Basics of Marketing

Q1 Which of the following is the best definition of value?

A.
A technical measure of a company's selling price relative to its production costs.

B.
A measure of the mark-up charged by companies

C.
The lowest prices available to consumers

D.
The best ratio of benefits to costs available to buyers
Q.2
Which of the following is NOT usually defined as an element of the marketing mix?

A.
Products

B.
People

C.
Place

D.
Profits
Q3. A builder who has a full order book during a period of economic
prosperity and leaves his potential customers waiting for work to be
completed is most likely showing what type of business orientation?

A.
marketing orientation

B.
selling orientation

C.
production orientation

D.
societal orientation
SWOT is used at

A Corporate Level

B Business Level

C Both

D None
Geographic segmentation is about

A. Dividing consumer groups based on lifestyles

B. Dividing markets based on location

C. Understanding the benefit the product has to offer

D. Dividing consumer groups based on social status

Demography is a

A. Study of human behaviour

B. Study of consumers

C. Study of the population

D. Study of geographic areas

Lifestyle segmentation is about

A. Understanding how people live and developing products/services that

match that way of life

B. Dividing the market into distinct groups of buyers

C. Understanding what consumers like or dislike about their life

D. Developing stylish products for that segment

A reference group is

A. A group where people feel they belong to

B. A group who people refer to for advice

C. A group of people who sell you products or services

D. A group of people who have expert knowledge on marketing

A reference group is

A. A group where people feel they belong to

B. A group who people refer to for advice

C. A group of people who sell you products or services

D. A group of people who have expert knowledge on marketing

The use of Maslow's Hierarchy of needs in marketing strategy is partly based on
the premise that

A. As basic motives become satisfied, more advanced motive come into play

B. There is an obvious order to individuals purposeful behavior over time

C. All behavioral response proceeds in a specific direction

D. Basic needs must be satisfied completely in order to move to more complex

needs
E. None of the above
The process of dividing a market into distinct groups with distinct needs,
characteristics, or behavior, who might require separate marketing mixes, is called
_____.

A. target marketing

B. market segmentation

C. market positioning

D. market research
is arranging for a product to occupy a clear, distinctive, and desirable place
relative to competing products in the minds of target consumers

A. Target marketing

B. Market positioning

C. Competitive advantage

D. Market segmentation