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B Com Exam  >  B Com Tests  >  Principles of Marketing  >  Test: Product - 2 - B Com MCQ

Test: Product - 2 - B Com MCQ


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10 Questions MCQ Test Principles of Marketing - Test: Product - 2

Test: Product - 2 for B Com 2024 is part of Principles of Marketing preparation. The Test: Product - 2 questions and answers have been prepared according to the B Com exam syllabus.The Test: Product - 2 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Product - 2 below.
Solutions of Test: Product - 2 questions in English are available as part of our Principles of Marketing for B Com & Test: Product - 2 solutions in Hindi for Principles of Marketing course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Product - 2 | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study Principles of Marketing for B Com Exam | Download free PDF with solutions
Test: Product - 2 - Question 1
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What does branding mean?

Detailed Solution for Test: Product - 2 - Question 1
Branding involves naming a product, creating a symbol or mark, and giving a product an identity. It is a means of communication that distinguishes a product from others and creates a unique identity for it.
Test: Product - 2 - Question 2
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What is the role of branding in marketing?

Detailed Solution for Test: Product - 2 - Question 2
Branding plays a crucial role in marketing. It helps in product differentiation, making the product stand out from competitors. It acts as a promotional tool, creating awareness and preference for the product. It also protects the market for the product, as consumers tend to stick to branded products they trust.
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Test: Product - 2 - Question 3
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Why is branding considered a massive asset?

Detailed Solution for Test: Product - 2 - Question 3
Branding is considered a massive asset because it has a high market value. Unlike physical assets that can be easily duplicated, a brand name is unique and difficult to replicate. Brands can have significant financial worth and contribute to the overall value of a company.
Test: Product - 2 - Question 4
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How does branding benefit manufacturers?
Detailed Solution for Test: Product - 2 - Question 4
Branding benefits manufacturers in multiple ways. It gives their products individuality, making them stand out from competitors. It helps in controlling product prices, as consumers are willing to pay a premium for branded products. It also increases their bargaining power with dealers, as branded products are easier to sell and preferred by consumers.
Test: Product - 2 - Question 5
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What is the advantage of branding for wholesalers and retailers?
Detailed Solution for Test: Product - 2 - Question 5
Branding provides several advantages for wholesalers and retailers. It leads to quicker sales, as branded products are easier to sell and have higher demand. It makes advertising and product display easier, as consumers are already familiar with the brand. It also increases market share and gives wholesalers and retailers more control over the market.
Test: Product - 2 - Question 6
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How does branding benefit consumers?
Detailed Solution for Test: Product - 2 - Question 6
Branding benefits consumers in various ways. It ensures product quality, as branded products are known for their standards and consistency. It protects them against cheating, as branded products have clear pricing and information on expiry dates and manufacturing details. It also reflects their lifestyle, as consumers can choose brands that align with their preferences and values.
Test: Product - 2 - Question 7
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Give an example of segment redefinition in the market.
Detailed Solution for Test: Product - 2 - Question 7
One example of segment redefinition in the market is the launch of a low-priced detergent powder like Nirma. It shifted consumers from the high price segment to the low price segment by offering a quality product at a significantly lower price. This redefined the market and led to the introduction of more low-priced detergent powders.
Test: Product - 2 - Question 8
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What is segment redefinition in branding?
Detailed Solution for Test: Product - 2 - Question 8
Segment redefinition refers to shifting consumers from a high price segment to a low price segment or vice versa. It involves changing the perception of the market and attracting consumers from different price segments through branding strategies.
Test: Product - 2 - Question 9
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How does branding help in introducing new products?
Detailed Solution for Test: Product - 2 - Question 9
Branding helps in introducing new products by leveraging past brand reputation. Consumers who trust a particular brand are more likely to try new products from the same company. Retailers are also more willing to recommend new products if they have a strong brand behind them. This makes the introduction of new products easier and increases their chances of success.
Test: Product - 2 - Question 10
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What is the advantage of branding for consumers in terms of pricing?
Detailed Solution for Test: Product - 2 - Question 10
Branded products have more stable prices compared to unbranded products. The prices of branded products are printed on the packaging, ensuring that consumers are not overcharged. This stability in pricing allows consumers to make informed purchasing decisions and prevents price manipulation by retailers.
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Important Questions for Product - 2

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Product - 2 MCQs with Answers

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