MARKETING APTITUDE

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1) What is SWOT? – Strengths, Weaknesses, Opportunities and Threats

2) What would be the most important criteria for a person going to open a Savings Bank (SB)
account in a bank? – Standard of Service

3) What would be the most important criteria for a person going to open a Fixed Deposit (FD)
account in a bank? – Rate of Interest

4) What is the meaning of TQM, a term often used in Marketing? – Total Quality Management

5) What are the 4 P’s of Marketing? – Product, Price, Place and Promotion

6) What is the importance of 4 P’s of Marketing? – these 4 P’s are together and collectively called
basic elements of Marketing

7) What is another popular name given to 4 P’s? – Marketing Mix

8) What is meaning of Marketing Mix? – Marketing Mix are the combination of variables chosen by
a firm to prepare its market offering

9) Marketing Mix is which type of variable? – Controllable Variable

10) What is meaning of Controllable Variable in Marketing? – Those variables which can be
controlled or influenced at the level of the firm

11) A practical example of controllable variable – When a competitor reduces the price of its product
the firm in question can either reduce the price of its product or can differentiate the product (this can
be done by the firm itself)

12) A practical example of an uncontrollable variable – When the Govt. puts a ban on selling tobacco
products in plastic packing, a firm has no other option left but to follow the order (it is therefore
uncontrollable variable)

13) What is the meaning of Product in Marketing’s 4 P’s? – It means goods or services or anything of
monetary value which is offered in the market for exchange

14) What is the meaning of Price in Marketing’s 4 P’s? – Price is the amount of money customers
have to pay to acquire ownership of the product or service

15) What is the meaning of Place in Marketing’s 4 P’s? – Place is generally physical distribution
activities that make firm’s products to the target customers

16) What is the meaning of Promotion in Marketing’s 4 P’s? – Promotion includes activities that
communicate availability of a product or service

17) Can only products and services be marketed? – No, other than product and service ideas, places,
persons, experience, events, information, properties can also be marketed

18) Which is a wider concept – Marketing or Selling? – Marketing

19) What is Selling? - Selling is only a part of the process of marketing and is concerned with
promoting and transferring possession and ownership of goods from the seller to the buyer

20) In context of selling, how wide is the concept of marketing? - Marketing is a much wider term consisting of number of activities such as identification of the customer’s needs, developing the products to satisfy these needs, fixing prices and persuading the potential buyers to buy the same


Marketing Snippets
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1. DSA means – Direct Sales Agent
2. USP means – Unique Selling Proposition
3. What is meaning of a prospect in marketing language? - A likely buyer
4. What is the meaning of ‘close a call’ in marketing lingo? – To clinch a sale
5. What is ‘Target Group’ in marketing? – Persons who could be likely buyers of a product or service
6. A Call in Marketing means – to call on prospective customers
7. What is delivery channel in marketing? - places where products are made available to the buyers
8. What would be the target market for marketing of Internet Banking Services of a commercial bank? - All the computer educated customers of the Bank