Questions and Answers
What is market segmentation based on?
Consumer behavior
What determines brand equity?
Consumer perception
Which of the following is NOT a key activity in sales management?
Implementation
What does positioning refer to?
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What role typically plays a vital role in revenue generation and profits in a company?
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Study Notes
Market Segmentation
- Market segmentation is based on dividing a larger market into smaller groups of consumers with similar needs, characteristics, or behaviors.
Brand Equity
- Brand equity is determined by the combination of brand awareness, brand loyalty, and perceived quality, which ultimately affect the value of a brand.
Sales Management
- Key activities in sales management do not include production, as it is a function of operations management.
Positioning
- Positioning refers to the process of creating and maintaining a unique image or identity for a product, service, or brand in the minds of target customers.
Revenue Generation
- The sales team typically plays a vital role in revenue generation and profits in a company, as they are responsible for converting leads into customers and driving sales growth.
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