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






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






3. 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






4. A pricing strategy based on what all the other companies are doing






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






6. Non branded products that usually sell at a sizable discount compared to national or private-label brands






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






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






9. 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.






10. All the individuals and organizations that want goods and services to use in producing other goods and services or to sell - rent - or supply goods to others






11. A manager who helps direct the activities of a whole channel and tries to avoid or solve channel conflicts






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






13. The combination of product lines offered by a manufacturer






14. 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






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






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






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






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






19. Costs that change according to the level or production






20. 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.






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






22. 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






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






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






25. 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






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






27. Strategy in which a new product is priced high to make optimum profit while there is little competition






28. 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






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






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






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






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






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






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






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






36. 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






37. Directs heavy advertising and sales promotion efforts toward consumers






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






39. The use of multiple modes of transportation to complete a single - long-distance movement of freight






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






41. 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






42. 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






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






44. The combination of promotional tools an organization uses






45. 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






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






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






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






49. 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






50. 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