Marketing Basics
Which of the following is NOT one of the four Ps of marketing?
a) Product
b) Price
c) Promotion
d) Profit
d) Profit
Which marketing function involves gathering and analyzing customer data?
a) Promotion
b) Marketing-information management
c) Selling
d) Product/Service management
b) Marketing-information management
What is the primary purpose of a marketing plan?
a) To increase production
b) To guide marketing decisions
c) To reduce employee turnover
d) To manage inventory
b) To guide marketing decisions
Which stage of the product life cycle typically involves the highest marketing costs?
a) Introduction
b) Growth
c) Maturity
d) Decline
a) Introduction
Define “target market.”
A specific group of customers a business wants to attract
What does “customer orientation” mean?
a) Focusing on what competitors are doing
b) Focusing on what the customer wants
c) Cutting costs to improve profit
d) Promoting products aggressively
b) Focusing on what the customer wants
Channel management is also known as:
a) Promotion
b) Advertising
c) Distribution
d) Pricing
c) Distribution
Which of the following is considered primary information?
a) Industry reports
b) Government publications
c) Customer surveys
d) News articles
c) Customer surveys
A brand mark is:
a) A spoken name
b) A symbol or design
c) A trade character
d) A trademark
b) A symbol or design
What is a trademark?
Legal protection for a brand name or symbol
Which type of segmentation focuses on lifestyle and personality?
a) Demographic
b) Geographic
c) Behavioral
d) Psychographic
d) Psychographic
Which function involves determining a product’s life cycle and improvements?
a) Selling
b) Product/Service management
c) Pricing
d) Market planning
b) Product/Service management
What is qualitative data best used for?
a) Measuring numerical trends
b) Understanding customer opinions
c) Tracking website clicks
d) Calculating ROI
b) Understanding customer opinions
Which branding strategy uses one name for multiple products?
a) Individual branding
b) Family branding
c) Private branding
d) Manufacturer branding
b) Family branding
What is the difference between primary and secondary information?
Primary is collected firsthand; secondary is previously collected for another purpose
Designing products that appeal to the entire market is called:
a) Mass marketing
b) Segment marketing
c) Target marketing
d) Demographic marketing
a) Mass marketing
Promotion is important because it:
a) Helps businesses create demand and communicate value
b) Replaces the need for pricing
c) Eliminates competition
d) Only applies to new businesses
a) Helps businesses create demand and communicate value
What does the situation analysis section of a marketing plan include?
a) Target market
b) Marketing objectives
c) SWOT analysis
d) Financial projections
c) SWOT analysis
What does a product mix’s width refer to?
a) Number of product lines
b) Number of items in a line
c) Depth of each line
d) Consistency of products
a) Number of product lines
What does consistency in a product line refer to?
Similarity in function or use
Explain why segmentation is often more effective than mass marketing.
It allows businesses to target specific needs, increasing efficiency and customer satisfaction.
Without marketing, economies would:
a) Thrive through self-sufficiency
b) Suffer because producers couldn’t connect with customers
c) Stay the same
d) Have more competition
b) Suffer because producers couldn’t connect with customers
Name one advantage and one disadvantage of the experiment method.
Advantage: Tests cause and effect; Disadvantage: Can be costly.
What is the final stage of brand loyalty?
a) Brand recognition
b) Brand preference
c) Brand insistence
d) Brand awareness
c) Brand insistence
What is the societal marketing concept?
Creating products that benefit both customers and society