Marketing Quiz

What is marketing?

• The process of manufacturing products

• All the activities carried out by a business to promote and sell its products

• The financial management of a company

• The hiring process of employees

Which of the following is an example of marketing?

• Sales promotions

• Product manufacturing

• Employee training

• Financial auditing

Why is marketing important?

• It ensures the product is manufactured correctly

• It helps in hiring the right employees

• If products are not effectively marketed, then the business is not likely to succeed

• It reduces the cost of production

What are the 5 P's of Marketing?

• Product, Price, Place, Promotion, Positioning

• Product, Price, Place, Promotion, Process

• Product, Price, Place, Promotion, Profit

• Product, Price, Place, Promotion, Packaging

What does the 'Place' in the 5 P's of Marketing refer to?

• The location of the company's headquarters

• Where you offer your product

• The design of the product packaging

• The price of the product

What is the purpose of market research?

• To identify customer needs and wants and satisfy them while making a profit

• To create advertisements for products

• To design new products

• To manage company finances

What are the two types of market research?

• Primary Research and Secondary Research

• Qualitative Research and Quantitative Research

• Field Research and Desk Research

• Experimental Research and Observational Research

Which of the following is a method of primary market research?

• Surveys

• U.S. Census Report

• Books

• Trade Magazines

Which of the following is a source for secondary market research?

• U.S. Census Report

• Surveys

• Focus Groups

• Conversations

What is the first step in the process outlined in the notes?

• Business Proposition

• Strategies and Action Plan

• Analyze the market

• Evaluation