1) Which one of these is an element of the marketing mix? a) Process b) Profit c) Promotion d) Pitch 2) What is Ms. Atkinson's favorite number? a) 1 b) 2 c) 3 d) 4 e) 5 f) 6 3) What is 'marketing' commonly mistaken for? a) Advertising b) Production c) Distribution d) Pitching 4) What is a synonym for the 'Place' P in the marketing mix? a) Service b) Distribution c) Marketing d) Advertising e) Promotion 5) What is at the heart of marketing? a) Customer b) Advertising c) Social Media d) Billboards e) Commercials f) Flyers 6) Which of these is NOT one of the 4 Ps of marketing? a) Product b) Price c) Promotion d) Profit e) Place 7) What are goals you want to achieve in the next year? a) Short-term goals b) Medium-term goals c) Long-term goals 8) What are goals you want to achieve in the next 2-5 years? a) Short-term goals b) Medium-term goals c) Long-term goals 9) What are goals you want to achieve in the next 5+ years? a) Short-term goals b) Medium-term goals c) Long-term goals 10) A marketing plan is written about how you are going to advertise to your... a) Competitors b) Target Market c) Coworkers d) Staff e) CEO 11) What type of market do we have in the U.S. now that means that satisfying customer need is the most important thing? a) Product-driven market b) Consumer-driven market c) Competition-driven market d) Business-driven market 12) All of the products and services that a business sells is know as their... a) Product line b) Product list c) Product mix d) Product survey 13) Similar products sold in a singular line are known as... a) Product line b) Product list c) Product mix d) Product survey 14) What are product characteristics that will satisfy the customers needs? (Ex. color, size, quality) a) Branding b) Advertsing c) Positioning d) Features 15) What is the name, symbol, or design used to identify your product? a) Brand b) Product c) Packaging d) Label 16) What is the box, container, or wrapper in which the product is placed? a) Brand b) Product c) Packaging d) Label 17) What is where information about the product is given on the package? a) Brand b) Product c) Packaging d) Label 18) What is it called when you are creating an image for a product in the customer’s mind and trying to get a desired customer response? a) Positioning b) Advertising c) Labeling d) Packaging 19) What does USP stand for? a) Unique Strategy Proposal b) Unique Selling Proposition c) Unanimous Selling Point d) Understood Selling Price 20) What is the actual amount a customer pays for a product or service? a) Product b) Premium c) Sale d) Discount e) Price 21) What does ROI stand for? a) Rate of Interest b) Rate of Investment c) Return on Investement d) Return on Interest 22) What is business’s percentage of the total sales generated by all companies in the same market? a) Market share b) ROI c) Monopoly d) Market greed 23) Which pricing strategy is used when you determine how much customers are willing to pay for a product or service? a) Demand-based pricing b) Competition-based pricing c) Cost-based pricing d) Price skimming e) Penetration pricing f) Time-based pricing 24) Which pricing strategy is used when you use the wholesale cost as a basis for the price charged; marking up? a) Demand-based pricing b) Competition-based pricing c) Cost-based pricing d) Price skimming e) Penetration pricing f) Time-based pricing 25) Which pricing strategy is used when you consider what competitors charge for the same good or service? a) Demand-based pricing b) Competition-based pricing c) Cost-based pricing d) Price skimming e) Penetration pricing f) Time-based pricing 26) Which pricing strategy is used when you determine the amount of time it takes to complete the service? a) Demand-based pricing b) Competition-based pricing c) Cost-based pricing d) Price skimming e) Penetration pricing f) Time-based pricing 27) Which pricing strategy is used when you start with a high price to recover the costs involved in developing the product? a) Demand-based pricing b) Competition-based pricing c) Cost-based pricing d) Price skimming e) Penetration pricing f) Time-based pricing 28) Which pricing strategy is used when you start with a low price with the goal of building a strong customer base a) Demand-based pricing b) Competition-based pricing c) Cost-based pricing d) Price skimming e) Penetration pricing f) Time-based pricing 29) What pricing strategy is used when you use a high price to create a feeling of superior quality? a) Prestige pricing b) Odd/even pricing c) Promotional pricing d) Multiple-unit pricing 30) What pricing strategy is used when buyers are sensitive to certain ending numbers? a) Prestige pricing b) Odd/even pricing c) Promotional pricing d) Multiple-unit pricing 31) What pricing strategy is used when you offer lower prices for limited time to increase sales? a) Prestige pricing b) Odd/even pricing c) Promotional pricing d) Multiple-unit pricing 32) What pricing strategy is used when it suggests a bargain when you buy more items in bulk? a) Prestige pricing b) Odd/even pricing c) Promotional pricing d) Multiple-unit pricing

Marketing Ps

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