QUIZ 1- WITH ANSWERS

1.Which among the following is not a internal factor of Marketing Environment?
(A)Policy of the firm
(B)Marketing Distribution Channel
(C)Labor Policy of the Government
Ans- (C)

 2.Which among the following does not come under social environment of marketing?
(A)Life Style
(B)Caste System
(C)Size of Population

Ans-(C) size of population comes under Demographic Environment

3.Which among the following are called final accounts of a Bank ?
(A)Trading Account, Profit & Loss Account and Balance Sheet
(B)Profit & Loss Account and Balance Sheet
(C)Balance Sheet Only

Ans- (B)

 4.Loan & Advances of a bank come under which of the following category ?
(A)Assets
(B)Liabilities
(C)Costs

Ans-(A)

 5.What is the full form of ECB ?

(A)Extra Commercial Banking
(B)Extra Commercial Borrowings
(C)External Commercial Borrowings

Ans-(C)

 6.Which among the following is correct regarding call option & put option in currency markets?
(A)Call option is for sellers & Put Option is for Buyers
(B)Call Option is for Buyers & Put option is for sellers
(C)none of them is correct

Ans-(B)

 7.All the foreign exchange of the country ultimately goes to which of the following ?
(A)Ministry of Finance
(B)Reserve Bank of India
(C)Finance Secretariat

Ans- (B)

 8.In the Banking Environment , which among the following is the internal factor?
(A)Customer
(B)Staff
(C)Market

Ans-(B)

 9.Which among the following is NOT a controllable factor of Marketing Environment ?
(A)Labeling of a Product
(B)Policy of the firm
(C)Organizational Structure

Ans-(A)Labeling requires some legal aspects.

 10.Employee of a Bank comes under which of the following environment ?
(A)External Environment
(B)Internal Environment
(C)Indirect Environment

Ans- (B)

 11.Bulk Breaking comes at which part of the marketing channel ?
(A)Wholesaler
(B)Distributor
(C)Retailer

Ans-(C)

 12.Which among the following media has most effective visual impact on a customer?

(A)News paper
(B)TV
(C)Radio

Ans- (B)

13.The desirability and profitability of advertising can be judged by which of the following ?
(A)Selection of media.
(B)Coordination of marketing & advertising
(C)Return on Investment

Ans-(C)

14.Telemarketing is effective in _______ ?
(A)Industrial Marketing
(B)Consumer Marketing
(C)Industrial as well as Consumer Marketing

Ans- (C)

 15.Which among the following is the smallest retailing unit?
(A)Departmental Store
(B)Specialty Stores
(C)Convenience Stores

Ans- (C)

 16.Which among the following is the largest retailing Unit?
(A)Cash & Carry Store
(B)Super market
(C)Hyper market

Ans-(C)

