Marketing Concepts Quiz

What are tactics in marketing?

• Long-term goals

• Specific actions to carry out strategies

• Financial investments

• Customer surveys

What are two of the questions marketers ask themselves when choosing a strategy?

• When do we want to reach our goal?

• How many employees do we have?

• What is the competition doing?

• What resources do we have on hand?

Price is the balance between?

• Between cost and revenue

• Between customer satisfaction and company profit

• Between quality and quantity

• Between supply and demand

What does 'place' refer to in the marketing mix?

• The location of the company's headquarters

• Getting a product in the right place at the right time

• The design of the product

• The price of the product

What is one of the benefits of a Unique Value Proposition?

• Provides a specific and exclusive benefit

• Increases the number of employees

• Reduces marketing costs

• Increases product weight

What does a Unique Value Proposition showcase?

• A company's financial status

• A company's special niche

• A company's employee benefits

• A company's production methods

What are some USPs directly related to?

• Product features

• Employee salaries

• Office locations

• Marketing budgets

What do some USPs relate more to?

• Emotions

• Financial reports

• Production schedules

• Office decor

What are two advantages of a USP?

• To build a connection with target markets

• To create visibility in a crowded marketplace

• To decrease employee performance

• To decrease the number of employees

What do USPs improve?

• The performance of employees

• The number of products

• The cost of production

• The size of the company