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. 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






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






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






4. 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






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






6. 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






7. 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






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






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






10. 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.






11. The combination of promotional tools an organization uses






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






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






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






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






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






17. 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






18. 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.






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






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






21. 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






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






23. A marketing intermediary that sells to other organizations






24. 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






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






26. Costs that change according to the level or production






27. 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






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






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






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






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






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






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






34. 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






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






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






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






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






39. The combination of product lines offered by a manufacturer






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






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






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






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






44. Directs heavy advertising and sales promotion efforts toward consumers






45. 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






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






47. 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






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






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






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