Punjab National Bank PNB Clerk Exam 2010 Paper

1.    Marketing function includes—
(A) Designing new products
(B) Advertisements
(C) Publicity
(D) After sales service
(E) All of these
Ans : (E)
2. Lead generation can be resorted to
by browsing—
(A) Telephone directories
(B) Yellow pages
(C) Internet sites
(D) List of existing customers
(E) All of these
Ans : (E)
3. Effective selling skills depend on—
(A) Effective lead generation
(B) Sales Call Planning
(C) Territory Allocation
(D) Effective communication skills
(E) All of these
Ans : (E)
4. Market Information means—
(A) Knowledge level of marketing staff
(B) Information about marketing staff
(C) Information regarding Share market
(D) Knowledge of related markets
(E) All of these
Ans : (D)
5. Marketing channels mean—
(A) Delivery period
(B) Delivery time
(C) Delivery outlets
(D) Delivery place
(E) All of these
Ans : (E)
6. ‘Buyer Resistance’ means—
(A) Buyer’s interest in the product being sold
(B) Buyer fighting with the seller
(C) Buyer’s hesitation in buying the product
(D) Buyer becoming a seller
(E) Buyer buying the product
Ans : (C)
7. Marketing is the function of—
(A) Sales persons
(B) Production Department
(C) Planning Department
(D) Team leaders
(E) A collective function of all staff
Ans : (E)
8. A DSA means—
(A) Direct Service Agency
(B) Direct Selling Agent
(C) Double Selling Agent
(D) Distribution Agency
(E) None of these
Ans : (B)
9. Service Marketing is resorted to in—
(A) All manufacturing companies
(B) All production houses
(C) Export units
(D) Insurance companies and banks
(E) All of these
Ans : (D)
10. Marketing is—
(A) A skilled person’s job
(B) A one day function
(C) A one time act
(D) Required only when a new product is launched
(E) None of these
Ans : (A)
11. Market share refers to—
(A) Share market prices
(B) Price fluctuation in the market
(C) Share issue floated by the company
(D) Share of wallet
(E) Share of business of the company
as compared to peers
Ans : (E)
12. Service Marketing is the same as—
(A) Internet marketing
(B) Telemarketing
(C) Internal Marketing
(D) Relationship Marketing
(E) All of these
Ans : (D)
13. Current Accounts can be freely opened by ………… Find the incorrect answer.
(A) All NRIs
(B) All businessmen
(C) Government departments
(D) Firms and Companies
(E) HUFs
Ans : (E)
14. Buyer Resistance can be overcome by—
(A) Cordial relation between buyer and
seller
(B) Good negotiation
(C) Persuasive communication
(D) Good after sales service
(E) none of these
Ans : (A)
15. Cross-selling is useful for canvassing—
(A) Current Accounts
(B) Fixed Deposit Accounts
(C) Student loans
(D) Car loans
(E) All of these
Ans : (E) 
16. Market segmentation helps to
determine—
(A) Target groups
(B) Sale price
(C) Profit levels
(D) Product life cycle
(E) All of these
Ans : (A)
17. The target group for Car loans is—
(A) Auto manufacturing companies
(B) Car dealers
(C) Taxi drivers
(D) Car purchasers
(E) All of these
Ans : (E)
18. The best promotional tool in any marketing is—
(A) e-promotion
(B) Public Relations
(C) Viral marketing
(D) Word of mouth publicity
(E) Advertisements
Ans : (E)
19. Customisation results in—
(A) Customer exodus
(B) Customer retention
(C) Customer complaints
(D) All of these
(E) None of these
Ans : (B)
20. The target group for Education Loans is—
(A) All parents
(B) All Professors
(C) All Research Scholars
(D) All Tutorial Colleges
(E) All College Students
Ans : (E)
21. Find the correct sentence.
(A) Higher the price, higher are the sales
(B) More sales persons lead to more sales
(C) Mission statement is part of a Market Plan
(D) Better sales incentives means better performance
(E) All customers are profitable customers
Ans : (C)
22. Good marketing strategy envisages good and proper—
(A) Product development
(B) Promotion and Distribution
(C) Pricing
(D) Relationship management
(E) All of these
Ans : (E)
23. Savings Accounts can be opened by—
(A) All individuals fulfilling KYC norms
(B) All individuals earning more than Rs. 1,00,000 per annum
(C) All individuals above the age of 18
(D) All salaried persons only
(E) All students below the age of 18
Ans : (C)
24. Situation Analysis is useful for—
(A) SWOT Analysis
(B) Analysis of Sales person’s performances
(C) Analysis of capital markets
(D) All of these
(E) None of these
Ans : (A)

IMPORTANT QUESTIONS FOR UPCOMING BANK EXAMS

                                                            IMPORTANT QUESTIONS

1-   Market expansion means-
      (a).  hiring more staff        (b).  firing more staff
      (c)   buying more products(d)  buying more companes  (e) none of these

2-  Call in marketing means-
      a) to visit the customers  b) to phone the customers
      c) to visit the marketing site  d)to call on prospective customers

3-  Effective marketing helps in-
      a) developing new products   b)creating a competitive environment
      c) building demand for product  d)all of these   e) none of these

4- Delivery channel means-
    a) maternity wards    b) handing over the products to the buyer
    c) places where products are made available to the buyers
    d) all of these   e) none of these

5- A good seller should have the following qualities
    a) devotion to the work   b)patience
     c) good knowledge   d) all of the above

