IC88 - Marketing and Public relations - 5

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Q 1. What caution is advised when using the Boston Matrix?

a) Market share is the only factor for growth

Total performance is irrelevant

Other products' influence is negligible

Growth rate is the sole factor for industry attractiveness

Consideration of other relevant factors is required
 
Q 2. what two main areas does an insurer need to improve to quote a lower premium than its competitors?

a) Marketing strategies and customer engagement

Claims ratio and expenses of administration

Negotiation skills and pricing strategies

Financial strength and market share

Underwriting standards and customer satisfaction
 
Q 3. What is expected of a good insurance agent in terms of financial planning?

A. Limited knowledge of available options

B. Single-window approach for the buyer

C. Exclusivity with insurance products

D. Avoidance of association with other professionals

E. No need for a holistic approach
 
Q 4. Who are the most powerful sources of word-of-mouth publicity?

A. Independent commentators

B. Producer's representatives

C. Professional colleagues

D. Immediate family

E. Retailer's representatives
 
Q 5. What does the passage state about the critical and unavoidable factor in providing satisfaction to customers in the service industry?

A) Online presence

Physical facilities

Ambience

Advertising strategies

Pricing models
 
Q 6. What is the key factor affecting rural incomes in the context of agriculture?

A) Availability of better seeds.

Increase in farmland size.

Mechanical farming equipment.

Vagaries of monsoon.

Multiple cropping.
 
Q 7. What is the primary purpose of the haats or weekly markets in villages?

A) Permanent sale of essential commodities

Assembling and distribution of goods

Annual festivals and melas

Sale of agricultural produce

Public distribution system
 
Q 8. What does Uplift Mutual offer as part of its health risk management scheme among the slums in Mumbai, Pune, and Rajasthan?

A) Only OPD attention

Only reimbursement of the cost of hospital treatment

Comprehensive health risk management services

Only health talks and health campaigns

Only a 24 X 7 helpline
 
Q 9. What questions are mentioned as crucial in evolving ethical standards within organizations?

A) Questions about short-term versus long-term benefits

Questions about coercion and fault-finding

Questions about the impact on individual customers

Questions about the organization's financial interests

Questions about public interest, trust, and control mechanisms
 
Q 10. How does spirituality contribute to ethical behavior

A) By promoting exploitation and discrimination

By avoiding mistakes in production and processing

Cutting costs at the expense of safety considerations

By manifesting justice and fairness through love and concern

By profiteering and apologizing for substandard products
 
Q 11. What is the term for the damage that a peril may cause to assets?

Asset depreciation

Asset valuation

Asset risk

Asset liability

Asset peril
 
Q 12. In the absence of life insurance, what could be the potential consequence for families of individuals who die early?

Families would become wealthier due to lower living standards.

Families would have no impact on the government or society.

Families might become a burden on the government or society.

Families would receive full compensation from the insurance industry.

Families would be financially independent.
 
Q 13. What does marketing involve concerning customers?

Controlling customer needs and wants

Dictating prices for products and services

Finding out what customers want and need

Manufacturing products without customer input

Ignoring customer feedback
 
Q 14. What is the key flaw in the cost orientation approach?

Reducing production and operating costs

Focusing on efficiency and technology

Overemphasizing revenue generation

Prioritizing reduced costs over quality

Recognizing the value of inexpensive products
 
Q 15. In the context of insurance, what is an example of market segmentation based on product?

Segmenting based on army personnel

Segmenting based on working ladies

Segmenting based on geography

Segmenting based on income levels

Segmenting based on language preferences



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