Marketing exam 2
Product mix depth refers to the ________. A) number of versions offered for each product in the line B) ways in which the various product lines are related C) number of different product lines the company carries D) total number of items a company carries within its product lines E) total market share captured by the entire product line
A
Parvon, a cleaning product, is in the maturity stage of the product life cycle, and Parvon managers have decided to modify the market. Which of the following steps should Parvon managers most likely take to achieve this goal? A) find new market segments for the brand B) improve the overall quality of the product C) reduce mass media advertising expenses D) offer improved services to new buyers E) conduct controlled test marketing activities
A
Producers of popular beverages often partner with global music channels to target consumers through a variety of promotional events and advertisements. This approach to marketing is referred to as ________ segmentation. A) intermarket B) income C) age and life-cycle D) occasions E) gender
A
________ occurs when two established brand names of different companies are used on the same product. A) Licensing B) Co-branding C) Private branding D) Franchising E) Brand positioning
B
Market segments that can be effectively reached and served are said to be ________. A) measurable B) accessible C) substantial D) actionable E) profitable
B
A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) ________. A) modified rebuy B) new task situation C) straight rebuy D) dual distribution system E) exclusive distribution system
C
A market segment is less attractive when ________. A) there are few aggressive competitors in the segment B) it is difficult for new entrants to enter the segment C) it contains powerful suppliers who can control prices D) substitute products are unavailable in the segment E) buyers in the market segment have weak bargaining powers
C
Bill thought he had received the best deal on his riding mower. Shortly after the purchase, Bill started to notice certain disadvantages of his new riding mower as he learned more about other riding mowers available in the same price range. Bill is in which of the following stages of the buyer decision process? A) purchase decision B) need recognition C) post purchase behavior D) information search E) alternate evaluation
C
Compared with undifferentiated marketing, differentiated marketing is more likely to lead to ________. A) reduced sales in each market segment B) weaker product position in each market segment C) higher costs of doing business D) redundancy in product design across market segments E) smaller market share in the industry
C
A successful niche marketing strategy relies on a firm's ________. A) availability of services B) product positioning C) superior products D) knowledge of customer needs E) affordable pricing
D
A(n) ________ describes a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea. A) role B) cue C) drive D) attitude E) motive
D
Bakeries and coffee bistros that offer pumpkin-flavored items only during the autumn season target their consumers primarily through ________ segmentation. A) psychographic B) demographic C) income D) occasion E) age and life-cycle
D
According to Sigmund Freud's theory, a person's buying decisions are ________. A) easily revealed through online marketing surveys and questionnaires B) affected by motives that the person is completely aware of C) always driven by the need for status and independence D) motivated by needs that are arranged in a hierarchy E) affected by subconscious, hidden motivations
E
At the extreme, micromarketing becomes ________ insofar as products and marketing programs are tailored to the needs and preferences of customers. A) differentiated marketing B) multi-segmented marketing C) local marketing D) mass marketing E) individual marketing
E
A brand difference is said to be preemptive if ________. A) competitors cannot easily copy the difference B) buyers can afford to pay for the difference C) the difference can be introduced profitably D) the difference is communicable E) the difference is beneficial to customers
A
A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) ________. A) modified rebuy B) new-task situation C) straight rebuy D) dual distribution channel E) exclusive distribution channel
A
A company adding new features to a product will most likely assess each feature's value to customers relative to its ________. A) cost to the company B) performance in the market C) benefits to the company D) cost to the customers E) benefits to the supplier
A
A product is in the maturity stage of the product life cycle, and the company decides to modify the marketing mix. Which of the following steps is the company most likely to take? A) use aggressive sales promotions B) change features of the product C) improve product quality D) find new uses for the product E) explore new market segments
A
Although not recommended, some marketers decide to ignore market segmentation and target the whole market with one offer. This is known as ________ marketing. A) undifferentiated B) differentiated C) niche D) local E) individual
A
BerryBerry is a fruit juice company that has traditionally sold three varieties of mixed-fruit juices: DazzleBerry, AquaBerry, and GloBerry. The company wants to add more products to its product line. Which of the following is an example of brand extension for BerryBerry? A) The company introduces BerryBliss, a dried berry snack mix for kids. B) BerryBerry adds a new fruit juice flavor, TangyBerry. C) The company introduces a line of flavored milk and yogurt under a new brand name. D) The company creates a new brand, NatureFresh, for a line of cosmetics based on fruit flavors and colors. E) BerryBerry teams up with SFX, a sporting goods company, to introduce a line of energy bars called BerryBerry SFX.
A
Business advisory services such as legal or advertising are classified under which category of industrial products? A) supplies and services B) capital items C) raw materials D) materials and parts E) specialty products
A
Colonial furniture has been in existence since the 1600s and continues to adorn homes today. According to the product life cycle concept, it would be described as a ________. A) style B) fashion C) fad D) trend E) drift
A
Delta, an American video game manufacturer, targets teens between the ages of 13 and 18, providing free game trials and applications. The firm's marketing approach exemplifies ________ segmentation. A) age and life-cycle B) geographic C) occasion D) gender E) income
A
Devon is in the market for a new car. She is seriously considering either a Honda Civic or Toyota Corolla because they both have excellent quality and safety ratings and are comparable in price. Devon is in the ________ stage of the buyer decision process. A) evaluation of alternatives B) need recognition C) information search D) purchase decision E) post purchase behavior
A
Dividing 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
During the ________ stage of the product life cycle, product sales may plunge to zero, or drop to a low level where they continue for many years. A) decline B) growth C) maturity D) ideation E) analysis
A
Eastline, a manufacturer of outdoor patio furniture, positions its products as superior in weatherproofing and durability. This is an example of ________ differentiation. A) product B) services C) image D) people E) channels
A
Foods International is developing a new gluten-free, chili-flavored pretzel. The marketing strategy for the product has already been developed and presented to top management. Several prototypes were also formulated by the company's R&D team. The final prototype is now being tested rigorously to ensure that it passes FDA standards. Once approved, the next step will most likely be ________. A) test marketing B) portfolio analysis C) commercialization D) internal marketing E) business analysis
A
GE operates a company trading site where it posts purchasing needs, invites bids, negotiates terms, and places orders. This is an example of a(n) ________. A) company buying site B) intranet link C) search engine D) trading exchange E) reverse auction
A
Harper Farms raises chickens. For years, it has used wooden coops for hauling its poultry to market. When the owner, Jane Harper, went to reuse some of her coops, she noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Which stage of the business buying decision process was Harper in when she decided to replace her old coops? A) problem recognition B) general need description C) product specification D) product value analysis E) performance review
A
In the ________ stage, a firm most likely faces a trade-off between high market share and high current profit. A) growth B) decline C) maturity D) introduction E) commercialization
A
In which of the following cases is crowdsourcing used for new product development? A) A company creates a forum where anyone can contribute new product ideas. B) A company hires a marketing agency to generate new product ideas. C) A company reviews the sales, costs, and profit projections of an existing product. D) A company depends on its R&D department to come up with new ideas. E) A company partners with a design agency to create a few prototypes.
