Podcast
Questions and Answers
What does the term 'product positioning' refer to?
What does the term 'product positioning' refer to?
- The process of developing entirely new products for new markets
- Consumers' perceptions of a product's attributes and quality (correct)
- The process of developing a trade dress for a new product
- A low cost market entry strategy involving multiple firms
What strategy seeks to increase sales of existing products in existing markets?
What strategy seeks to increase sales of existing products in existing markets?
- Market penetration (correct)
- Product diversification
- Market innovation
- Product development
Which statement best describes B2C digital marketing?
Which statement best describes B2C digital marketing?
- B2C digital marketing covers online sale of both services and goods
- B2C transactions constitute the majority of digital marketing activities (correct)
- B2C digital marketing enables transactions between organizations
- Service providers prefer B2B models due to limited B2C transactions
What must be stable in a foreign country to facilitate trade?
What must be stable in a foreign country to facilitate trade?
What is the primary purpose of a merchandise mart?
What is the primary purpose of a merchandise mart?
Flashcards
Product Positioning
Product Positioning
The way consumers perceive a product's qualities, uses, advantages, and disadvantages compared to competitors.
Market Penetration
Market Penetration
A strategy that focuses on increasing sales of existing products in current markets.
B2C Digital Marketing
B2C Digital Marketing
This type of digital marketing involves online transactions between businesses and individual consumers.
Stable Infrastructure
Stable Infrastructure
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Merchandise Mart
Merchandise Mart
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Study Notes
Product Positioning
- Product positioning refers to how consumers perceive a product's attributes, uses, quality, advantages, and disadvantages compared to competing brands.
Sales Strategy in Existing Markets
- Market penetration is the strategy to increase sales of existing products in existing markets.
B2C Digital Marketing
- B2C digital marketing involves online sales of services and goods, and accounts for most online marketing activity.
Marketing in Foreign Countries
- Stable infrastructure is crucial for efficient marketing in foreign countries to facilitate trade.
Merchandise Mart Purpose
- A merchandise mart is a place where buyers and sellers gather to inspect merchandise before making purchase decisions.
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Description
This quiz covers key concepts in marketing such as product positioning, sales strategies in existing markets, B2C digital marketing, and marketing in foreign countries. Additionally, it explores the purpose of merchandise marts in the buying process. Test your knowledge and understanding of these fundamental marketing principles.
