WorksheetsThe Marketing Mix
Total questions: 25
Worksheet time: 49mins
Which of the following is a step in the product life cycle?
Market reintroduction
Market shrinkage
Market maturity
Sales peak
How many steps are there to determine price?
Five
Six
Seven
Eight
Identify the correct answer.
Publicity is free.
Publicity is not free.
(a)
Image is the way a business or organization is defined in people’s minds.
True
False
What are the 4Ps of Marketing?
(a)
Which of following is an example of odd-even pricing?
$105
$110.00
$119.99
$120
Advertising is not free.
True
False
The label is not the part of the package used to present information.
True
False
What are the goals of packaging?
o Promote a company and its image
o Give an old product a new image
o Preserve the product for a time period
o All of the above
Why use cellophane (transparent paper) and plastic wrap?
Can be shaped into bottles and jars
See through package (meat)
Easy to print on
None of these
Product features are the benefits it offers to consumers. It includes style, distinctive characteristics, color, quality, and options.
True
False
What are seasonal discounts?
Discounts offered to encourage buyers to buy in bulk
Discounts offered to encourage buyers to buy earlier than what current demand requires
Discounts offered to encourage buyers to pay a price more quickly
Discounts offered temporarily to encourage immediate buying
What is list price?
Basic published or advertised price, often subject to discount
Offered to encourage buyers to buy in bulk
What is Odd-even Pricing?
Different prices place different consumer perceptions on products
Setting prices to end with certain numbers
What governmental regulation eliminated price discrimination?
Robinson Patman Act of 1936
Sherman Antitrust Act of 1890
The Clayton Antitrust Act of 1914
Consumer Goods Pricing Act
What are cash discounts?
Popular strategy to obtain a specified share (percent) of a market
Reductions in price often to encourage buyers to pay a price more quickly
Profit Maximization Objective sets out to make as much profit as possible; does not necessarily mean high prices for consumers.
False
True
One-price Policy offers the same price to all customers who purchase products under essentially different conditions and different quantities.
Tru
False
Channels are paths.
True
False
Fill in the blank:
Typical model: ___________ > Wholesaler > Retailer > Final User
Manufacturer
Agent
Producer
Both A and C
Retailers: Sell goods to the final consumer for personal use.
True
False
Choose the correct answer:
Agents: Unlike wholesalers and retailers, agents (do or do not) own the goods they sell.
do
do not
Elastic Demand is the change in price will affect the demand.
True
False
Inelastic Demand is the change in price has little affect on demand
True
False
Which of the following is NOT a goal of pricing?
Increasing market share
Increasing business from competitors
Making a return on investment
Meeting competition
