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. Products that give high immediate satisfaction but may hurt consumers in the long run.






2. 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






3. A brand that has exclusive protection for both its brand name and and its design






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






5. 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






6. The strategy by which one or more dominant firms set the pricing practices that all competitors in an industry follow






7. 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






8. A facility designed to meet the needs of the owner. It may be based on size - temperature control - or refrigeration






9. 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






10. Any activity that fulfills a human want or need and returns money to those who provide it






11. Pricing goods and services at price points that make the product appear less expensive than it is.






12. Dividing the market by age - education. and income level






13. All the linked activities various organizations must perform to move goods and services from the source of raw materials to ultimate consumers






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






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






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






17. Giving a limited number of dealers the exclusive right to distribute the company's products in their territories






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






19. The area of logistics that involves bringing raw materials - packaging - other goods and services - and information from suppliers to producers






20. 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






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






22. 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






23. Items with unique characteristics that buyers are willing to expend considerable effort to obtain






24. The process used to determine profitability at various levels of sales






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






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






27. The process of testing products among potential users






28. The combination of product lines offered by a manufacturer






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






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






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






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






33. Businesses selling to consumers; Business-to-Consumer Market






34. Relatively inexpensive - frequently purchased items for which buyers exert minimal purchasing effort






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






36. 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.






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






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






39. Distribution that sends products to only a preferred group of retailers in an area






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






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






42. 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






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






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






45. 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






46. 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






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






50. Distribution that sends products to only one retail outlet in a given geographic area