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Meaning, elements and factors influencing marketing mix - class-XII

Description: meaning, elements and factors influencing marketing mix
Number of Questions: 35
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Tags: marketing and marketing mix sales and selling process marketing mix - 4 p's marketing mix organisation of commerce and management commerce marketing management business studies commercial applications marketing
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An option that gives investors right to sell a stock at predefined price is classified as ______________.

  1. put option

  2. call option

  3. money back options

  4. out of money options


Correct Option: A

The element of marketing mix is described as.

  1. Profit, power, price and product

  2. Price, product, place and promotion

  3. Place, promotion, product and profit

  4. Product, Price, Place and Promotion


Correct Option: D

The classification of Four P's was popularized by _______.

  1. Neil H. Borden

  2. E. Jerome McCarthy

  3. Kotler

  4. Levitt


Correct Option: B

Product-mix applies to firms dealing with.

  1. A single product

  2. A number of products

  3. Homogeneous product

  4. Hetrogeneous product


Correct Option: B

Product policy is needed.

  1. To guide the activities of the firm towards common goal

  2. To lead the firm towards current profits and long term growth

  3. To decide appropriate product mix at any given time

  4. All the above


Correct Option: D

The composite of products offered for sale by a firm or a business is?

  1. Market mix

  2. Product mix

  3. Distribution of channel

  4. Law of demand


Correct Option: B

Product policy leads to.

  1. Product objective

  2. Productive strategies

  3. Maximisation profit

  4. Both (A) and (B)


Correct Option: D

The fundamental reason for changing product mix is the change in.

  1. The market supply

  2. The market demand

  3. Population

  4. Consumer behaviour


Correct Option: B

Managing product mix is a part of.

  1. Price policy of a firm

  2. Product policy of a firm

  3. Sales policy of a firm

  4. Trade policy of firm


Correct Option: B

Which of the following is known as the "Contraction of product mix?"

  1. Product modification

  2. Product elimination

  3. Product line contraction

  4. Product line expansion


Correct Option: C

Product line contraction is also termed as_________.

  1. Modification

  2. Simplification

  3. Diversification

  4. Expansion


Correct Option: B

Marketing basically involves the selection of a.

  1. Marketing mix

  2. Competent sales staff

  3. Proper price

  4. Effective promotion and distribution


Correct Option: A

Sales volume is achieved under the marketing concept by.

  1. New product development

  2. Effective advertising

  3. Aggressive selling

  4. Appropriate marketing mix


Correct Option: D

The marketing mix involves product, price, place and.

  1. Distribution

  2. Promotion

  3. Processing

  4. Progress


Correct Option: B

The main reason for product diversification is to.

  1. Follow competitive companies

  2. Boost company morale

  3. Achieve greater rate of growth of sales and profits

  4. Use available company funds and know-how most effectively


Correct Option: D

Product mix is mainly broadened to.

  1. Meet competition

  2. Make a salesman more effective

  3. Fit customer requirement

  4. Utilize by-product


Correct Option: C

Promotion is the.

  1. Third element in the marketing mix

  2. Fourth element in the marketing mix

  3. Final element in the marketing mix

  4. Both (B) and (C)


Correct Option: D

Profit depends upon.

  1. Market share

  2. Product mix

  3. Cost control

  4. Combination of product mix, market share


Correct Option: D

The concept of four P's as elements of marketing mix was given by ________.

  1. Philip Kotler

  2. W.J. Stanton

  3. E.J. McCarthy

  4. Bruce J. Walker


Correct Option: C
Explanation:

The 4P's are the elements of marketing mix. E.J. McCarthy was an American marketing professor. He proposed the concept of 4P's of marketing mix 1960  book "Basic Marketing'. The 4P's of marketing mix are Product, Price, Promotion, Place.

Who coined the expression marketing mix?

