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Marketing Management
LATEST EXAM READINESS
GUIDE
Q&S
©2024/2025
,1. Which of the following best explains the concept of
"Customer Lifetime Value" (CLV) in marketing
management?
A) A temporary increase in sales due to a marketing
promotion.
B) The total revenue expected from a customer over the
entire period of their relationship with a company.
C) The current value of a single transaction made by a
customer.
D) The cost associated with acquiring a new customer.
Correct Answer : B
Rationale : Customer Lifetime Value (CLV) is crucial in
marketing as it helps firms make informed decisions
regarding customer acquisition and retention strategies by
focusing on long-term profitability.
2. Which pricing strategy is characterized by setting a high
price initially and then lowering it over time?
A) Penetration Pricing
B) Skimming Pricing
C) Premium Pricing
©2024/2025
, D) Economy Pricing
Correct Answer : B
Rationale : Skimming pricing allows companies to
maximize profits from segments willing to pay a higher price
before targeting more price-sensitive consumers.
3. In a SWOT analysis, which of the following is
considered a 'weakness'?
A) An emerging market
B) Strong brand recognition
C) Dependence on a single supplier
D) High customer satisfaction
Correct Answer : C
Rationale : Dependence on a single supplier can be a
weakness because it poses a risk to supply chain stability,
which could affect business operations.
### Fill-in-the-Blank Questions
4. The term _______ refers to customizing a product or
service to meet the needs of a specific market segment.
Correct Answer : Market Segmentation
Rationale : Market segmentation allows businesses to
©2024/2025
Marketing Management
LATEST EXAM READINESS
GUIDE
Q&S
©2024/2025
,1. Which of the following best explains the concept of
"Customer Lifetime Value" (CLV) in marketing
management?
A) A temporary increase in sales due to a marketing
promotion.
B) The total revenue expected from a customer over the
entire period of their relationship with a company.
C) The current value of a single transaction made by a
customer.
D) The cost associated with acquiring a new customer.
Correct Answer : B
Rationale : Customer Lifetime Value (CLV) is crucial in
marketing as it helps firms make informed decisions
regarding customer acquisition and retention strategies by
focusing on long-term profitability.
2. Which pricing strategy is characterized by setting a high
price initially and then lowering it over time?
A) Penetration Pricing
B) Skimming Pricing
C) Premium Pricing
©2024/2025
, D) Economy Pricing
Correct Answer : B
Rationale : Skimming pricing allows companies to
maximize profits from segments willing to pay a higher price
before targeting more price-sensitive consumers.
3. In a SWOT analysis, which of the following is
considered a 'weakness'?
A) An emerging market
B) Strong brand recognition
C) Dependence on a single supplier
D) High customer satisfaction
Correct Answer : C
Rationale : Dependence on a single supplier can be a
weakness because it poses a risk to supply chain stability,
which could affect business operations.
### Fill-in-the-Blank Questions
4. The term _______ refers to customizing a product or
service to meet the needs of a specific market segment.
Correct Answer : Market Segmentation
Rationale : Market segmentation allows businesses to
©2024/2025
