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1. Which of the following best describes marketing?
a) Selling goods and services
b) Identifying customer needs and creating value
c) Advertising and promotion only
d) Setting the lowest price possible
b) Identifying customer needs and creating value
Marketing is about understanding customer needs and creating value, not just selling
or advertising.
2. The “Four Ps” of marketing include product, price, place, and:
a) Promotion
b) People
c) Performance
d) Planning
a) Promotion
The Four Ps of the marketing mix are product, price, place, and promotion.
3. Market segmentation divides a market into groups based on:
a) Cost
b) Similar needs and characteristics
c) Company profits
d) Random selection
b) Similar needs and characteristics
Segmentation identifies groups with shared traits to target them effectively.
4. A company’s mission statement should primarily:
a) List products and services offered
b) Define purpose and direction
c) Focus on profit maximization
d) Outline competitors’ weaknesses
, b) Define purpose and direction
Mission statements communicate organizational purpose and guide decisions.
5. Which of the following is an example of psychographic segmentation?
a) Income level
b) Lifestyle
c) Age
d) Geographic region
b) Lifestyle
Psychographic segmentation focuses on attitudes, values, and lifestyles.
6. The main goal of a SWOT analysis is to:
a) Determine pricing strategy
b) Evaluate internal and external factors
c) Design promotional campaigns
d) Identify competitors only
b) Evaluate internal and external factors
SWOT identifies strengths, weaknesses, opportunities, and threats.
7. Which pricing strategy sets a low initial price to gain market share quickly?
a) Penetration pricing
b) Skimming pricing
c) Prestige pricing
d) Bundle pricing
a) Penetration pricing
Penetration pricing attracts customers by offering a low entry price.
8. In the product life cycle, sales typically peak during the:
a) Introduction stage
b) Growth stage
c) Maturity stage
d) Decline stage
c) Maturity stage
During maturity, sales peak before eventually declining.
9. Which promotional strategy relies on personal selling and trade promotions directed
at intermediaries?
a) Push strategy
b) Pull strategy
c) Mass marketing
d) Niche marketing
a) Push strategy
Push strategies “push” products through the distribution channel via intermediaries.
, 10. A “pull” promotional strategy primarily targets:
a) Wholesalers
b) Retailers
c) Final consumers
d) Salespeople
c) Final consumers
Pull strategies create demand at the consumer level to “pull” products through.
11. Which of the following best represents a convenience product?
a) Designer handbag
b) Shampoo
c) Laptop computer
d) Car insurance
b) Shampoo
Convenience products are purchased frequently with minimal effort.
12. Which type of research collects data directly from participants through surveys or
interviews?
a) Secondary research
b) Experimental research
c) Primary research
d) Observational research
c) Primary research
Primary research involves gathering new data directly from sources.
13. Which pricing strategy involves setting prices similar to competitors?
a) Value-based pricing
b) Competitive parity pricing
c) Skimming pricing
d) Psychological pricing
b) Competitive parity pricing
Competitive pricing aligns prices with competitors’ rates.
14. Which term refers to a brand’s overall financial value?
a) Brand loyalty
b) Brand recognition
c) Brand equity
d) Brand awareness
c) Brand equity
Brand equity is the value derived from brand strength and perception.
15. The marketing concept emphasizes:
a) Profit through high sales volume