Tag: sales and selling process

Quizzes (8) Questions (35)

Questions Related to sales and selling process

Multiple choice commercial applications sales and selling process distinction between marketing and sales meaning, elements and factors influencing marketing mix evolution of marketing

An option that gives investors right to sell a stock at predefined price is classified as ______________.

  1. put option

  2. call option

  3. money back options

  4. out of money options
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A put option gives the holder the right, but not the obligation, to sell an underlying asset at a specified price within a specific time period. A call option, by contrast, provides the right to buy.

Multiple choice commercial applications sales and selling process distinction between marketing and sales meaning, elements and factors influencing marketing mix evolution of marketing

Which of the following is not an element of Marketing Mix?

  1. Product

  2. Profit

  3. Price

  4. Promotion
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Marketing Mix is traditionally defined by the 4Ps: Product, Price, Place, and Promotion. Profit is a business objective or outcome, not one of the four core elements of the marketing mix.

Multiple choice commercial applications sales and selling process distinction between marketing and sales meaning, elements and factors influencing marketing mix evolution of marketing

The element of marketing mix is described as.

  1. Profit, power, price and product

  2. Price, product, place and promotion

  3. Place, promotion, product and profit

  4. Product, Price, Place and Promotion
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The 4Ps of the marketing mix are Product, Price, Place, and Promotion. These represent the key variables a company can control to influence the market.

Multiple choice commercial applications sales and selling process distinction between marketing and sales meaning, elements and factors influencing marketing mix evolution of marketing

The classification of Four P's was popularized by _______.

  1. Neil H. Borden

  2. E. Jerome McCarthy

  3. Kotler

  4. Levitt
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

While Neil H. Borden coined the term marketing mix, E. Jerome McCarthy is credited with popularizing the 4Ps classification in his book Basic Marketing: A Managerial Approach.

Multiple choice commercial applications sales and selling process distinction between marketing and sales meaning, elements and factors influencing marketing mix evolution of marketing

Product-mix applies to firms dealing with.

  1. A single product

  2. A number of products

  3. Homogeneous product

  4. Hetrogeneous product
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A product mix refers to the total range of products offered by a company. It is relevant for firms that produce or sell a variety of different items rather than a single product.

Multiple choice commercial applications sales and selling process distinction between marketing and sales meaning, elements and factors influencing marketing mix evolution of marketing

Product policy is needed.

  1. To guide the activities of the firm towards common goal

  2. To lead the firm towards current profits and long term growth

  3. To decide appropriate product mix at any given time

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

Product policy is a comprehensive framework that guides a firm's product-related decisions, including goal alignment, profitability, growth, and the composition of the product mix.

Multiple choice commercial applications sales and selling process distinction between marketing and sales meaning, elements and factors influencing marketing mix evolution of marketing

The composite of products offered for sale by a firm or a business is?

  1. Market mix

  2. Product mix

  3. Distribution of channel

  4. Law of demand
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The product mix is defined as the complete set of all products and items that a particular seller offers for sale to buyers.

Multiple choice commercial applications sales and selling process distinction between marketing and sales meaning, elements and factors influencing marketing mix evolution of marketing

Product policy leads to.

  1. Product objective

  2. Productive strategies

  3. Maximisation profit

  4. Both (A) and (B)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Product policy provides the strategic direction for product development and management, which helps in defining clear objectives and establishing the strategies needed to achieve them.

Multiple choice commercial applications sales and selling process distinction between marketing and sales meaning, elements and factors influencing marketing mix evolution of marketing

The fundamental reason for changing product mix is the change in.

  1. The market supply

  2. The market demand

  3. Population

  4. Consumer behaviour
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Companies adjust their product mix primarily in response to changes in consumer needs and market demand to ensure their offerings remain relevant and profitable.

Multiple choice commercial applications sales and selling process distinction between marketing and sales meaning, elements and factors influencing marketing mix evolution of marketing

Managing product mix is a part of.

  1. Price policy of a firm

  2. Product policy of a firm

  3. Sales policy of a firm

  4. Trade policy of firm
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Managing the product mix, which involves decisions about product lines, depth, and breadth, is a fundamental component of a firm's overall product policy.