Title: Marketing Mix
Course: Question Banks

Q: Which of the following would be considered convenience products?
- Tires and car batteries
- Shirts and shoes
- Cell phones and laptops
- Soft drinks and chewing gum
A: Soft drinks and chewing gum

Q: ________ products are usually more expensive and the consumer is more likely to compare a number of options to assess quality, cost, and features.
- Convenience
- Specialty
- Unsought
- Shopping
A: Shopping

Q: Which of the following is an example of an unsought product?
- TV
- Coffee
- Car
- Pest control service
A: Pest control service

Q: A set of attributes or features (e.g. name, term, design, symbol, reputation, etc.) that distinguishes the goods and services of one seller from another is known as ________.
- a trademark
- a marketing strategy
- an advertising strategy
- a brand
A: a brand

Q: ________ are a direct result of past advertising, promotion, product reputation, and customer experience.
- Brand attributes
- Trademarks
- Copyrights
- Brand perceptions
A: Brand perceptions

Q: How does effective branding typically benefit businesses?
- It improves production output.
- It increases competition.
- It directly lowers cost of goods sold
- It builds customer loyalty.
A: It builds customer loyalty.

Q: ________ is an arrangement in which two established brands collaborate to offer a single product or service that carries both brand names.
- Brand extension
- Brand licensing
- Franchising
- Co-branding
A: Co-branding

Q: This strategy uses a strong brand—typically the company name—as the identifying brand name for a range of products
- co-branding
- new brand strategy
- franchising
- branded house
A: branded house

Q: In this image, the retailer’s brand Great Value is shown next to the well-known brand Kraft. Great Value is an example of:
- A house brand
- No brand
- Personal brand
- A private label brand
A: A private label brand

Q: High costs, low sales volume, and little competition are common characteristics associated with which of the following stages of the product life cycle?
- Growth stage
- Maturity stage
- Decline state
- Market introduction stage
A: Market introduction stage

Q: During the ________ of the product life cycle, the company’s profitability begins to rise and public awareness increases.
- decline stage
- maturity stage
- market introduction stage
- growth stage
A: growth stage

Q: Which of the following statements is FALSE?
- During the decline product life cycle stage sales volume declines.
- During the maturity product life cycle stage sales volume peaks and market saturation is reached.
- How fast a product go through the life cycle stages depends on several factors include it’s market, use, and consumer characteristics.
- All products follow a smooth and predictable growth path.
A: All products follow a smooth and predictable growth path.

Q: During the ________ of the product life cycle, companies need to devote a significant marketing budget to create broad awareness and educate the public about the new product.
- growth stage
- maturity stage
- decline stage
- market Introduction stage
A: market Introduction stage

Q: During the ________ of the product life cycle, the growth of a product begins to plateau, and the company must take advantage of economies of scale and marketing messages and promotions that seek to remind customers about a great product, differentiate from competitors, and reinforce brand loyalty.
- market introduction stage
- growth stage
- decline stage
- maturity stage
A: maturity stage

Q: Which of the following statements is FALSE?
- During the decline product life cycle stage, the primary focus for marketers is to transition customers to newer products that are earlier in the product life cycle and have more favorable economics.
- Not all products follow a smooth and predictable growth path.
- During the decline product life cycle stage, sales volume is decreasing and businesses are unlikely to be able to save the product.
- The primary challenges during the maturity phase are to identify a differentiated position in the market that allows the product to capture a significant portion of the demand.
A: The primary challenges during the maturity phase are to identify a differentiated position in the market that allows the product to capture a significant portion of the demand.

