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Marketing Strategy and Business Planning Quiz
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Marketing Strategy and Business Planning Quiz

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@UncomplicatedSpessartine4275

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Questions and Answers

What is a target market?

  • A group of customers at which a business aims its marketing efforts (correct)
  • A subset of potential market research
  • The assessment of competitors' strengths and weaknesses
  • The total market for a product or service
  • What does competitor analysis involve?

  • Forecasting financial sales for competitors
  • Assessment of strengths and weaknesses of current and potential competitors (correct)
  • Conducting market research on competitors
  • Developing offensive and defensive marketing strategies
  • What does the 7Ps in marketing refer to?

  • The 7 primary marketing companies in the industry
  • Different elements that contribute to a comprehensive marketing strategy (correct)
  • The 7 phases of marketing research
  • The 7 most profitable marketing products
  • What is the importance of market research?

    <p>To understand customer needs and preferences</p> Signup and view all the answers

    What is a brand name?

    <p>A distinctive name and symbol to identify a product or service</p> Signup and view all the answers

    What does a target market refer to?

    <p>A group of customers within a business's serviceable available market at which a business aims its marketing efforts</p> Signup and view all the answers

    What is the 7Ps in marketing?

    <p>A framework that includes Product, Price, Place, Promotion, People, Process, and Physical evidence</p> Signup and view all the answers

    What does competitor analysis involve?

    <p>An assessment of the strengths and weaknesses of current and potential competitors</p> Signup and view all the answers

    What is the concept of marketing research and marketing plan?

    <p>Determining the concept of marketing research and marketing plan</p> Signup and view all the answers

    What does a brand name refer to?

    <p>A distinctive name and identity for a product or service</p> Signup and view all the answers

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