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mgt103 final exam Questions and Answers (100% Pass)
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mgt103 final exam Questions and Answers (100% Pass)
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1|Page | © copyright 2024/2025 | Grade A+mgt103 final exam Questions and
Answers (100% Pass)
What does value in pricing emphasize?
A) Features
B) Benefits
C) Costs
D) Discounts
✓ Benefits
Which of the following is NOT one of the Seven Ps of Services Marketing?
A) Product (Service)
B) Branding
C) Price
D) Place (Distribution)
✓ Branding
What pricing strategy involves setting a high price initially and then gradually
lowering it over time?
A) Skimming Pricing
Master01 | October, 2024/2025 | Latest update
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B) Penetration Pricing
C) Prestige Pricing
D) Price Lining
✓ Skimming Pricing
Which of the following is NOT a function performed by intermediaries in
marketing channels?
A) Transactional Function
B) Logistical Function
C) Facilitating Function
D) Distribution Function
✓ Distribution Function
Off-Peak Pricing is mentioned in one of the Seven Ps of Services Marketing.
True
False
Master01 | October, 2024/2025 | Latest update
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✓ True; falls under price
✓ off-peak pricing: charging different prices during different seasons of
the year and different times of the day or days of the week to reflect
variations in demand for service
Value-Pricing focuses on stressing features rather than benefits.
True
False
✓ False
✓ Value-pricing focuses on emphasizing the benefits rather than just the
features of a product or service. The idea is to highlight how the
product or service provides value to the customer, addressing their
needs and solving their problems, rather than just listing its features.
Intensive Distribution aims to provide the best coverage of the target market.
True
False
✓ True
The Planning Phase of the Strategic Marketing Process: An effective
marketing plan should have simple, clear, and specific plans.
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
True
False
✓ True
The concept that links internal service quality to customer satisfaction and
company profitability is known as the __________.
✓ Service-Profit Chain
One of the four approaches for selecting an approximate price level is
__________ pricing.
✓ demand-oriented
The Multichannel Marketing Multiplier involves the blending of different
__________ and delivery channels.
✓ communication
One of the five elements of the promotional mix is __________.
✓ advertising
In the growth phase of the product life cycle, profits peak.
Master01 | October, 2024/2025 | Latest update
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