Mastering Product Innovation and Marketing Strategies

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Which of the following best describes product innovation?

A process of launching new or improving existing products

What are the two types of marketing often incorporated in a marketing plan?

Segmentation and positioning

Which of the following is not one of the 4Ps of marketing?

Positioning

What does STP stand for in marketing?

<p>Segmentation, targeting, positioning</p> Signup and view all the answers

What does a marketing plan describe?

<p>The strategy for getting a lot of sales</p> Signup and view all the answers

Which of the following best describes segmentation in marketing?

<p>The process of dividing a market into subsets of consumers with common needs or characteristics.</p> Signup and view all the answers

What does the marketing mix consist of?

<p>Price, place, product, promotion</p> Signup and view all the answers

What is the goal of product innovation?

<p>To launch new or improve existing products.</p> Signup and view all the answers

What is the purpose of a marketing plan?

<p>To describe the strategy for getting a lot of sales.</p> Signup and view all the answers

What is the process of targeting in marketing?

<p>The process of selecting one or more market segments to pursue.</p> Signup and view all the answers

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