MARKETING MIX

Question 1

is a set of controllable and connected variables that a company gather to satisfy a customer better than its competitor.

Answer 1

Marketing Mix

Question 2

It is also known as the “Ps” in marketing.

Answer 2

Marketing Mix

Question 3

The original 4 P’s stands for

Answer 3

product, place, price and promotion.

Question 4

Eventually, three elements have been added, namely: ____________________ to comprise the 7 P’s.

Answer 4

people, packaging and positioning

Question 5

Marketing Mix (7Ps)

Answer 5

product, place, price, promotion, people, packaging and positioning

Question 6

refers to any goods or services that are produced to meet the consumers’ wants, tastes and preferences.

Answer 6

PRODUCT

Question 7

is anything in the form of good, service or idea consisting of a bundle of tangible and intangible attributes that can be offered to a market that might satisfy a want or need and is received in exchange of money

Answer 7

PRODUCT

Question 8

represents the location where the buyer and seller exchange goods or services.

Answer 8

PLACE

Question 9

It is also called as the distribution channel.

Answer 9

PLACE

Question 10

It can include any physical store as well as virtual stores or online shops on the Internet.

Answer 10

PLACE

Question 11

STAGES OF DISTRIBUTION CHANNEL

Answer 11

1. PRODUCERS-WHOLESALER-RETAILER-CONSUMER
2. PRODUCERS-RETAILER-CONSUMER
3. PRODUCERS-CONSUMER

Question 12

is the value of money in exchange for a product or service.

Answer 12

PRICE

Question 13

is the amount or value that a customer gives up to enjoy the benefits of having or using a product or service.

Answer 13

PRICE

Question 14

Variables that highly influence the setting of prices of goods:

Answer 14

A- Availability of the competing products
C- Cost of making the product
T- Type of product
P- Presence of substitute products
S- Stages of the product in the market
D- Demographic profile of the target consumers

Question 15

Price Strategies

Answer 15

Customary Pricing
Variable Pricing
One-Price Policy
Flexible Pricing
Odd Pricing
Prestige Pricing
Price Lining
Price Bundling
Multiple -Unit Pricing
Geographic Pricing

Question 16

It is when one price is maintained over an extended period of time.

Answer 16

Customary Pricing

Question 17

It is when the price responds to costs fluctuations or differences in demand.

Answer 17

Variable Pricing

Question 18

It is when the price is charged to all customers buying the product or service under similar conditions.

Answer 18

One-Price Policy

Question 19

It is based on customerś ability to negotiate or buy power of the customer.

Answer 19

Flexible Pricing

Question 20

These are prices set at levels below even values.

Answer 20

Odd Pricing

Question 21

The products are purposely sold at a higher price in order to create a high or superior image.

Answer 21

Prestige Pricing

Question 22

It is when instead of setting one price for a single model of good or service, the firm sells two models of different quality and features at
different prices.

Answer 22

Price Lining

Question 23

It is when the firms offers a basic product, options and customer service for one total.

Answer 23

Price Bundling

Question 24

It is when the entrepreneur offers discounts to consumers for buying in large quantities.

Answer 24

Multiple -Unit Pricing

Question 25

It is when the pricing are set depending on the Distance of the buyer or seller.

Answer 25

Geographic Pricing

Question 26

It refers to the mode of conveying the presence and attributes of the product to the large market.

Answer 26

PROMOTION

Question 27

utilizes the most appropriate media to reach consumers.

Answer 27

PROMOTION

Question 28

Promotion includes the ff:

Answer 28

Advertising Publicity Personal Selling Sales Promotion Direct Marketing

Question 29

Advertising ex:

Answer 29

Television or radio commercials Print advertisement Online advertising Packaging ads

Question 30

The most common medium of promoting a product or service is through advertising.

Answer 30

Advertising

Question 31

It is a non-personal communication regarding goods, services, organization, people, places and ideas that is transmitted through various media but not paid for by an identified sponsor.

Answer 31

Publicity

Question 32

It involves oral communication with one or more prospective buyers by paid representatives for the purpose of making sales.

Answer 32

Personal Selling

Question 33

It involves paid marketing communication activities that stimulate consumer purchases and dealer effective.

Answer 33

SALES PROMOTION

Question 34

It is undertaken through the internet.

Answer 34

DIRECT MARKETING

Question 35

The entrepreneur starts by building a consumer database, performs a one-on-one approach in building consumer relationship, and sells the product online.

Answer 35

DIRECT MARKETING

Question 36

It refers to individual employees or workers who are directly involved in the production, marketing, and sale of the product or service. Hence, the entrepreneur must be sure to hire the right person for the position.

Answer 36

person

Question 37

refers to the process of putting the product in a package or container.

Answer 37

packaging

Question 38

Characteristics of a good Package

Answer 38

User friendly Label printed on the packaging material must be attractive , readable, and complete with the necessary product information It can be resealable and usable. Environment friendly

Question 39

It refers to the place occupied by the product in the minds of the consumers.

Answer 39

Positioning

Question 40

. It is a marketing strategy that defines the target consumers.

Answer 40

Positioning

Question 41

The entrepreneur must always define the product from the perspective of a customer -driven position.

Answer 41

Positioning

Question 42

This position is actually a mixture of the different attributes of the Ps.

Answer 42

Positioning

Question 43

Based on the customer-oriented perspective, the seven Ps may be represented in a customer-driven strategy as follows:

Answer 43

Customer satisfaction for product Customer convenience for place Customer cost lowered Customer information for promotion Customer quality assurance for people Customer safety for packaging Customer decision for positioning

Question 44

is an integrated marketing tool used after the target segment has been identified.

Answer 44

Marketing Mix

Question 45

It positions the product in the identified target market to influence demand for the product.

Answer 45

Marketing Mix

Question 46

is a very effective and strong marketing tool that will influence the customers to buy the product.

Answer 46

MARKETING MIX