A
In which of the following stages of the adoption process does a consumer seek information about a new product? A) interest B) adoption C) evaluation D) awareness E) trial
A
Lilly's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Lilly's most likely segments the consumer market based on ________ variables. A) demographic B) psychographic C) universal D) geographic E) behavioral
A
Many companies are taking a ________ approach today, viewing quality as an investment and holding quality efforts accountable for bottom-line results. A) return-on-quality B) quality level C) performance quality D) conformance quality E) total quality management
A
Many marketers now embrace a ________ strategy, integrating ethnic and cross-cultural perspectives within their mainstream marketing. A) total market B) cultural marketing C) viral marketing D) social marketing E) cause marketing
A
Marketing the same product to a huge customer base without any customization is referred to as ________. A) mass marketing B) differentiated marketing C) niche marketing D) local marketing E) individual marketing
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) behavioral segmentation E) loyalty status segmentation
A
Rad, a manufacturer of luxury watches, charges a higher price for its products than its competitors. Despite the high prices, the brand is popular among customers for its quality and service in comparison to cheaper alternatives available in the market. In this case, Rad offers a(n) ________ value proposition. A) more-for-more B) more-for-the-same C) more-for-less D) all-or-nothing E) same-for-less
A
Sleek Designs Inc. is producing its first eReader. The company is striving to overcome some of the issues communicated by customers about competitive products including screen glare and product bulkiness. Sleek Designs Inc. is using a ________ approach in their new product development process. A) customer-centered B) team-based C) sequential D) supply/demand E) systematic
A
The McDonald's corporate brand name and golden arches can be classified as ________ that may potentially stimulate an individual's attention and decision about whether or not to dine at the restaurant. A) cues B) drives C) motives D) needs E) attitudes
A
The distinctive yellow and blue "hands held high" logo of a local daycare distinguishes it from other establishments. The logo is prominently displayed on its building, t-shirts worn by the children, and at fundraising events. The daycare has differentiated itself through ________. A) image B) people C) services D) channels E) positioning
A
The stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as ________. A) concept testing B) concept development C) test marketing D) marketing strategy development E) crowdsourcing
A
The third part of a marketing strategy statement describes the ________ of a new product. A) sales, market share, and profit goals B) distribution and pricing C) marketing budget D) planned value proposition E) target market and sales goals
A
Using ________, researchers measure consumer responses to new products and marketing tactics in laboratory stores or virtual online shopping environments. A) simulated test markets B) controlled test markets C) business analysis D) standard test markets E) concept development
A
Using a ________ positioning strategy, companies can attack the more-for-more strategy of another firm by offering a brand of comparable quality at a lower price. A) more-for-the-same B) more-for-less C) same-for-less D) less-for-much-less E) less-for-more
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) channel
A
When the size, purchasing power, and profiles of a market segment can be determined, the market segment is said to be ________. A) measurable B) accessible C) substantial D) actionable E) observable
A
Which of the following costs is most likely associated with commercialization? A) building or renting a manufacturing facility B) paying groups of consumers for participating in crowdsourcing activities C) determining a product's planned price, distribution, and marketing budget D) developing a prototype of a product E) using simulated tests to measure market capacity
A
Which of the following is a personal factor that influences a consumer's buying behavior? A) life-cycle stage B) motivation C) status D) family E) social networks
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 a social factor that influences consumer buying behavior? A) family B) life-cycle stage C) economic situation D) personality E) occupation
A
Which of the following is an example of a convenience product? A) candy B) furniture C) life insurance D) automobile E) refrigerator
A
Which of the following is an example of an industrial product grouped under capital items? A) factory B) cement C) crude petroleum D) coal E) paint
A
Which of the following is an industrial product categorized under supplies and services? A) coal B) wheat C) lumber D) elevator E) generator
A
Which of the following is the first stage of the buyer decision process? A) need recognition B) information search C) evaluation of alternatives D) purchase decision E) postpurchase behavior
A
Which of the following statements about buying centers is true? A) The buying center is not a fixed and formally identified unit within a buying organization. B) Roles in the buying center are specified in the organizational chart of a firm. C) The CEO of an organization is always the decision maker in a buying center. D) An individual's role in a buying center does not change with time. E) All buying centers involve formal participants.
