1. Which of the following are true statements with regard to airline product marketing? a. The product can only be produced in batches. b. Delivery of the product cannot be guaranteed. c. A bad product cannot be replaced. d. Both B and C. e. All of the above. 2. Market segmentation is the strategy of dividing potential customers into groups or market segments and includes which of the following steps? a. Relating market segments to services that could be bought. b. Using relevant characteristics to divide the market into smaller consumer segments. c. Providing uniques services to differentiate the product to attract new customers. d. Both A and B. e. Both B and C. 3. Price has been the major competitive variable in the airline marketing mix since deregulation and involves two factors: a. food and beverage. b. supply and demand. c. advertising and promotion. 4 (True/False) It's better to have no social media presence than to have one that's utilized from time to time. 5. In which of the following decades did passenger air fairs not decline? a. 1960s. b. 1970s. c. 1980s. 6. Which term is used by economist to describe the level of demand for products and services? a. Elasticity. b. Durability. c. Price. 7. Define Dependent and Independent variables, and briefly describe the forecasting process and how the variables interact with each other