Marketing Basics

What is the primary goal of marketing?

• To create a product

• To satisfy customer needs and wants

• To manage a company's finances

• To hire employees

Which of the following best defines marketing?

• The process of selling products

• The process of promoting and distributing products

• The process of creating, communicating, delivering, and exchanging offerings that have value for customers

• The process of manufacturing goods

Which element is NOT part of the traditional marketing mix (4 Ps)?

• Product

• Price

• Promotion

• People

What does the term 'market segmentation' refer to?

• Dividing a market into distinct groups of buyers with different needs or behaviours

• Combining all customers into one large group

• Setting the price of a product

• Advertising a product

Which of the following is a key component of a marketing strategy?

• Financial auditing

• Market research

• Employee training

• Product manufacturing

What is the purpose of a SWOT analysis in marketing?

• To identify strengths, weaknesses, opportunities, and threats

• To determine the price of a product

• To create advertisements

• To hire new employees

Which of the following is an example of a marketing objective?

• Increase sales by 20% in the next quarter

• Hire 10 new employees

• Reduce production costs

• Improve office facilities

What is the role of 'promotion' in the marketing mix?

• To determine the price of a product

• To inform, persuade, and remind customers about a product

• To design the product

• To distribute the product

Which of the following is NOT a method of market research?

• Surveys

• Focus groups

• Observations

• Product manufacturing

What does the term 'target market' refer to?

• The group of people a company aims to reach with its products and marketing efforts

• The total population of a country

• The employees of a company

• The suppliers of a company