A
Zeal is a popular automobile brand, and its positioning statement is: "For upscale American families who require large vehicles, Zeal is the automobile of choice." Which of the following mandatory elements is missing from the positioning statement? A) point of difference B) target audience C) brand name D) product category E) need
A
________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert social influence on others. A) Opinion leaders B) Late mainstream adopters C) Strangers D) Barnacles E) Lagging adopters
A
________ is the degree to which an innovation appears superior to existing products. A) Relative advantage B) Compatibility C) Complexity D) Divisibility E) Communicability
A
________ is the degree to which an innovation may be tried on a limited basis. A) Divisibility B) Compatibility C) Communicability D) Relative advantage E) Complexity
A
________ means that consumers are likely to remember good points made about a brand they favor and forget the good points made about competing brands. A) Selective retention B) Selective distortion C) Selective attention D) Restraint bias E) Subliminal perception
A
________ occurs when a company uses its existing brand name for new forms, colors, sizes, ingredients, or flavors of an existing product category. A) Line extension B) Co-branding C) Private labeling D) Brand extension E) Clustered branding
A
________ refers to the unique psychological characteristics that distinguish a person or group. A) Personality B) Lifestyle C) Status D) Attitude E) Role
A
A baby boomer decides to purchase a BMW to impress others with her success. This illustrates the importance of understanding the role of ________ in the marketing process. A) personality B) motive C) attitude D) learning E) perception
B
A child in the United States is exposed to many values including achievement and success, freedom, individualism, hard work, and material comfort. These are symbolic of American ________. A) subculture B) culture C) society D) perceptions E) expectations
B
A detailed version of a product idea stated in meaningful consumer terms is a ________. A) product feature B) product concept C) product idea D) product image E) product framework
B
A marketing firm has been assigned the task of watching trends in spending, personal income, savings, and interest rates. The marketing firm is most likely gathering information about consumers' ________. A) social network usage rates B) economic situations C) occupational needs D) purchasing perceptions E) brand affiliations
B
A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ________. A) membership group B) reference group C) laggard D) subculture E) late-majority adopter Answer: B
B
A(n) ________ becomes a motive when it is directed toward a particular stimulus object. A) cue B) drive C) response D) belief E) attitude
B
Alice is shopping for a new car, and she has narrowed her decision to a Honda Accord and a Toyota Camry. Both sedans have similar features and prices, but Alice decides to purchase the Honda based on her intuition. Which of the following situations would most likely cause Alice to experience postpurchase dissonance? A) The price of the Honda Accord increases by a huge margin. B) The price of the Toyota Camry falls due to an increase in demand. C) The Honda Accord meets all her expectations and satisfies her needs. D) The Toyota Camry experiences technical failures that lead to a recall. E) The maintenance costs of the Honda Accord decrease significantly over time.
B
An innovation management system would most likely be used by ________. A) managers to update details about customer information B) brand managers to collect, review, and evaluate new product ideas C) suppliers to access inventory information D) product managers to track logistics of a new product E) human resource managers to update information on employee incentives
B
Argonaut Food Stores, a retail giant, hires better-skilled employees than its competitors by employing strategic recruitment practices. It also conducts highly specialized training programs for its employees. In this case, Argonaut has focused on gaining a strong competitive advantage through ________ differentiation. A) image B) people C) services D) product E) channel
B
As a result of ________, a company cannot make its product illegally similar to a competitor's already established product. A) anti-monopoly laws B) patent laws C) antitrust laws D) product warranties E) product liability
B
Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ________. A) product length B) product mix C) product depth D) product consistency E) product assemblage
B
Consistency of a product mix refers to the ________. A) number of versions offered for each product in the line B) ways in which the various product lines are related C) number of different product lines the company carries D) total number of items a company carries within its product lines E) total market share captured by the entire product line
B
Consumer products that the buyer either does not know about or knows about but does not normally consider buying are referred to as ________ products. A) convenience B) unsought C) specialty D) shopping E) industrial
B
Corning produces Gorilla Glass screens that are used in the production of laptops, tablets, and smartphones. Corning promotes its product to final consumers to increase business demand for digital devices made with the specialized, toughened glass. This illustrates ________. A) types of decisions B) derived demand C) market structure D) the decision process E) nature of the buying unit
B
Craft Inc.'s Krayons is a multi-color chalk material that was released in the market over a century ago. Since the release, the company has had remarkable sales and Krayons has remained unchanged. However, over the last few years, sales of Krayons have been stagnant. Competitors have begun marking prices down, and increasing their advertising and sales promotions. Craft's Krayons is most likely in the ________ stage of the product life cycle. A) introduction B) maturity C) growth D) decline E) incubation
B
Doggie World concept tested an idea for a new chew toy that would entertain dogs while simultaneously cleaning their teeth. Dog owners were pleased with the results. The next stage in developing the new product concept is ________. A) idea screening B) marketing strategy development C) business analysis D) product development E) test marketing
B
During which stage of the business buying decision process is a buyer most likely to conduct value analysis by carefully studying components to determine if they can be redesigned, standardized, or made less expensively? A) general need recognition B) product specification C) proposal solicitation D) order-routine specification E) performance review
B
Flores Fashions promotes its clothing by emphasizing the durability and quality of the fabrics it uses. The company has positioned its brand based on ________. A) product benefits B) product attributes C) beliefs and values D) market share E) brand loyalty
B
Hallmark's classic "When you care enough to send the very best" slogan appeals to which need category in Maslow's hierarchy? A) physiological B) social C) esteem D) self-actualization E) safety
B
Household Storez, a local retail store, claims to offer better products at lower prices than other retail stores. In this case, the firm's positioning reflects a ________ value proposition. A) more-for-the same B) more-for-less C) same-for-less D) more-for-more E) same-for-more
B
Howard Schultz, the founder of Starbucks, positioned his bistros as "a third place" between work and home where patrons could share and enjoy a cup of coffee with friends. This illustrates ________. A) an actual product B) a core customer value C) simple bundling D) an augmented product E) complex bundling
B
In a straight rebuy, a buyer ________. A) wants to obtain the same product from a lower-priced supplier B) reorders something without any modifications C) considers a product or service for the first time D) needs a modified product to suit new requirements E) finds new ways to add value to the same product
B
In which stage of the product life cycle will promotional expenditures be significantly high in an attempt to create consumer awareness of a product and its features? A) product development B) introduction C) growth D) maturity E) adoption
B
