What is the core concept of marketing?
a. Selling products
b. Maximizing profits
c. Customer satisfaction
d. Cost reduction
Answer: c
In the marketing mix (4 Ps), what does “Place” refer to?
a. The physical evidence of a product
b. The distribution channels and locations where products are available
c. The promotional activities of a product
d. The design and features of a product
Answer: b
Which of the following is a demographic variable commonly used in market segmentation?
a. Product usage
b. Psychographics
c. Age
d. Lifestyle
Answer: c
What is the term for a unique set of associations consumers make with a brand?
a. Brand equity
b. Brand personality
c. Brand extension
d. Brand loyalty
Answer: a
Which stage in the product life cycle is characterized by a rapid increase in sales, and competitors entering the market?
a. Introduction
b. Growth
c. Maturity
d. Decline
Answer: b
What is the purpose of a SWOT analysis in marketing?
a. To evaluate a company’s internal strengths and weaknesses and external opportunities and threats
b. To assess the effectiveness of promotional activities
c. To determine the pricing strategy for a product
d. To analyze the distribution channels
Answer: a
Which pricing strategy involves setting a high initial price and then gradually lowering it over time?
a. Penetration pricing
b. Skimming pricing
c. Discount pricing
d. Cost-plus pricing
Answer: b
What is the term for a group of individuals or organizations that have an interest in the company’s products, industry, or success?
a. Competitors
b. Stakeholders
c. Distributors
d. Retailers
Answer: b
Which promotional mix element involves non-personal communication transmitted through media such as TV, radio, and print?
a. Advertising
b. Personal selling
c. Sales promotion
d. Public relations
Answer: a
What is the process of selecting and evaluating market segments to enter called?
a. Market targeting
b. Market positioning
c. Market segmentation
d. Market differentiation
Answer: a
In the context of marketing, what does “CRM” stand for?
a. Customer Relationship Management
b. Cost Reduction Management
c. Competitive Research Metrics
d. Consumer Response Mechanism
Answer: a
What is the term for the set of all products and items a company offers for sale?
a. Product mix
b. Product assortment
c. Product line
d. Product portfolio
Answer: a
Which stage in the consumer decision-making process involves evaluating the options available and selecting the best one?
a. Problem recognition
b. Information search
c. Evaluation of alternatives
d. Purchase decision
Answer: c
What is the term for the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities?
a. Marketing control
b. Marketing planning
c. Marketing implementation
d. Marketing strategy
Answer: b
In marketing, what is the term for a specific, measurable, achievable, relevant, and time-bound marketing objective?
a. Marketing strategy
b. Marketing plan
c. Marketing goal
d. Marketing tactic
Answer: c
Which type of market segmentation is based on factors such as lifestyle, values, and personality traits?
a. Geographic segmentation
b. Demographic segmentation
c. Psychographic segmentation
d. Behavioral segmentation
Answer: c
What is the term for a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, or fall within a similar price range?
a. Product mix
b. Product assortment
c. Product line
d. Product portfolio
Answer: c
In marketing, what is the term for a company’s overall ability to deliver superior value to customers compared to its competitors?
a. Customer satisfaction
b. Competitive advantage
c. Brand equity
d. Market segmentation
Answer: b
Which stage in the product life cycle is characterized by a decline in sales and profits?
a. Introduction
b. Growth
c. Maturity
d. Decline
Answer: d
What is the term for a pricing strategy where the company sets a low initial price to quickly penetrate the market and gain a large market share?
a. Skimming pricing
b. Discount pricing
c. Cost-plus pricing
d. Penetration pricing
Answer: d
What is the term for a set of interdependent organizations involved in the process of making a product or service available for use or consumption?
a. Distribution channel
b. Supply chain
c. Retail network
d. Marketing channel
Answer: b
Which stage in the product life cycle is characterized by a slow increase in sales and the need for heavy promotions to create awareness?
a. Introduction
b. Growth
c. Maturity
d. Decline
Answer: a
In marketing, what is the term for the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behavior?
a. Market targeting
b. Market positioning
c. Market segmentation
d. Market differentiation
Answer: c
What is the term for the process of designing and producing the container or wrapper for a product?
a. Packaging
b. Labeling
c. Branding
d. Positioning
Answer: a
In the context of marketing, what does “USP” stand for?
a. Universal Sales Promotion
b. Unique Selling Proposition
c. Ultimate Service Provider
d. Unlimited Sales Potential
Answer: b
Which pricing strategy involves setting a price that covers the cost of production plus a predetermined profit margin?
a. Penetration pricing
b. Skimming pricing
c. Cost-plus pricing
d. Discount pricing
Answer: c
What is the term for a statement that summarizes the key elements of a brand and communicates its unique value to consumers?
a. Brand personality
b. Brand positioning
c. Brand extension
d. Brand promise
Answer: b
In marketing, what does the term “AIDA” represent?
a. Attention, Interest, Desire, Action
b. Awareness, Interest, Decision, Action
c. Analysis, Implementation, Development, Achievement
d. Advertising, Investment, Distribution, Analysis
Answer: a
Which promotional mix element involves activities that encourage customers to make an immediate purchase?
a. Advertising
b. Personal selling
c. Sales promotion
d. Public relations
Answer: c
What is the term for the group of customers toward whom a company directs its marketing efforts?
a. Target market
b. Niche market
c. Mass market
d. Segment market
Answer: a