The 4 P's (Intro)

If the marketing concepts in the mix are strategically coordinated, they can work together to create which of the following?

• Superior employees

• Products tailored to customers

• Prestige and prominence for a business

• Cohesive business decisions

Which of the following is NOT a promotional decision?

• Packaging

• Media budget

• Personal selling

• Public relations

The marketing mix defines which of the following?

• The type of advertising which will make a business successful

• The most efficient production plan possible

• The key management decisions needed to be successful in marketing

• The best way for salespeople to approach customers

The marketing mix should relate directly to who?

• The company’s target market

• The company’s top salespeople

• The company’s top salespeople

• The company’s competitors

Jordan is making a decision about how the products his business sells are transported to his store. Which of the four Ps would this decision fall under?

• Product

• Place

• Price

• Promotion

Carrie has decided to offer her customers financing for the products in her store. This would be considered part of which strategy?

• Creating a sales price

• Determining available payment methods

• Understanding pricing laws

• Calculating mark-up price

Price is which of the following types of variables?

• Psychological

• Physical

• Casual

• Social

Pricing strategies must relate to which of the following to be successful?

• The economy

• Competitors’ pricing strategies

• Advertising

• Customer habits

Which of the following is NOT a basic pricing decision?

• Implementing a pricing strategy

• Generating seasonal pricing

• Determining sales associate pay rates

• Creating volume discounts

Which of the following is NOT one of the strategies included in price?

• Determining discounts

• Lowering production costs

• Using promotional pricing techniques

• Creating a price list