of four obligations:

• Ecological responsibility
• Legal responsibility
• Social responsibility
• Philanthropic responsibility

Important Points

Theories of CSR:

The present practice of corporate social responsibility has been depicted and informed by three CSR theories:

• The stakeholder theory of CSR
• The business ethics theory of CSR
• The shareholder value theory of CSR

The correct answer is Catherin's demand schedule

Key Points

• The supply curve is the graph of the relationship between the price of a good and the quantity supplied. 
• In economics, a demanding schedule is a table that shows the quantity demanded of a good at different price levels. This is what Okha's demand schedule is all about.
• Catherine's demand schedule is as follows and it shows the quantity demanded at each price:

• Price of Ice-cream cone	Quantity of Cones demanded
  $ 0.00	12
  0.50	10
  1.00	8
  1.50	6
  2.00	4
  2.50	2
  3.00	0

Kiosks, events, and Tradeshows are Outdoor advertising.

Key Points

Outdoor advertising is when a business runs an advertising campaign in specific geographic locations that reaches the prospects and potential consumers when they are outside their homes. Kiosks, events, and Tradeshows are an example of outdoor advertising.

Kiosks:

• A kiosk refers to a small, temporary, stand-alone booth used in high-traffic areas for marketing purposes.
• Kiosks may be manned by one or two individuals or may be electronic.
• These booths are considered to be low-cost marketing strategies that are great alternatives for new, emerging entrepreneurs.
• The different types of kiosks include employment kiosks, foodservice kiosks, healthcare kiosks, Bitcoin kiosks, and photo kiosks.
• Kiosks can help raise brand awareness and provide an interactive way for consumers to engage with a company. 
   

Events and Tradeshows:

• Trade show marketing refers to an exhibition where companies in a specific industry showcase and demonstrate their new products and services. 

Additional Information

1. Print advertising means advertisements that are printed in hard copy in publications (newspapers, magazines, journals) likely to be read by your target audience. 
2. The phrase "covert advertising" refers to advertising that is hidden in other media, such as an actor in a movie drinking a Coca-Cola. It is referred to as "covert" because it is not direct advertising, but subliminally viewers often notice the product.
3. Public Service Advertising is using the techniques of commercial advertising for non-commercial purposes. It is mainly used as a tool to promote social welfare. The Governments, Local Bodies, NGOs, and civil society undertake such advertising for multiple reasons, with the central idea of influencing people.

Customer touchpoints

• Customer touchpoints are any point of contact between a business and a customer, be it an email, call center, via a company website, etc.
• This doesn't have to be directly instigated by the business. For instance, advertisements or third-party review sites are a form of customer touchpoints.
• Customer touchpoints are where customers interact with your brand, product, service, etc.
• Developing an understanding of each touchpoint means that you can design better user and better customer experiences.
• This understanding can also be used to enhance user and customer journey mapping exercises.
• Five main touchpoints that reach consumers are the brand promise, brand story, innovation, purchase moment, and consumer experience.
• Regardless of the order, they reach the consumer; if the brand does not deliver a consistent message, the consumer will be confused and likely shut out that brand.

Therefore, Customer touchpoints are any occasion on which the brand or product is used by end customers.