1. What is HNI ?

A. Highly Needed Incentives B. Highest Net Income C. Human Narrow Innovation D. High Net worth Individuals E. None of these

2. In Double-Win strategy, the salesperson and customers are personally and professionally satisfied with the _______

A. Income of sale transaction B. Outcome of sale transaction C. Passive income D. Portfolio income E. None of these

3. Which of the following is the most powerful marketing channel ?

A. Advertising B. Ongoing Marketing C. WOM marketing D. Immediate Marketing E. None of these

4. _____ is an income generated by selling an investment at a higher price than you paid for it

A. Gain B. Portfolio C. Profit D. Earning E. None of these

5. Rental income is an example of ______

A. Passive income B. Profit income C. Ongoing income D. Portfolio income E. None of these

Answers and Explanations
1. Answer - Option D
Explanation -
High net worth individual (HNI) is a classification used by the financial services industry to denote an individual or family with high net worth.
2. Answer - Option B
Explanation -
Double-win strategy refers to the use of win-win approach where salesperson and customers are personally and professionally satisfied with the outcome of sale transaction.
3. Answer - Option C
Explanation -
Word-of-mouth marketing (WOMM, WOM marketing), also called word of mouth advertising, differs from naturally occurring word of mouth, in that it is actively influenced or encouraged by organizations (e.g. ‘seeding’ a message in a networks rewarding regular consumers to engage in WOM, employing WOM ‘agents’).
4. Answer - Option B
Explanation -
Portfolio income is any income generated by selling an investment at a higher price than you paid for it. Some people refer to portfolio income as “capital gains,” because that’s how the money is taxed by the federal government.
5. Answer - Option A
Explanation -
Passive income is money you get from assets you have purchased or created. For example, if you were to buy a house and rent it out for more money than it costs you to pay your mortgage and other expenses, the profit you make would be considered passive income

1. ________ is a component of customer satisfaction

A. Cost price B. Value price C. Transfer price D. Fair price E. None of these

2. The consumer of a bank comes under _______ environment

A. Internal B. Direct C. Indirect D. External E. None of these

3. ______ is the smallest retailing unit

A. Convenience store B. Grocery store C. General store D. Departmental store E. None of these

4. Marketing mix is a combination of factors that can be controlled by

A. Consumers B. Customers C. Company D. Company E. None of these

5. Planned cost service means __________

A. Extra profit on the same cost B. Extra profit on the price cost C. Extra profit on the selling cost D. Extra profit on the market cost E. None of these

Answers and Explanations
1. Answer - Option D
Explanation -
Fair price is a component of customer satisfaction. Fair market price is the price of something at which both a seller and a buyer are willing to strike a deal.
2. Answer - Option D
Explanation -
An external environment is composed of all the outside factors or influences that impact the operation of business. The business must act or react to keep up its flow of operations. The external environment can be broken down into two types: the micro environment and the macro environment.
3. Answer - Option A
Explanation -
A convenience store is a small retail business that stocks a range of everyday items such as groceries, snack foods, confectionery, soft drinks, tobacco products, over-the-counter drugs, toiletries, newspapers, and magazines
4. Answer - Option B
Explanation -
Marketing mix is a combination of factors that can be controlled by a company to influence consumers to purchase its products.
5. Answer - Option A
Explanation -
Planned cost service means extra profit on the same cost

1. A market created around some activity or probability is known as

A. Decision Market B. Prediction market C. Virtual Market D. Information Market E. All of these

2. A prediction market contract trades between __________% and __________%

A. 0, 100 B. 10,100 C. 50,100 D. 0, 50 E. None of these

3. Which of the following is primary cost elements ?

A. Material costs B. Personnel costs C. Energy costs D. All of these E. None of these

4. ______ is/are Secondary cost elements

A. Material overheads B. Production costs C. Production overheads D. All of these E. None of these

5. The service marketing related with

A. Promises B. Goods C. Products D. Customers E. None of these

Answers and Explanations
1. Answer - Option E
Explanation -
Prediction markets (predictive markets, information markets, decision markets, idea futures, event derivatives, or virtual markets) are exchange-traded markets created for the purpose of trading the outcome of events. The market prices can indicate what the crowd thinks the probability of the event is.
2. Answer - Option A
Explanation -
A prediction market contract trades between 0 and 100%. It is a binary option that will expire at the price of 0 or 100%.
3. Answer - Option D
Explanation -
Primary cost elements are like material costs, personnel costs, energy costs
4. Answer - Option D
Explanation -
Secondary cost elements are like production costs, material overheads, production overheads, they can be created and administered in only CO.
5. Answer - Option A
Explanation -
Services Marketing Triangle are activities revolve around making and keeping promises to customers.