25 MULTIPLE CHOICE QUESTIONS &
VALID CORRECT ANSWERS
Product - Correct Answer ✔✔ Decisions include what to make or obtain as the
business's product mix.
Place - Correct Answer ✔✔ Decisions include where the customer can obtain the
products. Many businesses utilize multiple channels of distribution.
Price - Correct Answer ✔✔ Decisions include determining what a customer is willing to
pay.
Promotion - Correct Answer ✔✔ Decisions include the promotional mix (advertising,
sales promotion, selling, and publicity).
Goals - Correct Answer ✔✔ Established on a yearly basis and support the mission
statement. Goals must be measurable and have a deadline.
Strategies - Correct Answer ✔✔ Are then developed to accomplish goals and it reflects
the method to achieve the goal
Tactics - Correct Answer ✔✔ Are then developed to accomplish the strategies; it is the
how things will be done, daily actions.
Mass Market - Correct Answer ✔✔ Is when the group is considered as a whole with all
the marketing activities; using a single marketing plan.
Market Segmentation - Correct Answer ✔✔ Is the process of dividing a larger market
into smaller parts.
Market segment - Correct Answer ✔✔ Is a subgroup of a larger market that share one
or more characteristics.
Demographic Segmentation - Correct Answer ✔✔ Statistics that describe a population
by personal characteristics such as age, gender, income, marital status, ethnicity,
education, & occupation.
Psychographic Segmentation - Correct Answer ✔✔ Markets divided by social and
psychological characteristics. (Lifestyles, morals, values, & interests).
Geographic Segmentation - Correct Answer ✔✔ Markets divided by where the
customer lives.
VALID CORRECT ANSWERS
Product - Correct Answer ✔✔ Decisions include what to make or obtain as the
business's product mix.
Place - Correct Answer ✔✔ Decisions include where the customer can obtain the
products. Many businesses utilize multiple channels of distribution.
Price - Correct Answer ✔✔ Decisions include determining what a customer is willing to
pay.
Promotion - Correct Answer ✔✔ Decisions include the promotional mix (advertising,
sales promotion, selling, and publicity).
Goals - Correct Answer ✔✔ Established on a yearly basis and support the mission
statement. Goals must be measurable and have a deadline.
Strategies - Correct Answer ✔✔ Are then developed to accomplish goals and it reflects
the method to achieve the goal
Tactics - Correct Answer ✔✔ Are then developed to accomplish the strategies; it is the
how things will be done, daily actions.
Mass Market - Correct Answer ✔✔ Is when the group is considered as a whole with all
the marketing activities; using a single marketing plan.
Market Segmentation - Correct Answer ✔✔ Is the process of dividing a larger market
into smaller parts.
Market segment - Correct Answer ✔✔ Is a subgroup of a larger market that share one
or more characteristics.
Demographic Segmentation - Correct Answer ✔✔ Statistics that describe a population
by personal characteristics such as age, gender, income, marital status, ethnicity,
education, & occupation.
Psychographic Segmentation - Correct Answer ✔✔ Markets divided by social and
psychological characteristics. (Lifestyles, morals, values, & interests).
Geographic Segmentation - Correct Answer ✔✔ Markets divided by where the
customer lives.
