Question 1

Promotion includes product placement.

Accepted Answer

Product placement is a common form of promotion where a brand or product is featured in movies, TV shows, or other media to increase its visibility and awareness among consumers.

Question 2

Product includes range.

Accepted Answer

A product range includes multiple products within the same category or family of goods.

Question 3

The four key marketing mix variables were introduced and further developed during an era of slowed manufacturing.

Accepted Answer

The answer of The four key marketing mix variables were...

Question 4

Price includes payment periods.

Accepted Answer

Price includes payment periods means that the price is calculated over a certain period of time and includes all payments within that period.

Question 5

The marketing mix is often referred to as the 'controllable factors'.

Accepted Answer

The marketing mix consists of controllable factors which can be manipulated by a company to influence customer behavior and achieve their marketing objectives.

Question 6

The boundaries between marketing tangible goods and intangible services are obscured when companies focus on building long-lasting relationships with their customers.

Accepted Answer

Building long-lasting relationships with customers requires a focus on both tangible and intangible aspects of the customer experience, rather than solely selling products or services. This can blur the traditional boundaries between marketing tangible goods and intangible services.

Question 7

Product includes quality.

Accepted Answer

Quality is an integral part of the product, which determines its effectiveness, efficiency, safety, and reliability. A high-quality product is more likely to exceed customer expectations and generate higher customer satisfaction and loyalty.

Question 8

Place includes distribution.

Accepted Answer

Place in the marketing mix refers to the distribution channels through which a product or service is delivered to the customer. Therefore, place includes distribution.

Question 9

Product includes guarantees.

Accepted Answer

Many products come with guarantees, which provide consumers with reassurance that the product will work as advertised and can be replaced or repaired if it does not meet expectations.

Question 10

Use the following to answer questions 
Peters Ice-Cream is producing a new line of icy poles.They are going to be made from 100 per cent fruit juice, sold only in school canteens, wrapped in environmentally friendly packaging and retail for $1.As part of the initial launch, Peters is offering schools a free computer when they agree to sell the icy poles in their school canteen.The canteen staff will receive training about the nutritional value of the icy poles so they can tell this to the children.
-Peters' decision to distribute only in schools has to do with which element of the marketing mix?

Accepted Answer

Peters' decision to distribute their new line of icy poles only in school canteens is related to the element of the marketing mix known as "place." Place refers to the channels or outlets used to distribute a product or service, and in this case, Peters has chosen to exclusively distribute their icy poles in school canteens.

Question 11

Companies need to be more flexible and develop strategies to deal with a dynamic business environment, especially now that there is a growing trend towards simple services rather than experiences.

Accepted Answer

The trend is actually towards experiences rather than simple services, as consumers increasingly value unique and memorable experiences over basic services.

Question 12

The eight expanded marketing mix variables can be used to create psychologically pleasing

Accepted Answer

The expanded marketing mix variables, which include people, process, physical evidence, and productivity and quality, can be used to create a psychological impact on consumers, making them more likely to engage with and purchase from a brand or business.

Question 13

The marketing mix concept (product, place, price and promotion) was introduced by McCarthy in 1984.

Accepted Answer

The marketing mix concept was introduced by Neil Borden in 1964, not McCarthy in 1984. McCarthy developed and expanded upon Borden's original ideas in his book "Basic Marketing: A Managerial Approach" in 1960.

Question 14

Price includes price elasticity.

Accepted Answer

Price elasticity is a measure of how sensitive the quantity demanded of a good or service is to changes in its price. Therefore, price and price elasticity are closely related and included in the same concept of pricing.

Question 15

The key marketing mix ingredients of product, place, price and promotions reigned without great challenge until the late 1990s.

Accepted Answer

The answer of The key marketing mix ingredients of product,...

Question 16

Place includes transport to the location.

Accepted Answer

Place includes transport to the location, as it refers to the location itself and all necessary means to reach it.

Question 17

Place includes convenience.

Accepted Answer

Place can refer to a physical location where goods or services are available, making it convenient for consumers to access them.

Question 18

Product does not include service.

Accepted Answer

The answer of Product does not include service....

Question 19

Product includes benefits.

Accepted Answer

A product includes benefits, which are the advantages or values provided to the customer by using the product.

Question 20

All the marketing mix variables can be used to achieve a competitive advantage.

Accepted Answer

All elements of the marketing mix (product, place, price, and promotion) can be strategically used to create a competitive advantage for a business. By tailoring each variable to meet customer needs, a business can differentiate itself from competitors and attract and retain customers.

Quiz 13: People, Physical Evidence, Processes and Partnerships