MARKETING

What is the marketing mix composed of?

• Price, Promotion, Place, Product

• Place, Promotion, Product, Price

• Product, Price, Place, Promotion

• Product, Price, Promotion, Place

Define the term 'target market' in marketing.

• A target market is a general group of consumers that a company aims to reach

• A target market is a specific group of consumers that a company aims to reach with its products and services through marketing efforts.

• A target market is a group of archery enthusiasts

• A target market is a specific group of consumers that a company ignores

Explain the difference between marketing and advertising.

• Marketing only involves selling products, while advertising involves promoting them

• Advertising is a subset of marketing

• Marketing is a broader concept that involves creating, communicating, delivering, and exchanging offerings that have value for customers, while advertising is a specific component of marketing that involves promoting a product or service through paid channels.

• Marketing and advertising are the same thing

What is the purpose of market research in marketing?

• To copy competitors' strategies without analysis

• To ignore industry trends and make decisions blindly

• To understand target audience, competitors, and industry trends for informed decision-making and strategy development.

• To randomly select target audience without any research

What are the 4 P's of marketing?

• Place, Product, Publicity, Packaging

• Product, Price, Place, Promotion

• Price, Promotion, Packaging, Publicity

• Product, Place, Promotion, People

What is a SWOT analysis and how is it used in marketing?

• A SWOT analysis is a strategic planning tool used to identify Strengths, Weaknesses, Opportunities, and Threats related to a business or project. In marketing, it is used to assess the internal and external factors that may impact the success of a marketing strategy.

• SWOT analysis is a financial analysis tool used to evaluate the profitability of marketing campaigns.

• A SWOT analysis is a tool used to analyze only the strengths and weaknesses of a business, excluding opportunities and threats.

• In marketing, a SWOT analysis is primarily focused on identifying customer preferences and market trends.

Describe the concept of branding in marketing.

• Branding is the same as advertising in marketing.

• Branding refers to the physical packaging of a product in marketing.

• Branding is not important in marketing strategies.

• Branding in marketing is the process of creating a unique identity for a product, service, or company to differentiate it from competitors and build customer loyalty.

What is the importance of social media in modern marketing strategies?

• Social media allows for direct interaction with customers, increases brand visibility, drives website traffic, and enables targeted advertising.

• Social media has no impact on marketing strategies

• Social media is only useful for personal use, not business

• Social media is too time-consuming and not worth the effort

What is the difference between B2B and B2C marketing?

• B2B marketing is only done online, while B2C marketing is only done offline.

• B2B marketing focuses on selling products, while B2C marketing focuses on services.

• B2B marketing targets individuals, while B2C marketing targets businesses.

• B2B marketing targets businesses, while B2C marketing targets individual consumers.

Explain the concept of market segmentation.

• Market segmentation is the process of combining all customers into one group without any differentiation.

• Market segmentation involves dividing a market into smaller segments based on demographics, psychographics, behavior, or other factors to better target and serve customers.

• Market segmentation is a strategy used only by small businesses, not applicable to larger corporations.

• Market segmentation is only based on one factor, such as age, without considering other variables.