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NEHRU ARTS AND SCIENCE COLLEGE DEPARTMENT OF BUSINESS ADMINISTRATION Question Bank SUBJECT: MARKETING SEMESTER:III MANAGEMENT CLASS: II BBA (IB) ACADEMIC YEAR: 2016- 2017 UNIT - I Definition of Marketing - Marketing Management- Marketing concept - meaning Importance of marketing in developing countries - Functions of Marketing - Marketing environment: various environmental factors affecting the marketing function. UNIT - II Buyer Behaviour - Buying motives. Market Segmentation - bases - Marketing strategy Market Structure - Definition and types of channel - Channel selection & problems. UNIT - III The Product - Types -consumer goods-industrial goods. Product Life Cycle (PLC) - Product mix - modification & elimination - packing - Developing new Products- strategies. UNIT - IV Pricing: Meaning to Buyer & Seller - pricing policies – Objective factors influencing pricing decisions - Competitors action to price changes – multi product pricing. Physical distribution - Management of physical distribution - marketing risks. UNIT - V Branding Decisions: Brand-Brand Image, Brand Identity-Brand Personality -Positioning and leveraging the brands-Brands Equity. Reference Books: 1. Philip Kotler - Marketing Management 2. Rajan Nair - Marketing Management 3. Cundiff and Still - Fundamentals of modern marketing UNIT - I Definition of Marketing - Marketing Management- Marketing concept - meaning Importance of marketing in developing countries - Functions of Marketing - Marketing environment: various environmental factors affecting the marketing function. UNIT-1 One words 1 Which of the following information forms available to the marketing manager can usually be accessed more quickly and cheaply than other information sources___________ (1) Marketing intelligence (2) Marketing research (3) Internal databases 2 All of the following are considered to be drawbacks of local marketing EXCEPT__________ (1) it can drive up manufacturing and marketing costs by reducing economies of scale. (2) it can create logistical problems when the company tries to meet varied requirements (3) it can attract unwanted competition 3 The biggest or greatest amount of involvement in a foreign market comes through which of the following _________ (1) Exporting (2) Joint venturing (3) Direct investment 4 A ______________ is a good offered either free or at low cost as an incentive to buy a product (1) patronage reward (2) price pack (3) premium 5 Setting call objectives is done during which of the following stages of the selling process ___________ (1) Prospecting (2) Preapproach (3) Approach 6 The __________________ is a person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts influence on others. (1) facilitator (2) referent actor (3) opinion leader 7 Concerns that the manufacturers of harmful products such as tobacco have influence on lawmakers to the detriment of the public interest is used as evidence of which criticism of marketing __________ (1) Too much advertising (2) Too few social goods (3) Too much political power 8 Sellers that handle their own exports are engaged in _______________ (1) Direct exporting (2) Indirect exporting (3) Licensing 9 More and more salespeople are being evaluated and compensated based on different measures than in the past. All of the following are illustrations of those measures EXCEPT: (1) long-term customer satisfaction (2) competitive predatory pricing performance (3) full customer service The total number of items that the company carries within its product lines refers to the 10 ___________ of the product mix. (1) Width (2) Depth (3) Length Successful service companies focus their attention on both their customers and their employees. They understand ___________________, which links service firm profits with 11 employee and customer satisfaction. (1) Internal marketing (2) Service-profit claims (3)Interactive marketing 12 __________________ is quoted as saying that "everyone lives by selling something." (1) Bill Gates (2) Robert Louis Stevenson (3) Henry Ford Anything that can be offered to a market for attention, acquisition, use, or consumption 13 that might satisfy a want or need is called a(n): ______________ (1) Idea (2) Demand (3) Product The type of sales presentation approach that requires good listening and problem-solving 14 skills is the: _______________ (1) Canned approach (2) Formula approach (3) Need-satisfaction approach Successful ________________ depends on how well a company blends its people, organizational structure, decision and reward systems, and company culture into a 15 cohesive program that supports its strategies. (1) Marketing strategy (2) Marketing control (3) Marketing implementation ______________ is the general term for a buying and selling process that is supported by 16 electronic means. (1) Internet commerce (2) Web commerce (3) Electronic commerce _________________ is a principle of enlightened marketing that requires that a