MARK 3000: McManus Test 2 Questions and Answers | Latest Update | 2024/2025 | Rated A+
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Course
MRK 3000: McManus
Institution
MRK 3000: McManus
MARK 3000: McManus Test 2 Questions
and Answers | Latest Update | 2024/2025
| Rated A+
What is a market trend, and why is it important?
A market trend is a general direction in which a market is moving, important for anticipating
changes and adapting strategies.
How does a company defi...
MARK 3000: McManus Test 2 Questions
and Answers | Latest Update | 2024/2025
| Rated A+
What is a market trend, and why is it important?
✔✔ A market trend is a general direction in which a market is moving, important for anticipating
changes and adapting strategies.
How does a company define its unique selling proposition (USP)?
✔✔ By identifying what makes its product or service different and more valuable than
competitors’.
What role does market positioning play in branding?
✔✔ It helps establish how a brand is perceived relative to competitors in the minds of
consumers.
What is the significance of a customer journey map?
✔✔ It outlines the stages a customer goes through from initial contact to post-purchase, helping
improve the customer experience.
1
,How can businesses utilize seasonal marketing?
✔✔ By creating promotions or campaigns that align with seasonal events or holidays to boost
sales.
What is the purpose of a marketing audit?
✔✔ To review and evaluate the effectiveness of marketing activities and strategies.
How does a business use demographic data in marketing?
✔✔ To target and tailor marketing messages based on characteristics like age, gender, and
income.
What is the role of social proof in marketing?
✔✔ To build trust and credibility through testimonials, reviews, and endorsements.
How does a company use cross-selling techniques?
✔✔ By recommending related or complementary products to existing customers to increase
sales.
2
,What is a product differentiation strategy?
✔✔ A method to distinguish a product from competitors by emphasizing unique features or
benefits.
What is a marketing segment?
✔✔ A distinct group within a market with specific needs and characteristics.
How does customer retention impact business growth?
✔✔ It helps increase repeat sales and customer loyalty, leading to steady revenue growth.
What is a sales strategy?
✔✔ A plan outlining how a business will sell its products or services to achieve its sales goals.
What is the importance of understanding consumer demographics?
✔✔ It helps tailor marketing efforts to specific age groups, income levels, and other
demographic factors.
How does content marketing contribute to brand awareness?
3
, ✔✔ By creating and sharing valuable content to attract and engage the target audience.
What is a marketing funnel, and what are its stages?
✔✔ A model that describes the stages from attracting leads to converting them into customers,
including awareness, consideration, and decision.
How does competitive pricing influence market position?
✔✔ It can attract customers by offering better value compared to competitors, impacting market
share.
What is a promotional strategy?
✔✔ A plan to communicate and persuade customers through methods like advertising, sales
promotions, and public relations.
How can businesses use customer personas in marketing?
✔✔ To design targeted marketing campaigns that appeal to specific customer profiles based on
behavior and preferences.
What is a brand audit, and why is it conducted?
4
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