MARKETING NOTES FOR BANKING EXAMMr.Dharmendra singh

Important Marketing Terms for SBI Exam

Thereare someimportant glossary termsused by marketers, usually at the management level, when preparing marketing plans and pitching for business. Some of these are explained here..Anti-competitive practice:A practice is considered anti-competitive if it prevents, distorts or restricts competition in a market for goods and services in Barbados.Anti-dumping:Anti dumping is a measure to rectify the situation arising out of the dumping of goods and its tradedistortive effect. Thus, the purpose of anti dumping duty is to rectify the trade distortive effect ofdumping and re-establish fair trade. The use of anti dumping measure as an instrument of fair competition is permitted by the WTO. In fact, anti dumping is an instrument for ensuring fair trade and is not a measure of protection for the domestic industry. It provides relief to the domestic industry against the injury caused by dumping. Anti dumping measures do not provide protection per se to the domestic industry. It only serves the purpose of providing remedy to the domestic industry against the injury caused by the unfair trade practice of dumping.Advertising:Advertising is a form of communication that typically attempts to persuade potential customers to purchase or to consume more of a particular brand of product or service. Many advertisements are designed to generate increased consumption of those products and services through the creation and reinforcement of "brand image" and "brand loyalty". For these purposes, advertisements sometimes embed their persuasive message with factual information.Barter:A Trade Exchange or Barter is a type of trade in which goods or services are directly exchanged for other goods and/or services, without the use of money. It can be bilateral or multilateral, and usually exists parallel to monetary systems in most developed countries, though to a very limited extent. Barter usually replaces money as the method of exchange in times of monetary crisis, when the currency is unstable and devalued by hyperinflation.Branding:It is a promise, a pledge of quality. It is the essence of a product, including why it is great, and how it is better than all competition products. It is an image. It is a combination of words and letters, symbols, and colors.Conglomerate:A conglomerate is the term used to describe a large company that consists of seemingly unrelated business sections. This term may also be referred to as a multi-industry company.Circulation:The total number of copies distributed by a newspaper or magazine.Classifieds:An advertisement in a newspaper that is placed along with advertisements for similar events under a classified heading, e.g. 'Entertainment' or 'Cinema'.Concept:A design in which all aspects of the product are linked to a central idea, function or theory, etc.Copy:Written or typed matter intended to be reproduced in print.Copyright:The exclusive right, granted by law for a certain term of years, to make and dispose of copies of, and otherwise to control, a literary, musical, dramatic, or artistic work.Critical Path:Plots the events that need to occur to complete a project on a timeline.CRM:Customer Relationship Marketing. Building loyalty through your relationship with a customer.Database:A large volume of information stored in a computer and organised in categories to facilitate retrieval.Direct Mail:Mailing brochures, letters, questionnaires etc. directly to the target market.Direct Marketing:Marketing to the customer without the use of an intermediary.Types of Direct marketing:There are many types of direct marketing, only some important types are listed below and these are the most form of direct marketing.i)Direct Mail Marketing: Advertising material sent directly to home and business addresses. This is the most common form of direct marketing.ii)Telemarketing: It is the second most common form of direct marketing, in which marketers contact consumers by phone.ii)Email Marketing: This type of marketing targets customers through their email accountsDisplay Ad:An advertisement which is usually designed by the advertiser and displayed in a box.Direct Response:In advertising. Advertising designed to trigger a behavioural response in target audiences, e.g. placing mail back coupons in the ad, asking people to bring in or mention an ad, setting up a phone number and asking individuals to call for further information etc.Digital Marketing:Digital Marketing is the practice of promoting products and services using all forms of digital advertising. It includes Television, Radio, Internet, mobile and any other form of digital media.Distress Rates:Cheaper rates for advertising at short notice, i.e. When newspapers have spaces to fill shortly before their deadlines.Distribution:To place promotional material, e.g. fliers or posters, throughout areas where they will be pickedup.Drip Marketing:Method of sending promotional items to clients is called Drip marketing.Dumping:If a company exports a product at a price (export price) lower than the price it normally charges on its own home market (normal value), it is said to be 'dumping' the product. Dumping can harm the domestic industry by reducing its sales volume and market shares, as well as its sales prices. This in turn can result in decline in profitability, job losses and, in the worst case, in the domestic industry going out of business. Often, dumping is mistaken and simplified to mean cheap or low priced imports. However, it is a misunderstanding of the term. On the other hand, dumping, in its legal sense, means export of goods by a country to another country at a price lower than its normal value. Thus, dumping implies low priced imports only in the relative sense (relative to the normal value), and not in absolute sense.Freepost:Used to encourage a response by mail. The sender does not pay to return an item by post e.g. a questionnaire.Guerilla Marketing:Unconventional marketing intended to get maximum results from minimal resources is nothing but Guerilla Marketing.JIT:Just-in-time (JIT) is an inventory strategy implemented to improve the return on investment of a business by reducing in-process inventory and its associated carrying costs. In order to achieve JIT the process must have signals of what is going on elsewhere within the process.Incentive:Something of financial or symbolic value added to an offer to encourage some overt behavioural response.Indirect Marketing:Indirect Marketingis the distribution of a particular product through a channel that includes one or more resellers.Difference b/w Direct and Indirect Marketing:Direct marketing is basically advertising your own products or services.In the same way you might advertise for someone else is called Indirect marketing, is an increasingly popular way of doing businessInternet Marketing:Internet marketing is the marketing of products or services over the Internet.Internet Marketing is also known as i-marketing, web-marketing, online-marketing, Search Engine Marketing (SEM) or e-MarketingKey Selling Points:The components of a program or event that will appeal to the greatest number of people.Loyalty Programs:A component of relationship marketing. Programs designed to increase the strength of a consumer's preference for a particular entity. The most common form of loyalty program in the arts is subscription or membership programs.Marketing:The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, and people to create exchanges that will satisfy individual and organizational goals.Marketing Mix:The blend of product, place, promotion, and pricing strategies designed to produce satisfying exchanges with a target market.Market Research:The process of planning, collecting, and analyzing data relevant to marketing decision-making. Using a combination of primary and secondary research tools to better understand a situation.Marketing Strategy:The first stage is setting marketing objectives (where the organisation wants to be at the end of the strategic planning period) and goals (the objectives with specific numerical benchmarks and deadlines attached to allow management to measure achievement). The second stage is specifying the core marketing strategy, i.e. specific target markets, competitive positioning and key elements of the marketing mix. The third is the implementation of tactics to achieve the core strategy.Mergers and Acquisitions:The phrase mergers and acquisitions (abbreviated M&A) refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling and combining of different companies that can aid, finance, or help a growing company in a given industry grow rapidly without having to create another business entity. A merger is a tool used by companies for the purpose of expanding their operations often aiming at an increase of their long term profitability. An acquisition, also known as a takeover, is the buying of one company (the target) by another.

Media Hooks:Aspects of an event or program that are most likely to appeal to a journalist or the media generally.Media Monitoring:Systematic monitoring of the media in order to ascertain what has been said. Specialised agencies provide this service.Offer:A proposal by a marketer to make available to a target customer a desirable set of positive consequences if the customer undertakes the required action.Pitch:A proposal - either verbal or written - to enlist the engagement or support of a third party.Psychographics:Life-style measures which combine psychological and demographic measurements based on consumers' activities, aspirations, values, interests or opinions.Publicity:Definitions vary but in Sauce the term is used to describe obtaining media coverage.Personal Selling:Persuasive communication between a representative of the company and one or more prospective customers, designed to influence the person's or group's purchase decision.Qualitative Research:Research that seeks out people's attitudes and preferences, usually conducted through unstructured interviews or focus groups.Quantitative Research:Research that measures (quantifies) responses to a structured questionnaire, conducted either through telephone, face-to-face structured interviews, on the Internet or through self completion surveys.Quickcuts:The brand name of technology which enables design companies or advertising agencies to transmit advertisements directly to the publication over a telephone line.Reach:The total number of people your organisation or campaign reaches.Relationship marketing:Marketing with a focus on building long-term relationships where the target customer is encouraged to continue his or her involvement with the marketer.Strategic Marketing Planning:The process of managerial and operational activities required to create and sustain effective and efficient marketing strategies, including identifying and evaluating opportunities, analyzing markets and selecting target markets, developing a positioning strategy, preparing and executing the market plan, and controlling and evaluating results.Situational Analysis:An analysis of the internal and external environment of a company or event.SWOT Analysis:Identifying the strengths and weaknesses, which are internal to the organisation or project and the opportunities and threats, which come from outside the organisation.Social Media Marketing:Social media marketing is marketing using online communities, social networks, blog marketing and moreTalent:The person or people you put forward to the media as possible subjects for an interview, a game show, a picture or footage, etc.Target Audience:The section of the population that is identified as likely to be most interested in buying or being associated with a product.Target media:The media you decide to target for coverage because they reach your target audience.Targeting:The act of directing promotions to the target audience.

