Marketing Aptitude
Summary Notes 5
1. Factors affecting Buyer behaviorConsumer behavior is
affected by many internal, personal factors, as well as interpersonal
ones. Each individual brings unique needs, motives, perceptions,
attitudes learning and self-concepts to buying decisions. 2. What is
Market Segmentation? The market place is heterogeneous with differing
wants and varying purchase power. The heterogeneous marketplace can be
divided
Marketing Aptitude - Summary Notes 3
Two exams are coming very shortly: one is Union bank of
India Marketing Officers exam (September 6) and another SBI management
Executive Exam (September 13). Its not possible to frame enough quizzes
which can help my readers. so I am here by writing some compendiums each
with 10 points with absolutely objective info. They might
Understanding Product Positioning
The “Concept of Positioning “is very important in the
Marketing Management. Positioning refers to the concept of placing a
product in a certain position in the minds of the prospective buyers.
The concept was introduced by Positioning Gurus named Al Ries and Jack
Trout in their article in "Advertising Age". Their work “Positioning:
The Battle
Concept of Product
Generally market offering of any kind is called a
product. In management, a product is anything that is offered in the
market to satisfy a need or want. The products may be raw materials in
industries, merchandise in retailing or services in service industry.
The raw materials are called commodities often. Commodity is also
something
Marketing Aptitude Summary Notes 2
Q.1 What are the marketing Functions? There are 8
universal functions of MarketingThe ultimate aim of marketing is
exchange of goods and services from producers to consumers in a way that
maximizes the satisfaction of customer’s needs. ....., categorized into
3 broad categories: Buying, Selling, Transporting, Storing,
Standardizing and grading, Financing, Risk taking Securing marketing
The Extended Marketing Mix for Service Industry: Additional 3 P’s
The marketing mix of product marketing consists of 4Ps,
the services marketing takes in 3 more P’s making the extending market
mix for service industry: 7P’sThe additional 3Ps are People, Process and
Physical Evidence. Why additional P’s?These additional 3P are required
because of the special characteristics of the Service Industry. The
product of a service
