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MARK 3000: McManus Test 2 Questions and Answers | Latest Update | 2024/2025 | Rated A+ $10.80
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MARK 3000: McManus Test 2 Questions and Answers | Latest Update | 2024/2025 | Rated A+
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MARK 3000: McManus Test 2 Questions and Answers | Latest Update | 2024/2025 | Rated A+ What is a market trend, and why is it important? A market trend is a general direction in which a market is moving, important for anticipating changes and adapting strategies. How does a company defi...

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  • September 3, 2024
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  • 2024/2025
  • Exam (elaborations)
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MARK 3000: McManus Test 2 Questions
and Answers | Latest Update | 2024/2025
| Rated A+
What is a market trend, and why is it important?


✔✔ A market trend is a general direction in which a market is moving, important for anticipating

changes and adapting strategies.




How does a company define its unique selling proposition (USP)?


✔✔ By identifying what makes its product or service different and more valuable than

competitors’.




What role does market positioning play in branding?


✔✔ It helps establish how a brand is perceived relative to competitors in the minds of

consumers.




What is the significance of a customer journey map?


✔✔ It outlines the stages a customer goes through from initial contact to post-purchase, helping

improve the customer experience.




1

,How can businesses utilize seasonal marketing?


✔✔ By creating promotions or campaigns that align with seasonal events or holidays to boost

sales.




What is the purpose of a marketing audit?


✔✔ To review and evaluate the effectiveness of marketing activities and strategies.




How does a business use demographic data in marketing?


✔✔ To target and tailor marketing messages based on characteristics like age, gender, and

income.




What is the role of social proof in marketing?


✔✔ To build trust and credibility through testimonials, reviews, and endorsements.




How does a company use cross-selling techniques?


✔✔ By recommending related or complementary products to existing customers to increase

sales.




2

,What is a product differentiation strategy?


✔✔ A method to distinguish a product from competitors by emphasizing unique features or

benefits.




What is a marketing segment?


✔✔ A distinct group within a market with specific needs and characteristics.




How does customer retention impact business growth?


✔✔ It helps increase repeat sales and customer loyalty, leading to steady revenue growth.




What is a sales strategy?


✔✔ A plan outlining how a business will sell its products or services to achieve its sales goals.




What is the importance of understanding consumer demographics?


✔✔ It helps tailor marketing efforts to specific age groups, income levels, and other

demographic factors.




How does content marketing contribute to brand awareness?


3

, ✔✔ By creating and sharing valuable content to attract and engage the target audience.




What is a marketing funnel, and what are its stages?


✔✔ A model that describes the stages from attracting leads to converting them into customers,

including awareness, consideration, and decision.




How does competitive pricing influence market position?


✔✔ It can attract customers by offering better value compared to competitors, impacting market

share.




What is a promotional strategy?


✔✔ A plan to communicate and persuade customers through methods like advertising, sales

promotions, and public relations.




How can businesses use customer personas in marketing?


✔✔ To design targeted marketing campaigns that appeal to specific customer profiles based on

behavior and preferences.




What is a brand audit, and why is it conducted?

4

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