MixPRO Quiz: Are you a marketing mix expert?

How well do you know the Marketing Mix?

Test your skills by taking this quiz below.

Which of the following descriptions provides the best definition of the marketing mix?

The way products are arranged in a retail store to maximize sales

The way a business combines the main marketing elements to sell products that meet the needs and wants of customers

The way a business distributes its products through retailers and wholesalers

The way products are priced and packaged

A company's marketing mix would not include:

Price

Place

Promotion

Product

What doe the 4P's acheive when they work together?

Target customers

Profit margins

Create a marketing plan

All of the above

None of the above

What does the term "brand extension" refer to?

Extending an existing brand name to new sizes or flavors in the existing product category

Extending an existing brand name to a new product category

Introducing new brand names in the same product category

Which of these statements is correct?

The higher the price elasticity, the greater the sale volume growth with 1% price reduction

The higher the price elasticity, the greater the sale volume decline with 1% price reduction

Price elasticity has no impact on sales volume in the context of a price reduction

How doe you calculate the average distribution margin of a brand?

The average distribution margin is the weighted average of the distribution margins in each channel where the brand is distributed, where the weights correspond to the coverage of each channel

The average distribution margin is the average of the distribution margins in each channel where the brand is distributed

The average distribution margin is the weighted average of the distribution margins in each channel where the brand is distributed, where the weights are the proportion of the brand sales in these channels

Which of the following factors should be considered when settting a brand's marketing communication mix?

The type of product market

The buyer-readiness stage

The product life-cycle stage

None of the above

All of the above

Does a company's market rank affect its marketing communication mix?

Yes, market leaders derive more benefits from advertising than from sales promotion

No, a company’s competitive position has nothing to do with its marketing communication mix

Which of the following marketing communications tools is typically used to build up a long-term image for a brand?

Direct marketing

Advertising

Sales promotion

After-sales services

What is the 4C's marketing model, extension of the 4P's?

Cost / Consumer value / Communication / Convenience

Capital / Communication / Consumer value / Complex

Complex / Cash / Convenience / Commerce

Consumer value / Commerce / Cost / Communication