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






3. 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






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






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






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






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






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






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






10. 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






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






12. 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






13. 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






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






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






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






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






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






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






20. 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






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






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






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






24. 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.






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






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






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






28. 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






29. 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






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






31. 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






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






33. 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






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






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






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






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






38. Directs heavy advertising and sales promotion efforts toward consumers






39. 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.






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






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






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






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






44. 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






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






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






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






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






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






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