Test: Marketing Awareness - Bank Exams MCQ

Market communication means to make customers aware about the products/services and features of products/services manufactured/dealt by the Company. It is an essential element of marketing system. Mainly, it relies upon the extent to which the messages about the products and services for its promotion are delivered to general public, its customers and general stakeholders. This is the supreme feature that fits at the best for the activity of marketing communication. Other options are under the 4P's of marketing mix.

This is a form of marketing in which a company and a charity team up together to tackle a social or environmental problem and create business value for the company at the same time. So, anti-tobacco campaign is an example of cause marketing. Cause marketing is a marketing done by a for-profit business that seeks to both increase profits and to better society in accordance with corporate social responsibility.

On the basis of nature of product, a market can be classified in two types:
1. Commodity market (Tea market)
2. Financial market (Share market, Bullion market)
Local market is classified on the basis of area.

A duopoly is a form of oligopoly occurring when two companies control all or most of the market for a product or service. Duopolies sell to consumers in a competitive market where the choice of an individual consumer cannot affect the firm. There are two principal duopoly models -- Cournot duopoly and Bertrand duopoly.

Television is a form of electronic media. Electronic media are media that use electronics or electromechanical audience to access the content. This is in contrast to static media, which are most often created electronically, but do not require electronics to be accessed by the end user in the printed form.

The process of acquiring goods from the suppliers is known as procurement.

Dharavi is a locality in Mumbai, Maharashtra, India, considered to be one of Asia's largest slums. Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society, in contrast to financial exclusion where those services are not available or affordable.
Hence, a branch in Dharavi (slums) is an example of inclusive banking.

Customisation stands for making special products to suit every other customer. It is a marketing and manufacturing technique that combines the flexibility and personalisation of custom-made products with the low unit costs associated with mass production. Other names for mass customisation include made-to-order or built-to-order.

Personal selling is the primary promotional method for the sale of all business products. It is a method where companies send their agents to the consumer to sell the products personally. In this type of promotion, the feedback is immediate and trust can be built with the customer which is very important. This is not possible in other promotion activities.

A gatekeeper works as a filter of information. The marketer has to pass through the gatekeeper before it reaches the decision makers. He controls the information that all the members of the decision making unit will review. He is given the authority to prevent the sellers or information from reaching members of the buying centre.