UGC NET Management Previous Year Solved Papers MCQ - January 2017

The broad environment consists of six components: demographic environment, economic environment, natural environment, technological environment, political-legal environment and social-cultural environment. These environments contain forces that can have a major impact on the actors in the task environment, which is why smart marketers track environmental trends and changes closely.

An undifferentiated marketing strategy is mostly used in mass marketing, treating the entire market as one segment. This involves the same marketing mix being directed to cover the entire market. However, as incomes have increased and competition intensified the need to target market segments has risen. This involves a differentiated marketing strategy, by which the market is split into segments to target sales by catering for groups of consumers. For example, a leisure centre might use different strategies to target families with children and the elderly using separate marketing mixes.
Differentiated marketing offers a degree of product variability, and differentiation intensifies as the product matures and the increase in sales slows down. A concentrated marketing strategy is seen as the final stage in the development of marketing coverage strategies, in which the marketing mix is targeted on a narrow segment of customers known as a niche.

Brand Associations: All brand-related thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand node.
Brand Contact: Any information-bearing experience a customer or prospect has with the brand, the product category, or the market that relates to the offering.
Brand Dilution: When consumers no longer associate a brand with a specific product or highly similar products or start thinking less favorably about the brand.
Brand Elements: Those trademarkable devices that serve to identify and differentiate the brand such as a brand name, logo, or character.
Brand Equity: The added value endowed to products and services.
Brand Extension: A company’s use of an established brand to introduce a new product.
Brand Image: The perceptions and beliefs held by consumers, as reflected in the associations held in consumer memory.
Brand Personality: The specific mix of human traits that may be attributed to a particular brand.
Brand Portfolio: The set of all brands and brand lines a particular firm offers for sale to buyers in a particular category.
Brand Promise: The marketer’s vision of what the brand must be and do for consumers.
Branding Strategy: The number and nature of common and distinctive brand elements applied to the different products sold by the firm.
Brand Knowledge: It consists of all thoughts, feelings, images, experiences, beliefs and so on that become associated with the brand.
Brand Line: All products original as well as line and category extensions sold under a particular brand name.
Brand Personality: The specific mix of human traits that may be attributed to a particular brand.

Advertising is any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor. Ads can be a cost-effective way to disseminate messages, whether to build a brand preference or to educate people. In developing an advertising program, marketing managers must always start by identifying the target market and buyer motives. Then they can make the five major decisions, known as the five Ms: Mission: What are the advertising objectives? Money: How much can be spent? Message: What message should be sent? Media: What media should be used? Measurement: How should the results be evaluated?