71. The Macro Environment which studies changes in features of population is:
(A) Demographic Environment
(B) Cultural Environment
(C) Economic Environment
(D) Natural Environment
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72. The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as:
(A) Segmentation
(B) Integration
(C) Disintermediation
(D) Customization
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Explanation:
73. ________ allows the company to discover who its target markets are and what they need or want. It also enables the company to respond appropriately and quickly to different customer opportunities.
(A) Customer relationship management
(B) Network management
(C) Supply chain management
(D) Inventory management
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Explanation:
74. From the following, Identify the INCORRECT statement:
(A) A need is a felt state of deprivation of a consumer like hunger
(B) Value can be defined as the difference between cost and benefit
(C) The central aim of marketing is to make profit even if a customer is not satisfied
(D) The marketing mix for services consist of 7 Ps while for products it is 4Ps
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Explanation:
75. The consumer has a right to get relief in case of defective goods or deficient services as per the:
(A) Right to be informed
(B) Right to be heard
(C) Right to choose
(D) Right to seek redressal
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Explanation: