Understanding Marketing Strategies Quiz

Which industry is likely to spend the most on marketing?

• Fast food

• Electricity

• Train travel

• Nursing services

Which is the most plausible reason that the energy industry spends the least on marketing?

• There is little competition among energy providers.

• Most energy companies are legally prohibited from marketing.

• Standards for customer service are different in the energy industry.

• There is a very small market for energy so little marketing is needed.

Simone owns a women's clothing boutique. Who is most likely to be her ideal customer?

• Someone who came in once but spent a great deal of money

• Someone who comes in frequently but rarely actually buys products

• Someone who visits weekly and spends a moderate amount of money

• Someone who comes in occasionally and complains about the business

A customer who frequently visits an ice cream shop orders a peanut butter milkshake. After paying for the milkshake and leaving the store, the customer comes in and says he does not like the milkshake. What should the ice cream store manager do?

• Nothing—the customer had already left the store.

• Offer to make a new milkshake in a different flavor at half cost.

• Offer to make the customer a new milkshake in a different flavor, free of charge.

• Explain that they will try a different brand of peanut butter ice cream in the future.

Why should businesses pursue repeat customers?

• They will spend the most over time.

• They care the least about customer service.

• They do not require further marketing efforts.

• They are most likely to review the business on social media.

If a business has a long-time customer with an issue, should the business resolve it even if it means losing money on that sale?

• Yes, if satisfied, that customer will provide more business.

• No, the customer will likely complain the next time they come in.

• Yes, a business is almost always obligated to do what the customer wants.

• No, the customer has probably complained before so the business should ignore them.

How can a customer's negative experience be an opportunity for marketing?

• It is not—businesses should ignore unhappy customers.

• The business can explain why the customer is wrong to be upset.

• Marketing efforts are designed with the dissatisfied customer in mind.

• A successful resolution of the problem can keep the customer a fan of the business.

A car manufacturer notices that customers are increasingly buying its most fuel-efficient models. At the same time, its top two luxury models also account for a significant number of sales. How could this information about the market help the manufacturer develop future models?

• It suggests that consumers are only interested in fuel-efficient vehicles.

• It indicates that value is what customers are looking for in cars.

• It tells the manufacturer the qualities that consumers are looking for.

• It indicates that luxury models should be the primary focus of future marketing efforts.

Which of these is an example of the relationship between a product and society?

• Creating a national minimum wage

• Using recycled material in packaging

• Considering products that were used decades ago

• Following all of the regulations that relate to the product

Julio wants to open a sporting goods store. Which is a good first step for marketing the business?

• Accepting cash from a customer purchasing a product

• Holding regular staff meetings to go over employee benefits

• Hiring an attorney to review all contracts associated with the business

• Researching the most likely customers and how to reach them