Marketing

"For upscale American families, Volvo is the family automobile that offers maximum safety." This is an example of Volvo's ________. A) positioning statement B) service differentiation C) concentrated segmentation D) competitive advantage E) responsible target marketing

a

) Your current assignment at York Foods is to find the major advantages people look for in product classes, the kinds of people who look for each advantage, and the major brands that deliver each advantage. What is this segmentation method called? A) benefits sought B) user status C) age and life cycle D) USP E) psychographic

a

A company or store gains a(n) ________ by differentiating its products and delivering more value. A) competitive advantage B) positioning advantage C) cost advantage D) efficiency advantage E) synergy

a

By offering product and marketing variations to segments and developing a stronger position within several segments, companies hope to create more total sales through segmented marketing than ________ marketing across all segments A) undifferentiated B) differentiated C) niche D) target E) individual

a

Markets can be segmented into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product. This method of segmentation is called ________. A) user status segmentation B) usage rate segmentation C) benefit segmentation D) behavior segmentation E) loyalty status segmentation

a

Mass marketers, such as Target and Venture Stores, often ignore market segment differences and target the whole market with one offer. What is their approach to segmentation? A) undifferentiated marketing B) differentiated marketing C) markets-of-one marketing D) concentrated marketing E) micromarketing

a

Product mix depth refers to ________. A) the number of versions offered for each product in the line B) how closely related the various product lines are in end use, production requirements, distribution channels, or some other way C) the number of different product lines the company carries D) the total number of items a company carries within its product lines E) the total market share captured by the entire product line

a

The division of buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called ________ segmentation. A) behavioral B) psychographic C) age and life-cycle D) user status E) geographic

a

What competitive positioning strategy can attack a more-for-more strategy by introducing a brand offering comparable quality at a lower price? A) more-for-the-same B) more-for-less C) the-same-for-less D) less-for-much-less E) all-or-nothing

a

When firms use symbols, colors, or characters to convey their personalities, they are using ________ differentiation. A) image B) people C) usage rate D) user status E) subliminal

a

When the size, purchasing power, and profiles of a market segment can be determined, it possesses the requirement of being ________. A) measurable B) accessible C) substantial D) actionable E) observable

a

Which of the following is a pure tangible good? A) shampoo B) a spa treatment C) financial advice D) a meal at a restaurant E) a medical check-up

a

Which of the following is an industrial product in the category of capital items? A) factory B) cement C) crude petroleum D) coal E) paint

a

Which of the following is most likely to be an example of a convenience product? A) candy B) furniture C) life insurance D) car E) refrigerator

a

Which of the following is true of convenience products? A) Convenience products are distributed extensively, in as many locations as possible. B) Convenience products are primarily sold through personal selling and direct marketing rather than advertising. C) Convenience products are generally more expensive than shopping or specialty products. D) Convenience products follow the exclusive distribution format. E) Convenience products include appliances such as computers or washing machines

a

You have just created the "perfect" ad. It communicates the full mix of benefits upon which the brand is differentiated and positioned. This full positioning of the brand is called ________. A) its value proposition B) target marketing C) capturing the consumers' attention D) value profiling E) differentiated marketing

a

Your firm has decided to localize its products and services to meet local market demands. A good approach to use would be ________ segmentation. A) geographic B) benefit C) behavioral D) psychographic E) image

a

"Less-for-much-less" positioning involves meeting consumers' requirements for ________. A) moderate quality at a lower price B) lower quality for a lower price C) the same quality at the lowest possible price D) high quality at a discounted rate E) high quality at the lowest possible price

b

) Which of the following statements is true of unsought products? A) Unsought products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. B) A life insurance policy is an example of an unsought product. C) Unsought products have strong brand identification for which a significant group of buyers is willing to make a special purchase effort. D) As compared to convenience products, unsought products are purchased more frequently. E) Unsought products are those products purchased for further processing or for use in conducting a business.

