Real Estate Ownership and Property

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What is the main objective of positioning research?

To identify the demographic characteristics of potential buyers
To determine the price elasticity of a product
To forecast sales based on advertising expenditure
To determine how customers perceive a brand relative to its competitors (correct)

What type of research is used to determine the likely acceptance of a product in a wider market?

Test marketing (correct)
Price elasticity testing
Sales forecasting
Segmentation research

What is the first step in the marketing research process?

Interpreting results
Defining the research purpose or objectives (correct)
Analyzing data
Collecting data

What is the purpose of price elasticity testing?

To determine how sensitive customers are to price changes (A) Signup and view all the answers

What is the focus of segmentation research?

Identifying the demographic, psychographic, and behavioral characteristics of potential buyers (D) Signup and view all the answers

What is the purpose of sales forecasting?

To determine the expected level of sales given the level of demand (A) Signup and view all the answers

What is one characteristic of service according to the concept?

Situational (B) Signup and view all the answers

Why is it difficult to measure service?

Because expectations are raised by delivering service (B) Signup and view all the answers

What makes service subjective?

Different customer expectations (A) Signup and view all the answers

Who influences the perception of service?

Both the customer and service provider (B) Signup and view all the answers

What is a customer according to the concept?

A person or organization that buys a product or service (C) Signup and view all the answers

What is the goal of identifying strategic activities for quality customer service delivery?

To provide consistent, efficient and excellent customer service delivery (B) Signup and view all the answers

What is the primary goal of penetration pricing strategy?

To increase sales and penetrate into markets (B) Signup and view all the answers

What is the key consideration in cost-plus pricing?

Any amount above unit cost (D) Signup and view all the answers

What is the basis of mark-up pricing?

A certain percentage of the selling price (C) Signup and view all the answers

What is the primary focus of competition oriented pricing?

The market demand and competition (D) Signup and view all the answers

What is the underlying principle of odd-even pricing?

That consumers perceive odd numbers as lower (D) Signup and view all the answers

What is the primary goal of promotion strategies?

To influence the target market (B) Signup and view all the answers

When did large-scale marketing activities in the world take shape?

During the industrial revolution in the latter part of the 1800s (D) Signup and view all the answers

What is the main idea behind the production concept?

Consumers will favor products that are widely available and low in cost (A) Signup and view all the answers

How many marketing concepts are mentioned in the text?

6 (A) Signup and view all the answers

What is the goal of marketing activities under a well-thought-out philosophy?

To be efficient, effective, and socially responsible (B) Signup and view all the answers

What marks the beginning of large-scale marketing activities?

The industrial revolution (C) Signup and view all the answers

What is NOT one of the marketing concepts mentioned in the text?

Digital marketing concept (B) Signup and view all the answers

What is the primary focus in the marketing concept?

Customer's wants (B) Signup and view all the answers

What is the main difference between marketing and selling?

Selling emphasizes on product, while marketing emphasizes on customer's wants (C) Signup and view all the answers

What is the most recent marketing philosophy?

Societal marketing concept (C) Signup and view all the answers

What is the primary objective of marketing activities?

To satisfy customers and fulfil social responsibility (D) Signup and view all the answers

What is the sequence of evolution in marketing activities?

Production orientation, product orientation, sales orientation, marketing orientation (A) Signup and view all the answers

What is the purpose of the 'Market simulation activity'

To experience marketing through a live simulation (C) Signup and view all the answers