company 17 seek real product and marketing improvements (1) Innovative marketing (2) Consumer-oriented marketing(3) Value marketing 18 _______________ factors are the most popular bases for segmenting customer groups. (1) Geographic (2) Demographic (3) Psychographic When Michael Jordan and Tiger Woods use marketing to promote their careers and 19 improve their impact and incomes, they are using ____________ (1) cause-related marketing (2) Idea marketing (3) Person marketing When an international seller sells a plant, equipment, or technology to another country and 20 agrees to take payment in the resulting products, it is called __________ (1) Barter (2) Buy-back (3) Counter purchase 21. Marketing refers to the __________ a) Sale of product b) Goods and services are exchanged to each other c) All of these 22 .In the modern sense marketing is _______ oriented. a) Consumer b) Product c) Sales 23. Marketing is essentially a __________ activity. a) Management b) Selling c) Production 24. Marketing creates __________ for goods and services. a) Customer b) Demand c) Product 25. Marketing provides maximum satisfaction of __________ a) Profits b) Human wants c) All of these 5 Mark Questions 1) Define marketing? What are the objectives of marketing? 2) Bring out the Functions of marketing management? 3) Define marketing concept? What are the benefits of modern concept of marketing? 4) Discuss marketing begins and ends with consumer 5) Explain the importance of marketing in developing countries. 8 Mark Questions 1) Explain briefly the Function of marketing? 2) Discuss clearly the modern concept of marketing? 3) Explain the various environmental factors affecting the marketing function? UNIT - II Buyer Behaviour - Buying motives. Market Segmentation - bases - Marketing strategy Market Structure - Definition and types of channel - Channel selection & problems. UNIT-2 One words 1 Cognitive dissonance occurs in which stage of the buyer decision process model_________ (1) Need recognition (2) Information search (3) Postpurchase behavior 2 That the company that overlooks new and better ways to do things will eventually lose customers to another company that has found a better way of serving customer needs is a major tenet of_________ (1) Innovative marketing (2) Consumer-oriented marketing(3) Value marketing 3 Pricing to cover variable costs and some fixed costs, as in the case of some automobile distributorships that sell below total costs, is typical of which of the following pricing objectives__________ (1) Current profit maximization (2) Product quality leadership (3)Survival 4 In determining salesforce size, when a company groups accounts into different size classes and then determines the number of salespeople needed to call on them the desired number of times, it is called the: _____________ (1) Key-size approach (2) Work-load approach (3) Product-need approach 5 ____________________ are products bought by individuals and organizations for further processing or for use in conducting a business (1) Consumer products (2) Services (3) Industrial products 6 All of the following would be ways to segment within the category of psychographic segmentation EXCEPT: _____________ (1) Social class (2) Occupation (3) Lifestyle 7 The Internet evolved from a network created by _________________ during the 1960s (1) the Commerce department (2) the Massachusetts Institute of Technology (MIT) (3) the Defense department 8 In terms of execution styles, a family seated at the dinner table enjoying the advertised product would be an example of which of the following types of advertising __________ (1) Slice of life (2) Life style (3) Mood or imagery 9 A child in the United States is normally exposed to all of the following values EXCEPT:_______ (1) achievement and success (2) activity and involvement (3)Collectivism 10 The orange juice manufacturers know that orange juice is most often consumed in the mornings. However, they would like to change this and make the drink acceptable during other time periods during the day. Which form of segmentation would they need to work with and establish strategy reflective of their desires ______________ (1) Gender segmentation (2) Benefit segmentation (3) Occasion segmentation 11 The typical method of retail operation used by supermarkets and catalog showrooms is called __________ (1) Self-service retailing (2) Limited-service retailing (3) Full-service retailing 12 Using a successful brand name to introduce additional items in a given product category under the same brand name (such as new flavors, forms, colors, added ingredients, or package sizes) is called a(n): _________ (1) Line extension (2) Brand extension (3) Multibranding 13 When a company enters a new product category for which its current brand names are not appropriate, it will likely follow which of the following brand strategies ___________ (1) Product extensions (2) Brand extensions (3) New brands 14 ________________ consists of dividing a