Marketing strategy: Practice Questions

Which method is most likely used by an enterprise specifically to retain existing customers?

A small local bakery wants to advertise a new range of cupcakes to residents in the immediate neighborhood. Which communication method would be most cost-effective and suitable for this target market?

A company discovers through market research that a major competitor has reduced its prices. If the company's primary goal is customer retention, which strategy would be most appropriate?

Which of the following is an example of a method used to measure customer satisfaction and retention?

An entrepreneur is deciding between using a focus group or secondary research to understand why sales are falling. Why might they choose a focus group?

State the meaning of market segmentation.

Explain one reason why an enterprise would choose to use niche marketing rather than mass marketing.

Analyse why a business might need to adapt its marketing strategy when expanding from a local to an international market.

A successful clothing retailer wants to expand its operations.
(a) Explain the term brand loyalty.
(b) Discuss two methods this retailer could use to maintain brand loyalty among its existing customers.

A company that manufactures luxury electric bicycles wants to enter a new international market.
(a) Evaluate whether the company should use niche marketing or mass marketing for this expansion.
(b) Justify your answer by considering the nature of the product.