BUSINESS Marketing Review Exam Q & A 2026 (Complete And Verified Study material) (21pages) LEARNEXAMS

1. What is the primary goal of market segmentation?

 A. To identify the most profitable market

 B. To understand different customer needs

 C. To create a competitive advantage

 D. To reduce marketing costs

 Answer: B. Understanding different customer needs is the primary goal

of market segmentation. It allows businesses to tailor their products and

marketing efforts to specific groups, enhancing customer satisfaction and

loyalty.

2. Which of the following best describes the concept of 'marketing mix'?

 A. A combination of factors that can be controlled by a company to

influence consumers to purchase its products.

 B. A fixed set of tactics used in advertising.

 C. The mix of different marketing strategies for different products.

 D. The price range of products offered by a company.

 Answer: A. The 'marketing mix' refers to the combination of factors

(product, price, place, promotion) that can be controlled by a company to

influence consumers to purchase its products.

3. In the context of marketing, what does the acronym SWOT stand for?

 A. Strengths, Weaknesses, Opportunities, Threats

 B. Strategic, Willingness, Operational, Tactical

 C. Segmentation, Willingness, Optimization, Technological

 D. Service, Worth, Offerings, Trends

 Answer: A. SWOT stands for Strengths, Weaknesses, Opportunities,

and Threats. It is a strategic planning tool used to evaluate these four

elements of a business or project.

4. What role does 'customer relationship management' (CRM) play in

marketing?

 A. CRM is a tool for managing a company's interactions with potential

customers.

 B. CRM is a pricing strategy to attract customers.

 C. CRM is a distribution channel used in place strategies.

 D. CRM is a promotional tool used in advertising.

 Answer: A. Customer relationship management (CRM) is a tool for

managing a company's interactions with current and potential customers,