GENERAL KNOWLEDGE

Detailed explanation-1: -Sometimes a marketing manager might hold beliefs that are not consistent with the customer data. One reason celebrity spokespeople are thought to be effective is that ordinary people aspire to be like the celebrity, in whatever manner that is achievable.

Detailed explanation-2: -Data sources for segmenting businesses and consumers tend to be the same. Most markets are comprised of customers whose tastes are very similar. As an entrepreneurial marketer, it is important to understand the demographics of the market in which you intend to operate.

Detailed explanation-3: -Which of the following statements is true of a SWOT analysis? It focuses on organizational resources when examining internal strengths and weaknesses.

Detailed explanation-4: -Customer satisfaction is important because it illustrates whether your customer base likes what you’re doing. Research shows that high satisfaction leads to greater customer retention, higher lifetime value, and a stronger brand reputation.

Detailed explanation-5: -Which statement supports the idea that good marketing is not an easy task? Thousands of new products fail in the marketplace each year.