Question : A product's unique selling proposition (USP) refers to:
Option 1: The lowest price in the market
Option 2: The product's distinct features or benefits
Option 3: The product's promotional activities
Option 4: The product's packaging design
Correct Answer: The product's distinct features or benefits
Solution : The correct answer is (b) The product's distinct features or benefits.
A product's unique selling proposition (USP) refers to the distinct features, benefits, or characteristics that set it apart from competitors in the market. It is the unique value proposition that a product offers to customers, emphasizing its unique qualities or benefits that are differentiating and compelling to the target market. The USP helps communicate why customers should choose a particular product over competing alternatives. It highlights the product's unique attributes that address customer needs, solve problems, or provide a competitive advantage.
Question : If a consumer's income rises or the price of a complementary good falls, the-
Option 1: The product's demand curve shifts to the right.
Option 2: The product's demand curve shifts to the left.
Option 3: The product's supply curve shifts to the right.
Option 4: The product's supply curve shifts to the left.
Question : It includes deciding about the features,quality packaging,labelling and branding of the product. Which element of marketing mix is highlighted in the given statement?
Option 1: Product
Option 2: Price
Option 3: Promotion
Option 4: Place
Question : Which function of marketing is highlighted in the given statement? Statement: It involves taking decisions regarding features, design, shape, size appearance, etc., about the product.
Option 1: Gathering and analysing market information
Option 2: Product designing and development
Option 3: Packaging and labelling
Option 4: Branding
Question : It refers to additional package which provides additional layer of protection to the product. Which level of packaging is highlighted in the given statement?
Option 1: Primary packaging
Option 2: Secondary packaging
Option 3: Transportation packaging
Option 4: None of the above
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