b

A product mix is also known as a product ________. A) umbrella B) portfolio C) aggregation D) cluster E) assemblage

b

A refrigerator is most likely to be an example of a(n) ________ product. A) convenience B) shopping C) unsought D) specialty E) impulse

b

Argonaut Food Stores hires better-skilled employees than the competition by conducting lengthy searches and interviews. Management also trains employees much better than competitors. Argonaut has gained a strong competitive advantage through which type of differentiation? A) image B) people C) services D) product E) channel

b

As You Like It Inc. customizes its offers to each individual consumer. This practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________. A) niche marketing B) micromarketing C) variable marketing D) geographically dispersed marketing E) undifferentiated marketing

b

Ford Motor Company emphasizes "Quality first-Ford tough" in its truck products. The company has developed a differentiation strategy based on ________. A) people B) image C) channels D) services E) positioning

b

Marketers must be careful to guard against ________ when using age and life-cycle segmentation. A) copyrighting B) stereotyping C) traditional marketing D) differentiation E) cannibalization

b

Marketers of financial services and travel use which of the following types of segmentation? A) gender B) income C) occasion D) usage rate E) benefits sought

b

Neiman Marcus claims superior quality, performance, and style. The owners provide the most upscale products and services and charge a higher price to cover the higher costs. What type of positioning does Neiman Marcus use? A) more-for-the-same B) more-for-more C) all-or-nothing D) the-same-for-less E) more-for-less

b

Shampoo marketers segment buyers as light, medium, or heavy product users. This is an example of ________ segmentation. A) user status B) usage rate C) benefits sought D) occasion E) psychographic

b

Silkskin Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Silkskin is selling the products in specially designed tubes that make it easier to apply to the skin. Which of the following would be considered the augmented product for Silkskin's line of eye makeup? A) the natural ingredients B) after-sales beauty advice offered by Silkskin C) the products revolutionary packaging D) the hypoallergenic properties of the products E) the Silkskin brand

b

The 55-year-old baby boomers share common needs in music and performers. When a music company decides to serve this group, the group is called a ________.

b

The consistency of the product mix refers to ________. A) the number of versions offered for each product in the line B) how closely related the various product lines are in end use, production requirements, distribution channels, or some other way C) the number of different product lines the company carries D) the total number of items a company carries within its product lines E) the total market share captured by the entire product line

b

The markets you have chosen to serve in four western states can be effectively reached and served. You would tell the marketing manager that these segments are ________. A) measurable B) accessible C) substantial D) actionable E) profitable

b

When Burger King targets children, teens, adults, and seniors with different ads and media, it is practicing ________ segmentation. A) geographic B) age and life-cycle C) psychographic D) behavioral E) usage rate

b

When Port Orleans Shipping uses segmented marketing, it targets several segments and designs separate offers for each one. This approach is called ________ marketing. A) undifferentiated B) differentiated C) individual D) mass E) niche

b

When ProFem Inc. caters to clothing, cosmetics, and toiletries markets for women, it is most likely using which type of segmentation? A) age and life-cycle B) gender C) behavior D) psychographic E) geographic

b

When it first opened for business, Home Depot claimed to offer better products at lower prices. This hard-to-sustain value proposition is called ________. A) more-for-the same B) more-for-less C) same-for-less D) more-for-more E) same-for-more

b

Which difficult-to-sustain positioning strategy attempts to deliver the "best-of-both?" A) more-for-the-same B) more-for-less C) same-for-less D) more-for-more E) less-for-much-less

b

Which of the following is an industrial product that falls under the category of materials and parts? A) factory B) cement C) generator D) lubricant E) coal

b

Which of the following types of products is likely to the priced the lowest? A) shopping products B) convenience products C) specialty products D) industrial products E) capital products

b

Which of the following would be considered part of the augmented product rather than the actual product or core customer value? A) product quality B) warranty C) brand name D) design E) packaging

