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






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






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






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






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






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






7. The combination of product lines offered by a manufacturer






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






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






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






13. 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






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






15. 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.






16. 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






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






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






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






20. 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






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






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






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






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






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






26. 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






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






28. A marketing intermediary that sells to other organizations






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






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






31. 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






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






33. 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






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






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






36. The combination of promotional tools an organization uses






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






38. 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






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






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






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






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






43. The process of testing products among potential users






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






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






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






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






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






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






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