ENTR 302: Chapter 15

What do the 4 Ps of the traditional marketing mix stand for?

• people, prospect, presence, pitch

• process, presentation, perception, profit

• product, price, promotion, place

• package, passion, perspective, personality

Pricing is based on the amount the customer is expected to pay for the product, its perceived value, and the degree to which the price can be raised or lowered depending on ______.

• market demand and competitor pricing

• manufacturing costs and location

• marketing campaigns and customer feedback

• wholesaler discounts and retail markup

Gregorio’s company manufactures computer chips. Gregorio has signed with a local technology store to give free technology demos, during which he will use devices that include his computer chips. This is an example of which of the following marketing elements?

• distribution

• promotion

• product

• place

Stanley owns a bicycle shop. The handles of the bicycles he designs and builds have slip-on covers that allow for bikes to be customized. The bikes demonstrate what element in the marketing mix?

• promotion

• service

• distribution

• product

Josiah is starting a sole proprietorship in which he will install home stereo systems. Josiah decides to test a paid Google ad so that the name of his company will gain recognition. This is an example of what marketing mix element?

• product

• promotion

• place

• distribution

Stephen has opened a BBQ restaurant that he hopes will be seen as a sports bar. Which of the following best describes an example of a need for positioning?

• Stephen receives a complaint from a customer about the lack of heat in the BBQ sauce.

• Stephen notices several Facebook postings that describe his restaurant as “a good family restaurant” and “a perfect end to a day of shopping.”

• Stephen notices several Facebook postings that describe his restaurant as good but a bit pricey.

• Stephen notices that many calls are coming in asking for directions to his location.

The process of creating a name, term, design, symbol, or any other feature that identifies a product or service and differentiates it from others is known as ______.

A brand strategy can best be described by which of the following?

• the logo and labeling on the product or service

• the plan to market the product

• the plan to communicate the brand messages to the target audience

• the plan that organizes, controls, and legally protects the brand

When thinking about the 4 Ps of the marketing mix, an entrepreneur starting a small boutique shop attempts to answer the question “How will customers know my store exists?” Which of the 4 Ps is this associated with?

• price

• product

• place

• promotion

When marketers use the S.A.V.E. framework, there will likely be a greater focus on which of the following?

• solutions and providing information

• cost reduction

• a technology-oriented approach to marketing

• place, price, and promotion