Marketing 205 Test Chapters 6-9

How many categories of extensions are there? A. 2 B. 3 C. 4 D. 1

3

Brand loyalty is an example of a __________ marketing segmentation variable. A. Geographic B. Demographic C. Psychographic D. Behavioral

Behavioral

What do consumers actually buy? A. Core product B. Attributes C. Benefits D. Products

Benefits

How many critical points are there on the good-services continuum? A. 2 B. 0 C. 1 D. 3

3

How many groups are there in the diffusion of innovation? A. 6 B. 4 C. 3 D. 5

5

Two trends are shaping current marketing practice: experiential marketing and increased use of mass marketing. A. True B. False

False

Corey's firm had a good reputation for integrating social media into its marketing processes. To engage customers further and to build ways to interact positively with the brand, Corey and his programmers were building sophisticated puzzles and adventures online, and using which process? A. Crowdsourcing B. Online marketing research C. Gamification D. Purposeful fun

Gamification

A key variable to demographic segmentation is A. gender. B. usage rate. C. social class. D. brand loyalty.

Gender

During the _____ stage of the product life cycle companies concentrate on stimulating selective demand. A. Development B. Growth C. Maturity D. Decline

Growth

________ refers to the fact that the quality of a service can differ widely from consumption to consumption and from provider to provider. A. Intangibility B. Perishability C. Inseparability D. Variability

Variability

Psychographic segmentation is A. the process of separating customer groups based on lifestyle B. the process of separating customers based on what they do. C. the process of categorizing different groups of customers in a market, based on customer differences. D. the process of separating customer groups based on location.

the process of separating customer groups based on lifestyle

Geographic segmentation is A. the process of separating customers based on what they do. B. the process of separating customer groups based on lifestyle. C. the process of categorizing different groups of customers in a market, based on customer differences. D. the process of separating customer groups based on location.

the process of separating customer groups based on location.

How many stage are in the product life cycle? A. 6 B. 5 C. 8 D. 7

5

Generally speaking, how many steps are there in the segmentation process? A. 7 B. 6 C. 8 D. 5

6

Segmentation is a ____ step process. A. 4 B. 5 C. 6 D. 7

6

What is a product made up of? A. Core product B. Actual product C. Augmented product D. All choices are correct

All choices are correct

Which resources move through supply chains? A. Merchandise B. Information C. Discounts D. All of the resources mentioned move through supply chains.

All of the resources mentioned move through supply chains.

Which of the following statements about a perceptual map is not true? A. It is a graphical representation of customer perceptions. B. It can suggest product features that are important to customers. C. The information on a perceptual map often comes from market research. D. All of the statements are true.

All of the statements are true.

Which of the following is not a component of the positioning statement? A. Target customer B. Key benefit C. Competitive reference D. Business market

Business Market

___________ allow one branded product to feature another brand as a component part or ingredient. A. Co-brands B. Process of branding C. Partnership D. Brand Image

Co-brands

In which step in the new product development process would a company typically test market the new product? A. Commercialization B. Planning C. Conceptualization D. Innovation

Commercialization

Where does idea generation fall within the product development process? A. Planning B. Commercialization C. Conceptualization D. Concepts

Conceptualization

The three basic steps of the new product development process are: A. Conceptualization, Innovation, Commercialization B. Conceptualization, Planning, Commercialization C. Planning, Innovation, Conceptualization D. Commercialization, Planning, Promotion

Conceptualization, Planning, Commercialization

Participation and _______ are known as the fifth P and C in the marketing mix. A. Crowdsourcing B. Co-creation C. Connection D. Community

Connection

Retail operations, traditionally thought of as "place" in the marketing mix, are under increasing pressure from consumers to accommodate the consumers' busy lifestyles and lack of time to go shopping. While some customers still like the old ways of shopping, retailers need to think about shopping from the customers' perspectives, which falls under which of the 4 Cs approach to the marketing mix? A. Customer benefits B. Convenience C. Cost D. Communications

