Role/Importance of Marketing

Marketing is the process of ________________ a product or service.

• financing

• promoting

• developing

• analyzing

Successful marketing involves developing a plan that focuses on ALL EXCEPT:

• analysis of the competition

• industry and market research

• deep understanding of targeted customers

• financial goals

A company might explain to a journalist why its products are unique & the journalist might write a blog post that generates interest. This description is an example of:

• public shaming

• public relations

• advertising

• branding

Product comparison with the competition is crucial. Which is the MOST important factor to consider?

• lower price

• better quality

• important features

• All of the choices

Which of the following is NOT one of the 4 Ps?

• Packaging

• Promotion

• Price

• Place

Another name for the 4 Ps is

• Marketing concept

• Marketing mix

• Target marketing

• Marketing Schema

____________________________ refers to a company’s ability to produce a product or service at a lower cost than its competitors.

• Competition breakthrough

• Market breaking

• Cost advantage

• Differential advantage

_________________________________ is a type of competitive advantage that differentiates a company’s product or service from its competitors’.

• Differential advantage

• Cost advantage

• Competition analysis

• Consumer advantage

The product’s name, packaging, and features should differentiate it from the competition and provide benefits to customers, describes

• product

• price

• place

• promotion

The products should be made available for sale in a place where customers will notice and expect them, and where it’s convenient to purchase them describes

• product

• price

• place

• promotion