TARPS:Target audience rating points -- that is, the number of people or percentage of people reached in your target audienceUnique Selling Proposition (USP):The one thing that makes a product different than any other. It's the one reason marketers think consumers will buy the product even though it may seem no different from many others just like it.Viral Marketing:Marketing by the word of the mouth, having a high pass-rate from person to person is called Viral marketing. Creating a 'buzz' in the industry is an example of viral marketingIMPORTANT MARKETING TERMS Read here the importantMarketing terms which we have jotted down keeping in mind their importance for the upcoming SBI Exam.................Above the line: "Above the Line" is the term commonly used for advertising for which a payment is made and for which commission is paid to the advertising agency. Methods of above the line advertising include television and radio, magazines, newspapers and Internet.Ad hoc market research: Ad-hoc research focuses on specific marketing problems. It involves the collection of data at one point in time from one sample of respondents.Added value: Added value refers to the increase in worth of a product or service as a result of a particular activity. In the context of marketing, the added value is provided by features and benefits over and above those representing the "core product".Ad-Valorem Duties: These are the duties determined as a certain percentage of prices of the product.AIDA: Attention Interest Desire ActionAIFI: All India Financial InstitutionALCO: Asset-Liability Management CommitteeALM: Asset/ liability management involves a set of techniques to create value and manage risks in a bank.Ambush marketing: A deliberate attempt by a business or brand to associate itself with an event (often a sporting event) in order to gain some of the benefits associated with being an official sponsor without incurring the costs of sponsorshipAMC: Asset Management CommitteeAnnual Financial Statement: It is a statement of receipts and expenditure of states for the financial year, presented to Parliament by the government. It is divided into three parts: Consolidated Fund, Contingency Fund and Public Account.Appropriation Bill: It is presented to Parliament for its approval, so that the government can withdraw from the Consolidated Fund the amounts required for meeting the expenditure charged on the Consolidated Fund. No amount can be withdrawn from the Consolidated Fund till the Appropriation Bill is voted is enacted.Appropriation Bill: This Bill is like a green signal enabling the withdrawal of money from the Consolidated Fund to pay off expenses. These are instruments that Parliament clears after the demand for grants has been voted by the Lok Sabha.Augmented brand: The additional customer services and benefits ("added value") that are built around the core product or service offeringBalance Of Payments: The difference between demand and supply of a country's currency in the foreign exchange market.Balance Of Trade: The difference between monetary value of exports and imports of output in an economy over a certain period of time. It is the relationship between a nation's imports and exports.Banking Cash Transaction Tax (BCTT): BCTT is a small tax on cash withdrawal from bank exceeding a particular amount in a single day. The basic idea is to curb the black economy and generate a record of big cash transactions. This tax was introduced in 2005-06 budget.Behavioural Segmentation: Behavioural segmentation divides customers into groups based on the way they respond to, use or know of a product.Bond: A negotiable instrument evidencing debt, under which the issuer promises to pay the holder its face value plus interest as agreed.Brand building: Developing a brand's image and standing with a view to creating long term benefits for brand awareness and brand valueBrand equity: Brand equity refers to the value of a brand. Brand equity is based on the extent to which the brand has high brand loyalty, name awareness, perceived quality and strong product associations. Brand equity also includes other "intangible" assets such as patents, trademarks and channel relationships.Brand extension: Brand extension refers to the use of a successful brand name to launch a new or modified product in a new market. Virgin is perhaps the best example of how brand extension can be applied into quite diverse and distinct markets.Brand image: Brand image refers to the set of beliefs that customers hold about a particular brand. These are important to develop well since a negative brand image can be very difficult to shake off.Brand loyalty: A strongly motivated and long standing decision to purchase a particular product or serviceBudget estimates: It is an estimate of Fiscal Deficit and Revenue Deficit for the year. The term is associated with estimates of the Center's spending during the financial year and income received as proceeds of tax revenuesBudgetary Deficit: Such a situation arises when expenses exceed revenues. Here the entire budgetary exercise falls short of allocating enough funds to a certain area.Business to business: Marketing activity directed from one business to another (as opposed to a consumer). This term is often shortened to "B2B"businesses communicating with customers.Capital Budget: Capital Budget keeps track of the government's capital receipts and payments. This accounts for market loans, borrowings from the Reserve Bank and other institutions through sale of Treasury Bills, loans acquired from foreign governments and recoveries of loans granted by the Central government to State governments and Union Territories.Capital Budget: It consists of capital receipts and payments. It also incorporates transactions in the Public Account. It has two components: Capital Receipt and Capital Expenditure.Capital budget: The list of planned capital expenditures prepared usually annually Capital Gain and Loss. The difference between the price that is originally paid for a security and cash proceeds at the time of maturity (face value of bond) or at the time of sale (selling price of a bond or stock). When the difference is positive, it is a gain, but when it is negative, it is a loss.Capital Expenditure: It consists of payments for acquisition of assets like land, buildings, machinery, equipment, as also investments in shares etc, and loans and advances granted by the Central government to state and union territory governments, government companies, corporations and other parties.Capital expenditure: Long-term in nature they are used for acquiring fixed assets such as land, building, machinery and equipment. Other items that also fall under this category include, loans and advances sanctioned by the Center to the State governments, union territories and public sector undertakings.Capital Goods: Goods used in the manufacturing of finished productsCapital investments: Money used to purchase permanent fixed assets for a business, such as machinery, land or buildings as opposed to day-to-day operating expenses.Capital Market: Market in which financial instruments are bought and sold.Capital Payments: Expenses incurred on acquisition of capital assetsCapital Receipt: Capital Receipts consist of loans raised by the Center from the market, government borrowings from the RBI & other parties, sale of Treasury Bills and loans received from foreign governments. Other items that also fall under this category include recovery of loans granted by the Center to State governments & Union Territories and proceeds from the dilution of the government's stake in Public Sector Undertakings.Capital Receipt: The main items of capital receipts are loans raised by the government from public which are called market loans, borrowings by the government from the Reserve Bank of India and other parties through sale of Treasury Bills, loans received from foreign governments and bodies and recoveries of loans granted by the Central government to state and union territory governments and other parties. It also includes proceeds from disinvestment of government equity in public enterprises.Capital Structure: The composition of a firm's long-term financing consisting of equity, preference shares, and long-term debt.Capital: Funds invested in a firm by the owners for use in conducting the business.CCI: Competition Commission of IndiaCentral Plan Outlay: It refers to the government's budgetary support to the Plan. It is the division of monetary resources among different sectors in the economy and ministries of the government.CENVAT: This is a replacement for the earlier MODVAT scheme and is meant for reducing the cascade effect of indirect taxes on finished products. This is more extensive scheme with most goods brought under its previewCESS: This is an additional levy on the basic tax liability. Governments resort to cess for meeting specific expenditure. For instance, both corporate and individual income is at present subject to an education cess of 2%. In the last Budget, the government had imposed another 1% cess as secondary and higher education cess on income tax to finance secondary and higher education.Cognitive dissonance: Cognitive dissonance is an customer effect commonly observed after a major purchase whereby the customer feels uncertainty about whether the purchase should have been made. Post-purchase promotion (particularly advertising) has a role to play to reduce the incidence and effect of cognitive dissonanceCombination brand: A combination brand name brings together a family brand name and an individual brand name. The idea here is to provide some association for the product with a strong family brand name but maintaining some distinctiveness so that customers know what they are gettingCompetitive advantage: A competitive advantage is a clear performance differential over the competition on factors that are important to customersCompetitor benchmarking: Competitor benchmarking compares customer satisfaction with the products, services and relationships of the business with those of key competitorsConsolidated Fund: This is one big reservoir where the government pools all its funds together. The fund includes all government revenues, loans raised and recoveries of loans granted.

