Question

1- It is MOST accurate to say that the recession of 4-5 years ago resulted in which of the following?

- an overselling of private goods

- a widespread disbelief in the possibility of achieving the American dream

- a decline in conspicuous spending

- an increase in materialism

2-

The intangibility of the service means that:

- advertising or other forms of promotion are of little importance to the services marketer.

- unused capacity cannot be shifted from one time period to another.

- brandnames or trademarks can’t be used because they must refer to tangible goods in order to be effective.

- the value of a service may be based on a customer’s experience.

According to the concept of the product life cycle,:

- new products may pass through a life cycle stage quickly, virtually skipping it.

- products spend a predetermined amount of time in each stage of the life cycle; this time span is determined

by the product category.

- most products require the same level of marketing throughout their life cycle.

- all products begin at the introductory stage and move through the life cycles stages at a steady rate

Retail assortments are looking more and more alike because:

- customers today are more focused on service differentiation

- national-brand manufacturers have placed their products almost everywhere

- market segmentation has proven ineffective

- stores are clustered together to increase their customer pulling power

Answer 1

1.Its most accurate to say that the recession of 4-5 years ago resulted in which of the following?

a decline in conspicuous spending.

(Conspicuous spending is consumption of goods or services to show status or a display of wealth,however the recession resulted in a decline in people spending lavishly for the sake of status.)

2.The intangibility of the service means that

advertising or other forms of promotion are of little importance to the services marketer.

(Marketing an intangible service is a difficult task and often advertising or other forms of promotion have very little importance,as the service cannot be seen it can only be felt by experience.)

3.According to the concept of the product life cycle

new products may pass through a life cycle stage quickly,virtually skipping it.

(According to the concept of the product life cycle,not all products go through all the stages of the product life cycle,some new products pass through each stage very quickly,and even skip stages and die quickly.)

4.Retail assortments are looking more and more alike because

national brand manufacturers have placed their products almost everywhere.

(The national brand manufacturers of products have made efforts to place their products throughout the market,as a result the retail assortments are quiet similar.)