market into distinct groups of buyers on the basis of needs, characteristics, or behavior who might require separate products or marketing mixes (1) Product differentiation (2) Market segmentation (3) Market targeting 15 _________________ are ads that appear while subscribers are surfing online services or Web sites, including banners, pop-up windows, "tickers," and "roadblocks." (1) Online infomercials (2) Online ads (3) Online broadcasts 16 In terms of special product life cycles, a _____________ is a basic and distinctive mode of expression (1) Genre (2) Style (3) Fashion 17 Many U.S. firms have sought relief from foreign competition by demanding protectionism policies by the U.S. government. A better way for companies to compete is to expand into foreign markets and: ___________ (1) Lower prices (2) continuously improve their products at home.(3) increase promotion both at home and abroad 18 It is a fact that there are 24 million left-handed people in the United States, however, most marketers do not attempt to appeal to or design products for this group because there is little in the way of census data about this group. Therefore, this group fails in one of the requirements for effective segmentation. Which of the following is most likely to apply in this case ___________ (1) Actionable (2) Substantial (3) Measurable 19 The fact that services are sold, produced, and consumed at the same time refers to which of the following service characteristics ___________ (1) Intangibility (2) Inseparability (3) Variability A manufacturer has four sponsorship options. A _________________ is a brand created 20 and owned by a reseller of a product or service. (1) Licensed brand (2) (3) Private brand 3M runs a Pollution Prevention Pays program that has led to a substantial reduction in pollution and costs. This would be an example of responding to which of the following 21 __________ (1) (2) The "green movement (3) Government regulation The stage is the product life cycle that focuses on expanding market and creating product 22 awareness and trial is the: __________ (1) Decline stage (2) Introduction stage (3) Growth stage Regulations that arise to ensure that firms take responsibility for the social costs of their products or production processes stem from which reason for government legislation of 23 business (1) To protect companies from each other (2) To protect consumers from unfair business practices. (3) To protect the interests of society. 24. Which concept of marketing is product oriented _________ a) Old concept of Marketing b) Modern concept of marketing b) Entity concept of business 25. Product include __________ b) Ideas b) Services c) All of these 5 Mark Questions 1) Explain the importance of buying motives? 2) Define Channels of distribution? What are the basic channels of distribution? 3) Define marketing strategy? List out the factors affecting overall marketing strategy. 4) Write a short note on the market structure? 5) Describe the channel selection and problems 8 Mark Questions 1) Define market segmentation? Explain the various bases for market segmentation. 2) Briefly explain the Market structure 3) Explain briefly the types of channels distribution? UNIT - III The Product - Types -consumer goods-industrial goods. Product Life Cycle (PLC) - Product mix - modification & elimination - packing - Developing new Products- strategies. UNIT-3 1 Which of the following promotional budget methods wrongly views sales as the cause of promotion rather than as the result ___________ (1) Affordable method (2) Percentage-of-sales method (3)Comparative-parity method 2 If the field salesforce has been supplied with new leads (via the telephone) that have been qualified, they have probably been assisted by: ___________ (1) Master salespersons (2) Sales assistants (3) Telemarketers 3 Rolls Royce uses which of the following distribution formats ____________ (1) Intensive distribution (2) Exclusive distribution (3)Selective distribution 4 Drop shippers perform which of the following functions _________ (1) Assumes title and ships coal, lumber, or heavy equipment to a buyer (2) Stocks the bread rack in a grocery store (3) Maintains, owns, and stocks a CD display in a grocery store. 5 A set of interdependent organizations involved in the process of making a product or service available for use or consumption by the consumer or business user is called a(n): ________ (1) Retailer (2) Wholesaler (3) Distribution channel 6 ______________ beliefs and values are open to some degree of change. (1) Crucial (2) Primary (3) Secondary 7 In evaluating messages for advertising, telling how the product is better than the competing brands aims at making the ad: ___________ (1) Meaningful (2) Distinctive (3) Believable 8 When an importing country sets limits on the amount of goods it will accept in certain product categories it is called a(n): ___________ (1) Quota (2) Barrier (3) Tariff 9 According to the price/quality strategy matrix, when a