Marketing Quiz

What is the central role of marketing?

• Creating and keeping customers

• Focusing on operations and products

• Monitoring competitors

• Exceeding value offered by competitors

What is the key to achieve marketing success?

• Focusing on operations and products

• Monitoring competitors

• Exceeding value offered by competitors

• Creating and keeping customers

What is the main goal of marketing orientated companies?

• Achieving the ability to attract and retain customers

• Focusing on operations and products

• Monitoring competitors

• Exceeding value offered by competitors

What is the last stage in the marketing planning process?

• Finding out customers' current and future needs

• Achieving the ability to attract and retain customers

• Evaluation of performance

• Achieving the lowest cost position in an industry

What does the promotional mix include according to Neil Bordon?

• Advertising, personal selling, sales promotions, public relations

• Personal selling, sales promotions, public relations, direct marketing

• Advertising, sales promotions, public relations, direct marketing

• Advertising, personal selling, public relations, direct marketing

What is another term for product development?

• New products for existing markets

• Differentiation

• Lowest delivered cost

• Cost focus

How can competitive advantage be achieved in any market?

• Differentiation

• Lowest delivered cost

• New products for existing markets

• Cost focus

What are the two main components for marketing measurement?

• Effectiveness of operational marketing activity and impact of marketing

• Effectiveness of operational marketing activity and differentiation

• Effectiveness of operational marketing activity and lowest delivered cost

• Effectiveness of operational marketing activity and cost focus

What should be done to evaluate marketing plans?

• Monitor competitors

• Evaluate performance

• Achieve the lowest cost position in an industry

• Find out customers' current and future needs

What does generic strategy include?

• Differentiation, cost leadership and cost focus

• Cost leadership and cost focus

• Differentiation and cost focus

• Differentiation and cost leadership