Kallton is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its Web site that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Kallton is using ________ to generate new product ideas. A) marketing strategy development B) crowdsourcing C) concept development D) business analysis E) test marketing
B
Major appliances, furniture, and clothing are typical examples of ________ products. A) convenience B) shopping C) unsought D) specialty E) capital
B
Non-Dairy Delight, a manufacturer of soy milk, attracts new customers by adding cinnamon, pumpkin, and vanilla flavors to its traditional product. In this case, the company has developed its brand with ________. A) brand extensions B) line extensions C) multibranding D) new product lines E) co-branding
B
P&G was among the first to use ________ segmentation when it introduced Secret, a deodorant brand specially formulated for women's chemistry. A) age and life-cycle B) gender C) behavior D) psychographic E) geographic
B
Port Orleans Shipping markets different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called ________ marketing. A) concentrated B) differentiated C) individual D) mass E) local
B
Safari Unlimited recently conducted national research to generate ideas for a new line of fatigues geared to women. The company uncovered a number of ideas about clothing and accessory preferences as well as important benefits such as built-in sunblock and durability. The Safari Unlimited product development team will most likely use ________ next to arrive at a realistic number of products for the new fatigues line. A) crowdsourcing B) idea screening C) concept testing D) concept development E) business analysis
B
Service variability means that ________. A) the evaluation of services is subjective and changes from customer to customer B) service quality depends on when, where, and how they are provided C) services cannot be stored for later sale or use D) services cannot be seen, tasted, felt, heard, or smelled before they are bought E) services can be separated from their providers
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
Taco Bell test marketed Doritos Locos Tacos for three years and developed 45 prototypes. Once the decision was made to launch the new taco shell, it moved into the ________ stage of the new product development process. A) concept development B) product development C) test marketing D) strategy development E) commercialization
B
The full positioning of a brand is referred to as the ________. A) differentiated strategy B) concentrated strategy C) unique selling proposition D) value proposition E) undifferentiated strategy
B
The new product development process usually starts with ________. A) idea screening B) idea generation C) concept development D) concept testing E) market strategy development
B
The 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) segmented marketing D) global marketing E) undifferentiated marketing
B
What is the most important consumer buying organization in society? A) leading adopters B) the family C) membership groups D) reference groups E) aspirational groups
B
Which of the following is an approach where firms target a whole market based on common consumer needs? A) demographic segmentation B) undifferentiated marketing C) micromarketing D) concentrated marketing E) geographic segmentation
B
Which of the following is an example of licensing? A) DMX, an electronics manufacturer, acquires Z-Elex, a start-up firm, and sells all Z-Elex's products under the DMX brand name. B) Berry, a fruit juice company, uses a well-known cartoon character to promote the company's line of children's products and pays the creator of the cartoon character a fee. C) XLC, a sporting goods firm, sponsors a number of top athletes in various sports and also hosts the XLC Sporting Achievement Awards. D) ZetaBike, a bicycle manufacturer, teams up with VitaWater, a sports drink producer, to introduce ZetaVita, an energy drink. E) Mason's, a retail chain, sells a number of different products from different manufacturers under the brand name Mason's
B
Which of the following is an industrial product categorized under materials and parts? A) factory B) cement C) generator D) drill presses E) coal
B
Which of the following is considered a major influence on business buyer behavior? A) general need B) organizational factors C) social forces D) demographic criteria E) performance reviews
B
Which of the following statements is most likely true about unsought products? A) Unsought products are consumer products and services that customers buy frequently. B) Marketers use aggressive advertising to convince consumers to buy unsought products. C) Unsought products are typically purchased for further processing by industrial manufacturers. D) Compared to convenience products, unsought products are purchased more frequently. E) Unsought products offer many unique characteristics to status-conscious consumers.
B
Which of the following steps of the new product development process would most likely use an R-W-W framework? A) idea generation B) idea screening C) concept testing D) test marketing E) commercialization
B
Which of the following strategies is most likely to be followed by firms that position themselves as caterers of the best products at economical prices? 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 types 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
Zappos recognizes the importance of the buyer-seller interaction. They only hire people with an innate "passion to serve" and they go through four weeks of customer loyalty training. This is referred to as ________ marketing. A) horizontal B) interactive C) advocacy D) social E) internal
B
________ can describe a product class, a product form, or a brand. A) The product development process B) The product life cycle concept C) Business analysis theory D) Vendor analysis theory E) Portfolio analysis
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
________ is a discomfort caused by post purchase conflict. A) Selective retention B) Cognitive dissonance C) Selective attention D) Restraint bias E) Subliminal perception
B
A company launching a new product must first decide ________. A) where to launch the product B) the sample size of the market C) when to launch the product D) the viability of a global launch E) the budget for print advertising
C
A product life cycle has five distinct stages: product development, introduction, growth, maturity, and ________. A) stabilization B) rebranding C) decline D) progression E) segmentation
C
A product line is most likely too long if managers can ________. A) decrease costs by adding items B) increase market share by adding items C) increase profits by dropping items D) decrease costs by dropping items E) increase profits by adding items
C
A&B's Smarter Planet campaign markets A&B as a company that provides innovative solutions that improve the world's IQ. This activity of A&B is an example of ________ marketing. A) segmented B) vertical C) organization D) horizontal E) diversified
C
At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance departments work in cross-functional groups to save time and money in the new product development process. From this description, it can be inferred that Fantastic Flavors uses a(n) ________ approach. A) intradepartmental new product development B) sequential new product development C) team-based new product development D) simulated test market E) controlled test market
C
Electric cars are not considerably different or difficult to drive relative to gas-powered cars. However, this is not aligned with the perceptions or conceptual concerns held by the public about the new technology. This will likely slow the adoption rate due to the ________ of the innovation. A) relative advantage B) compatibility C) complexity D) divisibility E) communicability
C
Evans and Hills, a beverages manufacturing company, has developed a new line of specialty teas and is seeking regular input from the test marketing process. To facilitate this process, the firm uses BuyerScan, a software that generates store-by-store, week-by-week reports on the actual sales of tested products and the impact of in-store and in-home marketing efforts. Which of the following approaches does this scenario illustrate? A) standard test markets B) inventory tracking C) controlled test markets D) simulated test markets E) direct commercialization
C
