MKT 1-5 Marketing Strategies and Marketing Mix

Front

What is the purpose of marketing strategy?

Back

To connect the business to its customers

Front

What is the purpose of market research in the marketing mix?

Back

To determine the right mixture of the 4Ps

Front

What is the definition of elasticity in terms of pricing?

Back

The measure of sensitivity of demand or supply based on changes in price.

Front

According to the reading, what is the job of marketers?

Back

To conduct market research, to constantly monitor and analyze key performance indicators, and to identify what makes a product stand out.

Front

Why do marketing strategies often change?

Back

Because customers are fickle, Because of government regulations, Because of economic downturns.

Front

What is the main goal of marketing strategy?

Back

To connect the business to its customers

Front

What is a tactic in marketing?

Back

A specific procedure or action used to support strategy.

Front

Which of the following is NOT a part of the marketing mix? Place, Profit, Price, Product

Back

Profit

Front

What is the purpose of a marketing plan?

Back

To achieve company goals

Front

Which of the following is NOT a form of promotion? SEO, Product placement, Word of mouth, Product development

Back

Product development