Marketing Mix TestMarketing Mix Test

This test consists of 10 questions designed This test consists of 10 questions designed to test your understanding of methods of to test your understanding of methods of the marketing mixthe marketing mix

The links provide you with a choice of The links provide you with a choice of answer, along with explanations and answer, along with explanations and solutions.solutions.

Question 1.Question 1.

B2B is a method of?B2B is a method of?

a. Pricing goods and servicesa. Pricing goods and services

b. Distributing goods and servicesb. Distributing goods and services

c. Designing goods and servicesc. Designing goods and services

Correct. B2B stands for Business to business

and is one of the great success stories of internet trading

Wrong Try again.

Wrong. Try again.

Question 2.Question 2.

A firms price for a new product is set at around A firms price for a new product is set at around 10% below the market norm. Is this an 10% below the market norm. Is this an example of?example of?

A. Loss leader pricingA. Loss leader pricing

B. Market skimmingB. Market skimming

C. Market penetration pricingC. Market penetration pricing

It is unlikely to be loss leader - unless margins are very tight. Try again

Market skimming implies a price above market norms. Try again

Correct. It looks like the firm is trying to grab market share

Question 3.Question 3.

Which of the following is likely to lead toWhich of the following is likely to lead to

purchases by early adopters?purchases by early adopters?

A. Mass marketing campaignA. Mass marketing campaign

B. Technological advantageB. Technological advantage

C. Destroyer pricing strategiesC. Destroyer pricing strategies

Wrong. Early adopters are not influenced by mass marketing

Correct. Early adopters like to bethe first to use new technology

Unlikely. Destroyer pricing implies widespread use of the product

Question 4.Question 4.

Which of the following forms of promotion is an Which of the following forms of promotion is an example of above-the line?example of above-the line?

A. Sponsorship of a premier league team A. Sponsorship of a premier league team

B. TV and radio advertisingB. TV and radio advertising

C. Direct salesC. Direct sales

This is an example of below the linepromotion.

This is an example of below theline promotion

Correct These are 2 of the main forms of above the linepromotion.

Question 5.Question 5.

Which of the following most closely describes Which of the following most closely describes market orientation?market orientation?

A. Producing goods and services based on A. Producing goods and services based on findings of market researchfindings of market research

B. Producing goods and services based on B. Producing goods and services based on company strengthscompany strengths

Wrong.Sounds like product orientation.

Correct

Question 6.Question 6.

Distribution channels are deliberately limited by Distribution channels are deliberately limited by firms such as Chanel and Calvin Kline, with firms such as Chanel and Calvin Kline, with the objective of?the objective of?

A. Maximising sales quantityA. Maximising sales quantity

B. Improving market presenceB. Improving market presence

C. Maintaining brand valuesC. Maintaining brand values

Correct. The firms deliberatelylimit sales outlets for this specific purpose

No, this strategy would limit sales and market presenceTry again

No, this strategy would limit sales and market presenceTry again

Question 7.Question 7.

Loss Leader pricing is used to?Loss Leader pricing is used to?

A. Gain customers who will provide future A. Gain customers who will provide future profits.profits.

B. Increase market shareB. Increase market share

1. Both1. Both

2. A only2. A only

Wrong. This is a product orientatedpricing strategy

Correct.

Question 8.Question 8.

Which of the following are types of product Which of the following are types of product indicated by the Boston Matrix?indicated by the Boston Matrix?

A. Falling starsA. Falling stars

B. Problem ChildrenB. Problem Children

C. Cash CowsC. Cash Cows

1. A and B1. A and B

2. B and C2. B and C

3. All of the above.3. All of the above.

The stars are normally rising!.

Correct. The other product types rising stars and dogs

The stars are normally rising!..

Question 9.Question 9.

Which of the below is an example of loss Which of the below is an example of loss leader pricing?leader pricing?

A. 2 for 1 offer on Iceland chipsA. 2 for 1 offer on Iceland chips

B. A prize for every reader!B. A prize for every reader!

C. Free computer programs on mag.C. Free computer programs on mag.

cover CDcover CD

This is an example of below the line promotion.

Another example of promotion

Correct It is hoped or expected that the use of help lines or later upgrades of the product will createprofitable sales

Question 10.Question 10.

Which of the examples below were launchedWhich of the examples below were launched

with a market penetration pricing strategy?with a market penetration pricing strategy?

A. Pentium 3GHZ processorA. Pentium 3GHZ processor

B. PoundlandB. Poundland

C. The iPhone 5C. The iPhone 5

1. A and C1. A and C

2. All of the above2. All of the above

3. B only3. B only

Definitely a case of market skimming!

Definitely a case of market skimming for a) andfor c)!

Correct.

You have now completed the test.