MARK 3000 Chapter 2 Cards - Grantham UGA Questions and Answers | 2024/2025 | 100% Verified
6 views 0 purchase
Module
MAK 3000 Chapter 2
Institution
MAK 3000 Chapter 2
MARK 3000 Chapter 2 Cards - Grantham
UGA Questions and Answers | 2024/2025
| 100% Verified
What is a market gap?
An unmet need in the market that represents an opportunity for new products or services.
What is the significance of brand differentiation?
It helps a brand stand out from ...
MARK 3000 Chapter 2 Cards - Grantham
UGA Questions and Answers | 2024/2025
| 100% Verified
What is a market gap?
✔✔ An unmet need in the market that represents an opportunity for new products or services.
What is the significance of brand differentiation?
✔✔ It helps a brand stand out from competitors and attract a specific segment of consumers
How does market analysis influence product development?
✔✔ It helps identify consumer needs and preferences, guiding the creation of products that meet
those demands.
What is the function of a positioning statement?
✔✔ To succinctly describe how a product or brand should be perceived in the market.
What is the difference between quantitative and qualitative research?
1
, ✔✔ Quantitative research involves numerical data and statistics, while qualitative research
focuses on understanding concepts and experiences.
How does competitive analysis inform marketing strategy?
✔✔ It provides insights into competitors' strengths and weaknesses, helping to refine and
differentiate a company’s own strategies.
What are the benefits of using focus groups in market research?
✔✔ They offer in-depth insights into consumer attitudes and opinions through interactive
discussions.
What is the role of customer demographics in market analysis?
✔✔ They provide data on characteristics such as age, gender, and income, which helps in
targeting specific consumer groups.
How can businesses utilize customer journey mapping?
✔✔ By visualizing the steps customers take from awareness to purchase, businesses can improve
the customer experience.
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SterlingScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £7.49. You're not tied to anything after your purchase.
