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MGT103 FINAL EXAM QUESTIONS AND ANSWERS 100% PASS
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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) - Br...

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  • January 8, 2025
  • 36
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mgt103 final exam questions and answers 100 pass

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  • MGT 103
  • MGT 103

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EmilyCharlene

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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


B) Penetration Pricing


C) Prestige Pricing


D) Price Lining - ✔✔Skimming Pricing




Author. Barrett, ©2025 All Rights Reserved.

,2|Page


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 - ✔✔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.


Author. Barrett, ©2025 All Rights Reserved.

,3|Page


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.


True


False - ✔✔False


In the growth phase of the product life cycle, sales increase rapidly and profits start to rise significantly.


In the __________ stage of the product life cycle, the product gets old or gets replaced. - ✔✔decline


Which of the following is NOT typically measured on a marketing dashboard?


A) Sales per week


B) Customer retention


C) Employee satisfaction


D) Brand awareness - ✔✔Employee satisfaction


Marketing dashboards can include metrics such as sales per week and customer retention.




Author. Barrett, ©2025 All Rights Reserved.

, 4|Page


True


False - ✔✔True


Gatorade is known for its continuous product development and official drink branding with which of the

following sports leagues?


A) NBA


B) NFL


C) MLB


D) All of the above - ✔✔D


Which stage of the product life cycle is characterized by rapid sales growth and increasing competition?


A) Introduction


B) Growth


C) Maturity


D) Decline - ✔✔Growth


During the maturity stage of the product life cycle, industry/product sales slow and profit declines.


True


False - ✔✔True


Which pricing strategy is used to help recover the costs of development and capitalize on price

insensitivity of early buyers?


A) Skimming strategy


B) Penetration pricing




Author. Barrett, ©2025 All Rights Reserved.

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