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WorksheetsChapter 5 -MARKET ECONOMY SYSTEM
Total questions: 20
Worksheet time: 10mins
According to the production concept, what do consumers favor?
Cheap products
Innovative features
Luxury products
High quality products
What does the product concept hold that consumers will favor?
Low cost products
High quality products
Basic features products
Outdated products
According to the selling concept, what is necessary for consumers to buy the firm's products?
Cheap products
Innovative features
Large-scale selling and promotion effort
Quality products
What does the marketing concept hold is necessary to achieve organizational goals?
Large-scale selling and promotion effort
Cheap products
Knowing the needs and wants of target markets
Innovative features
According to the societal marketing concept, what should marketing strategy deliver?
Value to customers only
Value to society only
Value to customers and society's well-being
Value to competitors
What is the main focus of the production concept?
Promotion
Quality
Affordability
Innovation
What is the main focus of the product concept?
Promotion
Innovation
Affordability
Quality
Which one doesn't include with creating the "BRAND"?
Strategy
Innovation
Advertising
Supply
What is the company gets from Societal Marketing Concept?
Profits
Satisfaction
Human Welfare
Resource
What is the main focus of the selling concept?
Affordability
Innovation
Quality
Promotion
What is the main focus of the marketing concept?
Promotion
Affordability
Quality
Innovation
What is the main focus of the societal marketing concept?
Quality
Innovation
Society's well-being
Affordability
What is the evolution of marketing concept?
A concept that only focuses on government intervention
A concept that promotes monopoly
A concept that adapts to the changing market environment
A static concept that never changes
What is the function of marketing in a market economy?
To optimize buying and selling platforms
To increase government intervention
To limit choices for consumers
To decrease competition
What is the main goal of market positioning?
To develop a measure of segment attractiveness
To develop a measure of segment attractiveness
To develop a marketing mix for each segment
To develop positioning for target segments
What is the motive of self-interest in a market economy?
To benefit the consumers
To benefit oneself
To benefit the government
To benefit the society
What are the steps in market segmentation, target, positioning?
Identify bases for segmenting the market, develop segment profiles, develop a measure of segment attractiveness
Develop a measure of segment attractiveness, select target segment, develop a marketing mix for each segment
Develop a marketing mix for each segment, develop positioning for target segments, develop a measure of segment attractiveness
Develop a measure of segment attractiveness, select target segment, develop positioning for target segments
What is the definition of market segmentation?
Selling products to the entire market without any distinction
Dividing a market into distinct groups with distinct needs, characteristics, or behavior who might require separate products or marketing mixes
Dividing a market into similar groups with similar needs, characteristics, or behavior
Dividing a market into distinct groups with similar needs, characteristics, or behavior
What are the characteristics of a market economy?
Private property, freedom of choice, self-interest, competition, system of markets and prices, unlimited government
Private property, limited choice, self-interest, competition, system of markets and prices, unlimited government
Public property, limited choice, self-interest, monopoly, government intervention
Private property, freedom of choice, self-interest, competition, system of markets and prices, limited government
Which one is the Demographic segmentation ?
