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Direct Marketing is useful for ______ (1) Designing Products (2) Sending e-mails (3) Marketing Aptitude. Copyright: Attribution Non-Commercial (BY-NC). Download as DOCX, PDF, TXT or read online from Scribd Creative Objectives. In order to achieve these objectives, marketing is the only source for banks. So, SBI and its associates amde marketing aptitude as a mandatory part in their recruitment process. You will get that pdf file in two days. We feel. Multiple Choice Questions for Marketing Aptitude Part 1. Download PDF of This Page (Size: K) ↧ marketing plan and strategy such that an organisation is able to satisfy not only the consumers needs but also achieve its own objectives.
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Sales Promotion - Marketing aptitude questions
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Marketing Aptitude for Bank Examinations
Companies that adopt a societal marketing perspective typically practice triple bottom line reporting whereby they publish social impact and environmental impact reports alongside financial performance reports. Sustainable marketing or green marketing is an extension of societal marketing.
They are the foundation of managerial marketing and the marketing plan typically devotes a section to each of these Ps. Origins[ edit ] During the s, the discipline of marketing was in transition. Interest in the functional school of thought, which was primarily concerned with mapping the functions of marketing was waning while the managerial school of thought, which focussed on the problems and challenges confronting marketers was gaining ground.
Many scholars and practitioners relied on lengthy classifications of factors that needed to be considered to understand consumer responses. According to Borden's own account, he used the term, 'marketing mix' consistently from the late s. The "marketing mix" gained widespread acceptance with the publication, in , of E.
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Jerome McCarthy 's text, Basic Marketing: A Managerial Approach which outlined the ingredients in the mix as the memorable 4 Ps, namely product, price, place and promotion. The successful use of the model is predicated upon the degree to which the target market's needs and wants have been understood, and the extent to which marketers have developed and correctly deployed the tactics.
Today, the marketing mix or marketing program is understood to refer to the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market".
The product element consists of product design, new product innovation, branding, packaging, labeling. The scope of a product generally includes supporting elements such as warranties, guarantees, and support. Branding , a key aspect of the product management, refers to the various methods of communicating a brand identity for the product, brand , or company.
Pricing This refers to the process of setting a price for a product, including discounts. The price need not be monetary; it can simply be what is exchanged for the product or services, e.
The price is the cost that a consumer pays for a product—monetary or not. Methods of setting prices are in the domain of pricing science. Place or distribution This refers to how the product gets to the customer; the distribution channels and intermediaries such as wholesalers and retailers who enable customers to access products or services in a convenient manner. This third P has also sometimes been called Place or Placement, referring to the channel by which a product or service is sold e.
Promotion This includes all aspects of marketing communications; advertising , sales promotion , including promotional education , public relations , personal selling , product placement , branded entertainment , event marketing, trade shows and exhibitions. This fourth P is focused on providing a message to get a response from consumers that is designed to persuade or tell a story to create awareness.
Criticisms[ edit ] Morgan, in Riding the Waves of Change Jossey-Bass, , suggests that one of the greatest limitations of the 4 Ps approach "is that it unconsciously emphasizes the inside—out view looking from the company outwards , whereas the essence of marketing should be the outside—in approach".
An inside-out approach is the traditional planning approach where the organisation identifies its desired goals and objectives which are often based around what has always been done.
Marketing's task then becomes one of "selling" the organisation's products and messages to the "outside" or external stakeholders. Well-designed models should exhibit clearly defined categories that are mutually exclusive, with no overlap. Yet, the 4 Ps model has extensive overlapping problems. Some of the Ps are only defined in vague terms. Several authors stress the hybrid nature of the fourth P, mentioning the presence of two important dimensions, "communication" general and informative communications such as public relations and corporate communications and "promotion" persuasive communications such as advertising and direct selling.
Certain marketing activities, such as personal selling, may be classified as either promotion or as part of the place i. Other important criticisms include that the marketing mix lacks a strategic framework and is therefore unfit to be a planning instrument, particularly when uncontrollable, external elements are an important aspect of the marketing environment.
Extensions of the four P's include "people", "process", and "physical evidence" and are often applied in the case of services marketing  Other extensions have been found necessary in retail marketing, industrial marketing and internet marketing: Industrial marketing or B2B marketing needs to account for the long term contractual agreements that are typical in supply chain transactions.
Relationship marketing attempts to do this by looking at marketing from a long term relationship perspective rather than individual transactions.
In order to recognize the special challenges involved in selling services, as opposed to goods, some authors advocate extending the model to 7 Ps for service industries by adding; Process — the way in which orders are handled, customers are satisfied and the service is delivered; Physical Evidence — is tangible evidence with which customers interact and with the potential to impact on the customer's service experience; People — service personnel and other customers with whom customers interact and form part of the overall service experience.
A number of authors have argued for the inclusion of two new Ps, namely, Personnel and Presentation since these contribute to the customer's unique retail experience and are the principal basis for retail differentiation. Some scholars also recommend adding Retail Format i.
While some scholars argue for an expanded marketing mix for internet marketing, most argue that entirely new models are required.How did you identify the specific activities necessary to execute the plan?
Analytical thinking can be a real asset to any organisation. Developing and implementing plans is a key aspect of many roles. Tell me about a time where you felt that you set a clear direction for others to follow.
SBI Associate Bank Clerk Exam: Tips and Strategies-Marketing Aptitude/ Computer Knowledge
A good negotiation. C bank financing to retail traders. A market share. There are sections on branding and packaging with special reference to personal selling.
The paper also helps the candidates to know more about the two branches of the paper which are poles apart from each other.