b

Which type of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage, expertise, and performance? A) services differentiation B) channel differentiation C) people differentiation D) product differentiation E) price differentiation

b

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A) Differentiation B) Positioning C) Market targeting D) Market segmentation E) Mass marketing

b

________ products are consumer products that the consumer either does not know about or knows about but does not normally consider buying. A) Convenience B) Unsought C) Transactional D) Shopping E) Peripheral

b

) A product line is considered to be too long if the manager can ________. A) decrease costs by adding items B) increase market share by dropping items C) increase profits by dropping items D) decrease costs by dropping items E) increase profits by adding items

c

) Under what circumstances would local marketing be the most effective? A) when pronounced differences in psychographics are present B) when pronounced similarities in lifestyles are present C) when pronounced regional and local differences in demographics and lifestyles are present D) when regional demographics and lifestyles are similar E) when pronounced similarities in psychographics are present

c

A laundry detergent is most likely to be an example of a(n) ________ product. A) unsought B) shopping C) convenience D) specialty E) industrial

c

A segment is less attractive when ________. A) it already contains very few strong and aggressive competitors B) it is difficult for new entrants to come into the segment C) it contains powerful suppliers who can control prices D) no actual or potential substitute products exist E) buyers have no bargaining power

c

BritWay Ventures chose a differentiated marketing strategy. The company had to weigh ________ against ________ when selecting this strategy. A) extra research; costs B) sales analysis; sales C) increased sales; increased costs D) geographic segmentation; demographic segmentation E) attitudes; perceptions

c

Dividing the market into segments according to when buyers get the idea to buy, actually make their purchase, or use the purchased item, is called ________ segmentation. A) demographic B) psychographic C) occasion D) user status E) usage rate

c

IBM's Smarter Planet campaign markets IBM as a company that provides innovative solutions that improve the world's IQ. This is an example of ________ marketing. A) segmented B) vertical C) organization D) horizontal E) diversified

c

Many firms make an effort to identify smaller, better-defined target groups by using ________. A) user rates B) loyalty segmentation C) multiple segmentation bases D) positioning E) mass marketing

c

Procter & Gamble sells six brands of laundry detergent in the United States, each designed for one of six laundry segments Procter & Gamble has identified. Together, these six brands take four times the market share of Procter & Gamble's nearest competitor. Which of the following is a disadvantage of Procter & Gamble's differentiated marketing strategy? A) lost sales that would have been made with an undifferentiated marketing strategy across all segments B) lost customer loyalty due to lack of brand loyalty C) increased costs for separate marketing plans for each brand D) other suppliers controlling pricing E) lack of resources to succeed in an attractive segment

c

Product mix width refers to ________. A) the number of versions offered for each product in the line B) how closely related the various product lines are in end use, production requirements, distribution channels, or some other way C) the number of different product lines the company carries D) the total number of items a company carries within its product lines E) the total market share captured by the entire product line

c

The answer to the customer's question, "Why should I buy your brand?" is found in the brand's ________. A) quality image B) customer services C) value proposition D) differentiation E) pricing and promotion structure

c

When Pacific Fisheries groups its customers as countries by regions such as Asia, Australia, or New Zealand, it is using which segmentation variable? A) economic factors B) political and legal factors C) geographic location D) benefits sought E) demographics

c

When Walmart customizes its merchandise store by store to meet shoppers' needs, it is practicing ________. A) niche marketing B) psychographic marketing C) local marketing D) social segmentation E) individual marketing

c

When a company interacts one-on-one with large numbers of customers to create customer-unique value by designing products and services tailor-made to individual needs, it is following ________. A) concentrated marketing B) mass marketing C) mass customization D) segmented marketing E) local marketing

c

When a market segment is large or profitable enough to serve, it is termed ________. A) measurable B) accessible C) substantial D) actionable E) differentiable

c

Which of the following is the right order of the four steps to design a customer-driven marketing strategy? A) market segmentation, differentiation, positioning, and targeting B) positioning, market segmentation, mass marketing, and targeting C) market segmentation, targeting, differentiation, and positioning D) market alignment, market segmentation, differentiation, and market positioning E) market recognition, market preference, market targeting, and market insistence

c

Which of the following statements is most likely to be true regarding a shopping product? A) It tends to have a lower price than a convenience product. B) A toothpaste is an example of a shopping product. C) As compared to convenience products, shopping products are purchased less frequently. D) Consumers buy shopping products with minimal comparison and buying effort. E) A life insurance policy is an example of a shopping product.

