Chapter 12 Flashcards
What is the core function of marketing within a company?
A) To entertain employees
B) To communicate value to customers and manage customer relationships
C) To handle internal audits
D) To produce goods and services
b
How does market segmentation benefit a business?
A) It complicates the marketing strategy
B) It allows precise targeting of different customer groups based on specific needs
C) It is used to reduce the marketing budget
D) It eliminates the need for advertising
b
What is the marketing mix?
A) A blend of product, price, place, and promotion strategies
B) A financial strategy combining different investment tools
C) A human resource method for selecting the right mix of employees
D) A production technique for manufacturing
a
How do companies use the product life cycle concept?
A) To plan new product development, marketing, and expansion strategies
B) To determine employee bonuses
C) To decide when to terminate all marketing efforts
D) To train new managers
a
What role does branding play in marketing?
A) It is only about creating a logo
B) It helps establish a product’s identity and differentiates it from competitors
C) It is irrelevant in digital marketing
D) It pertains only to color schemes of products
b
How important are customer insights in marketing?
A) They are generally ignored as they complicate product development
B) They are crucial for tailoring products to meet customer needs and preferences
C) They are only important in service industries
D) They are less important than production costs
b
What is the significance of social media in modern marketing?
A) It is only used by small businesses
B) It provides a platform for engagement and direct communication with customers
C) It is mainly for sharing personal photos and stories
D) It has no role in professional marketing
b
What is a primary goal of promotional strategies?
A) To reduce the company’s visibility
B) To inform, persuade, and remind customers about the business’s products or services
C) To entertain top management
D) To archive old marketing materials
b
How does pricing influence market positioning?
A) Price has no impact on positioning
B) Appropriate pricing can position a product as a premium or a budget-friendly option
C) Pricing is solely determined by competitors
D) Lower prices always lead to higher sales
b
What is the value of a comprehensive marketing plan?
A) It is a formality that businesses complete without any real benefit
B) It guides all marketing efforts and aligns them with the business objectives
C) It is useful only for large corporations
D) It focuses mainly on internal communications
b
Which of the following is not a part of the marketing mix?
A) Price
B) Promotion
C) People
D) Place
c
Market segmentation does not typically consider:
A) Geographic factors
B) Demographic factors
C) Past purchasing behaviors
D) Corporate profit margins
d
Which is not a common objective of promotional activities?
A) Increasing short-term sales
B) Reducing the cost of goods sold
C) Building brand awareness
D) Reinforcing brand loyalty
b
Direct marketing does not typically involve:
A) Social media advertising
B) Face-to-face selling
C) Mass media campaigns
D) Personalized email communication
c
Which is not a primary consideration when setting product prices?
A) Cost of production
B) Competitor pricing strategies
C) Color of the product
D) Expected profit margins
c
