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 pricing strategy based on what all the other companies are doing






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






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






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






5. 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






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






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






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






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






10. 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






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






12. 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






13. 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






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






15. 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






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






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






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






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






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






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






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






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






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






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






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






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






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






29. Costs that change according to the level or production






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






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






32. 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






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






34. 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






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






36. The process of testing products among potential users






37. 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






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






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






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






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






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






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






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






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






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






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






48. The combination of promotional tools an organization uses






49. 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






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