RPMC

What is a "need" in marketing terms?

• A luxury item people desire

• A basic requirement necessary for survival

• A product created by a business

• Something that can be postponed indefinitely

What is a "want" in marketing terms?

• A desire for something that isn't necessary

• Something required for basic survival

• An automatic behavior

• A government regulation

What is qualitative research?

• Research based on numerical data and statistics

• Research that measures how many people like a product

• Research that explores opinions, feelings, and motivations

• A method to calculate costs and revenue

What is quantitative research?

• Research based on open-ended interviews

• Research focused on personal experiences

• Research that uses numerical data and measurable facts

• Research that analyzes social media content

What is marketing?

• Selling products at the lowest price

• The process of managing supply chains

• Identifying and meeting customer needs profitably

• Designing the product packaging

What does SWOT analysis stand for?

• Strategy, Work, Operations, Trends

• Strengths, Weaknesses, Opportunities, Threats

• Sales, Workflows, Objectives, Targets

• Systems, Work, Offers, Tactics

What does PESTLE analysis stand for?

• Political, Economic, Social, Technological, Legal, Environmental

• Planning, Estimating, Selling, Trading, Leasing, Evaluation

• Product, Evaluation, Sales, Timing, Logistics, Expenses

• People, Ethics, Standards, Trends, Law, Economy

What is market segmentation?

• Selling products in bulk

• Splitting a market into distinct groups of consumers

• Lowering prices to attract customers

• Merging businesses to grow faster

Which of the following is NOT a type of market segmentation?

• Geographic

• Technical

• Behavioral

• Demographic

What does psychographic segmentation focus on?

• Age and gender

• Location and climate

• Lifestyle, personality, and values

• Past purchasing behavior