c

Which of the following terms best describes a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges? A) product umbrella B) product assemblage C) product line D) product congregation E) product cluster

c

Which positioning strategy offers consumers a "good deal" by offering equivalent-quality products or services at a lower price? A) more-for-the-same B) more-for-less C) the-same-for-less D) less-for-much-less E) all-or-nothing

c

________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible. A) Co-brands B) Line extensions C) Services D) Pure products E) Horizontal extensions

c

________ is the process of evaluating each market segment's attractiveness and selecting one or more segments to enter. Differentiation B) Mass marketing C) Market targeting D) Market segmentation E) Positioning

c

) Ad man Rosser Reeves believed that firms should develop a USP for each brand and stick to it. What does USP stand for? A) unique selling product B) unique services practice C) unique sales pitch D) unique selling proposition E) universal strategic practice

d

A company lengthening its product line by adding low-end products is an example of product line ________. A) filling B) strengthening C) mixing D) stretching E) widening

d

Demographic variables are the most popular bases for segmenting customer groups because they ________. A) create smaller segments B) create more easily reached segments C) do not involve stereotypes D) are easier to measure E) involve fewer attributes to consider

d

Few people can afford the best in everything they buy. At times, everyone needs a product with less quality or performance with a correspondingly lower price. In this case, a consumer would purchase a product positioned with a(n) ________ strategy. A) more-for-the-same B) more-for-less C) same-for-less D) less-for-much-less

d

Iron ore is an example of an industrial product that is most likely to come in the category of ________. A) capital items B) augmented products C) supplies D) materials and parts E) shopping products

d

It is most accurate to say that successful niche marketing relies on a firm's ________ and its ________. A) marketing strategy; services B) individual relationships with customers; positioning C) superior products; value network partners D) greater knowledge of customers' needs; special reputation E) competitive advantage in comparison to mass-market companies; affordable pricing

d

MTV targets the world's teenagers, who have similar needs and buying behaviors even though they are located in different countries. This is called ________ segmentation. A) political and legal B) cross-cultural C) cultural D) intermarket E) individual

d

Pediacertain Pet Supplies divides the pet market according to the owners' race, occupation, income, and family life cycle. What type of segmentation is Pediacertain using? A) geographic B) behavioral C) lifestyle D) demographic E) psychographic

d

Procter & Gamble selected the Millennials, a demographic that includes college students, as an untapped group of potential customers for their Febreze line of products. Which step of designing a customer-driven marketing strategy process are they executing? A) market segmenting B) mass marketing C) differentiation D) targeting E) positioning

d

Product mix length refers to ________. A) the number of versions offered for each product in the line B) how closely related the various product lines are in end use, production requirements, distribution channels, or some other way C) the number of different product lines the company carries D) the total number of items a company carries within its product lines E) the total market share captured by the entire product line

d

Rasco Corp. segments its foreign markets by the income levels of a country's population. This firm segments on what basis? A) political factors B) legal factors C) geographic factors D) economic factors E) cultural factors

d

Shark Enterprises practices a marketing strategy where its limited resources are used to pursue a large share of two small niches. Shark Enterprises practices which of the following strategies? A) undifferentiated B) differentiated C) mass customization D) concentrated E) geographically dispersed

d

Some companies can gain ________ through speedy, convenient, or careful delivery of products. A) price differentiation B) product differentiation C) channel differentiation D) services differentiation E) people differentiation

d

Superior Auto Sales, a chain of high-end used car dealerships, wants to sum up the company's standing and brand equity in a formal way. Superior's management should use a ________. A) mission statement B) vision statement C) competitive statement D) positioning statement E) company statement

d

The market segments your company is targeting are conceptually distinguishable and respond distinctively to various marketing mix elements and programs. Therefore, these segments are ________.

