QUIZ 14: Promotion - Part 2 & Final Revision

Full Name:

Student ID:

Which definition best describes marketing?

• Selling and advertising

• Creating, communicating, delivering and exchanging value

• Production management

• Cost control

Market segmentation means:

• Dividing market into smaller homogeneous groups

• Selling to everyone

• Random grouping

• None

Target marketing involves:

• Selecting attractive segments

• Mass marketing

• Ignoring segmentation

• None

Positioning refers to:

• Creating distinct image in customer mind

• Lowering price

• Expanding warehouse

• None

The 4P model includes:

• Product, Price, Place, Promotion

• People, Process, Profit, Price

• Production, Packaging, Promotion, Place

• None

The stages of product life cycle are:

• Introduction, Growth, Maturity, Decline

• Random

• Growth only

• None

Cost-plus pricing equals:

• Cost + Profit

• Demand + Cost

• Competitor + Cost

• None

Value-based pricing is based on:

• Customer perceived value

• Production cost

• Competitor price

• None