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Exam 15: Managing the Marketing Mix: Product, Price, Place, and Promotion

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Question 151

Multiple Choice

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The best product development strategy for most firms is to:

A) develop a small number of products that achieve market success and stick with them,because constantly changing old products (or introducing new ones) can confuse and frustrate customers.
B) constantly monitor consumer wants and needs and be willing to develop new products and adapt policies and services as those needs begin to change.
C) focus on the actual product or service and don't worry too much about factors such as image,price,and service.
D) maintain one product line while adding regularly to that product line over time to sustain customer interest.

E) None of the above
F) All of the above

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Question 152

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The trend towards large,self-service retailers has increased the importance of packaging.

A) True
B) False

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Question 153

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Marketing managers are aware that products can take on the characteristics of the store in which they are sold.

In putting together a promotion mix,characteristics of the target consumers need to be considered.

A(n) ______consists of the marketing intermediaries that transport and store goods as they move through their path from producer to final user.

A_______ has direct responsibility for all the elements of the marketing mix for one brand or product line.

One of the reasons marketers emphasize non-price differences in their competitive strategies is because:

Firms utilize ______when they attempt to add value to their product by offering service after the sale,product demonstrations,or interactive customer Web sites.

Patrick Bolger is convinced that his product idea has tremendous potential.He has decided to produce the product himself,but plans to use other firms who specialize in storing and transporting the product to help him move the product along its path to the final consumer.These specialists Patrick uses will be part of his product's:

The Procter & Gamble Company is a major producer of bar soaps.In fact,Procter & Gamble produces Ivory,Camay,Lava,Safeguard,Zest,and Coast bar soaps that all claim a variety of benefits.These products are of Proctor & Gamble's ______in bar soaps.

From a marketing management perspective,what is the meaning of a total product offer? What are the important elements in the total product offer of your college or university?

The Procter & Gamble Company produces bar soap,disposable diapers,deodorants,laundry detergents,peanut butter,cookies,cake mix,shampoo,shortening,coffee,and many other products.These products are part of P&G's:

Most marketing intermediaries have survived in the past because consumers were unaware of how much these companies add to the cost of distributing goods.

The target costing strategy establishes a selling price that consumers are willing to pay for a product,and then subtracts a desired profit margin to determine a target cost of production.

An effective public relations program informs the public that the firm is responsive to their needs.

While the packaging of services has not yet captured the attention of businesses,technological improvements will likely create new opportunities.