Activity - FOMK

What is the primary purpose of marketing?

• To increase production

• To create value for customers

• To maximize costs

• To eliminate competition

What is customer value in marketing?

• The difference between customer benefits and costs

• The sum of customer benefits and costs

• The price of a product

• The revenue generated by a customer

Which factor has helped firms improve communication and understand customer needs?

• Government regulations

• Increased competition

• Traditional advertising

• New technologies

What is a total-market approach?

• Focusing on a single customer segment

• Targeting specific demographics

• Targeting all potential consumers

• Ignoring market segmentation

What is market segmentation?

• Selling products to only one customer

• Expanding the market internationally

• Reducing marketing expenses

• Dividing the market into smaller groups based on shared characteristics

Which of the following is NOT a component of the marketing mix (4Ps)?

• Product

• Price

• Promotion

• People

Which of the following is an example of a tangible product?

• Legal advice

• Airline ticket

• Laptop

• Haircut

What type of product is a haircut considered?

• Good

• Service

• Idea

• Promotion

What is an additional element included in the 7Ps of marketing?

• Packaging

• Positioning

• Process

• Profit

What does “Place” refer to in the marketing mix?

• The distribution channels used to deliver products

• The geographical location of customers

• The store layout

• The pricing strategy