Professional Knowledge Questions asked in IBPS Specialist Officers

Dear Aspirants,
Some of the Professional Knowledge questions asked in 1-2-2016 IBPS Specialist Officer (Marketing) Exam are listed below. These all questions will very helpful to you for the upcoming Specialist Officer exams and will increase your intelligence skills.

Professional Knowledge Solved Questions–

1. A tangible product that the consumer feels comfortable purchasing without gathering additional information and then actually buys with minimum of effort is termed a(n)–
(A) Shopping good (B) Convenience good (C) Business product
(D) Specially good (E) Unsought good (Ans : B)

2. The process of dividing a market into distinct groups of buyers who have different needs, characteristics or behaviours and who might require separate products or marketing programs is called–
(A) Market segmentation (B) Market positioning (C) Market differentiation
(D) Market targeting (E) Marketing mix (Ans : A)

3. .......... is not a stage of product life cycle in marketing.
(A) introduction (B) maturity (C) Growth (D) Decline (E) Planning (Ans : E)

4. Which of the following is not a characteristic important in influencing an innovator's rate of adoption?
(A) Organization type of the innovator (B) Compatibility (C) Divisibility
(D) Communicability (E) Complexity (Ans : A)

5. The financial contracts whose values are obtained from the values of underlying assets are .......... 
(A) mortgage (B) Commercial papers (C) Stocks (D) Derivatives (E) Bonds (Ans : D)

6. All of the following are considered to be broad market-follower strategies EXCEPT–
(A) innovator (B) imitator (C) cloner (D) counterteller (E) adapter (Ans : E)

7. A company has four choices when it comes to developing brands. Which one of the following is not one among them?
(A) New brands (B) Multi brands (C) Brand extension (D) Line extension (E) Brand sponsoring (Ans : E)

8. .......... is a demand state where consumer may share a strong need that cannot be satisfied by an existing model ?
(A) declining demand (B) irregular demand (C) negative demand
(D) non-existent demand (E) latent demand (Ans : E)

9. .......... is the development, design and implementation of marketing programme, processes and activities that recognises the breadth and interdependencies of today's marketing environment.
(A) Niche marketing (B) Supply chain marketing (C) Holistic marketing
(D) Relationship marketing (E) Demand-centred marketing (Ans : C)

10. The .......... holds that marketing strategy should deliver value to customers in a way that maintain or improve both the consumer's and society's well-being.
(A) Societal marketing concept (B) Society centered marketing (C) Customer-centered marketing
(D) Focused business model (E) Production centered business (Ans : C)

11. Major oil producers carry an oil exploration, oil drilling, oil refining, chemical manufacture and service-station operation. When an organization does all of these separate tasks distribution channel they can be said to have achieved what is called–
(A) parallel marketing (B) horizontal integration (C) vertical integration
(D) concentric integration (E) conglomerate marketing (Ans : C)

12. Which of the following describes the tendency of people to interpret information in a way that will support what they already believe?
(A) Selective creativity (B) Selective distortion (C) Selective matching
(D) Selective attraction (E) Selective attribute (Ans : B)

13. The .......... stage of a product is characterized as being one where there is period of rapid climb in sales and substantial profit improvement.
(A) introduction (B) decline (C) maturity (D) saturation (E) growth (Ans : E)

14. The discomfort caused by post purchase conflict is called–
(A) Dissatisfaction (B) Cognitive Dissonance (C) Post purchase behaviour
(D) Buyer's remorse (E) Comparative tension (Ans : B)

15. .......... is the study 0 f how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences tot satisfy their needs and wants.
(A) Psychology (B) Product differentiation (C) Psychographic segmentation
(D) Target marketing (E) Consumer behaviour (Ans : E)

16. Mutual Funds are regulated in the country by–
(A) IRDA (B) Association of Mutual Funds of India (AMFI) (C) NABARD
(D) Securities and Exchange Board of India (E) Reserve Bank of India (Ans : D)

