MARK3000 EXAM 1 Grantham Ch 1,
4,5,6,9 | Latest Update | 2024/2025 |
Graded A+
What is the significance of brand equity in marketing?
It represents the value a brand adds to a product or service through customer perception and
loyalty.
How does a marketing mix differ from a marketing s...
MARK3000 EXAM 1 Grantham Ch 1,
4,5,6,9 | Latest Update | 2024/2025 |
Graded A+
What is the significance of brand equity in marketing?
✔✔ It represents the value a brand adds to a product or service through customer perception and
loyalty.
How does a marketing mix differ from a marketing strategy?
✔✔ The marketing mix consists of the 4 Ps (product, price, place, promotion), while the
marketing strategy encompasses the overall plan to achieve marketing goals.
What is the role of a customer persona in targeting?
✔✔ It helps in creating detailed profiles of ideal customers to tailor marketing messages and
strategies.
How does understanding market trends benefit a business?
✔✔ It allows businesses to adapt to changes in consumer preferences and stay competitive.
1
,What is the impact of digital marketing on traditional advertising methods?
✔✔ Digital marketing provides more targeted, measurable, and cost-effective options compared
to traditional methods.
How does cross-functional collaboration enhance marketing effectiveness?
✔✔ By integrating insights and resources from different departments to create cohesive and
comprehensive marketing campaigns.
What is the importance of setting measurable marketing objectives?
✔✔ It enables businesses to track progress, evaluate success, and make data-driven adjustments.
How can a company use storytelling in its marketing efforts?
✔✔ By creating compelling narratives that connect emotionally with the audience and reinforce
brand values.
What is the role of competitive benchmarking in marketing?
✔✔ To compare a company’s performance with competitors to identify strengths and areas for
improvement.
2
,How does influencer marketing work, and why is it effective?
✔✔ It leverages the credibility and reach of influencers to promote products, which can
effectively reach and persuade their followers.
What is the purpose of a marketing audit?
✔✔ To evaluate and assess the effectiveness of current marketing strategies and practices.
How does market penetration differ from market expansion?
✔✔ Market penetration focuses on increasing market share within existing markets, while
market expansion targets new markets.
What is the significance of customer segmentation in developing marketing campaigns?
✔✔ It allows for tailored campaigns that address the specific needs and preferences of different
customer groups.
How does a value proposition contribute to a company's competitive advantage?
✔✔ It highlights the unique benefits and value a company offers compared to its competitors.
3
, What is the role of brand loyalty in driving repeat business?
✔✔ It encourages customers to make repeated purchases and remain committed to a brand over
time.
How can businesses use data analytics to improve marketing strategies?
✔✔ By analyzing data to gain insights into customer behavior and campaign performance for
more informed decisions.
What is a unique selling proposition (USP), and why is it important?
✔✔ A USP is a distinctive feature that differentiates a product from competitors and attracts
customers.
How can a business leverage customer testimonials in its marketing?
✔✔ By using positive feedback from customers to build credibility and trust with potential
buyers.
What is the purpose of a marketing funnel, and what are its stages?
✔✔ A marketing funnel represents the stages from initial awareness to final purchase, helping to
guide and optimize the customer journey.
4
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