Question

product/service management
mark the following statements about product/service management true or false.
true false
product/service management is one of the of the marketing mix.
product/service management involves developing new products, creating sales promotion schedules, and managing product price.
a good is tangible; examples include shoes, notebooks, and water bottles.
a service is an intangible activity performed by someone in exchange for payment. examples include getting a haircut or manicure.

Explanation:

To solve this, we analyze each statement about product/service management:

1. “Product/service management is one of the... of the marketing mix.”

The marketing mix (4Ps/7Ps) includes product/service management as a core element. So this is True.

2. “Product/service management involves developing new products, creating sales promotion schedules, and managing product price.”

Product/service management focuses on product development, design, and lifecycle—but sales promotion (promotion mix) and price management (pricing strategy) are separate marketing functions (not part of product/service management). So this is False.

3. “A good is tangible; examples include shoes, notebooks, and water bottles.”

By definition, a “good” is a tangible, physical item (unlike a service). The examples are physical products. So this is True.

4. “A service is an intangible activity performed by someone in exchange for payment. Examples include getting a haircut or manicure.”

A service is intangible (no physical form) and involves labor/skill for payment. Haircuts/manicures are classic service examples. So this is True.

Final Answers (True/False for each statement):

1. True
2. False
3. True
4. True

(Note: For the second statement, the initial selection in the image is incorrect; the correct answer is False.)

Answer:

To solve this, we analyze each statement about product/service management:

1. “Product/service management is one of the... of the marketing mix.”

The marketing mix (4Ps/7Ps) includes product/service management as a core element. So this is True.

2. “Product/service management involves developing new products, creating sales promotion schedules, and managing product price.”

Product/service management focuses on product development, design, and lifecycle—but sales promotion (promotion mix) and price management (pricing strategy) are separate marketing functions (not part of product/service management). So this is False.

3. “A good is tangible; examples include shoes, notebooks, and water bottles.”

By definition, a “good” is a tangible, physical item (unlike a service). The examples are physical products. So this is True.

4. “A service is an intangible activity performed by someone in exchange for payment. Examples include getting a haircut or manicure.”

A service is intangible (no physical form) and involves labor/skill for payment. Haircuts/manicures are classic service examples. So this is True.

Final Answers (True/False for each statement):

1. True
2. False
3. True
4. True

(Note: For the second statement, the initial selection in the image is incorrect; the correct answer is False.)