17. Situation in which a firm introduces new products to stimulate sales but the profit comes at the expense of other products sold by that firm is called–
(A) Repositioning (B) Push marketing (C) Differentiated marketing
(D) Cannibalization (E) Cartelization (Ans : D)

18. Cultivating opinion leaders and getting them to spread information about a product or service to others in their communities is–
(A) Buzz marketing (B) Leader Marketing (C) Niche Marketing
(D) Complex Marketing (E) Selective Marketing (Ans : A)

19. Marketing management is defined as–
(A) Monitoring the profitability of the company's products and services
(B) The art and science of choosing target markets and building profitable relationship with them
(C) Managing the market process
(D) Developing marketing strategies to move the company forward
(E) Selecting target markets to deploy marketers (Ans : D)

20. The measure of the brand's ability to capture consumer performance and loyalty is termed–
(A) Brand superiority (B) Brand equity (C) Brand version
(D) Brand loyalty (E) Brand preference (Ans : D)

21. Mission statements are at their best when they reflect a .......... an almost impossible dream that provides direction for the next 10 to 30 years.
(A) Market (B) Strength (C) Competency (D) Vision (E) Value (Ans : D)

22. A strategy in which the initial price of the product is set low in relation to the target market's range of expected price is termed–
(A) Market Skimming Pricing (B) Old Pricing (C) Discount market pricing
(D) Market Penetration Pricing (E) Special Market Pricing (Ans : C)

23. A group of tradition bound consumers who are the tool to adapt an innovation is called–
(A) Challengers (B) Leaders (C) Innovators (D) Laggards (E) Loyal agents (Ans : D)

24. Low prices on products for which you have accurate price knowledge lets you know that the product has to be a bargain. This type of pricing is termed-
(A) Reference pricing (B) Psychological pricing (C) Volume pricing
(D) Promotional pricing (E) Signpost pricing (Ans : A)

25. The want satisfying power of a product is called its–
(A) Price (B) Utility (C) Bond (D) Purpose (E) Goal (Ans : B)

26. Based on the rates firms play in the target market in a specific industry, they are classified as following except in a–
(A) Market challenger (B) Market plotter (C) Market leader
(D) Market nicher (E) Market follower (Ans : B)

27. TQM approach in which all the people of the company are involved in constantly improving the performance of products, services and business processes. TQM stands for–
(A) Tata Quality Management (B) Total Quality Marketing (C) Total Quantity Management
(D) Total Queries Management (E) Total Quality Manipulation (Ans : )

28. When backed by buying power, wants become–
(A) self-esteem needs (B) demands (C) exchanges (D) physical needs (E) social needs (Ans : B)

29. The philosophy of product centered concept is .......... 
(A) Right products for the customers (B) Make and sell (C) Make what the market wants
(D) Sense and respond (E) Selling on product benefits (Ans : B)

30. The customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers is called–
(A) Customer perceived value (B) Customer expectation (C) Customer satisfaction
(D) Customer Loyalty (E) Customer relationship (Ans : A)

31. Button market is where .......... 
(A) capital is disposed (B) gold is purchased and sold (C) shares are purchased
(D) production of silver takes place (E) investments are made (Ans : E)

32. Especially in large firms, a sales force frequently is specialized in some organizational fashion. Which of the following is not one of such specializations?
(A) Customer specialization (B) Major accounts specialization (C) Product specialization
(D) Geographic specialization (E) Economic order specialization (Ans : B)

33. Greater consumer control means that, in building customer relationships, companies can no longer rely on marketing by intrusion. The most practice marketing is–
(A) Conversion (B) Delivery (C) Retention (D) Attraction (E) Attention (Ans : D)

34. According to Maslow's Hierarchy of Needs, sense of belonging is grouped in–
(A) Esteem needs (B) Social needs (C) Safety needs
(D) Physiological needs (E) Self-actualization needs (Ans : B)

