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Pricing Schools Business

Features Pricing Schools Business

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Marketing Objectives and Strategies

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Questions and Answers

What does SMART stand for in the context of marketing objectives?

Stable, Measurable, Achievable, Relevant, Timely

Specific, Measurable, Achievable, Relevant, Time-bound (correct)

Simple, Measurable, Accurate, Reliable, Targeted

Strategic, Managed, Accurate, Resourceful, Timely

What is the main focus of a Niche marketing strategy?

Targeting the entire market

Focusing on a specific market segment (correct)

Expanding to new markets aggressively

Ignoring market competition

What stage of the product life cycle involves a rapid increase in sales and profits?

Growth (correct)

Research and Development

Maturity and Saturation

Introduction

In marketing, what is a mass marketing strategy focused on?

Targeting most of the market with a product or service (B) Signup and view all the answers

Which of the following is NOT a factor determining a marketing strategy?

Customer preferences (C) Signup and view all the answers

What are marketing tactics focused on achieving?

Short-term actions to achieve marketing strategy (C) Signup and view all the answers

What does capacity utilization measure?

Potential output (B) Signup and view all the answers

What is the purpose of a product portfolio analysis?

To examine the firm's product position in terms of market share (A) Signup and view all the answers

Which of the following is not part of the marketing mix?

Promotion channel (D) Signup and view all the answers

What does the Boston matrix provide a snapshot of?

Firm's product position based on market share (D) Signup and view all the answers

Which factor influences how much to charge customers?

Terms of payment (A) Signup and view all the answers

What is a common characteristic of the growth stage in the product life cycle?

Less need for extensive promotion (B) Signup and view all the answers

In which stage of the product life cycle is profit usually gained?

Growth (B) Signup and view all the answers

What is a key challenge faced during the decline stage of the product life cycle?

Sales begin to fall (C) Signup and view all the answers

Which of the following is NOT an extension strategy used to prolong the sales of a product?

Introducing new promotional offers (B) Signup and view all the answers

What does 'capacity' refer to in terms of a product?

The maximum amount of a product a firm can produce at any given time (C) Signup and view all the answers

Which stage of the product life cycle may have positive cash flow but slowing sales?

Maturity and Saturation (A) Signup and view all the answers