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DigitalMarketingExam
| Question | Answer |
|---|---|
| A specific group of customers that is most likely to buy a certain product or service, and where marketing efforts are aimed in order to reach and connect with this group, is called | Target Market |
| The process of sorting people into groups who share one or more common or similar characteristics, lumped together for target marketing purposes, is called | Market Segmentation |
| The rivalry between companies selling similar products and services is called | Competition |
| The ultimate purpose of a company’s marketing strategy is to | Achieve its goals |
| Marketing mix includes the 4Ps, which are | Product, Price, Placement, Promotion |
| What is an example of promotion? | an advertisement on social media |
| Plumbers, Netflix, a hair salon, Spotify and Uber are examples of a: | Service |
| Which phase of the new product development process would involve gathering opinions from key stakeholders about an idea? | Screening |
| When a service is attached to and sold along with a tangible good, the service is called a: | Product-Related Service |
| Adding related products to an existing product line in an existing target market to meet different needs is called: | Line Extension |
| When a company’s cost of goods sold increases, they will usually: | Feel pressure to increase prices to maintain profit margins |
| The four stages of the Product Life Cycle in order are as follows: | Introduction, Growth, Maturity, and Decline |
| Which stage of the sales pipeline is where a company identifies potential customers? | Prospecting |
| During which stage of the sales pipeline does the bulk of selling occur and product demos and/or free trials are offered? | Nurturing |
| Which term refers to the actions a company takes to keep, and maintain repeat customers? | Customer retention |
| Which element of the promotional mix is a form of promotion where a business communicates directly with their target customers, but not in-person? | Direct Marketing |
| What is an example of a sales promotion? | a contest |
| What term is used to refer to the number of times an advertisement is displayed on users’ screens? | impressions |
| What is the definition of marketing? | The enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and society’s benefit. |
| To promote a product is to: | inform potential customers that a product or service exists, and the results they should expect from using it |
| What is an example of a nondurable good? | a granola bar |
| Which marketing function is most involved with determining whether a business should improve or update a product or service? | Product/Service Management |
| The number of unique people who view an advertisement is referred to as: | Reach |
| What measures the gain or loss generated on an investment, compared to the amount of money invested? | ROI (return on investment) |
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