Exercise 1

Below is a list of terms that you will find in the text. As you read «The Four P's,» see if you understand each term. Use this as a working list and add other terms with which you are unfamiliar:

NOUNS	VERBS	ASJECTIVES	OTHERS
marketing objective element the four P's option competitor price leader channel of distribution wholesaler retailer promotion ___________ ___________	satisfy achieve insure charge price take place ___________ ___________	complex vital personal __________ __________	popularly ___________ ___________

Exercise 2

Circle the letters of the answers that best complete the sen­tences below:

1. The four main elements of marketing are popularly known as:

1. the movement of goods and services

2. the four P's

3. the four M's

4. buying, selling, market research, and storage

2. The product element refers to:

   1. the four P's

   2. testing of a product to insure quality

3. the good or service that a company wants to sell

4. getting the product to the customer

3. Most companies price:

1. with the market

2. below the market

3. beyond the market

4. above the market

4. A common channel of distribution is:

1. wholesaler -> retailer -> manufacturer -> customer

2. manufacturer -> retailer -> wholesaler -> customer

3. retailer -> manufacturer -> wholesaler ->customer

4. manufacturer -> wholesaler -> retailer -> customer

5. The two major forms of promotion are:

1. radio and television

2. personal selling and advertising

3. personal selling and newspapers

4. selling advertisements

Exercise 3

Various problems that might occur in the marketing process are listed below. Determine to which of the four P's each problem is most closely related. Mark the appropriate category of product, price, placement, or promotion with an X.

Product Price Placement Promotion

1. The advertising gives

false information. _____ ____ _____ _____

Product Price Placement Promotion

2. The product is

dangerous. _____ ____ _____ _____

3. The product is not

available in enough

stores. _____ ____ _____ _____

4. The product is too

expensive. _____ ____ _____ _____

5. A salesclerk is rude

to customers. _____ ____ _____ _____

6. The product is sold

during the wrong season. _____ ____ _____ _____

7. The product is of poor

quality. _____ ____ _____ _____

8. The advertising is

offensive. _____ ____ _____ _____

8. The price of a product

increases faster than the

rate of inflation. _____ ____ _____ _____

8. The product is not

available in your favorite

stores. _____ ____ _____ _____

Additional problems:

_____________________________________ _____ _____ _____

_____________________________________ _____ _____ _____

_____________________________________ _____ _____ _____

_____________________________________ _____ _____ _____