Marketing True/False

true
good are tangible while experiences are intangible
false
customers within the same market segment possess different needs and characteristics.
false
marketing is primarily concerned with engaging customers and secondarily with managing profitable customer relationships
true
niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be overlooked by larger companies
false
when a company selects the parts of the market it can serve best and most profitably, it is practicing marketing segmentation
false
Jeff’s Bikes has developed a new design for bicycles that their staff believes will offer the most in terms of quality, performance, and innovative features. Jeff’s Bikes is practicing the production concept here.
true
service perishability means that services cannot be stored for later sale of use.
true
product costs set a floor for a product’s price
false
a line extensions involves the use of a successful brand name to launch new or modified products in a new category
false
multibranding occurs when two established brand names of different companies are used on the same product
true
the maturity stage of the product life cycle is characterized by a slowdown in sales growth
true
when a company charges different prices for the same product sold at different locations, they are adopting a geographical pricing strategy
true
product modifications are an important source of new products for organizations
true
overuse of promotional pricing can erode a brand’s value in the eyes of customers
false
a product in the maturity stage is more likely to require informative advertising
true
a disadvantage of using social media for marketing is that they are largely user controlled
false
when a coffee shop and a gym join forces to follow a new marketing opportunity, they are forming a vertical marketing system
false
a firm that sends e-mail updates to customers about new products is engaging in sales promotion
false
in the promotion mix, personal selling performs the functions of building a good rapport with entities outside the company, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events
true
from a producer’s point of view a greater number of levels in a supply chain means less control and greater channel complexity
false
mobile marketing is an unsuitable tool for triggering an immediate purchase from a consumer
false
in the context of execution styles in advertising, using an animated character that represents a product in an advertisement is an example of an endorsement