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2.2.5 Flashcards | StudBud

What are the 4 Ps of marketing?

How does product differentiation help businesses?

2.2.5

12 terms·StudBud Administration·2 plays

Test your knowledge on marketing strategies and concepts with this engaging quiz

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Questions 12

Answers

1
How does product differentiation help businesses?
It helps reduce production costs.
It guarantees lower prices.
It increases staff productivity.
It makes a product stand out.
2
What are the 4 Ps of marketing?
Price, Product, Profit, Place
Price, Product, Promotion, Place
Price, Product, Promotion, People
Price, Product, Promotion, Packaging
3
What is a benefit of market research?
It ensures the product meets customer needs.
It guarantees increased profits.
It reduces the need for advertising.
It avoids the need for product development.
4
Which element focuses on product access?
Price
Place
Promotion
Product
5
Which part of the marketing mix is packaging?
Product
Place
Promotion
Price
6
Which pricing strategy attracts customers?
Cost-plus pricing
Skimming pricing
Penetration pricing
Value-based pricing
7
Which market does a luxury car brand target?
Price-sensitive customers
High-income customers
Mass market customers
Budget-conscious customers
8
What does premium pricing target?
Mass market customers
Budget-conscious customers
High-income customers
Price-sensitive customers
9
True or false: Price affects customer purchasing habits.
False
True
10
What is an example of a promotional activity?
Advertising on social media
Changing the packaging design
Offering a product warranty
Adjusting the product price
11
True or false: Product differentiation guarantees lower prices.
True
False
12
True or false: Penetration pricing raises product prices.
True
False