Marketing Basics Quiz

What is the biggest problem with marketing today?

• Too many strategies, tactics, and tools

• Limited customer base

• Lack of resources

• Lack of creativity

What is the key to identifying the ideal customer avatar?

• Ignoring their interests

• Guessing their age

• Understanding their pains and problems

• Knowing their favorite color

What is the main focus of competitor research?

• To copy everything they do

• To learn from and possibly take a different approach

• To always play catch-up

• To ignore their strategies

What is the concept of specialization in marketing?

• Being a generalist and doing everything

• Competing in a non-competitive space by carving out a niche

• Trying to copy competitors

• Being a celebrity in the industry

According to the text, what is better than being better?

• Being controversial

• Being different

• Being a generalist

• Being a copycat

What does positioning in marketing refer to?

• The color scheme of the brand

• The physical location of the business

• The pricing strategy of the business

• Where your business stands in the marketplace in relation to competitors

What is the importance of segmentation in marketing?

• To make the business more confusing

• To identify and target ideal customers

• To focus on all customers equally

• To ignore customer preferences

What is concentration in marketing?

• Ignoring customer feedback

• Focusing on the most profitable and easiest to deliver service

• Spreading efforts across all products and services

• Trying to do everything at once

What is value-based pricing in marketing?

• Pricing based on the cost of production

• Pricing based on the value the customer receives

• Pricing based on random numbers

• Pricing based on competitor prices

What is the significance of market message media match in marketing?

• It ensures the business has a catchy slogan

• It ignores customer preferences

• It aligns the marketing message with the right media channels for the target market

• It focuses on market research only