1. The primary pricing strategy(ies) employed by Firms during the introductory stage of the PLC is (are):

a. Penetration pricing

b. Price discounting

c. Marginal pricing

d. Mark-up pricing

e. All of the above

2. A 24V battery-powered hand drill made by Black & Decker that is sold to a small manufacturer is best classified as:

a. Accessory equipment

b. A manufactured or component part

c. An installation

d. Operating supply

e. A service

3. Which of the following forms of promotion is most closely linked with the ability to solidify brand image for the Firm’s services?

a. Advertising

b. Sales promotion

c. Public relations

e. Personal selling

f. Publicity

4. One of the most important technological advances in services delivery is:

a. The internet and apps that allow Firms to directly interface with customers

b. Databases containing extensive information that can be “mined” to better understand customers’ services needs

c. Sophisticated statistical programs that can search for clusters of potential customers in geographic markets

d. Extensive and rapid supply chains that ensure service providers have better tools and materials to improve the quality of services delivery.

e. All of a, b, c above