MKT 320F Final Exam Questions and Answers 100% Pass
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Course
MKT 320F Fin
Institution
MKT 320F Fin
MKT 320F Final Exam Questions and
Answers 100% Pass
What is "differentiated marketing"?
- A) A strategy where a company offers one product to the entire market
- B) A strategy that involves targeting several market segments with different products
- C) A method of increasing brand visibili...
MKT 320F Final Exam Questions and
Answers 100% Pass
What is "differentiated marketing"?
- A) A strategy where a company offers one product to the entire market
- B) A strategy that involves targeting several market segments with different products
- C) A method of increasing brand visibility through social media
- D) A process for setting uniform pricing across all market segments
✔✔ B) A strategy that involves targeting several market segments with different products
How does "product bundling" benefit companies?
- A) By increasing the individual price of each product
- B) By offering multiple products together at a lower price to increase overall sales
- C) By limiting the availability of products to select customers
- D) By promoting only one product at a time
✔✔ B) By offering multiple products together at a lower price to increase overall sales
What is the purpose of "market skimming" pricing strategy?
- A) To set a low initial price to attract a large number of buyers
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,- B) To gradually increase prices over time to maximize profits from early adopters
- C) To offer discounts on bulk purchases
- D) To price products based on competitor rates
✔✔ B) To gradually increase prices over time to maximize profits from early adopters
What is "relationship marketing" focused on?
- A) Acquiring new customers through aggressive advertising
- B) Building long-term relationships with customers to foster loyalty
- C) Managing logistics and supply chain issues
- D) Developing new products to meet market demands
✔✔ B) Building long-term relationships with customers to foster loyalty
In "market research," what is the main goal of conducting qualitative research?
- A) To gather numerical data about market trends
- B) To understand deeper insights into customer attitudes and motivations
- C) To evaluate financial performance of marketing strategies
- D) To assess the impact of pricing changes
✔✔ B) To understand deeper insights into customer attitudes and motivations
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,What is "service differentiation"?
- A) Offering similar services at different price points
- B) Creating distinct features or quality levels in services to stand out from competitors
- C) Reducing the cost of service delivery
- D) Limiting the availability of services to specific regions
✔✔ B) Creating distinct features or quality levels in services to stand out from competitors
How does "viral marketing" work?
- A) By creating content that spreads rapidly through social networks and word-of-mouth
- B) By offering time-limited promotions to increase sales
- C) By targeting traditional media channels for widespread advertising
- D) By using direct mail to reach potential customers
✔✔ A) By creating content that spreads rapidly through social networks and word-of-mouth
What is the "4 Ps" framework in marketing?
- A) Product, Place, Price, and Promotion
- B) Product, Performance, Place, and Price
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, - C) Price, Place, People, and Promotion
- D) Product, Pricing, Promotion, and Partnership
✔✔ A) Product, Place, Price, and Promotion
What does "customer lifetime value" (CLV) measure?
- A) The total cost a customer incurs during their relationship with a company
- B) The total revenue a business earns from a customer over their entire relationship
- C) The length of time a customer remains with a company
- D) The frequency of customer purchases in a given period
✔✔ B) The total revenue a business earns from a customer over their entire relationship
What is "brand awareness"?
- A) The extent to which consumers recognize and remember a brand
- B) The process of creating new brands for different market segments
- C) The level of customer satisfaction with a brand
- D) The total market share held by a brand
✔✔ A) The extent to which consumers recognize and remember a brand
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