CBA CBA Marketing & Customer Relations 1

Question 1

What does the marketing concept known as the '4 Ps' include?

Accepted Answer

Product, Price, Place, Promotion

Answer

The traditional marketing mix consists of Product, Price, Place, and Promotion, collectively known as the 4 Ps.

Question 2

What is market segmentation?

Accepted Answer

Dividing a broad market into distinct subgroups of consumers with common needs or characteristics

Answer

Market segmentation divides a heterogeneous market into smaller, more homogeneous groups to allow for targeted marketing strategies.

Question 3

Which metric measures the total revenue a business can expect from a single customer account throughout the business relationship?

Accepted Answer

Customer lifetime value (CLV)

Answer

Customer lifetime value (CLV) estimates the total net profit a company expects to earn from its entire relationship with a customer.

Question 4

What is the primary purpose of a SWOT analysis in marketing planning?

Accepted Answer

To assess a company's internal strengths and weaknesses alongside external opportunities and threats

Answer

A SWOT analysis evaluates an organization's Strengths, Weaknesses, Opportunities, and Threats to inform strategic marketing decisions.

Question 5

What is 'brand equity' in marketing?

Accepted Answer

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

Answer

Brand equity represents the premium value that a recognizable brand name adds to a product compared to a generic equivalent.

(CBA) Certified Business Administrator Practice Test