Marketing Aptitude Study Material – Modern Marketing System
Contents
Marketing Aptitude Study MaterialComputer AwarenessBanking Awareness
This technique understands the needs and desires of the customer and product is designed accordingly. Its main motive is customer satisfaction that is building a relationship with customer and is achieved through an integrated, corporate wide set of marketing activities.
Modern marketing can be explained as ‘getting the right goods, at the right time, at the right place, with the right communication, to the right people, at the right price.’
Fields of Modern Marketing System
Following fields are involved in modern marketing system
- Traditional Fields: Public welfare services like electricity and water supply, transport, education, hotel, entertainment, banking, hospital, accounting, etc.
- Modern Fields: Travel agency, real estate, advertisement, public relations, market research, courier services, credit card services, etc.
- Newly Developing Fields: Computer training, vocational service, Internet, recruitment services, video conferencing, E-commerce, etc. It is clear that newly developing service fields are not person centered now-a-days but involved with modern technology and is going to become sophisticated and complex.
Functions of Modern Marketing System
- To understand the nature of service
- To understand the customer and his expectations
- Sizing services
- Promotion
- To decide prices
- Organize delivery system
- To observe carefully customer satisfaction
- Pay attention to the variation of achievement
Ways of Modern Marketing Field
- Export
- Technology and information licensing
- Multinational business
- Joint venture
- Fully global operations
Various Modes of Modern Marketing System
Various modes of modem marketing system are
- Mobile Banking: It is a system that allows customers of a financial institution to conduct a number of financial transactions through a mobile device such as a mobile phone or personal digital assistant.
- Cyber Marketing: It simply refers to a technique of attracting potential customers by advertising your products or services through websites, E-mails and banners. A number of activities are involved in cyber marketing such as online marketing, fax direct marketing, canvassing, etc.
- CRM (Customer Relationship Management): It entails all aspects of interaction that a company has with its customer, whether it is sales or service-related. CRM systems are used in the same way to manage business contacts, clients, contract wins and sales leads.
- Green Marketing: It refers to the promotional activities aimed at taking advantage of the changing consumers attitude toward a brand. These changes are increasingly being influenced by a firm’s policies and practices that affect the quality of the environment and reflect the level of its concern for the community.
- E-Commerce: E-commerce or electronic commerce, a subset of E-business, is the purchasing, selling and exchanging of goods and services over computer networks (such as the internet) through which transactions or terms of sale are performed electronically.
Types of E-commerce
The types of E-commerce are
- B2B (Business-to-Business): Companies doing business with each other such as manufacturers selling to distributors and wholesalers selling to retailers.
- B2C (Business-to-Consumer): Businesses selling to the general public typically through catalogues utilising shopping cart software.
- C2B (Consumer-to-Business): A consumer posts his project with a set budget online and within hours companies review the consumers requirements and bid on the project. The consumer reviews the bids and selects the company that will complete the project.
- C2C (Consumer-to-Consumer): There are many sites offering free classifieds, auctions and forums where individuals can buy and sell things to online payment systems where people can send and receive money with ease.
Display Advertising
It is graphical advertising on the World Wide Web that appears next to content on web pages, IM applications, E-mail, etc.
Global Marketing
It is the process of conceptualizing and then conveying a final product or service world wide with the hopes of reaching the international marketing community. Global marketing is especially important to companies that provide products or services and have a universal demand such as automobiles and food.
Functions of global marketing are
- Select the default route for global marketing
- Market selection and product selection
- Select delivery vessels
- Develop pricing tactic
- International marketing communications
- Have expertise in procedural complications
Service Marketing
It is the promotion of economic activities offered by a business to its clients. Service marketing might include the process of selling telecommunications, health treatment, financial, hospitality, car rental, air travel and professional services.
Characteristics of Service Marketing
It can be paraphrased in terms of their generic key characteristics
- Intangibility: Services are intangible and insubstantial; they cannot be touched, gripped, handled, looked at, smelled, tasted or heard.
- Inseparability: The service provider is indispensable for service delivery as he must promptly generate and render the service to the requesting service consumer
- Simultaneity: Services are rendered and consumed during the same period of time.
- Variability: Each service is unique. It is one-time generated,rendered and consumed and can never be exactly repeated as the point in time, location, circumstances, etc are different for the next delivery, even if the same service consumer requests the same service.
Bank Marketing
Bank marketing is to develop a distinctive brand image which is considered the main reputation of the financial institution. It is defined as an aggregate of function providing service to satisfy customer’s financial needs and wants.
Tit-Bits
- KYC means Know Your Customers.
- Good customer service is an extended arm of service marketing.
- Transaction marketing involves selling of mere services.
- Marketing of services is adopted in hotels.
- Digital marketing is the same as online marketing.
- Motivating customers to buy upgraded
- products when they had intended to buy something of lower value, is known as cross-selling.
- USP means Unique Selling Proposition.
- SME means Sales and Mergers of Entities.
