Marketing 3000 Grantham Test 2 Questions and Answers | Latest Update | 2024/2025 | Graded A+
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Course
Mrketing 3000 Grantham
Institution
Mrketing 3000 Grantham
Marketing 3000 Grantham Test 2
Questions and Answers | Latest Update |
2024/2025 | Graded A+
What is the purpose of market positioning?
To establish a brand or product in the minds of consumers relative to competitors.
How does consumer behavior influence marketing strategies?
Underst...
Marketing 3000 Grantham Test 2
Questions and Answers | Latest Update |
2024/2025 | Graded A+
What is the purpose of market positioning?
✔✔ To establish a brand or product in the minds of consumers relative to competitors.
How does consumer behavior influence marketing strategies?
✔✔ Understanding consumer behavior helps tailor marketing efforts to meet customer needs and
preferences.
What is the role of price in the marketing mix?
✔✔ Price determines the value exchange between the company and customers and impacts
demand and profitability.
How does brand equity affect a company's competitive advantage?
✔✔ Strong brand equity increases customer loyalty, allowing the company to command higher
prices and resist competition.
1
,What is the significance of product differentiation?
✔✔ Differentiation helps a product stand out in the market, making it more attractive to target
customers.
How do distribution channels impact product availability?
✔✔ Efficient distribution channels ensure that products are available to customers when and
where they need them.
What is the importance of market segmentation?
✔✔ Market segmentation helps companies target specific groups of consumers with tailored
marketing strategies.
How does digital marketing enhance customer engagement?
✔✔ Digital marketing allows for direct and interactive communication with customers,
increasing engagement and loyalty.
What is the role of customer feedback in product development?
✔✔ Customer feedback provides insights into customer needs, guiding improvements and
innovations in products.
2
, How does promotional strategy support brand awareness?
✔✔ Effective promotions increase visibility and recognition of the brand, leading to higher sales
and market share.
How does integrated marketing communication (IMC) create consistency in messaging?
✔✔ IMC ensures all promotional efforts convey a unified message across channels, reinforcing
brand identity.
What is the role of public relations in marketing?
✔✔ Public relations manage the company’s reputation and build positive relationships with the
public and stakeholders.
How does social media marketing drive customer interaction?
✔✔ Social media allows brands to engage directly with customers, fostering interaction,
feedback, and community building.
What impact does customer loyalty have on marketing efforts?
3
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