Directions: Read the given passage and answer the questions based on that…
2022
Directions: Read the given passage and answer the questions based on that
Marketing is all about connecting with the customer. And in today’s marketplace, customers are changing. Their needs, demands, wants, attitudes, mindsets, behavior, habits, consumption are changing. Especially given the rapid change not only in technological development and tools, but also their adoption into normal everyday life, marketing is — or needs to — change along with the times. It has been seen that the traditional consumers are more predictable a creature of habit. The new ones are more socially aware, and thus often more responsive to socially responsible consumption of goods and services. Having more information at their fingertips, many customers are much more judicious giving them more confidence — and also less inclined to blindly consume spoon-fed information from brands and companies. This means they are the new _______________ for growth. Millennials may seem like an overused term nowadays, but there is no denying the importance these customers have on the way companies do business. Keeping this in mind, brands should be more conscious and wiser in the way they interact with their clients and customers. Part of this is developing marketing that does not lose touch with customers; marketing that the customers of today can relate to. Companies’ survival will thus be contingent on better understanding this new crop of customers, as well as how the current environment — one that is largely digital in nature — factors into how these customers think, behave and consume. And thus, Marketing 4.0 was born. But you cannot talk about Marketing 4.0 without tackling what came before. Marketing 1.0 was largely productional based and the most basic, born out of the manufacturing boom in the 1950’s. But the crisis in the 70’s and 80’s created Marketing 2.0, which is also called relational marketing. Here, consumers started becoming more smarter in their spending (given the economic hardship prevalent at that time), meaning companies needed to find things customers could relate to in order to prompt a positive, beneficial response. Marketing departments now classified customers through basic profiling, and companies were beginning to understand the importance and impact of customer loyalty, engagement, and advocacy. The evolution of the old approach gave birth to Marketing 3.0, where the objective was to meet both the rational and emotional needs of customers. It’s also called the “appeal to emotion,” or “emotional marketing.” As opposed to the two previous approaches where the market was seen as product driven (Marketing 1.0), mass market with smarter customers (Marketing 2.0), Marketing 3.0 saw customers as people, instead of just segments.
Which of the following options is FALSE with respect to the data given in the passage?
Answer: C. Marketing 1.0 was born before the onset of 1950 manufacturing revolution. — ConceptIn a 'which statement is FALSE' reading item, every option is tested only against what the passage actually states. The answer is the lone statement…
- A.
Many consumers now demonstrate marked differences in their shopping style from the traditional customer.
- B.
Marketing 1.0 was based and revolved around the concept of product and production
- C.
Marketing 1.0 was born before the onset of 1950 manufacturing revolution.
- D.
Marketing 2.0 was the service that capitalized through understanding the behavior and nature of users to which the products were selling to
- E.
None of these
Attempted by 2 students.
Show answer & explanation
Correct answer: C
Concept
In a 'which statement is FALSE' reading item, every option is tested only against what the passage actually states. The answer is the lone statement whose claim contradicts, distorts, or reverses a fact in the text; faithful paraphrases of the passage are eliminated.
Application
Match each statement to the passage:
New customers are described as differing from the traditional, predictable consumer in needs, attitudes and habits — so a marked difference in shopping style is faithful to the text.
The earliest, most basic marketing phase is called 'largely productional based' — so framing it around product and production is faithful to the text.
The earliest marketing phase is said to be 'born out of the manufacturing boom in the 1950's' — i.e. it arose FROM the 1950s boom. The claim that it was born BEFORE the onset of the 1950 manufacturing change reverses this order and contradicts the passage; this is the FALSE statement.
Relational marketing (the second phase) is described as profiling customers and relating to their behaviour to prompt a beneficial response — so capitalising on user behaviour is faithful to the text.
Cross-check
Three of the statements are faithful restatements of the passage and therefore agree with it, leaving a single statement — the inverted timeline of the earliest phase — that conflicts with 'born out of the manufacturing boom in the 1950's'. Since a genuine contradiction exists, 'None of these' does not apply.