Check Your Skills
1. Service marketing is the same as [SBI Clerk 2012]
- relationship marketing
- transaction marketing
- passive marketing
- internal marketing
- instant marketing
2. The target market for debit cards is [SBI PO 2013]
- all existing account-holders
- all agriculturists
- all DSAs
- all vendors
- all outsourced agents
3. The modem marketing concept assets that ‘marketing’ starts with the product idea and ends with [SBI Clerk 2012]
- production of quality product
- advertisement campaign
- customer satisfaction
- sale of the product
- exchange of money
4. A call in marketing means
- to phone the customers
- to visit the customers
- to visit the marketing site
- to call on prospective customer
- None of the above
5. Service marketing implies selling of [SBI Clerk 2012]
- only goods
- only services
- web servers
- various commodities
- goods and services
6. KYC means [SBI Clerk 2012]
- Keep Your Customers Cool
- Keep Your Credit Card
- Know Your Customers
- Keep Your Cool
- Know Your Credits
7. Customer retention can be ensured by [SBI Clerk 2012]
- offering freebies
- offering loans at low rates
- catchy slogans
- giving incentives
- personalised services
8. Profit by customer satisfaction is a tool of
- old concept of marketing
- new concept of marketing
- production
- Price
- None of the above
9. Motivating customers to buy upgraded products when they had intended to buy something of lower value is known as [SBI Clerk 2012]
- cross selling
- forward selling
- marketing
- channel marketing
- upselling
10. EMI is a marketing tool if [SBI Clerk 2012]
- it is very high
- it is very low
- it is increasing
- it is fluctuating
- it has no role as a marketing tool
11. Motivation in marketing means [SBI Clerk 2012]
- inspiring sales persons to talk more
- inspiring sales persons to sell more
- inspiring counter staff to talk’more
- market size
- market place
12. Good customer service is an extended arm of [SBI Clerk 2012]
- service marketing
- web marketing
- process marketing
- indirect marketing
- internal marketing
13. Modem methods of marketing include
- publicity on the net
- advertisement on the net
- soliciting business through E-mails
- telemarketing
- All of the above
14. Transaction marketing involves selling of [SBI Clerk 2012]
- mere goods
- mere services
- ideas and thoughts
- repair work
- after-sales service
15. SME means [SBI Clerk 2012]
- Selling and Marketing Employees
- Sales and Margers of Entities
- Small and Micro Entities
- Small and Medium Enterprises
- Sales performance Measurement Program
16. The process of discovering patterns and relationships using the available customer data to reveal what customers want and how they act is known as [SBI Clerk 2012]
- data warehousing
- data base
- data mining
- data building
- data matching
17. Financial inclusion means [SBI Clerk 2012]
- financial statements
- financial data
- wholesale banking
- retail banking
- bringing all poor people under banking net
18. Find the correct sentence. [SBI Clerk 2012]
- KYC norms are not applicable for financial inclusion
- Loans can be granted to students at two rate of interest
- Home loans are not useful for public
- NRI customers are not profitable customers
- Online marketing is very costly
19. Margin contribution in the case of a loan account, means [SBI Clerk 2012]
- money paid by bank to borrower
- same as EMI
- borrowers own contribution for the venture
- stamp duty
- registration charges
20. Global marketing is a result of
- domestic charge
- globalisation
- privatisation
- All of these
- None of these
21. Mutual fund business from existing bank customers can be mobilised by [SBI Clerk 2012, 11]
- online marketing
- cross-selling
- telemarketing
- carpet bombing
- road-shows
22. Digital marketing is the same as [SBI Clerk 2012]
- online marketing
- cross-selling
- website designing
- road-shows
- door-to-door marketing
23. Telemarketing means [SBI Clerk 2011]
- selling telephones
- sending SMS messages
- chatting on the phone
- marketing through phone calls
- marketing in person
24. Savings accounts can be opened by [SBI Clerk 2012]
- all individuals fulfilling KYC norms
- all tax payers only
- all individuals above the age of 18
- all businessmen only
- all students below the age of 18
25. In a savings account, money can be deposited on [SBI Clerk 2012]
- monthly basis
- as per the convenience of the depositor
- annual basis
- in one lumpsum
- quarterly basis
26. Standard marketing practices include [SBI Clerk 2012]
- poaching
- unhealthy competition
- lowering the selling price
- unhealthy discount schemes
- phishing
27. Aggressive marketing is necessitated due to [SBI Clerk 2012]
- globalisation
- increased competition
- increased production
- increased job opportunities
- increased staff
28. Customisation results in [SBI Clerk 2012]
- customer exit
- customer retention
- customer complaints
- better balance sheet figures
- better technology
29. Online marketing is mosdy useful for marketing of [SBI Clerk 2011]
- savings accounts
- credit cards
- home loans
- NRI deposits
- business accounts
30. ‘USP’ in marketing means [SBl Clerk 2012]
- Unique Selling Practices
- Uniform Selling Practices
- United Sales Persons
- Unique Selling Proposition
- Useful Sales Person
31. Mutual funds investments can be effectively canvassed among [SBl Clerk 2011]
- only salaried persons
- students availing education loans
- HNI customers
- sunrise industries
- poor farmers
32. Leads for canvassing home loan accounts can be obtained from [SBl Clerk 2012]
- builders
- individuals building one’s own house
- audit departments
- brick manufacturers
- cement suppliers
33. Internet banking can be popularised by way of [SBl Clerk 2012]
- reduced prices
- higher prices
- wide area network
- better technology
- more ATMs
34. The target group for an ATM-cum-Debit Card is [SBl Clerk 2012]
- all primary school children
- all prisoners
- firms
- all existing and prospective customers
- other bank’s customers
35. Bank marketing means [SBl Clerk 2008]
- selling of banks
- buying of banks
- merger of banks
- selling bank’s products and services
- selling various items in banks
36. The type of marketing involved in banks is [SBl Clerk 2012]
- transaction marketing
- service marketing
- commodity marketing
- ruthless marketing
- indifferent marketing
37. The USP of a current account is [SBl Clerk 2012]
- no restrictions of transactions
- low TDS
- high minimum balance
- high interest payable
- no need for KYC norms fulfillment
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