Marketing MCQ Questions and Solutions with Explanations | Management

The four unique elements to services include Intangibility, inconsistency, inseparability and inventory. Intangibility refers to the tendency of services to be a performance that cannot be held or touched, rather than an object. Inconsistency is a characteristic of services because they depend on people to deliver them, and people vary in their capabilities and in their day-to-day performance. Inseparability refers to the difficulty of separating the deliverer of the service (hair stylist) from the service itself (hair salon). Inventory refers to the need to have service production capability when there is service demand.

A change in an individual's behavior prompted by information and experience refers to Learning. Learning is the process of acquiring new, or modifying existing, knowledge, behaviors, skills, values, or preferences.

While buying milk Routinized buying behavior kind of behavior is displayed by a person. Buying Behavior is the decision processes and acts of people involved in buying and using products.

Whether to sell via intermediaries or directly to consumers, how many outlets to sell through, and whether to control or cooperate with other channel members are examples of decisions marketers must make about Distribution. Distribution means the process by which we make the goods or the service available to the end consumer. Generally, the place of production is not the same as the place of consumption. So the goods have to be distributed to overcome the barrier of place.

The extended Ps of service marketing mix is Physical Evidence, Process, People. The physical evidence within the service marketing mix refers to an environment in which a service comes about from an interaction between an employee and a customer which is combined with a tangible commodity. The element ‘Process’ of the service marketing mix represents the activities, procedures, protocols and more by which the service in question is eventually delivered to the customer. As services are results of actions for or with customers, a process involves a sequence of steps and activities to get there. In Booms and Bitner’s service marketing mix, ‘people’ include people who are directly or indirectly involved in the trade of the product or service. These are mainly customer contact employees (contact centre employees, representatives, account managers, etc.), customers, personnel and management.

A social and managerial process by which individuals and organizations obtain what they need and want through value creation refers to Marketing. “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.”

Intangibility is the basic property of a service which makes it different from a product. Products have tangible qualities that provide information to consumers so they can easily compare one product to another. Services, on the other hand, are intangible. Most services cannot be experienced or consumed until the purchase is made.

This is what I want, won’t you please make it phrases reflects the marketing concept.

The solution to price competition is to develop a differentiated Offer, delivery, and image. Price competition is one of many ways that a product or service can compete in the marketplace. In price competition, two products which are substantially similar are judged by prospective consumers on their respective pricing, with the purchase made mostly on the basis of which is cheaper.

If we purchase cleaning supplies for our custodial help regularly. It is showing Straight rebuy situation. A straight rebuy is the purchasing or reordering of supplies on a routine basis from a supplier who is on an approved list.