1. Marketing function includes(A) Designing new products(B) Advertisements(C) Publicity(D) After sales service(E) All of theseAns : (E)2. Lead generation can be resorted toby browsing(A) Telephone directories(B) Yellow pages(C) Internet sites(D) List of existing customers(E) All of theseAns : (E)3. Effective selling skills depend on(A) Effective lead generation(B) Sales Call Planning(C) Territory Allocation(D) Effective communication skills(E) All of theseAns : (E)4. Market Information means(A) Knowledge level of marketing staff(B) Information about marketing staff(C) Information regarding Share market(D) Knowledge of related markets(E) All of theseAns : (D)5. Marketing channels mean(A) Delivery period(B) Delivery time(C) Delivery outlets(D) Delivery place(E) All of theseAns : (E)6. Buyer Resistance means(A) Buyers interest in the product being sold(B) Buyer fighting with the seller(C) Buyers hesitation in buying the product(D) Buyer becoming a seller(E) Buyer buying the productAns : (C)7. Marketing is the function of(A) Sales persons(B) Production Department(C) Planning Department(D) Team leaders(E) A collective function of all staffAns : (E)8. A DSA means(A) Direct Service Agency(B) Direct Selling Agent(C) Double Selling Agent(D) Distribution Agency(E) None of theseAns : (B)9. Service Marketing is resorted to in(A) All manufacturing companies(B) All production houses(C) Export units(D) Insurance companies and banks(E) All of theseAns : (D)10. Marketing is(A) A skilled persons job(B) A one day function(C) A one time act(D) Required only when a new product is launched(E) None of theseAns : (A)11. Market share refers to(A) Share market prices(B) Price fluctuation in the market(C) Share issue floated by the company(D) Share of wallet(E) Share of business of the companyas compared to peersAns : (E)12. Service Marketing is the same as(A) Internet marketing(B) Telemarketing(C) Internal Marketing(D) Relationship Marketing(E) All of theseAns : (D)13. Current Accounts can be freely opened by Find the incorrect answer.(A) All NRIs(B) All businessmen(C) Government departments(D) Firms and Companies(E) HUFsAns : (E)14. Buyer Resistance can be overcome by(A) Cordial relation between buyer andseller(B) Good negotiation(C) Persuasive communication(D) Good after sales service(E) none of theseAns : (A)15. Cross-selling is useful for canvassing(A) Current Accounts(B) Fixed Deposit Accounts(C) Student loans(D) Car loans(E) All of theseAns : (E)16. Market segmentation helps todetermine(A) Target groups(B) Sale price(C) Profit levels(D) Product life cycle(E) All of theseAns : (A)17. The target group for Car loans is(A) Auto manufacturing companies(B) Car dealers(C) Taxi drivers(D) Car purchasers(E) All of theseAns : (E)18. The best promotional tool in any marketing is(A) e-promotion(B) Public Relations(C) Viral marketing(D) Word of mouth publicity(E) AdvertisementsAns : (E)19. Customisation results in(A) Customer exodus(B) Customer retention(C) Customer complaints(D) All of these(E) None of theseAns : (B)20. The target group for Education Loans is(A) All parents(B) All Professors(C) All Research Scholars(D) All Tutorial Colleges(E) All College StudentsAns : (E)21. Find the correct sentence.(A) Higher the price, higher are the sales(B) More sales persons lead to more sales(C) Mission statement is part of a Market Plan(D) Better sales incentives means better performance(E) All customers are profitable customersAns : (C)22. Good marketing strategy envisages good and proper(A) Product development(B) Promotion and Distribution(C) Pricing(D) Relationship management(E) All of theseAns : (E)23. Savings Accounts can be opened by(A) All individuals fulfilling KYC norms(B) All individuals earning more than Rs. 1,00,000 per annum(C) All individuals above the age of 18(D) All salaried persons only(E) All students below the age of 18Ans : (C)24. Situation Analysis is useful for(A) SWOT Analysis(B) Analysis of Sales persons performances(C) Analysis of capital markets(D) All of these(E) None of theseAns : (A)

Marketingmyopiais anadvertising strategythat does not focus on the needs and wants of consumers, but the desires of a company to sell specific goods or services in the economic market. Marketing Myopiais a paper written by Theodore Levitt. This was published in the Harvard Business Review in 1960

IMPORTANT QUESTIONS FOR UPCOMING BANK EXAMS IMPORTANT QUESTIONS

1- Market expansion means- (a). hiring more staff (b). firing more staff (c) buying more products(d) buying more companes (e) none of these

2- Call in marketing means- a) to visit the customers b) to phone the customers c) to visit the marketing site d)to call on prospective customers

3- Effective marketing helps in- a) developing new products b)creating a competitive environment c) building demand for product d)all of these e) none of these4- Delivery channel means- a) maternity wards b) handing over the products to the buyer c) places where products are made available to the buyersd) all of these e) none of these

5- A good seller should have the following qualities a) devotion to the work b)patience c)good knowledge d) all of the above

6- Marketing survey means-a) market research b) market planningc) market strategies d)market monitoring

7- Innovation means- a) product designing b) creating new ideas & thoughtts c)market expansion d) all of these

8- One of the following is a target group for the marketing of internet banking-a) all the customers b) all the educated customers c) all the computer educated customers d)only creditors

9- Internet marketing means- a)self marketing b) core group monitoring c) employee marketing d)all of these e)

10-Planned-cost service means- a) costly product means b)extra profit on the same cost c) extra work by seller d) all of these

11- Rural marketing is not required because- a) rural people do not understand marketing b)it is wastage of time c)it is not practical for cost point of view d) all are wrongs

12- In double -win strategy- a) customers gets an additional benefit b) customers get price debate c) both a & b d)none of theseDIFFERENT TYPES OF MARKETING

