Question 1

What is the primary goal of marketing?

Accepted Answer

To satisfy customer needs and wants

Answer

To create products only for profitability

Answer

To promote products without understanding the market

Answer

To manage finances of a company

Question 2

What is a target market?

Accepted Answer

A specific group of consumers at which a company aims its products

Answer

The total population of a country

Answer

All consumers regardless of preferences

Answer

The competitors in a market

Question 3

What is a unique selling proposition (USP)?

Accepted Answer

A feature or benefit that makes a product stand out from competitors

Answer

A pricing strategy for selling products

Answer

A way to analyze market trends

Answer

A type of marketing campaign

Question 4

What is market segmentation?

Accepted Answer

The process of dividing a broad consumer or business market into sub-groups

Answer

A strategy to increase production capacity

Answer

A technique for promoting a single product

Answer

The method of setting product prices

Question 5

What is market mapping?

Accepted Answer

A technique used to analyze a market by plotting competitors and products

Answer

An approach to programming in software development

Answer

A method to calculate pricing strategies

Answer

A strategy for personal finance management

Question 6

What is the primary purpose of market mapping?

Accepted Answer

To identify market gaps and opportunities for growth

Answer

To create financial forecasts for companies

Answer

To establish product pricing based on production costs

Answer

To determine the tax obligations of businesses

Question 7

What does product orientation primarily focus on?

Accepted Answer

The features and quality of the product

Answer

Brand image

Answer

Price competitiveness

Answer

Market demand and customer preferences

Question 8

What does asset led orientation focus on in business strategy?

Accepted Answer

Leveraging existing resources and strengths

Answer

Maximizing short-term profits

Answer

Reducing operational costs significantly

Answer

Expanding into new markets without resources

Question 9

Which of the following best describes a key benefit of asset led orientation?

Accepted Answer

Improved resource efficiency

Answer

Decreased customer satisfaction

Answer

Higher employee turnover

Answer

Increased debt levels

Question 10

What does market led orientation focus on in a business?

Accepted Answer

Meeting customer needs and preferences

Answer

Maximizing production efficiency

Answer

Reducing costs at all costs

Answer

Expanding market share without customer input

Question 11

Which of the following best describes a key characteristic of market led orientation?

Accepted Answer

Adaptability to changing consumer preferences

Answer

Emphasis on competitor imitation

Answer

Focus on internal processes over market research

Answer

Strict adherence to original product designs

Question 12

How does a market led orientation typically impact product development?

Accepted Answer

It leads to products that better satisfy customer demands

Answer

It results in more expensive production processes

Answer

It focuses solely on technology advancement

Answer

It prioritizes company profits over customer needs

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