Tag: marketing mix

Quizzes (27) Questions (128)

Questions Related to marketing mix

Multiple choice commerce marketing mix marketing environment meaning and definition of marketer role of marketing

Marketing can play a significant role in economic development.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Marketing is an economy's arbiter between productive capacity and consumer demand. In addition, marketing process is a critical element in the effective utilization of the production resulting from economic growth, and balance between higher production and higher consumption.

Multiple choice commerce marketing mix marketing environment meaning and definition of marketer role of marketing

__________ comes from a firm's ability to perform activities more distinctively and more effectively than rivals, thus is allowing a firm to gain an edge over the rivals.

  1. Competitive advantage

  2. Competence

  3. Core competence

  4. Value addition
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Competitive advantage refers to factors or capabilities that allow a company to produce goods or services better or more cheaply than its rivals. This edge enables the firm to generate more sales or superior margins.

Multiple choice organisation of commerce and management marketing mix meaning and objectives of pricing pricing strategies pricing

Fundamental characteristic(s) of relevant costs:
I. They are future costs
II. They differ between alternatives
III. They are Marginal costs
IV. They are fixed costs.

  1. I and II are correct

  2. III and IV are correct

  3. I and III are correct

  4. All are correct
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Relevant costs for decision-making must be future-oriented and must differ between the alternatives being considered. Past costs (sunk costs) are irrelevant.

Multiple choice organisation of commerce and management marketing mix meaning and objectives of pricing pricing strategies pricing

Internal factors of product pricing includes.

  1. Demand and competition

  2. Cost and demand

  3. Market channels and demand

  4. Cost and objectives
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Internal factors affecting pricing include the company's cost structure and its strategic objectives. External factors include demand, competition, and market conditions.

Multiple choice organisation of commerce and management marketing mix meaning and objectives of pricing pricing strategies pricing

Marginal (minimum) cost occurs at the output where __________.

  1. the total product is at a maximum.

  2. the marginal prefect of the variable factors is at a maximum.

  3. the factors are combined In their best possible proportion.

  4. the average product of the variable factors is at a maximum.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Marginal cost is related to the marginal product of variable factors. When the marginal product of a variable factor is at its maximum, the marginal cost of production is at its minimum.

Multiple choice organisation of commerce and management marketing mix meaning and objectives of pricing pricing strategies pricing

Under marketing, which of the following is considered as an ethical issue?

  1. Price discrimination

  2. Fraudulent asset valuations

  3. Issues affecting the privacy of the employer

  4. All of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Price discrimination involves charging different prices to different customers for the same product, which is a significant ethical issue in marketing and competition law.