Practice MCQ

1. Labeling, Packaging are associated with:

1. Price Mix
2. Product Mix
3. Place Mix
4. Promotion Mix

2. Sets the floor for the price that the company can charge for its product

1. Supply
2. Demand
3. Costs
4. Nonprofit factors

3. Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and ---

1. Market Level Pricing
2. Market Competitive Pricing
3. Market Skimming Pricing
4. Market Price Lining

4. In the maturity phase of the PLC, a marketing manager should consider:

1. dropping the product and moving on to the next product winner
2. modifying the market, product and marketing mix
3. expanding R & D
4. pricing to penetrate the market

5. The stage of PLC characterized by overcapacity, greater competition and the eventual elimination of weaker competitors is called the:

1. Decline Stage
2. Introduction Stage
3. Growth Stage
4. Maturity Stage