Lesson-1 on Marketing

Question: What is Marketing?

Answer:
Marketing is the performance of business activity that directs the flow of goods & services from producer to
consumer.
Marketing Activities
01. Selling
02. Distribution
03. Promotion
04. Pricing.
Marketing Mix
01. Product
02. Price
03. Place
04. Promotion
05. Packaging
Question: What do you mean by tailored Marketing?
Answer:
Design your product based on consumers desire.
Question: What do you mean by Marketing Myopia?
Answer:
Sellers who concentrate their thinking on the physical products instead of the customers need are said to
suffer from marketing myopia.
Question: What are the differences between Marketing concept & Selling Concept?
Answer:
Marketing Concept
Based on consumer needs.
Profit through customer satisfaction
Pull the products
Selling Concept
Focuses only on the products
Profit through sales volume
Push the products.
Question: What do you mean by Market Segmentation?
Answer:
Market Segmentation
Dividing the market into various group of consumers having different needs.
1. Geographic Segmentation (Segmentation by Nation, City, States)
2. Demographic (Segmentation by Age, Sex, Income, Education etc.)
3. Psychographic (Life style, Personality)
4. Behavioral
Question: What do you mean by Market Positioning?
Answer:
Arranging for a product to occupy a clear, distinctive & desirable place relative to competing products in the
minds of target customers.

Question: What do you mean by Cash Cow?

Answer:
These are established & successful business unit need less involvement /improvement.
High business share in the market.
Generates a lot of cash from the business
Question: What do you mean by Marketing Strategy?
Answer:
Marketing Strategy
A systematic course of action and allocation of resources to achieve company objectives.
Question: What are different types of marketing strategy for Banks?
Answer:
01. Defensive strategy
02. Offensive Strategy
03. Rationalization strategy
Question: What are Major characteristics of Bank Services?
Answer:
01. Intangibility
02. Inseparability
03. Geographical Dispersion
04. Highly individualized marketing System
05. Lack of Special identity (Products are very much similar among Banks)
06. Wide range of products & Services

Lesson-2 on Marketing

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Question: What is Integrated Marketing Tools?

Answer:
A management concept that is designed to make all aspects of marketing communication such as advertising,
sales promotion, public relations, and direct marketing work together as a unified force, rather than permitting
each to work in isolation.
Advertising
Sales Promotion
Public Relations
Direct Marketing
Personal Selling
Question: What is Customer value?
Answer:
Customer value is the difference between the values the customer gains from owning and using a product and
the costs of obtaining the product.
Question: What is Relationship Marketing?
Answer:
Relationship Marketing is the process of creating, maintaining , and enhancing strong, value-laden relationship
with customer and other stakeholders.
Question: What is Demarcating?
Answer:
Demarketing is the marketing to reduce demand temporarily or permanently. The aim of Demarketing is not to
destroy demand, but only to reduce or shift it.

Question: What is production concept in Marketing?

Answer:
The philosophy that consumers will favor products that are available and highly affordable and management
should therefore focus on improving production and distribution.
Question: What is Product Concept in Marketing?
Answer:
The idea that consumers will favor products that offer the most quality, performance and features and the
organization should therefore devote its energy to making continuous product improvements
Question: What is selling Concept in Marketing?
Answer:
The idea that consumers will not buy enough of the organizations products unless the organization undertakes a
large-scale selling and promotion effort.
Question: What Societal Marketing Concept in Marketing?
Answer:
The societal marketing concept holds that the organization should determine the needs, wants, and interests of
target markets. It should then deliver superior value to customers in a way that maintains or improves the
consumers and the societys well-being.

Lesson-3 on Marketing
Question: What is Marketing Intelligence?
Answer:
Marketing intelligence is everyday information about developments in the marketing environment that helps
managers prepare and adjust marketing.
Question: Who are the Opinion Leader in Marketing?
Answer:
Opinion within reference group who exert influence on others, because of special skills, knowledge,
personality, or other characteristics,.
Question: What is Perception?
Answer:
Perception is the process by which people select, organize and interpret information to form a meaningful
picture of the world.
Question: What is Belief?
Answer:
A belief is a descriptive though that a person has about something. These beliefs may be based on real
knowledge, opinion, or faith, and may or may not carry an emotional charge.
Question: What is Attitude?
Answer:
A persons consistently favorable or unfavorable evaluations , feelings and tendencies toward an object or
idea.
Question: What is Complex Buying Behavior in Marketing?
Answer:
Consumer undertake complex buying behavior when they are highly involved in a purchase and perceive
significant differences among brands. Consumers may be highly involved when the product is expensive, risky ,
purchased infrequently and ;highly self-expressive.
Question: What is Dissonance Reducing Buyer Behavior?
Answer:

