What is market positioning?

Product's place in consumers' minds

Market penetration involves what?

More sales to current customers

What is habitual buying behavior?

Low involvement, little brand difference

What are the four Ps?

Product, price, promotion, place

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Marketing Mayham

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Test your knowledge on the key concepts and principles of marketing for your first exam

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Questions 19

Answers

1
Demography studies what?
Natural resources
Human populations
Economic trends
Technological advances
2
What is market positioning?
Customer targeting
Product's place in consumers' minds
Product differentiation
Market segmentation
3
Business buyer behavior is simpler.
True
False
4
Market penetration involves what?
Diversification
More sales to current customers
New markets
New products
5
Stars in BCG matrix are?
High-growth, high-share
High-growth, low-share
Low-growth, low-share
Low-growth, high-share
6
What is marketing's twofold goal?
Reduce costs
Sell products
Increase profits
Attract and grow customers
7
What is a new task?
First-time purchase
Supplier evaluation
Routine reorder
Modified order
8
What is big data?
Customer feedback
Small, simple data sets
Huge, complex data sets
Market trends
9
Customer insights are based on what?
Competitor analysis
Sales data
Product reviews
Marketing information
10
Modified rebuy involves no changes.
False
True
11
What is a business portfolio?
Marketing strategy
Financial plan
Customer database
Collection of businesses
12
What is habitual buying behavior?
High involvement, significant brand difference
Low involvement, significant brand difference
High involvement, little brand difference
Low involvement, little brand difference
13
Marketing myopia focuses on what?
Products over benefits
Customers over products
Promotion over place
Value over price
14
What are the four Ps?
Product, price, promotion, place
People, process, physical evidence, price
Promotion, place, people, process
Product, people, price, place
15
Strategic planning involves what?
Adapting to opportunities
Increasing sales
Hiring new staff
Cutting costs
16
Supplier development ensures supply.
True
False
17
Microenvironment includes what?
Technological forces
Suppliers and competitors
Cultural forces
Economic forces
18
Consumer markets consist of what?
Businesses
Individuals and households
Suppliers
Intermediaries
19
What is market segmentation?
Analyzing competitors
Dividing market into groups
Creating new products
Targeting new customers

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