22 Lecture - Marketing

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22 Lecture

MGT211

Midterm & Final Term Short Notes

Marketing

Marketing is the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. It involves identifying customer needs and wants, developing products or services t


Important Mcq's
Midterm & Finalterm Prepration
Past papers included

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  1. What is the primary goal of marketing? a) To increase profits b) To increase sales c) To satisfy customer needs d) To maximize shareholder value Answer: c) To satisfy customer needs

  2. Which of the following is not part of the marketing mix? a) Price b) Product c) Promotion d) Personnel Answer: d) Personnel

  3. Which of the following is an example of a marketing intermediary? a) Wholesaler b) Manufacturer c) Retailer d) None of the above Answer: a) Wholesaler

  4. Which of the following is a type of consumer products? a) Industrial products b) Convenience products c) Specialty products d) All of the above Answer: b) Convenience products

  5. What is market segmentation? a) The process of creating a unique selling proposition b) The process of identifying groups of customers with similar needs or characteristics c) The process of setting prices for products or services d) The process of promoting products or services Answer: b) The process of identifying groups of customers with similar needs or characteristics

  6. Which of the following is an example of a marketing objective? a) Increase sales by 10% in the next quarter b) Launch a new product c) Increase customer satisfaction d) All of the above Answer: a) Increase sales by 10% in the next quarter

  7. What is a SWOT analysis? a) An analysis of the company's internal and external environment b) An analysis of the company's financial statements c) An analysis of the company's marketing mix d) An analysis of the company's production processes Answer: a) An analysis of the company's internal and external environment

  8. What is market share? a) The percentage of profits earned by a company in a given market b) The percentage of customers who are satisfied with a company's products or services c) The percentage of the total market that a company's product or service holds d) The percentage of a company's revenue that is reinvested in marketing Answer: c) The percentage of the total market that a company's product or service holds

  9. What is a marketing plan? a) A document outlining a company's marketing objectives and strategies b) A document outlining a company's financial projections c) A document outlining a company's production processes d) A document outlining a company's organizational structure Answer: a) A document outlining a company's marketing objectives and strategies

  10. What is the difference between a product and a service? a) A product is tangible, while a service is intangible b) A product is sold to businesses, while a service is sold to consumers c) A product is more expensive than a service d) A product has a shorter life cycle than a service Answer: a) A product is tangible, while a service is intangible



Subjective Short Notes
Midterm & Finalterm Prepration
Past papers included

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  1. What is the difference between marketing and advertising? Marketing encompasses all activities related to promoting and selling a product or service, including market research, product development, pricing, distribution, and advertising. Advertising, on the other hand, is just one of the tactics used in marketing to communicate a product or service's benefits to potential customers.

  2. What is a marketing plan? A marketing plan is a comprehensive document outlining a company's marketing strategy, goals, tactics, and budget for a specified period, usually a year. It helps ensure that marketing efforts are aligned with business objectives and that resources are allocated effectively.

  3. What is a target market? A target market is a specific group of people that a company aims to sell its products or services to. Companies identify their target market based on factors such as demographics, psychographics, and behavior.

  4. What is a USP? A USP, or unique selling proposition, is a statement that communicates a product or service's unique benefits or qualities that distinguish it from its competitors. It helps a company differentiate its offering and create a competitive advantage.

  5. What is branding? Branding refers to the process of creating a unique name, design, and identity that distinguishes a company's products or services from its competitors. It helps create recognition, build trust, and communicate the company's values and promise to its customers.

  6. What is a call to action (CTA)? A call to action is a statement or button on a website, email, or advertisement that encourages a viewer to take a specific action, such as subscribing to a newsletter, buying a product, or registering for an event.

  7. What is a SWOT analysis? A SWOT analysis is a tool used to evaluate a company's strengths, weaknesses, opportunities, and threats. It helps a company identify its competitive advantages and disadvantages, and develop strategies to capitalize on opportunities and mitigate risks.

  8. What is a marketing mix? A marketing mix refers to the set of tactics used by a company to promote its products or services. It includes the 4 Ps: product, price, promotion, and place, and helps ensure that a company's marketing efforts are aligned with its target market and business goals.

  9. What is influencer marketing? Influencer marketing is a tactic that involves partnering with individuals who have a large following on social media or other platforms to promote a company's products or services. It helps a company reach a wider audience and build credibility and trust with potential customers.

  10. What is customer segmentation? Customer segmentation is the process of dividing a company's target market into smaller groups based on common characteristics, such as demographics, behavior, or psychographics. It helps a company tailor its marketing efforts to specific customer segments and improve the effectiveness of its messaging.

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