Research and Marketing Quiz

What does CRM stand for in the context of business?

• Customer Relations Management

• Centralized Resource Management

• Customer Revenue Maximization

• Consumer Retention Model

What is the importance of business strategy in CRM?

• Maximizing profits

• Improving customer relations

• Reducing budget constraints

• Minimizing production costs

Which factor is considered in the size and structure of the market?

• Budget constraints

• Product innovation

• Characteristics of market conditions

• New product development

Market share and profit objectives fall under non-financial marketing objectives.

• True

• False

What is the first step in developing effective marketing strategies?

• Setting financial objectives

• Understanding customer wants and needs

• Analysing market conditions

• Budget constraints

Which of the following is a non-financial marketing objective?

• Increasing revenue by 20%

• Enhancing brand awareness

• Reducing production costs

• Expanding market share

What is the primary purpose of marketing?

• Maximizing profits

• Satisfying customer needs and wants

• Expanding market share

• Minimizing production costs

What does effective marketing aim to achieve?

• Satisfying customer needs and wants

• Reducing product innovation

• Ignoring market conditions

• Minimizing budget constraints

New product development should ignore customer feedback.

• True

• False

What are the categories of marketing objectives?

• Financial and product objectives

• Financial and non-financial objectives

• Non-financial and budget objectives

• Market share and profit objectives