Marketing - Study Mode

[#121] The _____ identifies the product or brand.
Correct Answer

(B) Label

Explanation

Solution: The Label identifies the product or brand. The brand name is the central focus on the label for identifying a product. Nevertheless, such elements as the logos, brand marks, color schemes, designs, and graphics may also serve to identify a specific brand.

[#122] A(n) _________ product exceeds customer expectations.
Correct Answer

(C) Augmented

Explanation

Solution: An augmented product exceeds customer expectations. The AUGMENTED product is the non-physical part of the product. It usually consists of lots of added value, for which you may or may not pay a premium.

[#123] The skimming, penetration, bargaining and bundling are decided in the ____________ of the Marketing Mix strategy.
Correct Answer

(A) Price Decisions

Explanation

Solution: The skimming, penetration, bargaining and bundling are decided in the price decisions of the Marketing Mix strategy. Pricing decisions are basically decided on the basis of Cost of the product.

[#124] Marketing Mix is the most visible part of the marketing strategy of an organization.
Correct Answer

(A) TRUE

Explanation

Solution: Marketing Mix is the most visible part of the marketing strategy of an organization. A marketing strategy refers to a business' overall game plan for reaching prospective consumers and turning them into customers of the products or services the business provides. A marketing strategy contains the company’s value proposition, key brand messaging, data on target customer demographics, and other high-level elements.

[#125] Businesses spend most of their advertising expenses on business-to-business markets.
Correct Answer

(B) FALSE

Explanation

Solution: Businesses spend most of their advertising expenses on business-to-customer (B2C) markets. Business-to-business marketing (or B2B marketing, as it is commonly known) involves the sale of one company's product or service to another company.