An IMC strategy helps marketers create a unified personality for the product or brand by choosing the right elements from the promotional mix to send the message.

Market segmentation attempts to isolate traits that distinguish a certain group of consumers from the overall market.

Retail convergence results in blurring of distinctions between types of retailers and the merchandise mix they offer.

Firms can receive trademark protection only for the brand name and brand mark and not for the product features or packaging elements.

A dinner at an exclusive restaurant is a pure good.

The pricing strategies seldom influence consumer perceptions of a retailer.

Increased competition in the marketplace forces an innovative company to bring down the price of a product even lower than its eventual level under a nonsequential skimming procedure.

Penetration pricing is often used in a market in which a new product is likely to face strong competition when introduced.

Setting clear goals helps everyone involved in the marketing campaign to aim their efforts in the right direction.

A hotel purchases towels for use in its rooms. In this context, these towels will be considered business products.