Marketing Strategies and Concepts Quiz
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Questions and Answers

What is the primary focus of selling compared to marketing?

  • Specifically; generally
  • Internally; externally (correct)
  • Equally; both
  • Externally; internally

    • Which of the following is NOT considered a type of value equity?

  • Price
  • Convenience
  • Quality
  • Loyalty (correct)

    • Which marketing strategy involves selling an existing product to an existing market?

  • Diversification
  • Product Development
  • Market Penetration (correct)
  • Market Development

    • What is the main characteristic of the freemium pricing model?

    <p>Free initial access with paid upgrades</p> Signup and view all the answers

    What is the term for the rate at which customers stop using a product or service?

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

    Which of the following industries is an example of a low MDI industry?

    <p>Electric vehicles</p> Signup and view all the answers

    What does the acronym STP stand for in marketing?

    <p>Segmentation, Targeting, Positioning</p> Signup and view all the answers

    Which era of marketing focuses primarily on the needs and wants of customers?

    <p>Marketing/Customer Orientation</p> Signup and view all the answers

    What is one way companies utilize segmentation maps to positively impact marketing?

    <p>Finding untapped markets</p> Signup and view all the answers

    Why is the needs/benefits approach considered the best method of segmentation?

    <p>It addresses consumer preferences directly</p> Signup and view all the answers

    Which of the following is NOT a contemporary approach to customer segmentation?

    <p>Historical sales forecasting</p> Signup and view all the answers

    What key characteristic should good segmentation bases reflect?

    <p>Benefits sought by customers</p> Signup and view all the answers

    Which is a type of positioning change in target segmentation?

    <p>Strengthening Positioning</p> Signup and view all the answers

    Which of the following is NOT a criterion for assessing target segments according to the STP process?

    <p>Historical sales data from unrelated markets</p> Signup and view all the answers

    What are the two IMC components crucial for building long-term brand equity?

    <p>Advertising and Public Relations</p> Signup and view all the answers

    What is another reason manufacturers offer trade promotions besides offloading inventory?

    <p>To persuade retailers to pass promotions to consumers</p> Signup and view all the answers

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