IC88 - Marketing and Public relations - 10

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Q 1. How do ethical standards contribute to decision-making in organizations?

A) Ethical standards lead to short-term decision-making.

Short-term business decisions are always aligned with ethical standards.

Ethical standards compel long-term focus, requiring sometimes painful choices.

Managers should be led astray by criteria like Return on Investment.

Ethical standards do not influence decision-making in organizations.

Q 2. Why is it essential for insurance to cover uncertainties?

To eliminate the possibility of any loss

To generate direct income for the insured

To ensure the complete safety of insured assets

Insurance is only relevant in the presence of uncertainties

To reduce the taxes associated with insurance policies

Q 3. How can international insurance help businesses manage risks related to political turmoil and economic changes in trading partners?

By eliminating the need for international trade

By providing financial guarantees for all international transactions

By insuring against risks like changes in commercial policies, blocked funds, and fluctuating exchange rates

By preventing any changes in political or economic conditions

By facilitating the transfer of goods and funds across international borders

Q 4. What role does marketing play in helping producers make decisions?

Marketing limits the options available to producers

Marketing decides what to produce

Marketing facilitates decisions about what, when, and how to produce

Marketing eliminates the need for production

Marketing focuses on pricing only

Q 5. How has the development of the Internet impacted the relationship between producers and buyers?

It has increased the need for intermediaries

It has reduced the number of available options

It has eliminated the physical space barrier between producers and buyers

It has decreased the need for effective distribution arrangements

It has made retail business more localized

Q 6. Why were the three additional 'P's (People, Process, and Physical factors) added to the original four in the context of marketing services?

To simplify the marketing process

To reduce the cost of marketing services

Because services have different characteristics from goods

To create confusion among marketers

To emphasize the importance of product features

Q 7. What does the term "Hog Tales" in the example refer to in the context of marketing strategy?

A new product developed by Harley-Davidson

A marketing campaign designed to attract new customers

A customer loyalty program for Harley Davidson owners

An advertising campaign promoting Harley-Davidson products

A market development strategy for Harley-Davidson

Q 8. In the context of long-standing relationships, what principle is crucial for building trust and confidence?

Exploiting each other's weaknesses

Mitigating the other's compulsions

Trusting each other's interests

Creating difficulties for each other

Fostering competition

Q 9. Question 1: Why is it important to understand customer behavior in marketing?

To create more advertising campaigns

To design products based on customer wants and needs

To reduce production costs

To establish a company's brand image

To increase the number of retail outlets

Q 10. Question 1: What is a significant factor influencing the purchase of a TV set, as mentioned in the passage?

Technical specifications and operating manuals.

The price of the TV set.

External appearances and the brand name.

The promise of after-sales service.

The number of questions asked about competing brands.

Q 11. Question 4: How are conflicts at interpersonal or inter-group levels created and resolved, ?

By economic calculations.

Through observable behavior.

Through the resolution of conscious awareness.

Because of, and through, perceptual influences.

By the rational and reasonable analysis

Q 12. Question 1: In the case of life insurance, who may be the claimant?

Insurer

Policyholder

Nominee

Representative of the insurer

Widow or children

Q 13. Question 5: How are models of doing business changing, as per the passage?

From platforms to pipes

From traditional to modern

From tangibles to intangibles

From wants to needs

From the search for alternatives to thorough search

Q 14. What factor is considered an intangible aspect when buying a smartphone, according to the text?

a) The brand of the smartphone

The price of the smartphone

The nature of services (variety and speeit can offer

The size and weight of the smartphone

The availability of accessories for the smartphone

Q 15. Why does the text emphasize that even with efforts to remove the human element, there will always be a unique person in the service chain?

a) Standardized service cannot be delivered by unique individuals.

Electronic instruments cannot fully replace human beings.

The prescribed routines are ineffective.

Human beings are indispensable in service management.

Incompetent employees take extra time during check-ins.


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