4Ps Marketing Mix Test: Product, Price, Place, and Promotion

Target Language or Knowledge:

  Section 1: Multiple Choice (5pts) 1. What is the primary purpose of the 'Product' element in the marketing mix?   a) Setting the right price for the target audience   b) Choosing the best advertising platform   c) Developing a good or service that satisfies customer needs   d) Determining the most effective distribution channels 2. What is an example of 'Penetration Pricing'?   a) Introducing a product at a low price to attract customers and increase market share   b) Setting a high initial price and then lowering it over time   c) Using competitor-based pricing strategies   d) Adding a fixed markup percentage to production costs 3. Which of the following is an example of 'Direct Distribution'?   a) Selling products through a retailer like Walmart   b) A company selling its products on its own website   c) Using wholesalers to distribute products to local stores   d) Partnering with third-party e-commerce platforms 4. Which of the following is NOT part of the promotional mix?   a) Advertising   b) Personal Selling   c) Inventory Management   d) Public Relations   5. Which promotional method is best suited for building personal relationships with potential customers?**    a) Public Relations    b) Personal Selling    c) Advertising    d) Direct Mail Marketing Section 2: Matching (4Pts) Match the terms with their correct definitions by writing the corresponding letter next to each number. A.      Exclusive Distribution   _______Setting a price based on perceived value rather than production cost. B.      Value-Based Pricing ______A promotional strategy that ensures all marketing efforts convey a consistent message. C.       Product Differentiation ______A distribution strategy where a brand limits sales to a select number of locations to maintain exclusivity. D.      Integrated Marketing Communications (IMC) _____Developing unique features to make a product stand out from competitors.   Section 3: Fill in the Blank (6pts) 6. A well-structured distribution strategy ensures that products are available at the right ________________________, at the right________________________, and in the right ________________________. 7. A pricing strategy where businesses initially charge a high price and then reduce it over time is called________________________. 8. Companies use ________________________ to measure the effectiveness of a promotional campaign, such as sales growth and customer engagement. 9. ________________________ is the process of selecting the best channels to get a product to customers efficiently.   Section 4: Scenario-Based Questions 10.  A new energy drink company is trying to decide between a penetration pricing strategy and a skimming pricing strategy. Which one would you recommend and why? (2pts) ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ 11. A local business wants to improve its promotional efforts to boost brand awareness and increase sales. What three promotional strategies would you suggest, and how would they work together to create an effective campaign? (4pts) ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ Section 5: Fill-in-the-Blank & Terminology Questions Penetration Exclusive Positioning Break-Even Analysis Branding Price Skimming Intensive Marketing Integration Cost Plus Pricing Differentiation Value-Based Direct Direct Marketing Integrated Marketing Comm Demand Elasticity Promotion Selective Perceived Value Public Relations Psychological   12. In pricing strategy, ________________________ pricing involves setting a high initial price before gradually reducing it over time. 13.  _________________________ distribution is when a product is sold through as many outlets as possible to maximize reach and availability. 14. The marketing practice of ensuring a product has a unique identity and appeal in the market compared to competitors is known as________________________. 15. ________________________ is the process of combining multiple marketing communication tools to ensure a consistent and clear message across all channels. 16. When determining a product’s price, companies must consider ________________________, which is the amount consumers are willing to pay based on their perception of the product's worth. 17. A pricing strategy that calculates the total production cost and adds a fixed percentage markup is called ________________________ pricing. 18. ________________________ pricing is when a company initially sets a low price to attract customers and gain market share before gradually increasing the price. 19. The practice of maintaining a premium brand image by limiting product availability to only certain locations is called ________________________ distribution. 20. ________________________ refers to how a company positions its brand, product, or service in the minds of consumers relative to competitors. 21. A strategy that focuses on making a product different from others in the market is known as ________________________. 22. The practice of reaching customers directly without intermediaries through methods like email and SMS is called ________________________ marketing. 23. The process of calculating the point where revenue equals total costs and no profit or loss is made is known as ________________________. 24. A pricing strategy that bases price decisions on how much customers are willing to pay rather than production costs is called ________________________ pricing. 25. Advertising, social media, and email campaigns are all part of ________________________, which helps businesses communicate with potential customers. 26. When a company limits its distribution to select stores or regions to maintain brand exclusivity, it is using ________________________ distribution. 27. The ability of a product's price to impact demand, where higher prices result in lower sales and vice versa, is called ________________________. 28. A strategic approach to advertising that aligns all communication channels to maintain a consistent message is called ________________________. 29. When a company leverages unpaid media coverage to promote its brand and improve public perception, it is using ________________________. 30. A pricing strategy that takes advantage of how consumers perceive numbers, such as setting prices at $9.99 instead of $10, is called ________________________ pricing.