Take this Quiz: Marketing Principles | Zestly

Question 1

Which of the following best describes the 'marketing concept' as opposed to the 'selling orientation'?

Accepted Answer

Identifying and satisfying customer needs better than competitors.

Question 2

What is the primary goal of market segmentation?

Accepted Answer

To divide a broad market into smaller, more manageable groups with similar needs.

Question 3

In the STP model, what does 'Positioning' refer to?

Accepted Answer

Defining how a product occupies a clear, distinctive place in the minds of target consumers.

Question 4

Which of the following are considered key components of a strong 'Customer Value Proposition'?

Answer

The lowest possible production cost.

Answer

The unique benefits the product provides to the customer.

Answer

The total number of employees in the company.

Answer

The reasons why a customer should choose this brand over competitors.

Question 5

Which of the following is a common basis for segmenting consumer markets?

Answer

Psychographic (lifestyle and values)

Answer

Demographic (age and income)

Answer

Geographic (location)

Answer

Production capacity