Marketing Objectives and Strategy

In the Boston Matrix, which category is described as having high market share in a low growth market?

• Stars

• Cash cows

• Question marks

• Dogs

According to the passage, what should businesses avoid having too many of in their product portfolio?

• Cash cows

• Stars

• Dogs

• Question marks

What is the main purpose of balancing product lines in a business portfolio?

• To ensure all products are in the same category

• To maximize the number of dogs

• To use positive net cash flow from cash cows to support other products

• To avoid spending on promotion and development

Which of the following is NOT one of the 4 Ps of the marketing mix mentioned in the passage?

• Product

• Price

• Promotion

• Partnership

What does USP stand for in marketing terminology?

• Universal Sales Program

• Unique Selling Point

• United Service Provider

• Ultimate Strategy Plan

According to the text, what is a key characteristic of mass markets?

• They have few potential customers

• Products are highly differentiated

• There will be many products competing for customer attention

• Prices are always set at premium levels

In mass markets, what pricing strategy do businesses typically use?

• Premium pricing to maximize profits

• Similar prices across all businesses

• Charging the 'going rate' in the market

• Setting prices significantly below competitors

Which of the following is mentioned as a promotional method that businesses can use?

• Personal selling only

• Television, online advertising, newspapers and magazines

• Word of mouth exclusively

• Direct mail campaigns only

In niche markets, how do businesses typically handle promotion?

• Use mass media like TV and radio

• Focus on targeted advertising to a specific customer profile

• Rely only on word-of-mouth

• Avoid advertising altogether

What is a key characteristic of products in niche markets?

• They are identical to mass market products

• They are designed to meet very specific customer needs

• They are always the cheapest available

• They are promoted using mass marketing