The primary purpose of branding is to give a product a unique identity (name, design, symbol) to differentiate it clearly from competing products in the marketplace.
37. Which of the following is an example of sales promotion?
a) TV commercial
b) Newspaper ad
c) Discount coupon
d) Company website
Answer:
c) Discount coupon
Explanation:
A discount coupon is a short-term incentive (sales promotion) designed to encourage the immediate purchase or trial of a product or service.
38. A customer buys a refrigerator that stops working after a week. The seller refuses to replace it. Where should the consumer complain?
a) District Consumer Disputes Redressal Commission (DCDRC)
b) Consumer Affairs Department
c) State Consumer Disputes Redressal Commission (SCDRC)
d) Civil Court
Answer:
a) District Consumer Disputes Redressal Commission (DCDRC)
Explanation:
For a claim regarding a single consumer appliance like a refrigerator (where the value is typically below the state/national thresholds), the primary court of first instance is the District Commission.
39. On what grounds you cannot claim compensation from the product manufacturer?
a) Manufacturing Defect
b) Defect in design
c) Deviation from specification
d) Damaged by consumer
Answer:
d) Damaged by consumer
Explanation:
A manufacturer is liable for defects in production or design, but they are not legally liable for compensation if the product was misused or damaged directly by the consumer.
40. The process of converting securities into cash is called:
a) Trading
b) Auction
c) Liquidity
d) Underwriting
Answer:
c) Liquidity
Explanation:
Liquidity refers to the ease and speed with which an asset or security can be converted into ready cash without affecting its market price.
