FBLA Marketing and Advertising 1 — Questions and Answers
Question 1: What are the 'Four Ps' of the marketing mix?
- People, Process, Positioning, Promotion
- Product, Price, Place, Promotion (Correct answer)
- Planning, Pricing, Publicity, Performance
- Product, Profit, Place, People
Correct answer: Product, Price, Place, Promotion
The Four Ps of marketing are Product, Price, Place, and Promotion — the core elements of any marketing strategy.
Question 2: What is 'market segmentation'?
- Splitting a company into smaller divisions
- Dividing a broad market into subgroups with shared characteristics (Correct answer)
- Setting different prices for different products
- Measuring advertising effectiveness
Correct answer: Dividing a broad market into subgroups with shared characteristics
Market segmentation divides potential customers into groups based on shared characteristics such as demographics, behavior, or geography.
Question 3: Which type of advertising strategy targets existing customers to encourage repeat purchases?
- Pioneering advertising
- Comparative advertising
- Retention/relationship marketing (Correct answer)
- Institutional advertising
Correct answer: Retention/relationship marketing
Retention or relationship marketing focuses on keeping current customers satisfied and loyal through personalized communication and loyalty programs.
Question 4: What is 'brand equity'?
- The total sales revenue of a brand
- The value a brand adds to a product beyond its functional benefits (Correct answer)
- The cost to produce a branded product
- The number of brand employees
Correct answer: The value a brand adds to a product beyond its functional benefits
Brand equity is the added value a well-known, trusted brand name gives a product, often allowing a premium price.
Question 5: What is 'demographic segmentation' in marketing?
- Dividing markets by consumer values and lifestyles
- Classifying customers by age, gender, income, and education (Correct answer)
- Targeting customers based on location
- Grouping customers by purchase behavior
Correct answer: Classifying customers by age, gender, income, and education
Demographic segmentation categorizes consumers using measurable population characteristics like age, gender, income, and education level.
Question 6: What does 'SEO' stand for and what is its purpose?
- Sales Engagement Operations; tracking sales pipeline
- Search Engine Optimization; improving website visibility in organic search results (Correct answer)
- Social Engagement Online; managing social media accounts
- Strategic Email Outreach; cold email marketing
Correct answer: Search Engine Optimization; improving website visibility in organic search results
SEO (Search Engine Optimization) is the practice of improving a website's content and structure to rank higher in unpaid search engine results.
FBLA Marketing and Advertising 1
What are the 'Four Ps' of the marketing mix?