Test Your Knowledge About Marketing Concepts Of Product! Quiz
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According to Kotler and Keller, "Marketing is 'the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value'. Take this quiz to test your knowledge about marketing concepts of product demand and supply. So, let's try out the quiz. All the best!
- 1.What are the activities that form a part of the marketing mix.(the 4ps)
- A.
Product price production place
- B.
Packaging point price place
- C.
Product price promotion place
- 2.What is a market segment?
- A.
When a group is split into houses!
- B.
When a market is broken down into smaller groups!
- C.
When a market is split for everyone to share!
- 3.Is market research expensive?
- A.
Yes
- B.
No
- 4.What is the four processes of a product life cycle?
- A.
Introduction downfall upfall decline
- B.
Introduction growth maturity decline
- C.
Starter growth maturity decline
- 5.Why are brand names used?
- A.
So they sound good
- B.
So you can define product
- C.
So you pick priduct with best name
- 6.When prices are high is demand usually....
- A.
Less
- B.
More
- C.
Balanced
- 7.The lower the price the customer is willing to pay the ______ a business will be willing to supply.
- A.
More
- B.
Less
- 8.The amount charged for a product?
- A.
Research
- B.
Price
- C.
Demand
- 9.What is the pricing called when it starts high then goes low.
- A.
Cost plus
- B.
Penetration
- C.
Skimming
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