Convenience

In which sort of vertical marketing system does a manufacturer exert the most control? A. Integrated VMS B. Contractual VMS C. Corporate VMS D. Administered VMS

Corporate VMS

If a firm wanted to build enthusiasm for the launch of new product by getting input and advice from a large number of potential customers online, what process might they use? A. Crowdsourcing B. Mass design protocols C. Open sourcing D. Social media stimulation

Crowdsourcing

Using individuals or groups outside the organization to provide assistance, advice or input on a task is known as _________. A. Crowdsourcing B. Experiential marketing C. Gamification D. Niche marketing

Crowdsourcing

The 4 Ps framework is typically represented as a target with the ________ in the center. A. Company B. Customer C. Price D. Product

Customer

__________ segmentation is the most widely used category of segmentation variables and is typically the first approach companies use. A. Geographic B. Demographic C. Psychographic D. Behavioral

Demographic

Catalog sales use ______ supply chains. A. direct B. indirect C. traditional D. None of the choices are correct.

Direct

Which of the following statements about direct supply chains is not true? A. Direct supply chains always yield lower prices for consumers. B. Direct supply chains are growing in the age of internet marketing. C. Direct supply chains eliminate the need for a middleman. D. Direct supply chains are valuable to both consumers and sellers.

Direct supply chains always yield lower prices for consumers.

Which type of innovation provides large jumps in a product's benefit-delivering abilities? A. Discontinuous B. Continuous C. Variable D. Intangible

Discontinuous

_______ is a style of marketing that creates memorable interactions with brands that appeal to customers' senses. A. Crowdsourcing B. Experiential marketing C. Gamification D. Niche marketing

Experimental marketing

From the perspective of the marketer, the value exchange is considered Price in the 4 Ps, while from the customer's perspective using the 4 Cs, it is considered cash. A. True B. False

False

If a store advertises it has "wholesale prices," it cannot sell to the final consumers of a product. A. True B. False

False

The total set of companies, exchanges, and transactions that produce goods and make them physically and commercially available to consumers is the definition of "place" in the marketing mix. A. True B. False

False

Which task does NOT belong in the planning phase? A. Establishing a competitive advantage B. Business analysis C. Strategy development D. Idea screening

Idea screening

Raw material suppliers participate in the ______ supply chain. A. Traditional B. Reverse C. Direct to consumer D. Industrial

Industrial

The top of the supply chain is referred to as the _____ supply chain. A. Reverse B. Industrial C. Retail D. Indirect

Industrial

Which adopter category in the diffusion of innovation framework would typically have the smallest percentage of people? A. Innovators B. Early Adopters C. Late Majority D. Laggards

Innovators

Which adopter category in the diffusion of innovation framework would typically have the largest percentage of people? A. Innovators B. Early Adopters C. Late Majority D. Laggards

Late Majority

Which of the following is NOT a criterion needed for a market segmentation approach to be effective? A. Substantial B. Marketable C. Responsive D. Measurable

Marketable

____________ are very large retail stores that specialize in selling large volumes of merchandise at low prices. A. Discount stores B. Specialty stores C. Mass merchandisers D. Department store

Mass merchandisers

During which stage of the product life cycle does revenue typically hit its peak? A. Development B. Growth C. Maturity D. Decline

Maturity

What is the second step in the segmentation process? A. Select general variable category(ies) for segmentation B. Identify categories within each selected segmentation variable C. Narrow the market D. Develop a profile for each segment

Narrow the market

________ means that services are consumed as they are produced. A. Intangibility B. Perishability C. Inseparability D. Variability

Perishability

Which of the four Ps affects convenience? A. Product B. Place C. Price D. Promotion

Place

In which step in the new product development process would a company typically perform a business analysis? A. Commercialization B. Planning C. Conceptualization D. Innovation

Planning

How do you create a strong and profitable business enterprise? A. Creating innovation without a process B. Produce a need satisfying product C. Make a product that is relevant to a limited audience D. Using creativity to create a new product

