Marketing & Business Development Flashcards

What is the main benefit of a strategic partnership in business development?

Answer: Access to new markets or capabilities without building them alone

Partnerships let each party leverage the other's customers, reach, or capabilities.

Which statement about brand positioning is correct?

Answer: It defines how a brand is perceived relative to competitors

Positioning is the distinct place a brand occupies in customers' minds compared with alternatives.

A proposal wins fewer deals than expected. What should be reviewed first?

Answer: Win/loss feedback from prospects

Win/loss analysis reveals why buyers chose or rejected the proposal.

What does conversion rate measure in a marketing campaign?

Answer: The percentage of people who complete a desired action

Conversion rate is desired actions divided by total visitors or recipients.

Which approach reflects consultative selling?

Answer: Asking diagnostic questions to understand needs before recommending

Consultative selling centers on uncovering client problems and tailoring solutions.

Why do businesses maintain a CRM system?

Answer: To track client interactions and manage the pipeline

A CRM centralizes contact history and pipeline data to improve follow-up and forecasting.

A company sells to a niche audience with specialized needs. Which strategy best fits?

Answer: Focused niche marketing with tailored messaging

Niche audiences respond better to specific, relevant messaging than to broad generic campaigns.