Marketing Revisit

Marketing is all about the following except:

• recruiting the best sales people

• building customer relationship

• understanding the needs and wants of customers

• meeting the needs and wants of customers

Which of these is NOT a function of the marketing department?

• to find out customer requirements

• to try to forecast future demand

• to satisfy consumer demand profitably

• to produce sufficient products to meet consumer demand

Which one of the following is a way to maintain consumer loyalty?

• offer promotional prices to new consumers

• reduce product quality but keep prices high

• replace all existing brands with new brands

• establish long-term relationship with consumers

Which one of the following is NOT a marketing objective?

• raise awareness of a product

• reduce the number of workers

• increase revenue and profitability

• target a new market

Which one of the following statement is the best definition for 'niche market'?

• the amount of goods and services that customers are willing to buy

• the special feature of a product that makes it stand out from all of its competitors

• when a business aims their product at a small segment of the market to meet a customer need that is specialised

• When a business aims their product at a very large market hoping many people will buy the product

One of the claimed benefits of niche marketing is:

• it leads to high levels of output and low production costs

• marketing can be focused on a distinct part of the market

• consumer demand will always remain high

• there will be no competitors selling into the same part of the market

Which one of the following statements is true for a mass market?

• these products are usually specialised

• these products are usually sold by small businesses

• where there is a large number of sales of a product

• where there is less competition for the product

One claimed benefit of a mass market is:

• risks can be spread

• high cost of marketing

• products are not customised

• less competition

Which one of the following is a limitation of mass market?

• very high sales

• economies of scale is possible

• opportunities for business growth

• standardised products or services

One possible benefit for a business if it increases consumer loyalty is:

• the business will never have to advertise again

• it will help to maintain a market share

• consumers will buy the products of a business at any price

• competitors will not be able to achieve consumer loyalty as well