a The 8 Ps were developed over time to support a wider range of industries. Which of the 8 Ps are most useful to companies that produce services rather than sell products? I Product, price, place, and promotion People, physical evidence, process, and partnerships Partnerships, price, promotion, and process The 8 P5 are equally valuable to services and products Customer loyalty manifests itself in two dimensions: behavioral and attitudinal. Which of the following would be a marketing strategy targeted to increase a consumer's attitudinal loyalty? I Promising that our products will be made with 80% recycled materials by 2030 Lowering the rate ofa monthly subscription to below that of the company's main competitor Offering free airline miles for every trip made with a specic air carrier Offering a free drink upgrade for the fth meal purchased in a month There are several pricing strategies companies can employ to attract customers. Which pricing strategy would work best for a startup selling indie music experiences and high-end I merchandise? Honoring a competitors price Decreasing the products' prices to increase sales , Offering negligible discounts to give the illusion ofa bargain increasing the products' prices to give a higher perceived value Place is an important aspect of the marketing mix. If you were choosing a location for your T-shirt company with the goal of increased sales volume, where would you choose to place it, and I what elements would inform your choice? Near a fancy restaurant because hunger motivates splurge purchases 0n the outskirts oftown because the land is cheaper there and you could pass your savings on to your customers Within an exclusive club because novelty is a good motivator for purchase In a lifestyle shopping center because the presence of other stores could increase the traffic to your store a What is true about proximity marketing? I Proximity marketing gamies the shopping experience and appeals to Generation Z. Proximity marketing only works in urban areas. Proximity marketing bridges the gap between a physical location and a virtual space and allows a company to increase its inuence on the consumerl Proximity marketing is one of the 4 P5 in the marketing mix that caters specically to services. a There are many ways that companies can promote a product or a service. Which method of promotion places the most control in the hands of the users? I Press conferences A company hashtag 7 Promo codes Sponsored social media posts The textbook uses the Walt Disney Company as an example for the last 4 Ps. Internally, Disney employees are called cast members. How might this distinction (cast member vs. employee) I help reinforce Disney's commitment to people? The word cast helps emphasize customer relationship management and reinforce the need for Disney employees to serve customers as a whole. Q The word cast is often associated with movies, so referring to Disney employees as cast members emphasizes the film and entertainment branch of the company. 7 The word cast does not make a difference in Disney employees' actions toward or perspective of the consumeri The word cast helps the employees feel like part of something greater and emphasizes each employee's part in contributing to individual customers' experiences a Partnerships is the last of the 8 Ps. Based on what you know about the Walt Disney Company and successful partnerships, which of the following companies would make the best I merchandising partner for Disney and why? Crayola because they share an emphasis on creativity, imagination, and families Malboro cigarettes because Walt Disney was a heavy smoker The Red Cross because Walt Disney worked as an ambulance driver in World War I NASA because they share the common goals of ingenuity and exploration u The 8 Ps of the marketing mix help brands create products and experiences that consumers will value. Which components of the marketing mix have the most signicant effect on the I unique value proposition? Product and place , Promotion and partnerships Process and people Price and physical evidence m There are several necessary components to a strong UVP. You've decided to host a focus group of beta users of your product before the product's release date. What question will this focus I group help answer? What are the needs of this customer segment? What makes your brand different? Who does the brand serve? What is your big promise? It is important to speak your audience's language on your frequently asked questions (FAQ) page and throughout your website. Which of the following best explains why this might be? I Many customers will become familiar with technical language through using your product. However, because there will inevitably be rst-time users on your site, it is important to include plain language. 7 Customers are unlikely to know the technical terms for their specic problems, and answers in plain language are likely to serve them better. Customers will not care one way or the other, but using plain language will increase the search engine optimization ofyour website. Customers are unlikely to know the technical terms for their specic problems but will like to learn them, so it's important to include both plain and technical language on your site. a How might using a template create a more powerful UVP? I 7 The UVP template helps you incorporate some of the 8 P5 of the marketing mix clearly and concisely to communicate with your audience. The UVP templates incorporate every aspect ofthe 8 Ps marketing mix, so the consumers will know exactly how the product ts their needs. The UVP you make with a template will be easily comparable to the UVPs of other companies because most companies use the same templates. 7 The UVP templates make the UVP easier to create but not necessarily more powerful. a What is the main difference between Blank's template and Moore's template? I 7 Blank's incorporates a framework. Moore's is unnecessarily complex. Q Blank's is too simple. 7 Moore's communicates more of the 8 Ps. a What is true of the UVP templates presented in the text? I They are the only templates used by the world's top organizations. 7 They can be used togetherto communicate more specically how a product meets the customers need They were developed individually to address the different needs of a range of companies and are not interchangeable. They are simple formats that are made to be built on since the best UVPs are long and detailed. 3 Which of the following is the best way to increase customer loyalty? I Trapping the customer in a subscription through the ne print in a contract Creating mutual, caring relationships with consumers 7 Offering free shipping on purchases over a certain dollar amount Having sales on a predictable, steady schedule Submit Assessment