Question

answer all the questions

Question 1:Marketing begins with a product, a good, service, or idea. Ture or False Question 2: Utility is the benefit of a product compared to its costs. C True or false Question 3: Inflation and interest rates are major factors affecting the economic environment. True or false Question 4: A coupon is a form of sales promotion. True or false Question 5: The type of competition based on buyers' perceptions of the benefits of products offered by particular companies is called arbitrage monopolistic competition forced competition C brand competition Question 6: Publicity is information about a company, a product, or an event transmitted by the general mass media to attract public attention. True or false Question7:Two major pricing objectives are pricing to maximize profits and trying to attract new buyers. True or false Question 8:Psychological pricing acknowledges that customers are always rational when making buying decisions. True or false Question 9: Sales promotions do not encourage new buyers to purchase the product. True or false Question 10: Sales promotions give purchasing incentives. Ture or false

Answer 1

Answers

1. True

Marketing is inherent in every step of management and it starts at the initial stages to make the reach wider.

2. True

In economics utility is the satisfaction level of the consumer after consuming the product compared with the cost. Every individual measures the level of satisfaction according to the money paid.

3. False

Apart from inflation and interest rates, GDP, per capita income, unemployment rate are main factors which affect the economic environment.

4. True

Coupons are the promotional tool which are used to be redeemed to avail financial benefits.

5. Brand competition

Brand competition is the competition between the companies which offer the similar product. Therefore customer loyalty plays very important role for these companies. However products are similar but perception of customer towards companies varies.

6. True

Publicity means spreading awareness about the product, company and services to attract customers and investors.

7. False

Apart from these two objectives there are various major objevtives like increasing sales volume, retaining old customers and just to survive in the market. These objectives differs company to company and require different pricing strategy.

8. False

Psychological pricing tries to manipulate the customer's mind by making offerings attractive even if it is not. Customers who avail these offers do not behave in rational way. Therefore this is not for rational customers.

9. False

Sales promotion is the part of promotion mix and there are several more elements like advertising, direct marketing, personal selling etc. The motive of sales promotion is to attract new customers, profit maximization, retaining old customers etc.

10. True

In sales promotion customers are sometimes given rebate and discount to increase sales.