7 Questions
Match the following terms with their definitions:
Positioning = Refers to the place you want your brand or product to have within a particular target market Market Size = Refers to the total number of buyers or potential buyers for your product Product = Anything offered by a business for sale Price = The monetary value assigned to the sale of a product
Match the following types of customer requirements with their definitions:
Service Requirements = Intangible things that cannot be touched but can feel fulfillment Output Requirement = Tangible things that can be seen or the characteristics specifications that a consumer expects to be fulfilled in the product Customer Requirement = Certain specific expectations of product features or characteristics with expected quality Market Skimming Strategy = Sets a high introductory price where it is high to attract buyers and instantly reduces at some point to attract other layers of the market
Match the following classifications with their types:
Consumer Goods = Anything that is consumed (final consumption) by consumers for their everyday life Industrial Goods = Anything or raw materials used to create other goods Two Types of Customer Requirements = Service Requirements, Output Requirement Two Classifications of Goods = Consumer Goods, Industrial Goods
Match the pricing strategy with its description:
Penetration Strategy = Low price in introductory stage to build market share Cost - Plus Pricing = Markup added to cost for selling price Competitive Pricing = Product's price set in line with competitors Premium Pricing = Tactically pricing product higher than immediate competition
Match the distribution channel type with its description:
Direct Distribution Channel = Producer to Consumer Indirect Distribution Channel = Producers go through intermediaries to reach consumers Main Types of Intermediary = Agent, Wholesalers, Retailers, Distributors Distribution Channel = Network used to get product from manufacturer to end user
Match the promotion mix element with its description:
Advertising = Non personal promotion to promote brand awareness Direct Selling = One on one communication, effective but expensive Sales Promotion = Short term activities to encourage immediate purchase Public Relations = Management of communications to influence public perception
Match the type of media with its description:
Print Media = Printed publications like newspapers and magazines Television = Commercials, programming, and distractions Radio = Radio commercials Internet = Websites, social networks, and applications
Test your knowledge on brand positioning, positioning maps, and customer requirements in marketing. Learn about how to establish your brand within a target market and identify opportunities for new products. Explore different types of customer requirements and their impact on product development.
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