MIDTERMS Flashcards
(26 cards)
Which of the following is NOT a core marketing principle?
a. Discovering and satisfying customer needs
b. Creating value for customers
c. Focusing only on product features
d. Influencing all business decisions
c. Focusing only on product features
What is the primary goal of the marketing process?
a. To create value for customers and capture value from them
b. To develop as many products as possible
c. To focus solely on social media marketing
d. To reduce company costs
a. To create value for customers and capture value from them
Which market orientation assumes that consumers favour products that are widely available and affordable?
a. Product concept
b. Marketing concept
c. Production concept
d. Societal marketing concept
c. Production concept
Which of the following best describes the selling concept?
a. Focus on customer needs and delivering value
b. Continuous product improvements
c. Large-scale promotion and sales efforts
d. Considering consumers’ long-term interests
c. Large-scale promotion and sales efforts
What is the main focus of the societal marketing concept?
a. Maximizing company profits
b. Considering both consumer and societal well-being
c. Emphasizing aggressive sales techniques
d. Ignoring long-term sustainability
b. Considering both consumer and societal well-being
Which of the following is NOT part of the 5 Core Customer & Marketplace Concepts?
a. Value = Benefit - Cost’, ‘E < PP = S (perceived performance exceeding expectations)
b. Marketing starts with features, not value creation
c. Marketing does not create needs but promotes solutions
b. Marketing starts with features, not value creation
Which factor is NOT part of the marketing environment?
a. Microenvironment
b. Macroenvironment
c. Technological forces
d. Employee preferences
d. Employee preferences
Which segmentation method is most challenging to implement?
a. Geographic segmentation
b. Demographic segmentation
c. Psychographic segmentation
d. Behavioral segmentation
c. Psychographic segmentation
Which of the following is an example of brand extension?
a. Apple launching a new version of the iPhone
b. Starbucks introducing a new coffee flavor
c. Nike introducing a new line of sportswear
d. Coca-Cola launching Diet Coke
c. Nike introducing a new line of sportswear
What is the purpose of the BCG Matrix?
a. To evaluate a company’s product portfolio
b. To identify customers’ needs and wants
c. To develop new promotional strategies
d. To measure the effectiveness of advertisements
a. To evaluate a company’s product portfolio
Which type of market segmentation divides the market based on occasions, benefits sought, and user status?
a. Geographic segmentation
b. Demographic segmentation
c. Behavioral segmentation
d. Psychographic segmentation
c. Behavioral segmentation
Which of the following is an example of direct marketing?
a. Advertising on television
b. Sending promotional emails to customers
c. Publishing a print advertisement
d. Sponsoring an event
b. Sending promotional emails to customers
What is a unique selling proposition (USP)?
a. A statement that defines the company’s mission
b. A characteristic that makes a product stand out from competitors
c. A pricing strategy to attract customers
d. A market segmentation approach
b. A characteristic that makes a product stand out from competitors
Which pricing strategy involves setting a high initial price and then gradually lowering it over time?
a. Penetration pricing
b. Market skimming pricing
c. Cost-plus pricing
d. Psychological pricing
b. Market skimming pricing
Which type of consumer buying behavior involves low involvement and few differences between brands?
a. Complex buying behavior
b. Dissonance-reducing buying behavior
c. Variety-seeking buying behavior
d. Habitual buying behavior
d. Habitual buying behavior
Which distribution strategy is used when a company gives exclusive rights to distribute its products to only one or a few retailers in a particular area?
a. Selective distribution
b. Intensive distribution
c. Exclusive distribution
d. Indirect distribution
c. Exclusive distribution
What is an example of a psychological pricing strategy?
a. Setting a product price at $9.99 instead of $10.00
b. Reducing prices significantly to penetrate the market
c. Using a price skimming approach
d. Setting a price based on production costs
a. Setting a product price at $9.99 instead of $10.00
What is an advantage of niche marketing?
a. It allows a company to target a large, diverse audience
b. It focuses on meeting the specific needs of a smaller market segment
c. It reduces the need for market research
d. It requires minimal investment in branding
b. It focuses on meeting the specific needs of a smaller market segment
Which of the following is NOT an element of brand equity?
a. Brand awareness
b. Brand loyalty
c. Brand equity valuation
d. Perceived quality
c. Brand equity valuation
Which of the following is an example of a loss leader pricing strategy?
a. A supermarket selling milk at a very low price to attract customers
b. A luxury brand setting premium prices
c. A technology company charging a high price initially and lowering it later
d. A discount store using price bundling
a. A supermarket selling milk at a very low price to attract customers
Which of the following is NOT a benefit of market segmentation?
a. More effective targeting
b. Higher overall sales
c. Less competition
d. Better resource allocation
c. Less competition
Which of the following is an example of brand positioning?
a. Apple marketing itself as a premium technology brand
b. Nike launching a new shoe model
c. McDonald’s offering a discount promotion
d. A company changing its logo
a. Apple marketing itself as a premium technology brand
What is the primary purpose of corporate social responsibility (CSR) in marketing?
a. To reduce company costs
b. To enhance brand image and societal impact
c. To increase prices for customers
d. To minimise advertising expenses
b. To enhance brand image and societal impact
Which marketing strategy focuses on maintaining strong customer relationships over time?
a. Product-oriented strategy
b. Transactional marketing
c. Relationship marketing
d. Mass marketing
c. Relationship marketing
