DECA Marketing Principles 2

Question 1

A company lowers its price on a product to match a competitor's price. This strategy is best described as:

Accepted Answer

Competitive pricing

Answer

Competitive pricing means setting prices based on what rivals charge for similar products.

Question 2

Which element of the marketing mix describes the path a product takes from producer to final consumer?

Accepted Answer

Place

Answer

Place (distribution) covers the channels and logistics used to deliver a product to consumers.

Question 3

A business tracks which customers buy most frequently and spends more to retain them. This is an example of:

Accepted Answer

Customer relationship management (CRM)

Answer

CRM focuses on building long-term relationships with high-value customers to maximize retention and lifetime value.

Question 4

When a brand sponsors a local charity 5K race, the primary marketing goal is usually to:

Accepted Answer

Generate public relations goodwill

Answer

Event sponsorship builds brand awareness and positive community perception, which is a public relations objective.

Question 5

Which type of research gathers numerical data that can be statistically analyzed?

Accepted Answer

Quantitative research

Answer

Quantitative research produces measurable numerical data, such as survey ratings or sales figures, allowing statistical analysis.

(DECA) Distributive Education Clubs of America Practice Test