Marketing

Which of the following best describes market segmentation?

• Dividing a large market into a smaller sub-market
• Selling goods for less than their production cost to maximise sales
• Maintaining long-term ties with customers to encourage repeat sales
• Identifying the consumer groups most likely to buy a business's products

Which of the following best describes a target market?

• Close competitors of a business
• The people who buy a business's products
• Groups that do not buy a business's products
• The individuals at whom a business's marketing strategies are aimed

Define Promotion.

• Any from of communication a business or organisation uses to inform, persuade, or remind.

• The number of different product lines a manufactures or sells

• The process of creating, growing, and manufacturing

Setting and communicating the value of products and services. Setting the cost at the right level.

• Price
• Place
• Promotion
• Product

THE 4 P's - product, place, promotion, price

• Branding

• Promotional mix

• Target marketing

• Marketing mix

Harley Davidson Motor Cycles stresses the quality of their machines and the image Harley’s create in the minds of their target market. This demonstrates a marketing focus on

• Product
• Place
• Price
• Promotion

What is the purpose of product differentiation?

• To simplify pricing
• To target mass markets
• To minimise prodution
• To target individual market segments

Packaging is an example of which of the following marketing strategies?

• Price
• Product
• Place
• Promotion

Which of the following statements most completely defines the term 'marketing'?

• Marketing is the distribution of goods and services from the wholesaler to the retailer so that they are available when the customer wants them.
• Marketing is a total system of interacting activities designed to plan, price, promote and distribute goods and services to present and potential customers.
• Marketing includes all those activities involved in the production and promotion of goods and services to the end customer.
• Marketing is any set of activities undertaken to produce and promote a range of goods and services to satisfy customers' needs.

USP stands for:

• Unique Sale Position

• Unique Sale Proposition

• Unique Selling Proposition

• Untitled Sales Promotion