L3 Y1 Unit 2 Marketing Quiz

Which element of the marketing mix focuses on how a product is delivered to the customer?

• Product

• Price

• Place

• Promotion

What is the role of targeting in a marketing strategy?

• To identify the most profitable market segments

• To reduce marketing costs

• To increase product variety

• To improve customer feedback

What is the ultimate goal of creating a rationale for a marketing campaign?

• To increase brand awareness

• To justify marketing decisions

• To launch new products

• To expand market reach

What is the significance of positioning in marketing?

• To create a unique image in the customer's mind

• To lower production costs

• To increase product features

• To enhance customer loyalty

Which of the following is NOT considered as one of the four purposes of marketing?

• Anticipating demand

• Recognising demand

• Communicating demand

• Stimulating demand

Underestimating demand can lead to excess unsold inventory while overestimating demand can lead to missed sales and loss of competitive advantage

• True

• False

A customer need which is currently unfulfilled by existing services or products in the market is known as a _______

• Market gap

• Market place

• Market sense

• Market field

Recognising market demand leads to product innovation.

• True

• False

Which of these is not a strategy to stimulate demand?

• Sales promotion

• Limit supply

• Launch Exclusive products

• Market segmentation

The percentage of total sales in an industry generated by a single company is called its _________

• Market share

• Market segmentation

• Market sector

• Average sales