marketing quiz #1

What is "customer value"

• The absolute cost of a product

• Perceived benefits over cost

• The price of a product at a premium store
  

• A brand’s reputation

Which of the following is an example of "marketing myopia"?

• A company focuses on the features of its product, not the experience it provides

• A company claims it sells entertainment, communication, and ease of use

• Apple advertises its iPhone as a product for easier communication

• Marketing a product as solving a customer’s specific need

What is the correct definition of "marketing"?

• Selling products at the highest price

• Engaging customers and managing profitable customer relationships

• Creating the most innovative product

• Advertising a product in the most effective way

In marketing, the term "value proposition" refers to:

• The price a customer is willing to pay
  

• The amount of profit a company earns

• The perceived quality of a brand

• An innovation, service, or feature that makes a company or product attractive

Which of the following are part of the 4Ps of marketing?

• Product, Positioning, Profit, Promotion

• Price, Place, Product, Promotion

• Production, Price, Promotion, Positioning

• Product, Profit, Price, Place

What kind of customer is considered a "Barnacle"?

• A customer who is highly loyal but doesn’t make a lot of purchases

• A customer who buys regularly and is highly profitable

• A customer who is not loyal but spends a lot

• A customer who only makes one-time purchases

Which of the following best describes the "SWOT" analysis?

• Strategies, Weaknesses, Opportunities, Testing

• Sales, Weaknesses, Options, Timing

• Strengths, Weaknesses, Opportunities, Threats
  

• Strategic Wins, Opportunities, Threats

In the new product adoption process, what does "awareness" refer to?

• Trying a product for the first time

• Becoming aware of a new product without much information

• Evaluating the benefits of a product

• Fully adopting the product into one’s life

Which group of adopters is most willing to take risks and try new things?

• Early mainstream

• Laggards

• Early adopters
  

• Innovators

What is "customer equity"?

• The cost of acquiring new customers

• The value of customer loyalty programs

• The percentage of the market a company owns

• The total combined customer lifetime values of all of the company’s customers