"Sar utha ke jiyo" is the business tag line of -
Answer: D
Correct answer: HDFC Life
“Sar Utha Ke Jiyo” - live with your head held high - is the tagline of HDFC Life. It captures what a life insurer sells: not a product but the dignity of not being dependent on others.
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The segmentation of market based on the gender of the customers is a type of
Answer: A
Correct answer: demographic segmentation
Demographic segmentation divides a market by the measurable characteristics of people - age, gender, income, occupation, education, family size. It is much the most used basis, because the data is easy to obtain and the segments are easy to reach.
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Relationship banking is
Answer: D
Correct answer: relationship between bankers and customers, to retain the customers
Relationship banking means building a long-term connection with a customer rather than treating each transaction separately - knowing the customer’s whole financial position, offering what suits it, and so retaining them. It rests on the fact that keeping a customer costs far less than winning a new one.
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Setting a high price for a product to signal its distinctive features is an example of
Answer: A
Correct answer: Skimming Pricing
Skimming sets a high price on a distinctive new product, so that the buyers who most value its features pay first and development costs are recovered early. The price is lowered in stages as the market broadens. It works only where the product really is differentiated and buyers are not price sensitive - the opposite case calls for penetration pricing.
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The 'break-even point' is where
Answer: C
Correct answer: Total revenue equals total cost
At the break-even point the firm makes neither profit nor loss, so total revenue equals total cost:
\[ \text{Break-even quantity} = \frac{\text{Fixed cost}}{\text{Price} - \text{Variable cost per unit}} \]Marginal revenue equalling marginal cost is the condition for maximum profit, which is a different point entirely.
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Brainstorming sessions are organized during which phases of product development?
Answer: B
Correct answer: Idea generation
Brainstorming belongs to idea generation, the first stage of new product development, where the object is to produce as many possibilities as possible with judgment deliberately suspended. Screening and evaluation come afterwards; mixing the two is what kills useful ideas early.
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USP stands for
Answer: D
Correct answer: Unique Selling Proposition
USP is the Unique Selling Proposition - the one benefit a product offers that competitors do not, and the reason a customer should choose it. The term was coined by Rosser Reeves in the 1940s, and the discipline it imposes is to name a single distinctive claim rather than a list of virtues.
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The target market for an education loan is
Answer: B
Correct answer: prospective buyers
An education loan is sold to those who are actually about to need one - students, and their parents, who have secured or are seeking admission to a course. They are the prospective buyers. Marketing to everyone in school would waste most of the effort on people years away from the decision.
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If a company is focused on the development of the price, promotion, distribution and right combinations of the product then the company is developing which of the following?
Answer: B
Correct answer: Marketing Mix
Price, promotion, distribution and product are the four Ps, and combining them into the right blend for a target market is the marketing mix. The word mix is the point: the four are decided together, since a premium price implies a certain kind of promotion and a certain kind of outlet.
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When I-Pad came to market, demand for the Walkman dwindled. It is an example of which of the following?
Answer: C
Correct answer: Weak Demand
When a better product arrives, demand for the old one falls away - the state Kotler calls declining or weak demand, where fewer customers want the product than before. The marketer’s task then is remarketing: finding new uses, new markets, or new features, or else managing the withdrawal.
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