Questions asked in IBPS SO from Introduction of Marketing

• Finance is like the blood of business
• Marketing is successful when a salesman is effectively trained.
• In marketing, it is necessary to identify the potential seller, potential products, and services, potential customer and key existing.
• Marketing strategy means ways to improve marketing activities.
• Marketing is definitely required when supply exceeds demands

Definition of Marketing

American Marketing Association: Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives

Philip Kotler: Marketing is about "Satisfying needs and wants through an exchange process"

The Chartered Institute of Marketing: Marketing is "The Management process responsible for identifying, anticipating and satisfying customer requirement profitability"

Palmer: Marketing is essentially about marshalling the resources of an organization, so that they meet the channel needs of the customer on whom the organization depends"

Modern Method of Marketing includes

• publicity on the net
• advertising on the net
• soliciting business through e-mails
• telemarketing

A true marketing requires

• command and another mindset
• control mindset
• passive mindset
• active mindset

If Marketing is done effectively Publicity is not required.

Marketing involves teamwork.

Modern style of marketing involves

• telemarketing
• web marketing 
• advertisement on the net
• e-mails

Marketing Myopia is based on forecasting the future product offering.

"Supply creates it's own demand" is SAY'S LAW.

Marketing concept emphasizes on customer-oriented products.

Effective marketing helps in

• developing new products
• creating a competitive environment
• building demand for products

Marketing Concept means 

• firms should produce only what their pre-determined consumers would be willing to buy
• firms should persuade customers to buy what they have produced
• the consumers will buy the products which offer them  the highest quality

Successful Marketing Strategies need

• knowledge of customers tastes
• good leadership
• proper direction and guidance
• knowledge of peers

Marketing is required for 

• boosting production
• boosting sales
• boosting sales
• improving sales service

The old concept of marketing comprises of buying and selling activities.

The consumer is the king of the market.

MOS is Margin of Safety.

PLR is Prime Lending Rate.

Sub-Market is known as a market segment.

MRO is Maintenance Repair and Operation. It applies for consumable supplies items

Prospect is Potential Customer

Aim of successful marketing

• to increase sales
• to increase profit 
• to increase output of sellers
• customer satisfaction

Standardization,Grading, Financing and Risk-Taking comes under "Facilitating" Category of Market Function.

Most basic concept(s) underlying marketing- Need, Want & Demand

Need or Wants for a particular product becomes a demand when it is backed by the ability to pay.

Promotion Decision is included in marketing decisions.

Marketing concept is customer oriented concept.

Social Marketing is based on customer satisfaction and customer welfare.

Customer orientation is the pillar of marketing concept(s).

Marketing information means knowledge of customer profile and product mix.

Profit by customer satisfaction is a tool of new concept of marketing.

Nature of marketing involves

• promotion decision
• determination of distribution channel
• after sales service

Marketing is successful when salesman are effectively trained.

Marketing is best defined as "facilitating satisfying exchange relationships".

The marketing concept is a way of thinking or a management philosophy that affects most efforts of the organization.

Aggressive marketing is necessitated due to increase competition.

Seller,Buyer are involved in exchange concept of marketing.

Marketing lays stress on needs of the buyer whereas selling lays stress on the need of the seller.

Marketing research involves

• collecting of facts
• analysis of facts
• gathering of records 
• developing suitable marketing strategies

Function of promotional activities: to motivate the customer to buy the products.

Marketing involves earning of profit through maximization of customer satisfaction.

In marketing the consumer is the king, whereas in selling product is the king.

Understand marketing as

• meeting human and social needs profitably
• to focus on consumer

Marketing is

• consumer oriented
• competitor oriented

Proper marketing require

• planning 
• knowledge of the products

In marketing, it is necessary to identify

• potential seller
• potential products and services
• key existing and potential customers

Marketing is influenced by

• product demand
• public taste
• buyer behavior
• brand image

The sales aim of marketing is to

• increase sales
• increase the number of employees
• increase profits
• increase production

The ultimate aim of marketing is to provide more business to the company.

Selling process includes lead generation.

Marketing strategy means ways to improve marketing activities.

Product design is a function of marketing and research team.

Marketing has taken prominent position during the last decade due to  increase competition.

The tradition marketing  style involves door-to-door campaign.

The task of marketing involves selling products and services of company.

Selling is a sub-function of marketing.

Marketing is the function of a collective function of  all staff.

Cross selling means selling other products to existing customers.

Marketing opportunities means scope for marketing

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