Marketing 1.2

What is the primary focus of Channel Management?

• Managing customer service

• Creating promotional strategies

• Setting the price of a product

• Identifying and selecting distribution channels

Which of the following best describes a commodity?

• A luxury item with high demand

• A service provided to customers

• A unique product with no substitutes

• A good that is interchangeable among suppliers

What is the main goal of Customer Service?

• To provide individualized attention to customers

• To manage distribution channels

• To increase product prices

• To create new products

What does Marketing-Information Management involve?

• Setting prices for products

• Managing customer complaints

• Creating promotional materials

• Researching target markets and industry trends

What is the purpose of Market Planning?

• To manage product inventory

• To provide customer service

• To negotiate with suppliers

• To establish goals and strategies to attract target customers

What does Pricing refer to in marketing?

• The amount charged for a product or service

• The value of a product in the market

• The discount offered to customers

• The cost of producing a product

What is involved in Product/Service Management?

• Providing customer service

• Creating and updating products based on feedback

• Setting the price of a product

• Negotiating with distributors

What is the main objective of Promotion?

• To manage distribution channels

• To set competitive prices

• To inform potential customers about a product

• To provide customer support

What does Selling involve?

• Setting the price of a product

• Creating promotional campaigns

• Managing product inventory

• Directly communicating with customers and persuading them

What is a Target Market?

• A group of customers most likely to buy a product

• A list of potential suppliers

• A strategy for setting prices

• A type of promotional campaign