MKT 100 Study Guide - Marketing Mix, Conspicuous Consumption, Demand Curve

The ratio of perceived benefits to price is called __________.

a) the price-quality relationship

b) prestige pricing

c) value-added pricing

d) customer value

e) value analysis

A marketing strategy consists of selecting a segment of the market as the company's target market and designing the proper:

a.products for that target market

b." mix" of product/service, price, promotion, and distribution for that market

c.promotion for that target market

d.mix of product, distribution, and warranty service for that target market

e.incentives to allow a large percentage of the target market to purchase goods and services from the company

Personal selling adds value in each of the following ways except by

 

a. educating customers and providing advice.

b. saving the customer time.

c. making things easier for customers.

d. building long-term strategic relationships with customers.

e. consistently lowering prices below competitors