Tag: evolution of marketing

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Questions Related to evolution of marketing

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

Who coined the expression marketing mix?

  1. Henry Fayol

  2. Neil Borden

  3. Peter Drucker

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

Professor Neil Borden published a retrospective article detailing the early history of the marketing mix. Marketing mix is a combination of factors that are in a company's control to influence consumers to purchase its products. The 4P's of marketing mix are product, price, promotion and place.

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 starts from (starting point) factory_____________.

  1. Product concept

  2. Selling concept

  3. Production concept

  4. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Production Concept, Product Concept and selling Concept starting from factory. Continuous exposure to advertising and personal selling leads many people to link marketing and selling, or to think that marketing activities start once goods and services have been produced.

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

Marketing mix is the set of the ____________.

  1. Production tools

  2. Publicity tool

  3. Marketing tools

  4. Selling tools
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The marketing mix has been defined as the set of marketing tools that the firm uses to pursue its marketing objectives in the target market.

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

Which one of the following is the desired future position?

  1. Financial Statement

  2. Vision Statement

  3. Objectives

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

The vision statement of a company is the desired future that a company is aiming towards. A vision statement is a a reminder of the main aim that it wants to persue and accomplish.

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

__________ defines Marketing Mix as "set of marketing tools that the firm uses to pursue its marketing objectives in the target market".

  1. Culliton

  2. Kotler

  3. William

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

Philip Kotler is widely recognized for defining the marketing mix as the set of marketing tools that a firm uses to pursue its marketing objectives in the target market.

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

______defines Marketing Mix is the combination of four inputs which constitute the core of a company's marketing system, i.e., the product, the price structure, the promotional activities and the distribution system.

  1. Culliton

  2. Kotler

  3. William J. Stanton

  4. Howard and Upton
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

William J. Stanton defined the marketing mix as the combination of four inputs (product, price, promotion, and distribution) that constitute the core of a company's marketing system.

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

Place is one of the four elements of marketing mix.

  1. True

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

Marketing mix is a combination of factors that are in a company's control to influence consumers to purchase its products. The 4P's of marketing mix are-

Product-  A product a tangible or intangible service offered by the company to meet customers' requirements and needs.
Price- Price is the actual amount the end user is expected to pay for the product or service.
Place-  Place refers to the how the product would be made available to the consumers.
Promotion- Promotion refers to all the marketing strategies that would persuade a consumer to buy the company's product.

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

What is set of marketing tools that the firm uses to pursue its marketing objectives in the target market called?

  1. Sales

  2. Marketing Mix

  3. Marketing

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

William J. Stanton defined marketing mix as the combination of four inputs (product, price structure, promotion, distribution) forming the core of a company's marketing system.