ENTREP - MODULE 5

Which one is not a P in Marketing Mix?

• price

• people

• participant

• promotion

Which statement supports Marketing Mix?

• The marketing mix is also known as the “M’s” in marketing

• Marketing Mix is a set of controllable and connected variables that

  a company gathers to satisfy a target group better than its

  competitor.

• There are only 4 P’s in Marketing Mix.

• None of the above

Select the best definition of Product.

• A product is an item that is built or produced to satisfy the needs

  of a certain group of people, it can be intangible or tangible

• A product is an item that is built or produced primarily to gain

  profit; it can be intangible or tangible.

• A product is an item that is built or produced to compete in the

  world of business; it can be intangible or tangible.

• None of the above

Choose the best statement that applies in Consumer Goods.

• A buyer of consumer goods must have complete knowledge of the

  goods he buys and uses.

• After-sale service is of paramount importance in the case of all

  consumer goods.

• The market for consumer goods is affected by technological

  changes.

• A buyer of consumer goods may not have thorough knowledge of

  the goods he buys and uses.

What factors would change in the distribution channel if there will be no

Intermediary like producer and consumer?

• Nothing will take place, since it has no intermediary levels. In this

  case the manufacturer cannot sell to customers.

• Direct-marketing will take place, since it has no intermediary

  levels in this case the manufacturer sells directly to customers

• The company will utilize Technology to reach the customers.

• All of the above

What is the advantage of Penetration Pricing?

• A firm has three options and these are to price lower, price the

  same or price higher than competitors

• A firm can create the perception that the products must have a

  higher value than competing products because the prices are

  higher.

• The company earns more through cross-selling products along

  with a basic core product.

• The company will gain market share because the price charged

  for products and services is set artificially low.

Promotions refer to the partial set of activities, which communicate

the product, brand or service to the user. The idea is to make

people be aware, attract and induce to buy the product, in

preference over others. Find the error.

• partial set of activities

• which communicate the product

• idea is to make people aware, attract and induce to buy the

  product

• No error

How would you promote a product?

• By offering Free Gifts, Free Samples, Free Trial, Customer

  Contests, Special Pricing

• By offering Brochure, Catalogues, Fliers, Newsletters

• By offering Post cards, Coupons, Email, Phone calls,Text

  messages

• None of the above

The following are interpretation of the word Brand except

• a legal instrument

• a logo

• a business

• a vision

How can you define your business' purpose?

• Purpose can be defined in two ways: Functional which focuses

  on the evaluations of success in terms of immediate and

  commercial reasons and Intentional which focuses on success as

  it relates to the ability to make money and do well in the world.

• Purpose can be defined in two ways: National which focuses on

  the evaluations of success within the country for commercial

  reasons and International which focuses on success as it relates

  to other countries to make money and do well in the world.

• all of the above

• none of the above