Q. What does the term 'target market' refer to?
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A.
The entire market for a product
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B.
A specific group of consumers a business aims to reach
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C.
The competitors in a market
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D.
The geographical area of sales
Solution
The target market refers to a specific group of consumers that a business aims to reach with its products or services.
Correct Answer:
B
— A specific group of consumers a business aims to reach
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Q. What is market segmentation?
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A.
Dividing a market into distinct groups of buyers
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B.
Creating a single marketing strategy for all customers
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C.
Analyzing competitors' market strategies
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D.
Setting prices based on market demand
Solution
Market segmentation is the process of dividing a market into distinct groups of buyers with different needs or characteristics.
Correct Answer:
A
— Dividing a market into distinct groups of buyers
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Q. What is the purpose of a brand?
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A.
To increase production costs
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B.
To differentiate products from competitors
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C.
To reduce marketing expenses
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D.
To limit customer choices
Solution
The purpose of a brand is to differentiate products from competitors and create a unique identity in the market.
Correct Answer:
B
— To differentiate products from competitors
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Q. What is the role of a marketing manager?
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A.
To oversee production processes
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B.
To manage financial accounts
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C.
To develop and implement marketing strategies
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D.
To handle customer service inquiries
Solution
The role of a marketing manager is to develop and implement marketing strategies to promote products and services effectively.
Correct Answer:
C
— To develop and implement marketing strategies
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Q. Which of the following is a characteristic of a service?
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A.
Intangible
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B.
Perishable
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C.
Inseparable
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D.
All of the above
Solution
Services are characterized by being intangible, perishable, and inseparable from their providers.
Correct Answer:
D
— All of the above
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Q. Which of the following is a digital marketing strategy?
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A.
Television advertising
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B.
Email marketing
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C.
Print advertising
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D.
Billboard advertising
Solution
Email marketing is a digital marketing strategy that involves sending promotional messages via email to potential customers.
Correct Answer:
B
— Email marketing
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Q. Which pricing strategy involves setting a low price to enter a competitive market?
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A.
Price skimming
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B.
Penetration pricing
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C.
Premium pricing
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D.
Value-based pricing
Solution
Penetration pricing involves setting a low price to attract customers and gain market share quickly.
Correct Answer:
B
— Penetration pricing
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