Heres a list of marketing terms that we hope you find useful:Online MarketingOnline marketing is any marketing strategy that takes place online. Also referred to as Internet marketing, it encompasses a variety of marketing forms like video advertisements, search engine marketing and e-mail marketing. It is the opposite of offline marketing, and can also fall under digital marketing. Online marketing needs a good approach in areas of design, development and advertising. A company with a total web site marketing plan will have more success online than one that has just designed a web site without thinking of how to market their company through it.Offline MarketingOffline marketing, the opposite of online marketing, includes all forms of marketing that arent done on the Internet. Examples of offline marketing are local advertising in newspapers and on television. In todays marketing world, companies are finding ways to leverage their offline marketing campaigns with their online ones, making them complement each other.Outbound MarketingWhen you think of marketing, the different forms you come up with are mostly outbound marketing (also called traditional marketing). In fact, the majority of companies today are using different types of outbound marketing to reach their potential customers. Outbound marketing includes any marketing efforts that are taken to introduce a product or service to someone who isnt looking for that product or service. Some examples are cold calling, sending newsletters, billboards, and banner ads on different web sites.Inbound MarketingInbound marketing focuses on having your company found by customers, as opposed to reaching out to them directly like in outbound marketing. The important thing to remember here is that a person starts out with the want/need to purchase a product or service, and they go out to find it. When they search for that product/service on a search engine, the search engine results page will show inbound marketing results. Instead of using paid advertisements, inbound marketing is the search engine optimization (SEO) part of web marketing.Newsletter MarketingNewsletter marketing and email marketing refer to ways of promoting your company through emails. Typically, a firm using newsletter marketing will have a group of contacts that they will send a newsletter containing some interesting information to. The success of newsletter marketing depends on grabbing attention, writing good content and reaching a large number of potential clients.Article MarketingBusinesses will often write articles related to the industry they are in and distribute them online and offline. These free articles will inform people about an important topic and give the company that wrote it more credibility within the market. The organization can also include their business contact information in the article, allowing them to get new clients.Trade Show MarketingCompanies that want to reach a large number of potential customers can participate in public or private trade shows. Trade shows and other forms of event marketing are often a large investment to participate in, but trade shows allow companies to demonstrate new products and examine what is going on in the industry.Search MarketingSearch engine marketing (SEM) is the way in which companies promote their business through paid placement on search engines like Google. Instead of increasing the organic search results that a website has, companies will pay to have their advertisements in the sponsored section of search engines.Direct MarketingDirect marketings main goal is to send a message directly to consumers, without having to use any third party outlets. Examples of direct marketing include mail marketing, telemarketing and direct selling. Direct marketing is often preferable because the results can be easily measured, giving the marketer a better understanding of the success of that campaign.Niche MarketingWhen a product or service is not being readily supplied to a certain portion of a market, a company can focus their efforts on that niche to address a need that isnt currently being addressed. This targeted marketing is successful because the marketer has identified a need that isnt being resolved by mainstream providers. Sometimes it is beneficial for a company to focus on a niche instead of trying to compete in a larger market.Drip marketingDrip marketing is the act of sending out scheduled targeted emails that are all coordinated to a specific goal of client conversion. The sender uses email marketing software that allows them to setup multiple emails at one time and let them drip over time. This sometimes includes phone calls to check in on the clients along the way.Social Media MarketingSocial network marketing and social media campaigns provide a window to market a product or service on the Internet through different social networks. Companies can use these outlets for their marketing, customer service and sales. The most common and successful means of social media marketing are found on sites like Facebook, Twitter, LinkedIn, YouTube and even company blogs.Referral MarketingOne of the less strategic types of marketing, referral marketing relies on a companys customers to refer new customers to that company. Also called word of mouth marketing, this is a more spontaneous way of receiving new business, and can not be solely relied on because results arent very predictable. However, word of mouth is still a powerful part of a companys efforts to bring in new business, especially in the social media community where communication travels freely.Guerrilla MarketingWith a smaller budget, guerrilla marketing makes a splash by relying on energy, timing and unusual approaches to get the consumers attention. The unconventional marketing involved tries to get the most out something small, and make a lasting brand image in the consumers mind.Promotional MarketingPromotional marketing is a common form of marketing strategy that companies use to motivate a consumer to make a decision and purchase their product. There are a number of ways that businesses will promote a product or service, including holding contests to win a prize, offering coupons for purchasing a product at a discount, and having samples of the product so people can experience it before they purchase.Affiliate MarketingAffiliate marketing most likely involves four different groups that contribute to the marketing effort. The Merchant is the company that is producing and selling the product, the Network is the outlet that is used to promote the affiliate link, the Publisher or Affiliate is the person who has the website with the affiliate ad and of course the customer doing the purchasing. Affiliate links are found on all types of websites, and they are used to drive traffic to outside websites.Viral MarketingThis type of marketing relies on the message of a marketer being spread quickly through various social networks in order to increase brand awareness. The name viral marketing stems from the rapid spread of viruses in general. Typically, a viral marketing campaign will not last as long as other marketing efforts, but if a company can come up with a good idea for viral marketing and reach the right people, it will become highly successful in a short amount of time.B2B MarketingAny type of business, whether an organization, individual, government or other institution that markets to other businesses is involved in business to business marketing. Since B2B marketing involves companies trying to sell mass quantities of product to one another, there is a more personal relationship that needs to be established between businesses. If your company sells to other businesses, your marketing efforts will most likely be more direct.B2C MarketingBusiness to consumer marketing campaigns try to reach a category of people that will be likely to purchase their product or service. The marketing efforts the company takes should be more broad than B2B, which focuses on specific companies. B2C marketing can involve different marketing techniques such as door to door marketing, promotion marketing, newspaper marketing, television marketing and radio marketing. In todays marketing world, B2C Internet marketing is becoming more important to reach consumers.Mobile MarketingAlong with Internet marketing, mobile marketing is part of the newest groups of marketing activities. Companies have been experimenting with the certain ways to reach consumers through their phones, especially with the rise of Apples iphone. Some ways to marketing a product or service through a mobile phone include SMS marketing, in-game marketing, banner marketing on different web pages and location based marketing.Reverse MarketingThis form of marketing is similar to inbound marketing. The goal of reverse marketing is to market a product in a way that will cause the consumer to seek the firm doing the marketing. Reverse marketing can be conducted through such means as television, print and Internet marketing. If a company has a product that solves a problem in the market, they will have more success using reverse marketing because they will seek out that product.TelemarketingA form of direct marketing, telemarketings focus is on reaching consumers by phone. Most of what we thing of as telemarketing is cold call marketing, which is unpopular and has lead to laws being created against it. However, telemarketing can be effective if the right person is reached on the phone at the right time.Direct Mail MarketingMost people receive large quantities of marketing material in the mail, which is considered direct mail marketing. Companies will send paper mail with promotions or other information to a list of addresses, usually in a common geographical area. This form of marketing is also called junk mail by some, because the customers receiving the mail arent expecting it and usually dont want to open it.Database MarketingDatabase marketing is similar to other types of direct marketing, but the focus is more directed towards analyzing data. Companies try to narrow their marketing efforts down to certain groups of people, and they use database marketing to analyze statistics like name, address, or sales history, in order to create the most accurate model possible.Personalized marketingThe goal of personalized marketing is to create a unique offer for each individual customer. This form of marketing doesnt work for every company, but certain ones can capitalize on their unique products and customer demographics to market to individuals. With the Internet becoming a more popular place for marketing, companies are finding that personalized marketing is affective in cases when they can track a customers specific interests and send them more information for future suggestions.

The Marketing Mix(The 4 P's of Marketing)

Marketing decisions generally fall into the following four controllable categories: Product Price Place (distribution) PromotionThe term "marketing mix" became popularized after Neil H. Borden published his 1964 article,The Concept of the Marketing Mix. Borden began using the term in his teaching in the late 1940's after James Culliton had described the marketing manager as a "mixer of ingredients". The ingredients in Borden's marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingredients into the four categories that today are known as the 4 P's of marketing, depicted below:

The Marketing MixThese four P's are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four P's on the customers in the target market in order to create perceived value and generate a positive response.

Product DecisionsThe term "product" refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made: Brand name Functionality Styling Quality Safety Packaging Repairs and Support Warranty Accessories and servicesPrice DecisionsSome examples of pricing decisions to be made include: Pricing strategy (skim, penetration, etc.) Suggested retail price Volume discounts and wholesale pricing Cash and early payment discounts Seasonal pricing Bundling Price flexibility Price discriminationDistribution (Place) DecisionsDistribution is about getting the products to the customer. Some examples of distribution decisions include: Distribution channels Market coverage (inclusive, selective, or exclusive distribution) Specific channel members Inventory management Warehousing Distribution centers Order processing Transportation Reverse logisticsPromotion DecisionsIn the context of the marketing mix, promotion represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response. Marketing communication decisions include: Promotional strategy (push, pull, etc.) Advertising Personal selling & sales force Sales promotions Public relations & publicity Marketing communications budget

Limitations of the Marketing Mix FrameworkThe marketing mix framework was particularly useful in the early days of themarketing conceptwhen physical products represented a larger portion of the economy. Today, with marketing more integrated into organizations and with a wider variety of products and markets, some authors have attempted to extend its usefulness by proposing a fifth P, such as packaging, people, process, etc. Today however, the marketing mix most commonly remains based on the 4 P's.MARKETING VS SELLING Difference between Selling and Marketing

Marketing is much wider than selling and much more dynamic.

The fundamental differance between the two is that selling revolves around the needs

and interest of the seller.

Where as Marketing revolves around the needs and the interest of the buyers.

Selling is an inside-out perspective. Its starts from factory, focuses on the company's

existing products, and calls for heavy selling and promotion to obtain profitable sales.

Marketing takes an outside-in perspective It starts with a well defined markert, focuses

on customer needs, co-ordinates all the marketing activities affecting customers,

makes profits by creating customer satisfaction.

Marketing is primarily about research - identifying potential buyers and then finding the

best way to introduce your product to them.

Selling is about overcoming objections. It is a one to one technique where the seller

helps the buyer to reach a decision. Selling is when all marketing research is applied at

the point of sale.

Marketing is an art as well as a numbers game.sales is more of an art only.

Broadly,Marketing creates the atmosphere to make it easy for sales to happen.

Marketing consists things like:

Marketing Strategy,target market etc.

Sales" obviously is getting out and writing the orders ... tough disciplined work. This involves skills like "closing" the sale - very different skills to MarketingGood sales people do not make good marketers and vice versa ...

