MKT quizzes

Name common survey design pitfalls.

• Short questions, clear options, randomized order

• Leading wording, double‑barreled items, absolutes, no randomization, no attention checks.

• High sample size always fixes bias

• Open questions with neutral wording only

Answer explanation

The correct choice highlights common pitfalls like leading wording, double-barreled items, and lack of randomization, which can bias results. Other options do not accurately represent significant survey design issues.

What does SERVQUAL measure?

• Sales growth rate

• Gaps between expectations and perceptions across service dimensions.

• Brand awareness levels

• Price sensitivity over time

Answer explanation

SERVQUAL measures the gaps between customer expectations and their perceptions of service across various dimensions, helping organizations identify areas for improvement in service quality.

What is IMC?

• International Marketing Council

• In‑store Merchandising Checklist

• Integrated Marketing Communications across channels with consistent messaging.

• Inventory Management Control

Answer explanation

IMC stands for Integrated Marketing Communications, which emphasizes delivering a consistent message across various channels to enhance brand coherence and effectiveness.

Write the standard positioning sentence.

• [Brand] equals quality and price.

• For [target], [brand] is the [frame] that [POD] because [RTB].

• Buy [brand] now for a discount.

• [Brand] is the best because everyone uses it.

Answer explanation

The correct choice, 'For [target], [brand] is the [frame] that [POD] because [RTB],' is the standard positioning sentence format. It clearly defines the target audience, brand, frame of reference, point of differentiation, and reason to believe.

What are the stages of the CDMP?

• Awareness → Interest → Desire → Action

• Problem recognition → Info search → Evaluation → Purchase → Post‑purchase.

• Plan → Do → Check → Act

• Segmentation → Targeting → Positioning

Answer explanation

The correct choice outlines the stages of the Consumer Decision-Making Process (CDMP), which includes Problem recognition, Info search, Evaluation, Purchase, and Post-purchase, reflecting the journey a consumer takes.

List DENT‑PC factors.

• Design, Engagement, Negotiation, Testing, Pricing, Conversion

• Demand, Elasticity, Network, Technology, People, Cost

• Demographic, Economic, Natural, Technological, Political‑legal, Cultural.

• Discovery, Experiment, Nurture, Trade, Place, Culture

Answer explanation

The correct choice is 'Demographic, Economic, Natural, Technological, Political-legal, Cultural' as these factors are commonly used in PEST analysis, which assesses external influences on an organization.

Summarize the 4Ps.

• People, Process, Physical evidence, Partners

• Product, Price, Place, Promotion.

• Purpose, Profit, Planet, People

• Plan, Perform, Pay, Prove

Answer explanation

The 4Ps refer to Product, Price, Place, and Promotion, which are essential elements of marketing strategy. They help businesses define their offerings and how to communicate them to customers effectively.

Funnel revenue formula?

• Revenue = Traffic × AOV − Cost

• Revenue = Reach ÷ CTR × CVR

• Revenue = Reach × CTR × CVR × AOV.

• Revenue = CTR × AOV only

Answer explanation

The correct formula for funnel revenue is Revenue = Reach × CTR × CVR × AOV. This accounts for the total audience (Reach), the click-through rate (CTR), the conversion rate (CVR), and the average order value (AOV).

Define price elasticity.

• E = Price × Quantity

• E = AOV / CVR

• E = %ΔP / %ΔQ

• E = %ΔQ / %ΔP. |E| > 1 elastic; |E| < 1 inelastic.

Answer explanation

Price elasticity measures how quantity demanded (%ΔQ) responds to price changes (%ΔP). The correct formula is E = %ΔQ / %ΔP. If |E| > 1, demand is elastic; if |E| < 1, demand is inelastic.

Differentiate needs, wants, and demand.

• Needs = basic; Wants = cultural/personal; Demand = wants + purchasing power.

• Needs = price; Wants = quality; Demand = promotions

• Needs = luxury; Wants = necessities; Demand = supply

• Needs = desires; Wants = needs; Demand = cost

Answer explanation

Needs are essential for survival, wants are shaped by culture and personal preferences, and demand combines wants with the ability to pay. Thus, the correct choice accurately defines these concepts.