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Test Your Knowledge of the Marketing Mix

7 Questions

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Test Your Knowledge of the Marketing Mix

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Questions and Answers

What is the purpose of marketing mix?

To create a new product

To manufacture the product efficiently

To position the product in the target market segment (correct)

To promote the product to the target market

Which of the following is not one of the 4Ps of marketing mix?

Place

Product

Promotion

Price

What are the additional elements added to comprise the 7Ps?

People, packaging, and positioning

Process, packaging, and positioning

Process, physical evidence, and people (correct)

Physical evidence, packaging, and promotion

What does product refer to?

Tangible goods or intangible services offered by the business Signup and view all the answers

What does place refer to?

The strategic location of the business Signup and view all the answers

What does cost refer to?

The amount spent by the manufacturer in view expected benefits Signup and view all the answers

Why are people involved in the production, marketing, and sale of the product crucial?

They play a key role in the success of the product Signup and view all the answers

Study Notes

Marketing mix is a tool used by entrepreneurs to position the product in the target market segment.
The 4Ps of marketing mix are product, place, price, and promotion.
Three elements have been added to comprise the 7Ps.
Product refers to tangible goods or intangible services offered by the business.
Place refers to the strategic location of the business.
Cost refers to the amount spent by the manufacturer in view expected benefits.
Promotion conveys the presence and attributes of the product to the target consumers.
People involved in the production, marketing, and sale of the product are crucial.
Packaging protects the product and must be user-friendly.
Positioning refers to the place occupied by the product in the minds of consumers.

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Description

Test your knowledge on the essential tool used by entrepreneurs to position their product in the target market segment with our Marketing Mix Quiz! From the 4Ps to the 7Ps, this quiz covers everything you need to know about product, place, price, promotion, people, packaging, and positioning. Sharpen your marketing skills and impress your colleagues with your expertise. Take the quiz now!