35. Michael Porter has identified five forces that determine the intrinsic long-run attractiveness of a market segment. Which of the following would not be among Porter's five forces?
(A) Threat of buyers' growing bargaining power (B) Threat of substitute products
(C) Threat of technological partners (D) Threat of intense segment rivalry
(E) Threat of new entrants (Ans : C)

36. The unplanned static or distortion during the communication process, which results in the receivers' getting a different message then the one that the sender sent is the–
(A) Response (B) Feedback (C) Noise (D) Decoding (E) Encoding (Ans : C)

37. If a MNC like Nestle varied the elements of the marketing mix to suit the countries in which it sold its products, which type of strategy would it be following?
(A) Differentiated (B) Undifferentiated (C) Standardized (D) Adapted (E) Concentrated (Ans : C)

38. Under which of the following company orientations towards the market place would we expect to get 'better economical' talacy ?
(A) Marketing concept (B) Holistic marketing concept (C) Production concept
(D) Selling concept (E) Product concept (Ans : B)

39. If a company focuses on only one or a few market segments instead of small share of a large market, the same is–
(A) Segment marketing (B) Conceptual marketing (C) Mass Marketing
(D) Micro Marketing (E) Niche Marketing (Ans : A)

40. An estimate the total financial value of the brand is–
(A) Brand valuation (B) Brand tracking (C) Brand auditing
(D) Brand partitioning (E) Brand equity (Ans : E)

41. The total combined customer value of all the company's current and potential customers is called–
(A) Customer share (B) Customer delight (C) Customer loyalty
(D) Customer orientation (E) Customer equity (Ans : C)

42. We can say that a .......... has three characteristics. (1) It is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits; (2) It has application in a wide variety of markets, and (3) It is difficult for competitors to imitate.
(A) Strategic business unit (B) Core competency (C) Business strategy
(D) Winning strategy (E) Core technology (Ans : B)

43. Which demographic segmentation divides buyers into different groups based on social class, lifestyle or personality characteristics?
(A) Age and life cycle segmentation (B) Gender segmentation (C) Age segmentation
(D) Psychographic segmentation (E) Income segmentation (Ans : D)

44. The internet version of word of mouth marketing is termed–
(A) Viral marketing (B) Web marketing (C) Channel marketing
(D) Network marketing (E) Virtual marketing (Ans : A)

45. .......... is the development, interpretation and communication of decision oriented information to be used in all phases of marketing process.
(A) Marketing forecast (B) Market intelligence (C) Market Planning
(D) Marketing research (E) Marketing information system (Ans : E)

46. GAIT is more than 60 years old treaty designed to promote world trade by reducing tariff and other international trade barriers. GAIT stands for–
(A) General Aspects on Tariff and Trade (B) General Agreement on Traffic and Trade
(C) Geneva Agreement on Trade and Tariff (D) General Allowance for Trade and Tariff
(E) Geneva Agreement on Traffic or Trade (Ans : B)

47. People differ greatly in their readiness to try new products. Which of the following do not belong to the adapter categorization on the basis of relation time of adopter of innovators?
(A) Innovators (B) Laggards (C) Early Majority (D) Late Majority (E) Super Majority (Ans : C)

48. As per BCG Matrix of classification of SBUs of an organization, Cash cows are SBUs that typically generate–
(A) Large Awareness Levels But few sales (B) Problems for product managers often (C) High industry growth
(D) More cash than that can be invested profitably in its own business (E) Paper losses in the long run (Ans : D)

49. A strategy of .......... pricing involves using prick in a competitive weapon in order to push competitors out of market or eliminate competitors.
(A) Bargain (B) Psychological (C) Premium (D) Advanced (E) Predatory (Ans : B)

50. Behavioural basis of market segmentation includes–
(A) Loyalty or brand loyalty (B) Attitude (C) Buying occasions (D) All of these (Ans : B)