Marketing Mix

What marketing mix pertains to the item produced to satisfy the need of a certain group of people?

• Product

• Price

• Place

• People

What is marketing mix?

• It is a mixture of marketing strategies.

• It is putting the most affordable product at the most convenient place.

• It refers to the different tools a company uses to effectively promote its business in the marketplace.

• It pertains to the right elements for highest marketability of product or service.

What is the sum of all the values that consumers are willing to give up to gain the benefits of using your product?

• Product

• Price

• People

• Place

Which of the following are the two pricing approaches?

• Cost-based

• Value-based

• Expense-based

• Power-based

What makes price as the most important element of the marketing mix?

• It triggers good impressions.

• It determines and maximizes profit.

• It equates the value that customers are willing to spend.

• It determines what customers give up.

Which of the following pricing strategies are suitable for tougher competition? (Select the three correct answers.)

• Launch a lower-price fighting brand

• Reduce prices to match the competition.

• Research the pricing strategies of the competitors.

• Improve quality and increase price.

What marketing mix pertains to the placement or distribution to bring the product or service to the consumer?

• Product

• Place

• Positioning

• Price

Which of the following are the two retailing styles?

• Buy and sell

• Store Retailing

• Non-store Retailing

• Variety Retailing

What marketing mix pertains to all activities that involve communicating with the customer about the product and its benefits and features?

• Marketing

• Positioning

• Place

• Promotion

Identify all the promotional elements.

• Advertising

• Marketing Strategy

• Public Relations

• Sales Promotion