Marketing Management - Study Mode
[#491] The service marketing mix is an extended marketing mix and includes (i) People (ii) Process (iii) Service (iv) Physical evidence
Correct Answer
(C) (i), (ii) and (iv)
[#492] Markets located in the heart of the region specializing in few crops like banana, onions etc are called . . . . . . . .
Correct Answer
(B) Seasonal market
[#493] The research technique used particularly in retailing (online and offline) in which consumers are recruited by researchers to act as anonymous buyers in order to evaluate customer satisfaction, service quality, and customer's evaluation of their experiences, is known as
Correct Answer
(C) Mystery shopping
[#494] Pricing to cover variable costs and some fixed costs, as in the case of some automobile distributorships that sell below total costs, is typical of which of the following pricing objectives?
Correct Answer
(D) survival
[#495] Which of the following is not one of the general pricing approaches?
Correct Answer
(C) Relationship pricing
Explanation
Solution: In marketing, the general pricing approaches include: Competition-based , Cost-based , and Penetration pricing . Competition-based pricing involves setting prices based on what competitors are charging. Cost-based pricing is determined by adding a markup to the cost of producing a product. Penetration pricing is a strategy where a product is introduced at a low price to gain market share. Relationship pricing is not typically considered a general pricing approach, making Option C the correct answer.