Marketing principle quiz

Though marketers can control how they might respond to customer needs and expectations, they face the often-unpredictable reactions of customers to them.

Principles of marketing multiple choice questions kotler

There are no goods available. The message reaches lots of people fast and is more likely to be believed. If you pay a commission, how much commission will be paid per unit? Maintaining customer satisfaction is essential to sustainable success. You might first find a product in which the touchscreen would be useful, such as a phone, then determine a target price to maximize sales, identify the best place to sell it e. In an exchange one person or organisation gives up something of value e. Marketers must have a proactive strategy: They cannot sit on inventory and wait for orders because inventory storage is expensive and a lack of sales is disruptive. Completing this unit should take you approximately 5 hours. Though the dealer owns the car when it is sold, the manufacturer almost always plays a crucial role in the marketing of that car. The fact that initial customers will be early adopters of a new product affects the marketing strategy. An awareness of the cultural factors affecting a marketing strategy can make the marketing message much more effective.

New products typically cost more than existing products due to the high costs associated with production and development- this is best illustrated by technology products. Marketers need to be sensitive to the regulatory and ethical constraints that may be placed upon them by a wide range of domestic and international industry standards and the expectations of society.

Marketing mix quiz

Will the sales staff be given discretion on price, or do you want to send a uniform message that the price is locked in? There are factors outside of the company that must be taken into consideration with any marketing strategy. You might have governments and rental agencies that wish to buy fleet vehicles. Even a worldwide brand such as Coca Cola must adjust its marketing strategy for every region it enters. Identifying your target customer can be difficult, but with the proper definitions and the right research, marketers will know their customers better than they know themselves. This can take for the form of giveaways, competitions, advertising, sales, and anything else a creative manager can think of. Then, there are the end users, or dealer's customers. Some firms go to great lengths to disassociate their brands from one another, while others embrace a family of brands model. There are no goods available. There are a number of strategies for moving a product through various distribution channels. The buyer gets away without paying.

Take the car manufacturer BMW. Companies must also face social forces that challenge their success.

Marketing quiz for bba students

There are a number of strategies for moving a product through various distribution channels. These vary based on anticipated demand, actual demand, and the competition. Answer: e. Even a worldwide brand such as Coca Cola must adjust its marketing strategy for every region it enters. The message reaches lots of people fast and is more likely to be believed. Social networking sites, blogs and online reviews have made it easier and cheaper for consumers to self-publish and communicate. You would also have dealerships to whom you want to sell your cars; this is also B2B. We call these customers business-to-business B2B. All of the above. So let's now consider the concept of segmenting, targeting, and positioning STP , known as the strategic marketing formula that helps marketers identify and segment their audience, target their market, and posture their products to cultivate their desired brand position. If a new company has limited funds available for advertising campaigns, might they use public relations tactics to gain free media coverage? Finally in this unit, we will examine issues in pricing, including the costs of delivering a product, customer and societal perspectives, the impacts of competition, and ultimately the revenues a company may generate. They make sporty luxury vehicles aimed at the upper-middle and wealthy classes. There are factors outside of the company that must be taken into consideration with any marketing strategy.

This unit will focus on these decisions. The message is not wasted on people who will not buy your products anyway. Unit 5: Distribution and Promotion Once marketers have identified the right product and determined appropriate pricing, they must decide how to effectively raise awareness and distribute the product.

marketing quiz

For example, if an inventor comes to you with a new touchscreen technology, how do you sell it? All of the above. Marketers must work with supply chain managers to determine the best method to route products.

principle of marketing exam question papers

This can take for the form of giveaways, competitions, advertising, sales, and anything else a creative manager can think of. Completing this unit should take you approximately 32 hours.

marketing quiz for bba students

But who is the customer? If an exchange is based on good marketing principles, who benefits most and how?

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Marketing Principles Quiz