6-  Marketing survey means-
 a) market research  b) market planning
 c) market strategies  d)market monitoring

7-  Innovation means-
  a) product designing   b) creating new ideas & thoughtts
  c)market expansion    d) all of these

8- One of the following is a target group for the marketing of internet banking-
   a) all the customers    b) all the educated customers
   c) all the computer educated customers  d)only creditors

9- Internet marketing means-
   a)self marketing    b) core group monitoring
   c) employee marketing  d)all of these  e)

10-Planned-cost service means-
     a) costly product means   b)extra profit on the same cost
     c) extra work by seller     d) all of these


11- Rural marketing is not required because-
     a) rural people do not understand marketing  b)it is wastage of time
     c)it is not practical for cost point of view  d) all are wrongs

12-  In double -win strategy-
    a) customers gets an additional benefit  b) customers get price debate
    c) both a & b       d)none of these
  

DIFFERENT TYPES OF MARKETING

Here’s a list of marketing terms that we hope you find useful:

Online Marketing

Online marketing is any marketing strategy that takes place online. Also referred to as Internet marketing, it encompasses a variety of marketing forms like video advertisements, search engine marketing and e-mail marketing. It is the opposite of offline marketing, and can also fall under digital marketing. Online marketing needs a good approach in areas of design, development and advertising. A company with a total web site marketing plan will have more success online than one that has just designed a web site without thinking of how to market their company through it.

Offline Marketing

Offline marketing, the opposite of online marketing, includes all forms of marketing that aren’t done on the Internet. Examples of offline marketing are local advertising in newspapers and on television. In today’s marketing world, companies are finding ways to leverage their offline marketing campaigns with their online ones, making them complement each other.

Outbound Marketing

When you think of marketing, the different forms you come up with are mostly outbound marketing (also called traditional marketing). In fact, the majority of companies today are using different types of outbound marketing to reach their potential customers. Outbound marketing includes any marketing efforts that are taken to introduce a product or service to someone who isn’t looking for that product or service. Some examples are cold calling, sending newsletters, billboards, and banner ads on different web sites.

Inbound Marketing

Inbound marketing focuses on having your company found by customers, as opposed to reaching out to them directly like in outbound marketing. The important thing to remember here is that a person starts out with the want/need to purchase a product or service, and they go out to find it. When they search for that product/service on a search engine, the search engine results page will show inbound marketing results. Instead of using paid advertisements, inbound marketing is the search engine optimization (SEO) part of web marketing.

Newsletter Marketing

Newsletter marketing and email marketing refer to ways of promoting your company through emails. Typically, a firm using newsletter marketing will have a group of contacts that they will send a newsletter containing some interesting information to. The success of newsletter marketing depends on grabbing attention, writing good content and reaching a large number of potential clients.

Article Marketing

Businesses will often write articles related to the industry they are in and distribute them online and offline. These free articles will inform people about an important topic and give the company that wrote it more credibility within the market. The organization can also include their business contact information in the article, allowing them to get new clients.

Trade Show Marketing

Companies that want to reach a large number of potential customers can participate in public or private trade shows. Trade shows and other forms of event marketing are often a large investment to participate in, but trade shows allow companies to demonstrate new products and examine what is going on in the industry.

Search Marketing

Search engine marketing (SEM) is the way in which companies promote their business through paid placement on search engines like Google. Instead of increasing the organic search results that a website has, companies will pay to have their advertisements in the sponsored section of search engines.

Direct Marketing

Direct marketing’s main goal is to send a message directly to consumers, without having to use any third party outlets. Examples of direct marketing include mail marketing, telemarketing and direct selling. Direct marketing is often preferable because the results can be easily measured, giving the marketer a better understanding of the success of that campaign.

Niche Marketing

When a product or service is not being readily supplied to a certain portion of a market, a company can focus their efforts on that niche to address a need that isn’t currently being addressed. This targeted marketing is successful because the marketer has identified a need that isn’t being resolved by mainstream providers. Sometimes it is beneficial for a company to focus on a niche instead of trying to compete in a larger market.