A marketeris a creative person, a law unto himself, a person with few boundaries, a person who lives inside the head of your customer, a person who dreams and creates at any/all hours of day and night, a person who can send normal disciplined people crazy.

1.Which among the following is not a internal factor of Marketing Environment?(A)Policy of the firm(B)Marketing Distribution Channel(C)Labor Policy of the GovernmentAns- (C)

2.Which among the following does not come under social environment of marketing?(A)Life Style(B)Caste System(C)Size of PopulationAns-(C) size of population comes under Demographic Environment

3.Which among the following are called final accounts of a Bank ?(A)Trading Account, Profit & Loss Account and Balance Sheet(B)Profit & Loss Account and Balance Sheet(C)Balance Sheet OnlyAns- (B)

4.Loan & Advances of a bank come under which of the following category ?(A)Assets(B)Liabilities(C)CostsAns-(A)

5.What is the full form of ECB ?(A)Extra Commercial Banking(B)Extra Commercial Borrowings(C)External Commercial BorrowingsAns-(C)

6.Which among the following is correct regarding call option & put option in currency markets?(A)Call option is for sellers & Put Option is for Buyers(B)Call Option is for Buyers & Put option is for sellers(C)none of them is correctAns-(B)

7.All the foreign exchange of the country ultimately goes to which of the following ?(A)Ministry of Finance(B)Reserve Bank of India(C)Finance SecretariatAns- (B)

8.In the Banking Environment , which among the following is the internal factor?(A)Customer(B)Staff(C)MarketAns-(B)

9.Which among the following is NOT a controllable factor of Marketing Environment ?(A)Labeling of a Product(B)Policy of the firm(C)Organizational StructureAns-(A)Labeling requires some legal aspects.

10.Employee of a Bank comes under which of the following environment ?(A)External Environment(B)Internal Environment(C)Indirect EnvironmentAns- (B)

11.Bulk Breaking comes at which part of the marketing channel ?(A)Wholesaler(B)Distributor(C)RetailerAns-(C)

12.Which among the following media has most effective visual impact on a customer?(A)News paper(B)TV(C)RadioAns- (B)

13.The desirability and profitability of advertising can be judged by which of the following ?(A)Selection of media.(B)Coordination of marketing & advertising(C)Return on InvestmentAns-(C)

14.Telemarketing is effective in _______ ?(A)Industrial Marketing(B)Consumer Marketing(C)Industrial as well as Consumer MarketingAns- (C)

15.Which among the following is the smallest retailing unit?(A)Departmental Store(B)Specialty Stores(C)Convenience StoresAns- (C)

16.Which among the following is the largest retailing Unit?(A)Cash & Carry Store(B)Super market(C)Hyper marketAns-(C)

SALES PROMOTION AND ADVERTISING

What is Sales Force Management? What is its Importance? What are the steps of Process of Sales Force Management in modern Marketing? Tell the Winning Tips of Sales Team?

Definition of Sales Force Management

Sales force management is one work of personnel department. Personnel manager recruits, selects and trains salesmen and sales personnel. Sales force is nothing but the team who are involved in sales related activities. Sales force management means decisions relating to sales team. Right person should be appointed at right place, at right time and he should do right working in sales field of company.Inmarketing, if sales force will be perfect, relation can be created with others. Steps of sales force management process1st StepDetermination the sales force objectivesBefore creating sales force management, it is very important that fix one or all of following objectivesa) Sales Volume : How much will the sale team has to sell in specific time? - Sales targetb) Market Share: % of total share of market for a product.c) Profit: To increase ROI2nd StepDetermination of Sales force sizeIt is affected with need of organisation and cost of per sales man. Over loading and under loading of sales team will be misuse of money.3rd StepRecruitment and Selectiona) Recruitment is the list of qualified applicants of sales men.b) Selection : Choose the best sales team.4th StepTraining of Sales Teama) What to teach? - About the company and its product.b) Whom to teach? - New Salesmenc) Where to teach? - On job or off job.d) How to teach ? By expert.5th StepCompensating the Sales persons:Basic salary + Incentive + other Commission and allowance and TA6th StepMotivating salesmenBy job security + opportunity of promotion + award + reward7th StepDetermination the area of salesmena) on geographical basisb) on basis of distance travelled8th StepControlling and evaluation the sale force performance:Salesman's performance can be evaluated on the following basisa) average no. of calls per dayb) average sales per customerc) no. of new customer orderd) average gross profit per customerWinning Tips for managing sales team1. Selecting best salesmenAccording to object of company, company has to make some minimum standard for clearing the interview by a new fresher who wants to become salesman. Following are best questions for talking or taking interview from new candidate:a) How do you feel about talking strangers?b) What is your opinion of salesman in general?2. MotivationIf you want to get performance from salesmen, it is your duty to motivate them daily.3 Stories of successful salesman of the world.It is good to make Strong salesmen. With telling the story of great and successful salesmen, new salesmen can easily learn that for becoming successful salesman, he or she has to face failure , but he or she will not loose courage. After this, he or she can easily become successful businessman like me.

SALES PROMOTIONDefinition of Sales Promotion

Sales promotion is the technique in which salesman gives incentives to consumers for increasing the selling of hisproducts.

Major Steps in Sales Promotion:

1st Step :

Setting of Objective

a) Target market - get consumersb) switch away the market from competitorsc) Free trial for new users.

2nd Step:

Setting of Sales Promotion Tools :

a) Free Sample

b) Gift Coupons

c) Rebate or discount on sale

d) special facility : Free delivery

e) Contest, games and prizes

f) some quantity free with purchasing large scale.

g) Buy back guarantee

3rd Step

Setting Time Period for promotion

Fix month, week or days of promotion

4th Step

Setting test before large scale sales promotion

Test promotion incentive in small segment of market.

5th Step

Evaluation

Check the effect of promotion on sale

+ point :increase the sales

- point :decrease the sale

ADVERTISING

Advertising and Strategy which is Used in Advertising

Simple Definition of Advertising

Advertising is a technique in which company promote his sale without existence of any person. Advertisement is contract between advertiser and advertising companies. Advertiser pays money to advertising company. Advertising company uses his resource for showing the ads to public places. It is impersonal presentation of message of advertisers.

Following is the example of Ads

Come at Shop No. 4201 and Buy garments at 50%discount

Above ads can be shown in banner for or can be distributed in pamphlet form.

Big company has its own department and its name is advertising department. This department manages ads of company.

Strategy which is used in Advertising

1. Setting the advertising objectives

First of all, fix the objectives of advertising. Following are the three objectives of advertising

a)Information :Provide information of newproduct

b)Position of the Brand :Position the brand in the minds of buyers

c)Reminding :Just remind to buy again

2. Setting the Advertisement Budget

You also set the advertisement budget . It should not be very high or very low. But it should be optimum. After seeing stage of life of product cycle and competitors policy, we should decide minimum amount for advertisement.

3. Setting of advertisement message

Advertisement message should be creative, attractive. It must not make false claims.

4. Setting the media

a) Newspaper

+ point : Flexible, good for local market advertisement

- point : Short life

b) TV

+point: High attention, long life

- point : High cost

c) Radio

+ point : flexibility, large coverage, less cost

- point : lower attention

d) Magazines

+point : Quality reproduction

- point : some waste circulation

e) Brochures

+ Point : flexibility, full control

- point : over production

f) Telephone

+ point : Personal touch

- high cost

5. Evaluation the effect of advertising

a) Check the effect on sale

Try to check its effect on sale if sale has been increased due to this, it means advertising is successful otherwise change the budget, media or message .

b) Check the effect of communication

We also have to check the effect of advertising on communication.

MARKETING CONCEPT Definition of MarketingMarketing includes all activities for transferring goods from producer to consumers. Its main aim is to sell and satisfy the consumers. Today, markets king is consumer. So, marketing provides you good technique to handle customers. Main Marketing Concept1. Production ConceptThis concept guides us that we should produce the products at minimum production cost.2. Product ConceptThis concept guides us that we should sell the best quality product to consumers.3. Selling ConceptSelling concept guides us that we should take minimum selling price from consumer. For this we have to decrease our selling cost.4. Marketing ConceptMarketing concept guides us that in this era, consumer is king of market and all marketing activities main target should be to satisfy the consumers.Customer satisfaction is the focal point pf marketing.we start marketing from identify the needs and want of the customer,

NEW PRODUCT DEVELOPMENT PROCESS Definition of Product

Product is the tangible and intangible things which satisfy the needs of consumers. It means not only physical things which we purchase are the products but all the services of other persons are also product. For example TV, computer, watch, food, house and Taxi driver's services are also products which we can purchase and satisfy our needs.

