IC88 Mock Test Sample 20
Marketing concepts are based on the assumption that both producers and customers have choices. Ethical standards, organizational values, and effective reward systems play a major role in building trust and responsible business behavior. Insurance protects against financial loss arising from uncertain events and supports international trade and industry. Marketing strategies such as defensive marketing help retain customer loyalty, while sales promotion encourages buying through demonstrations and contests. Rural markets are influenced by tradition, caste, and social structures, making promotion challenging. Market research, segmentation, production orientation, and direct marketing techniques help businesses understand customers and improve products, services, and long-term organizational growth.
Q1. What is a fundamental assumption underlying marketing concepts?
a. Producers have no choices
b. Customers have no choices
c. Producers and customers have no choices
d. Producers and customers have choices
Q2. What influences the acceptability of insurance and insurance agents in traditional rural markets?
a. TV coverage
b. Newspaper readership
c. Caste, hierarchy, and tradition
d. Internet penetration
Q3. What is a crucial aspect of a rewards system regarding ethical behavior?
a. Public relations value
b. Detection of unethical behavior
c. Communication of messages regarding values
d. Avoidance of behaviors
Q4. How does the passage characterize ethical standards in organizations?
a. Malfeasance is unrelated to organizational values
b. Ethical organizations discourage ethics
c. Organizational moral standards are determined by values
d. Focus only on short-term profits
Q5. In insurance, what is insured when there is uncertainty about an event?
a. The event itself
b. The occurrence of peril
c. The loss caused by occurrence
d. The value of asset
Q6. How does insurance relate to international trade and industry?
a. It is only domestic
b. No international links
c. Closely linked with international services
d. No connection to trade
Q7. Which approach believes sales require more than discounts and promotions?
a. Product orientation
b. Cost orientation
c. Sales orientation
d. Marketing orientation
Q8. What is the primary objective of defensive marketing strategy?
a. Encourage competitors
b. Expand market share continuously
c. Focus on offensive tactics
d. Protect existing market territory and loyalty
Q9. _____________ is considered facilitator of poverty reduction.
a. Reduction in population growth
b. Industrial growth
c. Manufacturing growth
d. Growth in farm sector
Q10. What does MGNREGA stand for?
a. Mahatma Gandhi National Rural Employment Guarantee Scheme
b. Mahatma Gandhi National Rural Employment Government Scheme
c. Mahatma Gandhi Northern Rural Employment Government Scheme
d. Mahatma Gandhi Northern Rural Emergency Government Scheme
Q11. Intangible products offered by service providers are called _____.
a. Customer services
b. Service offerings
c. BPOs
d. Both A & B
Q12. Which approach emphasizes large capacities, turnover, and low unit costs?
a. Sales orientation
b. Production orientation
c. Cost orientation
d. Product orientation
Q13. With reference to product differentiation, products are divided into ____ categories.
a. 2
b. 3
c. 4
d. 5
Q14. Sales promotion attempts to induce buying through the offer of:
a. Sampling and demonstrations
b. Contests and prizes
c. Discounts and incentives
d. All of the above
Q15. _____ raises more doubts than most other services.
a. Marketing
b. Production
c. Purchasing
d. Insurance
Q16. Organizations have the capability to:
a. Break caste barriers
b. Develop hygiene practices
c. Develop cooperative attitudes
d. All of these
Q17. Which statement is NOT true regarding rural areas?
a. Strong influence of caste and tradition exists
b. Rural people are fatalistic
c. Rural people are wise despite illiteracy
d. Promotion in rural areas is easier than urban areas
Q18. Which among the following statement is incorrect?
a. Strategic plans use SWOT analysis
b. Strategies are similar everywhere
c. Strategies can be managed in preconceived ways
d. Strategic plans provide direction
Q19. Which media are used in direct marketing by insurers abroad?
a. Direct mail
b. Telemarketing
c. Internet marketing
d. All of the above
Q20. What cannot be used as an instrument for market research?
a. Telephone survey
b. Structured questionnaire
c. Personal interview
d. Camera recording
