551. Recognition is related to ______________ of brand awareness while consumption is related to ______________ of brand awareness.
Depth, Breadth
Breadth, Depth
Correct answer: (A) Depth, Breadth
552. A certain bank has a credit card which is known by the name of a famous airline. This is an example of:
Co-branding
Ingredient branding
Sub-brand
Line extension
Correct answer: (A) Co-branding
553. If a small change in price of a product results in a large change in the demand then:
The demand of the product is elastic
The demand of the product is inelastic
E should be equal to 1
None of these
Correct answer: (A) The demand of the product is elastic
554. The channel partner for an air conditioner manufacturing firm informs the firm regularly about new features customers are looking for in air conditioners. Here, the channel partner is performing the additional function of ______________.
Negotiation
Product assembly
Matching
Marketing Research
Correct answer: (D) Marketing Research
555. ______________involves the activities in selling goods or services to those who buy for resale or business purposes while ______________ involves activities in selling goods or services for personal and non-business use.
Retailing, wholesaling
Distribution, wholesaling
Retailing, Distribution
Wholesaling, retailing
Correct answer: (D) Wholesaling, retailing
556. ______________ is defined as the planning, developing and presenting product lines for identified target market with regards to pricing, assortment, styling and timing while meeting the company’s financial goals.
Category management
Category management
Retail layout management
Merchandising management
Correct answer: (D) Merchandising management
557. Identify the service which has the highest credence quality:
Tailoring
Restaurant Meals
Haircut
Medical diagnosis
Correct answer: (D) Medical diagnosis
558. Which of the following is the best way to reduce interpretation gap?
Pretest communications to make sure message is clear
Educate customers to see reality of service quality delivered
Ensure service performance meets standards
Ensure communication promises are realistic
Correct answer: (A) Pretest communications to make sure message is clear
559. Marketers can apply branding on:
A product
A place
A service
All of these
Correct answer: (D) All of these
560. A ______________ good is purchased without much planning or effort while a ______________ product is purchased on a regular basis by consumers.