Marketing Strategies: Volume and Niche Marketing
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Questions and Answers

What is the primary goal of relationship marketing?

  • To divide the market based on usage or volume of use
  • To keep individual customers over time by offering them tailored products (correct)
  • To develop products and promotions that appeal to large groups of people
  • To find small but profitable market segments and design products for them

    • Which marketing approach involves designing a unique mix of goods and services for each individual consumer?

  • Mass marketing
  • Niche marketing
  • One-to-one marketing (correct)
  • Volume or usage segmentation

    • What is the primary distinction between mass marketing and relationship marketing?

  • The distribution channels used
  • The target market size
  • The focus on individual customers versus large groups (correct)
  • The product development process

    • Which of the following is NOT a characteristic of business-to-business (B2B) markets?

    <p>Products are tailored to individual customers</p> Signup and view all the answers

    What is the primary goal of niche marketing?

    <p>To find small but profitable market segments and design products for them</p> Signup and view all the answers

    Which stage of the consumer decision-making process involves evaluating alternative products or services?

    <p>Evaluate alternatives</p> Signup and view all the answers

    What is one of the primary goals of marketing research?

    <p>To identify products consumers have used in the past</p> Signup and view all the answers

    What is the first step in the marketing research process?

    <p>Defining the problem or opportunity and determining the present situation</p> Signup and view all the answers

    Which of the following is NOT a promotional tactic?

    <p>Product development</p> Signup and view all the answers

    What is the main purpose of sales promotions?

    <p>To motivate people to buy products or services</p> Signup and view all the answers

    What is the process of gathering, analyzing, and interpreting information about markets?

    <p>Marketing research</p> Signup and view all the answers

    What is the final step in the marketing research process?

    <p>Choosing the best solution and implementing it</p> Signup and view all the answers

    What is the primary goal of test marketing a product?

    <p>To gather feedback from potential users</p> Signup and view all the answers

    Which of the following is a key consideration when setting a product's price?

    <p>Competitors' prices and production costs</p> Signup and view all the answers

    What is the primary role of intermediaries in the marketing process?

    <p>To make products available to consumers when and where they want them</p> Signup and view all the answers

    What is the term for a word, letter, or group of words that differentiates a product from competitors?

    <p>Brand name</p> Signup and view all the answers

    What is the focus of the 'For me' consumer demand?

    <p>Expecting personalized experiences</p> Signup and view all the answers

    What is the term for the four key elements that constitute a marketing program?

    <p>The marketing mix</p> Signup and view all the answers

    Which type of segmentation involves categorizing consumers based on the benefits they receive from a product?

    <p>Benefit segmentation</p> Signup and view all the answers

    What is the primary focus of geographic segmentation?

    <p>Regions and cities</p> Signup and view all the answers

    Which type of segmentation involves categorizing consumers based on their values and attitudes?

    <p>Psychographic segmentation</p> Signup and view all the answers

    What is the main goal of volume segmentation?

    <p>To determine the usage rate of a product</p> Signup and view all the answers

    Which of the following types of segmentation is most closely related to demographics?

    <p>Demographic segmentation</p> Signup and view all the answers

    What is the primary objective of customer relationship management?

    <p>To learn about customers and meet or exceed their expectations</p> Signup and view all the answers

    What does CRM aim to achieve with respect to customer expectations?

    <p>Satisfy or exceed customer expectations</p> Signup and view all the answers

    What is the underlying principle of customer relationship management?

    <p>Learning about customers to meet their needs</p> Signup and view all the answers

    What is the core focus of customer relationship management?

    <p>Learning about customers</p> Signup and view all the answers

    What is the ultimate goal of customer relationship management?

    <p>Satisfy or exceed customer expectations</p> Signup and view all the answers

    Which of the following careers in marketing involves creating and maintaining a brand's online presence?

    <p>Web design</p> Signup and view all the answers

    Which career in marketing involves analyzing data to understand consumer behavior and preferences?

    <p>Marketing research</p> Signup and view all the answers

    Which of the following careers in marketing involves developing and implementing strategies to reach target audiences?

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

    Which career in marketing involves managing the day-to-day operations of a retail store?

    <p>Retail store manager</p> Signup and view all the answers

    Which of the following careers in marketing involves building and maintaining relationships with customers and the media?

    <p>Public relations</p> Signup and view all the answers

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