Following are the seven stages or steps in development of a new product

Ist stage

Idea generation

Idea generation is the first stage of product development. For developing a product, company takes the idea from his internal and external sources.

internal sources of idea generation

a) basic research on google b) idea from production department c) sales men's idea d) top management's idea

external sources of idea generation

a) business magazine b) competitors c) necessity of consumers c) inventor's idea

*

Idea should be helpful for satisfying consumer's need, other wise drop the idea. For taking second step ask from yourself, is it worth considering - if yes, then take second step

2nd Stage

Idea Screening

It is the second stage or step of development of new product. After collecting large number of idea for making new product, company will analyze them with his technical screening system or team and drop bad idea. Idea screening is helpful

a) to reduce the chance of development of product on the basis of poor idea.

b) to reduce the chance of not developing the product on the basis of very good idea.

*

Technical base of idea screening

Company can enumerate his employees to make check list for idea screening.

value of idea

basis of screening

good idea - should be selected

bad idea - should not be selected

3rd Stage

concept testing

This is the third stage of development of new product. In this step, we test the product's development with in company before actual launch in the market for following purpose.

a) To know

whether our buyer will buy it or not?

b) To know

whether it will be suitable for consumer according to their need of product?

* Company can also use computer for lab testing

4th Stage

Business Analysis

This is the fifth stage of development of new product. In this stage, company calculate his overall return on investment, if company will launch the product. If it is profitable, company will produce it otherwise, drop his plan because company's money is not money of one man or employee but this money is invested by large number of investors. So, board of directors can not waste it by unprofitable production of new product. For calculating this, they will analyze

a) demand b) cost c) profitability5th Stagel Product development

After this, company's R and D department produces one or two sample of products and check it.6th Stage

Market Testing

In this step or stage, company launches product in very small part of market as market test and for knowing the interest of consumers, dealers and retailers. If consumers' reaction are good, company will take the next action.7th Stage

Commercialization

In this step, company manages large scale production, marketing and commercialization of new product with following marketing strategy.

a) when to produce - fix the time

b) where to produce - fix the geography

c) to whom to sell - target marketing strategyd) How - Brand Strategy.

PRODUCT LIFE CYCLE PRODUCT LIFE CYCLE

Product life cycle shows the different stages in which it lives his life just as human being. A human being enjoys childhood, youth age and old age and after this, it is sure he will die. Same thing happens with all products. Product life cycle has four parts. In first stage introduction, second stage is stage of growth, third is the stage of maturity and in the end stage is decline. After this, value of product is totally dropped from market due to invention of new product. We can portray its sketch on the graph paper. Its shape will be bell shape.

Its strategies are divided in Four stages according to life of product.

Ist Stage

Introduction stage of Product life cycleFirst stage of plc is called introduction stage. In this stage, product is newly developed and launched in the market. Because, consumer does not know about this product earlier, so its marketing is very difficult. Marketer has to teach the consumers about its benefits and its advance facilities . For new product's introductory stage, marketer can take the market with marketing skimming strategy or marketing penetration strategy. One more feature of this stage that company sale will be low.

2nd StageGrowth stage of Product life cycleIn this stage, consumer knows the product because he has taken past experience after purchasing it at introductory stage. So, sale will increase. In this stage, company can increase the price for getting old promotion and advertising cost. Company can pay more on advertising for developing product brand image in the minds of consumers. In this stage company's profit will also rise.

3rd StageMaturityAt this stage product life cycle, our sale reaches at highest level. Product is become well known in the market. In this stage, we have to decrease our price for taking maximum part of product and defeating market competitors. Company can offer special discount to dealer for selling fast before reaching it declining stage.

4th StageDecline StageAt this stage, sales fall very sharply. No more new customer wants to buy it . At this stage, company can offer public to switch to his new advance product. Company can take milk from brand name without any new advertising cost.

MARKET SEGMENTATIONMarket segmentationis a technique in which companies divide their large hetrogeneous market into small homogeneous groups. This small division is very helpful to reach the specific consumer and providing his bestproductaccording to his need. There are large number of buyers in the market and market has been made big. So, it is very necessary to segment or divide into small parts according to the needs, wants, location of consumers.

Major basis or Ways or Approaches for segmenting consumer and business market

[ A] Segmenting Consumer Market1. Geographic SegmentationIf a company divides his business market according to the geographical location, then it will be geographic segmentation. Segmentation is done on the basis of nations, regions, states countries, cities and villages.

2. Demographic SegmentationIn this segmentation, company divide the market into small parts on the basis of age, gender, family size and income.For example, we can divide market according to age of consumersWe can develop products for young - Segment AWe can also develop products for old - Segment B3.Gender SegmentationIn this division company divides market according to male and female need. This division can be seen in clothing business.

4. Income SegmentationThis segmentation can be used for selling financial products and automobile industry.Suppose a company makes cars. Then its price will be divided according to the income of consumers

a) Car for high income classb) Car for middle income class

5. Psychological SegmentationThis division is done according to life style and personality of consumer. You can see different makeup and fashion products in the market which are affected with the psychology of consumers.

6.BehavioralSegmentationThis division is done according to a) knowledge of consumers b) attitude of consumers c) response of consumers

For example

i) products for first time users

ii) products for regular users

[B] Segmenting the Business MarketBusiness market can not divide only above basis but we can divide it on the basis of Zip codes, level of populationand IP address of computer also.

[C] Segmenting of International MarketFor segmenting our international market, we have to study international economy and political environment of each country. After this, we can make and fix the target to sell specific product for specific country according to the need of consumer of that country. It is not necessary that same product will be sold in two or more country. Company should watch cultural factors of different country also.

What is consumer behavior? What are main factors affecting consumer behavior and what are the stages or steps of buying decision process?

Definition of Consumer Behavior

Consumer behavior is the study of all factors which affect consumer's buying decision. It is the technique to analyze the psychology of consumer. It is very helpful for selling theproductsto all consumers and satisfy them. In simple words, with the study of consumer behavior, you can know:

a) When will our consumer buy the goods? - To know the correct time

b) Why will he buy the goods? - Know the need of consumer

c) How will he buy the goods? - Process of buying

d) Where will he buy the goods? - Place

Factor affecting consumer's behavior

1. Cultural factors

Culture affects consumer behavior very deeply. Following are the main components of cultural factors.

i) Nationality

Consumer buying decision is affected by nationality of consumer. Need of Indian consumer is different from need of USA consumers

ii) Religion

There are many religion In India. We can not domarketingof drinks for Hindu religious persons, because their behavior is affected by their religion. There religion teach them not to drink alcohols.

2. Social Factors

Consumer's behavior is also affected with many social factor whose list, we can make in following way

a) Reference group

friends, relatives, neighbours, co-workers and classmates

b) Family

father, mother, sister and brother

c) Role and status

peon, clerk and manager

3. Personal Factors

Age of person, his stage in life cycle and his personal occupation also effect his behavior. Children age is age of fun andthey can demand education and fun products. After marriage, young couple can demand house for living but at the old age, you can demand health products.

4. Psychological factors

Following are the psychological factors which affects consumer's behavior.

a) motivation b) love c) morality d) security of body e) security of employment

Steps Of Buying Decision Process1st StepToIdentify the need of Product

This is the first step of buying decision process in which marketer estimates consumer's need of products. Consumer can buy the product for satisfying his basic and other needs.

2nd StepCollection of Information

After this, consumer will search for buying best product, he can search on Internet or can take help of friends, neighbours and newspapers for find quality product.

3rd StepEvaluation of Alternatives

After this, buyer will evaluate all alternatives from where he can buy the product. He will choose the best alternative for buying the product.

4th StepPurchase decision

In this step, buyer buys the product by physically going to market or by giving the order online.