company overprices its product in relation to its quality it is considered to be using which type of strategy __________ (1) Good-value strategy (2) Premium strategy (3) Over-charging strategy ___________________ is the practice of adopting policies and developing strategies that 10 both sustain the environment and produce profits for the company (1) Environmentalism (2) Environmental sustainability (3)Consumerism A ________________ is a promotion strategy that calls for using the sales force and trade 11 promotion to move the product through channels. (1) Push strategy (2) Pull strategy (3) Blocking strategy Consumer goods with unique characteristics or brand identification often requiring a 12 special purchase effort are called: ___________ (1) Custom products (2) Speciality products (3) Convenience products Even though buying roles in the family change constantly, the ___________ has 13 traditionally been the main purchasing agent for the family. (1) Wife (2) Husband (3) Teenage children A(n) _______________________ is a retail store that carries a narrow product line with a 14 deep assortment within that line. (1) Shopping goods store (2) Convenience store (3) Speciality store Which of the following is NOT one of the five stages of the buyer decision process 15 _________ (1) need recognition (2) brand identification (3) information search A _____________ is a need that is sufficiently pressing to direct the person to seek 16 satisfaction (1) Motive (2) Want (3) Demand If a firm were to bid to do a "turnkey" operation where they would choose a building site, designing a cement factory to build the plant, hire construction crews, assemble materials 17 and equipment to run the new factory, and turn over the finished factory ready to operate to the owners, the firm would be using which of the following ___________ (1) Core process products selling (2) Design products selling (3)System selling According to the text, the most dramatic of the environments that affect marketing and 18 appears to be now shaping our world is the ________________ environment. (1) Natural (2) Demographic (3) Technological The "in" suppliers are most likely to get nervous and feel pressure to put their best foot 19 forward in which of the following types of buying situations _____________ (1) Modified rebuy (2) new task buying (3) Straight rebuy _________________ is the step in the selling process in which the salesperson learns as 20 much as possible about a prospective customer before making a sales call (1) Prospecting (2) Preapproach (3) Approach 21 The stages involved in new product development are _________ b) Idea screening b) Generating new ideas c) All of these 22 The product is a bundle of __________ that a customer buys. b) Features b) Satisfaction c) Conveniences 23 Four P’s of marketing were given by __________ b) McCarthy b) H.Fayol c) Peter Drucker 24 The product personality does not include __________ b) Price b) Product constituent c) Brand name 25 Product life cycle characteristics consists of _________ c) Customers b) Advertising c) All of these 5 Mark Questions 1) Define product mix? What are the factors that determine product mix? 2) What is packaging? Explain the types of package. 3) Explain the various methods of product modification. 4) Describe the elimination of the product. 5) Explain the strategies of the new products. 8 Mark Questions 1. Define product? Explain the consumer goods and industrial goods? 2. What is product life cycle? Describe the various stages in the product life cycle? 3. Define new product development? Explain briefly the process of new product development? UNIT - IV Pricing: Meaning to Buyer & Seller - pricing policies – Objective factors influencing pricing decisions - Competitors action to price changes – multi product pricing. Physical distribution - Management of physical distribution - marketing risks. UNIT-4 1 Traditionally, companies have defined their businesses in product terms or in technological terms. However, mission statements should be all of the following EXCEPT: __________ (1) Market oriented (2) A statement of religion (3) Motivating 2 A price reduction to buyers who buy in large volumes is called a(n): _________ (1) Quantity discount (2) Cash discount (3) Seasonal discount 3 R&D and engineering first produce the product concept into a physical product during which of the following stages of the new product development process __________ (1) Marketing strategy (2) Business analysis (3) Product development 4 All of the following are criticisms leveled against marketing by critics EXCEPT: ________ (1) harming consumers through high prices (2) harming consumers through high-pressure selling (3) harming consumers through too many product choices. 