Marketing Exam 2
__________ occurs when two established brand names of different companies are used on the same product.
Co-branding
Introducing a new product into the market is called __________.
Commercialization
Which of the following sets the upper limit for a product's pricing?
Consumer perceptions to value
Laundry detergent, candy, magazines, and fast food are purchase frequently by sutomers. They are examples of _____ products.
Convenience
A company ading new features to a product will most likely assess each feature's value to customers realtive to its ________.
Cost to the company
Lovely Skin is establishing a pricing strategy for a new moisturizer. The total cost to produce each unit is $3.50. The company has decided to add a $1.50 markup, so the unit price to distributors will be $5. Lovely Skin is using a __________ approach to price the new moisturizer.
Cost-plus
Kallton is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its Website that customerss can suggest ideas for its upcoming product model. contributors of short-listed ideas will be adequately rewarded. In this case, Kalton is using _______ to generate new product ideas.
Crowdsourcing
Compared with undifferentiated marketing, differentiated marketin gi smore likely to lead to _________.
Higher costs of doing business
Under ____________, the market consists of a few large sellers who are lighly senstitive to each other's pricing and marketing strategies.
Oilgopolisitc competition
Which of the following terms best describes the process of designing and producing a container or wrapper for a product?
Packaging
As a result of ________, a company cannot make its product illegally similar to a competitor's already established product.
Patent laws
Service variability means that ________.
Service quality depends on when, where, and how are they provided.
_________ refers to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.
Services
Using _______, researchers measure consumer responses to new products and marketing tactics in laboratory stores or virtual online shopping environments.
Simulated test markets
The use of traditional business marketing concepts and tools to create behaviors that will benefit individual and societal well-being is called ________ marketing.
Social
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 decor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n) ________.
Specialty product
_________ is the stage where a product and its proposed marketing program are introduced into realistic market settings.
Test marketing
Which of the following conditions is most likely essential for implementing a successful market-penetration pricing strategy for a product?
The market for the product is higly price sensitive
If men and women respond dissimilarly to the marketing efforts for a root beer-flavored malt beverage, they are considered __________ market segments.
Differentiable
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 __________.
Fad
Rent, electricity, and executive salaries that do not vary with production or sales level are referred to as ______ costs.
Fixed
Establishing prices for razor blades that must be used with a razor blade system is known as ___________ pricing.
Captive-product
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 core customer value
Which group is most likely offered functional discounts by manufacturers?
A trade-channel members that perform sales tasks
When an effective program can be designed for attracting and serving a chosen segment, the segment is best described as __________.
Actionable
When a manufacturer offers a ________, a customer buys a product frm a manufacturer's dealer within a specified time period, and the manufacturer then sends the customer a check.
Cash rebate
Sleek Designs Inc. is producing its first eReader. The company is striving to overcome some of the issues communciated by customers about completitive products including screen glare and product bulkiness. Sleek Designs Inc. is using a __________ approach in their new product development process.
Customer-centered
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.
Decline
The relationship between the price charged for a product and the resulting deman level can be shown in a(n) _______.
Deman curve
Harry's caters to the calothing 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, meedle-aged men, and the other line targets tounger, up-and-coming professionals. Harry's most likely segments the consumer market based on _______ variables.
Demographic
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 Unlimitied product development team will most likely use __________ next to arrive at a realistic number of products for the new fatigues line.
Idea screening
A product line is most likely too short if managers can _______.
Incerase profits by adding items
When demand hardly changes with a small change in the price of a product, the deman for the product is best described as ______.
Inelastic
A doctor performing hip surgery on a patient illustrates how a service van be produced and consumed simultaneously. This is an example of which service characteristic?
Inseparability.
Orienting and motivating customer-contact employees and supporting service people to work as a team provide customer satisfaction is known as ___________ marketing.
Internal
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?
Introduction
_____________ marketing tailors brands and promotions to the needs and wants of specific cities, neighborhoods, and even stores.
Local
_______ is the process of dividing a market into distinct groups of buyers who have different needs, characterstics, or behavior.
Market segmentation
The first generation Apple iPod was introduced in 2001 and sold for $550. The following year a mini version was introduced for $250. Apple initially used a __________ strategy to price their digital music innovation.
Market-skimming
Posh Collections introduced a new watch to appeal to upscale consumers. The company will most likely use a(n) _________ pricing.
Market-skimming pricing
____________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable palce relative to competing products in the minds of target consumers.
Positioning
Salon Du Jour offers special comination packages at a reduced price. Separately, a haircut is $30 and a conditioning treatment is $35. But the combo price is $50. This is referred to as __________ pricing.
Product bundle
Which of the following sets the lower limits for a product's pricing?
Product costs
In a sequential new product development process, which of the following is true of the product development step?
Product development is usually followed by test marketing
Bose promises "better sound through research". This is an example of ________.
Product differentiation
When Nabisco offers to cover half the cost of all local advertising for supermarkets that sell Oreo Cookies, the company is granting _________.
Promotional allowances
_______ segmentation factors divide buyers into different groups based on social class, lifestyle, or personality characteristics.
Psychographic
In _________, the market consists of many buyers and sellers trading in a uniform commodity, such as wheat, copper, or financial securities.
Pure competition
__________ prices are carried in buyers' minds and used when looking at a given product.
Reference
Which of the following is true of the growth stage of the product life cycle?
Sales start climbing quickly
The National Tree Company offers resellers half-price reductions on artificial Christmas trees if they purchase them in July. This is an example of _______.
Seasonal discount
Which of the following is true of perceptual positioning maps?
They are used to analyze consumer perceptions of a brand relative to competing products.
Movie theaters charge matinee pricing during the daytime, and resorts give weekend and seasonal discounts. This is illustrative of a _________ pricing strategy.
Time-based
Which of the following is an approach where firms target a whole market based on common consumer needs?
Undifferentiated marketing
Consumer products that the buyer either does not know about or knows about but does not normally consider buying are referred to as ______ product.
Unsought
Shampoo marketers segment buyer as light, medium, or heavy product users. This is an example of _________ segmentation.
Usage rate
A product is in the maturity stage of the product life cycle, and the pant decides to modift the marketing mix. Which of the following steps is the company most likely to take?
Use aggressive sales promotions
Providing extra amenities to differentiate and support high-priced products is referred to as _________ pricing.
Value-added
A _____________ pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target price is set based on customer perceptions of worth.
Value-based
Consistency of a product mix refers to the _________.
Ways in which various product lines are related.