Unit 3 Review

Ava is starting a new online clothing store. She wants to set specific objectives for her business. Which of the following best describes why defining goals is important for Ava?

• To determine the product price

• To set specific objectives to achieve

• To analyze competitor strategies

• To design promotional materials

Michael is developing a marketing plan for his new tech startup. He is considering the various components of the marketing mix. Which of the following is NOT a component of the marketing mix that Michael should consider?

• Place

• Price

• Productivity

• Promotion

Beckham is a young entrepreneur launching a new line of sustainable fashion products. He is learning about marketing strategies to reach his target audience effectively. Why is understanding marketing strategies important for Beckham?

• To set personal goals

• To increase product price

• To reach target customers effectively

• To reduce product quality

Ivy is planning to open a new bookstore in her town. She wants to identify the target market for her business. How is a target market important for Ivy's bookstore?

• It helps in setting unrealistic goals

• It allows the business to focus its marketing efforts

• It increases production costs

• It decreases customer loyalty

Kelcy is launching a new line of organic skincare products. She is deciding between mass marketing and using market segments. Why does an entrepreneur like Kelcy need to understand mass marketing vs. segmentation?

• To increase marketing costs

• To target a broader customer base

• To identify specific customer needs

• To reduce product quality

Sara is developing a marketing plan for a new line of outdoor gear. She is considering using geographic segmentation. What is the value of geographic segmentation for Sara's marketing plan?

De'onna is a young entrepreneur who wants to start a tutoring service for high school students. She is developing her marketing plan and considering the components of the marketing mix. De'onna plans to offer her tutoring services online and in-person. Which component of the marketing mix should De'onna focus on to promote her services in different locations?

• Place

• Price

• Product

• Promotion

Mr. Williams is launching a new line of eco-friendly cleaning products. He wants to create a unique selling proposition (USP) that emphasizes the environmental benefits of his products. What should Ms. Williams consider when defining his USP?

• Highlighting the price of his products

• Focusing on the quality of his products

• Emphasizing the convenience of his products

• Communicating the environmental benefits of his products

Franc is planning to open a new restaurant specializing in vegan cuisine. He wants to identify his target market to tailor his marketing efforts. How can Franc use demographic segmentation to identify his target market?

• By analyzing the age, gender, and income of potential customers

• By studying the geographic location of potential customers

• By understanding the attitudes, interests, and opinions of potential customers

• By considering the climate and terrain of the location

Tatiyana is a social media influencer who is approached by a skincare brand to promote their new line of products. The brand claims that their products are made from natural ingredients and are cruelty-free. Which aspect of the brand's unique value proposition (UVP) should Tatiyana focus on when promoting the products to her followers?

• The price of the products

• The quality of the ingredients

• The brand's commitment to sustainability

• The availability of the products in stores