Fads are characterized by their ________. A) enduring nature that spans several generations B) low rates of adoption by consumers C) unusually high sales and rapid decline D) basic and distinctive modes of expression that seldom become unpopular E) non-attainment of the last two stages of the product life cycle
C
Flurrbies, a line of winter accessories by a leading fashion label, quickly fell in and out of favor with customers. Flurrbies represents an example of a ________. A) form B) fashion C) fad D) style E) drift
C
Fred's faith in Asics, his favorite brand of running shoes, makes him consider other offerings introduced by Asics. Fred is not a risk-taker, and he tends to evaluate each new product carefully before adopting it. Fred is an opinion leader in his social networking community and best described as a(n) ________. A) lagging adopter B) innovator C) early adopter D) early mainstream adopter E) late mainstream adopter
C
Fred's, a national supermarket chain, sells its own brand of items across all categories. Such items are considered ________ brands. A) national B) manufacturer's C) private D) extended E) licensed
C
Gershwin, a musical toy for toddlers, is in the maturity stage of the product life cycle, and Gershwin managers have decided to modify the product. What will Gershwin managers most likely do to achieve this goal? A) change distributors B) offer coupons for the toy C) change the packaging of the toy D) launch an online advertising campaign E) cut prices of the toy to attract new customers
C
Gold Class Electricals, a consumer-electronics firm, targets market segments based on factors such as country, age, social class, usage rate, and benefits sought. The company divides its markets based on ________. A) demographic variables B) geographic regions C) multiple segmentation bases D) behavioral variables E) psychographic segmentation bases
C
Gulf Coast, a wholesale shrimp distributor, groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Gulf Coast tailors a different set of advertisements and promotions. The supplier is segmenting its market according to ________. A) behavioral factors B) personality characteristics C) geographic location D) benefits sought E) demographics
C
Hollingsworth is a retail company that is planning to release a new line of luxury personal care products. Its managers are now reviewing the sales history of similar products and conducting marketing surveys to estimate minimum and maximum sales for the product. In which of the following stages of the new product development process is the product? A) test marketing B) idea screening C) business analysis D) marketing strategy development E) concept testing
C
If a product passes both the concept test and the product test, the next step is most likely to be ________. A) marketing strategy development B) product development C) test marketing D) business analysis E) concept development
C
In terms of packaging functions, Tiffany & Co.'s robin egg blue boxes ________. A) are primarily used to hold and protect products B) have created confusion in the marketplace C) create immediate consumer recognition D) deemphasize the importance of labels E) stifle brand awareness and recognition
C
In which of the following stages of the adoption process does a consumer consider whether trying a new product makes sense? A) interest B) adoption C) evaluation D) awareness E) trial
C
Laundry detergent, candy, magazines, and fast food are purchased frequently by customers. They are examples of ________ products. A) unsought B) shopping C) convenience D) specialty E) industrial
C
Product mix width refers to the ________. A) number of versions offered for each product in the line B) ways in which the various product lines are related C) number of different product lines the company carries D) total number of items a company carries within its product lines E) total market share captured by the entire product line
C
Sportware, a leading shoe manufacturer, markets sneakers under the brand name "Athletix" and dress shoes under the brand name "Cameo" in order to target the two different market segments. What branding strategy is most likely being used by Sportware? A) brand extensions B) line extensions C) multibrands D) new brands E) co-brands
C
Susan has been redecorating her new condo for a year. She is carefully selecting every item. Susan finds an oriental rug that matches her color scheme and décor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n) ________. A) shopping product B) convenience product C) specialty product D) industrial product E) capital product
C
The marketing manager at Frizzles' Eateries targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Frizzles' approach is best referred to as ________ segmentation. A) age and life-cycle B) user status C) benefit D) demographic E) geographic
C
The marketing manager of Refresh Inc., a leading producer of soft drinks, is considering a differentiated marketing strategy. An important consideration is weighing increased sales against ________ before selecting this strategy. A) decreased production B) increased demand C) increased costs D) decreased prices E) increased profits
C
The second part of a marketing strategy statement describes the ________ of a new product. A) marketing mix strategy B) profit and sales goals C) planned price, distribution, and marketing budget D) target market and sales goals E) planned value proposition
C
The style, ease of use, and multi-blade technology of Gillette's Fusion razor system is a ________ that has favorably impacted consumer perceptions about other new products sold by the company. A) product audit B) product feature C) product image D) product framework E) product concept
C
Under a ________ product development approach, one company department works to complete its stage of the product development process before passing the new product along to the next department and stage. A) cross-sectional B) simultaneous C) sequential D) team-based E) systematic
C
When Goodyear sells replacement tires to final consumers, its potential market includes millions of car owners around the world. But its fate in business markets depends on getting orders from only a handful of large automakers. This represents the difference in ________ between business and consumer markets. A) types of decisions B) derived demand C) market structure D) the decision process E) nature of the buying unit
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 engaging in ________. A) concentrated marketing B) mass marketing C) mass customization D) differentiated 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
When a product is in the ________ stage, profits level off or decline because of increased marketing outlays to defend the product against competition. A) production B) decline C) maturity D) test marketing E) conception
C
Which of the following is a commercial source of product information? A) acquaintances B) family and friends C) dealer Web sites D) consumer rating organizations E) Internet searches
C
Which of the following is a psychographic characteristic of a consumer? A) gender B) age C) lifestyle D) occupation E) economic status
C
Which of the following is most likely a true statement about shopping products? A) Shopping products tend to be less expensive than convenience products. B) The existence of such products is generally unknown to consumers. C) Shopping products are purchased less frequently than convenience products. D) Consumers typically spend very little time comparing shopping products. E) A life insurance policy is an example of a shopping product.
C
Which of the following is most likely a true statement about social class? A) Members of a social class vary drastically in their values, interests, and behaviors. B) In the United States, the lines between social classes are fixed and rigid. C) Social classes show distinct product preferences in areas such as clothing. D) Wealth is a more important variable than education in measuring social class. E) Consumers of the same age belong to the same social class.
C
Which of the following is most likely true of a product in the maturity stage of the product life cycle? A) Sales are zero, and the company's investment costs mount. B) New competitors enter the market. C) A slowdown occurs in sales growth. D) Sales increase with decreasing competition. E) New distribution channels are acquired.
