Business marketing study quizz

What is the purpose of marketing in business?

Marketing is crucial to creating consumer awareness and is usually the primary revenue-making activity of a business. It is integral to strategic planning and it actively aligns with the business’s objectives.

Social media has had a significant impact on consumer behavior, as it has changed the way people interact, share information, and make purchasing decisions.

Marketing for Dummies will walk you through the latest marketing technologies and methods, including customer experience, retargeting, digital engagement across all channels and devices, organic and paid SEO, Google ads, social media campaigns and posts, influencer and content marketing, and so

The purpose of marketing in business is to influence consumers to make decisions that benefit the company's bottom line, regardless of the impact on the customer's needs or wants.

What are the four Ps of marketing?

The marketing soup

Product, Price, Place, and Promotion.

Perfection, Peter Griffin, Gorgon, George Bartley

Production, Placement, Prize, Personalisation

What is customer segmentation?

Separating people into groups of 4 and advertising as such

Cutting the customers into nice neat blocks and sorting them into sizes

Customer segmentation is the process of dividing a customer base into segments based on shared characteristics, behaviors, and needs. By understanding customer segments, companies can more effectively target their advertising, pricing, and other marketing efforts towards those individuals or groups who are most likely to respond positively.

Customer segmentation is the opposition of customers in the financial sector of a business to ensure the highest gross outcome. It allows for the business to achieve higher marketing strategies and a wider market audience

What is the market that uses natural resources and the production and sale of raw materials, usually used by primary producers.

Natural Markets

Environmental market

Industrial market

Resource market

What is the importance of the marketing mix?

The marketing mix is the set of key strategies and tactics that a company uses to promote its products or services, including product development, pricing, distribution, and marketing

It allows for key growth in the financial sector of an industry business. It creates a diverse array of informative plaques and provides interest for the consumer to acquire hardware

Congress make no law respecting an establishment of religion or prohibiting its free exercise. It protects freedom of speech, the press, assembly, and the right to petition the Government for a redress of grievances.

The Marketing mix is a key aspect of business growth. It provides a critical insight into how a business operates and functions on a fundamental level. It is a set of tactics used to combat competitors and create interest in a company.

What are the Four main dimensions of market segmentation

Geographical, Demographical, Psychographic and behavioural.

Locational, Dimensional, Physiological, Activical

Spiritual, Emotional, Physical, Mental

Geologicographical, Psychophysiological, Demonological, Benihavouiral

What is a service, idea or good that is purchased to produce other products. For example, partly processed goods, supplies or equipment utilised in production processes?

Industrial market

Production Market

Indoproductional Market sphere

Creational production chain

Which two of these are actual types of product differentiation

Accents, coloration, saturation, distance

Pricing, Design, After-sales service

Features, Quality, Appearance (packaging and branding)

Vocal, Promotional, Philosophical, diggable

What does Price in the 4 Marketing Ps refer to?

Refers to the channels or venues through which the products are made available

A product or service will have in the mind of potential customers, and developing messaging and communication strategies to reinforce that position.

Refers to the cost or fee associated with the goods or services.

The associated value of the product on display to the environment

What is the intermediate market?

Large quantities that have been supplied by the manufacturers, that had been divided into smaller units by the wholesaler. They are usually not sold directly to the consumer though there are exceptions such as Bunnings and CostCo.

Large portions of products shipped to a warehouse that then divies the products into seperate units based on physical differences (such as size or colour) that is then sold directly to the consumer. (such as stores like woolworths or coles)

Ļ�日の空はめちゃ美しい。

Wholesalers who break down the large quantities of loot plundered from manufacturers to smaller units.

What are the three categories of Consumer Markets?

Isosceles Marketing, Market Equilateral, Scalene Markets

Obtuse Markets, Acute Markets, Reflex markets

Mass Market, Market differentiation, acute markets

Mass Market, Market Segment, Niche Market

What is Mass marketing?

The type of markets that targets every person in the world, it usually consists of mayonnaise, ice, egg shells, home decor and Lego bricks

The type of marketing that is aimed at the majority of consumers, it usually consists of building supplies, seeds and other similar products

The type of marketing that targets a product at all types of consumers. Usually reserved for food items, petrol and utilities in modern marketing.

The type of marketing that targets a specific demographic or people by insulting their special features. This usually consists of food items, petrol and modern utilities.

What does promotion refer to in the 4 Ps of Marketing?

Refers to the methods used to raise awaresness, of certain products, such as extremely political jokes, eggs and plants

Refers to the methods used to raise awareness about the products or services, such as advertising, public relations, or special incentives.

Refers to the methodology conducted by businesses to maximise awareness towards certain products or people. (Joshua's involvement in frognappings for example)

Refers to the promotion of employees to allow for further investments in raising awareness of HR violations and other such infringements.

What part of consumer market refers to the breaking up of the mass market into a more targeted section based on a key aspect of the group. (such as age, gender or amount of hair on their heads)

Market division

Market segmnetitaon

Market dissection

Market segmentation

Arrrrr me maties, What be a Niche Market Arrrrggggg?

A Niche Market be what divies the loot between me maties and me foes, we divie them equally among me crew, as me am a fair captin. I divie it up to tarrrget me smallest crewmates.

A Niche market divides a large market into reduced sections or micro-segments, it is usually specialised for a select group of small amounts of people.

A Niche market is what occurs when the large market share is divided into smaller segments specifically catered towards minority groups and other such individuals.

A nieche market divides a large portion of the population into small segments that are easily marketed to.

What is the purpose of the Australian Consumer Law? (select all that apply)

Covers relationships between all stakeholders in the market (e.g. suppliers, wholesalers, retailers and consumers.

Promotes fair trade and encourages competition

Promotes monopolisation and disfiguration.

The australian consumer law promotes cacophony, it allows for aquiverent actions to take place and acts as an umbrage for non-sequitur businesses to become ubiquitous.

In areas such as product safety, labelling, price monitoring and unfair market practices it creates protection for the consumers.

Targeted messaging and thoughtful outreach, businesses can leverage their expertise and value proposition to build meaningful relationships with stakeholders and drive meaningful long-term success.

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