MARK 3000 test 3 UGA (McManus) Questions and Answers | Latest Update | 2024/2025 | 100% Pass
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Course
MRK 3000
Institution
MRK 3000
MARK 3000 test 3 UGA (McManus)
Questions and Answers | Latest Update |
2024/2025 | 100% Pass
What is a marketing funnel’s main function?
To guide potential customers through different stages until they make a purchase.
How does a company use customer journey mapping?
To visualize an...
MARK 3000 test 3 UGA (McManus)
Questions and Answers | Latest Update |
2024/2025 | 100% Pass
What is a marketing funnel’s main function?
✔✔ To guide potential customers through different stages until they make a purchase.
How does a company use customer journey mapping?
✔✔ To visualize and enhance the customer experience across all touchpoints.
What does a unique value proposition (UVP) do?
✔✔ It highlights what makes a product or service uniquely beneficial to customers.
What is the significance of a customer acquisition cost (CAC)?
✔✔ It measures the expense associated with gaining a new customer.
How does competitive positioning affect a business?
✔✔ It determines how a company’s products or services are perceived compared to
competitors’.
1
,What is the purpose of an integrated marketing communication (IMC) strategy?
✔✔ To ensure consistency and coherence in messaging across all marketing channels.
What role does market segmentation play in targeting?
✔✔ It helps in tailoring marketing efforts to specific groups within a larger market.
How is customer retention different from customer acquisition?
✔✔ Customer retention focuses on keeping existing customers, while acquisition aims to attract
new ones.
What is the importance of a marketing audit?
✔✔ It evaluates the effectiveness of current marketing strategies and identifies areas for
improvement.
How does a company use price elasticity in pricing strategy?
✔✔ By understanding how changes in price affect consumer demand for its products or services.
2
, What is the purpose of a brand equity audit?
✔✔ To assess the value of a brand based on consumer perception and market performance.
How does a company use predictive analytics in marketing?
✔✔ To forecast future consumer behaviors and trends based on historical data.
What is the role of a marketing strategy in business planning?
✔✔ To outline how marketing efforts will achieve long-term business goals.
How can a company leverage customer testimonials effectively?
✔✔ By using them to build credibility and trust with potential customers.
What is the function of a marketing budget?
✔✔ To allocate resources for various marketing activities and track expenditures.
How does a company implement a cross-channel marketing approach?
✔✔ By integrating marketing efforts across multiple platforms for a cohesive strategy.
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