C
Which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy? A) market segmentation, differentiation, positioning, and market targeting B) positioning, market segmentation, mass marketing, and market targeting C) market segmentation, market 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 is true about local marketing? A) It does not cater to individual stores. B) It does not support evolving technologies. C) It increases manufacturing costs. D) It increases economies of scale. E) It reduces logistical issues.
C
Which of the following is true of perceptual positioning maps? A) They are used by marketers to divide a market into smaller groups with distinct characteristics. B) They are used by marketers to identify supplier and retailer perceptions of a product. C) They are used to analyze consumer perceptions of a brand relative to competing products. D) They are used to divide buyers into groups based on their perceived income and age. E) They are used to plot the geographic segments that a company needs to target.
C
Which of the following is true of the product life cycle (PLC)? A) All products generally go through all five stages of the PLC. B) All products pass through the stages of PLC in the same order. C) It is generally difficult to forecast the sales level at each PLC stage. D) The PLC concept can be applied to styles but not to fashions and fads. E) Product forms have longer life cycles than product classes.
C
Which of the following sources of product information can marketers control completely? A) public B) personal C) commercial D) experimental E) experiential
C
Which of the following terms is used to describe a specific mix of human traits that may be attributed to a particular brand? A) brand perception B) brand architecture C) brand personality D) brand loyalty E) brand equity
C
Which positioning strategy offers value for consumers by providing the same brands as competitors at a lower price? A) more-for-the-same B) more-for-less C) same-for-less D) less-for-much-less E) more-for-more
C
Which type of market segmentation is generally used by marketers who sell luxury products targeted to the affluent segments of a population? A) usage rate B) occasion C) income D) benefits sought E) gender
C
World Skies' Flight 167 takes off at 50 percent capacity. The unoccupied seats cannot be stored for later sale or use. This is an example of which service characteristic? A) tangibility B) intangibility C) perishability D) variability E) inseparability
C
_______ segmentation factors divide buyers into different groups based on social class, lifestyle, or personality characteristics. A) Geographic B) Demographic C) Psychographic D) Behavioral E) User status
C
________ involves a review of the sales, costs, and profit projections for a new product to determine whether they satisfy a company's objectives. A) Vendor analysis B) Portfolio analysis C) Business analysis D) SWOT analysis E) Concept analysis
C
________ involves enlisting or even creating opinion leaders to serve as brand ambassadors who spread the word about a company's products. A) Social marketing B) Traditional marketing C) Buzz marketing D) Direct marketing E) Values marketing
C
________ is the stage where a product and its proposed marketing program are introduced into realistic market settings. A) Market strategy development B) Concept testing C) Test marketing D) Concept development E) Business analysis
C
________ refer to 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
Appliances Galore is continually updating its line of refrigerators to reflect market trends and customer needs. Although the product class is in the maturity stage of the product life cycle, they maintain healthy sales of their line of refrigerators by continually ________. A) concept testing B) modifying the marketing mix C) rebranding D) modifying the product E) modifying the market
D
Becca wants to buy a new coat. She asks her friends to recommend a store and/or a style of coat. She looks for sale advertisements for coats in newspapers and also visits nearby stores to check if she can find a coat in her budget. In this case, Becca is most likely in the ________ stage of the buyer decision process. A) product evaluation B) evaluation of alternatives C) need recognition D) information search E) purchase decision
D
Cement is an example of an industrial product that is categorized under ________. A) capital items B) augmented products C) supplies and services D) materials and parts E) shopping products
D
Companies are likely to 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
Company and brand positioning should be summed up in a ________. A) mission statement B) vision statement C) profit statement D) positioning statement E) corporate statement
D
Danko International is a multinational company that targets the BRIC countries (Brazil, Russia, India, and China) because they're fast-growing developing economies and use ________ to segment its world markets. A) political factors B) legal factors C) personality factors D) economic factors E) cultural factors
D
Electronics International has experienced a significant decline in sales for SweetTunes, its MP3 player, during the past two years. In response, the company has reduced its advertising and sales expenditures for SweetTunes in an attempt to improve short-run profits. Which term best describes Electronics International's strategy for SweetTunes? A) sales outsourcing B) product modification C) industry repositioning D) product harvesting E) marketing mix modification
D
Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Harry's most likely segments the consumer market based on ________ variables. A) geographic B) psychographic C) universal D) demographic E) behavioral
D
If men and women respond dissimilarly to the marketing efforts for a root beer-flavored malt beverage, they are considered ________ market segments. A) accessible B) measurable C) reachable D) differentiable E) observable
D
In a sequential new product development process, which of the following is true of the product development step? A) Product development is usually followed by a business analysis of the product. B) Product development involves introducing a product into realistic market settings. C) Product development avoids testing products on actual customers due to liability concerns. D) Product development is usually followed by test marketing. E) Product development helps top management review profit projections.
