Data Anlytics Module 2: Consumer Behavior and Marketing Strategy

Which principle of consumer behaviour suggests that consumers feel the need to return a favour or reciprocate good gestures?

• Commitment

• Consensus

• Reciprocity

• Scarcity

When a brand successfully demonstrates its extensive customer satisfaction or reputation, which principle of consumer behaviour is being applied?

• Authority

• Liking

• Scarcity

• Consensus

Which principle of consumer behaviour is based on the idea that people are influenced by experts or authorities?

• Commitment

• Authority

• Liking

• Scarcity

According to consumer behaviour principles, which principle explains that people are more influenced by others who are similar to them?

• Authority

• Commitment

• Liking

• Scarcity

What does the principle of scarcity in consumer behaviour suggest?

• People need things they cannot have

• People prefer to follow experts

• People reciprocate favours

• People commit to brands they like

In developing a marketing strategy, which element involves recognizing the most engaging segments and preparing marketing activities accordingly?

• Segmentation

• Promotional Tactics

• Targeting and Positioning

• Monitoring, Assessment, and Evaluation

Which of the following is NOT one of the 4 Ps of Marketing Strategy?

• Product

• Promotion

• Place

• People

What does the "Place" in the 4 Ps of Marketing Strategy refer to?

• The price of the product

• The location where products are sold

• The product being offered

• The promotional tactics used

Which element of marketing strategy involves evaluating how well a strategy is performing and whether desired outcomes are achieved?

• Segmentation

• Monitoring, Assessment, and Evaluation

• Targeting and Positioning

• Promotional Tactics

The element of marketing strategy that deals with categorizing customers based on shared interests or requirements is called:

• Targeting and Positioning

• Segmentation

• Promotional Tactics

• Monitoring, Assessment, and Evaluation