17 Questions
What does SMART stand for in the context of marketing objectives?
Specific, Measurable, Achievable, Relevant, Time-bound
What is the main focus of a Niche marketing strategy?
Focusing on a specific market segment
What stage of the product life cycle involves a rapid increase in sales and profits?
Growth
In marketing, what is a mass marketing strategy focused on?
Targeting most of the market with a product or service
Which of the following is NOT a factor determining a marketing strategy?
Customer preferences
What are marketing tactics focused on achieving?
Short-term actions to achieve marketing strategy
What does capacity utilization measure?
Potential output
What is the purpose of a product portfolio analysis?
To examine the firm's product position in terms of market share
Which of the following is not part of the marketing mix?
Promotion channel
What does the Boston matrix provide a snapshot of?
Firm's product position based on market share
Which factor influences how much to charge customers?
Terms of payment
What is a common characteristic of the growth stage in the product life cycle?
Less need for extensive promotion
In which stage of the product life cycle is profit usually gained?
Growth
What is a key challenge faced during the decline stage of the product life cycle?
Sales begin to fall
Which of the following is NOT an extension strategy used to prolong the sales of a product?
Introducing new promotional offers
What does 'capacity' refer to in terms of a product?
The maximum amount of a product a firm can produce at any given time
Which stage of the product life cycle may have positive cash flow but slowing sales?
Maturity and Saturation
Test your knowledge on marketing objectives, strategies, and tactics. Learn about SMART objectives, long-term marketing plans, and short-term actions. Explore types of marketing strategies like niche and mass marketing.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
