UGA MARK 4000: Exam 1 Questions and Answers | Latest Version | 2024/2025 | 100% Verified
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Course
UGA MRK 4000:
Institution
UGA MRK 4000:
UGA MARK 4000: Exam 1 Questions and
Answers | Latest Version | 2024/2025 |
100% Verified
What is the main goal of marketing?
To promote and sell products or services to meet customer needs and achieve business
objectives.
What does the term "target market" mean?
The specific group of...
UGA MARK 4000: Exam 1 Questions and
Answers | Latest Version | 2024/2025 |
100% Verified
What is the main goal of marketing?
✔✔ To promote and sell products or services to meet customer needs and achieve business
objectives.
What does the term "target market" mean?
✔✔ The specific group of consumers a company aims to reach with its marketing efforts.
What is a unique selling proposition (USP)?
✔✔ A unique feature or benefit of a product that distinguishes it from competitors.
How can companies use customer feedback in marketing?
✔✔ By using feedback to improve products, adjust marketing strategies, and enhance customer
satisfaction.
What is the purpose of a promotional campaign?
1
,✔✔ To increase awareness and encourage consumers to purchase a product or service.
What does "market segmentation" involve?
✔✔ Dividing a market into distinct groups based on characteristics like demographics or
interests.
What is the role of a marketing budget?
✔✔ To allocate financial resources for various marketing activities and campaigns.
What does "brand loyalty" refer to?
✔✔ A customer's commitment to repeatedly purchase from a specific brand due to positive
experiences.
What is an example of a marketing channel?
✔✔ Social media, email, and retail stores are examples of marketing channels.
What is the purpose of a marketing strategy?
✔✔ To outline how a company will achieve its marketing goals and reach its target market.
2
, What is the difference between a product and a service in marketing?
✔✔ A product is a tangible item that can be bought or sold, while a service is an intangible
offering that provides value through actions or performance.
What does "market research" involve?
✔✔ Market research involves gathering and analyzing information about consumers,
competitors, and market conditions to make informed business decisions.
What is a marketing funnel?
✔✔ A marketing funnel is a model that represents the stages a customer goes through from
awareness to purchase.
How can a company use advertising to promote its products?
✔✔ By creating and placing ads across various media channels to reach and persuade potential
customers.
What is the role of a sales promotion?
3
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