Marketing Fundamentals Exam

What are the components of the marketing mix?

• Product, Price, Place, Promotion

• Product, Price, People, Process

• Product, Price, Positioning, Promotion

• Product, Price, Packaging, Promotion

What is the purpose of market segmentation?

• To identify target markets

• To increase product price

• To reduce production costs

• To expand product lines

What are the stages of the product life cycle?

• Introduction, Growth, Maturity, Decline

• Development, Launch, Growth, Saturation

• Launch, Growth, Peak, Decline

• Introduction, Expansion, Maturity, Withdrawal

What is the purpose of SWOT analysis?

• To identify strengths, weaknesses, opportunities, and threats

• To analyze market trends

• To evaluate financial performance

• To assess customer satisfaction

What is the difference between primary and secondary data?

• Primary data is collected firsthand, secondary data is pre-existing

• Primary data is more accurate, secondary data is less reliable

• Primary data is cheaper to collect, secondary data is more expensive

• Primary data is qualitative, secondary data is quantitative

What are qualitative research methods?

• Surveys, focus groups, interviews, observations

• Experiments, surveys, case studies, observations

• Focus groups, interviews, case studies, experiments

• Surveys, experiments, focus groups, interviews

What is the purpose of a marketing plan?

• To outline marketing strategies and actions

• To increase sales revenue

• To reduce marketing costs

• To improve customer service

What does SMART stand for in SMART goals?

• Specific, Measurable, Achievable, Relevant, Time-bound

• Simple, Measurable, Achievable, Realistic, Timely

• Specific, Manageable, Achievable, Realistic, Time-bound

• Simple, Manageable, Achievable, Relevant, Timely

What are the components of the promotional mix?

• Advertising, sales promotion, PR, personal selling

• Advertising, direct marketing, PR, digital marketing

• Sales promotion, direct marketing, PR, digital marketing

• Advertising, sales promotion, direct marketing, digital marketing

What is the AIDA model?

• Attention, Interest, Desire, Action

• Awareness, Interest, Decision, Action

• Attention, Interest, Decision, Action

• Awareness, Interest, Desire, Action