5th StepPost Purchase Behavior

After purchasing, buyer uses the product and shows his behavior by following ways

a) He is satisfied from the productc) He is not satisfied from product

WHAT ARE THE BRAND & BRANDING? WHAT ARE THE MAIN STRATEGIES OF IT?Definition of Brand of CompanyBrand means name, symbol or design of the product of company. It creates difference of one company's product with other competitor company's product.Definition of Branding of CompanyBranding is technique in which company provides the name and design to each product for creating a special identity. It is helpful for consumer to identify special quality product or products in market.

Strategies of Branding of CompanyFollowing are the main branding strategy which can be used for making and developing of new brand.

1. Brand Positioning StrategyBrand positioning means bring the brand name of company in mind of customer. When a customer goes to market and he or she should demand of specific product. It means company is successful to position the brand in the mind of consumer. Company must be careful while positioning the brand.

a) It must not be copied from other brand.b) Company's brand shows the benefits of products.c) It simply convey the idea of belief and values of company.

2. Brand Name Strategy

You often see that one company's brand name are easily copied due to weakness of brand selection. For example YouTube.com video site's brand name has been copied by many other site like utube.com etc.So be careful when you are creating the name of brand.

a) It should tell the quality of product.b) It should be easily to pronounce, recognize and remember.c) It should easily be translated.

d) It should be capable for legal protection.

3. Brand Sponsorship

a) National brandSometime, a company can spend money for marketing of company brand as nation or international basis.

b) Middle men's brandIt is private brand which is created by middlemen.

c) LicensingSometime, company can take the brand of other company on license basis for increasing sale.

d) Co-brandSometime, company can contract with other company and mix other company brand as co-brand with his products brand and sell after this.e) Takeover the brandGoogle takeover the YouTube, so, its brand is also taken over by google.

4. Brand Developmenta) Main name of brand + one more line which shows the quality of productb) Use the same famous brand in other products.c) Multi brand - Two or more name brand of same product.

5. Brand Managementa) Brand EquityFor brand management, management calculates the estimated value of brand. It shows as brand equity. It is an asset of company. Suppose, Lux, company creates lux brand equity fund with Rs. 9000000 and utilizes it for advertising, now its brand has becomes famous. Company can calculate its estimated value and try to protect it by opening brand asset management team.

MARKETING INFORMATION SYSTEM MARKETING INFORMATION SYSTEMehavior,marketing managementDefinition of Marketing Information System ( MIS )MarketingInformation systemis to collect, sort, analyze, evaluate the information relating to marketing. After this, information is distributed to marketing decisions makers. Internal company records and marketing research are the main sources of marketing information .

Need and Importance and Advantages of Marketing Information System or System to Handle Marketing Information:1. For making marketing planningMarketing information system is very useful for making marketing planning. With MIS, we get useful information for marketing short term and long term plans. Suppose, we are new banking company for providing loans to students. But, if our MIS gives us the correct information about how many companies are already providing this facilities, then we can make good strategic planning according to this.

2. Helpful to marketing controlWith MIS, we can control marketing risk and our decision becomes effective.

3. Helpful to convert raw data into useful marketing informationMIS makes perfect system in which information providers can easily convert raw data into useful marketing information.

4. IntegrationMarketing information system creates integration between all departments.

5. Improve the data capture processMIS has a perfect system in which there are many steps to collect and convert into useful information. So, it improves the data capture process.6. Helpful in transfer of InformationMIS makes way easy for transferring the information to those who need it.

Types of Marketing Information System( I ) Classification which is based on the purpose of information.( II ) Classification which is based subject matter of the informationSteps of Marketing Information System (MIS)Ist StepDefining the information need2nd StepClassification of information3rd StepEvaluation the cost of collecting the information4th StepIdentifying the source of information.

SWOT Analysis

A scan of the internal and external environment is an important part of the strategic planning process. Environmental factors internal to the firm usually can be classified as strengths (S) or weaknesses (W), and those external to the firm can be classified as opportunities (O) or threats (T). Such an analysis of the strategic environment is referred to as aSWOT analysis.The SWOT analysis provides information that is helpful in matching the firm's resources and capabilities to the competitive environment in which it operates. As such, it is instrumental in strategy formulation and selection. The following diagram shows how a SWOT analysis fits into an environmental scan:

SWOT Analysis FrameworkEnvironmental Scan

/\

Internal AnalysisExternal Analysis

/ \/ \

StrengthsWeaknessesOpportunitiesThreats

|

SWOT Matrix

StrengthsA firm's strengths are its resources and capabilities that can be used as a basis for developing a competitive advantage. Examples of such strengths include: patents strong brand names good reputation among customers cost advantages from proprietary know-how exclusive access to high grade natural resources favorable access to distribution networks

WeaknessesThe absence of certain strengths may be viewed as a weakness. For example, each of the following may be considered weaknesses: lack of patent protection a weak brand name poor reputation among customers high cost structure lack of access to the best natural resources lack of access to key distribution channelsIn some cases, a weakness may be the flip side of a strength. Take the case in which a firm has a large amount of manufacturing capacity. While this capacity may be considered a strength that competitors do not share, it also may be a considered a weakness if the large investment in manufacturing capacity prevents the firm from reacting quickly to changes in the strategic environment.

OpportunitiesThe external environmental analysis may reveal certain new opportunities for profit and growth. Some examples of such opportunities include: an unfulfilled customer need arrival of new technologies loosening of regulations removal of international trade barriers

ThreatsChanges in the external environmental also may present threats to the firm. Some examples of such threats include: shifts in consumer tastes away from the firm's products emergence of substitute products new regulations increased trade barriers

The SWOT MatrixA firm should not necessarily pursue the more lucrative opportunities. Rather, it may have a better chance at developing a competitive advantage by identifying a fit between the firm's strengths and upcoming opportunities. In some cases, the firm can overcome a weakness in order to prepare itself to pursue a compelling opportunity.To develop strategies that take into account the SWOT profile, a matrix of these factors can be constructed. The SWOT matrix (also known as aTOWS Matrix) is shown below:SWOT / TOWS MatrixStrengthsWeaknesses

OpportunitiesS-O strategiesW-O strategies

ThreatsS-T strategiesW-T strategies

S-O strategiespursue opportunities that are a good fit to the company's strengths. W-O strategiesovercome weaknesses to pursue opportunities. S-T strategiesidentify ways that the firm can use its strengths to reduce its vulnerability to external threats. W-T strategiesestablish a defensive plan to prevent the firm's weaknesses from making it highly susceptible to external threats.

IMPORTANT QUESTIONS RELATED TO SBI PO PREPARATIONMarketing Knowledge 1. Regulations that arise to ensure that firms take responsibility for the social costs of their products or production processes stem from which reason for government legislation of business?(a) To protect companies from each other(b) To protect consumers from unfair business practices(c) To protect the interests of society(d) To protect businesses from unfair consumer demandsAns :C

2. A "three-day cooling off period" in which buyers can cancel a contract after re-thinking it is to protect the consumer from:(a) creative selling (b) high pressure selling (c) detail selling (d) hard core sellingAns :B

3. One of the most promising developments in multivariable segmentation is called _____ where a host of demographic and socioeconomic factors are used(a) terragraphic segmentation (b) fermagraphic segmentation(c) geothermy segmentation (d) geodemographic segmentationAns :D

4. One of the most common problems with using internal database information is that:(a) since it was probably collected for some other purpose, it may be incomplete or wrong.(b) it is usually expensive to retrieve.(c) top executives are usually unwilling to relinquish data, therefore, the data has limits.(d) the data is almost always unsecured and therefore, suspect as to reliabilityAns :A

5. The last stage in the selling process is the _____ stage.(a) approach (b) handling objections (c) closing (d) follow-upAns :D

6. When Coca-Cola and Nestle formed a joint venture to market a ready-to-drink coffee and tea worldwide, the type of marketing system that was formed would best be described as being a(n):(a) vertical marketing system (b) parallel marketing system(c) diversified marketing system (d) horizontal marketing systemAns :D

7. The major advantage of survey research is its:(a) simplicity (b) structure (c) organization (d) flexibilityAns :D

8. The _____ holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency)(a) product concept (b) production concept(c) production cost expansion concept (d) marketing conceptAns :B

9. A ____ is any activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything(a) demand (b) basic staple (c) product (d) serviceAns :D

