Marketing Quiz 1

Which of the following is least likely to be included in a marketing plan? 

• Distribution Strategies

• Market Research

• Production Capacity

• Control Tools

The marketing mix is often referred to as the 'four Ps'. What are the four elements of the marketing mix? 

• People, price, processes, place. 

• Product, price, promotion, place. 

• Product, price, processes, place. 

• People, price, promotion, place. 

A company wants to increase its customer retention. What would be a cost-effective way to achieve this?

• Opening new stores close to competitors, so it can steal their customers. 

• Cutting all prices by 5%. 

• A large national advertising campaign, stressing the importance of customer loyalty. 

• Offer customers loyalty cards so they can be targeted with direct marketing messages and be offered discounts for repeat purchases. 

A global fast food restaurant wants to design menus that appeal to local customers' tastes. Which method of segmentation could it use?  

• Geographic segmentation

• Demographic segmentation

• Psychographic segmentation

• Psychological segmentation

Why do companies need to select a target market? 

• All of the options. 

• So they know what specific needs their goods are attempting to fulfill. 

• To provide focus for the marketing team. 

• So the marketing budget can be spent effectively. 

A market leader is conducting some competitor research. Which companies may be the focus of its investigation? 

• Market leaders do not need to carry out competitor research. 

• Only those outside its strategic group. 

• All companies within the entire market. 

• Only those within its strategic group. 

The leading pizza delivery company in Sydney is successful because it guarantees to deliver orders to customers within 30 minutes. On which area of the marketing mix is its USP based? 

• Place

• Price

• Product

• Promotion

What is an example of how the operations function may support the marketing function? 

• Ensuring correct market research is carried out. 

• Ensuring the right quality and quantity of labour are employed. 

• Ensuring the correct levels of finance are in place. 

• Ensuring production capacity can meet expected demand. 

What is an essential part of market orientation? 

• The marketing mix

• Research and development

• Innovative products

• Market research

What is a disadvantage of taking a product-oriented approach? 

• New markets may be created. 

• There may not be a market for the product. 

• A unique selling point is unlikely. 

• Undifferentiated products may be produced.