Entreneurship_15/11+22/11

What motivates today's customers to buy a product?

• The product's availability

• Discounts offered on the product

• The product’s value to the customer

• The brand name

Why must the marketers monitor the competitor's activities?

• The competitor may be violating the law to gain an advantage

• The competitor may threaten the monopoly position of the company

• The competitor may destroy the organization

• New offerings of a competitor may need alterations in one or more components of the company's marketing mix

To achieve market expansion a company must?

• Use advertising campaigns more effectively

• Use distribution channels more effectively

• Price their products more strategically

• All of the above

Which of the following best describes goods in the context of products?

• Intangible items that can't be physically touched

• Services provided by experts

• Tangible products that can be touched, smelled, heard, and seen

• Digital products only

What is about how the offering's benefits and features are communicated to the potential buyer?

• Product

• Place

• Promotion

• Price

Which one is not correct for the term "Marketing"?

• Identify consumers and convert them into buyers

• It is all about promotion

• Marketing lays the foundation for how a company reaches and serves its target customers

• Entrepreneur needs to understand marketing

In today's time marketing must be understood and developed as?

• Pushing for higher sales and profits

• Creating innovative products

• Getting the first mover’s advantage

• Creating value for the customers

What is cost-led pricing?

• The method of pricing a product based on competitor prices

• The method of pricing a product based on customer demand

• The method of pricing a product by adding a profit margin to the cost of making the product

• The method of pricing a product by considering the brand value

What is 'bundling' in the context of marketing?

• A strategy where customers pay more for buying products separately

• Offering discounts only for individual products

• A discount price set for a bundle of products to encourage bulk purchases

• Providing only one type of product to customers

What is the primary purpose of implementing a decoy pricing strategy?

• To clear old inventory

• To influence customers to choose a more profitable option

• To reduce overall prices

• To compete with other businesses