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MARK 3000 Grantham UGA Test 2 Questions and Answers | Latest Version | 2024/2025 | Rated A+ CA$13.66   Add to cart
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MARK 3000 Grantham UGA Test 2 Questions and Answers | Latest Version | 2024/2025 | Rated A+
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MARK 3000 Grantham UGA Test 2 Questions and Answers | Latest Version | 2024/2025 | Rated A+ What is the purpose of a product portfolio? To manage and assess the range of products offered by a company. How does cross-promotional marketing work? By promoting related products or services...

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  • September 3, 2024
  • 19
  • 2024/2025
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MARK 3000 Grantham UGA Test 2
Questions and Answers | Latest Version
| 2024/2025 | Rated A+
What is the purpose of a product portfolio?


✔✔ To manage and assess the range of products offered by a company.




How does cross-promotional marketing work?


✔✔ By promoting related products or services to existing customers to increase sales.




What is the function of a marketing channel?


✔✔ To deliver products or services from the producer to the consumer.




What does customer churn rate indicate?


✔✔ The percentage of customers who stop using a product or service over a given period.




How can a business use trend analysis in marketing?


✔✔ To identify and predict changes in consumer behavior and market conditions over time.




1

,What is a marketing strategy?


✔✔ A plan that outlines how a business will achieve its marketing goals and objectives.




What does a market penetration strategy involve?


✔✔ Increasing market share by attracting new customers or encouraging existing customers to

buy more.




What is the role of experiential marketing?


✔✔ To create memorable experiences for customers that enhance brand connection and loyalty.




What is the significance of a product’s brand name?


✔✔ It helps in identifying, differentiating, and building recognition for the product.




How does behavioral segmentation differ from psychographic segmentation?


✔✔ Behavioral segmentation is based on consumer actions and purchasing behavior, while

psychographic segmentation focuses on lifestyle and values.




What is the purpose of a market segmentation strategy?


2

, ✔✔ To divide the market into groups with similar needs or characteristics.




How does a company benefit from understanding consumer behavior?


✔✔ It helps tailor products and marketing efforts to meet customer needs.




What is the role of a brand ambassador?


✔✔ To represent and promote a brand positively to the target audience.




What is market positioning?


✔✔ How a product is perceived in relation to competitors in the minds of consumers.




What is the difference between a product and a service?


✔✔ A product is a physical item, while a service is an intangible offering.




What is the importance of competitive benchmarking?


✔✔ It helps compare performance against competitors to identify strengths and weaknesses.




How can a business use customer loyalty programs effectively?

3

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