Quick Study Notes on Marketing - Banking Exam Notes

1. A lead means – A prospective buyer

2. Benchmark means – set standards

3. Customization means – specific products for each customer

4. Customer retention means – customers dealing with the same organization for a long time

5. Value Added Service means – additional service

6. The sequence of the sales process is – Lead, call, presentation, and sale

7. "POS" means – Point Of Sale.

8. Market Research is useful for – deciding proper marketing strategies

9. A ‘call’ means – visiting prospective customers.

10. Online marketing is the function of - I.T Department

11. Customization is useful for – Designing customer-specific products.

12. The key challenge to a market-driven strategy is Delivering superior values to the customers.

13. Effective selling skills depends on the knowledge level of the sales team.

14.  Generation of sales leads can be improved by increasing personal and professional contacts.

15.  A market plan is – Documented marketing strategies

16. Marketing channel mean – Delivery outlets.

17. Social Marketing means - marketing for a social cause.

18.  Service marketing means - Relationship Marketing

19.  Market-driven Strategies include – positioning the organization and its brand in the market place.

20.  Innovation in marketing means – Creativity

21.  Personal loan can de be canvassed among – Salaried persons

22.  A presentation means – explaining the utility of products

23.  Conversion means – converting a prospective client into a buyer

24. Modern style of marketing include – digital marketing, telemarketing, e-commerce, e-mail solicitation

25.  e-marketing is the same as – digital marketing

26.  Aggressive marketing is necessitated due to – increased competition

27.  Efficient marketing style requires proper planning, good communication skill, teamwork, knowledge of products.

28.  The performance of a salesperson depends on ability and willingness of the salesperson.

29.  The sole aim of marketing is to – increase sales.

30.  Lead generation means – likely sources for prospective clients.

31.  CRM – Customer Relationship Management

32.  CRM is – A pre-sale activity/ a tool for lead generation/ an ongoing daily activity/the task of a DSA.

33.  Bancassuranse can be sold to – All existing and prospective bank customers. 

34.  A successful “Blue Ocean Strategy” requires – effective communication/innovative skills/motivation.

35.  Cross-selling is the basic function of all salespersons.

36.  Data Mining means – analyzing the data stored with the back-office staff.

37.  SME means – small and medium enterprises 

38.  The first step in the transaction processing cycle is – data entry

39.  Collecting personal information and effectively posing as another individual is known as – the crime of spoofing

40.  A presentation means: Explain the utility products

41.  Relationship Marketing is useful for Cross-selling product

42.  Good Public relations indicate Improved marketing skills, Improved brand image,   Improved customer service.

43.  Networking helps in marking marketing function: An easy task

44.  Delivery Channel means — Place where products are made available to the buyers

45.  One of the methods for market monitoring is — To discuss with other salespersons

46.  A scenario in which a customer has too much awareness of the Brand is called: Over Positioning

47.  Creating a distinctive place in the minds of a customer means Brand Positioning.

48.  Say’s Law of Markets states that — Supply creates its own demand.

49.  Gresham’s Law states that — Bad money drives good money out of circulation.

50.  Investment is defined as a— Change in the stock of capital.

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