T OR F

1. No single pricing formula will work for all businesses, nor is there a formula that will assure maximum profits in all situations.
2. Promotion is a form of persuasive communication, or getting others to do what you want them to do. Its function is that of informing consumers about a product or service and influencing them to buy that product or service.
3. Physical distribution starts with understanding consumer needs andfinding low-cost solutions to getting goods to consumers.
4. The aim of market segmentation is to identify groups of buyers based on similarities and then develop a marketing strategy based on thosesimilarities.
5. Distribution includes both physical movement of products and the establishment of intermediary relationships to guide and support themovement of products.
6. The three commonly used systems for establishing price structures are cost-based pricing, demand-based pricing, and competition-based pricing.
7. Perceived value is simply what customers think your product should cost, or more specifically, what value they think it has to them and what the,would be willing to pay for it.
8. The three main considerations in structuring a channel of distribution are cost, coverage, and control.