Principles of Marketing

The marketing mix is also known as the 5p’s

• True

• False

A feature is something that is offered as a special attraction to make the product more attractive to the average consumer.

• True

• False

A function is a specific task the product was meant to do or preform.

• True

• False

Distribution involves moving goods and services to various locations where consumers can readily locate them for purchase.

• True

• False

Middlemen are needed in an indirect channel of distribution.

• True

• False

Agents rarely if ever take title to the goods they are trying to sell.

• True

• False

Before a business can set a price for the products it is selling it must consider which of the following:

• What it cost them to make or purchase the product.

• Any additional expenses incurred in obtaining the product

• The amount of profit it wants to make.

• All the above.

Price is the most important element in the Marketing Mix.

• True

• False

A product is any item offered for sale; it can be a service or a physical good.

• True

• False

You cannot have any of the other 3p’s without first having the product.

• True

• False