Marketing Vocabs and Strategy Quiz

What is the definition of Brand Equity?

• The process of defining a marketing mix in such a way as to distinguish the organization's offerings from competitors.

• A tool used for creating an organization's product or delivering a service.

• A type of advertising campaign which seeks to elicit an action from the target audience in response to communication by the marketer.

• The value that a brand has built up over time, which relates to consumer perception of the brand.

What does SWOT Analysis stand for?

• Sales, Workforce, Operations, Technology

• Strengths, Weaknesses, Opportunities, Threats

• Strategies, Wins, Objectives, Targets

• Service, Warranty, Operations, Training

What is the purpose of Direct Marketing?

• To elicit an action from the target audience in response to communication by the marketer.

• To identify and assess the Strengths, Weaknesses, Opportunities, and Threats involved in a project or a business.

• To create value for customers and build strong customer relationships.

• To distinguish the organization's offerings from competitors.

What is the Marketing Mix composed of?

• People, Process, Physical Evidence, Product

• Product, Price, Place, Promotion

• Product, Place, Promotion, Public Relations

• Price, Promotion, Publicity, Place

What is the main goal of Marketing?

• Distinguish the organization's offerings from competitors.

• Identify and assess the Strengths, Weaknesses, Opportunities, and Threats involved in a project or a business.

• Achieve maximum profit through the right product mix.

• Create value for customers and build strong customer relationships.

What is the purpose of Segmentation?

• Seeking to elicit an action from the target audience in response to communication by the marketer.

• Defining a marketing mix to distinguish the organization's offerings from competitors.

• Creating a comprehensive plan to achieve maximum profit.

• Dividing a large market into smaller groups based on different characteristics.

What is the role of Positioning in marketing?

• Defining a marketing mix in such a way as to distinguish the organization's offerings from competitors.

• Building up the value of a brand over time.

• Directing marketing efforts towards a specific group of consumers.

• Dividing a large market into smaller groups based on different characteristics.

What is the Target Market?

• The specific group of consumers towards which a company directs its marketing efforts.

• A strategic planning technique used to identify and assess project or business elements.

• The process of creating value for customers and building strong relationships.

• A type of advertising campaign seeking an action from the target audience.

What is the definition of Marketing Strategy?

• A process by which companies create value for customers and build strong customer relationships.

• An organization's strategy to combine all of its marketing goals into a comprehensive plan.

• A type of advertising campaign which seeks to elicit an action from the target audience.

• A tool used for creating an organization's product or delivering a service.

What are the Four P's of Marketing?

• Price, Promotion, Publicity, Place

• Product, Price, Place, Promotion

• Product, Place, Promotion, Public Relations

• People, Process, Physical Evidence, Product