Marketing Concepts Quiz

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Which pricing model is currently the most popular?

Cost-plus pricing
Freemium (correct)
Value-based pricing
Dynamic pricing

Marketing is common sense.

False (B)

What are the three types of customer equity?

Value equity, brand equity, relationship equity

Selling is focused while marketing is focused.

internally; externally Signup and view all the answers

Match the following marketing concepts with their definitions:

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 Signup and view all the answers

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

Service (D) Signup and view all the answers

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

False (B) Signup and view all the answers

What does STP stand for in marketing?

Segmentation, Targeting, Positioning Signup and view all the answers

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

Historical sales data from unrelated markets (A) Signup and view all the answers

Segmentation bases reflect benefits sought by customers.

True (A) Signup and view all the answers

What two IMC components build long-term brand equity?

Advertising & Public Relations Signup and view all the answers

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

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

Match the following types of positioning changes in target segmentation:

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 Signup and view all the answers

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

The dimensions should not be highly correlated. (D) Signup and view all the answers

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

True (A) Signup and view all the answers

Name two characteristics of informative advertising.

Brand name and Logo Signup and view all the answers

First step of marketing and selling

Identifying human needs.

Successful marketing vs. other business processes

Can generate higher revenue growth than other business processes.