Test Questions with Actual and
Verified Answers.
Differentiation - Answer what makes a product unique & stand out to customer above other
products
Which of these is not a responsibility of marketing? - Answer - Full-filling product shipments
Customers should be ideally at the center of the marketing process. - Answer True
According to the most recent marketing mix, how many Ps are there in total? - Answer 7 P's
Exchange - Answer A basic business function that takes place when a person or company
satisfies a need by exchanging money for products or services
Marketing - Answer the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large
Marketing Management - Answer The process of planning, organizing, implementing, and
controlling marketing activities to facilitate exchanges effectively and efficiently
Marketing Mix - Answer the building blocks that a marketer can adjust to affect the overall
marketing strategy of a product.
People - Answer encompasses the human actors who provide goods, services, and ideas to
customers.
Physical Evidence - Answer tangible elements in the place that the good or service is sold
Place - Answer a means of getting the product to the consumer
,Price - Answer the amount of money charged for a product, service or idea
Promotion - Answer the means of communicating with the customer
Consider a candy bar sold in a vending machine. The vending machine would represent which of
the P's of the marketing mix? - Answer - Place
A restaurants decor would be considered which of the 7 P's? - Answer - Physical Evidence
Marketing Concept - Answer a management orientation that focuses on identifying and
satisfying consumer needs to ensure the organization's long-term profitability
Selling Concept - Answer the tendency to focus on
selling current products and services to customers
How do the selling concept and the marketing concept differ? - Answer The marketing
concept focuses on creating a product around demand. The
selling concept focuses on creating demand around a product.
The 4 P's of marketing - Answer Product, Price, Place, Promotion
The 7 P's of marketing - Answer product, price, place, promotion, people, physical
environment, process
Examples of Prices - Answer -Luxury pricing
- BOGO
Frequent customer discounts
- Odd Pricing
- Bundle pricing
- Volume discounts
, True or false: the marketing mix framework shows that promotion is not all that marketing is -
Answer True
Why are relationships important in marketing? - Answer a. All of these are reasons why
relationships are important in marketing
i. Happy customers will readily advocate for their favorite brands through
word-of-mouth marketing
ii. Happy customers are willing to pay more for solutions from the brands they love
iii. Happy customers are more immune to competing offers
True or false: marketing research is used when marketers need insights into customer
needs, product preferences, buying behavior, satisfaction, and many other things and the data is
not readily available. - Answer True
The research question, when referred to in marketing research, is the___. - Answer Primary
goal of the market research
Which of the questions below is NOT a valuable research question? - Answer a. All of these
are valuable research questions
i. How likely are our customers to recommend our solutions
ii. How do customers rate our solutions against competing solutions
iii. Which new product ideas would customers most likely purchase
iv. What criteria do customers use when making purchase decision
Exploratory research is useful when__. - Answer Marketers have many broad research
questions and need to narrow them down into more precise questions