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






2. 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






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






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






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






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






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






9. 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






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






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






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






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






14. A marketing intermediary that sells to other organizations






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






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






17. 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






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






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






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






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. The combination of product lines offered by a manufacturer






23. 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






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






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






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






27. 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






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






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






30. Costs that change according to the level or production






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






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






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






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






35. 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






36. 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






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






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






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






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






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






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






43. 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.






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






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






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






47. 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






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






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






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