1. Product planners need to consider the product on three levels.
What is the most basic level that
addresses the question: what is the buyer really buying? 1. Core product 2. Augmented product
[Link] Product
2. Ramesh, an owner of Auto spares parts having its operations spread all across India through its
Business Partners, Sitting with its core team in the meeting room discussing the marketing
strategies. The people in the team were of the view that consumers prefer spares that are
widely available for their vehicles and are in-expensive in nature? The team member were
referring to _______________________ 1. Production Concept 2. Marketing Concept 3. Product
Concept
The Production Concept: The production concept explains that consumers like to purchase those
products which are available in abundance in the market and are priced less. Managers of
production-oriented organizations focus on attaining high levels of production at low costs and
mass distribution. The production concept is used by marketers when they want to penetrate
the market. For example, to remove the barriers to the adoption of computers, manufacturers
lower the price by increasing production.
3 . In reference to the above discussion, where Ramesh and his Core Team were into the
discussion couple of the members who were from Research and Development emphasized and
stated that the consumer shall favor those products that offers quality, performance or 2.5 CO1
innovative in nature rather just being inexpensive in the market. The members while discussing
refers to ________________________________ 1. Product Concept 2. Production Concept 3.
Marketing Concept
The Product Concept: The product concept explains that customers seek superior quality
goods and services, which offer good performance and innovative features. A new or modified
product usually proves to be a success in the market when it is priced, advertised, distributed
and sold efficiently. iPhone is a good example of this concept as every new model introduced
has better features, higher pricing, and greater demand.
4 .The Ramesh during the discussion was of the view that consumer and businesses, if left alone
will ordinarily not buy enough of the organization’s products. The Company must therefore
undertake aggressive promotional and selling efforts for increasing the turnover of the
company. The Ramesh being the owner of the company was laying emphasis
on_____________________ 1. Sales concept 2. Promotional Concept 3. Marketing Concept
5. During the discussion Ramesh also had a discussion with its strategic team and wanted to
know the exact position of Company in the market. The strategic team revealed that some of
the Products of the company are ruling the market, although the more, the growth of the
market since couple of years has shown decline in growth? The team identified the position of
the business as___________________________ 1. Cash Cow 2. Star 3. Dog
6 . To remain competitive in the market and sustain the ongoing trend, Rames suggested the
company’s strategy regarding sales team that sales persons shall contact the customers from
time to time and seek suggestions about the improved product use. Ramesh basically wanted
sales team to adopt _______________ approach. 1. Proactive Marketing 2. Accountable
Marketing 3. Reactive Marketing
7. Arvind Mills, a famous name in the world of fabrics, wanted to introduce totally new range of
products that is going to appeal various customer segment. For the purpose the CMD of the
company wants to know most fundamental determents of person’s wants and behavior. To
conclude the study, the marketing team identified the segment based on____________ 1.
Culture 2. Subculture 3. Social Class
8. While conducting the survey for Arvind Mills the research team came across the fact that
there exist groups with shared values, emerged out of their special life experiences or
circumstances. Such types of groups can be categorized
under____________________________________ 2.5 CO1 1. Sub-Culture 2. Culture 3. Social
Class
9. The Research Team while conducting the survey for Arvind Mills Ltd also studied that in case if
the customer is satisfied with the product, shall buy the product / brand again and again. The
customer behavior studied under such a circumstances, can be classified as______________ 1.
Routinized [RPS] 2. Limited [LPS] 3. Extensive [EPS]
10. The persons enduring favorable or unfavorable evaluations, emotional feelings, and action
tendencies towards some idea or object is known as
1. Attitude 2. Belief 3. Perception
11. Marketing is all about creating, communicating & delivering ……………………Values……………
12. In today’s world, customers buy benefits / services / solutions & not ………Products……………..