Marketing Management and Consumer Behavior Quiz

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Which of the following is NOT a component of the marketing mix?

Product

Price

Promotion

Placement (correct)

What is the importance of market segmentation?

To increase competition

To create new products

To target specific customer groups (correct)

To decrease sales

What is the concept of product life cycle?

The process of developing a new product

The life span of a product

The stages a product goes through from introduction to decline (correct)

The different types of products in the market

What are the factors affecting price in the marketing mix?

Competition and demand Signup and view all the answers

What is the role of distribution channels in marketing?

To deliver the product to the customers Signup and view all the answers

What are the different types of promotional methods in marketing?

The different types of promotional methods in marketing include advertising, personal selling, and sales promotion. Signup and view all the answers

What is the concept of market segmentation and why is it important?

Market segmentation is the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors. It is important because it helps businesses target specific customer segments and tailor their marketing strategies accordingly. Signup and view all the answers

What are the factors that affect the choice of a distribution channel?

The factors that affect the choice of a distribution channel include the nature of the product, target market characteristics, competition, and company resources. Signup and view all the answers

What is the importance of price in the marketing mix?

Price is an important element of the marketing mix as it directly affects a company's revenue and profitability. It also influences consumer perception of product value and can be used as a competitive advantage. Signup and view all the answers