Principles Of Business, Marketing And Finance Quiz

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  • 1/5 Questions

    Effective marketing puts the products in the hands of its targeted customers.

    • True
    • False
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About This Quiz

This quiz will be over the notes from Lesson 8 - Production, Distribution, and other Business Operations

Principles Of Business, Marketing And Finance Quiz - Quiz

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  • 2. 

    The marketing mix consists of the four P's, which are product, __________, price, and promotion.

    • Premium

    • Power

    • Place

    Correct Answer
    A. Place
    Explanation
    The marketing mix consists of the four P's, which are product, price, and promotion. "Place" refers to the distribution channels and locations where the product or service is made available to the target customers. It involves decisions related to the selection of appropriate distribution channels, inventory management, warehousing, and logistics. The "place" element of the marketing mix ensures that the product reaches the right customers at the right time and in the right quantities, maximizing its accessibility and convenience for the target market.

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  • 3. 

    The ___________ point is the amount of money a company has to make on a product to pay for its costs.

    • Break-even

    • Total

    • Market

    Correct Answer
    A. Break-even
    Explanation
    The break-even point refers to the specific level of sales or revenue that a company needs to reach in order to cover all of its costs and expenses. At this point, the company is neither making a profit nor incurring a loss. It is the threshold where the company starts to generate profits after covering all its fixed and variable costs.

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  • 4. 

    The seven functions of marketing are: distribution, financing, marketing information management, pricing, ____________________, promotion, and selling.

    • Time

    • Product/service management

    • Advertising

    Correct Answer
    A. Product/service management
    Explanation
    Product/service management is the correct answer because it is one of the seven functions of marketing. This function involves developing and maintaining products or services that meet the needs of customers. It includes activities such as product design, development, branding, packaging, and quality control. By effectively managing products or services, companies can ensure that they are meeting customer demands and staying competitive in the market.

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  • 5. 

    A popular trend in today's marketing world is diversity marketing.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    A popular trend in today's marketing world is relationship marketing.

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  • Current Version
  • Sep 26, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Nov 29, 2010
    Quiz Created by
    Mupshaw

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