As you all know that marketing section was included in SBI PO syllabus from 2010 onwards. So here we are presenting to you the last three years marketing questions which was asked in SBI PO exam. Also we are providing you some expected marketing questions which can be asked in upcoming SBI PO 2014 exam.
Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service. Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization.
Marketing is the science of choosing target markets
through market analysis and market segmentation, as well as understanding
consumer behavior and providing superior customer value.
From a societal point of view, marketing is the link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships.
Marketing may be defined in several ways, depending on the role of the advertised enterprise in relation to the strategic role in positioning the firm within its competitive market. The main definition is often credited to Philip Kotler, recognized as the originator of the most recent developments in the field, for the works that appeared from 1967 to 2009.
7 Ps of Marketing:
5. Physical Evidence
4 Cs of Marketing:
1. Customer needs & wants
2. Cost to the customer
5 Ms of Marketing:
1. Market May Comprise of:
i. One seller and many buyers
ii. Many sellers and one buyer
iii. Many sellers and many buyers
iv. Few sellers and many buyers
v. Many sellers and few buyers
2. A “likely” interested customer of the bank is termed as Prospect.
3. In Marketing, calling on the prospective customers is known as a call.
4. Division of the whole market into relatively homogeneous groups is called Market Segmentation.
5. Marketing Guru Philip Kotler defines market segmentation as the subdivision of a market into homogeneous subjects of customers.
6. Marketing Mix: It is the set of marketing tools that a firm uses to pursue its marketing objectives in the target market.
7. E. Jerome McCarty proposed a classification of marketing mix in four key areas:
1. Product 2. Price
3. Place 4. Promotion
8. SWOT Analysis: A tool used by organization to
help the firm to establish its strength.
S – Strengths W – Weakness
O – Opportunity T - Threats
Note: Strengths and Weakness are – Internal Function
Opportunity and Threats are - External Function
9. 4 Stages of Product Life Cycle (PLC):
i. Introduction ii. Growth
iii. Maturity iv. Decline
10. Brand: Brand is defined as “a name, term, sign and symbol or a combination of these, that identifies the maker or seller of the product
11. Brand Equity: It refers to the value of the Brand.
12. JIT – Just in Time
13. MRTP – Monopolies and Restrictive Trade Practices
14. IMC – Integrated Marketing Communications
15. In Double win strategy customer gets price debate.
16. Monopoly (only one seller) exists when a specific person or enterprise is the only supplier of a particular commodity, which relates to a single entity's control of a market to purchase a good or service.
17. Oligopoly (few sellers) which consists of a few entities dominating an industry.
18. MRP – Manufacturing Resource Planning
19. HNI – High Net worth Individual
20. The Concept of Gorilla Marketing is introduced by J.C. Levinson.
21. The Method of sending promotional items to clients is called Drip Marketing.
22. Marketing via e-mail falls under the category of direct marketing.
23. CTR (Click through Rate) is related to Advertising metrics.
24. Creating a buzz in the industry is an example of Viral Marketing.
25. A non – traditional, low cost, flexible and highly effective marketing is termed as Gorilla Marketing.