5 If Toyota describes one of its cars of the future as being "a moderately priced subcompact designed as a second family car to be used around town; the car is ideal for running errands and visiting friends," then the company has just stated a potential new product in terms of a(n): ___________ (1) Product idea (2) Product image (3) Product concept 6 The primary reason that many companies work to become the "low-cost producers" in their industry is because: ____________ (1) they can generate more advertising (2) they can please top management. (3) they can set lower prices that result in greater sales and profits 7 Conflicts between different levels of the same channel of distribution are referred to as: _________ (1) Horizontal conflicts (2) Vertical conflicts (3) Layer-basedconflicts 8 A company is practicing ________________ if it focuses on subsegments with distinctive traits that may seek a special combination of benefits (1) Micromarketing (2) Niche marketing (3) Mass marketing 9 If a consumer describes a car as being the "most economical car on the market," then this descriptor is a: ___________ (1) Rule (2) Attitude (3) Belief All of the following are commonly recognized promotion budget formats EXCEPT: 10 __________ (1) the affordable method (2) the LIFO method (3) the percentage-of-sales method _______________ is a strategy of using a successful brand name to launch a new or 11 modified product in a new category. (1) Duobranding (2) Line extension (3) Brand extension The fact that services cannot be stored for later use or sale is evidence of their: 12 ___________ (1) Intangibility (2) Inseparability (3) Perishability _________________ is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and 13 compelling message about the organization and its products. (1) The promotion mix (2) Integrated international affairs (3)Integrated marketing communications Catalog marketing is big business in the United States. The average household receives 14 ______________ catalogs per year (1) 25 (2) 50 (3) 75 A company faces several major decisions in international marketing. The first of these decisions is often: ____________ 15 (1) deciding whether to go international (2) looking at the global marketing environment (3) deciding which markets to enter 16 A ____________________ is the way consumers perceive an actual or potential product (1) Product idea (2) Product image (3) Product concept The American Marketing Association suggests a list of code of ethics. All of the following are ethics suggested in the area of distribution EXCEPT: _____________ 17 (1) not manipulating the availability of a product for purpose of exploitation. (2) not using coercion in the marketing channel. (3)using gray marketers whenever possible to save the consumer money. All of the following are methods by which a company can divide up its sales responsibilities EXCEPT: ____________ 18 (1) territorial sales force structure (2) psychographic trait sales force structure (3) product sales force structure. If your company were to make a product such as a suit of clothes and sold that product to a 19 retailer, your company would have sold to the ___________ market. (1) Reseller (2) Business (3) Government 20 The most logical budget setting method is found in the list below. Which is it __________ (1) Affordable method (2) Percentage-of-Sales method (3)Objective-and-task method The place in the business buying behavior model where interpersonal and individual 21 influences might interact is called the: __________ (1) Environment (2) Response (3) Buying center 22 The product is a bundle of ________ that a customer buys (a) features(b) preferences (c) satisfaction 23. Four P’s of marketing were given by ___________ (a) H.Fayol(b) Peter Drucker(c) McCarthy 24. Prices are kept very high in ________ pricing policies (a) skimming(b) penetration (c) customary 25. Physical distribution _________ (a) is consent mainly with speed of delivery(b) is used only by manufacturers(c) involves the movement of products from producers to end-users 5 Mark Questions 1. Explain the factors influencing pricing decisions. 2. What are the basic pricing policies? Explain them briefly. 3. Explain briefly the procedure for price determination 4. Write a note on penetration pricing strategy. 5. Discuss the various methods of pricing. 8 Mark Questions 1. What is pricing? Discuss the various kinds of pricing. 2. What do you mean by physical distribution? Explain the importance and elements of physical distribution. 3. Explain the factors influencing price determination. UNIT - V Branding Decisions: Brand-Brand Image, Brand Identity-Brand Personality -Positioning and leveraging the brands-Brands Equity. UNIT-5 1. When producers, wholesalers, and retailers act as a unified system, they comprise a _________ (1) Conventional marketing system (2) Power-based marketing system (3) Vertical marketing system 2. One common misuse of marketing research findings in contemporary business is the tendency for marketing research to ____________ (1) Market place (2) become a vehicle for discriminating in the marketplace(3) become a means for raising prices. 