What is the primary purpose of marketing?

• To increase production

• To identify and meet customer needs

• To reduce costs

• To improve employee satisfaction

Which of the following is NOT one of the four Ps of marketing?

• Product

• Price

• Promotion

• Profit

Which activity is part of the purpose of marketing?

• Conducting market research to identify customer requirements

• Increasing the number of employees

• Reducing the cost of raw materials

• Improving the quality of the workplace environment

What does the 'Place' in the marketing mix refer to?

• The location of the company's headquarters

• The most convenient place and distribution to customers

• The place where the product is manufactured

• The place where employees work

Which of the following is an example of 'Promotion' in the marketing mix?

• Setting a competitive price

• Designing a new product

• Advertising to raise awareness

• Choosing a convenient store location

How can a business benefit from repeat sales?

• By reducing production costs

• By increasing sales, market share, profits, and growth

• By improving employee morale

• By expanding into new markets

What is one of the purposes of market research?

• To increase the number of employees

• To reduce risk by understanding market trends

• To decrease the quality of products

• To increase the cost of production

Which of the following is a benefit of understanding the market through research?

• It helps in reducing the number of competitors

• It allows the business to identify a gap in the market

• It increases the cost of marketing

• It decreases customer satisfaction

What is the primary purpose of gaining customers' views and understanding their needs/wants in marketing?

• To reduce production costs

• To make decisions on products to offer, price to charge, and ways to promote

• To increase employee satisfaction

• To expand the business internationally

What is one of the advantages of primary market research?

• It is usually cheaper and quicker to access

• It is based on the current state of the market

• It can be difficult to find

• It may not be specific to the needs of the business