Marketing Test #1
When a product is in the decline stage of the PLC, a company may reduce various costs (plant and equipment, maintenance, R&D, advertising, sales force), hoping that sales hold up. In other words, they are ________ the product.
Harvesting
_______ is NOT a characteristic important in influencing an innovation's rate of adoption.
Motivation
_________ refers to the degree to which innovation appears superior to existing products.
Relative advantage
Which of the following statements is true regarding managing service quality?
Unlike product quality service quality will always vary
(CHAPTER 7) The quality of services depends on who provides them as well as when, where, and how they are provided. Which characteristic of services does this describe?
Variability
The website leftyslefthand.com markets products to left-handed consumers only. Which targeting strategy does thisrepresent?
Concentrated marketing
Byron Tied 2 Bowties groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Byron Tied 2 Bowties creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its market?
Geography
__________ show consumer perceptions of their brands versus those of competing products on important buying dimensions.
Perceptual positioning maps
When Dr. Lawncare developed his revolutionary new solar powered lawnmower, he knew that during the introductory stage of the product lifecycle ___________.
Sales would be slow and profits non existent
In a _________, the business-to-business buyer reorders something without modifications.
Straight rebuy
When a company lengthens a product line by adding more items beyond its current range, they are ________.
Stretching the line
What determines if a buyer is satisfied or dissatisfied with a purchase?
The relationship between the consumers expectations and the products perceived performance
Goldtone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Goldtone is using ________ to generate new product ideas.
Crowdsourcing
Consumers can obtain information from any of several sources. Which source is the most effective in that they legitimize the product?
Personal Sources
Your local pizzeria promises "Delivery in 30 minutes or less or the pizza is free." What point of differentiation is this?
services differentiation
_____________ is the first stage in the new product adoption process.
Awareness (Adoption is last)
Which of the following is NOT a product life cycle (PLC) stage?
Commercialization
Which of the five characteristics identified in the text has an inverse relationship with an innovation's rate of adoption? As this characteristic increases, the rate of adoption is slower.
Complexity
The value of customer relationships that a brand creates is called _______.
Customer equity
Which of the following types of marketing involves creating opinion leaders to serve as brand ambassadors to spread the word about a company's products?
Buzz marketing
Which type of consumer products are frequently purchased with little planning, little comparison or shopping effort, and low customerinvolvement?
Convenience Products
(CHAPTER 6) Which type of market segmentation has long been used in clothing, cosmetics, toiletries, and magazines?
Gender
The Learning Institute recently conducted a brainstorming session that generated a large number of ideas for adding new products and services. Learning Institute managers will most likely use ________ next to arrive at a realistic number of ideas to adopt
Idea Screening
When manufacturers launch products using their own brand names, which sponsorship option are they using?-
National Branding
What is the first step of the buyer decision process?
Need recognition
(CHAPTER 5) Which of the following lists the five steps of the buyer decision process in the correct order?
Need recognition, information search, evaluation of alternatives, purchase decision, and postpurchase behavior
Most products are at which stage of their product lifecycle?
Maturity
Which of the following statements is correct concerning service marketers going global?
The trend toward growth of global service companies is expected to continue in the near future
To create successful new products, a company must _______.
Understand its consumers, markets, and competitors and develop products that deliver superior value
Materials and parts, capital items, and supplies and services are groups of _____ products.
Industrial
Which of the following statements about new product development strategy is correct?
Innovation can be very expensive and very risky
Service _______ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.
Intangibility
A company launching a new product at the commercialization stage of new product development must first decide on___________.
Introduction timing
Which of the following needs in Maslow's hierarchy is generally satisfied first?
Physiological needs
To be more socially responsible, some companies are appointing _____________. Their job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems.
Product stewards
A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among the fans. From the fans' viewpoint, the housewives reality show is a(n) _____.
Reference group
In which type of buying situation will a buyer usually go through all the stages of the business buying process?
A new task buying situation
Kroger sponsors such brands as Private Selection, Heritage Farm, and Simple Truth. Kroger does not manufacture any of these products. Which type of brand sponsorship is Kroger using?
A private brand
Which of the following correctly defines a product?
A product is anything offered to a market that might satisfy a need or want
_________ refers to the practice of including ethnic themes and cross-cultural practices within a company's mainstream.
A total market strategy
____ segmentation calls for dividing the market into different nations, regions, states, counties, cities, or even neighborhoods.
geographic
Many marketers think that companies should aggressively promote only one benefit to the target market. The benefit promoted is known as a(n) ________.
unique selling proposition
When Doritos comes out with new flavors of its tortilla chips, what brand development strategy does it employ?
line extension
Grocers in neighborhoods with a large Hispanic population typically carry more brands that Hispanic consumers prefer than grocers in other neighborhoods. This is an example of ________.
local marketing
Toyota allows Scion buyers to customize their cars to meet their exact needs and preferences. This is an example of____________.
micromarketing
Firms that manufacture seasonal products target their consumers primarily through ________ segmentation.
occasion
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
positioning
If competitors cannot easily copy the benefit a company chooses to promote, that benefit is said to be _________.
preemptive
At one time, Miller Beer was known as the "champagne of bottled beer." It was targeted at an elite class of customers.Later, to increase sales, Miller was repositioned to attract members of the working, middle-class. What is this segmentation method called?
psychographic
Dividing buyers into groups based on social class, lifestyle, or personality characteristics is called ________ segmentation
psychographic
The marketing manager at Arbor's Delicatessen 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. Arbors' approach is best referred to as ________ segmentation
psychographic
Which of the following is a variable used to segment consumer buyers that is not used to segment business buyers?
psychographics
When Coca-Cola saw the growth of the bottled water category, they launched Dasani, its brand of bottled water. Which brand development strategy did Coca-Cola use in launching Disani?
