The questions which follow provide a basic knowledge test of selected concepts covered in this learning pathway: Marketing products and services.
The questions published at the end of each learning pathway are re-used for the knowledge test for learners interested in earning a digital badge or certificate of participation for the Core foundations of successful marketing (PKMT101) micro-course. Please consult the Certify participation page for more information.
Indicate whether the following statements are true or false:
- Marketing is only conducted by for-profit companies.
- True
- Incorrect. All organizations utilize marketing to communicate value to their customers – including for profit, nonprofit, government, academia and more.
- False
- Correct. Marketing is conducted by all organizations wishing to communicate value to their customers or stakeholders.
- Metrics are important because they measure results.
- True
- Correct. Metrics are measures that indicate the performance of a marketing campaign. These can include quantitative measures such as number of web visits, sales volume or increases in revenue. Qualitative measures include why a consumer purchased a product / service at a given time compared with an alternative, or how the purchase was made.
- False
- Incorrect. Metrics are used by different organizations to ensure that their marketing plans and campaigns are on-track and delivering results. Metrics are a valuable form of feedback, that can be used to inform future market activities, and prompt changes to current activities.
- Profit is part of the marketing mix, also know as the “four P’s”.
- True
- Incorrect. The 4Ps are: product, price, place and promotion.
- False
- Correct. While profit is a desired outcome, it is not part of the 4Ps.
- Advertising and sales are included in Promotion, part of the “four P’s”.
- True
- Correct. Advertising, sales (direct, indirect) and e-commerce are all part of an organization’s marketing mix.
- False
- Incorrect. Advertising and sales are an important part of the marketing mix, as they allow a company to take control of the effort to educate and reach customers.
Multiple choice questions
- Which of the following is the best definition of marketing?
- Marketing is about selling the right products and services to customers
- Not exactly – although matching products to customer needs and selling to them are some of marketing’s functions.
- Marketing is about making a profit from providing products or services to customers or organisations
- Not really – as marketing is also about non-profit services like those non-profit and government organisations provide.
- Marketing is about providing value to consumers
- Correct – when we use the term value, we mean the benefits buyers receive that meet their needs.
- Which of the following is correct?
- Television was an important form of distribution and educating customers
- Correct – television was a very important element of mass media to reach many people cost-effectively. Currently, it is being overtaken by other forms of (digital) media.
- Television is a communication not distribution channel
- Incorrect – television, as a mass media communications approach, has distributed products and educated consumers about the benefits and features of products and services.
- Television is part of the marketing mix
- Not really – you must be thinking of the promotional mix that television can be part of as a media.
- Which of the following is correct?
- Spreading the essential message to successfully market products and services is part of pricing
- Not exactly – it is part of promotion.
- Spreading the essential message to successfully market products and services is part of promotion
- Correct – a key part of promotion is to communicate and spread the essential message and reach target customers.
- Spreading the essential message to successfully market products and services is an important function of distribution
- No – it is an important function of promotion.
- Which statement best describes value?
- Value is the benefits buyers receive that meet their needs
- Correct – In other words, value is what the customer gets by purchasing and consuming a company’s offering.
- Value is the profit a company makes from selling products and services
- Incorrect – although the offering is created by the company, the value is determined by the customer.
- Value is the difference between the price a customer pays and the cost to the company to produce the product
- No – that is the profit the company makes.
The questions which follow provide a basic knowledge test of selected concepts covered in this learning pathway: Marketing products and services.
The questions published at the end of each learning pathway are re-used for the knowledge test for learners interested in earning a digital badge or certificate of participation for the Core foundations of successful marketing (PKMT101) micro-course. Please consult the Certify participation page for more information.
True - false questions
Indicate whether the following statements are true or false:
Multiple choice questions
Content is available under the
Creative Commons Attribution Share Alike License.
Privacy Policy | Authors