mgt103 final exam
Questions and Answers
What does value in pricing emphasize?
A) Features
B) Benefits
C) Costs
D) Discounts
✓✓~ Benefits
Which of the following is NOT one of the Seven Ps of Services Marketing?
A) Product (Service)
B) Branding
C) Price
D) Place (Distribution)
✓✓~ Branding
,What pricing strategy involves setting a high price initially and then gradually
lowering it over time?
A) Skimming Pricing
B) Penetration Pricing
C) Prestige Pricing
D) Price Lining
✓✓~ Skimming Pricing
Which of the following is NOT a function performed by intermediaries in marketing
channels?
A) Transactional Function
B) Logistical Function
C) Facilitating Function
D) Distribution Function
✓✓~ Distribution Function
Off-Peak Pricing is mentioned in one of the Seven Ps of Services Marketing.
True
False
,✓✓~ True; falls under price
off-peak pricing: charging different prices during different seasons of the year and
different times of the day or days of the week to reflect variations in demand for
service
Value-Pricing focuses on stressing features rather than benefits.
True
False
✓✓~ False
Value-pricing focuses on emphasizing the benefits rather than just the features of a
product or service. The idea is to highlight how the product or service provides value
to the customer, addressing their needs and solving their problems, rather than just
listing its features.
Intensive Distribution aims to provide the best coverage of the target market.
True
False
✓✓~ True
The Planning Phase of the Strategic Marketing Process: An effective marketing plan
should have simple, clear, and specific plans.
, True
False
✓✓~ True
The concept that links internal service quality to customer satisfaction and company
profitability is known as the __________.
✓✓~ Service-Profit Chain
One of the four approaches for selecting an approximate price level is __________
pricing.
✓✓~ demand-oriented
The Multichannel Marketing Multiplier involves the blending of different __________
and delivery channels.
✓✓~ communication
One of the five elements of the promotional mix is __________.
✓✓~ advertising
In the growth phase of the product life cycle, profits peak.
Questions and Answers
What does value in pricing emphasize?
A) Features
B) Benefits
C) Costs
D) Discounts
✓✓~ Benefits
Which of the following is NOT one of the Seven Ps of Services Marketing?
A) Product (Service)
B) Branding
C) Price
D) Place (Distribution)
✓✓~ Branding
,What pricing strategy involves setting a high price initially and then gradually
lowering it over time?
A) Skimming Pricing
B) Penetration Pricing
C) Prestige Pricing
D) Price Lining
✓✓~ Skimming Pricing
Which of the following is NOT a function performed by intermediaries in marketing
channels?
A) Transactional Function
B) Logistical Function
C) Facilitating Function
D) Distribution Function
✓✓~ Distribution Function
Off-Peak Pricing is mentioned in one of the Seven Ps of Services Marketing.
True
False
,✓✓~ True; falls under price
off-peak pricing: charging different prices during different seasons of the year and
different times of the day or days of the week to reflect variations in demand for
service
Value-Pricing focuses on stressing features rather than benefits.
True
False
✓✓~ False
Value-pricing focuses on emphasizing the benefits rather than just the features of a
product or service. The idea is to highlight how the product or service provides value
to the customer, addressing their needs and solving their problems, rather than just
listing its features.
Intensive Distribution aims to provide the best coverage of the target market.
True
False
✓✓~ True
The Planning Phase of the Strategic Marketing Process: An effective marketing plan
should have simple, clear, and specific plans.
, True
False
✓✓~ True
The concept that links internal service quality to customer satisfaction and company
profitability is known as the __________.
✓✓~ Service-Profit Chain
One of the four approaches for selecting an approximate price level is __________
pricing.
✓✓~ demand-oriented
The Multichannel Marketing Multiplier involves the blending of different __________
and delivery channels.
✓✓~ communication
One of the five elements of the promotional mix is __________.
✓✓~ advertising
In the growth phase of the product life cycle, profits peak.
