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Marketing Quiz on Untitled, created by k_logan on 06/13/2013.

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Question 1 of 28

1

What is segmentation?

Select one of the following:

  • Segmentation is the grouping of potential buyers that will respond similarly to marketing actions

  • it is the sorting of potential buyers into groups that have common needs and will respond similarly to marketing actions.

Explanation

Question 2 of 28

1

What variables are used to segment consumer markets?

Select one of the following:

  • 1. potential for increased profit
    2. simplicity and cost of segmenting a market
    3. Potential for a marketing action to reach a segment
    4.

  • Variables such as customer characteristics - demographic, psychographic and geographic - and buying characteristics - behavioural.

Explanation

Question 3 of 28

1

what are the conditions that are required for a segment to be effective or desirable?

Select one of the following:

  • 1. potential for increased profit
    2. potential for a marketing action to reach a segment
    3. simplicity and cost of segmenting a market

  • 1. potential for increased profit
    2. similarity of needs amongst potential buyers
    3. difference of needs among segments
    4. potential of a marketing action to reach a segment.
    5. simplicity and cost of assignment potential buyers to segments.

Explanation

Question 4 of 28

1

What is targeting?

Select one of the following:

  • Targeting, in reference with marketing, is when an organisation aims their promotional mix towards a certain target market.

  • is when an organisation directs its marketing program towards a specific group of potential buyers.

Explanation

Question 5 of 28

1

What is positioning?

Select one of the following:

  • Positioning, in reference to marketing, is the space a product holds in a consumers mind on important attributes in relation to competing products.

  • it is the space a product occupies in a consumers mind on important features in relation to competing products.

Explanation

Question 6 of 28

1

what is the marketing mix?

Select one of the following:

  • it is the four P's. promotion, product, place and price.

  • it is a marketing managers controllable factors that can be taken to solve a marketing problem

Explanation

Question 7 of 28

1

Discuss, using examples, the four I's of service.

Select one of the following:

  • Intangibility - cannot be touched, held or seen
    Inconsistency - services and the people serving them change everyday
    Inseparability - the issue that people have separating the deliverer of the service from the service itself.
    Inventory - you cannot store a service.

  • all the same ---- but
    inconsistency - changes in services everyday effects the consistency of a service.

Explanation

Question 8 of 28

1

what are three ways to classify services?

Select one of the following:

  • 1.
    2. whether they are profit or non profit
    3.

  • 1. whether they are delivered by people or equipment
    2. whether they are profit or non profit
    3. whether or not they are government sponsored.

Explanation

Question 9 of 28

1

What is public relations?

Select one of the following:

  • Public relations is

  • it is a form of communication management that seeks to influence the feelings, opinions or beliefs held by people about the company, its products and its services.

Explanation

Question 10 of 28

1

what is marketing?

Select one of the following:

  • marketing is the process of developing, pricing, promoting and distributing goods, services and ideas to satisfy the needs of consumers.

  • aj;dijdfdijljaaljldaslijddsflijdsfiljdsfajil

Explanation

Question 11 of 28

1

How is Marketing and PR different?

Select one of the following:

  • They are different because marketing seeks to satisfy the needs of consumers but PR seeks to influence the beliefs, opinions and attitudes of consumers.

  • ajdljdlj

Explanation

Question 12 of 28

1

What are typical pricing objectives?

Select one of the following:

  • Typical pricing objectives are: make profit, market share, investment

  • profit, market share, unit volume, survival and social responsibility,

Explanation

Question 13 of 28

1

What are the four broad approaches to pricing?

Select one of the following:

  • Demand orientated approach
    Cost orientated approach

  • demand orientated approach
    cost orientated approach
    profit orientated approach
    competition orientated approach

Explanation

Question 14 of 28

1

What is penetration pricing?

Select one of the following:

  • it is when a product is priced low on entry into the market to attract mass customers and then once interest is sparked the price rises

  • is when you set a low initial price on a new product to appeal immediately to the mass market.

Explanation

Question 15 of 28

1

What is skimming pricing?

Select one of the following:

  • it is when you set a high initial price on a new good or service

  • is when you set the highest initial price that customers really desiring the product will pay.

Explanation

Question 16 of 28

1

What is skimming pricing?

Select one of the following:

  • it is when you set a high initial price on a new good or service

  • is when you set the highest initial price that customers really desiring the product will pay.

Explanation

Question 17 of 28

1

what is price elasticity of demand?

Select one of the following:

  • it is the responsiveness that consumer demand, and businesses have to the changes in a products price

  • is the sensitivity consumer demand and firms revenue are to changes in a products price

Explanation

Question 18 of 28

1

what is elastic demand?

Select one of the following:

  • elastic demand is when a small increase or decrease in price leads to a large decrease or increase in demand.

  • djkadljkad

Explanation

Question 19 of 28

1

What is inelastic demand?

Select one or more of the following:

  • inelastic demand is when slight changes in the price of a good or service has no real effect on the demand.

  • it is when a small increase or decrease in price does not hugely effect the demand.

Explanation

Question 20 of 28

1

What factors influence price elasticity of demand?

Select one of the following:

  • whether the consumers are aware of substitutes
    whether there is a large comparison between substitutes

  • whether consumers are aware of substitutes
    what proportion of consumer spending is devoted to the product
    is it difficult to compare choices.

Explanation

Question 21 of 28

1

What is captive product pricing?

Select one of the following:

  • the pricing of products that are to be used in conjunction with other products - generally when the secondary product is more expensive than the product itself.

  • jjj

Explanation

Question 22 of 28

1

what is loss leader pricing?

Select one of the following:

  • is when retailers price something lower than its normal price level in the hope to get attention and that people will purchase other items whilst in the store.

  • akjdsafajadlji

Explanation

Question 23 of 28

1

what are the stages in strategic and market planning - and why are they the same?

Select one of the following:

  • it is the same because advances in strategic market planning have been so great and is now so important it is shortened to 'market planning'

    It is
    planning - situation analysis, market product focus, goal setting and marketing program
    implementing and control

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Explanation

Question 24 of 28

1

give examples of the tools used for
situation analysis
BCG matrix
Four market product strategies.

Select one of the following:

  • Situation analysis - SWOT
    strengths
    weaknesses
    opportunities
    threats

    BCG matrix
    is a matrix of where a company sits in reference to competitors with the reference to question marks, dogs, cash cows and Stars

    Four market product strategies
    developing market
    developing product
    diversification
    Market penetration

  • mjkkj

Explanation

Question 25 of 28

1

What are the four market product strategies? and what do each mean?

Select one of the following:

  • market penetration - same market, same product
    developmental product
    developmental market
    diversification

  • Market development
    Product development
    Market penetration
    diversification

Explanation

Question 26 of 28

1

define product:

Select one of the following:

  • a good, service or idea that satisfies the needs of the customer

  • a good, service, or idea consisting of tangible and intangible features that satisfies a consumers needs and is received in return for money or unit of value

Explanation

Question 27 of 28

1

what are the marketing channel functions performed by intermediaries?

Select one of the following:

  • transactional functions
    logistical functions
    facilitating functions

  • dddd

Explanation

Question 28 of 28

1

what is franchising?

Select one of the following:

  • it is a contractual agreement between and organisation and an individual or firm to operate a specific type of business under an already established name with certain rules.

  • it is a contractual agreement between a parent company and an individual or firm allowing them to operate a certain type of business under an already established name and following particular rules

Explanation

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