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Marketing research

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@ExemplaryRealism

Questions and Answers

What are the four components of the marketing research mix?

  • Purpose, People, Process, Presentation
  • Purpose, Population, Procedure, Publication (correct)
  • Problem, Population, Procedure, Product
  • Purpose, Procedure, People, Presentation

    • Which of the following is NOT true about the marketing mix?

  • It involves everything a company can control
  • It helps develop actional strategies based on research insights
  • The 4Ps include product, price, place, and promotion
  • The 4Ps follow a specific sequential process (correct)

    • Which of the following statements is correct?

  • A product includes only the physical item being sold
  • Price only reflects the cost of production
  • Place involves both where and how a product is sold (correct)
  • Promotion is the revenue-generating element in the marketing mix (correct)

    • In which stage of the product life cycle does marketing research primarily focus on competitor analysis?

    <p>Growth stage</p> Signup and view all the answers

    Which pricing strategy involves setting a high initial price for a product to maximize profits from early adopters?

    <p>Price skimming</p> Signup and view all the answers

    What is the decoy effect in pricing?

    <p>Introducing a middle option to make another choice more appealing</p> Signup and view all the answers

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