Effective selling skills depend on ______________
Answer: D
Correct answer: Knowledge of related markets
Selling well depends on knowing the market - the customers, the competing products, the alternatives a buyer is weighing. Only then can a salesperson match what is offered to what is needed. The number of languages a person speaks may help them communicate but does not tell them what to say.
Please log in or register to report this question.
Which marketing model includes 4 P’s of Marketing i.e. Product, Price, Place and Promotion?
Answer: C
Correct answer: Marketing Mix
The marketing mix is the four Ps - Product, Price, Place and Promotion - the controllable variables a firm combines to reach its target market. McCarthy formulated it in 1960, and the service industries later extended it to seven Ps.
Please log in or register to report this question.
Post-sales activities include ________
Answer: B
Correct answer: Customer feedback
Post-sales activity is everything after the transaction: delivery, installation, service, and above all feedback - finding out whether the customer is satisfied. It matters because keeping an existing customer costs far less than winning a new one. Presentation and identification come before the sale.
Please log in or register to report this question.
Profits start declining in which phase of Product Life Cycle?
Answer: D
Correct answer: Decline
Profits peak in growth or early maturity and then erode as competition drives prices down; by the decline stage sales are falling as well, so total profit falls away. (Profits fall in maturity too, which is why the phrasing matters: sustained decline in both sales and profit is the decline stage.)
Please log in or register to report this question.
Internal marketing means
Answer: A
Correct answer: marketing inside the company
Internal marketing is directed at a firm’s own employees - training them, informing them and motivating them to serve customers well. It matters most in services, where the staff are the product as far as the customer is concerned: no external campaign will survive an indifferent person at the counter. It has nothing to do with domestic as against foreign markets.
Please log in or register to report this question.
A company increases its market share by increasing
Answer: A
Correct answer: Sales Volumes
Market share is a firm’s sales as a proportion of the market’s total sales, so it rises only when the firm’s sales volume grows faster than the market’s. More staff or more products may help bring that about, but neither is share; and a higher profit percentage may even reduce it, if it comes from raising prices.
Please log in or register to report this question.
Market segmentation can be resorted to by dividing the target group as per
Answer: A
Correct answer: Income levels of customers
Segmentation divides the market, so the variables must describe customers - income, age, location, lifestyle, needs, buying behaviour. The other options describe the firm’s own staff, which has nothing to do with how the market divides.
Please log in or register to report this question.
Automobiles and TV's are in what stage of the PLC, among the following mentioned options?
Answer: B
Correct answer: Maturity
Cars and televisions are long-established products with widespread ownership, many competitors and sales driven largely by replacement rather than by new buyers - the signature of the maturity stage. Growth is slow, competition is on price and differentiation, and the market is close to saturation.
Please log in or register to report this question.
Different products remain in existence for a different limited period. This is called
Answer: A
Correct answer: Product life cycle
Every product has a commercial lifetime, and its length varies enormously - a fashion item may last a season, a soft drink a century. Tracing sales and profit across that lifetime, through introduction, growth, maturity and decline, is the product life cycle.
Please log in or register to report this question.
The main marketing objective for the maturity stage of the PLC is what among the following mentioned options?
Answer: D
Correct answer: Maintain brand loyalty
In a mature market almost everyone who wants the product already has one, so growth must come at a competitor’s expense. The objective is therefore to defend the customers already won - through brand loyalty, differentiation and service - while maximising profit. Harvesting and deletion belong to the decline stage.
Please log in or register to report this question.
