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MKT 320F - Unit 1 Questions and Answers 100% Pass
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MKT 320F - Unit 1 Questions and Answers 100% Pass What does "value chain analysis" help a company understand? Value chain analysis helps a company understand the series of activities that add value to its products or services, from production to delivery. How can "customer personas" be ...

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  • September 10, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
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MKT 320F - Unit 1 Questions and
Answers 100% Pass

What does "value chain analysis" help a company understand?


✔✔ Value chain analysis helps a company understand the series of activities that add value to its

products or services, from production to delivery.




How can "customer personas" be used in marketing strategy?


✔✔ Customer personas can be used to create detailed profiles of ideal customers, guiding

targeted marketing efforts and product development.




What is "competitive advantage" and how can it be achieved?


✔✔ Competitive advantage is what makes a company’s products or services more desirable than

competitors'. It can be achieved through unique features, cost leadership, or superior customer

service.




How does "digital marketing" differ from traditional marketing methods?


✔✔ Digital marketing utilizes online channels like social media and email, while traditional

marketing uses offline methods like print and broadcast media.



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, What is the role of "supply chain management" in marketing?


✔✔ Supply chain management ensures that products are produced and delivered efficiently,

impacting availability and customer satisfaction.




How does "customer journey mapping" benefit a business?


✔✔ Customer journey mapping visualizes the steps customers take from awareness to purchase,

helping businesses optimize their interactions and improve the overall experience.




What are "market trends" and why are they important?


✔✔ Market trends are patterns and shifts in consumer behavior and market conditions that

inform strategic decisions and help businesses stay competitive.




What is "customer acquisition" and what strategies are commonly used?


✔✔ Customer acquisition is the process of gaining new customers, often using strategies like

promotions, advertising, and referral programs.




How can "brand positioning" influence customer perception?




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