Business Management Unit Quiz

After selecting the best strategy, what should a marketer like Franklin do next?

• Determine the final deadline
• Apply the marketing concept
• Set aside the needed funds
• List the available resources

Which of the following best describes the marketing mix?

• A strategy that serves as a guide
• A method of determining what a marketer wants to achieve
• An element of marketing that puts a product in the right place at the right time
• A combination of the four elements of marketing

What is the best description of the marketing mix?

• A method of determining what a marketer wants to achieve
• An element of marketing that puts a product in the right place at the right time
• A strategy that serves as a guide
• A combination of the four elements of marketing

What should marketers consider to select the best strategy available to them?

• How to get their product into more customers’ hands
• How the marketing concept applies to their situation
• Resources needed to research and develop their product
• When they want promotional messages delivered to customers

What is an important characteristic of marketing tactics?

• The tactics should bring in enough money
• The tactics should focus on customers
• The tactics should support the marketing mix
• The tactics should line up with marketing strategies

Which of the following is an example of a marketing strategy?

• Scheduling customer service training dates
• Increasing customer benefits
• Printing the web address on company business cards
• Putting the web address on company vehicles

What action might a marketer take to achieve a company's pricing objective of raising the product’s value in the customer’s eyes?

• Lower the product’s price
• Decide how to package the product
• Order more of the product
• Ask a higher price for the product

What is the purpose of conducting a SWOT analysis in marketing strategy development?

• To decrease promotional activities
• To expand the target market
• To increase product prices
• To identify strengths and weaknesses

What is a potential obstacle for a marketer to encounter?

• Profits might increase
• Government regulations might change
• A social media campaign might succeed
• A competitor might create an inferior product

What questions might marketers ask when working on the product element of marketing?

• What media should be used to promote the product?
• How much should the product cost?
• Where should the product be sold?
• What level of quality should be produced?