The Market Mix-Product, Distribution and Price
all of these
Channels of distribution include the routes that products and services take
True
A written marketing plan can help you determine whether your marketing strategies are solid and help you get financing for your business.
Identify your competition
A written marketing plan should do all of the following except
minimize sales
All of the following are price objectives except
True
Although publicity is free, it can be negative if the media coverage is unfavorable.
True
Although television advertising is very effective it is expensive and generally reaches too broad an audience for businesses.
False
An advantage of advertising in a telephone directory is that people look there for a particular type of business.
False
Because short term goals should help you determine how to target your marketing, they should not be stated in terms of profit levels.
True
Businesses can increase market share for their companies y networking with potential customers.
True
Businesses can offer sales promotions as incentives to customers in order to increase sales.
for the products and services they sell
Businesses need channels of distribution
high enough to make a profit
Businesses should always set their prices
False
If a short term goal is to generate traffic in a retail store, the marketing strategy should focus on the market share of the competition.
True
If entrepreneurs do not have good personal selling skills, they can take courses to improve their skills.
False
In choosing an advertising medium, cost is the most important factor.
consider its effectiveness in reaching your target market
In choosing an advertising medium, you should
mailing lists for target markets are available for purchase
The main advantage of direct-mail advertising is that
False
The routes that products take from the time they are produced until they arrive at a retail store are the channels of distribution.
True
To determine the market share of a business, the total market for a product must be known.
positions its product in a certain market
To satisfy a specific customer need, a business
True
Product features include color, size, quality, hours, warranties, delivery and installation.
create marketing strategies to achieve a short term goal
Product, distribution, price, and promotion can be used to
True
Products in the same category, such as cars, are positioned in the market to serve different customer needs.
all of these
Publicity is free promotion that
True
Retail stores can distribute their products to consumers by having convenient hours for customers, by shipping directly to consumers, or through the Internet.
True
Short term goals are used to create marketing strategies for each element of the marketing mix.
False
Short term goals are what you want business to achieve in the next 2 or 3 years.
all of these
Short term goals can be stated in terms of
False
The different products and services a business sells is its product selection.
help shape your marketing plan
Marketing goals
all of these
A business may set its prices for products or services using
an entrepreneur's personal-selling skills
A critical factor in the success of any business is
False
A disadvantage of direct-mail advertising is that it is difficult to determine how to reach only your target customers.
it is only an audio message
A disadvantage of radio advertising is that
True
A marketing mix is the blending of product, distribution, price and promotion to satisfy a target market.
Advertising
A paid form of communication sent out by a business about a product or service is
False
A press release is a written statement issued by the media to inform the public of an event or product.
is the different products and services a business sells
A product mix
False
A radio station will provide a psychographic profile of its listeners so that businesses can be sure they reach their target market.
sales promotion
Contest, coupons, free samples, and rebates are examples of
False
Demand-based pricing is usually only used by businesses that are monopolies.
may be a good idea for many businesses
Distributing a product or service on the Internet
True
Established short, medium, and long term marketing goals ensures that the marketing you do today fits the vision you have for your business.
False
Long term goals show where you would like your business to be 5 or 10 years from now, but do not help you think about how to market your business today.
False
Market share for a business is found by dividing the total market size by the business's sales.
2 to 5 years
Medium term goals describe what you want your business to achieve in
all of these
Networking is
it targets a limited geographic area
Newspaper advertising is good for small businesses because
True
Newspaper advertising is good for small businesses because it targets a limited geographic area
the marketing mix
Price is one of the elements of______________
False
Unlike retail businesses, service businesses do not have channels of distribution because they produce the services they sell.
False
With competition-based pricing, the price charged is the same as the price charged by competitors.
using the wholesale cost of an item
With cost-based pricing, a price is determined by
True
With cost-based pricing, the price is determined by using the wholesale cost of an item as the basis for the price charged.