Marketing Strategies: Volume and Niche Marketing

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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?

Products are tailored to individual customers Signup and view all the answers

What is the primary goal of niche marketing?

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

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

Evaluate alternatives Signup and view all the answers

What is one of the primary goals of marketing research?

To identify products consumers have used in the past Signup and view all the answers

What is the first step in the marketing research process?

Defining the problem or opportunity and determining the present situation Signup and view all the answers

Which of the following is NOT a promotional tactic?

Product development Signup and view all the answers

What is the main purpose of sales promotions?

To motivate people to buy products or services Signup and view all the answers

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

Marketing research Signup and view all the answers

What is the final step in the marketing research process?

Choosing the best solution and implementing it Signup and view all the answers

What is the primary goal of test marketing a product?

To gather feedback from potential users Signup and view all the answers

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

Competitors' prices and production costs Signup and view all the answers

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

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

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

Brand name Signup and view all the answers

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

Expecting personalized experiences Signup and view all the answers

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

The marketing mix Signup and view all the answers

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

Benefit segmentation Signup and view all the answers

What is the primary focus of geographic segmentation?

Regions and cities Signup and view all the answers

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

Psychographic segmentation Signup and view all the answers

What is the main goal of volume segmentation?

To determine the usage rate of a product Signup and view all the answers

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

Demographic segmentation Signup and view all the answers

What is the primary objective of customer relationship management?

To learn about customers and meet or exceed their expectations Signup and view all the answers

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

Satisfy or exceed customer expectations Signup and view all the answers

What is the underlying principle of customer relationship management?

Learning about customers to meet their needs Signup and view all the answers

What is the core focus of customer relationship management?

Learning about customers Signup and view all the answers

What is the ultimate goal of customer relationship management?

Satisfy or exceed customer expectations Signup and view all the answers

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

Web design Signup and view all the answers

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