Q: Which of the following is the first stage of the new-product development process?
- screening product ideas
- business case analysis
- market research analysis
- generating new product ideas
A: generating new product ideas

Q: During the ________ stage of the new-product development process the company seeks to answer questions such as (1) what is the market opportunity for this product? (2) how does this product impact the brand? and (3) what are the costs to bring the product to market?
- launch
- evaluation
- market research
- business case analysis
A: business case analysis

Q: Which of the following is the last stage of the new-product development process?
- launch
- marketing development
- market research
- evaluation
A: evaluation

Q: ________ is the process of coordinating all messages, media and activities used by an organization to communicate with the market across different communication methods
- An advertising campaign
- Guerrilla Marketing
- Content marketing
- Integrated marketing communication
A: Integrated marketing communication

Q: The basic objective of all marketing communication methods is to ________.
- generate profits
- increase sales
- increase brand awareness
- communicate, compete, and convince
A: communicate, compete, and convince

Q: Which of the following statements regarding marketing campaigns is TRUE?
- The integrated marketing communication efforts need to include many themes.
- A marketing campaign only includes advertising.
- A marketing campaign is most effective when it uses a single channel.
- A campaign is a coordinated series of marketing communication efforts built around a single theme designed to reach a particular goal.
A: A campaign is a coordinated series of marketing communication efforts built around a single theme designed to reach a particular goal.

Q: The ________ refers to how marketers combine a range of marketing communication methods to execute their marketing activities.
- product mix
- marketing campaign
- advertising mix
- promotion mix
A: promotion mix

Q: Promotion mix includes ________.
- retailers, wholesalers, agents, and brokers.
- discount stores, department stores, warehouse, and chain stores.
- retailers, public relations, brokers, and chain stores.
- advertising, public relations, personal selling, sales promotion, direct marketing, digital marketing, and guerrilla marketing.
A: advertising, public relations, personal selling, sales promotion, direct marketing, digital marketing, and guerrilla marketing.

Q: You were recently hired by Polly’s Petals, a little flower shop in your neighborhood. The owner would like you to think about the shop’s promotion mix and come up with some new ideas. What are some of the things you need to do?
- Speak to the shop’s floral suppliers and take advantage of their special promotions so that you can purchase your flowers for less money.
- Take a look at the financial records for the company and determine if the company can spend more money on different types of flowers so they have a better mix of flower types to sell.
- Interview the shop’s current customers to find out what new types of flowers and related products to sell.
- Consider the shop’s current advertising and digital marketing efforts and make suggestions for improvements and additions.
A: Consider the shop’s current advertising and digital marketing efforts and make suggestions for improvements and additions.

Q: The primary disadvantage of advertising is ________.
- Effectiveness: people can fast forward through even the best TV advertisements.
- Advertisements: they become outdated and need to be updated to remain effective.
- Time: it can take a creative team several weeks to create a single advertisement.
- Cost: depending on the medium, advertising can be very expensive.
A: Cost: depending on the medium, advertising can be very expensive.

Q: The primary advantage of public relations is ________.
- It is very effective at sending the company’s intended message through a medium many people can understand.
- Control of public opinion because public relations can control the way people feel about a product or service.
- It has the highest reach of all marketing efforts.
- It is believable because publicity is seen to be more objective, people tend to give it more weight and find it more credible.
A: It is believable because publicity is seen to be more objective, people tend to give it more weight and find it more credible.

Q: ________ are examples of sales promotions.
- Advertising and personal selling.
- Public relations and discounts.
- Educational blogs and email newsletters.
- Samples, coupons, contests, and sweepstakes.
A: Samples, coupons, contests, and sweepstakes.

Q: The most significant strength of ________ is its flexibility. Salespeople can tailor their presentations to fit the needs, motives, and behavior of individual customers.
- consumer sales promotions
- promotion mix
- B2B sales promotions
- personal selling
A: personal selling

Q: The purpose of ________ is to reach and appeal directly to individual consumers and to use information about them to offer products, services and offers that are most relevant to them and their needs.
- public relations
- sales promotion
- digital marketing
- direct marketing
A: direct marketing

Q: ________ is/are interactive, shareable, highly measurable and data driven.
- Personal selling
- Sales promotions
- Public relations
- Digital marketing tools
A: Digital marketing tools

Q: Which of the following are ways an organization may use IMC to support their marketing efforts?
- A company may conduct research by asking existing customers about their likes and dislikes.
- A company may use social media to promote a new product.
- A company may use email marketing to promote a new product.
- A company may use a coordinated message in advertising, direct marketing and digital marketing materials.
A: A company may use a coordinated message in advertising, direct marketing and digital marketing materials.

