Tag: concept of market and marketer

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Questions Related to concept of market and marketer

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

A bear market means

  1. A market wherein share prices are falling consistently

  2. A market wherein share prices are rising consistently

  3. A market wherein share prices are stable

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A bear market is characterized by a prolonged period of falling share prices, typically accompanied by widespread pessimism among investors.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

The most structured marketing problems are likely to be those dealing with __________.

  1. Product

  2. Promotion

  3. Place

  4. Price
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Marketing problems related to Place (distribution channels, logistics) are often more structured and quantifiable than those related to the more subjective areas of Promotion or Product design. These logistical aspects rely on established data and operational metrics.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Which strategy consists of marketing existing products, often with only cosmetic change to customers in related market areas?

  1. Market Development

  2. Product Development

  3. Diversification

  4. Market Penetration
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Market development involves taking existing products into new market segments or geographic areas. While the product remains largely the same, the target audience or location changes.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Which strategy Involves entry into fields where both products and markets are significantly different than those of a firm's initial base?

  1. Expansion

  2. Innovation

  3. Diversification

  4. Concentration
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Diversification is the strategy of entering entirely new markets with entirely new products, which carries the highest risk and potential for growth in the Ansoff Matrix.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Which strategy tries to achieve growth through new products in existing markets?

  1. Market Development

  2. Growth Strategy

  3. Product Development

  4. Market Penetration
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Product development involves creating new products to sell to an existing customer base. This leverages the firm's current market knowledge to introduce innovations.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Which one is not a prerequisite of a perfect market?

  1. Existence of large number of buyers and sellers in the market

  2. Free flow of market information among the players

  3. Free entry and free exit

  4. Intervention of the Government
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A perfect market assumes no external interference. Government intervention, such as taxes, subsidies, or regulations, distorts the market mechanism and prevents it from being 'perfect'.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Which strategy consists of marketing existing products in new markets?

  1. Market Development

  2. Product Development

  3. Diversification

  4. Market Penetration
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Market development is defined as selling existing products in new markets. This is a standard growth strategy for firms looking to expand their geographic or demographic reach.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

To organize the world's information and make it universally accessible and useful its mission of -

  1. Nike

  2. Facebook

  3. Google

  4. Sony
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

This is the well-known corporate mission statement of Google, which focuses on indexing and organizing global information.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

_________ is marketing of domestically produced goods in a foreign country and is a traditional and well established method of entering foreign market.

  1. Joint venture

  2. Exporting

  3. Licensing

  4. Importing
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Exporting is the most common and traditional method of international market entry, involving the sale of goods produced in the home country to foreign buyers.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

When a firm directs its resources to the profitable growth of a single product, in a single market with a single dominant technology, it follows ________________.

  1. market development

  2. product development

  3. diversification

  4. market penetration
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Market penetration focuses on increasing sales of existing products in existing markets. It is the strategy of maximizing the current business model without changing the product or the market.