stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
marketing Flashcards | StudBud
Explore
/
marketing
marketing
10 terms
·
StudBud Administration
Imported from external platform
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
How might a company’s pricing strategy be influenced by its market position?
Premium pricing always attracts more customers
Established brands command higher prices than new entrants
Pricing is unrelated to market position
All companies charge the same prices regardless of position
2
What is the relationship between market segmentation and the development of a unique selling proposition (USP)?
Segmentation eliminates the need for a USP
Segmentation informs USP development by identifying unique customer needs
A strong USP makes segmentation unnecessary
They are unrelated concepts
3
Explain one way a company might try to improve its market share
Increasing prices
Focusing solely on existing customers
Ignoring competitor activity
Launching a new product appealing to a specific target market
4
What is the core goal of marketing?
Maximizing profits at all costs
Identifying, anticipating, and meeting customer needs and wants.
Creating the most innovative product
Dominating the market share
5
A company using a product-oriented approach would primarily focus on:
Adjusting prices based on market demand
Analyzing customer feedback
Developing high-quality products with advanced features
Conducting extensive market research
6
A company with a strong USP is likely to experience:
Reduced marketing expenses
Greater brand loyalty and higher profit margins
Lower production costs
Increased competition
7
How can a company use market research to identify potential threats and opportunities?
Market research has no predictive value
Threats and opportunities are unrelated to market research
Market research provides insights into changing consumer preferences
Only large companies need market research
8
Which marketing orientation is most likely to involve extensive market research before developing a new product?
Market Orientation
Product Orientation
Sales Orientation
Production Orientation
9
How does effective market segmentation impact a company’s marketing budget?
It eliminates the need for a marketing budget
It has no effect on budget allocation
It always increases marketing costs
Focuses resources on key customer groups
10
A company wants to increase brand awareness. What marketing strategies could they employ?
Reduce marketing budgets
Lower prices
Advertising and content marketing