Q: For each ________, new display materials must be prepared, all reflecting common objectives, messages, design, and other elements to maximize the ________ impact.
- Market, organization’s
- Product, product’s
- Buyer persona, IMC campaign
- IMC campaign, campaign’s
A: IMC campaign, campaign’s

Q: A successful IMC campaign could include which of the following items:
- Coupons, special sales, promotions, social media
- Speaking with customers, compiling data, formulating a target market, communicating with the target market to create sales.
- Sales promotions, email marketing, social media marketing, and retargeting campaigns.
- Advertising, Direct marketing, Personal selling, Sales promotions, Digital marketing, Public relations
A: Advertising, Direct marketing, Personal selling, Sales promotions, Digital marketing, Public relations

Q: ________ is a set of interdependent organizations involved in the process of making a product or service available for use or consumption, as well as providing a payment mechanism for the provider.
- A wholesaler co-op
- A retailer network
- A supply chain
- The channel of distribution
A: The channel of distribution

Q: Which of the following statements is TRUE?
- The channel management process is rigid and never changes.
- A channel of distribution is only for physical products, not services.
- Channels must be wholly owned by the companies using them.
- Channels should have certain distribution objectives guiding their activities.
A: Channels should have certain distribution objectives guiding their activities.

Q: ________ is the movement of physical product from the manufacturer through all the parties who take physical possession of the product until it reaches the ultimate consumer.
- Ownership flow
- Information flow
- Lead flow
- Product flow
A: Product flow

Q: ________ is the flow of persuasive communication in the form of advertising, personal selling, sales promotion, and public relations.
- Ownership flow
- Information flow
- Lead flow
- Promotion flow
A: Promotion flow

Q: ________ is the movement of title through the channel.
- Promotion flow
- Information flow
- Lead flow
- Ownership flow
A: Ownership flow

Q: When consumers purchase products from Etsy.com or a bake sale at an elementary school, it is an example of ________.
- agent channel
- retail channel
- indirect channel
- direct channel
A: direct channel

Q: Which of the following statement regarding retail channel is CORRECT?
- The retailer markets and sells the goods on behalf of the consumer.
- Retailers may not sell products online.
- Retailers can only sell products via a single channel.
- The retail channel is different from the direct channel in that the retailer doesn’t produce the product.
A: The retail channel is different from the direct channel in that the retailer doesn’t produce the product.

Q: The ________ looks very similar to the retail channel. It is primarily engaged in buying and usually storing and physically handling goods in large quantities, which are then resold (usually in smaller quantities) to retailers or to industrial or business users.
- agent channel
- retail channel
- direct channel
- wholesale channel
A: wholesale channel

Q: ________ play an important role as intermediaries acting as a link in the distribution process to help move goods between producers and retailers.
- Agents
- Retailers
- Direct distributors
- Wholesalers
A: Wholesalers

Q: ________ offer warehousing and transportation services.
- Agents
- Retailers
- Direct distributors
- Wholesalers
A: Wholesalers

Q: Which of the following statements regarding wholesalers is CORRECT?
- Wholesalers typically buy small quantity of goods to avoid risks.
- Wholesalers do not bear the risk for the products until they are delivered.
- Wholesalers produce all of the goods they distribute.
- Wholesalers fill a role in the promotion of the products that they distribute.
A: Wholesalers fill a role in the promotion of the products that they distribute.

Q: Which of the following statements regarding retailers is CORRECT?
- Retailing only involves activities selling to individuals or family needs.
- Retail sales only occur in a store setting.
- Retailers only sell their products through a single channel.
- Retail sales occur in stores but also happen online, through catalogs, by automatic vending machines, and in hotels and restaurants.
A: Retail sales occur in stores but also happen online, through catalogs, by automatic vending machines, and in hotels and restaurants.

