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. 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.






2. 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.






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






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






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






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






7. 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






8. The combination of product lines offered by a manufacturer






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






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






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






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






13. 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






14. A marketing intermediary that sells to other organizations






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






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






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






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






19. The process of testing products among potential users






20. 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






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






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






23. 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






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 pricing strategy based on what all the other companies are doing






26. 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






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






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






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






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






31. 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






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






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






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






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






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






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






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






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






40. 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






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






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






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






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






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






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






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






48. 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






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






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