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Test: Introduction to Principles of Marketing - 1 - B Com MCQ


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10 Questions MCQ Test - Test: Introduction to Principles of Marketing - 1

Test: Introduction to Principles of Marketing - 1 for B Com 2024 is part of B Com preparation. The Test: Introduction to Principles of Marketing - 1 questions and answers have been prepared according to the B Com exam syllabus.The Test: Introduction to Principles of Marketing - 1 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Introduction to Principles of Marketing - 1 below.
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Test: Introduction to Principles of Marketing - 1 - Question 1
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What is the primary goal of modern marketing compared to traditional marketing?

Detailed Solution for Test: Introduction to Principles of Marketing - 1 - Question 1
In modern marketing, the primary goal is to prioritize customer satisfaction and tailor products to meet their specific needs. Unlike traditional marketing that focused mainly on selling products, modern marketing emphasizes understanding customer preferences and creating products that align with those preferences. This customer-oriented approach helps build stronger customer relationships and leads to more sustainable business growth.
Test: Introduction to Principles of Marketing - 1 - Question 2
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What does the concept of branding in marketing refer to?

Detailed Solution for Test: Introduction to Principles of Marketing - 1 - Question 2
Branding in marketing refers to the practice of giving a distinct name and identity to a product or service. This helps differentiate the product from competitors and creates a recognizable image in the minds of consumers. A strong brand can enhance customer loyalty, increase trust, and make products stand out in the market.
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Test: Introduction to Principles of Marketing - 1 - Question 3
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Which aspect of marketing involves determining the appropriate price for a product?

Detailed Solution for Test: Introduction to Principles of Marketing - 1 - Question 3
Pricing of Products is the aspect of marketing that involves determining the appropriate price for a product. This decision takes into account factors like production costs, competition, market demand, and desired profit margins. A well-balanced pricing strategy ensures that the product remains competitive while generating sufficient revenue.
Test: Introduction to Principles of Marketing - 1 - Question 4
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What is the primary purpose of gathering and analyzing market information in marketing?
Detailed Solution for Test: Introduction to Principles of Marketing - 1 - Question 4
Gathering and analyzing market information is done to understand consumer needs and preferences. By comprehending what consumers want, the quantity they desire, their preferred price range, and their communication preferences, marketers can tailor their products and strategies to meet these demands effectively.
Test: Introduction to Principles of Marketing - 1 - Question 5
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What role does storage or warehousing play in marketing?
Detailed Solution for Test: Introduction to Principles of Marketing - 1 - Question 5
Storage or warehousing in marketing refers to the function of providing a safe place to keep goods until they are sold. It helps bridge the gap between production and sale by ensuring that products are available when customers demand them. This function contributes to the creation of time utility.
Test: Introduction to Principles of Marketing - 1 - Question 6
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Which type of marketing focuses on customizing products to suit customer needs?
Detailed Solution for Test: Introduction to Principles of Marketing - 1 - Question 6
Modern marketing focuses on customizing products to suit customer needs. Unlike traditional marketing, which aimed to sell products regardless of customer preferences, modern marketing prioritizes customer satisfaction by tailoring products to align with their wants and needs.
Test: Introduction to Principles of Marketing - 1 - Question 7
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What does the term "promotion" encompass in marketing?
Detailed Solution for Test: Introduction to Principles of Marketing - 1 - Question 7
Promotion in marketing involves informing consumers about products and encouraging them to make purchases. This encompasses various methods like advertising, personal selling, sales promotion, and publicity. Effective promotion strategies help create awareness, interest, and desire among potential customers.
Test: Introduction to Principles of Marketing - 1 - Question 8
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Which marketing function involves creating time and place utility?
Detailed Solution for Test: Introduction to Principles of Marketing - 1 - Question 8
Transportation is the marketing function that involves creating time and place utility. By moving goods from the place of production to the place of consumption, transportation ensures that products are available where and when consumers need them.
Test: Introduction to Principles of Marketing - 1 - Question 9
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What is the main focus of marketing planning?
Detailed Solution for Test: Introduction to Principles of Marketing - 1 - Question 9
The main focus of marketing planning is tailoring products to customer preferences. This involves aligning production efforts, promotional strategies, and other marketing activities to create products that meet specific customer needs and desires.
Test: Introduction to Principles of Marketing - 1 - Question 10
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What is the central objective of marketing control?
Detailed Solution for Test: Introduction to Principles of Marketing - 1 - Question 10
The central objective of marketing control is monitoring and regulating marketing activities. It involves assessing the effectiveness of marketing strategies, analyzing market trends, and making necessary adjustments to ensure that the marketing efforts align with the company's goals and objectives.
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