What do you mean by Marketing?
Marketing refers to any actions a company takes to attract an audience to the company’s product or services through high-quality messaging.
Marketing aims to deliver standalone value for prospects and consumers through content, with the long-term goal of demonstrating product value, strengthening brand loyalty, and ultimately increasing sales.
Thus, Marketing Management is considered the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
Marketing is the process of creating, promoting, and delivering products or services to customers with the goal of satisfying their needs and wants, and ultimately, generating revenue for a business or organization. It involves identifying customer needs, researching and understanding the competition, developing and pricing products or services, promoting them through advertising, public relations, and sales efforts, and distributing them through various channels.
Marketing is a broad field that encompasses many different activities, such as market research, product development, pricing strategy, branding and positioning, advertising and promotion, sales and distribution, customer service, and more. Effective marketing requires a deep understanding of customer behavior, market trends, and competitive dynamics, as well as strong analytical and creative skills.
Fundamentals of Digital Marketing Questions
Q 1 What is the first step in the marketing process?
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a) define market research objectives b) develop a research plan c) implement a research plan d) none of above
Correct: define market research objectives
Q 2 How would one classify the strategy of introducing a new product in an existing market?
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a) Market development b) Market penetration
c) Product development d) Diversification
Correct: Product development
Q 3 What is advertising and personal selling in marketing strategy referred to as?
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a) Place b) Product
c) Price d) Promotion
Correct: Promotion
Q 4 What is the arrangement of different market performance measures as a single display to monitor results classified as?
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a) Return on investment b) Marketing dashboard
c) Marketing scorecard d) Both a and b
Correct: Marketing dashboard
Q 5 What are the unfavourable external factors or trends that may pose a challenge to a company called?
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a) Strengths b) Weaknesses
c) Opportunities d) Threats
Correct: Threats
Q 6 What is the kind of understanding that the company gets from marketing information known as?
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a) marketing information system b) customer insights
c) competitive marketing database d) variable testing data base
Correct: customer insights
Q 7 What is the strategy of launching a new product in a new market called?
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a) Market penetration1 b) Product development c) Market development d) Diversification
Correct: Diversification
Q 8 Classify the kind of advantage gained by offering greater value to customers as compared to competitors.
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a) competitive advantage b) corporate advantage
c) branding advantage d) premium advantage
Correct: competitive advantage
Q 9 What is the company whose strategies are based on the idea of delivering superior brand value to its targeted segment classified as?
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a) competitor centered company b) customer centered company
c) profit centered company d) market centered company
Correct: customer centered company
Q 10 What is the process of comparing a company’s products or services to those of leading firms to improve performance and quality called?
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a) strategic analysis b) corporate image analysis
c) benchmarking d) customer value analysis
Correct: benchmarking
Q 11 What do the total number/levels of intermediaries represent in a marketing channel?
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a) width of channel b) length of channel
c) divisors of channel d) flexibility of channel
Correct: length of channel
Q 12 What is the disagreement between different marketing channels regarding the roles, rewards and goals called?
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a) channel conflict b) marketing conflict
c) direct conflict d) indirect channel conflict
Correct: channel conflict
Q 13 What are the basic competitive strategies?
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a) cost leadership b) focusing strategy c) differentiation d) all of above
Correct: all of above
Q 14 Regent Seven Seas Cruises invites customers by using the tagline “luxury goes exploring”. What is this an example of?
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a) geographic segmentation b) income segmentation
c) psychographic segmentation d) behavioral segmentation
Correct: psychographic segmentation
Q 15 In the external environment, what are the favorable factors and trends classified as?
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a) Strengths b) Weaknesses
c) Opportunities d) Threats
Correct: Opportunities
Q 16 In marketing channels, what is the conflict that occurs at different levels of the same marketing channel classified as?
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a) vertical conflict b) horizontal conflict
c) steep conflict d) slope conflict
Correct: vertical conflictWhich of the following does not fall under segmentation?
Q 17 Which of the following does not fall under segmentation?
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a) Psychographic b) Behavioural c) Demographic d) Procedural
Correct: Procedural
Q 18 What are the factors that affect the company’s ability to maintain customer relationships?
