Marketing Quiz

What is the primary aim of marketing?

• To maximize profits

• To identify and satisfy customer needs profitably

• To reduce production costs

• To increase market share

Which of the following is NOT a reason why customer needs change?

• Changing tastes and fashions

• Changes in technology

• Changes in the economy

• The business's desire to increase profits

What is the purpose of market research?

• To reduce the cost of production

• To find out what customers want and what competitors are doing

• To set higher prices

• To design new products without customer input

Which of the following is an example of primary market research?

• Analyzing government statistics

• Reading industry reports

• Conducting a customer survey

• Reviewing sales records

What does the term 'market segmentation' mean?

• Dividing a market into distinct groups of buyers with similar needs

• Reducing the size of the market

• Targeting the entire market with one product

• Ignoring different customer groups