Business Degree Marketing Principles

Question 1

What are the traditional '4 Ps' of the marketing mix?

Accepted Answer

Product, Price, Place, Promotion

Answer

People, Process, Performance, Profit

Answer

Planning, Positioning, Pricing, Publicity

Answer

Product, Publicity, People, Process

Question 2

What is 'market segmentation'?

Accepted Answer

Dividing a broad market into distinct subgroups of consumers

Answer

Setting a price range for different income levels

Answer

Analyzing competitors in a market

Answer

Distributing products across different regions

Question 3

What is a 'unique selling proposition' (USP)?

Accepted Answer

The distinct benefit that makes a product stand out from competitors

Answer

A discount offered only to loyal customers

Answer

A legal patent protecting a product design

Answer

A pricing strategy based on production costs

Question 4

What is 'brand equity'?

Accepted Answer

The added value a brand name gives to a product beyond its functional attributes

Answer

The monetary value of company trademarks on the balance sheet

Answer

The percentage of market share a brand controls

Answer

The cost of developing and launching a new brand

Question 5

Which research method gathers data through surveys, questionnaires, or structured interviews?

Accepted Answer

Quantitative research

Answer

Qualitative research

Answer

Ethnographic research

Answer

Observational research

Question 6

What does 'customer lifetime value' (CLV) represent?

Accepted Answer

The total net profit a company expects from a customer over their entire relationship

Answer

The first-purchase revenue generated by a new customer

Answer

The annual retention rate of existing customers

Answer

The average transaction value per customer visit