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Pricing Schools Business

Features Pricing Schools Business

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Questions and Answers

What is the purpose of STP analysis in marketing research?

To analyze the product performance

To determine the price levels in test marketing

To forecast market trends for existing products

To segment, target, and position customers in the market (correct)

Which of the following is NOT a part of the 4 Ps of marketing mix analysis?

Performance analysis (correct)

Price/pricing analysis

Product analysis

Place/placement analysis

In the context of new product development, what is the main focus of product testing?

Understanding customer perceptions (correct)

Optimizing price levels

Forecasting market trends

Evaluating promotion strategies

What is the primary objective of branding according to Aaker (1997)?

Establishing brand identity and personality (D) Signup and view all the answers

Why is pricing new products considered crucial in test marketing?

To establish optimal price levels (C) Signup and view all the answers

What aspect of consumer behavior is addressed by analyzing how potential customers perceive the value of a product?

Price elasticity (D) Signup and view all the answers

Which type of analysis focuses on determining how elastic the price of a product is in the market?

"How elastic is the price?" (B) Signup and view all the answers

What does the term 'STP' stand for in marketing research?

"Segmentation, Targeting, Positioning" (C) Signup and view all the answers

'How can a product be improved to exceed customer expectations?' primarily relates to enhancing which aspect of the product?

Features and attributes (C) Signup and view all the answers