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Marketing, Distribution and Pricing products

Quiz by Lina Ashraf

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15 questions
Show answers
  • Q1
    In the correct order, what are the stages of the Product Life cycle?
    Growth, Development, Saturation, and Decline
    Development, Research, Growth, and Decline
    Introduction, Growth, Maturity, and Decline
    Research and Development, Saturation, Maturity and Decline
    30s
  • Q2
    What is Price Penetration?
    Setting a low price when launching a new product in order to get established in the market
    Setting a low price forcing rivals out of business
    30s
  • Q3
    The process of dividing a market into segments and directing a marketing mix at a particular segment rather than at the total market
    Market Mapping
    Market Positioning
    Market Segmentation
    Market Orientation
    30s
  • Q4
    What are the elements of the marketing mix?
    Product, Promotion, Price, and Penetration
    Price, Location, and Customer
    Product, Price, Promotion, and Place
    30s
  • Q5
    The number of units that must be sold for the total revenue to equal the total cost
    Break-even
    Making profit
    30s
  • Q6
    A market that is in a rapidly changing business environment
    Mass Market
    Dynamic Market
    30s
  • Q7
    Benefits of branding
    Easy recognition and familiarity
    Increase in market share
    30s
  • Q8
    The cost incurred no matter how many units of a product are produced or sold
    Total Cost
    Fixed Cost
    Initial Cost
    Variable Cost
    30s
  • Q9
    What is psychographic segmentation?
    Grouping customers depending on their age, gender, income, and ethnicity
    Grouping customers according to their attitudes, opinions, and lifestyles.
    Grouping customers depending on where they live
    Grouping customers based on how they relate to a product
    30s
  • Q10
    Define Wholesaler
    The link between a producer and a consumer
    A business that buys goods from manufacturers and sells them in smaller quantities to retailers
    30s
  • Q11
    What is the correct order of a full distribution channel?
    Producer - Consumer
    Producer - Wholesaler - Retailer - Consumer
    Retailer - Wholesaler - Consumer
    Wholesaler - Producer - Retailer - Consumer
    30s
  • Q12
    Exploiting a unique selling point, advertising, creating a social media presence and sponsorship are examples of
    Merchandising
    Promotion
    Marketing
    Building a brand
    30s
  • Q13
    What is the main objective of Market mapping?
    To analyze competitors
    Help spot gaps in the market
    To understand how customers see a brand in relation to others in a market
    Encourages use of market research
    30s
  • Q14
    How can we add value to a product/service?
    Increase price
    Exploit economies of scale
    Increase promotion
    Customer service
    30s
  • Q15
    What is the purpose of product differentiation?
    Gain a competitive edge over rivals
    To increase product value
    30s

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