Unit 9 Marketing Mix Design for Products
(End of Unit Assessment)
1.
Marketing strategy involves THREE activities: selecting one or more target markets, setting
marketing objectives, and ……
a) developing and maintaining a marketing mix of 4P
b) developing and maintaining product
c) developing and maintaining price
d) developing and maintaining promotion
Solution
a) Correct.
b) Incorrect. This is an incomplete answer as product is being one of the 4P to be managed.
c) Incorrect. This is an incomplete answer as price is being one of the 4P to be managed.
d) Incorrect. This is an incomplete answer as promotion is being one of the 4P to be
managed.
2.
Marketing objectives are required to be consistent with ……, measurable, and specific in
terms of timeframe during which they are to be achieved.
a) strategic unit objectives
b) organisational objectives
c) departmental objectives
d) sectional objectives
Solution
a) Incorrect. This is an inappropriate answer as strategic unit is a division or product line of
an organisation that can be considered a business.
b) Correct.
c) Incorrect. This is an inappropriate answer as department is being part of an organisation.
d) Incorrect. This is an inappropriate answer as section is being part of an organisation.
3.
Three levels of a product include: Core, Actual and ……
a) Unsought
b) Consumer
c) Industrial
d) Augmented
1
As at August 2008
Solution
a) Incorrect. Unsought product is one kind of the consumer products which means a new
innovation and thus heavy promotion is to be required for its launch.
b) Incorrect. Consumer product is not described as per “levels”. Instead, it is a product
which is bought by final consumers for personal consumption.
c) Incorrect. Industrial product is not described as per “levels”. Instead, it is a product
which is bought by users for further processing or for use in conducting business.
d) Correct.
4.
Prices charged to customers multiplied by the number of units sold equal ……
a) Cost
b) Profit margin
c) Selling prices
d) Revenue
Solution
a) Incorrect. Cost is the price for the company to pay for the raw materials and related
input materials to produce the product.
b) Incorrect. Profit margin is the mark up that charge the consumer on top of the cost of
production.
c) Incorrect. Selling price is the prices that charge the consumers on buying the products.
d) Correct.
5.
The independent organisations involved in the process of making a product available for use
by consumers are called ……
a) marketing intermediaries.
b) jobbers.
c) retailers.
d) wholesalers.
Solution
a) Correct.
b) Incorrect. Jobbers are firms to line up wholesalers and retailers in the channel of
distribution.
c) Incorrect. Retailers help involve in all activities on selling products directly to final
consumers for their personal or non business use. Retailers are one kind of marketing
intermediaries.
d) Incorrect. Those firms are called as wholesalers who engaged primarily in wholesaling
activity. Wholesalers are one kind of marketing intermediaries.
2
As at August 2008
6.
Product attributes include product quality, product features, and ……
a) product benefits.
b) product values.
c) product design.
d) product branding.
Solution
a) Incorrect. Product benefits have similar meaning as product attributes.
b) Incorrect. Product value is the perceived benefits of consumers which is subjective and
varies among different customers.
c) Correct.
d) Incorrect. Product branding does not contribute to the attributes that consumers want.
7.
THREE basic policies for setting a price on a new product are price skimming, penetration
pricing, and ……
a) status quo pricing.
b) high pricing.
c) low pricing .
d) special pricing.
Solution
a) Correct.
b) Incorrect. There is no definition of term called high pricing in marketing management of
developing a pricing strategy.
c) Incorrect. There is no definition of term called low pricing in marketing management of
developing a pricing strategy.
d) Incorrect. There is no definition of term called special pricing in marketing management
of developing a pricing strategy.
8.
FOUR stages of the product life cycle (PLC) are introduction, growth, maturity, and
_________ stages.
a) disappear
b) decline
c) demotivate
d) diminish
Solution
a) Incorrect. There is no definition of term called “Disappear” in marketing management
of defining the product life cycle of a product.
3
As at August 2008
b) Correct.
c) Incorrect. There is no definition of term called “Demotivate” in marketing management
of defining the product life cycle of a product.
d) Incorrect. There is no definition of term called “Diminish” in marketing management of
defining the product life cycle of a product.
9.
SWOT analysis includes the evaluation to a marketing firm’s strengths, threats,
opportunities, and __________.
a) word of mouth
b) worldwide network
c) weaknesses
d) worthiness of existence
Solution
a) Incorrect. This is not the answer as the per traditional management concept.
b) Incorrect. This is not the answer as the per traditional management concept.
c) Correct.
d) Incorrect. This is not the answer as the per traditional management concept.
10. The final stage on developing an e-marketing plan is __________
a) developing a situational review.
b) developing a contingency plan.
c) developing an action plan.
d) developing a control system.
.
Solution
a) Incorrect. This is the first step as suggested by Ian Chaston.
b) Correct.
c) Incorrect. This is the fifth step as suggested by Ian Chaston.
d) Incorrect. This is the seventh step as suggested by Ian Chaston
4
As at August 2008