7Ps - Entrep

What does the marketing mix primarily help a company achieve?

• Reduce operational costs

• Satisfy customers better than competitors

• Increase production speed

• Expand into new markets

Which of the following is NOT one of the original 4 Ps of marketing?

• Promotion

• People

• Place

• Product

What is the second P in the Marketing Mix?

• Price

• Place

• Promotion

• Product

Which of the following is an example of a service?

• MP3 player

• Hair salon

• Tires

• Clothing

What does the 'Price' in the marketing mix refer to?

• The profit margin

• The cost of production

• The discount offered

• The value exchanged for a product or service

Which promotional method involves direct communication with potential customers?

• Public relations

• Word of mouth

• Direct marketing

• Advertising

What is the primary function of packaging?

• To increase product price

• To reduce production time

• To provide protection and information

• To enhance product taste

Which of the following is NOT a part of the promotional mix?

• Product design

• Advertising

• Direct marketing

• Public relations

What does positioning in marketing refer to?

• The distribution channels used

• The location of a product in a store

• Creating an image in the minds of consumers

• Setting the price of a product

Which of the following is a factor that affects pricing strategy?

• Employee training

• Customer preferences

• Product packaging

• Advertising methods