  1. Henry Fayol

  2. Neil Borden

  3. Peter Drucker

  4. Abraham Maslow


Correct Option: B
Explanation:

Professor Neil Borden published a retrospective article detailing the early history of the marketing mix. Marketing mix is a combination of factors that are in a company's control to influence consumers to purchase its products. The 4P's of marketing mix are product, price, promotion and place.

Which of the following starts from (starting point) factory_____________.

  1. Product concept

  2. Selling concept

  3. Production concept

  4. All of these


Correct Option: D
Explanation:

Production Concept, Product Concept and selling Concept starting from factory. Continuous exposure to advertising and personal selling leads many people to link marketing and selling, or to think that marketing activities start once goods and services have been produced.

Marketing mix is the set of the ____________.

  1. Production tools

  2. Publicity tool

  3. Marketing tools

  4. Selling tools


Correct Option: C
Explanation:

The marketing mix has been defined as the set of marketing tools that the firm uses to pursue its marketing objectives in the target market.

Which one of the following is the desired future position?

  1. Financial Statement

  2. Vision Statement

  3. Objectives

  4. All of the above


Correct Option: B
Explanation:

The vision statement of a company is the desired future that a company is aiming towards. A vision statement is a a reminder of the main aim that it wants to persue and accomplish.

Which one of the following is not a part of 'marketing mix'?

  1. Planning

  2. Product

  3. Price

  4. Place


Correct Option: A
Explanation:

The 4P's is one way - probably the best-known ways of defining the marketing mix. The 4P's are Product (or service) Place, Price, Promotion.

__________ defines Marketing Mix as "set of marketing tools that the firm uses to pursue its marketing objectives in the target market".

  1. Culliton

  2. Kotler

  3. William

  4. Stanton


Correct Option: B

______defines Marketing Mix is the combination of four inputs which constitute the core of a company's marketing system, i.e., the product, the price structure, the promotional activities and the distribution system.

  1. Culliton

  2. Kotler

  3. William J. Stanton

  4. Howard and Upton


Correct Option: C

Place is one of the four elements of marketing mix.

  1. True

  2. False


Correct Option: A
Explanation:

Marketing mix is a combination of factors that are in a company's control to influence consumers to purchase its products. The 4P's of marketing mix are-

Product-  A product a tangible or intangible service offered by the company to meet customers' requirements and needs.
Price- Price is the actual amount the end user is expected to pay for the product or service.
Place-  Place refers to the how the product would be made available to the consumers.
Promotion- Promotion refers to all the marketing strategies that would persuade a consumer to buy the company's product.

What is set of marketing tools that the firm uses to pursue its marketing objectives in the target market called?

  1. Sales

  2. Marketing Mix

  3. Marketing

  4. Advertising


Correct Option: B

Which of the following is not part of the Kotler's 4Ps of Marketing?

  1. Power

  2. Product

  3. Price

  4. Place


Correct Option: A

The marketing mix when applied to international markets must _______.

  1. be standardised throughout the global market

  2. ignore the cultural & environmental variations between the different markets

  3. take into account the cultural and environmental differences between markets

  4. a & b


Correct Option: A

_____________ defines Marketing Mix is the combina-lion of four inputs which constitute the core of a company's marketing system, i.e., the product, the price structure, the promotional activities and the distribution system.

  1. CuIliton

  2. Kotler

  3. William J. Stanton

  4. Howard and Upton


Correct Option: C

Who has defined Marketing Mix as "set of marketing tools that the firm uses to pursue its marketing objectives in the target market"?

  1. CuIliton

  2. Kotler

  3. William J. Stanton

  4. Howard and Upton


Correct Option: B

Tobacco companies have been criticized for marketing cigarettes which are said to cause lung cancer. In this example, which element of the marketing mix is considered to be at blame? 

  1. Product

  2. Price

  3. Promotion

  4. Place


Correct Option: A
Explanation:

As tobacco companies have been criticized for manufacturing cigarettes which cause lung cancer, therefore product is that element of market risk which is to be blamed.

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