FBQ1: _______________ is defined as “Anything that has the capacity to produce the satisfaction use or perhaps, the profit desired by the customer”. Answer: product FBQ2: _____________ concept indicates that consumers are primarily interested in product quality, and know the quality and feature differences amongst the competing products. Answer: Product FBQ3: ____ is the creation, development and delivery of products and services that satisfy the needs and wants of the customer, at a profit.  Answer: Marketing FBQ4: ___________concept believes that consumers can be induced to buy more through various sales stimulating devices.  Answer: Selling FBQ5: _______________concept believes that organizations, while focusing on consumer satisfaction, should reconcile such objective with social and environmental considerations. Answer: Societal marketing FBQ6: ____ function is to provide logistics that delivers the products cost-efficiency on a timely basis. Answer: Marketing FBQ7: The first step in the marketing process is ____.  Answer: Situation analysis marketing FBQ8: Financial services are the economic services providers by the ________. Answer: Financial industry FBQ9: The term “financial services” become more prevalent in the United States partly as a result of the Gramm Leach-Bliley Act of the late ____, which enabled different types of companies operating in the U.S financial services industry at that time to merge.  Answer: 1990s FBQ10: ____________ is defined as those “activities”, benefits, or satisfactions which are offered services for sale, or are provided in connection with the sales of goods. Answer: Services FBQ11: Services often cannot be separated from their__________. Answer: Providers FBQ12: Financial institutions because it has the same nature of service must be creative and ___________ to market needs.  Answer: Responsive FBQ13: Marketing came into Nigeria banks after ____ not in form of application of the marketing concepts but inform of advertising and after promotional concepts. Answer: Mid-80s FBQ14: Since no company can operate in every market and satisfy every need, there is need for market ________________. Answer: Segmentation FBQ15: Mass marketing can also be referred to as ____________ marketing  Answer: Undifferentiated FBQ16: __________ differentiation is often adopted when a company is faced with competition. Answer: Product FBQ17: ____________is a pattern of living adopted by an individual. Answer: Lifestyle FBQ18: ____________is used when a new product is introduced into a market in which there are no competitors. Answer: Skimming pricing FBQ19: A firm that uses ___________ sets a price only slightly higher than the cost of the product. Answer: Penetration strategy FBQ20: _____________________is defined as the process by which marketing plans are developed for products. Answer: Marketing planning FBQ21: ____ is concerned principally with making the product available at the desired time and place. Answer: Distribution strategy FBQ22: ________________ should be done in such a way that the brand name must attract the attention of customers. Answer: Branding FBQ23: ______________ refers to a short-term arrangement where both the buyer and seller have an interest in providing a more satisfying exchange. Answer: Relationship marketing FBQ24: The source of new product can either be internal or ______________.  Answer: External FBQ25: The word entrepreneur originated from the French word _____________ Answer: “Entreprende” FBQ26: _____________ is defined as the process of using initiative to transform business concept to new venture, diversify existing venture or enterprise to high growing venture potentials. Answer: Entrepreneurship FBQ27: _______________ is defined as a person who makes money by starting or running businesses, especially when this involves taking financial risks. Answer: Entrepreneur FBQ28: __________is defined as the act or process of growth, progress and improvement within a physical setting. Answer: Development FBQ29: ___________ is defined as referring to the process of enhancing entrepreneurial skills and knowledge through structured training and institution- building programmes. Answer: Entrepreneurship development FBQ30: Any entrepreneur is a risk taker. True or False Answer: True FBQ31: An entrepreneur should always possess the _________and resourcefulness to achieve objectives. Answer: Initiative FBQ32: Market segmentation is a ___________ philosophy. Answer: Customer-oriented FBQ33: Segmentation makes the choice of distribution channels and communication channels becomes much easier. True or False_____ Answer: True   FBQ34: _____________ involves dividing buyers into different groups based on social class, life styles or personality characteristics. Answer: Psychographic segmentation FBQ35: Demographic factors are the most popular bases for segmenting customer groups. True OR False ____  Answer: True MCQ1: Marketing is the creation, development and delivery of products and services that satisfy the needs and wants of the customer, at a profit. Answer: True MCQ2: Entities that are generally marketed include (service, goods, place, person) e.t.c. Answer: True MCQ3: Service industry include the following except___________ Answer: Beverage industry MCQ4: ____________is a visual representation or logical flow of your marketing plan. Answer: Marketing framework MCQ5: Societal marketing concept believe more in the present and future wellbeing of the customers and the society. Answer: True MCQ6: Macro environment include the following except_________ Answer: Competitive environment MCQ7: Services are __________ Answer: intangibles MCQ8: Intangibility of service gives customer the ability to evaluate competing service. Answer: True MCQ9: Financial institution includes the following except______ Answer: Hotel industry MCQ10: Products of financial services industry are intangible and therefore cannot decay, deteriorate, depreciate in value or in form. Answer: True MCQ11: Less than any other financial services, banking requires, and customers expect a high degree of confidentiality and honesty on the part of the bank. Answer: False MCQ12: Market segmentation is defined as the identification and aggregation of individual consumers coming from a homogenous population into groups. Answer: False MCQ13: In mass marketing, the marketer offers one product or uses one blend of marketing mix to serve____________ Answer: The whole market MCQ14: The solution to the change in taste and buying needs can be solved through___ Answer: Differentiated product MCQ15: Target marketing according to Adirika (1993) requires ___________ major steps Answer: 4 MCQ16: Geographical segmentations also include difference in consumption patterns and preferences based on regions/zones Answer: True MCQ17: Product differentiation can be achieved by varying the features, styles, qualities, package, sizes and colours of products. Answer: True MCQ18: The first step in market segmentation is to identify the current and potential need in the market. Answer: True MCQ19: In the modern world, the __________ manufacturer starts by ascertaining what consumers want and what they are prepared to pay for it. Answer: Consumer-oriented MCQ20: Products must be________ constantly in the light of changing consumer needs and environmental development. Answer: Modified MCQ21: The marketing mix for products equally applies to services, that is, the traditional 4Ps. Answer: True MCQ22: Pricing policies are the basic philosophies on which __________ of financial services base their prices. Answer: Sellers or providers MCQ23: Creating awareness of a new service is not really necessary like new goods. Answer: False MCQ24: ________is the most widely used form of promotion in the marketing of services. Answer: Advertising MCQ25: _____ becomes very important when trying to develop a close relationship between the buyer and the seller. Answer: Personal selling MCQ26: Production is not said to be complete until goods get to the final consumers. Answer: True MCQ27: The pricing policy that sets an arbitrary price to match competitor pressure is called_____________ Answer: Competitive pricing MCQ28: ___________strategies are concerned with ensuring the prompt delivery of the services to the target market. Answer: Place MCQ29: Strategic planning is ______________ Answer: An annual planning MCQ30: Marketing plan must be________________ Answer: Comprehensive MCQ31: The unplanned life is not worth living, so says Aristotle. In the same vein, the unplanned business or enterprise is not worth undertaking. Answer: True MCQ32: The outcome of marketing planning is often__________ Answer: Market plan MCQ33: Bank's marketing plan should not necessarily include proper identification of what really motivates the customer. Answer: False MCQ34: An organization corporate mission can be wide but not be too narrow. Answer: False MCQ35: Bank deposit account are of ________ type Answer: 3