MARKETING AND MARKET RESEARCH

What is marketing?

• A company identifying, anticipating and satisfying the needs and wants of customers
• A company advertising their products and services for sale
• A company carrying out research on customer needs
• When a company promotes itself and tries to beat a competitor

What is NOT a role of marketing department?

• To raise awareness of the product with new customers
• To identify the target market for a new product
• To help identify changes in market demand and tastes
• To ensure that the quality of products are at their highest

What is the name for when a company divides customers into different groups based on their similar wants and needs?

• Market segmentation
• Market splitting
• To help identify changes in Market focus
• Market division

What is the name for when a company divides customers into different groups based on their similar wants and needs?

• Market segmentation
• Market splitting
• To help identify changes in Market focus
• Market division

What is NOT an advantage of dividing customers into market segments?

• The company can change their pricing strategy accordingly
• The company can spend their advertising budget more prudently 
• The company can alter their product to meet their specific needs
• The company can sell to the whole mass market which should increase profits

Which target market is being described here.
Grouping customers according to where they live in the country/world

• Geographical location
• Occupation
• Gender
• Income

What is undifferentiated or mass marketing?

• One product which appeals to the whole market
• A product which appeals to a target market
• One product which is very similar to another
• A product which is at its early stage in the product life cycle

whats a customer?

• An individual that buys the product.

• A type of weather phenomenon
• A form of transportation
• A type of fruit

Which the followings are roles of marketing?

(The answer can be more than 1)

• Identifying and satisfying customer needs

• Building customer relationships

• Change the market segmentation

• Maintaining customer loyalty

The group of customers a business sells its products or services to is called...

• Loyal customer

• Customer base

• Consumer goods

• Customer goods