Set 5: Marketing ConceptsMost of the MCQ questions in this section are related to marketing management concepts. Show
After concept testing, a firm would engage in __________ for developing and marketing a new product? A. Marketing Strategy Development Stage B. Business Analysis Stage C. Product Development Stage D. Test Marketing Stage Answer A. Marketing Strategy Development Stage If the company’s sales are slow down, and profits level off or decline. At which stage the company has reached? A. Introduction B. Decline C. Growth D. Maturity Buying goods and services for further processing or for use in the production process refers to _________ A. Consumer markets B. Government markets C. Business markets D. International markets Answer C. Business markets Which is NOT the stage that customers go through in the process of adopting a new product? A. Awareness B. Interest C. Evaluation D. Culture The mental act, condition or habit of placing trust or confidence in another, shows which of the following options? A. Motive B. Belief C. Behaviour D. Attitude What does this statement show “Trade of value between two parties”? A. Competition B. Transaction C. Exchange D. Need Which one of the following concepts is a useful philosophy in a situation when the product’s cost is too high and marketers look for ways to bring it down? A. Selling concept B. Product concept C. Production concept D. Marketing concept View Answer C. Production concept The buying process starts from which one of the following stages in which the buyer recognizes a problem or need A. Need recognition B. Information search C. Evaluation of alternative D. Purchase decision View Answer A. Need recognition A firm has decided to localize its products and services to meet local market demands. Which one of the following approaches is a good approach for this segmentation? A. Geographic B. Demographic C. Psychographics D. Behavioural Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to which of the following options? A. Customer perceived value B. Marketing myopia C. Customer relationship management D. Customer satisfaction View Answer A. Customer perceived value Which one of the following statements by a company chairman BEST reflects the marketing concept? A. We have organized our business to satisfy the customer needs B. We believe that the marketing department must organize to sell what we produce C. We try to produce only high quality, technically efficient products D. We try to encourage company growth in the market View Answer A. We have organized our business to satisfy the customer needs Recommended textbook solutions
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Mathematics with Business Applications6th EditionMcGraw-Hill Education 3,760 solutions Has decided to localize its products and services to meet local market demand which one of the following is a good approach for market segmentation?Your company has decided to localize its products and services to meet local market demand. A good approach to use would be Geographic segmentation.
When a company identifies the parts of the market that it can serve best and most profitably The process is called?Market segmentation enables companies to target different categories of consumers who perceive the full value of certain products and services differently from one another.
When the BayTree logistics company uses segmented marketing it targets several segments and designs separate offers for each one called this marketing?When the BayTree Logistics Company uses segmented marketing, it targets several segments and designs separate offers for each one. This approach is called ________ marketing. Differentiated.
When a company identifies the parts of the market it can serve and most profitably it is practicing?Cards
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Your firm has decided to localize its products and services to meet local market demand
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