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Practical Business Knowledge > Marketing and Sales > Flashcards

Marketing and Sales Flashcards

1
Q

What is the primary goal of marketing?

A

To identify and satisfy customer needs.

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2
Q

True or False: Sales strategy and marketing strategy are the same.

A

False

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3
Q

What does the acronym SWOT stand for?

A

Strengths, Weaknesses, Opportunities, Threats.

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4
Q

Fill in the blank: The 4 P’s of marketing are Product, Price, Place, and ______.

A

Promotion

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5
Q

What is market segmentation?

A

The process of dividing a target market into smaller, more defined categories.

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6
Q

Which of the following is not a type of market segmentation? A) Demographic B) Behavioral C) Random D) Geographic

A

C) Random

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7
Q

What is a Unique Selling Proposition (USP)?

A

A feature that makes a product stand out from its competitors.

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8
Q

True or False: Customer relationship management (CRM) focuses solely on sales.

A

False

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9
Q

What is the purpose of a marketing funnel?

A

To visualize the customer journey from awareness to purchase.

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10
Q

What does B2B stand for?

A

Business to Business.

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11
Q

What does the term ‘lead generation’ refer to?

A

The process of attracting and converting strangers into potential customers.

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12
Q

Which of the following is a digital marketing strategy? A) Cold calling B) Email marketing C) Direct mail D) Trade shows

A

B) Email marketing

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13
Q

What is the significance of customer feedback in marketing?

A

It helps businesses improve products and services based on customer preferences.

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14
Q

Fill in the blank: The process of gathering and analyzing data about customers is known as ______.

A

Market research

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15
Q

What is a target market?

A

A specific group of consumers at which a company aims its products and services.

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16
Q

True or False: Branding is only about logos and colors.

A

False

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17
Q

What is content marketing?

A

Creating and sharing valuable content to attract and engage a target audience.

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18
Q

Which metric is commonly used to measure customer engagement?

A

Click-through rate (CTR).

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19
Q

What does the term ‘conversion rate’ mean?

A

The percentage of users who take a desired action, such as making a purchase.

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20
Q

What is social media marketing?

A

Using social media platforms to promote products and engage with customers.

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21
Q

Fill in the blank: A ______ is a structured plan outlining marketing goals and strategies.

A

Marketing plan

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22
Q

What is the role of a sales funnel?

A

To guide potential customers through the buying process.

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23
Q

True or False: A higher price always indicates a higher quality product.

A

False

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24
Q

What is an influencer in marketing?

A

An individual with the power to affect purchase decisions of others due to their authority or popularity.

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25
Q

Which method is used to determine pricing strategies?

A

Cost-plus pricing.

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26
Q

What is the primary focus of public relations?

A

Managing the public image of a company.

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27
Q

What does the term ‘brand loyalty’ mean?

A

The tendency of consumers to continue buying the same brand over time.

28
Q

Fill in the blank: A ______ is a person who has expressed interest in a company’s products or services.

A

Lead

29
Q

What is the purpose of market analysis?

A

To assess the viability of a product or service in a specific market.

30
Q

True or False: Email marketing is considered an outdated strategy.

A

False

31
Q

What is a value proposition?

A

A statement that explains how a product solves customers’ problems or improves their situation.

32
Q

Which of the following is a common sales tactic? A) Upselling B) Downsizing C) Cross-selling D) Both A and C

A

D) Both A and C

33
Q

What is search engine optimization (SEO)?

A

The process of optimizing a website to rank higher in search engine results.

34
Q

Fill in the blank: A ______ is a short, catchy phrase used to promote a product.

A

Slogan

35
Q

What is the goal of a marketing campaign?

A

To achieve specific objectives within a set timeframe.

36
Q

What does PPC stand for in online advertising?

A

Pay-Per-Click.

37
Q

True or False: Customer segmentation can lead to more personalized marketing efforts.

A

True

38
Q

What is the importance of a competitive analysis?

A

To understand competitors’ strengths and weaknesses in the market.

39
Q

What is the definition of a sales pitch?

A

A presentation aimed at persuading potential customers to purchase a product or service.

40
Q

Fill in the blank: A ______ is a marketing strategy that involves collaborating with other businesses to promote products.

A

Partnership

41
Q

What is the primary purpose of advertising?

A

To inform and persuade potential customers about a product or service.

42
Q

True or False: Networking is an important aspect of sales strategy.

A

True

43
Q

What is the role of analytics in marketing?

A

To track and measure the effectiveness of marketing efforts.

44
Q

What is a call to action (CTA)?

A

A prompt that encourages users to take a specific action, such as signing up or making a purchase.

45
Q

Which of the following is a key benefit of digital marketing? A) Global reach B) Limited audience C) High cost D) None of the above

A

A) Global reach

46
Q

What is affiliate marketing?

A

A performance-based marketing strategy where a business rewards affiliates for each customer brought by their marketing efforts.

47
Q

Fill in the blank: A ______ is a detailed account of a company’s marketing strategies and performance.

A

Marketing report

48
Q

What does the term ‘customer lifetime value’ (CLV) refer to?

A

The total revenue a business can expect from a customer over the entire duration of their relationship.

49
Q

True or False: Social proof can enhance a brand’s credibility.

A

True

50
Q

What is the purpose of a promotional strategy?

A

To communicate the benefits and value of a product to potential customers.

51
Q

What does CRM software help businesses do?

A

Manage customer interactions and data throughout the customer lifecycle.

52
Q

Fill in the blank: The ______ is the pathway through which customers interact with a brand.

A

Customer journey

53
Q

What is the significance of A/B testing in marketing?

A

To compare two versions of a marketing asset to determine which performs better.

54
Q

What is the role of a marketing manager?

A

To oversee the marketing strategy and ensure alignment with business goals.

55
Q

True or False: All marketing strategies require a large budget.

A

False

56
Q

What is the benefit of using data analytics in sales?

A

To identify trends and make informed decisions to improve sales performance.

57
Q

What is guerrilla marketing?

A

An unconventional marketing strategy aimed at promoting a product in a creative and low-cost way.

58
Q

Fill in the blank: A ______ is a marketing tool that allows businesses to communicate directly with their audience.

A

Newsletter

59
Q

What is influencer marketing?

A

Collaborating with influential people to promote a brand or product.

60
Q

What does the term ‘brand equity’ refer to?

A

The value added to a product by having a well-known brand name.

61
Q

True or False: Personalization is a key trend in modern marketing.

A

True

62
Q

What is a marketing mix?

A

The combination of factors that can be controlled by a company to influence consumers’ purchase decisions.

63
Q

Fill in the blank: The ______ is the gap between the price a customer is willing to pay and the actual price.

A

Price perception

64
Q

What is the main purpose of promotional campaigns?

A

To increase awareness and sales of a product or service.

65
Q

What is the role of storytelling in marketing?

A

To create emotional connections with the audience and enhance brand perception.

66
Q

True or False: Retargeting is an effective way to re-engage potential customers.

A

True

Practical Business Knowledge (13 decks)

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