Exploring the Marketing Mix

What are the 4 Ps of Marketing?

• Product, Price, Place, Promotion

• Product, People, Process, Physical Evidence

• Price, Promotion, People, Process

• Place, Promotion, People, Physical Evidence

Which of the following best describes a target market?

• A group of people who have never purchased a product

• A group of people who are likely to buy a product

• A group of people who are not interested in a product

• A group of people who have already purchased a product

Which branding strategy involves using an existing brand name for a new product in a different category?

• Brand Extension

• Brand Licensing

• Co-Branding

• Brand Repositioning

What is the primary goal of advertising?

• To increase production costs

• To inform and persuade consumers

• To decrease product quality

• To limit market reach

In which stage of the Product Life Cycle is a product introduced to the market?

• Growth

• Maturity

• Introduction

• Decline

Which of the following is NOT one of the 4 Ps of Marketing?

• Product

• Price

• People

• Promotion

What is a key characteristic of a niche market?

• It targets a broad audience

• It targets a specific, small group of consumers

• It has no competition

• It is not profitable

Which advertising technique uses celebrities to promote a product?

• Testimonial

• Bandwagon

• Emotional Appeal

• Celebrity Endorsement

During which stage of the Product Life Cycle do sales and profits typically peak?

• Introduction

• Growth

• Maturity

• Decline

What is the purpose of a brand logo?

• To increase production costs

• To visually represent the brand

• To confuse consumers

• To decrease brand recognition