Quarter 1 Module 3: Recognize and Understand the Market Flashcards
(17 cards)
is a business or marketing statement that summarizes why a consumer should buy a company’s product or use its service.
Value Proposition (VP)
refers to how you sell your product
or services to your customer. You will address the wants and desires of your customers.
Unique Selling Proposition (USP)
What is the relationship between unique selling proposition and value proposition?
a. a framework of each business industry
b. meets your competitors needs wants
c. persuades another to exchange money for a product or service
d. connected with only one particular thing
a. a framework of each business industry
The following variables are to be considered in behavioral segmentation,
except
a. perception
b. brand concept
c. reaction
d. benefits
b. brand concept
What is the function of Value Proposition?
a. used to power up sales
b. used to convince customer to purchase a particular product or services.
c. help customers buying habits
d. provide value to your customers
b. used to convince customer to purchase a particular product or services.
Give an example in promotion using Value Proposition and Unique Selling proposition.
a. with the slogan “Langhap Sarap”
b. ordinary sari-sari store
c. multinational business
d. fruit shake stand
a. with the slogan “Langhap Sarap”
___________________ will determine possible customers in one locality.
a. Market design
b. Market strategy
c. market research
d. market size
c. market research
The term behavioral segmentation refers to:
a. divided based on consumers
b. divided in terms of how customers’ think and believe
c. divided according to geographical location
d. divided according to customers behavior pattern as they interact with a company
d. divided according to customers behavior pattern as they interact with a company
What is market size?
a. Tangible things that can be seen
b. Size of arena where the entrepreneur will play their business
c. The most important part to the success of the company
d. Another variation of segmentation marketing.
a. Tangible things that can be seen
These are considered favorable indicators for doing business in that particular location.
a. structure of the segment
b. capability of the business
c. size and growth of the segment
d. segmentation marketing
b. capability of the business
This selects the type of customer requirement
a. service requirement
b. service oriented
c. service responsibility
d. service fulfillment
b. service oriented
This refers to how you sell your products or services to your customer.
a. Value proposition
b. Unique selling proposition
c. Selling proposition
d. Marketing concept
b. Unique selling proposition
The following are tips for the entrepreneur on how to create an effective unique selling proposition to the target customers, except
a. Identify and rank the uniqueness of the product or services characteristic
b. Be very specific
c. Keep it short and simple
d. Completeness of proportion
d. Completeness of proportion
Geographic segmentation refers to:
a. Divided according to geographical location
b. Divided based consumers.
c. Divided in terms for customers think and believe
d. All of the above
a. Divided according to geographical location
Service requirement is a/an ___________________ thing or product that cannot be touched but customer can feel he fulfillment.
a. Tangible
b. Intangible
c. Service
d. Output
b. Intangible
Tangible things that can be seen refers to
a. Service requirement
b. Output requirement
c. customer requirements
d. Entrepreneur’s output
b. Output requirement
What is the first step in conducting strategic marketing?
a. Estimate the potential market
b. Estimate the customers who are probably dislike to buy your product
c. Estimate the market share
d. Estimate business funding.
a. Estimate the potential market
