Marketing Management Quiz

What are the four variables that comprise the marketing mix?

• Product, Price, Place, People

• Product, Price, Position, Promotion

• Product, Price, People, Process

• Product, Price, Place, Promotion

What does 'Place' refer to in the marketing mix?

• The price of the product

• The advertising methods used

• The location where the product is sold

• The product's features

What is the main focus of the promotion function in marketing?

• To set prices

• To persuade consumers to buy

• To manage distribution

• To develop products

Which marketing function is responsible for the buying and selling of products?

• Promotion

• Distribution

• Grading

• Possession utility

What does 'form utility' refer to in marketing?

• The time products are available

• The physical appearance of products

• The location of products

• The ownership transfer of products

What is the first stage of the product life cycle?

• Growth stage

• Maturity stage

• Introduction stage

• Decline stage

Which pricing strategy involves setting a price based on competitors' prices?

• Cost-based pricing

• Value-based pricing

• Competitive pricing

• Penetration pricing

What is the purpose of price pegging?

• To set prices based on demand

• To fix prices of agricultural products

• To increase production costs

• To reduce market competition

What is a subsidy in the context of marketing?

• A price reduction for consumers

• A type of market research

• A method of advertising

• A price guarantee to raise farm prices

What is the main goal of advertising in marketing?

• To manage distribution channels

• To create awareness about the product

• To set prices for products

• To analyze market trends