Marketing Concepts Quiz
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Questions and Answers

Which pricing model is currently the most popular?

  • Cost-plus pricing
  • Freemium (correct)
  • Value-based pricing
  • Dynamic pricing
  • Marketing is common sense.

    False

    What are the three types of customer equity?

    Value equity, brand equity, relationship equity

    Selling is ______ focused while marketing is ______ focused.

    <p>internally; externally</p> Signup and view all the answers

    Match the following marketing concepts with their definitions:

    <p>Market Penetration = Selling an existing product to an existing market Freemium Model = Offering basic services for free with premium options Churn Rate = Rate at which customers stop using a product Diversification = Expanding into new markets or product lines</p> Signup and view all the answers

    Which of the following is NOT a type of value equity?

    <p>Service</p> Signup and view all the answers

    Mass marketing is still considered a viable and effective marketing practice.

    <p>False</p> Signup and view all the answers

    What does STP stand for in marketing?

    <p>Segmentation, Targeting, Positioning</p> Signup and view all the answers

    Which of the following is NOT a criterion considered when assessing and selecting target segments?

    <p>Historical sales data from unrelated markets</p> Signup and view all the answers

    Segmentation bases reflect benefits sought by customers.

    <p>True</p> Signup and view all the answers

    What two IMC components build long-term brand equity?

    <p>Advertising &amp; Public Relations</p> Signup and view all the answers

    For customer segmentation, ( ), ( ), and ( ) are contemporary approaches, but ( ) is considered the best approach.

    <p>Demographics, Psychology, Usage; Needs/Benefits</p> Signup and view all the answers

    Match the following types of positioning changes in target segmentation:

    <p>Strengthen Positioning = Enhancing the existing market position Create New Position = Establishing a new market identity Reposition = Changing the perception of the product in the market</p> Signup and view all the answers

    Which of the following statements is true regarding a good segmentation base?

    <p>The dimensions should not be highly correlated.</p> Signup and view all the answers

    The STP process includes a step where you develop a Customer Value Proposition (CVP) for the target segments.

    <p>True</p> Signup and view all the answers

    Name two characteristics of informative advertising.

    <p>Brand name and Logo</p> Signup and view all the answers

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