Mastering Product Innovation and Marketing Strategies
10 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following best describes product innovation?

  • A process of developing a distinct image for a product or service
  • A process of dividing a market into subsets of consumers with common needs
  • A process of launching new or improving existing products (correct)
  • A process of creating and delivering value to customers based on their needs

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

  • Place and product
  • Price and promotion
  • Targeting and promotion
  • Segmentation and positioning (correct)

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

  • Price
  • Product
  • Positioning (correct)
  • Place

    • 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

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser