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Marketing Principles Quiz: Test Your Knowledge, Quizzes of Marketing

California State Polytechnic University (CPP) - PomonaMarketing

A quiz on marketing principles, covering topics such as marketing communications, promotional efforts, pricing strategies, and the marketing mix. It includes multiple-choice and short-answer questions designed to test understanding of key marketing concepts. The quiz also explores competitive advantage, market research, strategic planning, and distribution channels. It is useful for students studying marketing or business administration, providing a comprehensive review of essential marketing principles and their application in real-world scenarios. (418 characters)

Typology: Quizzes

2024/2025

Available from 05/19/2025

dennis-mburu
dennis-mburu 🇺🇸

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Marketing Principles
Quiz #3
Each
question
is
worth
4
points
(1) If you were advising someone on developing a “marketing communications
plan”, what factors would you address in this selection process?
The factors I would address are their
target market, objectives, message,
promotional channels, budget, promotional mix, and measuring the results and
adjust.
(2) Different media provide different advantages to different types of businesses –
what are the different mediums that we have to use in establishing our
promotional efforts?
The different mediums that we can use in establishing promotional efforts are
ads in
magazines, trade journals, and newspaper, radio, billboards, and TV
announcements
.
(3) No single pricing formula will work for all businesses, nor is there a formula that
will assure maximum profits in all situations.
T
F
(4) Promotion is a form of persuasive communication, or getting others to do what
you want them to do. Its function is that of informing consumers about a product
or service and influencing them to buy that product or service.
T
F
(5) What
is the name of the pricing strategy where a low price is set so that a firm
can increase its share of the market?
A. Discount
Pricing
B. Prestige
Pricing
C. Penetration
Pricing
D. Psychological
Pricing
(6) Which of the following descriptions provides the best definition of the “marketing
mix”?
A. The
way
products
are
priced
and
packaged.
B. The way a business combines the main marketing elements to sell
products that meet the needs and wants of customers.
C. The way a business distributes its products through retailers and
wholesalers.
D. The
way
products
are
arranged
in
a
retail
store
to
maximize
sales.
(7)
Physical
distribution starts with understanding consumer needs and
finding low-cost solutions to getting goods to consumers.
T
F
(8) What
are
the
5
elements
of
promotion?
The 5 elements of promotion are
advertising, public releases or publicity, sales
promotion, direct marketing, and personal selling.
(9) What is meant by a competitive advantage and what is one means of identifying
that in fact you have one?
pf3
pf4

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Quiz # Each question is worth 4 points (1) If you were advising someone on developing a “marketing communications plan”, what factors would you address in this selection process? The factors I would address are their target market, objectives, message, promotional channels, budget, promotional mix, and measuring the results and adjust. (2) Different media provide different advantages to different types of businesses – what are the different mediums that we have to use in establishing our promotional efforts? The different mediums that we can use in establishing promotional efforts are ads in magazines, trade journals, and newspaper, radio, billboards, and TV announcements. (3) No single pricing formula will work for all businesses, nor is there a formula that will assure maximum profits in all situations. T F (4) Promotion is a form of persuasive communication, or getting others to do what you want them to do. Its function is that of informing consumers about a product or service and influencing them to buy that product or service. T F (5) What is the name of the pricing strategy where a low price is set so that a firm can increase its share of the market? A. Discount Pricing B. Prestige Pricing C. Penetration Pricing D. Psychological Pricing (6) Which of the following descriptions provides the best definition of the “marketing mix”? A. The way products are priced and packaged. B. The way a business combines the main marketing elements to sell products that meet the needs and wants of customers. C. The way a business distributes its products through retailers and wholesalers. D. The way products are arranged in a retail store to maximize sales. (7) Physical distribution starts with understanding consumer needs and finding low-cost solutions to getting goods to consumers. T F (8) What are the 5 elements of promotion? The 5 elements of promotion are advertising, public releases or publicity, sales promotion, direct marketing, and personal selling. (9) What is meant by a competitive advantage and what is one means of identifying that in fact you have one?

Quiz # Each question is worth 4 points A competitive advantage means to have an unique quality or qualities that allow a business to outperform its competition in a specific market/industry. One mean to identify if you have one is by doing S.W.O.T. analysis. (10) Firm’s must consider the product’s stage in the life cycle, its importance to the firm’s portfolio, the competitor’s intentions and resources, the product’s price and quality sensitivity, when responding to a competitors price change. T F (11) To use the Marketing Concept, a business should do the following 5 things: A business should determine the needs/wants of their customer, develop their competitive advantage, select specific markets to serve, determine how to satisfy these needs/wants, and analyze how well they've served their customers and then return to step one. (12) The aim of market research is to find out who the customers are, what the customers need and/or want, where and when they want it. T F (13) Strategic Planning is the process which involves the review of: a. Market Conditions b. Customer Needs c. Competitive Strengths and Weaknesses d. Sociopolitical, Legal and Economic Conditions e. Technological Developments f. Resource Availability g. ALL OF THE ABOVE h. NONE OF THE ABOVE (14) The aim of market segmentation is to identify groups of buyers based on similarities and then develop a marketing strategy based on those similarities. T F (15) What issues does a company need to consider when a competitor initiates a price change? Firms must consider the product’s stage in the life cycle, its importance to the firm’s portfolio, the competitor’s intentions and resources, the product’s price and quality sensitivity, the behavior of costs with volume, and alternative opportunities. (16) The major benefits to a S.W.O.T Analysis are: a. Simple to use. b. Reduces the costs of strategic planning. c. Flexible. d. Integrates and synthesizes diverse information.

Quiz # Each question is worth 4 points What are the some questions that a marketing manager must address when analyzing the competitive environment and its impact on their company? Some questions that a marketing manager must address are Who are the main competitors?, What are their strengths and weaknesses?, What is their market share?, How do they differentiate themselves?, What are their target markets?, What is their brand perception?, What are the barriers to entry?, and How does regulatory environment affect competition?.