Which of these is NOT an example of price?

All of these are examples of price

How do the selling concept and the marketing concept differ?

MC creates products around demand - SC creates demand from products

Which of the questions below is NOT a valuable research question?

All of these are valuable research questions.

The research question, when referred to in marketing research, is the _____.

Primary goal of the market research

Exploratory research is useful when _____.

Marketers need broad research questions narrowed down into precise question

Why are relationships important in marketing?

All of these are reasons why relationships are important in marketing.

What survey asks, “How likely are you to recommend [brand] to a friend or colleague?” to measure customer experience?

NPS or Net Promoter Score Survey

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Chapter 1 & 2 - Modern Marketing Principles

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Explore the key concepts of the marketing mix and the importance of the customer in the marketing process

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Questions 16

Answers

1
Which of these is NOT an example of price?
Bundle pricing
Frequent-customer discounts
Odd pricing (.99)
All of these are examples of price
2
Pre-existing data is also known as _____.
Online data
Secondary data
Free data
Primary data
3
How do the selling concept and the marketing concept differ?
MC focuses on advertising - SC focuses on frontline employees
They are the same.
MC creates demand for a product - SC builds products around demand.
MC creates products around demand - SC creates demand from products
4
According to the most recent marketing mix, how many Ps are there in total?
4
7
6
10
5
A restaurant's decor would be considered which of the 7 Ps?
Product
Price
Place
Physical Evidence
6
Which of the questions below is NOT a valuable research question?
Which new product ideas would customers most likely purchase?
What criteria do customers use when making purchase decisions?
All of these are valuable research questions.
How do customers rate our solutions against competing solutions?
7
The customer should ideally be at the center of the marketing process.
False
True
8
The research question, when referred to in marketing research, is the _____.
All of these can be used to define a research question
The only question being asked in market research
The question asked in surveys
Primary goal of the market research
9
Consider a candy bar sold in a vending machine. The vending machine represents which of the 7 Ps?
Place
Promotion
Product
Process
10
Which of the 7 Ps of marketing is especially crucial in the services industry?
Price
Place
Product
Process
11
Exploratory research is useful when _____.
Marketers want to do something brand new
Marketers need broad research questions narrowed down into precise question
Marketers have plenty of data but aren’t sure what it means
Marketers aren’t sure what to research
12
Surveys are a type of market research.
True
False
13
Why are relationships important in marketing?
All of these are reasons why relationships are important in marketing.
Happy customers are more immune to competing offers.
Happy customers will pay more for solutions from the brands they love.
Happy customers advocate for favorite brands with word-of-mouth marketing.
14
Which of these is NOT true about the 7 Ps of marketing?
The pieces are interdependent
The mix of the 7 Ps can provide differentiation
The customer is at the center
The 7 Ps focus on advertising
15
What survey asks, “How likely are you to recommend [brand] to a friend or colleague?” to measure customer experience?
Brand Awareness Survey
Brand Image Survey
Customer Satisfaction Survey
NPS or Net Promoter Score Survey
16
Marketing research is used when marketers need insights into customer needs and behaviors, product preferences, etc...
False
True

Chapter 1 & 2 - Modern Marketing Principles Flashcards | StudBud