Dissonance-reducing buying behavior occurs when consumers are highly involved with an expensive,
infrequent, or risky purchase, but see little difference among brands.
Question: What is Habitual Buying Behavior?
Answer:
Habitual buying behavior occurs under the conditions of low consumer involvement and little significant brand
difference. For example, take salt.
Question: What is Variety-Seeking Buying Behavior?
Answer:
Consumers undertake variety-seeking behavior is situation characterized by low consumer involvement, but
significant perceived brand differences. In such cases, consumers often do a lot of brand switching.
Question: What is Cognitive dissonance?
Answer:
Cognitive dissonance is the buyer discomfort caused by post purchase conflict.

Lesson-4 on Marketing
Question: What is Marketing Intelligence?
Answer:
Marketing intelligence is everyday information about developments in the marketing environment that helps
managers prepare and adjust marketing.
Question: Who are the Opinion Leader in Marketing?
Answer:
Opinion within reference group who exert influence on others, because of special skills, knowledge,
personality, or other characteristics,.
Question: What is Perception?
Answer:
Perception is the process by which people select, organize and interpret information to form a meaningful
picture of the world.
Question: What is Belief?
Answer:
A belief is a descriptive though that a person has about something. These beliefs may be based on real
knowledge, opinion, or faith, and may or may not carry an emotional charge.
Question: What is Attitude?
Answer:
A persons consistently favorable or unfavorable evaluations , feelings and tendencies toward an object or
idea.
Question: What is Complex Buying Behavior in Marketing?
Answer:
Consumer undertake complex buying behavior when they are highly involved in a purchase and perceive
significant differences among brands. Consumers may be highly involved when the product is expensive, risky ,
purchased infrequently and ;highly self-expressive.
Question: What is Dissonance Reducing Buyer Behavior?
Answer:
Dissonance-reducing buying behavior occurs when consumers are highly involved with an expensive,
infrequent, or risky purchase, but see little difference among brands.

Question: What is Habitual Buying Behavior?

Answer:
Habitual buying behavior occurs under the conditions of low consumer involvement and little significant brand
difference. For example, take salt.
Question: What is Variety-Seeking Buying Behavior?
Answer:
Consumers undertake variety-seeking behavior is situation characterized by low consumer involvement, but
significant perceived brand differences. In such cases, consumers often do a lot of brand switching.
Question: What is Cognitive dissonance?
Answer:
Cognitive dissonance is the buyer discomfort caused by post purchase conflict.
Question: What is personality?
Answer:
Personality is a persons distinguishing psychological characteristics that lead to relatively consistent and
lasting responses to his or her own environment.

Lesson-5 on Marketing
Question: What is system buying?
Answer:
System buying is a buying packaged solution to a problem and without all the separate decision involved.
Question: What is time series analysis?
Answer:
Time series analysis is the breaking down past sales into its trend, cycle, season and erratic components, then
recombining these components to produce a sales forecast.
Question: What is undifferentiated Marketing?
Answer:
Undifferentiated Marketing is a market-coverage strategy in which a firm decides to ignore market segment
differences and go after the whole market with one offer.
Question: What is Differentiate Marketing?
Answer:
Differentiate Marketing is a market-coverage strategy in which a firm decides to target several market
segments and designs separate offers for each.
Question: What is Concentrated Marketing?
Answer:
Concentrated marketing is market-coverage strategy in which a firm goes after a large share of one or a few
submarkets.
Question: What is Core Product in Marketing?
Answer:
Core product is the problem-solving services or core befits that consumers are really buying when they obtain
a product.
Question: What is Actual Product in Marketing ?
Answer:
Actual product is a products parts, quality level, features , design, brand name, packaging and other attributes
that combine to deliver core product benefits.

