The Marketing Mix - Product

The 4 components of the marketing mix are product, price, people, and place. True or false?

• False

• True

The four components of the marketing mix are

• price, product, place, purchasing

• product, place, purchasing, distribution

• product, promotion, people, price

• product, place, price, and promotion

What is a product?

• A good, service or combination of both

• A business

• A brand

• A good or service

Which of these is an example of a product?

• A hamburger

• An insurance consultation

• An e-book

• All of the above

Tailoring is an example of a

• Good

• Combination of good and service

• Service

Product differentiation means

• To add new features to an existing product

• To set a product apart from its competitors' products

• A promise of value

• Promotes the image of a brand

Products cannot be differentiated by

• Brand

• Features

• Geographic location

• Customer service

When a customer is loyal to a brand, they are more likely to

• Put in more effort to obtain the brand's products

• Pay more for the brand's products

• Repeatedly buy the brand's products

• All of the above

From a customer's perspective, branding is beneficial because it

• Builds customer loyalty

• Makes shopping more efficient

• Makes it easy to introduce new products

• Is a symbol that identifies a product

A good brand helps businesses

• Maintain product quality

• Introduce new products more easily

• Build customer loyalty

• Provide fast delivery

• Retain customers