Marketing Quiz

What is the central role of marketing?

• Creating and keeping customers

• Focusing on operations and products

• Monitoring competitors

• Exceeding value offered by competitors

What is the key to achieve marketing success?

• Focusing on operations and products

• Monitoring competitors

• Exceeding value offered by competitors

• Creating and keeping customers

What is the main goal of marketing orientated companies?

• Achieving the ability to attract and retain customers

• Focusing on operations and products

• Monitoring competitors

• Exceeding value offered by competitors

What is the last stage in the marketing planning process?

• Finding out customers' current and future needs

• Achieving the ability to attract and retain customers

• Evaluation of performance

• Achieving the lowest cost position in an industry

What is the promotional mix according to Neil Bordon?

• Advertising, personal selling, sales promotions, public relations and direct marketing

• Finding out customers' current and future needs

• Evaluation of performance

• Achieving the lowest cost position in an industry

What is another term for product development?

• New products for existing markets

• Advertising, personal selling, sales promotions, public relations and direct marketing

• Evaluation of performance

• Achieving the lowest cost position in an industry

How can competitive advantage be achieved in any market?

• By focusing on operations and products

• By monitoring competitors

• By achieving the lowest cost position in an industry

• By exceeding value offered by competitors

What are the two main components for marketing measurement?

• Effectiveness of operational marketing activity and impact of marketing

• Finding out customers' current and future needs

• Evaluation of performance

• Achieving the lowest cost position in an industry

What should be done to determine whether the plan objectives have been achieved or not?

• Finding out customers' current and future needs

• Evaluating all marketing plans

• Achieving the lowest cost position in an industry

• Exceeding value offered by competitors

What does the generic strategy include?

• Differentiation, cost leadership and cost focus

• Finding out customers' current and future needs

• Evaluation of performance

• Achieving the lowest cost position in an industry