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1. A “product” is the general term used to describe both goods and services.
a. True
b. False
2. All marketing managers have the same goal: to understand and please their customers.
a. True
b. False
3. We learn of and discuss product, price, place, and promotion separately because there are many details to
consider for each element.
a. True
b. False
4. The execution of the 4Ps is flexible—only one piece needs to be in place and sending a consistent message
for the overall "product" to be attractive to the customer.
a. True
b. False
5. When drivers purchase cars that are highly rated for their safety, the essential product is safety and the
modifier is the actual car.
a. True
b. False
6. The word "product" can only be defined as a general term that includes services and goods.
a. True
b. False
7. The word product can be defined as a mathematical term for multiplication.
a. True
b. False
8. Marketing is an exchange: the company offers something (e.g., a flight), and the customer offers something
in return (e.g., a payment).
a. True
b. False
9. Some customers will seek value and low prices, while others seek top quality.
a. True
b. False
10. Ideally, a company will have a clear differentiation strategy, because commodity products cannot be
sustained as a competitive advantage.
a. True
b. False
11. Marketers have long realized the benefits of morphing long-term purchase-transaction exchanges into short-
term relationship marketing.
a. True
b. False
12. Some marketers think there is a big difference between marketing for goods and services, and other
marketers think that it’s the same whether you’re marketing sandwiches or hotels.
a. True
b. False
13. Goods and services are totally distinct from each other.
a. True
b. False
14. An example of “experience marketing” is a professional sporting event.
a. True
b. False
15. Search qualities are the attributes that are evaluated before purchase, while the customer learns about
competitive offerings.
a. True
b. False
16. Experience attributes are those that are difficult to judge even post-consumption.
a. True
b. False
17. Hoping that your new suit impressed everyone is an example of a credence quality.
a. True
b. False
18. Experience attributes are those that require some trial or consumption before evaluation.
a. True
b. False
19. Credence qualities are those that are difficult to judge, even post-consumption.
a. True
b. False
20. Goods are dominated by credence and experience qualities, and services are mostly comprised of experience
and search qualities.
a. True
b. False
21. In a service-oriented business such as a bowling alley, services are simultaneously produced and consumed.
a. True
b. False
22. The inseparability of service production and consumption inevitably results in less perishable services.
a. True
b. False
23. The interaction between the crowd and the actors during a Broadway show is due to the inseparability
between service provider and customer.
a. True
b. False
24. Services are said to be less variable than products.
a. True
b. False
25. The service marketing exchange happens between a customer and a service provider representing the
company.
a. True
b. False
26. Good variability involves the customization and tailoring of the service delivery for the customer’s unique
needs.
a. True
b. False
27. Many purchases have elements of both goods and services.
a. True
b. False
28. Companies can be myopic when they define their core business, focusing on their product offerings instead
of recognizing that their true goal is offering benefits and value to their customers.
a. True
b. False
29. The central element of what is purchased is called the “core,” and anything bought on top of that is called
the “value-addeds.”
a. True
b. False
30. A marketer can affect a customer’s level of satisfaction (or dissatisfaction) through good (or bad) value-
addeds.
a. True
b. False
31. As chief marketing officer (CMO), Frank has seen the core competencies of his company change over the
past five years. During this time, the core business of the company should not have shifted as the firm’s
competencies changed.
a. True
b. False
32. For sports, the core service is the game itself, and the value-addeds are the experience the consumer has.
a. True
b. False
33. The definition of a company’s core business is like asking for its mission statement.
a. True
b. False
34. It’s important that brand managers focus on defining competition narrowly, as when we compute market
shares.
a. True
b. False
35. Product lines can be pruned or supplemented depending on market opportunities; however, the overall
marketing mix should not be altered as this will confuse loyal customers.
a. True
b. False
36. Product-related issues are more complicated when our scope includes the company’s full portfolio.
a. True
b. False
37. Supervising product line manager's responsibilities are to focus, and brand managers' responsibilities are to
oversee entire portfolios.
a. True
b. False
38. If a company recognizes an opportunity for producing something that customers will value, it should
supplement its product line, especially if it can make the new products better than competitors.
a. True
b. False
39. A brand is an investment.
a. True
b. False
40. Company A offers a line of products to a single segment. Company B offers multiple products to multiple
segments. Company B will most likely outperform company A.
a. True
b. False
41. A __________ is the general term used to describe both goods and services.
a. price
b. product
c. promotion
d. place
42. For someone buying a Volvo, the essential product is __________, and the modifier is __________.
a. a car, safety
b. transportation, a car
c. a car, an innovative design
d. a high-end vehicle, transportation
43. Marianne is shopping for a new car. Which of the 4Ps is most central to her purchase?
a. price
b. promotion
c. place
d. product
44. Orbitz, a travel-planning company, offers low-price tickets on flights because
a. it is in competition with airlines.
b. this is something that benefits customers.
c. it accepts a low margin.
d. its business model is based on promotions.
45. Which of the following is a question that arises during the marketing exchange?
a. What is it that customers want?
b. Should the product be made in house or outsourced?
c. When should we sell our stock?
d. Should we acquire our competitor?
46. Marketers have long realized the benefits of morphing __________ purchase-transaction exchanges into
long-term relationship marketing.
a. short-term
b. high-quality
c. customer
d. product
47. Marketer 1 is marketing soft pretzels. Marketer 2 is marketing for a local amusement park. Why might their
strategies differ?
a. They don’t, their strategies would be the same.
b. Marketer 1 has a tangible product, white marketer 2 has an intangible product.
c. Marketer 1 would focus more on price than marketer 2.
d. Marketer 2 would focus more on promotion than marketer 1.
48. An example of a tangible purchase is
a. consulting advice.
b. the symphony.
c. financial services.
d. clothing.
49. Which of the following is an example of “experience marketing”?
a. Starbucks
b. Cirque du Soleil
c. financial services
d. clothing
50. Which of the following are pure goods?
a. rock concerts
b. DVDs
c. sporting events
d. consulting
