Principles of Marketing Quiz 3

Angel is studying marketing and she came across a term 'Brand Extension'. She asked Stephanie and Aisha about it. Can you help them understand what is the definition of Brand Extension?

• A strategy used by a company to market existing products under a different name

• The percentage of the total market for a product or service that is controlled by a single company.

• The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products.

• A strategy used to extend the life of a product or service giving it fresh appeal

Tyran is starting a new venture and he is planning to sell his products to other businesses. What type of business model is Tyran following?

• Business to Business, a type of transaction that occurs when one business sells a product or service to another business.

• Other companies or organizations that offer similar products or services to the same target market.

• Business to consumer, a type of transaction that occurs when a business sells a product or service to an individual consumer.

• Behind Brands Back. People selling to customers selling on eBay or amazon and making profit.

Lily, Grace, and Kyra started a lemonade stand. If the total sales of lemonade in their neighbourhood is 100 cups a day, and their lemonade stand sells 20 cups a day, what is their Market Share?

• The physical location where their lemonade stand is set up.

• The percentage of total lemonade sales in the neighborhood counted for by their lemonade stand.

• The amount of money they charge for each cup of lemonade.

• The way they communicate information about their lemonade to potential customers.

Harjot, Ranjit, and Rehan are planning a marketing campaign for their new product. They want to set SMART Objectives for their campaign. What does SMART stand for in this context?

• Staff, Marketing, Advertising, Revenue, Targets.

• Specific, Measurable, Achievable, Realistic, and Time bound objectives used to set goals in marketing.

• Strengths, Weaknesses, Opportunities and Threats.

• Sparkle, Mystics, Amazing, Randomness, Twinkles

Max, Harry, and Sharaz are discussing their roles in the economy. They are trying to define what they are when they use goods and services for their personal use. What are they defined as?

• The perceived value of a brand in the eyes of customers and potential customers.

• The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products.

• Individuals or organisations who use goods and services for business or personal use.

• The wants and needs of customers that drive them to purchase products and services.

Diana and Neve are starting a new business. They are discussing their business orientations. According to you, what does business orientations mean in their context?

• The model Neve and Diana's business follows

• How Neve and Diana's brand looks

• The images Neve and Diana use for their business

• The social media Neve and Diana use for their business

Jordan, Sonny, and Ephram are running a start-up. They decided to conduct an online survey to understand their customer's needs. What type of data are they gathering through this survey?

• False information

• AI details

• Primary data

• Secondary data

Ben, Lee and Connor are working on a research project. They are discussing the main difference between primary and secondary data. What is the main difference they should consider?

• Primary data is gathered by Isabella, Benjamin, and Thomas while secondary data is gathered by a third party

• Primary data is collected online through websites by Isabella, Benjamin, and Thomas for a specific purpose while secondary data is collected for a general purpose

• Primary data gathered by Isabella, Benjamin, and Thomas is accurate while secondary data is false

Tia, Mario, and Kieran are planning to start a business. They are considering a marketing-oriented approach. What would be the primary purpose of their business if they follow this approach?

• To increase customer loyalty

• To increase brand awareness

• To identify customer needs and gaps in the market

• To sell products to customers

Harpreet, Charlotte, and Mandeep are planning to start a business. They decide to focus on their product and sales rather than getting money from adverts or sponsors or meeting customer needs. What business model are they following?

• Product orientated

• Advertising Model

• Marketing Model

• Sales Model

• Market Orientated