Marketing Awareness Questions PART-2

1.Which is the first element of a marketing strategy ?
1.Total Available Market
2.Target Market
3.Served Available Market
4.Target Available Market
5.None of these
Answer – 2.Target Market
Explanation :
A target market is a group of customers a business has decided to aim its marketing efforts and ultimately its merchandise towards. A well-defined target market is the first element of a marketing strategy

2.In SPOC, P stands for __________
1.Process
2.Producer
3.Products
4.Prospects
5.None of these
Answer – 4.Prospects
Explanation :
SPOC – Suspects Prospects Opportunities Customers

3.Who among the following will provide the information about the marketing policies competitors?
1.Dealers
2.Sellers
3.Retailers
4.Consumers
5.None of these
Answer –1.Dealers
Explanation :
Dealers can provide the information about the marketing policies of competitors

4.When disinvestment or sale of its equity capital by the Government exceeds __________ then the enterprise is transferred to private enterprise
1.25%
2.50%
3.75%
4.100%
5.None of these
Answer – 2.50%
Explanation :
When disinvestment or sale of its equity capital by the Government exceeds 50 per cent so that the majority ownership and therefore control and management of the enterprise is transferred to private enterprise.

5.The deployment of procurement resources by a buyer in an attempt to obtain lower prices from suppliers is known as ___________
1.Consumer Resistance
2.Buyer Resistance
3.Product Resistance
4.Supplier Resistance
5.None of these
Answer – 2.Buyer Resistance
Explanation :
Buyer resistance refers to the deployment of procurement resources by a buyer in an attempt to obtain lower prices from suppliers. When confronting unexpectedly high prices from suppliers, a procurement division may devote resources to resist the price increase.