FEU Roosevelt Rodriguez: Marketing Plan

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What is the primary purpose of a marketing plan?

To reduce the cost of production

To generate leads and reach the target market (correct)

To implement a new product line

To increase the price of a product

What is the marketing mix also known as?

The 7 P’s of marketing (correct)

The 3 P’s of marketing

The 5 P’s of marketing

The 4 C’s of marketing

What is the main focus of a customer when it comes to a product or service?

What it can do for them (correct)

The price

The product features

The brand reputation

Who introduced the 4 P’s marketing mix concept?

Jerome McCarthy Signup and view all the answers

What is the purpose of a marketing plan's outreach and PR campaigns?

To generate leads and sales Signup and view all the answers

What is the marketing mix?

A selection of marketing tools Signup and view all the answers

What is the primary focus of a successful product-led marketing strategy?

Optimizing product lines Signup and view all the answers

What is the goal of creating informative content in product-led marketing?

To meet target customers' needs Signup and view all the answers

How can businesses create the impression of a higher-quality offering?

By pricing products higher than competitors Signup and view all the answers

What is the importance of being an expert on customers in product-led marketing?

To know customers' needs and communicate product value Signup and view all the answers

What is the benefit of sharing authentic customer stories in product-led marketing?

To encourage happy customers to share their experiences Signup and view all the answers

What should businesses prioritize before considering how to sell their product?

Growing a product mindset Signup and view all the answers

What is one benefit of pricing a product lower than competitors?

To break into a crowded market or attract value-conscious consumers Signup and view all the answers

When determining a pricing strategy, what should be considered?

The desired positioning of the brand and the overall marketing strategy Signup and view all the answers

Why might a company raise the price of a product after it's established?

To reflect the true value of the product Signup and view all the answers

What is the purpose of promotion in the marketing mix?

To make the public notice Signup and view all the answers

What should be considered when setting the base price of a product?

All of the above and the overall marketing strategy Signup and view all the answers

What is a potential drawback of setting a very low price?

Customers may perceive the product as low-quality Signup and view all the answers

What is the goal of focusing on customer relationship management?

To create genuine connections and inspire loyalty on a personal level Signup and view all the answers

What is important when recruiting talent for customer-facing roles?

Recruiting the best talent at all levels Signup and view all the answers

Why is packaging important for a company?

It provides a way to differentiate the brand Signup and view all the answers

What should marketers' skills be developed for?

Carrying out a marketing mix strategy Signup and view all the answers

What is the benefit of designing for differentiation in packaging?

It helps people recognize a brand at a glance Signup and view all the answers

What is the goal of developing a company culture and brand personality?

To make the brand more recognizable Signup and view all the answers

What is an effective way to provide valuable information to customers?

By including clear instructions on packaging Signup and view all the answers

What is the benefit of prioritizing processes that overlap with the customer experience?

It enables staff to focus on customers, leading to exceptional experiences Signup and view all the answers

What is an example of adding value to customers?

Providing a free, branded extra that adds value Signup and view all the answers