Service Marketing Online True False and Fill in the Blank Test Set 4

True False and Fill in the Blank Test

Flash Card for True False and Fill in the Blank Test and this flash card test is very useful for for amity, upes, smu, imt cdl and others university/institute distance learning program

QN1. Marketing is a ___process.
Answer

Answer: performing market research

QN2: Primarily 2 types of approaches are adopted by Banks to set prices – 1. ___and 2.___.
Answer

Answer: centralized and Decentralized process

QN3: Market potential is the total projected purchases of all members of a market ___for a specified product during period of time.
Answer

Answer: segment

QN4: Pareto theorised that the amount of consumer satisfaction with a product ___be measured.
Answer

Answer: satisfaction

QN5: Products and ___will allow you to satisfy the customer’s requirements.
Answer

Answer: services

QN6: Marketing is a complex phenomenon that combines both the of business and its practice.
Answer

Answer: process

QN7: Banks are normally subject to 3 types of Banking regulations: (1) Structural regulation, (2) ___regulation and (3) Investor protection.
Answer

Answer: financial

QN8: Total customer value is the bundle of ___customers expect from a given product / service.
Answer

Answer: what

QN9: Marketing Information System consists of gathering, ___and utilising environmental data
Answer

Answer: evaluating

QN10: Merchant Banking activities include placement of ___and raising term loans issued either in domestic currency or foreign currency.
Answer

Answer: credits

QN11: Kotler divided the general marketing environment into ___and ___environment.
Answer

Answer: micro and macro

QN12: Short term planning normally covers ___ year/s period.
Answer

Answer: 5

QN13: Customer delivered value as defined by Kotler is the difference between total customer ___and total customer cost.
Answer

Answer: satisfaction

QN14: Product item refers to a ___product or brand.
Answer

Answer: specific

QN15: Cash Reserve Ratio is the tool being used by RBI to control the fund ___in the Market.
Answer

Answer: transfers

QN16: Corporate branches do not usually handle ___financial services.
Answer

Answer: branch

QN17: No matter how big and successful you become, never act like the___.
Answer

Answer: child

QN18: Advertising is ___and indirect means of one to many communications.
Answer

Answer: direct

QN19: Factoring means purchasing all the ___of customers to relieve them of botheration of recovery.
Answer

Answer: needs

QN20: Controlling the marketing mix is key to successful marketing.
Answer

Answer: True: Failure to control the marketing mix will result to the company not being able to market the product effectively. Their products will remain unknown except for small customers.

QN21: Market implies a situation where buyers and sellers of a commodity interact.
Answer

Answer: True, whenever there is a need for a product of service, the business provides for and the buyer procures such service or product.

QN22: Market segmentation is the process of dividing a company’s competitors into groups or segments.
Answer

Answer: False: Segmentation is dividing the customers into groups so that the company can come up with products and services that deals specifically with a certain segment.

QN23: With Break-even-Analysis, an organisation can determine the price of a product at which it can make Profit.
Answer

Answer: False – is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has “broken even”. A profit or a loss has not been made, although opportunity costs have been paid, and capital has received the risk-adjusted, expected return.

QN24: P.R. and Publicity is one and the same.
Answer

Answer: False: PR is known as public relations while publicity is a by product of public relations.

QN25: For essential products there is no need to bother about consumer expectations.
Answer

Answer: False: Customers expectations should be considered even if it is an essential product. There are other competitors who would get an advantage should this be not considered.

QN26: Total customer value is the value of products produced for total customers for those products.
Answer

Answer: True – it can also be attributed to the satisfaction rating of the customers for a particular product or item.

QN27: Learning is temporary change in behaviour due to reinforced practices.
Answer

Answer: False – as it becomes permanent when applied to practices.

QN28: No concerted efforts are needed to market NRI deposits.
Answer

Answer: True – this holds accurate as long as the percentage limit is not surpassed depending on the market to which limit has set

QN29: Every employee of a Bank should be like a P.R. person.
Answer

Answer: True, since they represent the bank and by their actions the banks reputation can be either tarnished or increased.

QN30: Marketing Plan and Marketing Planning Process are not different.
Answer

Answer: True. In a way the marketing plan is where the process takes its directive from. The process is governed by the plan along with its action plans.

QN31: ATMs are necessarily located outside Bank’s premises only.
Answer

Answer: False. ATMS should also be available in areas where high people traffic can be seen like malls, grocery stores and the likes.

QN32: Habit is the natural extension of learning.
Answer

Answer: True, the habit was formed out of a favorable experience wherein the person sees this in a positive note and gets comfortable.

QN33: In Marketing Research, the first step is to define the problem and set objectives.
Answer

Answer: True. It is important to identify the problem so that we can get a basis on how to collect and gather data.

QN34: Advertising is indivisible part of promotion campaign.
Answer

Answer: True. In today’s technology, advertising plays a vital role in promoting a product.

QN35: Marketing plan is a document, which formulates a plan for marketing products and services.
Answer

Answer: True. This is were objectives are identified and goals are set.

QN36: Market research is research about the market.
Answer

Answer: False. It is not only centered on the market but other factors as well.

QN37: A product or service – both are tangible.
Answer

Answer: True. Since both types can be physically felt and presented.

QN38: A L/C is a guarantee given by a bank to customer.
Answer

Answer: True – as this is a legal document prepared by a financial institution which provides irrevocable payment undertaking

QN39: Line of credit is a facility given by banks for export of goods.
Answer

Answer: True as this is important in cases where in the organization can export goods even though out of liquidated assets as of the moment.

QN40: The main characteristics of services are Tangibility, inseparability, homogeneity and perishability.
Answer

Answer: True – Intangibility means that cannot be seen, tasted, felt, heard or smelled before they are bought thus the customer cannot evaluate it. Inseparability character of service refers to the fact that services are produced and consumed at the same time and that they cannot be separated from their providers, whether the providers are people or machine. Perishability characteristics of service that cannot be stored for later use or sales. Variability Services are variable and difficult to control. This is because they greatly depend on who provides the service as well as when, where and how they are provided

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