New Brand
Which of the following is a pure tangible good?
Toothpaste
Which of the following is an external source of new product ideas for a company?
Trade Magazines
Kidcomp, an American computer-manufacturing firm, targets children below the age of ten by providing free games and applications. The firm's marketing approach is reflective of ________ segmentation.
age and lifestyle segmentation
Marketers must be careful to guard against stereotypes when using ________.
age and lifestyle segmentation
Heeltoe, a boutique that caters to the footwear needs of women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on ________ variables.
demographic
Identifying, describing and promoting the product are three functions of ______.
labeling
One problem with business-to-business e-procurement is that it _______.
Can erode long standing customer supplier relationships
Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial products?
Children
After ideas are screened, the next stage of the new product development process is _____.
Concept development and testing
Intuit follows a "Design for Delight (D4D)" development philosophy that products should delight customers by providing experiences that exceed expectations. Which new product development approach is Intuit using?
Customer-centered new product development
What is the nature of demand in business markets?
Demand in business markets is derived demand
H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward middle-income consumer groups. H2Coast most likely segments the consumer market based on ________ variables.
Demographic
When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________.
Generating person-to-person brand conversions
Sales are rising rapidly, competitors are growing in number and the customers are early adopters. Which stage of the PLC does this describe?
Growth
(CHAPTER 8) At which stage of the new product development process is crowdsourcing used?
Idea Generation
A company can differentiate itself from competitors using symbols such as McDonald's golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this?
Image differentiation
Age, personality, buying style, and job position are ________ factors that can influence the business buying decision process
Individual
Service marketing requires ________. This means that the service firm must orient and motivate its customer-contact employees and supporting service people to work as a team to provide customer satisfaction
Internal Marketing
This adopter group is skeptical and only adopts new products after a majority of people has tried it
Late mainstream
In determining product quality, what are the two dimensions of quality marketers must decide upon?
Level and Consistency
When we see Hello Kitty on children's clothing, Disney characters on lunchboxes, and Sponge Bob Squarepants on breakfastcereals, which form of brand sponsorship is being used?
Licensing
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases
Involves dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies.
Market segmenting
Which of the following statements is true regarding product life cycle curves?
Marketers do not know the exact shape and length of their product's life cycle in advance
Which of the following statements concerning new products is correct?
Modified and improved products are considered new
Which of the following would be an appropriate strategy during the maturity stage of the product lifecycle?
Modify the market, product offering and marketing mix
Which of the following would make a segment less attractive to enter?
New entrants finding it easy to enter the segment
Which of the following is a personal factor that influences a consumer's buying behavior?
Occupation
Items such as technical specifications, quantity, delivery time, return policies and warranties are included in the____________.
Order routine specification
Which of the following statements is true regarding packaging?
Packaging can be an important part of a brands identity
For which service characteristic do marketers need to pay close attention to fluctuations in demand?
Perishability
Which of the following statements regarding the important decisions in the development and marketing of individual products iscorrect?
Product attributes that communicate and deliver benefits to the consumer include quality features and style and design.
At which stage of the new product development process is a physical product first developed?
Product development
If a company adds a new product line to its existing portfolio, it has increased its _________.
Product mix width
Which brand dimension is defined as how consumers feel a brand meets their needs?
Relevance
Which of the following is a social factor that influences consumer buying behavior?
Roles and Status
Which of the following statements is true regarding standardizing products for international markets?
Standardization decreases product design, manufacturing, and marketing costs
Installing an innovation management system to collect, review, evaluate, and manage new product ideas represents a(n) ______________ approach to new product development.
Systematic
According to the model of buyer behavior, what is in a buyer's black box?
The buyers characteristics and the buyers decision process
Nailit Cosmetics is advertising its newest line of nail polishes. Nailit is selling the products in specially designed bottles that make application easier, made from a non-toxic, water-based nail polish with amazing summer colors. Which of the following is a core customer value for Nailit's line of polishes?
The desire to have beautiful nails
Which of the following statements regarding socially responsible product decisions is correct?
The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition
Which of the following statements about service marketing is correct?
Training current employees better and hiring new ones with more skills can increase service productivity
Which of the following is considered part of an augmented product rather than that of an actual product or core customer value?
Warranty
If a segment is large enough or profitable enough to serve, it is _______.
substantial
All the people involved in the buying decision in an organization are collectively known as _______.
the buying center
Through _____ a company can obtain new products by buying a whole company, a patent, or a license to produce someone else's product.
Acquisition
In the early 1970's, Gary Dahl sold pet rocks. The product had a short, temporary period of unusually high sales driven by consumer enthusiasm and immediate product popularity, but then sales declined very quickly. The PLC sales pattern for pet rocks is known as ______.
A fad