531. Often we see new gadgets being given to potential consumers for limited use at shopping malls or fairs. This is done to enhance:
Trialablity
Complexity
Compatibility
None of these
Correct answer: (A) Trialablity
532. Rahul has decided to buy a car. He has selected a few car models and is currently comparing the features of different models. The stage of buyer decision process Rahul is currently engaged in is:
Need discovery
Evaluation of alternatives
Purchase Decision
Post Purchase behavior
Correct answer: (B) Evaluation of alternatives
533. Post the implementation of GST, several companies have started providing return filing services. This is an example of ______________ creating an opportunity.
Economic forces
Regulatory changes
Social forces
Technological advances
Correct answer: (B) Regulatory changes
534. The customer category which has the highest opinion leadership and exhibits discrete and judicious adoption choices is:
Innovators
Early Adopters
Early Majority
Laggards
Correct answer: (B) Early Adopters
535. Identify the incorrect statement:
New product ideas must be screened to determine which of the ideas match with the firm’s skill and competency
An organization has to decide on the marketability and developability of a new product
Concept testing is a representation of benefits of a new product expressed in words or pictures
Cash flow should not be given much importance for developing a new product as all firms have sufficient cash
Correct answer: (D) Cash flow should not be given much importance for developing a new product as all firms have sufficient cash
536. In the customer based brand equity pyramid, judgements include ______________ while resonance leads to ______________.
Quality, Loyalty
Loyalty, Quality
Quality, Quality
Loyalty, Loyalty
Correct answer: (A) Quality, Loyalty
537. ______________ is a unique set of brand associations that the brand strategists aspires to create or maintain. These associations represent what the brand stands for and imply a promise to customers.
Brand equity
Brand identity
Brand value
Brand strategy
Correct answer: (B) Brand identity
538. Xioami, a well-known Chinese brand started its business with Mi branded mobile phone. Later they started producing Television sets with the same brand name. this is an example of:
Co-branding
Brand extension
Ingredient branding
Flanker brand
Correct answer: (B) Brand extension
539. Which of the following statements is true about variable costs?
The corporate jet expenditure is an example of a variable cost.
These costs must be recovered by the price.
The marketing manager's salary is an example of a variable cost.
These costs are independent of sales volume
Correct answer: (B) These costs must be recovered by the price.
540. If product quality of a firm is low and the price charged is high, the firm is said to follow a: