Advertising
Question : What is the best possible explanation for a shift in the market supply curve for a product?
Option 1: Price increases in raw materials
Option 2: Introduction of a government tax on that product.
Option 3: Introduction of a new technique that makes the production of that commodity less expensive.
Option 4: A successful advertising campaign that promotes the product.
Correct Answer: Introduction of a new technique that makes the production of that commodity less expensive.
Solution : A new technique that makes it cheaper to produce the goods best explains a shift to the right in the market supply curve. A shift to the right in the supply curve, such as from new manufacturing technology, results in a lower equilibrium price and a higher quantity. Hence option c is the correct answer.
Question : Which of the following is an example of price adjustment as a marketing mix strategy?
Option 1: Developing a new advertising campaign
Option 2: Introducing a loyalty program
Option 3: Changing the product design
Option 4: Implementing seasonal discounts
Correct Answer: Implementing seasonal discounts
Solution : The correct answer is (d) Implementing seasonal discounts.
Implementing seasonal discounts is an example of price adjustment as a marketing mix strategy. Price adjustment involves changing the pricing strategy for a product or service to align with market conditions, customer preferences, or specific marketing objectives. Offering seasonal discounts is a common pricing strategy used to incentivize customers to make purchases during specific times of the year, such as holidays or low-demand periods. These discounts can attract new customers, encourage repeat purchases, and stimulate sales during certain seasons or promotional periods.
Question : Case Study:
ABC Corporation promotes its energy-efficient home appliances through advertisements that emphasize the long-term cost savings for consumers. What objection to advertising is minimized through this approach?
Option 1: Lack of Credibility
Option 2: Overexposure
Option 3: Irrelevance
Option 4: Exaggeration and Deception
Correct Answer: Irrelevance
Solution : The correct answer is (c) Irrelevance.
By highlighting the long-term cost savings, ABC Corporation makes the advertisement more relevant to consumers who are likely interested in saving money over an extended period. It directly addresses a significant concern for consumers, making the advertisement more pertinent and appealing to their needs and interests.
Question : Case Study 32:
A consumer bought a laptop online, and the seller promised a cashback offer within two weeks of purchase. However, the cashback was not credited to the consumer's account as promised. What action can the consumer take in this case?
Option 1: File a complaint with the District Consumer Disputes Redressal Forum.
Option 2: Lodge a complaint with the National Consumer Disputes Redressal Commission directly.
Option 3: Contact the Advertising Standards Council of India (ASCI) for assistance.
Option 4: Give up on the cashback offer, as it might be a fraudulent promise.
Correct Answer: File a complaint with the District Consumer Disputes Redressal Forum.
Solution : The correct answer is (a) File a complaint with the District Consumer Disputes Redressal Forum.
When a consumer has an issue with a product or service, such as not receiving a promised cashback offer, they can typically file a complaint with the District Consumer Disputes Redressal Forum, which is a consumer dispute resolution mechanism in India. This forum can help resolve disputes between consumers and sellers, including issues related to non-fulfillment of promises or commitments made by the seller. It is a legal recourse available to consumers to seek redressal for such issues.
Question : Which of the following is an example of a market research method?
Option 1: Product pricing
Option 2: Sales forecasting
Option 3: Customer surveys
Option 4: Advertising campaign development
Correct Answer: Customer surveys
Solution : The correct answer is (c) Customer surveys.
Customer surveys are an example of a market research method. Market research involves collecting and analyzing data to gain insights into markets, customers, competitors, and other relevant factors that impact business decision-making. It helps companies understand customer needs, preferences, and behaviors, as well as evaluate market opportunities and assess the effectiveness of marketing strategies.
Customer surveys are a common market research method used to gather information directly from customers. Surveys can be conducted through various means such as online surveys, phone surveys, in-person interviews, or mailed questionnaires. They typically consist of a series of questions designed to gather feedback, opinions, and insights from customers regarding their experiences, preferences, satisfaction levels, or other relevant aspects.
Question : Sentences of a paragraph are given below. While the first and the last sentences (S1 and S6) are in the correct order, the sentences in between are jumbled up and named P,Q,R,S. Arrange the sentences in the correct order to form a meaningful and coherent paragraph.
(S1) The poster ranks high as a medium of publicity. (P) Advertisement can be displayed before a much larger number of persons for a longer time by means of a poster than by the expenditure of the same amount of money in the Press, and it is, therefore, often found to be the better means of keeping them in the public eye. (Q) Nor must it be forgotten that a newspaper is bought by the reader, and on that account enjoys an enhanced value; and further, that the purchaser usually takes the paper home where it is perused by the whole household. (R) It has, by reason of its size and the facilities which it affords for the use of colour, a very powerful effect on the public mind. (S) It must, however, be remembered that the attention received by a newspaper is much closer and more intimate than that accorded to a poster. (S6) If more is desired than the instantaneous impact on the mind, the advertising value of the poster falls sharply.
Option 1: QSPR
Option 2: PQRS
Option 3: RPSQ
Option 4: RPQS
Correct Answer: RPSQ
Solution : The third option is the correct choice.
Therefore, the correct answer is RPSQ.
Question : Case Study 14:
A consumer purchased a branded watch from a local dealer. The dealer falsely claimed that the watch was made of pure gold and sold it at an exorbitant price. Upon inspection, the consumer found that the watch was not made of gold. Which authority can take action against the dealer for this deceptive practice?
Option 1: Consumer Protection Council
Option 2: National Consumer Disputes Redressal Commission
Option 3: Advertising Standards Council of India (ASCI)
Option 4: District Consumer Disputes Redressal Forum
Correct Answer: District Consumer Disputes Redressal Forum
Solution : The correct answer is (d) District Consumer Disputes Redressal Forum
In this case of deceptive practice by a local dealer, the District Consumer Disputes Redressal Forum would typically be the appropriate authority to take action against the dealer. These forums are established at the district level in India and handle consumer complaints and disputes related to deceptive trade practices and violations of consumer rights. The consumer can file a complaint with the District Consumer Disputes Redressal Forum to seek redress and resolution in such cases.
ABC Clothing uses various advertising channels, such as television, social media, and print media, to promote its latest fashion collection. Which advantage of advertising is highlighted here?
Option 1: Direct Sales Conversion
Option 2: Short-Term Sales Boost
Option 3: Enhanced Brand Recall
Option 4: Cost Minimization
Correct Answer: Enhanced Brand Recall
Solution : The correct answer is (c) Enhanced Brand Recall.
ABC Clothing uses various advertising channels like television, social media, and print media to promote its latest fashion collection. By utilizing these channels, ABC Clothing aims to enhance brand recall, making sure that consumers remember their brand and fashion collection when they think about clothing or related products. Advertising helps in creating a lasting impression and improving brand recall among the target audience. Direct sales conversion and short-term sales boost are possible outcomes of effective advertising, but in this case, the focus is on enhancing brand recall, which is a longer-term benefit. Cost minimization is not the primary advantage highlighted here.
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