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What is the difference between features and benefits of a product?
What is the difference between features and benefits of a product?
- Features are the emotional appeal of a product, while benefits are the practical aspects.
- Features are intangible aspects of a product, while benefits are tangible characteristics.
- Features refer to what a product does and how it appears, while benefits are the reasons customers choose to buy it. (correct)
- Features are the reasons customers choose to buy a product, while benefits refer to what a product does and how it appears.
What is the value of a product mix for a business?
What is the value of a product mix for a business?
- It is the combination of products a business sells. (correct)
- It is the customer perception of the product range offered by a business.
- It is the total revenue generated from selling individual products.
- It is the profit margin from selling a variety of products.
Which of the following is a feature rather than a benefit of a product?
Which of the following is a feature rather than a benefit of a product?
- Saving time
- Increasing social status
- Reducing worry
- Open 24 hours (correct)
What does the term 'value is in the eye of the beholder' imply?
What does the term 'value is in the eye of the beholder' imply?
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What does the concept of 'creating value' emphasize in entrepreneurship?
What does the concept of 'creating value' emphasize in entrepreneurship?
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What is the term used to describe the process of making potential customers aware of a product or service?
What is the term used to describe the process of making potential customers aware of a product or service?
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Which of the following is not considered one of the 'Five P's' in a marketing plan?
Which of the following is not considered one of the 'Five P's' in a marketing plan?
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What is the key factor in defining all other strategies in a marketing plan?
What is the key factor in defining all other strategies in a marketing plan?
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What area of the marketing mix requires a balance between the price customers find reasonable and staying profitable?
What area of the marketing mix requires a balance between the price customers find reasonable and staying profitable?
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What does the term 'marketing mix' refer to?
What does the term 'marketing mix' refer to?
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