LO3 Lesson 2 Customer Satisfaction Quiz

Customer retention is a company’s ability to:

• encourage customers to purchase again

• force customers to purchase again

• make customers feel content on one occasion

• make sure customers return a survey

Answer explanation

Customer retention is a company's ability to encourage customers to purchase again, not force them or make them feel content on one occasion.

Client satisfaction means:

• all expectations and needs have been met

• all expectation and needs have nearly been met

• no expectations and needs have been met

• some expectations and needs have been me

Answer explanation

Client satisfaction means all expectations and needs have been met.

Market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics.

• True

• False

Answer explanation

Market segmentation involves dividing a market into sub-groups based on shared characteristics, making the statement true.

Identify what the 4 P’s in the marketing mix represent:

• Product, Price, Place, Promotion

• Plan, Process, People, Performance

• Purpose, Position, Profit, Partnership

• Price, Product, People, Promotion

Answer explanation

The 4 P's in the marketing mix represent Product, Price, Place, and Promotion, which are essential elements in a marketing strategy.

Outline two categories commonly used in demographic market segmentation

Evaluate responses using AI:

OFF

Answer explanation

Two categories commonly used in demographic market segmentation are geographic segmentation and psychographic segmentation.

Outline two marketing communication methods

Evaluate responses using AI:

OFF

Answer explanation

Two marketing communication methods are social media marketing and email marketing.

Identify the marketing segmentation category that indicates where the consumer might live

• Demographic

• Geographic

• Psychographic

• Behavioral

Answer explanation

The correct marketing segmentation category that indicates where the consumer might live is Geographic.

Outline the advantages of healthy competition in the marketplace.

Evaluate responses using AI:

OFF

Answer explanation

Healthy competition in the marketplace leads to innovation, better quality products/services, lower prices for consumers, and overall economic growth.

Outline two types of sales promotion.

Evaluate responses using AI:

OFF

Answer explanation

Two types of sales promotion are discounts (e.g., BOGO) and contests (e.g., sweepstakes).

Which of the following are examples of marketing communication methods?

• Advertising

• Public Relations

• Direct Marketing

• Product Development

Answer explanation

The correct examples of marketing communication methods are Advertising, Public Relations, and Direct Marketing. Product Development is not a marketing communication method.