Marketing Principles Exam

What are the four Ps of the marketing mix?

• Product, Price, Place, Promotion

• People, Process, Product, Place

• Planning, Placement, Promotion, Pricing

• Product, Production, Pricing, Publicity

Which of the following best defines target market?

• Everyone who uses a product

• A specific group of consumers at which a product is aimed

• All retailers in a certain area

• The most expensive customers

Which function of marketing involves determining how much to charge for goods and services?

• Promotion

• Financing

• Pricing

• Distribution

A SWOT analysis evaluates:

• Strategy, Wealth, Opportunity, and Targets

• Strengths, Weaknesses, Opportunities, Threats

• Selling, Wages, Organization, Timing

• Structure, Work, Operations, Technology

What is demographic segmentation based on?

• Lifestyles, values, and interests

• Geographic location

• Personal characteristics such as age, gender, income

• Shopping behavior

What is the purpose of branding in marketing?

• To confuse competitors

• To meet production goals

• To differentiate products and build customer loyalty

• To increase pricing flexibility

Place in the marketing mix refers to:

• Geographic regions

• Where a product is promoted

• How and where products are made available to customers

• Where a business is headquartered

Promotion is used to:

• Build warehouses

• Inform, persuade, and remind customers

• Set price levels

• Train employees

Which of the following is a channel of distribution?

• A) A billboard advertisement

• B) A marketing agency

• C) A wholesaler who sells to retailers

• D) A company’s mission statement

Product positioning is used to:

• Determine a store layout

• Compare marketing budgets

• Influence how customers perceive a product

• Develop pricing strategies