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Marketing
What is the difference between a want and a demand?
A want is an item that fulfils a need and a demand is a want backed by the ability to pay.
Marketing
Which of the following is the true 8 demand types?
Negative demand, irregular demand, latent demand, non-existent demand, declining demand, full demand, overfull demand and unwholesome demand.
Marketing
What is a latent demand?
A demand that doesn't exist yet, but will in the future.
Marketing
Explain what STP means
Segment, target and position. Identify market segment, then zoom in on target group and finally position your product.
Marketing
Which of the following is true about value propositions?
Value propositions are how the consumer ranks their buying options.
Marketing
What is free purchasing power?
It describes the consumer's ability to substitute different goods for each different need.
Marketing
Which of the following are the 4 aspects to the hollistic marketing concept?
Relationship marketing, external marketing, performance marketing and internal marketing
Marketing
What does the hollistic concept of integrated marketing describe?
The tracking of performance measures such as finances, returns on marketing investment (ROMI) and benchmarking.
Marketing
Which is true about core competencies?
Core competencies are how the business communicates the value of their products/services.
Marketing
According to the value chain, which strategies should you follow if:
a) You're good at support processes
b) You're good at primary activities
a) if you're good at support processes, then you should aim to be a cost leader.
b) If you're good at primary activities, you need a differentiation strategy.
Marketing
In the value delivery process, which of the 4P's are involved in providing the value.
Product, price, place and promotion
Marketing
What is a need and what are the 5 different types?
Needs a basic items every human needs to exist.
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