3. ________________ has the advantage of being high in selectivity; low cost; immediacy; and interactive capabilities (1) Direct mail (2) Outdoor (3) Online 4. The choice between high markups and high volume is part of which of the following retailer marketing decisions ______________ (1) Target market decisions (2) Product assortment and services decisions (3) Pricing decisions 5. If an advertiser wants flexibility, timeliness, good local market coverage, broad acceptability, and high believability, the advertiser will probably choose which of the following mass media types ______________ (1) Newspapers (2) Television (3) Direct mail 6. If your company were to make light bulbs to be used in photocopiers, you would most likely be selling to a ________________ market (1) Reseller (2) Business (3) Government 7. A(n) _______________ is a name, term, sign, symbol, or design, or a combination of these that identifies the maker or seller of a product or service (1) Product feature (2) Sponsorship (3) Brand 8. All of the following factors can affect the attractiveness of a market segment EXCEPT: ________ (1) the presence of many strong and aggressive competitors (2)the likelihood of government monitoring (3) actual or potential substitute products 9. A _______________ is any activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything (1) Demand (2) Product (3) Service 10. If Mark Mars pays Hershey Foods Corporation for the right to use their name on his line of T-shirts, then Mr. Mars is using which type of branding ___________ (1) Licensed brand (2) (3) Private brand 11. The _______________ holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency). (1) product concept (2) production concept (3) production cost expansion concept 12. A company is in the ______________ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product (1) Product development (2) Commercialization (3) Marketing strategy 13. Joining with foreign companies to produce or market products and services is called: __________ (1) Direct exporting (2) Indirect exporting (3) Joint venturing 14. The major advantage of survey research is its: ___________ (1) Simplicity (2) Structure (3) Flexibility 15. The type of salesforce structure in which the salesforce sells along product lines is called a: ______________ (1) territorial salesforce (2) product salesforce (3) customer salesforce 16. A "three-day cooling off period" in which buyers can cancel a contract after re-thinking it is to protect the consumer from: ___________ (1) creative selling (2) high pressure selling (3) detail selling 17. The practice of going after a large share of a smaller market or subsets of a few markets is called: ___________ (1) undifferentiated marketing. (2) differentiated marketing (3)Concentrated marketing 18. When Coca-Cola and Nestle formed a joint venture to market a ready-to-drink coffee and tea worldwide, the type of marketing system that was formed would best be described as being a(n): _____________ (1) vertical marketing system (2) parallel marketing system (3)horizontal marketing system 19. If Honda uses its company name to cover such different products as its automobiles, lawn mowers, and motorcycles, it is practicing which of the following strategies ____________ (1) new brand strategy (2) line extension strategy (3) brand extension strategy 20. The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is called ____________ (1) Marketing strategy (2) Marketing control (3) Marketing implementation 21. One of the most promising developments in multivariable segmentation is called _________________ where a host of demographic and socioeconomic factors are used. (1) terragraphic segmentation (2) fermagraphic segmentation (3)geodemographic segmentation 22. Marketers are sometimes accused of deceptive practices that lead consumers to believe they will get more value than they actually do. ______________ includes practices such as falsely advertising "factory" or "wholesale" prices or a large price reduction from a phony high retail price. (1) Deceptive promotion (2) Deceptive packaging (3) Deceptive pricing 23. Sources of brand image ________ (a) Provider driven(b) Product driven (c) all of the above 24. Brand personality is the __________ of brand in human terms (a) visualization(b) Specification (c) Perception 25. Consumer behavior consists of all human ________that go in making purchase decisions (a) behavior(b) code of conduct (c) character 5 Mark Questions 1. What is Brand? Explain the various kinds of brand. 2. What is meant by brand personality? Explain the types of brand personalities 3. What are the features of a good brand? 4. What are the advantages of branding from the point of view of procedures? 5. Briefly explain the various categories of brand’s assets. 8 Mark Questions 1. What is brand identity and why it is important for a brand? Explain by depicting certain sources of brand identity. 2. Explain brand equity and its significance. What are the factors that derive brand equity. 3. Define Branding. Explain its merits and demerits.