MARKETING MIX

Question 1

MARKETING MIX

Answer 1

A systematic combination of 4 elements - price, place, product and promotional activities used to satisfy the needs of an organization’s target market and at the same time achieve its market objectives

Question 2

MARKETING MIX FEATURES

Answer 2

1. increasing sales and profit
2. integrated approach
3. link
4. equilibrium

Question 3

PROMOTION MIX

Answer 3

The process of communication with potential buyers involving information, persuasion, influence.
It includes all types of personal and impersonal communications with customers

Question 4

FUNCTIONS OF PROMOTION MIX

Answer 4

1. to build an image
2. to provide information

Question 5

ELEMENTS OF PROMOTION MIX

Answer 5

1. Advertising
2. Personal Selling
3. Sales Promotion
4. Publicity

Question 6

ADVERTISING

Answer 6

It is any paid form of nonpersonal presentation and promotion of ideas, goods and services by an identified sponsor

Question 7

ADVERTISING FEATURES

Answer 7

1. paid form
2. non personal form
3. identified sponsor
4. mass communication
   5.wide variety of media

Question 8

ADVERTISING OBJECTIVES

Answer 8

1. new product
2. goodwill
3. loyalty
4. educate
5. competition

Question 9

SALES PROMOTION

Answer 9

Sales Promotion refers to all those activities other than advertising and personal selling that stimulates consumer purchasing and dealer effectiveness
Activities includes distribution of free sample, premium or bonus offers, free coupons, etc

Question 10

FEATURES OF SALES PROMOTION

Answer 10

1. not a routine
   2.supplement advertising
2. short term
3. targeted

Question 11

OBJECTIVES OF SALES PROMOTION

Answer 11

1. on the spot
2. immediate sales
   3.old stocks
3. supplement advertising
4. demand

Question 12

PERSONAL SELLING

Answer 12

Personal Selling is a process of informing, assisting and persuading people to buy a service through direct personal contact and involves face to face communication between the buyer and seller

Question 13

FEATURES OF PERSONAL SELLING

Answer 13

1. Personal interaction
2. Art
   3.Two way communication
   4.Pervasive
3. long lasting benefit

Question 14

OBJECTIVES OF PERSONAL SELLING

Answer 14

1. increase
2. introduce
3. grievances
4. switch
5. feedback

Question 15

PUBLICITY

Answer 15

Publicity is a news carried in the mass media about an organization and products, services and activities which are not paid for by it.
Publicity can be positive and negative.
It is free of cost as the company does not pay for any time and space in the media
Publicity is not always under control of the company

Question 16

FEATURES OF PUBLICITY

Answer 16

1. not paid
2. favourable news
3. media
4. no direct control
5. negative

Question 17

OBJECTIVES OF PUBLICITY

Answer 17

1. inform
2. highlight
3. public attention
4. to warn

Question 18

PRICE MIX

Answer 18

The term price denotes the money value of a product or service.It is the amount of money that a seller is asking for the product or service he offers for sale or the amount which buyers are to pay
It not only determination of base price but also the terms and conditions for sale.
Price determines largely the sales value and profit margins.
Price structure affects the competitive position and market share of the firm.
A firm does not succeed if its price are too high or too low.
to the consumer, price determines his purchasing power and standard of living.

Question 18

PLACE MIX

Answer 18

Place element of marketing mix refers to the distribution of the product to make them available to customer for purchase and consumption
Distribution of the product is an important factor because if the product is not available in the right place at the right time in a right quantity, they would not buy the product

Question 18

FACTORS DETERMINING PRICE

Answer 18

1. Objective of the firm
2. Cost of the product
3. Competition in the market
4. Buying Motives
5. Governmental Control

Question 19

DISTRIBUTION (PLACE MIX) 2 BROAD FUNCTION

Answer 19

1. the choice of distribution channel through which the product which the product flows from the manufacturers to ultimate consumers
2. physical distribution comprising transportation and storage of goods

Question 20

CHANNEL OF DISTRIBUTION

Answer 20

A channel of distribution is the route along which the product flows from point of production to the point of ultimate consumption or use.
A distribution channel serves as a connecting link between the producer and consumer.

Question 21

CHANNEL OF DISTRIBUTION 3 TYPES OF FLOWS

Answer 21

1. Product flows downwards from producer to consumer
2. Cash flows upwards from consumers to the producers as payment of products
3. Marketing information flows in both directions

Question 22

CHANNEL OF DISTRIBUTION FUNCTIONS

Answer 22

1. sorting
2. accumulation
3. allocation
4. promotion
5. risk taking

Question 23

MANUFACTURER - CONSUMER ADVANTAGES

Answer 23

1. very fast and economical 2. direct contact

Question 24

MANUFACTURER - CONSUMER DISADVANTAGES

Answer 24

1. expert service 2. large investment

Question 25

DIRECT DISTRIBUTORS ARE SUITABLE FOR IN WHICH CASES (MANUFACTURER - CONSUMER)

Answer 25

1. when customer buy in large quantity 2. When customers are concentrated in small areas 3. Incase of industrial products 4. Incase of perishable product like milk, eggs, fruits etc

Question 26

CHOICE OF CHANNEL OF DISTRIBUTION

Answer 26

1. product- related factors 2. market - related factors 3. company - related factors 4. middlemen- related factors

Question 27

PRODUCT RELATED FACTORS

Answer 27

1. unit value 2. perishability 3. bulk and weight 4. standardization 5.complexibility of a product

Question 28

MARKET RELATED FACTORS

Answer 28

1. Nature of the market 2. size of market 3. geographical situation 4. size and frequency of the product

Question 29

COMPANY RELATED FACTORS

Answer 29

1. financial strength 2.desire for control 3. volume of output

Question 30

MIDDLE MEN RELATED FACTORS

Answer 30

1. availability 2.attitude 3.service 4. sales

Question 31

PHYSICAL DISTRIBUTION

Answer 31

A series of interrelated activities involved in the movement, storage, control etc of a material and finished goods so that they are available at the right time and right place. The main element like warehousing and transportation etc