Marketing

Under the concept of “Marketing management” marketing is done keeping _______ as a focus :

• Consumer

• Supplier

• Investor

• None of the above

Explain the different types of market segmentation.

• Traditional, modern, digital, and online segmentation

• Product, price, place, and promotion segmentation

• The different types of market segmentation are demographic, geographic, psychographic, and behavioral segmentation.

• Economic, social, cultural, and political segmentation

Read the following statements Assertion(A) and Reason(R). Choose one of the correct alternatives given below-
Assertion(A)- The marketing concept strives to identify and meet the wants and requirements of customers in an efficient manner.
Reason(R)- Products are purchased based on their quality and other attributes, according to the marketing theory

• Both A and R are correct

• A is correct R is incorrect

• Both A and R are correct and R is the correct explanation of R

• Both A and R are correct and R is not the correct explanation of R

How can a company effectively implement market segmentation in its marketing strategy?

• By ignoring the differences among consumers and treating them all the same

• By targeting the entire market with a one-size-fits-all marketing approach

• By focusing solely on one specific segment and neglecting the others

• By identifying and dividing the market into distinct groups based on factors such as demographics, psychographics, behavior, and geographic location, and tailoring marketing efforts to meet the specific needs and preferences of each segment.

What are the 4Ps of marketing mix?

• Product, Price, Promotion, Place

• Product, Price, People, Process

• Profit, Price, Promotion, Place

• Product, Price, Promotion, Profit

Explain the concept of 'Place' in the marketing mix.

• Place refers to the physical location of the business

• Place refers to the distribution channels used to make the product available to the customers

• Place refers to the pricing strategy of the product

• Place refers to the promotional activities of the business

How does the marketing mix help in achieving marketing objectives?

• By creating confusion among customers

• By aligning the marketing activities with the overall marketing strategy

• By ignoring the needs and preferences of the target market

• By focusing only on product development

Ashan Ltd. is a natural and ethical firm that specialises in providing organic bathing items for men and women. The company uses plant-based elements in its goods and is the country’s leading organic brand. It not only meets the needs of its clients, but it also believes in environmental conservation as a whole. Determine the marketing management philosophy that ‘Beauty Products Ltd.’ employs.

• Social marketing concept

• Selling concept

• Production concept

• Product concept

• A small business is struggling to compete with larger companies online. What marketing tactics could they use to gain a competitive advantage?

What is the role of market research in the marketing process?