Test your basic knowledge |

Marketing Mix

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. A theoretical model of what happens to sales and profits of a product class over time. The four stages are: introductory - growth - maturity - and decline






2. Private companies that combine less-than carload or less-than truckload shipments from several different businesses and deliver them to their destinations; in international business - companies licensed by the U.S. Maritime Commission to handle expo






3. Distribution that puts products into as many retail outlets as possible






4. An item priced at or below cost to draw customers into a store






5. Products is priced low to attract many customers and discourage competition






6. An inventory management approach in which supplies arrive just when needed for production or resale






7. Organizations that assist in moving goods and services from producers to businesses (B2B) and from businesses to consumers (B2C)






8. The ingredients that go into a marketing program: product - price - place - and promotion






9. A way of analyzing the business to identify its Strengths - Weaknesses - Opportunities and Threats






10. A group of products that are physically similar or are intended for a similar market






11. Product - price - place - and promotion; 4 P's of Marketing






12. Doing whatever is necessary to transfer ownership from one party to another - including providing credit - delivery - installation - etc.






13. The producer uses advertising - personal selling - sales promotion - and all other promotional tools to convince wholesalers and retailers to stock and sell merchandise - pushing it through the distribution system to the stores






14. Everything from paying customers to say positive things on the Internet (ex. Twitter) to setting up multilevel selling schemes whereby consumers get commissions for directing friends to specific Web sites






15. Advertisers pay to put their products into TV shows and movies where the audience will see them






16. Manages the flow of finished products and information to business buyers and ultimately to consumers like you and me






17. The combination of promotional tools an organization uses






18. Without charge for delivery to and placing on board a carrier at a specified point; determines the point at which title for the shipment passes from vendor to purchaser






19. Setting a high price when introducing a product that has little competition and will appeal to customers who like to be the first to have the latest products.






20. A business established or operated under an authorization to sell or distribute a company's goods or services in a particular area






21. Products that don't carry the manufacturer's name but carry a distributor or retailer's name instead






22. Marketing intermediaries who bring buyers and sellers together and assist in negotiating an exchange but don't take title of the goods






23. A name - symbol - or other device identifying a product; it is officially registered with the U.S. government and its use is legally restricted to its owner






24. The act of identifying any person or organization with the potential to buy a product and compiling that information in an organized manner for future use






25. Involve sales promotional arrangements between one or more retailers or manufacturers and combine their resources to do a promotion that creates additional sales for each partner






26. A philosophy that involves everyone in an organization in a continual effort to improve quality and achieve customer satisfaction






27. Relate to a persons level of income - education and employment






28. The face-to-face presentation and promotion of goods and services - including the salesperson's search for new prospects and follow-up service after the sale






29. Pricing strategy that adds a predetermined percentage to the cost of products.






30. A whole set of marketing intermediaries such as brokers - agents - wholesalers - and retailers - that join together to transport and store goods in their path from producers to consumers






31. Used when a person needs little information about a product






32. Adding value by providing fast - friendly service during and after the sale and by teaching customers how to best use products over time






33. The process of finding small but profitable market segments and designing or finding products for them






34. A pricing policy whereby a firm charges a relatively low price for a product initially as a way to reach the mass market






35. People tell other people about products they've purchased.






36. Any information about an individual - product - or organization that's distributed to the public through the media and is not paid for or controlled by the seller






37. The management function that evaluates public attitudes - changes policies and procedures in response to the public's requests - and executes a program of action and information to earn public understanding and acceptance






38. Intermediary/middlemen (wholesaler - retailer) involved in channels of distribution






39. The planning - implementing - and controlling of the physical flow of materials - final goods - and related information from points of origin to points of consumption to meet customer requirements at a profit.






40. Final customers don't recognize a brand at all—even though middlemen may use the brand name for identification and inventory control.






41. A marketing intermediary that sells to other organizations






42. People or businesses that move products between producers and final users






43. Packaging that is used by companies to promote social and political causes.






44. The route a product follows and the businesses involved in moving a product from the producer to the final consumer






45. A form of market coverage whereby only a small number of all available outlets are used to expose products






46. The want-satisfying ability - or value - that organizations add to goods or services by making them more useful or accessible to consumers than they were before. the six kinds are form - time - place - possession - information - and service






47. Costs that change according to the level or production






48. A long-lasting product that can be used and depreciated for many years






49. Extending an existing brand name to new forms - colors - sizes - ingredients - or flavors of an existing product category






50. Grouping two or more products together and pricing them as a unit