IC88 - Marketing and Public relations -1
IC88 - Marketing and Public relations -1
Q 1. What is the primary purpose of insurance in the context of assets?
To create wealth
To reduce tax liabilities
To protect the economic values of assets
To increase asset depreciation
To generate direct income
Q 2. What is the function of the premium in insurance?
To protect the insured from perils
To ensure that the insurance company benefits the most
To create a fund for the insurance company
To compensate for the losses suffered by the insured
To collect funds for government support
Q 3. How does segmentation help in serving different customers better?
By offering the same products to all segments
By treating all customers uniformly
By adjusting the organization's internal structure
By ignoring customer distinctions
By identifying appropriate ways to serve different customers
Q 4. What are some benefits of having a strong brand?
Higher marketing costs and decreased customer loyalty
Reduced business stability and steady cash flows
Enhanced communication of product quality
Protection against competitive inroads and price wars
Frequent price reductions to match competitors
Q 5. Question 3: Why do consumers often engage in limited and incomplete searches for alternatives when making buying decisions?
They are not interested in finding the best deals.
They prefer to make impulsive decisions.
They trust advertisements more than thorough research.
They usually have enough information at a certain point.
They lack access to the internet and online shopping.
Q 6. Question 5: In non-life insurance policies involving mortgages, international trade, guarantees, etc., who can be the claimant?
Policyholder
Nominee or heirs
Assignee
Insurer
Beneficiary
Q 7. What factor is highlighted as crucial for the quality of service in the context of hotels?
a) Design and interior fittings
Pure crystal water jug
Construction and furnishing
The experience of the person receiving the service
Availability of hot water
Q 8. Which industry had a legal barrier to starting a company but not to becoming a consultant until 2000 in India?
a) Manufacturing.
Hospitality.
Transport.
Insurance.
Mutual Funds.
Q 9. Select the correct option from the following with respect to “Rational Buying Process”.
a) Buying decision is instant once the need and product for the same is matched and generally no alternates are evaluated
b) Before buying customer has to be aware of a need to be satisfied
c) Customer must want to satisfy that need
d) All of the above
e) Options (b) and (c)
Q 10. Identify the statement which best describes the term “Place utility of a product”.
a) Getting the best use of a product by changing it from location to location
b) Servicing can make the faulty product functional at the location of the product
c) A marketing technique whereby the product usage is displayed at the place of sale
d) Service warranty of a product which facilitates service of the product at any location during the warranty period
e)
Increasing the attractiveness of a product to a group of consumers by altering its physical location
Q 11. What makes recovery impossible in the context of complaints?
a) Apology
Impatience
Delays
Follow-up
Symbolic atonement
Q 12. What does the Boston Matrix take into account for product analysis?
a) Product pricing
Market competition
Product life cycle stage
Customer satisfaction
Advertising budget
Q 13. What is the general perception of insurance agents, and what efforts have been made to improve their image?
A. Highly knowledgeable and professional
B. Negative image, requiring additional certification
C. Rapid increase in numbers
D. Lack of training centers
E. Exclusion from the financial services business
Q 14. what influences a customer's experience in the service industry?
A) Online reviews
Ambience
Advertising
Social media presence
Promotional activities
Q 15. What is the primary focus of the Pradhan Mantri Sinchayee Yojana?
A) Providing irrigation facilities
Ensuring soil health
Supplying uninterrupted electricity
Reducing pollution
Promoting start-ups in agro-industry
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