Marketing Mix: Product, Price And Place Quiz Questions!

1. A product is anything that is not capable of satisfying customer needs

True

False

This statement is false. A product is actually something that is created or designed to fulfill customer needs or wants. It is a tangible or intangible item that is offered in the market for purchase or consumption. Therefore, a product is capable of satisfying customer needs, making the given answer incorrect.

Explanation

This statement is false. A product is actually something that is created or designed to fulfill customer needs or wants. It is a tangible or intangible item that is offered in the market for purchase or consumption. Therefore, a product is capable of satisfying customer needs, making the given answer incorrect.

2. Product range -is a collection of similar products offered by the same business

True

False

The statement is true because a product range refers to a group of similar products that are offered by the same business. It includes different variations of a product or different products within a specific category. This allows the business to cater to different customer preferences and needs, providing a wider selection for consumers to choose from.

Explanation

The statement is true because a product range refers to a group of similar products that are offered by the same business. It includes different variations of a product or different products within a specific category. This allows the business to cater to different customer preferences and needs, providing a wider selection for consumers to choose from.

3. Brand extension is when a business uses a brand name on a new product that had some brand charetertsics. which of the one below is not a brand extension

Dove soap and dove shampoo

Mars bar and mars ice cream

Persil washing up liquid and persil washing tablets

Dairy milk and freddo

Dairy milk and freddo are not a brand extension because both products are already under the same brand name "Cadbury." While the other options involve using the brand name on a new product with similar brand characteristics, Dairy Milk and Freddo are both existing products under the Cadbury brand. Therefore, they cannot be considered brand extensions.

Explanation

Dairy milk and freddo are not a brand extension because both products are already under the same brand name "Cadbury." While the other options involve using the brand name on a new product with similar brand characteristics, Dairy Milk and Freddo are both existing products under the Cadbury brand. Therefore, they cannot be considered brand extensions.

4. Which of these below are not ways of product differentiation

Branding

Performance

Distinctive design

Promotion

Promotion is not a way of product differentiation because it refers to the marketing activities used to communicate and persuade customers about the benefits and features of a product. While promotion can help create awareness and generate interest in a product, it does not inherently differentiate the product itself from competitors. Product differentiation is achieved through factors such as branding, performance, and distinctive design, which make the product unique and stand out in the market.

Explanation

Promotion is not a way of product differentiation because it refers to the marketing activities used to communicate and persuade customers about the benefits and features of a product. While promotion can help create awareness and generate interest in a product, it does not inherently differentiate the product itself from competitors. Product differentiation is achieved through factors such as branding, performance, and distinctive design, which make the product unique and stand out in the market.

5. Parts of product Specification and _______ ______ and Styling Functions and benefits __________ Range

The given answer is correct because it provides the missing words that complete the list of parts of a product. The first missing word is "materials" which refers to the substances used to make the product. The second missing word is "Design" which relates to the visual appearance and layout of the product. The third missing word is "packaging" which refers to the container or wrapping in which the product is presented. These three elements are essential components in the overall specification and styling, as well as the functions and benefits of a product.

Explanation

The given answer is correct because it provides the missing words that complete the list of parts of a product. The first missing word is "materials" which refers to the substances used to make the product. The second missing word is "Design" which relates to the visual appearance and layout of the product. The third missing word is "packaging" which refers to the container or wrapping in which the product is presented. These three elements are essential components in the overall specification and styling, as well as the functions and benefits of a product.

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6. Which of these brands below are not a premium brand

Heinz

Reggae reggae

Birds eye

Tesco own brand

Tesco own brand is not considered a premium brand because it is a store brand or private label brand, which typically offers products at a lower price point compared to premium brands. Premium brands are usually associated with higher quality, exclusivity, and higher price tags. Heinz, Reggae Reggae, and Birds Eye are all well-known brands that are often considered premium brands in their respective categories.

Explanation

Tesco own brand is not considered a premium brand because it is a store brand or private label brand, which typically offers products at a lower price point compared to premium brands. Premium brands are usually associated with higher quality, exclusivity, and higher price tags. Heinz, Reggae Reggae, and Birds Eye are all well-known brands that are often considered premium brands in their respective categories.

7. Go on the internet and find the 4 factors in the Boston Matrix

The given answer lists the four factors in the Boston Matrix, which are star, problem child, cash cow, and dogs. The Boston Matrix is a tool used in strategic management to analyze a company's product portfolio. Stars are products with high market share and high market growth, problem child refers to products with low market share but high market growth potential, cash cows are products with high market share but low market growth, and dogs are products with low market share and low market growth. These factors help in categorizing products and determining appropriate strategies for each category.

Explanation

The given answer lists the four factors in the Boston Matrix, which are star, problem child, cash cow, and dogs. The Boston Matrix is a tool used in strategic management to analyze a company's product portfolio. Stars are products with high market share and high market growth, problem child refers to products with low market share but high market growth potential, cash cows are products with high market share but low market growth, and dogs are products with low market share and low market growth. These factors help in categorizing products and determining appropriate strategies for each category.

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