Produce a need satisfying product

Which of the four Ps affects customer benefits? A. Product B. Place C. Price D. Promotion

Product

Which is a task you are likely to see in the commercialization phase? A. Concept development B. Strategy development C. Business development D. Product development

Product Development

Which of the four Ps affects communication? A. Product B. Place C. Price D. Promotion

Promotion

Lifestyle is an example of a __________ marketing segmentation variable. A. Geographic B. Demographic C. Psychographic D. Behavioral

Psychographic

________ benefits affect how customers respond emotionally to product purchases. A. Sensory B. Functional C. Resource D. Psychological

Psychological

__________ benefits provide or save customers things that they value, primarily time and money. A. Sensory B. Functional C. Resource D. Psychological

Resource

Merchandise flows from consumers to producers in _____ supply chains. A. Reverse B. Industrial C. Retail D. Wholesale

Reverse

Deborah was relatively new to her marketing position when she got into a serious discussion about customers with a colleague who had been in the marketing area for many years. This colleague argued that he had always kept the customer in mind when thinking about the product. He also argued that although branding and packaging decisions were important to the customer, the firm knew about options and issues far better than any customer. Deborah's more modern position was different because she looked at the product decisions from the perspective of A. the impact of new technologies. B. the benefits the customer gets from the product. C. the gap between the younger generation and the older generation. D. the changes in the media consumption habits.

The benefits the customer gets from the product.

Wholesalers participate in the ______retail supply chain. A. Traditional B. Retailer only C. Direct to consumer D. Industrial

Traditional

Any of 5 Ps can affect any of the 5 Cs, and decisions in one area can affect any of the others, even if it is not one of the linked Ps and Cs. A. True B. False

True

Brian took a job at a wholesaler, thinking only of the way wholesalers make products available to retailers. What he will realize when he starts working is that there is a flow moving in the opposite direction of money and valuable information, such as complaints. A. True B. False

True

Jim's firm had worked for several years to get producers, retailed and wholesalers working together. This system, which proved beneficial to all, is known as a vertical marketing system. A. True B. False

True

The need for a stronger and clearer customer perspective was the reason for the evolution from the 4 Ps to the 4 Cs is changing the customer perspective. A. True B. False

True

While some stores urge you to "eliminate the middleman" in transactions, significant value can be lost when manufacturers move to more direct marketing channels. A. True B. False

True

Which of the following is NOT one of the potential sources of conflict in supply chains? A. When payments will be made B. Which sales associates will oversee reordering and stocking issues C. How much shelf space can be allocated to a manufacturer's products D. When products will be delivered

Which sales associates will oversee reordering and stocking issues

A micromarketing approach A. assumes every customer is their own segment. B. is the process of separating customer groups based on location. C. assumes the market is just one big segment. D. is the process of separating customer groups based on lifestyle.

assumes every customer is their own segment.

A mass market approach A. assumes every customer is their own segment. B. is the process of separating customer groups based on lifestyle. C. assumes the market is just one big segment. D. is the process of separating customer groups based on location.

assumes the market is just one big segment.

Adrienne was thrilled with the new design she had for neckties and posted it on the company's website. It wasn't long before negative comments flowed in complaining about the colors she chose and the overall design. She scrapped that design and started over. If the design had gone into production it would have been a costly mistake, and the process that prevented this from happening is known as A. consumer-guided design. B. production feedback. C. crowd-creation. D. co-creation.

co-creation.

The level of availability for the product or service is referred to as A. exclusive distribution. B. distribution intensity. C. intensive distribution. D. selective distribution.

distribution intensity.

Generally, luxury or specialty products use a(n) ______ distribution strategy. A. intensive B. selective C. extensive D. exclusive

exclusive

A classic example of what can go wrong if a firm does not focus on the benefits a customer receives instead of the product itself was the railroad industry. That industry focused on improvements in trains and the rails themselves instead of A. focusing on the transportation, not trains. B. expanding the number of trains to accommodate growth. C. focusing on the comfort of the riders. D. including the stations and parking facilities in the modernization efforts.

focusing on the transportation, not trains.