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a) Marketing environment b) Marketing dashboard
c) Marketing plan d) Both a and b
Correct: Marketing environment
Q 19 Name some trait(s)/characteristic(s) of the most successful products.
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a) differentiated b) solve customer problems c) offering customer value proposition d) all of above
Correct: all of above
Q 20 Lexus targets customers from the ‘global elite’ segment regardless of the country in which they live. What is this approach called?
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a) intermarket segmentation b) intramarket segmentation
c) income segmentation d) psychographic segmentation
Correct: intermarket segmentation
Q 21 What is the strength/position of competitors in the decline stage of the product life cycle?
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a) few b) continuously growing
c) stable but begins declining d) declining in number
Correct: declining in number
Q 22Which of these strategies focuses on smaller segments and attracts only a few competitors?
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a) mass marketing b) segmented marketing
c) niche marketing d) micromarketing
Correct: `niche marketing
Q 23 How does one record the sales in the maturity stage of a product life cycle?
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a) low sales b) rapidly rising c) very peaked d) declining Correct: very peaked
Q 24 What is the market which is divided on the basis of ‘income scale and family size of customers an example of?
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a) geographic segmentation b) demographic segmentation
c) psychographic segmentation d) behavioral segmentation
Correct: demographic segmentation
Q 25 With whom should one develop a strong relationship in order to ensure marketing success?
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a) Suppliers and customers b) Marketing intermediaries
c) Competitors d) All of above
Correct: All of above
Q 26 What does the macro environment of any company or organization include?
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a) the cultural environment b) the demographic environment c) customers in international markets d) both a and b
Correct: both a and b
Q 27 What type of an example is an Apple customer who keeps buying the same brand in every purchase?
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a) user status
c) loyalty status
Correct: loyalty status
Q 28 Considering competitive positions, name the other person besides the market leader who is fighting hard in the industry to increase market share.
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a) market follower b) market niche
c) market challenger d) market leader
Correct: market challenger
Q 29 Which of these companies’ strategies are in accordance with the strategy of other competitive firms in the industry?
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a) profit centered company b) market centered company
c) competitor centered company d) customer centered company
Correct: competitor centered company
Q 30 Considering competitive positions, name the company which serves small customer segments that remain ignored by other companies in the industry. Question Image:
a) market follower b) market niche
c) market challenger d) market leader
Correct: market niche
Q 31 Name the process of assessing objectives, strengths, weaknesses, strategies and reaction patterns of competitors.
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a) branding analysis b) premium analysis
c) competitor analysis d) corporate analysis
Correct: competitor analysis
Q 32 According to competitive positions, what is the main focus of the market follower strategy?
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a) multiple niching b) full frontal attack
c) expand market share d) follow at a distance
Correct: follow at a distance
Q 33 Considering competitive positions, what is the company having the largest share of the market in its industry?
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a) market challenger b) market leader c) market follower d) market niche
Correct: market leader
Q 34 According to competitive positions, what is the main focus of market leader strategy?
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a) expand market share b) indirect attack
c) multiple niching d) full frontal attack
Correct: expand market share
Q 35 In the stages of the adoption process, when does the customer decide to become a regular user?
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a) awareness stage b) interest stage
c) evaluation stage d) adoption
Correct: adoption
Q 36 In which factor is the segmentation of international markets on the basis of the stability of governments included?
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a) geographic location b) cultural factors
c) economic factors d) political and legal factors
Correct: political and legal factors
Q 37 What is the type of segmentation done on the basis of regions or areas to live, such as urban, suburban and rural areas ?
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a) geographic segmentation b) demographic segmentation
c) psychographic segmentation d) behavioral sepgmentation
Correct: geographic segmentation
Q 38 Name the trait(s) of the adopter group ‘laggards’
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a) deliberate b) guided by respect c) skeptical d) tradition bound
Correct: tradition bound
Q 39 What type of buyers does the market consist of?
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a) Potential buyers b) Actual buyers
c) Both a and b d) None of the above
Correct: Both a and b
Q 40 What is the purpose of market offerings?
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a) Create a need or want b) Satisfy a need or want c) Both a and b d) None of above
Correct: Satisfy a need or want
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