D
In the ________ stage of new product development, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them. A) business analysis B) idea generation C) concept screening D) product development E) test marketing
D
Introducing a new product into the market is called ________. A) test marketing B) segmentation C) product development D) commercialization E) market penetration
D
Lengthening a product line beyond its current range is referred to as product line ________. A) filling B) strengthening C) mixing D) stretching E) widening
D
One reason demographic variables are the most popular bases for segmenting customer groups is because they ________. A) create smaller segments B) create more easily accessible segments C) do not involve stereotypes D) are easier to measure than other variables E) involve fewer attributes to consider
D
Orienting and motivating customer-contact employees and supporting service people to work as a team to provide customer satisfaction is known as ________ marketing. A) social B) organizational C) differentiated D) internal E) interactive
D
Pediacertain Pet Supplies, a pet-food company, divides the pet market according to the pet owners' gender, occupation, income, and family life cycle. In this case, which of the following variables has the company used for market segmentation? A) geographic B) psychographic C) benefit D) demographic E) occasion
D
Product mix length refers to the ________. A) number of versions offered for each product in the line B) ways in which the various product lines are related C) number of different product lines the company carries D) total number of items a company carries within its product lines E) total market share captured by the entire product line
D
Some companies are now appointing ________, whose job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems. A) intradepartmental teams B) idea generation teams C) product audit committees D) product stewards E) listening officers
D
Specialty products are consumer products and services that customers generally buy ________. A) to conduct business B) frequently and immediately C) based on ready availability D) without making comparisons E) with minimal effort
D
Stores offering low-quality alternatives to luxury products at low prices most likely follow a ________ positioning strategy. A) more-for-the-same B) more-for-less C) same-for-less D) less-for-much-less E) more-for-more
D
The Dairy Bar, a national soft-service ice cream retailer, buys cones from Cones & More. Cones & More is an important resource for marketplace information. They're considered a(n) ________ source of new product ideas for the Dairy Bar. A) entrepreneurial B) competitive C) external D) internal E) intrapreuneurial
D
The first part of a marketing strategy statement describes the ________ of a new product. A) planned price and distribution B) marketing budget C) marketing mix strategy D) target market, planned value proposition, and sales goals E) planned long-run sales and market share
D
The most effective sources of information about a product tend to be ________. A) commercial B) public C) experimental D) personal E) paid
D
The team-based new product development approach saves times and increases effectiveness because departments work closely together in ________. A) divisional teams B) problem-solving teams C) self-managed groups D) cross-functional teams E) independent groups
D
The use of traditional business marketing concepts and tools to create behaviors that will benefit individual and societal well-being is called ________ marketing. A) person B) green C) non-profit D) social E) traditional
D
Under a ________ new product development approach, company departments work closely together in cross-functional groups, overlapping the steps in the product development process to save time and increase effectiveness. A) cross-sectional B) simultaneous C) sequential D) team-based E) systematic
D
When an effective program can be designed for attracting and serving a chosen segment, the segment is best described as ________. A) accessible B) measurable C) reachable D) actionable E) differentiable
D
When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________. A) pushing one-way commercials at customers B) identifying and targeting late adopters C) developing print and radio advertisements D) generating person-to-person brand conversations E) withdrawing from online social networks
D
Which of the following includes the target segment of a product, the category to which the product belongs, and the product's point of difference from other members in the category? A) mission statement B) vision statement C) profit statement D) positioning statement E) inventory statement
D
Which of the following is a desirable quality for a brand name? A) The name should be unique and difficult to pronounce to ensure legal protection. B) The name should be a common word rather than a distinctive one. C) The name should not suggest anything about the product quality. D) The name should translate easily into foreign languages. E) The name should not be extendable.
D
Which of the following is a disadvantage of a team-based approach to new product development? A) It lengthens the time required to get the right products to market. B) It involves the use of a rigid, sequential product development approach. C) A bottleneck at one place can seriously hinder the entire project. D) Organizational confusion and tension are likely to affect the process. E) The process is highly ineffective for products with short life cycles.
D
Which of the following is an example of a shopping product? A) toothpaste B) fast food C) laundry detergent D) television E) candy
D
Which of the following is most likely a true statement about services? A) Services can be stored for later sale or use. B) Service quality is not dependent on the provider. C) Services can be easily separated from their providers. D) Service industries vary greatly. E) Demand fluctuation has little to no impact on service providers.
D
Which of the following is true of product positioning? A) A product's position is defined by the number of competitors in a market. B) Product positioning has little influence on the design of marketing mixes. C) Consumers generally reevaluate products every time they make a buying decision. D) To simplify the buying process, consumers are likely to position products in their minds. E) Consumers cannot position products with or without the help of marketers.
D
Which of the following needs in Maslow's hierarchy is generally satisfied last? A) physiological B) social C) esteem D) self-actualization E) safety
D
Which of the following statements is most likely true about the product life cycle? A) Throughout the product introduction stage, sales are zero. B) The growth stage is the longest stage of the product life cycle. C) Profits are nonexistent in the growth stage. D) Growth is a period of rapid market acceptance and increasing profits. E) Maturity is the period when sales fall off but profits continue to rise.
D
Which of the following terms best describes the process of designing and producing a container or wrapper for a product? A) labeling B) positioning C) licensing D) packaging E) branding
D
Which statement is most likely true about idea generation in the new product development process? A) Idea generation is most effective when it occurs after idea screening. B) Most companies set a limit for the number of ideas generated to simplify the process. C) Intrapreneurial programs enable customers to contribute to the idea generation process. D) Idea generation is usually followed by procedures that reduce the total number of ideas. E) A company can either develop ideas through internal or external sources but not through both.
D
Xenon, a leading consumer-electronics manufacturing company, markets its products under the company's own brand name. In this case, Xenon has sponsored its products by promoting them as ________ brands. A) licensed B) private C) store D) national E) distributor
D
________ are the most affluent and brand conscious demographic segment in the United States. A) Hispanic Americans B) Native Americans C) Pacific Islanders D) Asian Americans E) African Americans
D
________ are tradition-bound, suspicious of changes, and adopt an innovation only when it has become something of a tradition itself. A) Latent innovators B) Early adopters C) Early mainstream adopters D) Lagging adopters E) Late mainstream adopters
D
________ involves using an existing brand name for a new product category. A) Line extension B) Co-branding C) New branding D) Brand extension E) Multibranding
D
________ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying and consolidating separate products and services from several suppliers. A) Modified rebuy B) Straight rebuy C) New task buying D) Systems selling E) Supplier development
D
________ is the degree to which an innovation fits the values and experiences of potential consumers. A) Relative advantage B) Divisibility C) Complexity D) Compatibility E) Communicability
D
________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world. A) Retention B) Motivation C) Selective perception D) Perception E) Learning
D
________ is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior. A) Differentiation B) Mass marketing C) Market targeting D) Market segmentation E) Positioning
D
________ marketing tailors brands and promotions to the needs and wants of specific cities, neighborhoods, and even stores. A) Differentiated B) Mass C) Niche D) Local E) Individual
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) Capital 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) Capital C) Unsought D) Shopping E) Secondary
D
A ________ 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) patent E) brand
E
A company's external sources of new product ideas include its ________. A) managers B) salespeople C) engineers D) manufacturing staff E) suppliers
E
A doctor performing hip surgery on a patient illustrates how a service can be produced and consumed simultaneously. This is an example of which service characteristic? A) tangibility B) intangibility C) perishability D) variability E) inseparability
E
A product line is most likely too short if managers 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) ________ reflects the general esteem given to the different roles of a person by society. A) motive B) attitude C) belief D) tradition E) status
E
According to Maslow's hierarchy of needs, which of the following is most likely an esteem need? A) love B) security C) hunger D) self-development E) status
E
Bass Pro Shops recognizes that outdoors enthusiasts are a diverse group. Likely segments include hunters, campers, and boaters. What is this segmentation method called? A) user status B) usage rate C) benefit D) behavioral E) psychographic
E
BerryBerry is a fruit juice company that has traditionally sold three varieties of mixed-fruit juices: DazzleBerry, AquaBerry, and GloBerry. The company wants to add more products to its product line. In this case, which of the following is an example of co-branding by BerryBerry? A) The company introduces BerryBliss, a dried berry snack mix for kids. B) BerryBerry adds a new fruit juice flavor, TangyBerry. C) The company introduces a line of flavored milk and yogurt under a new brand name. D) The company creates a new brand, NatureFresh, for a line of cosmetics based on fruit flavors and colors. E) BerryBerry teams up with SFX, a sporting goods company, to introduce a line of energy bars called BerryBerry SFX.
