Marketing Analysis and Strategies

What are the key factors to consider in market segmentation?

• Technological and environmental factors

• Demographic, geographic, psychographic, and behavioral factors.

• Economic and political factors

• Cultural and historical factors

How can a company identify its strengths in a SWOT analysis?

• By comparing with competitors' weaknesses.

• By analyzing market trends and customer feedback.

• By assessing internal resources, capabilities, and competitive advantages.

• By focusing solely on financial performance metrics.

What are the four components of the marketing mix?

• Product, Price, Promotion, Partnership

• Product, Price, Place, Packaging

• Product, Price, People, Process

• Product, Price, Place, Promotion

How does PESTLE analysis help in understanding market dynamics?

• PESTLE analysis provides insights into external factors affecting market dynamics.

• PESTLE analysis focuses solely on internal company factors.

• PESTLE analysis is used to evaluate product pricing strategies.

• PESTLE analysis ignores social and technological influences.

What stages are involved in the product life cycle?

• Start, Rise, Plateau, Fade

• Introduction, Growth, Maturity, Decline

• Development, Saturation, Recession, Renewal

• Launch, Expansion, Peak, Withdrawal

How can a business leverage its weaknesses identified in a SWOT analysis?

• Ignore weaknesses and focus only on strengths.

• Deny the existence of weaknesses altogether.

• A business can turn weaknesses into strengths by improving processes, seeking collaborations, and innovating solutions.

• Maintain the status quo without any changes.

What role does pricing play in the marketing mix?

• Pricing is solely determined by production expenses.

• Pricing plays a crucial role in determining demand, profitability, and competitive positioning in the marketing mix.

• Pricing is irrelevant to customer perception.

• Pricing only affects production costs.

How can political factors in PESTLE analysis impact a business?

• Political factors are irrelevant to business strategy.

• Political factors can influence regulations, trade policies, taxation, and government stability, impacting operational costs and market access.

• Political factors only affect employee morale.

• Political factors have no impact on market trends.

What strategies can be employed during the decline stage of the product life cycle?

• Focusing solely on advertising

• Increasing production to meet demand

• Cost reduction, discontinuation of unprofitable products, targeting niche markets, harvesting for short-term profits, and revitalization through rebranding.

• Expanding into new markets aggressively

How can a company use opportunities identified in a SWOT analysis?

• Opportunities can be used to eliminate weaknesses.

• Opportunities are only relevant for marketing teams.

• Opportunities should be ignored to focus on strengths.

• A company can use opportunities from a SWOT analysis to inform strategic planning and decision-making.