Marketing Management and Consumer Behavior Quiz
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Questions and Answers

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?

    <p>Competition and demand</p> Signup and view all the answers

    What is the role of distribution channels in marketing?

    <p>To deliver the product to the customers</p> Signup and view all the answers

    What are the different types of promotional methods in marketing?

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

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

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

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

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

    What is the importance of price in the marketing mix?

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

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