IC88 - Marketing and Public relations - 8

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Q 1. What is the potential impact of a cargo ship sinking on businesses beyond the owners of the cargo and the ship?

No impact on other businesses

Positive impact on other businesses

Potential bankruptcy of other businesses

Increased demand for insurance

Reduced shipping costs for other businesses
 
Q 2. How does marketing view the decision processes of both the producer and the customer?

As independent and unrelated

As separate processes with no need for alignment

As processes that should compete against each other

As unrelated processes that can lead to waste

As complementary processes to enable fair and beneficial exchange
 
Q 3. What is a key element of the sales orientation approach?

Maximizing profits through economies

Relying on product quality

Heavy promotional campaigns

Reducing operating costs

Belief in sales occurring automatically
 
Q 4. What are the four elements of the Marketing Mix, often referred to as the four 'P's?

People, Process, Physical factors, and Price

Solutions, Information, Value, and Access

Product, Price, Place, and Promotion

Quality, Range, Design, and Warranties

Training, Repairs, Maintenance, and Replacements
 
Q 5. In marketing, what is the key benefit of identifying and targeting niche markets?

Access to large volumes of customers

Intense competition with market leaders

Being part of popular market segments

Understanding the special needs and nature of business

A preference for vague and general offers
 
Q 6. What is one of the objectives of marketing activities?

To focus on finding new customers only

To increase customer attrition rates

To build strong long-term relationships with existing customers

To offer products at the lowest possible prices

To reduce customer references
 
Q 7. What is the purpose of segmentation in marketing?

To create new products

To increase operational costs

To target a specific segment of customers

To eliminate competition

To reduce waste in marketing efforts
 
Q 8. Question 4: What challenges may consumers face when comparing data and making a final decision?

All products score equally in all aspects.

All data are measurable and factually correct.

The reliability, frequency, and nature of complaints are well-documented.

Each product may score high on some aspects, but not all.

The relative weightings of aspects are consistent for all products.
 
Q 9. Question 2: What is mentioned as a factor influencing the understanding of situations and decision-making?

Observable behavior.

Belief system and critical assumptions.

Economic calculations.

Objective reality.

Conscious awareness.
 
Q 10. Question 5: Why might claimants not understand the insurance principle of indemnity?

Lack of information

Untrustworthy insurers

Complexity of insurance contracts

Ignorance about insurance

Insurer's promises are unclear
 
Q 11. Question 3: what is one of the tasks of an effective salesman?

Generating dissonance

Ignoring perceptions

Tackling the perceptions of the prospects

Avoiding positive strokes

Discouraging negative strokes
 
Q 12. What distinguishes a "pure intangible" service from a service that adds value to tangible products?

a) Cost

Tangibility

Nature of services offered

Speed of service

Availability of tangible products
 
Q 13. What is one of the major issues faced by the management of services, according to the text?

a) The lack of prescribed routines for consistent quality.

The elimination of electronic instrumentation in service processes.

The overemphasis on the human element in service.

Achieving consistent quality through standardized procedures.

The difficulty in avoiding human beings in the service chain.
 
Q 14. Which services are included in Fintech services?

a) Only insurance.

Only payments.

Only advisories.

Payments and advisories for retail banking customers.

Banking services for corporate customers.
 
Q 15. According to the text, what is the impact of reducing promises in writing or legal documents on reliability?

a) Reducing promises in writing improves reliability.

Documentation is unnecessary for reliability.

Reliability is hindered by reducing promises to writing.

Candor is unrelated to reliability.

The insurance agent's behavior affects reliability more than documentation.


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