Marketing Mix Quiz

Marketing Concepts

• Marketing is defined as the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Four Ps of Marketing

• The Four Ps of marketing do not include "Quality" as one of its components.

Marketing Process

• The part of the marketing process that involves thoughts about the 'big picture' and where the firm and products fit within it is called Market Analysis.

Economic Communities

• The European Union (EU) includes France, Germany, Greece, Ireland, and Italy among its member states.

Economic Indicators

• Gross Domestic Product (GDP) is used to measure the 'health' of a country's economic environment.

Business Cycles

• A recession is a business cycle that indicates falling demand, employment, and income.

Unethical Pricing Practices

• Dumping is an unethical and often illegal practice involving pricing products lower in foreign markets than in the home market.

Marketing Mix

• The benefit that a customer will realize if he or she purchases a specific product being marketed is called a Value Proposition.

Product Types

• A Service is not a type of product.

Core Competency

• Coca-Cola demonstrates superiority over its competitors in the area of Brand Management.

International Trade

• International Trade refers to the movement of goods and services between countries.

Planning Levels

• Operational Planning involves detailed plans for strategies and tactics for the short term.

Organizational Structure

• A Strategic Business Unit (SBU) is a term used to describe individual units within a firm that operate like separate businesses.

Sustainable Development

• Sustainable development does not focus solely on Environmental Protection.