1. What is the term used to describe the stages a product goes through?
A. Product life cycle Correct
B. Marketing mix
C. Marketing planning process
D. Product width
Explanation
Product life cycle describes the stages a product undergoes: introduction, growth, maturity, and decline. Marketing mix involves the 4 Ps (product, price, place, promotion). Marketing planning process is about strategy development, not product stages. Product width refers to the range of product lines.
2. What is an example of a controllable element in marketing?
A. Increase global popularity
B. Obtain government funding
C. Address customers needs Correct
D. Minimize competition
Explanation
Addressing customers' needs is controllable, as marketers can tailor products or services to meet demands. Increasing global popularity and minimizing competition are external, uncontrollable factors. Obtaining government funding depends on external decisions.
3. The marketing manager of a breakfast cereal issues coupons to encourage purchase of the cereal.
A. Price
B. Strategy
C. Distribution
D. Promotion Correct
Explanation
Issuing coupons is a promotional tactic to incentivize purchases, part of the marketing mix’s promotion element. Price involves setting costs, strategy is broader planning, and distribution deals with delivery channels.
4. A new manufacturer of running shoes plans to use penetration marketing to enter the crowded shoe market by using both retail stores and e-commerce methods.
A. To provide direct distribution channels
B. To increase profit skimming
C. To use omnichannel communication
D. To gain market share Correct
Explanation
Penetration marketing aims to gain market share through low prices or aggressive marketing. Direct distribution channels are a means, not the goal. Profit skimming seeks high initial profits. Omnichannel communication is about integrated messaging.
5. A donut shop owner decides to use radio to advertise weekly specials.
A. Product
B. Price
C. Place
D. Promotion Correct
Explanation
Radio advertising is a promotional activity to communicate specials. Product is the item itself, price is the cost, and place is the distribution channel.