10. _____ is a person's distinguishing psychological characteristics that lead to relatively consistent and lasting responses to his or her own environment(a) Psychographics (b) Personality (c) Demographics (d) LifestyleAns :B

11. The place in the business buying behavior model where interpersonal and individual influence might interact is called the(a) environment (b) response (c) stimuli (d) buying centerAns :D

12. The course of a product's sales and profits over its lifetime is called(a) the sales chart (b) the dynamic growth curve(c) the adoption cycle (d) the product life cycleAns :D

13. When companies make marketing decisions by considering consumer's wants and the long-run interests of the company, consumer, and the general population, they are practicing which of the following principles?(a) Innovative marketing (b) Consumer-oriented marketing(c) Value marketing (d) Societal marketingAns :D

14. All of the following are thought to be sources if new product ideas EXCEPT.(a) internal sources (b) customers (c) competitors (d) the local libraryAns :D

15. If Honda uses its company name to cover such different products as its automobiles, lawn mowers, and motorcycles, it is practicing which of the following strategies?(a) new brand strategy (b) line extension strategy(c) multibrand strategy (d) brand extension strategyAns :D

16. If a company (considering its options on the product/market expansion grid) chooses to move into different unrelated fields (from what it has ever done before) with new products as a means to stimulate growth, the company would be following which of the following general strategies?(a) market penetration (b) market development(c) product development (d) diversificationAns :D

17. When a marketing research organization chooses a segment of the population that represents the population as a whole, they have chosen a _____(a) group (b) bi-variant population (c) sample (d) market targetAns :C

18. Joining with foreign companies to produce or market products and services is called(a) direct exporting (b) indirect exporting (c) licensing (d) joint venturingAns :D

19. If advertising constantly sends out messages about materialism, sex, power, and status, which of the following categories of social criticism most closely matches this problem?(a) Too much advertising (b) Too few social goods(c) Cultural pollution (d) Too much political powerAns :C

20. A(n) ____ is a name, term, sign, symbol, or design, or a combination of these that identifies the marker or seller of a product or service.(a) product feature (b) sponsorship (c) brand (d) logoAns :C

21. If an advertiser wants flexibility, timeliness, good local market coverage, broad acceptability and high believability, the advertiser will probably choose which of the following mass media types?(a) Newspapers (b) Television (c) Direct Mail (d) RadioAns :A

22. When producers, wholesalers, and retailers as a unified system, they comprise a(a) conventional marketing system (b) power-based marketing system (c) horizontal marketing system (d) vertical marketing systemAns :D

23. The type of trade-promotion discount in which manufacturers agree to reduce the price to the retailer in exchange for the retailer's agreement to feature the manufacture's products in some way is called(a) discount (b) allowance (c) premium (d) rebateAns :B

24. The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics is called:(a) Geothermy (b) Demography (c) Ethnography (d) Hemos-popographyAns :B

25. Today, advertising captures about ___ percent of total promotion spending(a) 15 (b) 23 (c) 29 (d) 33Ans :B

26. The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is called:(a) Marketing strategy (b) Marketing control(c) Marketing analysis (d) Marketing implementationAns :D

27. The goal of the marketing logistics system should be to provide:(a) a targeted level of promotional support.(b) a targeted level of customer service at the least cost.(c) a targeted level of transportation expense ratio.(d) a targeted level of field support.Ans :B

28. The practice of going after a large share of a smaller market or subsets of a few markets is called:(a) undifferentiated marketing (b) differentiated marketing(c) concentrated marketing (d) turbo marketingAns :C

29. The shrinking of distances due to technological advance such as computer and fax connections by telephone, are one characteristic of what new challenge to marketing?(a) Rapid globalization(b) The changing world economy(c) The call for more socially responsible marketing(d) The micro-chip revolutionAns :A

30. If Mark Mars pays Hershey Foods Corporation for the right to use their name on his line of T-shirts, then Mr. Mars is using which type of branding?(a) Licensed brand (b) Manufacturer's brand(c) Private brand (d) Co-brandAns :A

31. If your company were to make light bulbs to be used in photocopies, you would most likely be selling to a ______ market.(a) reseller (b) business (c) government (d) serviceAns :B

32. _____ has the advantage of being high in selectivity; low cost, immediacy, and interactive capabilities(a) Direct Mail (b) Outdoor (c) Online (d) RadioAns :C

33. If your company were to make a product such as a suit of clothes and sold that product to a retailer, your company would have sold to the _______market.(a) reseller (b) business (c) government (d) serviceAns :A

34. In 1985, the Coca-Cola Company made a classic marketing blunder with its deletion of its popular Coca-Cola product and introduction of what it called New Coke. Analysts now believe that most of the company's problems resulted from poor marketing research. As the public demanded their "old Coke" back, the company relented and reintroduced Coca-Cola Classic (which has regained and surpassed its former position) while New Coke owns only 0.1 percent of the market. Which of the following marketing research mistakes did coca-Cola make?(a) They did not investigate pricing correctly and priced the product too high.(b) They defined not investigate dealer reaction and had inadequate distribution.(c) They defined their marketing research problem too narrowly(d) They failed to account for the Pepsi challenge taste test in their marketing effortsAns :C

35. Marketers are sometimes accused of deceptive practices that lead consumers to believe they will get get more value than they actually do. ____ includes practices such as falsely advertising "factory" or "wholesale" prices or a large price reduction from a phony high retail price.(a) Deceptive promotion (b) Deceptive packaging(c) Deceptive pricing (d) Deceptive cost structureAns :C

36. The advantages of audience selectivity, no ad competition and personalization apply to which type of media?(a) Newspapers (b) Television (c) Direct Mail (d) RadioAns :C

37. The first modern environmental movement in the United States began in theAns :(a) 1940s (b) 1950s (c) 1960s and 1970s (d) mid 1980s

Ans :C

38. Costs that do not vary with production or sales levels are called:(a) fixed costs (b) variable costs(c) standard costs (d) independent costsAns :A

39. Each salesperson is assigned to an exclusive area in which to sell the company's full line of products or services in which type of sales force structure?(a) Territorial sales force (b) Product sales force(c) Customer sales force (d) Hybrid sales forceAns :A

40. Techonological advances, shifts in consumer tastes, and increased competition, all of which reduce demand for a product are typical of which stage in the PLC?(a) decline stage (b) introduction stage(c) growth stage (d) maturity stageAns :A

41. Setting the promotion budget so as to match the budgets of the competition is characteristic of which of the following budget methods?(a) Affordable method (b) Percentage-of-Sales method(c) Competitive-and-parity method (d) Objective -and-task methodAns :C

42. ____ is screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible.(a) Idea generation (b) Concept development and testing(c) Idea screening (d) BrainstormingAns :C

43. The type of sales force structure in which the sales force sells along product lines is called a(a) territorial sales force (b) product sales force(c) customer sales force (d) retail sales forceAns :B

44. A company is in the _____ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product.(a) product development (b) commercialization(c) marketing strategy (d) business analysis

Ans :A

45. When personal interviewing involves inviting six to ten people to gather for a few hours with a trained interviewer to talk about a product, service, or organization, the method is called:(a) selective sponsorship (b) probing(c) focus group interviewing (d) the Delphi methodAns :C

46. All of the following factors can affect the attractiveness of a market segmentEXCEPT:(a) the presence of many strong and aggressive competitors(b) the likelihood of government monitoring(c) actual or potential substitute products(d) the power of buyers in the segmentAns :B

47. If a government uses barriers to foreign products such as biases against a foreign company's bids, or product standards that go against a foreign company's product features, the government is using(a) protectionism (b) exchange controls(c) exchange facilitators (d) non-tariff trade barriersAns :D

48. The choice between high markups and high volume is part of which of the following retailer marketing decisions?(a) Target market decisions(b) Product assortment and services decisions(c) Pricing decisions(d) Promotion decisionsAns :C

49. One common misuse of marketing research findings in contemporary business is the tendency for marketing research to:(a) become a vehicle for pitching the sponsor's products(b) become a vehicle for discriminating in the marketplace(c) become a means for raising prices(d) become a means for unfair competitionAns :A

50. The most logical budget setting method is found in the list below. Which is it?(a) Affordable method (b) Percentage-of-Sales method(c) Competitive-parity method (d) Objective-and-task methodAns :D