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Marketing Functions: Research to Pricing

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Questions and Answers

What is the primary goal of market research and analysis?

To develop promotional strategies

To understand customer preferences and tailor products accordingly (correct)

To identify distribution channels

To determine pricing strategies

Which of the following companies uses a wide distribution network to ensure product availability?

Supermarkets

Puma Energy

Chipiku Stores (correct)

Commercial banks

What is the primary benefit of a customer-centric approach in marketing?

Increased profitability

Tailored solutions and customer support services (correct)

Competitive pricing strategies

Enhanced customer lifetime value

Which industry is characterized by intense competition between commercial banks?

Banking Signup and view all the answers

What is the primary goal of Puma Energy's loyalty program?

To foster long-term customer relationships and brand loyalty Signup and view all the answers

What is the primary focus of supermarkets in terms of customer experience?

Personalized customer experiences and loyalty incentives Signup and view all the answers

What is the primary objective of the Sales Orientation approach?

To convince customers to buy products Signup and view all the answers

What is the main focus of the Production Orientation approach?

Production efficiency and cost reduction Signup and view all the answers

What is the key characteristic of the Marketing Orientation approach?

Recognizing customer needs and wants as the driving force behind business success Signup and view all the answers

What is one of the key developments in Modern Marketing?

Digital Marketing Signup and view all the answers

What is the primary goal of Target Marketing?

To identify and target specific customer groups with tailored marketing efforts Signup and view all the answers

What is the main purpose of Market Segmentation?

To divide markets into distinct groups based on demographics, needs, or behaviors Signup and view all the answers