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MixPRO Quiz: Are you a marketing mix expert?
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
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