d

The use of commercial marketing concepts and tools in programs designed to influence individuals' behavior to improve their well-being and that of their community is called ________ marketing. A) advocacy B) associative C) organizational D) social E) integrative

d

When an effective program can be designed for attracting and serving a chosen segment, the segment is best described as ________.

d

Which of the following is most likely to be an example of a shopping product? A) toothpaste B) life insurance C) laundry detergent D) television E) candy

d

Which of the following statements is true of specialty products? A) Specialty products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. B) Typically, specialty products are more frequently purchased than convenience products. C) Specialty products generally have lower prices than convenience products. D) Buyers normally do not compare specialty products. E) A life insurance policy is an example of a specialty product.

d

Which of the following terms best describes the process of designing and producing the container or wrapper for a product? A) labeling B) branding C) licensing D) packaging E) schematizing

d

Which type of statement first states the product's membership in a category and then shows its point-of-difference from other members of the category? A) mission statement B) vision statement C) differentiation statement D) positioning statement E) statement of intent

d

________ marketing tailors brands and promotions to the needs and wants of specific cities, neighborhoods, and even stores. A) One-to-one B) Mass C) Niche D) Local E) Variable

d

________ products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. A) Shopping B) Specialty C) Transitory D) Convenience E) Unsought

d

________ products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. A) Convenience B) Transitory C) Unsought D) Shopping E) Secondary

d

________ products are those products that are purchased for further processing or for use in conducting a business. A) Unsought B) Specialty C) Shopping D) Industrial E) Convenience

d

A product line is considered to be too short if the manager can ________. A) increase profits by dropping items B) decrease costs by adding items C) increase market share by dropping items D) decrease costs by dropping items E) increase profits by adding items

e

A(n) ________ is defined as a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service. A) prototype B) paradigm C) framework D) attribute E) brand

e

At one time, Miller Beer was known as the "champagne of bottled beer." Unfortunately, Miller drinkers did not drink much beer. To increase sales, Miller was repositioned to attract the members of the middle-working class. What is this segmentation method called? A) user status B) usage rate C) benefit D) behavioral E) psychographic

e

Product line ________ involves adding more items within the present range of the line. A) stretching B) widening C) strengthening D) mixing E) filling

e

Silkskin Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Silkskin is selling the products in specially designed tubes that make it easier to apply to the skin. Which of the following is the core product value for Silkskin's line of eye makeup? A) the natural ingredients B) the Silkskin brand C) the products' revolutionary packaging D) the hypoallergenic properties of the products E) the possibility of having beautiful eyes

e

The paint used to paint an office is an example of an industrial product that is most likely to fall in the category of ________. A) materials and parts B) augmented products C) capital items D) shopping products E) supplies and services

e

Through ________, brands can be differentiated on features, performance, or style and design. A) people differentiation B) channel differentiation C) price differentiation D) services differentiation E) product differentiation

e

Which of the following is an example of an unsought product? A) furniture B) laundry detergent C) refrigerator D) toothpaste E) life insurance

e

Which of the following statements is most likely to be true of convenience product? A) A convenience product is distributed exclusively in only one or a few outlets per market area. B) A convenience product is a product about which a consumer knows but does not normally consider buying it. C) A Lamborghini automobile is an example of a convenience product. D) A convenience product usually has a higher price than a specialty product. E) It is bought by consumers with minimal comparison and buying effort.

e

________ products are distributed exclusively in only one or a few outlets per market area and they have unique characteristics or brand identification. A) Unsought B) Tertiary C) Transactional D) Convenience E) Specialty

e