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Marketing quiz

QuestionAnswer
What is the Marketing Concept? A business philosophy that focuses on satisfying customer needs and wants while achieving company goals.
What is the Marketing Mix? A set of strategies (4 P’s) used to promote and sell a product or service.
List the 4 P’s of Marketing. Product, Price, Place, Promotion.
Example of a Marketing Mix for Starbucks. Product: Coffee, beverages, snacks Price: Premium pricing Place: Stores, online ordering Promotion: Social media, loyalty programs
Define Utility in marketing. Attributes of a product or service that make it capable of satisfying a customer’s needs and wants.
Name the 5 types of Utility Form, Time, Place, Possession, Information.
What is Market Segmentation? Dividing a market into smaller groups based on shared characteristics.
Types of Market Segmentation. Demographic, Geographic, Psychographic.
Why is segmentation important? Helps businesses target the right audience, improves marketing efficiency, and increases customer satisfaction.
Created by: user-2005419
 

 



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