MARK 3000 McManus Test 1 Questions and Answers | Latest Update | 2024/2025 | 100% Verified
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Module
MRK 3000 McManus
Institution
MRK 3000 McManus
MARK 3000 McManus Test 1 Questions
and Answers | Latest Update | 2024/2025
| 100% Verified
What is a marketing objective?
A specific goal that a marketing campaign aims to achieve.
How does customer profiling assist in marketing?
It helps create detailed descriptions of target custome...
MARK 3000 McManus Test 1 Questions
and Answers | Latest Update | 2024/2025
| 100% Verified
What is a marketing objective?
✔✔ A specific goal that a marketing campaign aims to achieve.
How does customer profiling assist in marketing?
✔✔ It helps create detailed descriptions of target customers to tailor marketing strategies.
What is the role of competitive analysis in business strategy?
✔✔ To assess competitors’ strengths and weaknesses and inform strategic decisions.
What does market segmentation aim to achieve?
✔✔ It aims to identify and target specific groups within a broader market.
How does a brand's positioning affect its market presence?
✔✔ It defines how a brand is perceived relative to competitors in the market.
1
,What is the function of a marketing budget?
✔✔ To allocate financial resources for various marketing activities and campaigns.
What is the purpose of a promotional mix?
✔✔ To use various promotional tools to communicate and persuade customers effectively.
What is market penetration?
✔✔ A strategy to increase sales of existing products in existing markets.
How does customer acquisition differ from customer retention?
✔✔ Customer acquisition focuses on gaining new customers, while retention aims to keep
existing ones.
What is a value proposition?
✔✔ A statement that explains the benefits and value a product or service offers to customers.
What is the significance of brand loyalty in marketing?
✔✔ It leads to repeat purchases and long-term customer relationships.
2
, How does a company use product differentiation?
✔✔ To highlight unique features that set its product apart from competitors.
What is the role of market positioning in branding?
✔✔ To establish a brand's place in the market relative to competitors.
What does a marketing strategy outline?
✔✔ The overall plan for reaching and engaging target customers.
How can businesses use market trends in their marketing efforts?
✔✔ To align their strategies with current consumer preferences and industry developments.
What is the purpose of customer journey mapping?
✔✔ To visualize and understand the steps customers take from initial contact to purchase.
What is an example of a marketing objective?
✔✔ Increasing brand awareness by 20% over the next year.
3
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