Drip marketing

Drip marketing is the act of sending out scheduled targeted emails that are all coordinated to a specific goal of client conversion. The sender uses email marketing software that allows them to setup multiple emails at one time and let them “drip” over time. This sometimes includes phone calls to check in on the clients along the way.

Social Media Marketing

Social network marketing and social media campaigns provide a window to market a product or service on the Internet through different social networks. Companies can use these outlets for their marketing, customer service and sales. The most common and successful means of social media marketing are found on sites like Facebook, Twitter, LinkedIn, YouTube and even company blogs.

Referral Marketing

One of the less strategic types of marketing, referral marketing relies on a company’s customers to refer new customers to that company. Also called word of mouth marketing, this is a more spontaneous way of receiving new business, and can not be solely relied on because results aren’t very predictable. However, word of mouth is still a powerful part of a company’s efforts to bring in new business, especially in the social media community where communication travels freely.

Guerrilla Marketing

With a smaller budget, guerrilla marketing makes a splash by relying on energy, timing and unusual approaches to get the consumer’s attention. The unconventional marketing involved tries to get the most out something small, and make a lasting brand image in the consumer’s mind.

Promotional Marketing

Promotional marketing is a common form of marketing strategy that companies use to motivate a consumer to make a decision and purchase their product. There are a number of ways that businesses will promote a product or service, including holding contests to win a prize, offering coupons for purchasing a product at a discount, and having samples of the product so people can experience it before they purchase.

Affiliate Marketing

Affiliate marketing most likely involves four different groups that contribute to the marketing effort. The Merchant is the company that is producing and selling the product, the Network is the outlet that is used to promote the affiliate link, the Publisher or Affiliate is the person who has the website with the affiliate ad and of course the customer doing the purchasing. Affiliate links are found on all types of websites, and they are used to drive traffic to outside websites.

Viral Marketing

This type of marketing relies on the message of a marketer being spread quickly through various social networks in order to increase brand awareness. The name viral marketing stems from the rapid spread of viruses in general. Typically, a viral marketing campaign will not last as long as other marketing efforts, but if a company can come up with a good idea for viral marketing and reach the right people, it will become highly successful in a short amount of time.

B2B Marketing

Any type of business, whether an organization, individual, government or other institution that markets to other businesses is involved in business to business marketing. Since B2B marketing involves companies trying to sell mass quantities of product to one another, there is a more personal relationship that needs to be established between businesses. If your company sells to other businesses, your marketing efforts will most likely be more direct.

B2C Marketing

Business to consumer marketing campaigns try to reach a category of people that will be likely to purchase their product or service. The marketing efforts the company takes should be more broad than B2B, which focuses on specific companies. B2C marketing can involve different marketing techniques such as door to door marketing, promotion marketing, newspaper marketing, television marketing and radio marketing. In today’s marketing world, B2C Internet marketing is becoming more important to reach consumers.

Mobile Marketing

Along with Internet marketing, mobile marketing is part of the newest groups of marketing activities. Companies have been experimenting with the certain ways to reach consumers through their phones, especially with the rise of Apple’s iphone. Some ways to marketing a product or service through a mobile phone include SMS marketing, in-game marketing, banner marketing on different web pages and location based marketing.

Reverse Marketing

This form of marketing is similar to inbound marketing. The goal of reverse marketing is to market a product in a way that will cause the consumer to seek the firm doing the marketing. Reverse marketing can be conducted through such means as television, print and Internet marketing. If a company has a product that solves a problem in the market, they will have more success using reverse marketing because they will seek out that product.

Telemarketing

A form of direct marketing, telemarketing’s focus is on reaching consumers by phone. Most of what we thing of as telemarketing is cold call marketing, which is unpopular and has lead to laws being created against it. However, telemarketing can be effective if the right person is reached on the phone at the right time.

Direct Mail Marketing

Most people receive large quantities of marketing material in the mail, which is considered direct mail marketing. Companies will send paper mail with promotions or other information to a list of addresses, usually in a common geographical area. This form of marketing is also called junk mail by some, because the customers receiving the mail aren’t expecting it and usually don’t want to open it.

