Practice Test

Q1) ________ is the term that is used to describe the combination of the four inputs that
constitute the core of a company's marketing system: the product, the price structure, the
promotion activities and the distribution system.
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Q2) A ______ can be defined as anything that is offered for sale in the open market. Show Answer

Q3) ________includes several sub-variables like product line, product shape, size, colour,
ingredients, brand name, trade mark, packaging, labelling, after sale services, guarantees
etc.
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Q4) _____is the exchange value of a product. Show Answer

Q5) ________ includes all the activities undertaken by an organization to promote its
products in the target market.
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Q6) ______includes sub-variables such as advertising, sales promotion, personal selling,
public relation, publicity, direct marketing etc.
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Q7) _______ coined the expression 'marketing mix'. Show Answer

Q8) At the time of market entry low price is charged for the product under the ' _______ price
strategy '.
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Q9) Under _______ the market strategy higher price is charged at the time of introduction. Show Answer

Q10) Striking the appropriate marketing mix would________ the profits of an organization. Show Answer

Q11) An appropriate marketing mix helps in achieving ________ returns with limited resources. Show Answer

Q12) Product _______ refers to the number of different products the organization offers. Show Answer

Q13) Product _______ refers to the total number of items in each product category. Show Answer

Q14) Product ________ explains the number of variants of each product in the line. Show Answer

Q15) A _______ is a name and/or mark intended to identify the product of one seller and
differentiate the product from competing products.
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Q16) A ______ is the actual container, covering or wrapper to protect the product. Show Answer

Q17) A _______ is the part of a product that carries information about the product and the seller. Show Answer

Q18) Product ______ refers to the arrangement of elements that collectively form a product. Show Answer

Q19) ______are short catchy phrases that communicate information about the brand. Show Answer

Q20) A ____________ is an assurance given by a manufacturer to the buyers that they would be
compensated in case the product does not perform up to reasonable expectations.
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Q21) Product mix ______ means, reducing the number of activities by discontinuing those
products, which don't form the core activities of the company.
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Q22) During ______ stage the product is launched in the market. Show Answer

Q23) During _______ stage, demand for the product as well as profits increase. Show Answer

Q24) ________ stage is the stage where the demand and sales reach the saturation point. Show Answer

Q25) During ________ stage consumers start switching over to other brands. Show Answer

Q26) _______ when registered becomes a trademark. Show Answer

Q27) ________ is anything that satisfies people's needs and wants. Show Answer

Q28) Brand _________ is a strategy in which firm uses an existing brand name to introduce a
product in a different product category.
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Q29) Product ________ is an act of designing the company's offering and image to occupy a
distinctive place in the minds of the people.
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Q30) Brand ______ is defined as the incremental value of a business above the value of its
physical assets due to the market position achieved by its brand and the extension
potential of the brand.
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Q31) _______ is the exchange value of a product. Show Answer

Q32) Under Market _______ pricing strategy the manufacturer charges a high price for his product
when it is introduced in the market.
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Q33) Under Market _______ pricing strategy the manufacturer charges low price for his product
when it is introduced in the market.
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Q34) Under _____ price strategy, a seller charges the same price to all customers who buy
identical quantities of a product.
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Q35) In ______ pricing strategy or variable pricing strategy, the manufacturer charges different
prices to similar customers.
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Q36) One of the product strategies followed in _______ stage may include product modification Show Answer

Q37) Brand fatigue enters into the mind of the customers during _______ stage. Show Answer

Q38) Brand _________ is a strategy in which a firm uses an existing brand name is used to
introduce a product in a different product category.
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Q39) A product is ______ in the mind of the prospect by highlighting its differences from similar
products.
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Q40) _______ helps in protecting the goods from damage during transportation. Show Answer

Q41) _________ refers to the value and strength of the brand that decides it's worth. Show Answer

Q42) ________ gives a distinct identity to the brand Show Answer

Q43) The broader concept of product not only includes the physical elements but also the
psychological elements associated with the brand.
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Q44) Augmented product is a product where the product or the service provided exceeds
customer's expectation.
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Q45) When one product is mixed with other product it is called product mix. Show Answer

Q46) Branding helps in differentiating a product from competing products. Show Answer

Q47) Brand extension does not have any effect on the parent brand. Show Answer

Q48) Brand Positioning helps inoccupying a distinctive place in the minds of the people. Show Answer

Q49) Brand equity is the incremental value of a business above the value of its physical assets
due to the market position achieved by its brand and the extension potential of the brand.
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Q50) Under Market Penetration pricing strategy the manufacturer charges high price for his
product when it is introduced in the market.
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Q51) Product quality has little impact on brand loyalty. Show Answer

Q52) A product mix consists of various product lines. Show Answer

Q53) Product mix contraction means introducing different versions of the brand. Show Answer

Q54) Product strategies followed in inception stage includes product modification, enlarging
distribution and service network and maintaining competitive price level.
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Q55) Brand fatigue enters into the mind of the customers during growth stage. Show Answer

Q56) Registered brands are called trademarks. Show Answer

Q57) Maturity stage is the stage where the demand and sales reach the saturation point. Show Answer

Q58) The stage of the product in product life cycle has no effect on price fixation. Show Answer

Q59) Flexible pricing strategy is also called variable pricing strategy. Show Answer

Q60) Odd pricing is also called psychological pricing. Show Answer

Q61) The major objective of Market Penetration strategy is to recover the research and
development cost quickly.
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Q62) Package acts as a silent salesman. Show Answer

Q63) Label performs function of a tag. Show Answer

Q64) Product depth refers to how many product lines the company offers. Show Answer

Q65) The length of the product mix refers to the total number of items/brands in a product
category.
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Q66) Product width refers to the total number of brands in a product category. Show Answer

Q67) Marketing mix can be applied to both business as well as non-business organisations. Show Answer

Q68) The marketing mix variables need not be interlinked to one another. Show Answer

Q69) There is a fixed formula for marketing mix which can be ideal under all situations. Show Answer

Q70) Product includes not only tangible goods but also intangible goods like services and
ideas.
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Q71) The price mix has various sub-variables, such as credit sale, instalment payment,
discounts, gifts, terms of credit etc.
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Q72) Under Skimming pricing strategy, product is introduced with low price in the market Show Answer

Q73) Under Penetration strategy, product is introduced with a high price in the market. Show Answer

Q74) John Bearly, an American marketing expert coined the expression 'marketing mix'. Show Answer

Q75) Marketing mix is not a consumer oriented concept.

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Q76) Adjustments in marketing mix variables are made in order to meet customer satisfaction. Show Answer

Q77) Product Mix refers to the complete portfolio of products offered by firm. Show Answer

Q78) Marketing Mix is a dynamic concept. Show Answer

Q79) A firm adopts the same marketing mix for all products. Show Answer

Q80) The terms brand equity and brand positioning are synomymous. Show Answer

Q81) Services cannot be positioned. Show Answer

Q82) Products can be positioned by using celebrity endorsements. Show Answer

Q83) Intangibility element creates a challenge in service positioning. Show Answer