Marketing Exploration: Midterm

What is the definition of marketing?

• The process of promoting and selling products or services.

• The art of creating advertisements.

• The strategy of reducing production costs.

• The method of managing financial resources.

How do organizations create value for customers?

• By offering discounts

• By improving product quality

• By enhancing customer service

• By leveraging brand image

How can strong customer relationships be built?

• By offering discounts

• Through effective communication and fulfilling promises

• By providing high-quality products

• Through regular follow-ups

Market Research: ______ and analyzing data about target markets.

• gathering

• ignoring

• dispersing

• overlooking

Market Segmentation: dividing the market into distinct groups based on similar ______.

• preferences

• locations

• ages

• genders

Targeting: marketing to the segments that best fit ______ or service.

• product

• location

• price

• promotion

Marketing Mix (4 P’s): product, price, place, ______.

• promotion

• people

• process

• physical evidence

How does marketing aid organizations?

• By ignoring customer feedback and focusing on product development

• By responding to customer feedback, needs, and wants to align products and services with market demand

• By solely focusing on increasing sales without considering customer feedback

• By reducing marketing efforts to cut costs

How does marketing identify opportunities for growth and consumer interactions?

• By analyzing market trends and consumer behavior

• By increasing advertising budget

• By reducing product prices

• By focusing solely on existing customers

Which of the following products are sold by Apple Inc.?

• iPhone

• Galaxy

• Pixel

• Xperia