Database Marketing

Database marketing is similar to other types of direct marketing, but the focus is more directed towards analyzing data. Companies try to narrow their marketing efforts down to certain groups of people, and they use database marketing to analyze statistics like name, address, or sales history, in order to create the most accurate model possible.

Personalized marketing

The goal of personalized marketing is to create a unique offer for each individual customer. This form of marketing doesn’t work for every company, but certain ones can capitalize on their unique products and customer demographics to market to individuals. With the Internet becoming a more popular place for marketing, companies are finding that personalized marketing is affective in cases when they can track a customer’s specific interests and send them more information for future suggestions.

The Marketing Mix
(The 4 P's of Marketing)

Marketing decisions generally fall into the following four controllable categories:

• Product
• Price
• Place (distribution)
• Promotion

The term "marketing mix" became popularized after Neil H. Borden published his 1964 article, The Concept of the Marketing Mix. Borden began using the term in his teaching in the late 1940's after James Culliton had described the marketing manager as a "mixer of ingredients". The ingredients in Borden's marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingredients into the four categories that today are known as the 4 P's of marketing, depicted below:

The Marketing Mix

These four P's are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four P's on the customers in the target market in order to create perceived value and generate a positive response.

Product Decisions

The term "product" refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made:

• Brand name
• Functionality
• Styling
• Quality
• Safety
• Packaging
• Repairs and Support
• Warranty
• Accessories and services

Price Decisions

Some examples of pricing decisions to be made include:

• Pricing strategy (skim, penetration, etc.)
• Suggested retail price
• Volume discounts and wholesale pricing
• Cash and early payment discounts
• Seasonal pricing
• Bundling
• Price flexibility
• Price discrimination

Distribution (Place) Decisions

Distribution is about getting the products to the customer. Some examples of distribution decisions include:

• Distribution channels
• Market coverage (inclusive, selective, or exclusive distribution)
• Specific channel members
• Inventory management
• Warehousing
• Distribution centers
• Order processing
• Transportation
• Reverse logistics

Promotion Decisions

In the context of the marketing mix, promotion represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response. Marketing communication decisions include:

• Promotional strategy (push, pull, etc.)
• Advertising
• Personal selling & sales force
• Sales promotions
• Public relations & publicity
• Marketing communications budget

Limitations of the Marketing Mix Framework

The marketing mix framework was particularly useful in the early days of themarketing concept when physical products represented a larger portion of the economy. Today, with marketing more integrated into organizations and with a wider variety of products and markets, some authors have attempted to extend its usefulness by proposing a fifth P, such as packaging, people, process, etc. Today however, the marketing mix most commonly remains based on the 4 P's. 

MARKETING VS SELLING

Difference between Selling and Marketing

Marketing is much wider than selling and much more dynamic.

The fundamental differance between the two is that selling revolves around the needs

and interest of the seller.

Where as Marketing revolves around the needs and the interest of the buyers.

Selling is an inside-out perspective. Its starts from factory, focuses on the company's

existing products, and calls for heavy selling and promotion to obtain profitable sales.

Marketing takes an outside-in perspective It starts with a well defined markert, focuses

 on customer needs, co-ordinates all the marketing activities affecting customers,

makes profits by creating customer satisfaction.

******************************************************************

Marketing is primarily about research - identifying potential buyers and then finding the

best way to introduce your product to them.

Selling is about overcoming objections. It is a one to one technique where the seller

 helps the buyer to reach a decision. Selling is when all marketing research is applied at

 the point of sale.

Marketing is an art as well as a numbers game.sales is more of an art only.

Broadly, Marketing creates the atmosphere to make it easy for sales to happen.

Marketing consists things like:

Marketing Strategy,target market etc.

Sales" obviously is getting out and writing the orders ... tough disciplined work. This involves skills like "closing" the sale - very different skills to Marketing

Good sales people do not make good marketers and vice versa ...

A marketer is a creative person, a law unto himself, a person with few boundaries, a person who lives inside the head of your customer, a person who dreams and creates at any/all hours of day and night, a person who can send normal disciplined people crazy.