Market segments should be internally ________ but externally __________. A. heterogeneous; homogeneous B. homogeneous; heterogeneous C. segmented; homogeneous D. heterogeneous; segmented

homogeneous; heterogeneous

The major sources of conflict in supply chains are the differing goals, differing ideas of who should be responsible for what, and A. brand image differences. B. geographic exclusivity. C. who sets prices. D. how target markets are seen.

how target markets are seen.

Direct supply chains have _______ with the advent of internet marketing. A. increased B. decreased C. remained the same D. been eliminated

increased

Producers wishing to increase customer convenience would a(n) ______ distribution strategy. A. intensive B. selective C. extensive D. exclusive

intensive

When producers utilize____________, they place their brands in as many outlets as possible. A. intensive distribution B. distribution intensity C. exclusive distribution D. selective distribution

intensive distribution

In general producers have _____ expertise in distribution logistics when compared to wholesalers and retailer. A. more B. less C. the same amount of D. Producers have no experience in this area.

less

Generally, higher quality brands use _______ distribution intensity. A. lower B. higher C. zero

lower

Vance, a marketing major, was helping his sister develop her retail shop. Her business was not thriving, and Vance quickly determined that trying to please everyone was pleasing no one. Together they worked out an approach where she would identify groups of customers who had similar needs, and then work with each group to meet their needs. This basic process in marketing is called A. demographics. B. marketing segmentation. C. market optimization. D. needs response.

marketing segmentation.

In ________ marketing the company identifies a subsegment that has special needs that typically is not large enough for the larger competitors in a market to pursue. A. micro B. differentiated C. niche D. multisegment

niche

The pattern of growing and declining sales in a product category over time is A. development stage. B. primary stage. C. product life cycle. D. introduction stage.

product life cycle

The recommended order when making mix decisions is: A. product, place, price, promotion, participation B. product, price, promotion, place, participation C. product, price, promotion, participation, place D. product, place, price, participation, promotion

product, place, price, promotion, participation

Geographic segmentation is often a function of ________ and _______ decisions combined. A. product; place B. product; promotion C. place; price D. place; promotion

product; place

Retailer ______________ is the ability of a retailer to attract consumers in a producer's target market or markets. A. fit B. type C. reach D. image

reach

When a company creates a different perception of the brand in the customer's mind they are _________. A. repositioning B. segmenting C. targeting D. micromarketing

repositioning

A group of customers the company decides to focus its marketing efforts on is a ________. A. target market B. positioning statement C. unique selling proposition D. perceptual map

target market

Positioning is A. the act of strategically locating products with a given geographic area. B. is used externally to give customers a sense of the company's brand. C. the act of creating a specific perception in the customer's mind relative to other options. D. the act of categorizing different groups of customers in a market, based on customer differences.

the act of creating a specific perception in the customer's mind relative to other options.

A target market is A. a group of customers loyal to another company. B. the group of companies a given company must take customers away from. C. the group of customers a company decides to focus its marketing efforts on. D. a group of customers a company doesn't want to market to because those customers are the least profitable.

the group of customers a company decides to focus its marketing efforts on.

Demographic segmentation is A. the process of categorizing different groups of customers in a market based personal characteristics such as age, race, and so on. B. the process of separating customer groups based on location. C. the process of separating customers based on what they do. D. the process of separating customer groups based on lifestyle.

the process of categorizing different groups of customers in a market based personal characteristics such as age, race, and so on.

Behavioral segmentation is A. the process of separating customer groups based on location. B. the process of separating customers based on what they do. C. the process of categorizing different groups of customers in a market, based on customer differences. D. the process of separating customer groups based on lifestyle.

the process of separating customers based on what they do.