Chapter 11 and 12 review

_____ is the ability of goods and services to satisfy consumer wants.

Utility

Which of the following is a feature of the introduction stage of a product life cycle?

Nonexistent profits

Brody Dominic is a famous movie actor and the brand ambassador for his clothing company, Dominikent. Consumers tend to like the collection at Dominikent mainly because Dominic is a style icon himself. Which of the following marketing strategies does this scenario best illustrate?

People marketing

Which of the following is a feature of the growth stage of a product life cycle?

Rising sales

_____ demands that marketers actively contribute to the needs of the broader community.

Social responsibility

One of the benefits of licensing is:

instant name recognition

Dividing potential customers into groups of similar people is known as _____.

market segmentation

The _____ is a business philosophy that makes customer satisfaction—now and in the future—the central focus of the entire organization. Correct!

marketing concept

Monitoring and predicting consumer behavior is an objective of ____

marketing research

In the context of consumer product categories, most people perceive _____ as being so important that they are unwilling to accept substitutes.

specialty products

Which of the following is the first stage in the standard model of the new product development process?

Idea generation

_ is the ongoing process of acquiring, maintaining, and growing profitable customer associations by delivering unmatched value.

Customer relationship management

In the context of marketing research data, an example of primary data is _____.

A focus group

A fast-food restaurant serves the student community within a university campus. The restaurant newly introduces pocket-friendly combo meals in its menu. The meals become so popular that the rest of the items on the menu are rarely ordered. Which of the following is being exemplified in this scenario?

Cannibalization

_____ are brand-new ideas that radically change how people live.

Discontinuous innovations

___ is the process of continually collecting information from the external marketing surroundings.

Environmental scanning

Jackson runs a chain of small retail stores called Wandmin that sells bottled water, fresh juices, desserts, and some snacks. All outlets of Wandmin are either in the middle of or at the end of walking trails in Jackson's hilly hometown, where several tourists go hiking. In the context of marketing, which of following utilities does Wandmin most likely provide?

Place utility

_____ refers to dividing the market based on consumer attitudes, interests, values, and lifestyles.

Psychographic segmentation

Which of the following utilities satisfies wants by providing goods and services at a convenient period for customers?

Time utility

The physical good or delivered service that provides a core benefit is called the _____.

actual product

In the context of market segmentation, a well-chosen target market should have _____.

an appropriate size

Plezion Movie Palace, a film theater in Germany, gives all its customers miniatures of the main character of the latest superhero film that is being exhibited. The miniature props given by Plezion Movie Palace to its customers are examples of _____.

augmented products

The _____ stage of the new product development process entails introducing the product to the general market.

commercialization

A slight modification of an existing product is called a _____.

continuous innovation

Glinda goes to the supermarket for her monthly grocery shopping. As she waits in the line at the cash register, she sees her favorite kiwi-flavored candies on a stand and puts some into her shopping cart. In the context of product classifications, the candies purchased by Glinda are _____.

convenience products

The goal of the _____ of a product is to deliver the product to the right people, in the right quantities, at the right time, in the right place.

distribution strategy

In the context of the marketing mix, the _____ of a product includes all of the ways that marketers communicate about the product.

promotion strategy

Austere Realty, a real estate company, ensures that its web page always shows up high among the list of results whenever a user looks for information related to property and housing on the Internet. In this scenario, Austere Realty is actively engaged in _____.

search engine optimization

Neone is an energy drink manufacturer. The marketing strategies of Neone are focused on males who are in the age group of 16 to 25 years and who enjoy sports and other outdoor activities. The company advertises its products at skateboard parks, basketball venues, and ski resorts. The customer group that Neone focuses on is called its _____.

target market

Most car dealers allow test-driving of the cars they sell to increase the _____ of their product.

trialability