Marketing mix is defined as the set of activities or strategies that a company or business uses for promoting its products and services in the market.
The 4P’s make up the typical marketing mix and it includes Product, Place, Price and Promotion. In recent times there have been additions to the existing marketing mix and it now includes Packaging, people and positioning as additional components which are collectively known as 7P’s of marketing mix.
The following are some of the multiple choice questions and answers on the concept of Marketing Mix that will help the students in forming a clear idea of the topic.
1. Who suggested product, pricing, place, promotion all these in a company represents “Market Mix”?
(A) Neil Borden
(B) Neilsen
(C) Philip Kotler
(D) Stephen Morse
Answer: A
2. This P is not a part of the 7Ps of marketing mix?
(A) Promotion
(B) Price
(C) People
(D) Purpose
Answer: D
3. It serves as the most common source of leads generation for any company
(A) Yellow pages
(B) Green pages
(C) White pages
(D) Blue pages
Answer: A
4. Marketing of product and service in which the offer itself is not intended to make any monetary profit is called
(A) Profit marketing
(B) Virtual marketing
(C) Digital marketing
(D) Non profit marketing
Answer: D
5. USP is defined as
(A) Unique selling price
(B) Unique sales preposition
(C) Unique selling proposition
(D) Unique strategy promotion
Answer: C
6. The process of setting a low initial price for attracting a large number of buyers quickly to cover a large market share is known as
(A) Going-rate pricing
(B) Market penetration pricing
(C) Value based pricing
(D) Skimming pricing
Answer: B
7. A reduction in price on purchase during a stated period of time is known as.
(A) Sale
(B) Discount
(C) Allowance
(D) None of these
Answer: B
8. Sensitivity of demand to change in price is known as
(A) Cost-plus price
(B) Break-even price
(C) Price elasticity
(D) Inelastic
Answer: C
9. Which among these is concerned with pricing policies for late entrants to a market.
(A) Market penetration
(B) Marketing research
(C) Market skimming
(D) Marketing skills
Answer: A
10. Which among these is not the nature and characteristic of a service.
(A) Intangibility
(B) Durability
(C) Variability
(D) Perishability
Answer: B
For reading more such MCQs on various other Commerce topics, students can visit here
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