Lesson-6 on Marketing
Question: What is Augmented product in Marketing?
Answer:
Augmented product is the additional consumer services and benefits built around the core and actual
products
Question: What are convenience products in Marketing?
Answer:
Convenience products are the consumer products that the customer that the customer usually bus frequently,
immediately and with a minimum of comparison and buying effort. For example, Toothpaste.
Question: What are Shopping products in Marketing?
Answer:
Shopping products are the consumer goods that the customer, in process of selection and purchase,
characteristically compares on such bases as suitability, quality, price and style. For example, Television.
Question: What is specialty products in Marketing?
Answer:
Specialty products are the consumer products with unique characteristics or brand identification for which a
significant group of buyers is willing to make a special purchase effort. For example, luxury goods , such as
Rolex watches.
Question: What is Unsought product in Marketing?
Answer:
Unsought products are the consumer products that the consumer either does not know about or knows about
but does not normally think of buying. For example, Life Insurance.
Question: What is Brand in Marketing ?
Answer:
Brand is a name, term, sign, symbol or design, or a combination of these intended to identify the goods or
services of one seller or group of sellers and to differentiate them from those of competitor.
Question: What is product life Cycle(PLC) ?
Answer:
Product Life Cycle refers to the course of a products sales and profit over its lifetime. It involves five distinct
stages : product development , introduction , growth, maturity and decline

Lesson-7 on Marketing
Question: What is Value-base pricing?

Answer:
Value-based pricing is setting price based on buyers perceptions of value rather than on the sellers cost.
Question: What is Market-skimming pricing?
Answer:
Marketing-skimming pricing is setting a high price for a new product to skim maximum revenues layer by layer
from the segments wiling to pay the high price. In that pricing, the company makes fewer but more profitable
sales.
Question: What is Market-penetration pricing?
Answer:
Market-penetration is setting a low price for a new product in order to attract a large number of buyer and a
large market share.

Question: What is Vertical Marketing System?

Answer. A Vertical Marketing System is distribution channel structure in which producers, wholesalers, and
retailers act as unified system. One channel member owns the others, has contracts with them, or has so much
power that they all cooperate.
Question: What is Department Store?
Answer:
Department store is a retail organization that carries a wide variety of product lines-typically clothing, home
furnishings and household. Each line is operated as a separate department managed by specialist buyers or
merchandisers.
Question: What is Supermarket?
Answer:
Supermarkets is a large, low-cost, low-margin, high-volume, self-service stores that carry a wide variety of
food, laundry and household products.
Question: What is Superstore?
Answer:
Superstore is a store almost twice the size of a regular supermarket that carries a large assortment of routinely
purchased food and nonfood items and offers such services as dry cleaning , post offices , photo finishing ,
check cashing, bill paying, lunch counters, car care and pet care.
Question: What is Hypermarket?
Answer:
Hypermarkets are huge stores that combine supermarket, discount, and warehouse retailing; in addition to food ,
they carry furniture, appliances, clothing, and many other products.

Lesson-8 on Marketing
Question: What is Franchise?
Answer:
Franchise is a contractual association between a manufacture, wholesaler, or service organization (a
franchiser) and independent businesspeople (franchisees) who buy the right to own and operate one or more
units in the franchise system.
Question: What is informative advertising?
Answer:
Informative advertising is a advertising used to inform consumers about a new product or feature and to build
primary demand.
Question: What is Persuasive Advertising?
Answer:
Persuasive advertising is a advertising used to build selective demand for a brand by persuading consumers
that it offers the best quality for their money.
Question: What is Fads in Marketing?
Answer:
Fads is the fashion that enter quickly are adopted with great zeal, peak early and decline very fast.
Question: What is Growth-share Matrix in Marketing?
Answer:
Growth-share matrix is a portfolio-planning method that evaluates a companys strategic business units (SBU)
in terms of their market growth rate and relative market share. SBUs are classified as stars, cash cows,
question marks, or dogs.

Question: What is Market Nicher in Marketing?

Answer:
Market Nicher is a firm in an industry that serves small segments that the other firms overlook or ignore.
Question: What is Zone pricing?
Answer:
Zone pricing is a geographic pricing strategy in which the company sets up two or more zones. All customers
within a zone pay the same total price. The more distant the zone, the higher the price.