MP IA1 Prep

The 5 basic marketing strategies are called the 5 P's. Another name for these strategies is ________. (SA)

• Marketing Mix
• Marketing Method
• Product Placement
• Marketing

If ___________ is the most important thing about your product, you want to make the product available in many locations that are easy to access for your customers. (SA)

• Style
• Prestige
• Convenience
• Durability

The action or business of promoting and selling products or services, including market research and advertising is known as ___________. 

• Distribution 
• Advertising
• Marketing
• Selling

Jacob is a marketer at Gamer Way Video Games. He is currently working to develop four different color versions of their latest video game console. Which of the four Marketing Mix strategies is Jacob working on?

• Product
• Place
• Price
• Promotion

If a product is difficult to find or only carried by high-end retailer, this adds to it's prestige. This always benefits your marketing message. 

• True
• False

The way you package and present your product is important. Why?

• It affects customer perception. 
• It is a good way to reinforce your marketing message. 
• It can represent your personality. 
• All of the above.

If you are shopping for electronic and see a brand you recognize with a reputation you trust, you are more likely to choose that brand instead of a product with a name you don't recognize. This is called?

• Product placement
• Brand image
• Loyalty
• Brand familiarity

Market segmenting is __________. 

• is assigning a specific team of employees to focus solely on developing marketing strategies
• only offering your product to a specific, identified group of consumers
• separating people into groups based on their characteristics, problems, needs, and desires
• allowing the consumers to choose which company they do business with

Which type of data usually saves time and money by providing fast access to more data than one person or company could realistically collect on it's own?

• Primary
• Secondary

When a customer buys a product or adds it to a cart, the site suggest other items the customer might like. The site suggest these items based on the analysis of data from purchases made by other customers. This is known as __________. 

• Data mining
• Secondary data
• Customer knowledge
• Data segmenting