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Total Questions : 485 | Page 44 of 49 pages
Question 431. Identify the products that the customer usually buys frequently and with a minimum of comparison and buying effort.
  1.    Specialty
  2.    Convenience
  3.    Unsought
  4.    Augmented
 Discuss Question
Answer: Option B. -> Convenience
Convenience is the products that the customer usually buys frequently and with a minimum of comparison and buying effort. A convenience good is a consumer item that is widely available and purchased frequently with minimal effort.
Question 432. While considering the place for a product which of the following is important for customer.
  1.    Communication
  2.    Convenience
  3.    Cost
  4.    Solution
 Discuss Question
Answer: Option B. -> Convenience
While considering the place for a product Convenience is important for customer. A convenience good is a consumer item that is widely available and purchased frequently with minimal effort. Convenience goods, such as newspapers and candy, are different than specialty goods, such as cars, which are more expensive and often carry a greater opportunity cost for the consumer.
Question 433. All of the following are the examples of unsought goods EXCEPT:
  1.    Course books
  2.    Encyclopedia
  3.    Funeral plots
  4.    Insurance policy
  5.    Unsought Goods
 Discuss Question
Answer: Option A. -> Course books
All of the following are the examples of unsought goods EXCEPT Course books. se books. A course book is a textbook that students and teachers use as the basis of a course.
Question 434. Price is the only element in the marketing mix that produces:
  1.    Fixed cost
  2.    Expense
  3.    Variable cost
  4.    Revenue
 Discuss Question
Answer: Option D. -> Revenue
Price is the only element in the marketing mix that produces revenue. Pricing is the only revenue-generating element in the marketing mix (the other three elements are cost centres—that is, they add to a company's cost).
Question 435. Market –oriented firms focus on:
  1.    Retailers
  2.    Distributors
  3.    Customers
  4.    Wholesalers
 Discuss Question
Answer: Option C. -> Customers
Market –oriented firms focus on Customers. Market orientation is a business philosophy where the focus is on identifying customer needs or wants and meeting them. Rather than trying to get your customers to like or become aware of the benefits of your products or services, with the marketing orientation approach you tailor them to meet the demands of customers.
Question 436. How do consumers respond to various marketing efforts the company might use? What is a starting point of a buyer’s behavior?
  1.    Belief
  2.    Subculture
  3.    Post purchase feeling
  4.    Stimulus-response Model
 Discuss Question
Answer: Option D. -> Stimulus-response Model
This is stimulus-response model of the buyer behaviour. It shows stimuli as input and buyer response as output with the process of decision-making in the middle which depends on the buyer's characteristics.
Question 437. The mental act, condition or habit of placing trust or confidence in another shows which of the following options?
  1.    Motive
  2.    Belief
  3.    behavior
  4.    Attitude
 Discuss Question
Answer: Option B. -> Belief
The mental act, condition or habit of placing trust or confidence in another shows Belief. A Belief is a descriptive thought that a person holds about something.
Question 438. Product planners need to think about products and services on three levels. Each level adds more customer value. Which one of the following is the most basic level that addresses the question, “What is the buyer really buying?”
  1.    Actual product
  2.    Augmented product
  3.    Core benefit
  4.    Co-branding
 Discuss Question
Answer: Option C. -> Core benefit
Core Benefit Proposition tells about what a consumer would perceive as the benefit in purchasing a new product compared to that in buying a competitor's product.
Question 439. Buying goods and services for further processing or for use in the production process refers to which of the following markets?
  1.    Consumer markets
  2.    Government markets
  3.    Business markets
  4.    International markets
 Discuss Question
Answer: Option C. -> Business markets
Buying goods and services for further processing or for use in the production process refers to Business markets. Marketplaces where organizations purchase raw materials, natural resources and components of other products for their resale or for use in manufacturing another product. Business markets are generally made up of businesses which buy products and raw materials for their own operation.
Question 440. Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to which of the following options?
  1.    Customer perceived value
  2.    Marketing myopia
  3.    Customer relationship management
  4.    Customer satisfaction
 Discuss Question
Answer: Option A. -> Customer perceived value
Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to Customer perceived value.

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