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Test: Recent Developments in Marketing - 2 - B Com MCQ


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10 Questions MCQ Test - Test: Recent Developments in Marketing - 2

Test: Recent Developments in Marketing - 2 for B Com 2024 is part of B Com preparation. The Test: Recent Developments in Marketing - 2 questions and answers have been prepared according to the B Com exam syllabus.The Test: Recent Developments in Marketing - 2 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Recent Developments in Marketing - 2 below.
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Test: Recent Developments in Marketing - 2 - Question 1
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Why is marketing of services important?

Detailed Solution for Test: Recent Developments in Marketing - 2 - Question 1
The marketing of services is important because services are intangible in nature, which makes it challenging to market them effectively. Unlike tangible products, services cannot be seen or touched, and their characteristics and benefits need to be communicated to potential customers. Marketing helps in creating awareness, overcoming the intangibility barrier, and highlighting the unique value proposition of services.
Test: Recent Developments in Marketing - 2 - Question 2
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Which of the following statements describes a key characteristic of services?

Detailed Solution for Test: Recent Developments in Marketing - 2 - Question 2
Services are intangible and are consumed at the same time they are produced. Unlike tangible products, services cannot be stored or resold once they have been used. Additionally, services are unique and cannot be exactly repeated even by the same service provider.
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Test: Recent Developments in Marketing - 2 - Question 3
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Why is customer retention important in the marketing of services?

Detailed Solution for Test: Recent Developments in Marketing - 2 - Question 3
Customer retention is important in the marketing of services because it leads to positive word of mouth. Satisfied and loyal customers are more likely to recommend a service provider to others, which can attract new customers without the need for extensive marketing efforts. Positive word of mouth can significantly impact a service provider's reputation and credibility, leading to increased demand for services.
Test: Recent Developments in Marketing - 2 - Question 4
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What is a key differentiator in the marketing of services?
Detailed Solution for Test: Recent Developments in Marketing - 2 - Question 4
Service quality is a key differentiator in the marketing of services. Since services are intangible, customers often rely on the quality of service provided by the service provider to make their buying decisions. Service quality encompasses factors such as responsiveness, reliability, empathy, and assurance. A service provider that consistently delivers high-quality service can differentiate itself from competitors and attract customers.
Test: Recent Developments in Marketing - 2 - Question 5
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What is the role of people in the marketing of services?
Detailed Solution for Test: Recent Developments in Marketing - 2 - Question 5
People play a crucial role in the marketing of services as they are responsible for delivering the services to the customers. In service-based industries, the interaction between the service provider and the customer is an integral part of the service experience. The behavior, skills, and attitude of the service provider can significantly impact customer satisfaction and perception of the service.
Test: Recent Developments in Marketing - 2 - Question 6
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Which element of the services marketing mix refers to the physical environment in which services are delivered?
Detailed Solution for Test: Recent Developments in Marketing - 2 - Question 6
The element of the services marketing mix that refers to the physical environment in which services are delivered is "Place." Place refers to the location or setting where the service is provided to the customer. The physical environment plays a significant role in shaping the customer's perception of the service and can contribute to the overall customer experience.
Test: Recent Developments in Marketing - 2 - Question 7
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What is the purpose of process in the services marketing mix?
Detailed Solution for Test: Recent Developments in Marketing - 2 - Question 7
The purpose of process in the services marketing mix is to ensure consistent service delivery. Process refers to the series of steps and activities involved in delivering the service to the customer. A well-defined and standardized process helps in maintaining consistency in service quality and meeting customer expectations. It also enables service providers to identify areas for improvement and enhance the overall service experience.
Test: Recent Developments in Marketing - 2 - Question 8
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Which group of consumers is most likely to pay a premium for green products?
Detailed Solution for Test: Recent Developments in Marketing - 2 - Question 8
Affluent and educated LOHAS (Lifestyles of Health and Sustainability) consumers are most likely to pay a premium for green products. LOHAS consumers are highly engaged with green marketing and prioritize health and sustainability in their purchasing decisions. They are willing to pay more for products that align with their values and support environmentally friendly practices.
Test: Recent Developments in Marketing - 2 - Question 9
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What is the purpose of green marketing?
Detailed Solution for Test: Recent Developments in Marketing - 2 - Question 9
The purpose of green marketing is to promote environmentally friendly products and practices. Green marketing focuses on highlighting the environmental benefits and sustainability initiatives of a company's products and services. It aims to attract consumers who are concerned about the environment and are willing to support companies that prioritize eco-friendly practices.
Test: Recent Developments in Marketing - 2 - Question 10
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What is physical evidence in the context of services marketing?
Detailed Solution for Test: Recent Developments in Marketing - 2 - Question 10
Physical evidence refers to the tangible elements incorporated into the service offering. Since services are intangible, service providers often incorporate physical elements to enhance the customer experience and provide tangible evidence of the service quality. This can include factors such as the physical environment, facilities, equipment, and other visible components that contribute to the overall service delivery.
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