E
Bose promises "better sound through research." This is an example of ________. A) people differentiation B) channel differentiation C) price differentiation D) services differentiation E) product differentiation
E
Brands vary in the amount of power and value they hold in the marketplace. Iconic brands like Apple, Google, and Harley-Davidson have achieved substantial brand ________. A) capital B) personality C) perception D) esteem E) equity
E
Companies like 3M, Google, and Sony have ________ that encourage employees to develop new ideas. A) trade magazines B) marketing research firms C) government agencies D) competitor's ads E) intrapreneurial programs
E
Denta Clean's decision to add a whitening toothpaste to its current line of toothpastes is an example of product line ________. A) stretching B) widening C) strengthening D) mixing E) filling
E
GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle headlamps and brake lights. After searching trade directories, GenX invites five different suppliers to make formal presentations about how their solutions can create greater value for GenX than competing solutions. GenX is currently in the ________ stage of the business buying decision process. A) problem recognition B) general need description C) product specification D) supplier search E) proposal solicitation
E
In which of the following cases is little or no test marketing most likely recommended for a new product? A) when the product requires a major investment B) when management is unsure of the projected demand for the product C) when the risks associated with introducing the product are high D) when management is unsure of the marketing program for the product E) when the costs of developing and introducing the product are low
E
Jeff is in the process of buying a new car. He carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of his favorite models. He rates the models on each factor and ranks them in the order of his preference. To which of the following stages of the buyer decision process will Jeff most likely proceed next? A) post purchase behavior B) evaluation of alternatives C) information search D) need recognition E) purchase decision
E
Marque, a high-end maker of designer watches, has started making inexpensive watches to take advantage of enormous growth rates in low-end market segments. Marque is most likely engaging in ________. A) franchising B) line filling C) two-way stretching D) upward stretching E) downward stretching
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 application easier. Which of the following is a core customer 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 desire for having beautiful eyes
E
Simone bought two bottles of wine from two vineyards in Bordeaux. When asked for an opinion on the quality of the wines, she later mentioned that the Pontet Canet tasted like alcoholic grape juice, but the Chateau Margaux had a crisp taste that she really enjoyed. Which of the following stages of the buyer decision process do Simone's remarks reflect? A) information search B) situational analysis C) evaluation of alternatives D) purchase decision E) post purchase behavior
E
Unlike other car rental agencies that are based in airports to serve travelers, Rental Wheelz has a network of neighborhood offices. The firm strives to serve people who need car rentals for reasons other than vacation, such as when their own cars are being repaired. Rental Wheelz caters to a small share of the large car rental market. From this description, it can be concluded that Rental Wheelz most likely practices ________. A) undifferentiated marketing B) multi-segmented marketing C) individual marketing D) local marketing E) concentrated marketing
E
Which link in the service profit chain emphasizes superior employee selection and training? A) healthy service profits and growth B) satisfied and loyal customers C) greater service value D) satisfied and productive service employees E) internal service quality
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 is most likely the final stage of the business buying decision process? A) problem recognition B) product specification C) proposal solicitation D) order-routine specification E) supplier performance review
E
Which of the following is the means by which companies post purchase requests online and invite suppliers to bid for their business? A) extranet links B) intranet connections C) trading exchanges D) traditional procurement E) reverse auctions
E
Which of the following is true about the introduction stage of a new product? A) Profits are typically high. B) Promotion spending is relatively low. C) Less money is needed to attract distributors. D) Companies tend to avoid basic versions of the product. E) Sales growth tends to be slow.
E
Which of the following is true of the growth stage of the product life cycle? A) New competitors avoid the market. B) Prices tend to increase significantly. C) Early adopters stop buying the product. D) Profits are nonexistent at this stage. E) Sales start climbing quickly.
E
Which of the following statements is most likely true about the new product development process? A) The first step in developing a new product involves determining any budgetary or distribution limitations. B) Most firms discourage employees from contributing new product ideas because of legal concerns. C) In most cases, concept testing is followed by concept development. D) A product concept should be developed for each idea before it goes through idea screening. E) Customers, competitors, distributors, and suppliers are major sources of new product ideas.
E
Which statement about convenience products is most likely true? A) They are distributed exclusively in only one or a few outlets per market area. B) They are products that consumers rarely consider buying. C) Luxury cars and designer clothes are examples of convenience products. D) Consumers need to make special purchasing efforts to buy such products. E) They are bought by consumers frequently and with minimal comparison.
E
________ is the degree to which the results of using an innovation can be observed or described to others. A) Relative advantage B) Compatibility C) Complexity D) Divisibility E) Communicability
E
________ products are consumer products and services with unique characteristics or brand identifications for which a significant group of buyers is willing to make more effort than usual to purchase. A) Unsought B) Obsolete C) Intangible D) Convenience E) Specialty
E