Marketing - Study Mode
[#116] Match the following. List-I (Stage of New Product Development) List-II (Features) a. Generating New Product Ideas 1. From Customers b. Idea Screening 2. Problem c. Concept Testing 3. Subject d. Test Marketing 4. Market Segmentation
Correct Answer
(C) a-1, b-2, c-3, d-4
[#117] Assertion (A): Marketing occupies an important position in the organisation. Reason (R): Marketing is the function of business concerned with creation of a consumer.
Correct Answer
(A) Assertion (A) and Reason (R) both are true
[#118] Which one of the following represents 'Penetrated market'?
Correct Answer
(B) The set of consumers who are buying the company's product
[#119] Need becomes ________ when they are directed towards a specific object.
Correct Answer
(B) Want
Explanation
Solution: Need becomes want when they are directed towards a specific object. Human wants are desires for specific satisfaction of deeper needs that means the needs become wants when they are directed to specific object that might satisfy the need.
[#120] Products that are relatively inexpensive and are purchased frequently with minimal effort can be classified as ___________ products.
Correct Answer
(B) Convenience
Explanation
Solution: Products that are relatively inexpensive and are purchased frequently with minimal effort can be classified as Convenience products. Convenience products refer to those types of consumer products and services that consumers buy more frequently with minimum buying efforts and comparisons.