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






2. 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






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






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






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






7. 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






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






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






10. 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






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






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






13. 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






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






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






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






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






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






19. The combination of promotional tools an organization uses






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






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






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






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






24. 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






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






26. 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.






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






28. 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






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






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






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






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






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






34. 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






35. 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






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






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






38. Directs heavy advertising and sales promotion efforts toward consumers






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






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






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






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






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






44. The process of testing products among potential users






45. A marketing intermediary that sells to other organizations






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






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






48. Giving a limited number of dealers the exclusive right to distribute the company's products in their territories






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






50. 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