Notes on Marketing Aptitude
With IBPS SO and SBI SO scheduled to take place in coming months we are here with notes on Marketing aptitude and awareness.
1. CTR (Click Through Rate) is related to Advertising metrics.
2. A non-traditional, low-cost, flexible and highly effective marketing is termed as Gorilla marketing.
3. The concept of Gorilla marketing was provided by J.C. Levinson.
4. Deciding initiatives in a short-term, for a longer term orientation is called Strategic marketing.
5. The method of sending promotional items to clients is called Drip marketing.
6. Marketing via e-mail falls under the category of direct marketing.
7. The sale of solution to a problem and not features of an item is called solution positioning.
8. That which can be offered to satisfy a need of the customer is called product.
9. The strategy which is more useful to banks due to provision of services (and not physical products) is selling.
10. A comparison of the business processes with competitors and improving prevailing ones is calledbench marketing.
11. An exposure to various other unutilised services of the bank to a customer is called cross selling.
12. During pricing, the factors customers’ demand, cost function and the competitors’ prices are collectively known as 3Cs.
13. Marketing by the word of the mouth, having a high pass-rate from person to person is called Viral marketing.
14. Creating a ‘buzz’ in the industry is an example of Viral marketing.
15. A classification of goods/services according to sales volume, ensuring that there is easy access to the more frequently sold goods is called ABC Inventory.
16. The idea that an increase in the demand for consumer goods will cause an increase in the capital goods required for them is known as accelerator principle.
17. A buyer whose latest purchase lies within the last 1-year period is called active buyer.
18. A marketing research undertaken for a particular one-time need is called ad hoc research.
19. When the tax or duty is imposed according to the money ‘value’ of the goods, it is known as ad valorem tax.
20. A ‘likely’ interested customer of the bank is termed as a prospect.
21. In marketing, calling on the prospective customers is known as a call.
22. When an organisation head inspires its employees to perform better, it is called motivation.
23. In sellers’ market marketing is not required to be undertaken.
24. Availing marketing services from ad hoc suppliers, rather than a centralised source is called a la carte. An example of the practice of a la carte is advertising company.
25. Marketing study that monitors the changes in the consumer attitudes, awareness and uses of a product, is known as AAU.
26. The essence of a product, its quality and competitiveness displayed in the form of letters, symbols and colours is known as branding.
27. The process of planning and executing the concepts, pricing, promotion and distribution of ideas/goods/services to satisfy individual’s/organisational goals is called marketing.
28. The process of using research tools to understand a market is called marketing research.
29. A persuading communication between the Company’s representative and a prospective buyer lies under the class of personal selling.
30. The development of marketing mix to influence a customer’s perceptions of a brand is called positioning.
31. When a marketer persuades a person/group of prospective buyers, the communication is termed as promotion.
