Marketing Concepts Quiz

Which concept uses the needs of customers as the primary focus during planning, production, distribution, and promotion?

• Marketing Strategy

• Marketing Concept

• Features

• Brand

What is the blending of product, price, distribution, and promotion used to reach a target market known as?

• Marketing Mix

• Product Mix

• Marketing Plan

• Features

What is a plan that identifies how marketing goals will be achieved?

• Marketing Plan

• Marketing Strategy

• Product Mix

• Brand

What term describes the different products and services that a business sells?

• Marketing Mix

• Product Mix

• Features

• Brand

What is the name, symbol, or design used to identify a product?

• Marketing Mix

• Brand

• Product Mix

• Features

What is the primary focus of the marketing concept?

• Competitors

• Customer needs

• Product features

• Brand identity

What is the term for creating an image for a product in the customer’s mind?

• Market Share

• Positioning

• Discount Pricing

• Cost-Based Pricing

What does ROI stand for in business terms?

• Rate of Interest

• Return on Investment

• Revenue on Investment

• Return on Income

What is Demand-Based Pricing?

• Pricing based on competitor prices

• Pricing based on customer willingness to pay

• Pricing based on production cost

• Pricing based on psychological factors

What determines Cost-Based Pricing?

• The retail price of an item

• The wholesale cost of an item

• The competitor's price

• The demand for the product