MKT 435 Wk 4 - Practice: Assignment

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MKT 435 Wk 4 - Practice: Assignment

1. The 8 Ps were developed over time to support a wider range of industries. Which of the 8 Ps are most useful to companies that produce services rather than sell products?

• Product, price, place, and promotion
• People, physical evidence, process, and partnerships
• Partnerships, price, promotion, and process
• The 8 Ps are equally valuable to services and products

2. Customer loyalty manifests itself in two dimensions: behavioral and attitudinal. Which of the following would be a marketing strategy targeted to increase a consumer’s attitudinal loyalty?

• Offering a free drink upgrade for the fifth meal purchased in a month
• Lowering the rate of a monthly subscription to below that of the company’s main competitor
• Offering free airline miles for every trip made with a specific air carrier
• Promising that our products will be made with 80% recycled materials by 2030

3. There are several pricing strategies companies can employ to attract customers. Which pricing strategy would work best for a startup selling indie music experiences and high-end merchandise?

• Decreasing the products’ prices to increase sales
• Offering negligible discounts to give the illusion of a bargain
• Increasing the products’ prices to give a higher perceived value
• Honoring a competitor’s price

4. Place is an important aspect of the marketing mix. If you were choosing a location for your T-shirt company with the goal of increased sales volume, where would you choose to place it, and what elements would inform your choice?

• In a lifestyle shopping center because the presence of other stores could increase the traffic to your store
• On the outskirts of town because the land is cheaper there and you could pass your savings on to your customers
• Within an exclusive club because novelty is a good motivator for purchase
• Near a fancy restaurant because hunger motivates splurge purchases

5. What is true about proximity marketing?

• Proximity marketing bridges the gap between a physical location and a virtual space and allows a company to increase its influence on the consumer.
• Proximity marketing only works in urban areas.
• Proximity marketing gamifies the shopping experience and appeals to Generation Z.
• Proximity marketing is one of the 4 Ps in the marketing mix that caters specifically to services.