Which marketing approach focuses on building long-term customer loyalty through personalised experiences? A. Selling approach B. Production approach C. Relationship marketing approach D. Digital marketing approach
C. Relationship marketing approach
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True or False: Marketing is only about advertising and selling products.
False
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10
True or False: The intermediate market involves reselling goods to final consumers with no significant change to the product.
True
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10
Which of the following is the best example of interdependence between marketing and operations? A. Finance approving a budget B. HR training sales staff C. Marketing forecasting demand so operations can plan production D. R&D developing a n
C. Marketing forecasting demand so operations can plan production
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True or False: The selling approach emerged because demand exceeded supply.
False โ it emerged when supply exceeded demand.
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25
Provide one example of a business operating in each of the following markets: Resource Market Consumer Market Niche Market
Resource Market: A company hiring employees in the Australian labour market. Consumer Market: Woolworths selling groceries to households. Niche Market: Tesla
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10
Complete the sentence: Marketing aims to create value for both ______ and the ______.
customers; business
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20
Explain how marketing and R&D (Research and Development) depend on each other.
Marketing provides customer insights that guide product development, while R&D designs products that meet those needs โ creating a continuous feedback loop.
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25
Describe how marketing supports the triple bottom line and give an example.
Marketing supports economic, social, and environmental goals by promoting ethical, sustainable practices. Example: The Body Shop markets cruelty-free, ethically
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Explain how marketing contributes to a businessโs long-term success.
Marketing builds brand loyalty, identifies new opportunities, and aligns products with customer needs to achieve sustainable profitability and growth.
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15
Which of the following is NOT part of the strategic role of marketing? A. Conducting market research B. Developing pricing strategies C. Manufacturing goods D. Building brand loyalty
C. Manufacturing goods
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15
Which business function is responsible for allocating and monitoring marketing budgets? A. Human Resources B. Operations C. Finance D. Research and Development