1.In strategic marketing, what does ‘differentiation’ mean?
A) Developing a unique product or service feature that sets it apart from competitors
2.Predictor variables for regression analysis are likely to include all except:
A) Digital platforms
3.Which is not one of the four steps of market sizing?
A) Source the research through third party entities.
4.Which of the following is not considered a no-no in the business environment?
A) Your customer is always right.
5.Demographic segmentation can include factors such as age, gender, income, and education level.
A) True
6.You should not have to make judgement calls about which products to consider as competitors in the same market.
A) False
7.The food market is a classic example of Buyer Power in Porter’s Five Forces.
A) True
8.Which of the following is not used in the Delphi method analytical tool?
A) Implementation
9.Inflation in a PESTLE would be listed in the Political analysis.
A) False
10.In market segmentation, what does the term ‘psychographic segmentation’ refer to?
A) Segmentation based on consumer behavior and lifestyle
11.Which of the following is a method to determine the effectiveness of a marketing strategy?
A) Monitoring sales performance and customer feedback
12.Surveys are a type of:
A) Primary research
13.Top-down approach to market sizing is also called:
A) Chain Ratio Method
14.Marketing is defined as the process that ensures the right products and services get to the right markets at the right time and at the right price.
A) True
15.What is a key component of a marketing strategy?
A) Identifying and analyzing target markets