1.04 Pick the Mix LAP

Marketers plan where they need to go and how to get there efficiently in order to

• lay out their strategies.

• agree upon a goal.

• measure their success

• achieve satisfying connections

A goal can be evaluated to determine its

• advantage

• progress

• success

• benefit

Which of the following is an important characteristic of marketing tactics:

• Tactics should support the marketing mix

• Tactics should line up with marketing strategies

• Tactics should focus on customers

• Tactics should bring in money

A firm’s strategy is important because it shows

• how a goal will be reached

• how its prices will be lowered

• how its tactics will be organized

• how its marketing mix will be upheld

To select the best strategy available to them, marketers should consider

• how to get their product into more customers’ hands.

• how the marketing concept applies to their situation.

• resources needed to research and develop their product.

• when they want promotional messages delivered to customers

Franklin is a marketer who selects what he thinks is the best strategy. What should he do next?

• list the available resources

• determine the final results

• set aside the needed funds

• apply the marketing concept

Which of the following is the most likely obstacle for a marketer to encounter:

• social media campaign might succeed

• profits might increase

• competitor might create an inferior product

• government regulations might change

Which of the following is the best description of the marketing mix:

• A combination of the four elements of marketing

• An element of marketing that puts a product in the right place at the right time

• A method of determining what a marketer wants to achieve

• A strategy that serves as a guide

Which of the following questions might marketers ask when they are working on the product element of marketing:

• How much should the product cost?

• Where should the product be sold?

• What level of quality should be produced?

• What media should be used to promote the product?

Which of the following things might a marketer do to achieve the company’s pricing objective of raising the product’s value in the customer’s eye:

• Decide how to package the product

• Ask a higher price for the product

• Lower the product’s price

• Order more of the product