Mark101

PART A – Multiple Choice Questions

1. A ________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want.

A) brand positioning

B) market segment

C) market offering

D) market mix

2. Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities.

E) outsourcing

F) marketing

G) positioning

H) production

3. Which of the following customer questions is answered by a company's value proposition?

I) "Why should I buy your brand rather than a competitor's?"

J) "What is your company's estimated customer equity?"

K) "What is the budget allocated by your company for research and development?"

L) "What is the financial stability of your company?"

4. Crocus, a gift store, specializes in serving customer segments that major competitors overlook and ignore. Which of the following best describes Crocus?

M) Market follower

N) Market challenger

O) Laggard

P) Market nicher

5. Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________.

Q) positioning

R) segmenting

S) satisficing

T) prospecting

6. Dan has been directed to study the actors close to a company that affect its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the ________ of the company.

U) political environment

V) demographic environment

W) macroenvironment

X) microenvironment

7. The 83 million children born between 1977 and 2000 are known as the ________.

Y) Millennials

Z) Generation...