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






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. 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






4. 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






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






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






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






8. The combination of promotional tools an organization uses






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






10. 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






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






12. Directs heavy advertising and sales promotion efforts toward consumers






13. 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






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






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






16. 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






17. The ingredients that go into a marketing program: product - price - place - and promotion






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






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






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






21. 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






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






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






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






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






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






27. The process of testing products among potential users






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






29. 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






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






31. 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.






32. 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






33. 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.






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






35. 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






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






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






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






39. 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






40. 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






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






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






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






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






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






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






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






48. 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






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






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