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WorksheetsMarketing Management
Total questions: 30
Worksheet time: 30mins
______ refers to classifying the product into different groups with same characteristics.
grading
branding
packaging
labeling
Long-term, forward-looking approach to planning with the fundamental goal of achieving a sustainable competitive advantage.
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Marketing
Marketing Plan
Marketing Strategy
Process of gathering, analyzing, and interpreting information about market, product, or service to be offered for sale in the market, about the past, present and potential customers for the product or service.
MARKETING PLAN
MARKET RESEARCH
MARKETING STRATEGY
PRODUCT TESTING
Asking survey questions aimed capturing needs, values, attitudes, behaviors and demographics.
ADVERTISING TESTING
BRAND AWARENESS AND REACH
MARKET SEGMENTATION
PRODUCT TESTING
Which part of the four P's pf marketing mix effects the location and transportation of the product
Product
Price
Place
Promotion
What is not part of the marketing mix ?
Place
Product
Price
Person
This is a pricing strategy recommended for products that have become obsolete:
Survival pricing
Geographic pricing
Price skimming
Fast food restaurants such as McDonalds use this pricing strategy for selling combos of burgers, fries and a beverage at a lower price than the total price of the items sold individually. This is an example of:
Discounts
Stability pricing
Price discrimination
Product-bundle pricing
A clothing store puts all its products at 50% discount, due to the change of season. This is an example of:
Survival pricing
Price discrimination
Block pricing
Promotion
The price skimming consists of setting high prices and reducing them over time to maximize the long-term profit.
True
False
Which of the following is not a type of major pricing strategies?
Customer Value-Based Pricing
Competition-Based Pricing
Cost-Based Pricing
Dynamic Pricing
The major benefit of following an undifferentiated approach is:
less competition
cost economies
greater profit
greater consumer satisfaction
broad product lines
A(n) ___________ market is characterized by a fairly narrowly defined market with a complete and distinct set of needs, and a willingness to pay a premium to meet those needs.
local
niche
individual
derived
homogeneous
The first step in market segmentation is:
the determination of segment profitability
needs-based segmentation
segment identification
the use of predetermined segment attractiveness criteria
segment positioning
A small, private college advertises that, "Students will receive a Harvard quality education for a state university tuition." This is an example of _________________ positioning.
quality/price
benefit
competitor
use/application
product category
Eliminating possibilities until one or two ideas are selected for development.
generating ideas
screening ideas
introducing the product
evaluating customer acceptance
A prototype is made and tested.
testing the product
evaluating customer acceptance
screening ideas
generating ideas
Marketers track customer responses to the product.
Evaluating customer acceptance
Developing the product
Testing the product
Testing a product proposal
The value that a brand contributes to a product in the marketplace is ....
brand awareness
brand loyalty
brand image
brand equity
Getting consumers to recognize and remember a brand is ...
brand awareness
brand equity
brand extenstion
brand loyalty
Term for a item that is intentionally priced below cost to draw people into the store
Loser Item
Sale
Discount Item
Loss Leader
