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Duplicate of Marketing Mix

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  • What pricing strategy sets the price lower than competitors to gain market share?
    Penetration Pricing
    Competitive Pricing
    Loss Leader
    Price skimming
  • What term is part of the extended marketing mix for services that relates to business premises?
    Business premises
    Physical evidence
    Business location
    Facilities
  • A promotion mix is:
    various promotion strategies used in a promotional campaign
    Different songs downloaded from ITunes about marketing
    Advertising and Sponsorship combined
    A mix of differentiation strategies used in marketing
  • The practice of dividing a market into groups of customers who have the same needs and wants
    target market
    customers
    producers
    market segmentation
  • In the Marketing Mix, the 'P' for distribution is:
    Place
    Promotion
    Price
    Product
  • Goods and services = ........
    benefits
    tangible
    products
    intangible
  • The franchisor is also known as the
    Parent company
    Franchisee
    Seller
  • what is profit?
    the money used to buy goods to sell
    the money received from customers
    the money from selling goods
    money left after all the costs are taken away from revenue
  • What is the purpose of branding?
    allow an organisation to distinguish itself from others
    to create a monopoly and beat other companies
    to make a profit from your name
  • Which term is NOT part of the marketing mix?
    population
    price
    people
    product
  • Name the pricing strategy
    Loss leader
    Cost plus
    Promotional pricing
    Price skimming
  • Competitor pricing is when a business charges .......... their competitors
    more than
    far less than
    the same as
    less than
  • intangible products
    services
    goods
    intrinsic value
    utility
  • Skimming is based on the thought that the consumers who want it first will pay...
    less
    the same
    more
  • This is an example of which pricing strategy?
    Psychological
    Dynamic
    Price Skimming
    Competitor
  • The combination of the different types of promotion
    tv and social media
    personal selling
    promotional mix
    product promotion
  • What type of target marketing is it when the main customer characteristic identified is age?
    Demographic
    Market segmentation
    Psychographic
    Geographic
  • Demographic segmentation includes
    Race, Gender, Location
    Gender, Occasion, Race
    Race, Life style, Location
    Location, Race,  Attitudes
  • What is a target market?
    Marketing Strategies
    Resources
    People you don't want to sell to.
    Specific group of people you want to sell to.
  • Who do the vaping companies actually target in their marketing ads?
    Current smokers trying to quit
    Teens
    New smokers
    Adults over 21
  • Which term refers to the people who are exposed to an ad?
    audience
    frequency
    advertising campaign
    impression
  • What are the 7p's of marketing?
    Power, Place, Promotion, Plan, Product, Progress, Physical
    Physical evidence, People, Process, Power, Price, Place, Product
    Process, Physical evidence, People, Promotion, Place, Price, Product
    Product, Price, Place, Promotion, People, Process, Power
  • who gave 7ps of marketing?
    Booms and Bitner
    Keller and Bitner
    Kotler and Bitner
    Steve and Bitner
  • When is penetration pricing normally used?
    When sales are at their highest
    When consumers are bored of a product
    When a product's sales are declining
    When a new product is launched
  • Which term refers to the process of getting goods and services to customers?
    finance
    production
    distribution
    marketing
  • What is the promotional mix?
    ways used to recruit staff
    ways to trade with other countries
    ways used to maximise profits
    ways to communicate with current and potential customers
  • What is predatory pricing?
    copying other companys changes in price
    Setting prices just marginally below competitors
    setting prices low enough to force competitors out of business
    setting prices the exact same as competitors
  • Tangible products
    Service
    Goods
  • Why do you need a business plan?
    Gives an objective look at what you are doing and why
    Gets everyone involved to focus on the same goals
    It is required by law
    To raise capital
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