Question
Match the items of List - I with List - II and denote the code of correct matching :List - I List - II (a) Acceptability (i) Convenience Aspect (b) Affordability (ii) Functional and Psychological Aspects (c) Accessibility (iii) Information and knowledge Aspects (d) Awareness (iv) Economic and Psychological Aspects
The correct answer is
(a)-(ii), (b)-(iv), (c)-(i), (d)-(iii)
Matching List I and List II Items
The question requires matching items from List I (concepts related to product/service adoption or evaluation) with appropriate aspects from List II.
Key Concepts Analysis
- (a) Acceptability: Refers to the willingness of consumers to use or adopt a product or service. This involves subjective judgments, trust, and how well it fits user needs and expectations, aligning with Functional and Psychological Aspects.
- (b) Affordability: Concerns the price of a product or service relative to a consumer's ability and willingness to pay. This involves financial considerations and the perceived value, matching Economic and Psychological Aspects.
- (c) Accessibility: Relates to the ease with which consumers can obtain, use, or interact with a product or service. This involves factors like availability, location, and ease of use, fitting the Convenience Aspect.
- (d) Awareness: Represents the extent to which consumers know about a product or service. This is fundamentally about having access to information, linking to Information and knowledge Aspects.
Correct Matching Summary
Based on the analysis, the correct matching is:
- (a) Acceptability - (ii) Functional and Psychological Aspects
- (b) Affordability - (iv) Economic and Psychological Aspects
- (c) Accessibility - (i) Convenience Aspect
- (d) Awareness - (iii) Information and knowledge Aspects
Therefore, the correct option is (a)-(ii), (b)-(iv), (c)-(i), (d)-(iii).
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Important Questions from Marketing mix
Which of the following statements represents marketing ?
- Which one is not a part of Marketing Mix ?
- Give the correct sequence for Marketing strategy.
(i) Promotion
(ii) Packing
(iii) Analysing
(iv) Developing
(v) Distribution
(vi) Pricing
Code : - Match the pricing strategies in List - I with their appropriate explanation in List - II :
List - I List - II (a) Bundle pricing (i) Price for any product is deliberately fixed lower than the prices of competitors (b) Parity pricing (ii) Prices fixed for similar products and services are the same as competitor’s prices (c) Penetration pricing (iii) Price fixation is allowed at levels higher than competitors (d) Premium pricing (iv) Involves being the leader in fixing prices by benchmarking them (v) Set of products and services are clubbed together and charged at lower than the sum of individual elements in the mix The step after 'concept testing' in the new product development process is:
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