Quizs - Unit 3 Marketing

What is a Consumer Profile?

• A summary of a company's financial performance.

• A detailed picture of a business's consumers, showing their age, income, location, gender, and social class.

• A marketing strategy focused on social media engagement.

• An analysis of market trends and economic forecasts.

Define Intangible Attributes.

• Qualities of a product that are based on customer opinions and are difficult to measure or compare.

• Physical characteristics of a product that can be easily quantified.

• The price of a product that reflects its market value.

• The warranty and service agreements associated with a product.

What is Digital Promotion?

• Marketing and promoting products using digital platforms, primarily on the internet.

• A method of advertising through print media only.

• A strategy that focuses solely on television commercials.

• An approach that avoids the use of any technology.

Define Price/Market Skimming.

• Charging a high price for a new product with low price sensitivity due to uniqueness.

• Setting a low price to attract a large number of customers quickly.

• Increasing prices gradually as demand increases over time.

• Offering discounts to early adopters to boost initial sales.

Define Demand in marketing terms.

• The amount of a product that consumers are willing and able to buy at a specific price during a certain time period.

• The total quantity of goods available for sale in the market.

• The price at which a product is sold to consumers.

• The level of consumer interest in a product regardless of price.

Define Promotion Mix.

• The blend of promotional strategies a company uses to market its products.

• A method of pricing products to increase sales.

• A strategy for reducing production costs.

• A technique for improving customer service.

What is Competitive Pricing?

• Setting prices based on what competitors are charging.

• Setting prices based on production costs.

• Setting prices based on customer demand.

• Setting prices based on market trends.

What is Market Segmentation?

• Dividing a market into distinct customer groups with common needs and marketing different products to each group.

• A strategy to increase market share by lowering prices.

• The process of analyzing market trends to predict future sales.

• A method of promoting products through social media influencers.

What is a Brand?

• A unique name, symbol, or trademark that distinguishes a product from its competitors.

• A type of advertising strategy used to promote products.

• A legal document that protects a company's assets.

• A method of pricing products to attract customers.

What is a Product?

• Goods or services created during the production process and sold to meet customer needs.

• Items that are only tangible and cannot be services.

• Products that are only sold in physical stores.

• Any item that is advertised to consumers.