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. 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.






2. 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






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






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






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






6. The process of testing products among potential users






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






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






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






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






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






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






13. 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






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






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






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






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






18. 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






19. 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






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






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






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






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






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






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






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






27. 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






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






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






30. 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






31. Adding value to products by having them where people want them






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






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






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






35. The degree of brand loyalty in which a customer is aware that a brand exists and views the brand as an alternative purchase if their preferred brand is unavailable






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






37. 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






38. The combination of promotional tools an organization uses






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






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






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






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






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






44. A marketing intermediary that sells to other organizations






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






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






47. 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






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






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






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