MARK 4000 - Wang Test 2 Review | Latest Update | 2024/2025 | 100% Pass
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Course
MRK 4000 -
Institution
MRK 4000 -
MARK 4000 - Wang Test 2 Review |
Latest Update | 2024/2025 | 100% Pass
What is market segmentation?
Market segmentation is the process of dividing a broad consumer or business market into
sub-groups of consumers based on some shared characteristics.
What is a unique selling proposition (U...
MARK 4000 - Wang Test 2 Review |
Latest Update | 2024/2025 | 100% Pass
What is market segmentation?
✔✔ Market segmentation is the process of dividing a broad consumer or business market into
sub-groups of consumers based on some shared characteristics.
What is a unique selling proposition (USP)?
✔✔ A unique selling proposition (USP) is a feature or characteristic of a product that makes it
stand out from competitors and appeals to a specific target market.
What does "brand equity" refer to?
✔✔ Brand equity refers to the value a brand adds to a product or service based on consumer
perception and brand reputation.
What is a "penetration pricing strategy"?
✔✔ A penetration pricing strategy involves setting a low initial price to attract customers and
gain market share quickly.
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, What is "customer lifetime value"?
✔✔ Customer lifetime value is the total revenue a business can expect from a single customer
over the entire duration of their relationship.
What is "differentiation" in marketing?
✔✔ Differentiation is the process of distinguishing a product or offering from others to make it
more attractive to a specific target market.
What is "market positioning"?
✔✔ Market positioning is the strategy used to create a distinct image and identity for a product
or brand in the minds of consumers.
What is "the 4 Ps" in marketing?
✔✔ The 4 Ps in marketing are Product, Price, Place, and Promotion, which are the key elements
involved in marketing a product or service.
What is "customer segmentation"?
✔✔ Customer segmentation is the practice of dividing a market into distinct groups of buyers
who have different needs, characteristics, or behaviors.
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