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






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






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






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






5. The combination of product lines offered by a manufacturer






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






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






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






9. 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






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






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






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






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






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






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






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






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






19. The process of testing products among potential users






20. 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






21. Costs that change according to the level or production






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






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






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






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






26. 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






27. The combination of promotional tools an organization uses






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






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






30. 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






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






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






33. 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






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






35. 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






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






37. 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






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






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






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






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






42. 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






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






44. Directs heavy advertising and sales promotion efforts toward consumers






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






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






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






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






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






50. 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







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