Q: Which of the following is an example of a warehouse retailer that provides a bare-bones shopping experience at very low prices?
- Ross Dress for Less
- Macy’s
- Target
- Costco
A: Costco

Q: Which of the following approaches brings together national chains and local ownership?
- discount retailer
- supermarket
- department stores
- franchise
A: franchise

Q: The ________ is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.
- retail channel
- wholesale channel
- distribution channel
- supply chain
A: supply chain

Q: The marketing channel generally focuses on how to increase ________ to the customer by having the right product in the right place at the right price at the moment the customer wants to buy.
- cost
- price
- output
- value
A: value

Q: Which of the following statements is TRUE?
- The supply chain is narrower than marketing channels.
- Marketing channels are not part of the marketing mix.
- Marketing channels are purely used to increase revenue.
- Marketing channels are purely customer facing.
A: Marketing channels are purely customer facing.

Q: Which of the following is the Price-Value Equation from the customer’s perspective?
- Value = Perceived Benefits − Actual Costs
- Value = Actual Benefits − Perceived Costs
- Value = Perceived Benefits − Actual Benefits
- Value = Perceived Benefits − Perceived Costs
A: Value = Perceived Benefits − Perceived Costs

Q: Which of the following is an example of the “value-added element”?
- good marketing strategy
- more commercials
- targeted marketing messages
- broad selection of sizes
A: broad selection of sizes

Q: Which of the following statements is TRUE?
- Viewing price from the customer’s point of view does not influence marketing strategy.
- Even if a customer thinks an item is provides a great benefit, the customer will still only consider the price of the item when considering its value.
- In the eyes of customers, price is the only measure of value.
- Perceived costs include the actual dollar amount printed on the product plus a host of additional factors.
A: Perceived costs include the actual dollar amount printed on the product plus a host of additional factors.

Q: Which of the following is NOT one of the common pricing objectives?
- profit-oriented pricing
- competitor-oriented pricing
- sales-oriented pricing
- product-oriented pricing
A: product-oriented pricing

Q: ________ pricing doesn’t fully take into account the value of the product to the customer with regard to the value of competitive products.
- Profit-oriented pricing
- Consumer-oriented pricing
- Product-oriented pricing
- Competitor-oriented pricing
A: Competitor-oriented pricing

Q: The focus of ________ is providing value to the customer.
- profit-oriented pricing
- competitor-oriented pricing
- product-oriented pricing
- consumer-oriented pricing
A: consumer-oriented pricing

Q: ________ is the difference between how much a good costs and the actual price for which it sells.
- Net margin
- Revenue margin
- Contribution margin
- Gross margin
A: Gross margin

Q: ________ is a major disadvantage of cost-plus pricing strategy.
- Flexibility
- Profitability
- Customer perception
- Inflexibility
A: Inflexibility

Q: The difference between the average cost and price of all merchandise in stock is called ________.
- gross margin
- net margin
- contribution margin
- markup
A: markup

Q: ________ are reductions in base price given as the result of a buyer purchasing some predetermined amount of merchandise.
- Trade discounts
- Cash discounts
- Quality discounts
- Quantity discounts
A: Quantity discounts

Q: ________ are price reductions given to middlemen (e.g., wholesalers, industrial distributors, retailers) to encourage them to stock and give preferred treatment to an organization’s products.
- Cash discounts
- Quantity discounts
- Loyalty discounts
- Trade discounts
A: Trade discounts

Q: ________ are price reductions given for out-of-season merchandise—snowmobiles discounted during the summer, for example. The intention of such discounts is to spread demand over the year, which can allow fuller use of production facilities and improved cash flow during the year.
- Trade discounts
- Cash discounts
- Loyalty discounts
- Seasonal discounts
A: Seasonal discounts