Mgt103
Mgt103 Final Exam 2025
What does value in pricing emphasize?
A) Features
B) Benefits
C) Costs
D) Discounts - Correct Ans-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) - Correct Ans-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 - Correct Ans-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 - Correct Ans-Distribution Function
Off-Peak Pricing is mentioned in one of the Seven Ps of Services Marketing.
True
False - Correct Ans-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 - Correct Ans-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 - Correct Ans-True
Mgt103
,Mgt103
The Planning Phase of the Strategic Marketing Process: An effective marketing plan
should have simple, clear, and specific plans.
True
False - Correct Ans-True
The concept that links internal service quality to customer satisfaction and company
profitability is known as the __________. - Correct Ans-Service-Profit Chain
One of the four approaches for selecting an approximate price level is __________
pricing. - Correct Ans-demand-oriented
The Multichannel Marketing Multiplier involves the blending of different __________ and
delivery channels. - Correct Ans-communication
One of the five elements of the promotional mix is __________. - Correct Ans-
advertising
In the growth phase of the product life cycle, profits peak.
True
False - Correct Ans-False
In the growth phase of the product life cycle, sales increase rapidly and profits start to
rise significantly.
In the __________ stage of the product life cycle, the product gets old or gets replaced.
- Correct Ans-decline
Which of the following is NOT typically measured on a marketing dashboard?
A) Sales per week
B) Customer retention
C) Employee satisfaction
D) Brand awareness - Correct Ans-Employee satisfaction
Marketing dashboards can include metrics such as sales per week and customer
retention.
True
False - Correct Ans-True
Gatorade is known for its continuous product development and official drink branding
with which of the following sports leagues?
A) NBA
B) NFL
C) MLB
D) All of the above - Correct Ans-D
Which stage of the product life cycle is characterized by rapid sales growth and
increasing competition?
Mgt103
, Mgt103
A) Introduction
B) Growth
C) Maturity
D) Decline - Correct Ans-Growth
During the maturity stage of the product life cycle, industry/product sales slow and profit
declines.
True
False - Correct Ans-True
Which pricing strategy is used to help recover the costs of development and capitalize
on price insensitivity of early buyers?
A) Skimming strategy
B) Penetration pricing
C) Value pricing
D) Cost-plus pricing - Correct Ans-Skimming strategy
In the introduction stage, the focus is on creating selective demand for a specific brand.
True
False - Correct Ans-True
Introduction stage:
- Stimulate trial: the initial purchase of a product by the consumer
- Creates demand through antecedent effects (sight, smell, etc.)
- Primary demand: the desire for the product class rather than for a specific brand, since
there are few competitors with the same product
-Do a trial to create a primary demand
- Selective demand: the preference for a specific brand
- Go after the buyer persona
- Skimming strategy: help recover the costs of development as well as capitalize on
price insensitivity to early buyers
- Pricing strategy: price the product high because it will cover the cost of development, it
is easier to lower the price than raise the price
- Value = benefits/price
- Penetration pricing
-Have low cost of goods or a lot of cash because you are buying market share
Time, brand loyalty
During the growth stage, advertising shifts to focus on:
A) Primary demand
B) Selective demand
C) Brand loyalty
D) Product features - Correct Ans-Selective demand
Influencers can have a huge influence on the growth stage of a product's life cycle.
True
Mgt103
Mgt103 Final Exam 2025
What does value in pricing emphasize?
A) Features
B) Benefits
C) Costs
D) Discounts - Correct Ans-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) - Correct Ans-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 - Correct Ans-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 - Correct Ans-Distribution Function
Off-Peak Pricing is mentioned in one of the Seven Ps of Services Marketing.
True
False - Correct Ans-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 - Correct Ans-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 - Correct Ans-True
Mgt103
,Mgt103
The Planning Phase of the Strategic Marketing Process: An effective marketing plan
should have simple, clear, and specific plans.
True
False - Correct Ans-True
The concept that links internal service quality to customer satisfaction and company
profitability is known as the __________. - Correct Ans-Service-Profit Chain
One of the four approaches for selecting an approximate price level is __________
pricing. - Correct Ans-demand-oriented
The Multichannel Marketing Multiplier involves the blending of different __________ and
delivery channels. - Correct Ans-communication
One of the five elements of the promotional mix is __________. - Correct Ans-
advertising
In the growth phase of the product life cycle, profits peak.
True
False - Correct Ans-False
In the growth phase of the product life cycle, sales increase rapidly and profits start to
rise significantly.
In the __________ stage of the product life cycle, the product gets old or gets replaced.
- Correct Ans-decline
Which of the following is NOT typically measured on a marketing dashboard?
A) Sales per week
B) Customer retention
C) Employee satisfaction
D) Brand awareness - Correct Ans-Employee satisfaction
Marketing dashboards can include metrics such as sales per week and customer
retention.
True
False - Correct Ans-True
Gatorade is known for its continuous product development and official drink branding
with which of the following sports leagues?
A) NBA
B) NFL
C) MLB
D) All of the above - Correct Ans-D
Which stage of the product life cycle is characterized by rapid sales growth and
increasing competition?
Mgt103
, Mgt103
A) Introduction
B) Growth
C) Maturity
D) Decline - Correct Ans-Growth
During the maturity stage of the product life cycle, industry/product sales slow and profit
declines.
True
False - Correct Ans-True
Which pricing strategy is used to help recover the costs of development and capitalize
on price insensitivity of early buyers?
A) Skimming strategy
B) Penetration pricing
C) Value pricing
D) Cost-plus pricing - Correct Ans-Skimming strategy
In the introduction stage, the focus is on creating selective demand for a specific brand.
True
False - Correct Ans-True
Introduction stage:
- Stimulate trial: the initial purchase of a product by the consumer
- Creates demand through antecedent effects (sight, smell, etc.)
- Primary demand: the desire for the product class rather than for a specific brand, since
there are few competitors with the same product
-Do a trial to create a primary demand
- Selective demand: the preference for a specific brand
- Go after the buyer persona
- Skimming strategy: help recover the costs of development as well as capitalize on
price insensitivity to early buyers
- Pricing strategy: price the product high because it will cover the cost of development, it
is easier to lower the price than raise the price
- Value = benefits/price
- Penetration pricing
-Have low cost of goods or a lot of cash because you are buying market share
Time, brand loyalty
During the growth stage, advertising shifts to focus on:
A) Primary demand
B) Selective demand
C) Brand loyalty
D) Product features - Correct Ans-Selective demand
Influencers can have a huge influence on the growth stage of a product's life cycle.
True
Mgt103
