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
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).
Important Questions from Marketing mix
- 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 Evaluate the statements according to Brand Asset Valuator Model of Brand Equity :
Statement (I) : Knowledge measures the degree to which a brand is seen as different from others as well as its pricing power.
Statement (II) : Esteem measures perceptions of quality and loyalty or how well the brand is regarded and respected.
Code :
From the given columns which of the combinations best describe the concepts of product hierarchy?
(a) Need family (i) The core need that underlines the existence of a product family (b) Product family (ii) Group of items within a product line that share one of several possible forms of the product (c) Product class (iii) Group of products within the product family recognized as having a certain functional coherence (d) Product line (iv) All the product classes that can satisfy a core need with reasonable effectiveness
