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WorksheetsMarketing Test
Total questions: 28
Worksheet time: 18mins
What is customer value?
value of a consumer to businesses
the value a customer receives when they use a good or service
Delivery of value to customers at a profit
In customer value what are perceived benefits?
Product Benefits
Profit Benefits
Service Benefits
Image Benefits
Customer benefits
What is perceived sacrifice of customer value
Monetary costs
Time Costs
Energy Costs
Psychological Costs
Labour costs
Key Components of Marketing concepts?
Customer Orientation
Producer Benefits
Integrated Effort
Goal Achievement
Management process
What is the definition of marketing concept?
Something companies should do to secure effective and efficient success.
A philosophical approach for doing business
achievement of corporate goals through meeting and exceeding customers needs better than competition
A set of managerial functions which are carried out by many organisations
What are the key forms of customer value?
Price Value
Performance Value
Emotional Value
Relational Value
Relative value
What are two central functions of business as stated by Peter Drucker
Innovation
Strategies
Profits
Marketing
Costs
When was production orientation the focus of marketing concepts?
1850 - 1900
1900 - 1950
1950 - 2000+
When was Sales orientation the focus in the evolution of marketing concepts
1850 - 1900
1900 - 1950
1950 - 2000+
When was marketing orientation the focus in the evolution of marketing concepts?
1850 - 1900
1900 - 1950
1950 - 2000+
Who is business success determined by?
Producers
Marketing and advertising
Consumers
Distributors
Creators
What does the S stand for in the SWOT analysis?
Strengths
Strategy
Segmentation theory
Success
What does the W stand for in SWOT analysis?
Wealth
Weaknesses
What does the O stand for in SWOT analysis?
Outcome
Opportunities
Objectives
Orientation
What does the T stand for in SWOT analysis?
Techniques
Threats
Time
What does the marketing mix consist of?
Product
Consumer
Price
Promotion
Place
What is social marketing?
Where marketing is used to promote important societal causes
The use of social media in business
Social media as a tool for marketing and advertising products to consumers
What does a marketing plan describe?
Environment
Objective
Strategy
Staff responsibilities
Promotion
What is strategic planning?
Process which matches an organisation's resources and capabilities to its market opportunities
A plan which organisations discuss advertising methods and ways to encourage consumer purchasing
Objectives in business should use the SMART method. What does the S stand for?
Specific
Stable
Sales
Strategy
In the SMART method, what does the M stand for?
Mission
Market
Measurable
Modest
In the SMART method, what does the A stand for?
Attainable
Affordable
Achievable
Attribute
In the SMART method, what does the R stand for?
Relate
Results
Relativity
Realistic
In the SMART method, what does the T stand for?
Time frame
Threats
Technological
Team
What are the 3 components of Attitude? (ABC)
Affect
Beliefs
Behaviour
Cognition
Culture
A system in which marketing information is formally gathered, stored, analysed, and distributed to managers in accord with their information needs on a regular basis.
MkIS (Marketing Information System)
Analytical CRM
Operational CRM
Ad-Hoc
Focuses on a specific marketing problem and involves the collection of data at one point in time from one sample of respondents, such as customer satisfaction study or an attitude survey.
Ad-Hoc Research
Continuous Research
Analytical CRM
Operational CRM
Involves conducting same research on the same sample repeatedly to monitor the changes that are taking place over time. This form of research plays key role in assessing trends in the market and on of the most popular forms of continuous research is the consumer panel
MkIS (Marketing information system)
Ad-hoc research
Continuous research
Analytical CRM
