MKT exam 2. (ch. 5-9)

__________ reporesent an internal source of new product ideas for a company

intrapeneurial program

new product commercialization take much thought and timing. the first critical step in the commercialization process is the _______?

introduction timing

when a product is in the maturity stage of the PLC, the company tries to increase comsumptio n by finding new users & new market segments for its brands. & __________ is the attempt to increase consumption

modifying the market

_______ is one major objective associated with a market- penetration pricing strategy

winning large market shares

​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

________ is true about pricing

price competition is a core element of our free-market economy

___________ is considered part of an augmented product rather than that of an actual product or core customer value??

warranty

UPS uses _______, which charges different prices for shipping depending on an items destination. the more distant the city where the packages are being shipped, the higher the price UPS charges

zone pricing

___________ is a type of consumer product thats frequently purchased with little planning, little comparision or shopping effort, & low customer involvement?

convenience products

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

what is the nature of demand in busness markets?

demand in a business is a derived demand

Nailit Cosmetics is advertising its newest line of nail​ polishes, made from a​ nontoxic, water-based nail polish with amazing summer colors. Nailit is selling the products in specially designed bottles that make application easier. Which of the following is a core customer value for​ Nailit's line of​ polishes?

desire to have beautiful nails

________ segments are those that conceptually distinguishable & respond differently to different marketing mix elements & programs

differentiable

_________ is a characterisitc important influencing an innovations rate of adoption & described by the degree to which the innovation may be treied on a limited basis

divisibility

continually adjusting prices to meet the characteristics & needs of individual customers & sistuations is known as ________?

dynamic pricing

groups of _________ products consist of materials & parts, capital items & suppliees & services

industrial

___________ is a true statement about new product development strategy

innovation can be vary expensive & very risky

_________ is a true statement that regards packaging

innovative packaging can give a company an advantage over competitors & boost sales

Mi Rancho Supermarkets is a chain grocer that locates stores in neighborhoods with large Hispanic populations. Their stores carry a greater selection of Hispanic and Latin foods. The type of marketing that Mi Rancho uses is an example of​ ________.

micro-marketing

when a subaru of america allows outback buyers to customize carss to meet their exact needs & performances, it is practicing ________ marketing?

micro-marketing

_____ is a true statement thats about concerning new products

modified & imporved products are considered new

______________ describes the process of arranging for a market offering to occupy a clear, distinctive, & desirable place relative to competing products in the minds of target consumers?

positioning

if competitord CANNOT easily copy the benefit of a company chooses to promote, the benefit is sadi to be ????

preemptive

when apple introduced its Iphone X, it priced the new product at nearly $1,000, considerably higher than competing smart phones. Apple was pursuring a ________ new product pricing strategy

premium pricing

​Kroger, headquartered in​ Cincinnati, Ohio, is one of the​ nation's largest grocery chains. It owns several brands sold in its​ stores, including Private​ Selection, Heritage​ Farm, and Simple. These brands represent which type of brand​ sponsorship?

private brands

_____________ is a statement that regards the important decisions in the development & marketing of individual products

product attritutes that communicate & deliver benefits to the consumer include quality, features, & style and design

bath & body works uses _______ pricing when the company offers "three-fer) deals on its products (aka: soaps, lotations, & moisturizers)

product bundle pricing

________ is the step of a new product development process during which a physical product is first developed??/

product development

the ford mustage is offered in several different models. Ford uses _______ pricing to determine the price steps between the different models??

product line pricing

________ protect consumers from harm & the company from liability by proactively ferreting out potential product problems

product stewards

internal factors that affect pricing include_________

the companys overall marketing strategy, objectives, & marketing mix

_________ is a true statement regarding socially responsible product decisions??

the govement may prevent companues from adding products through acquisitions if the effect threatens to decrease competition

​New, premium movie theaters offer features such as online reserved​ seating, high-backed leather executive chairs with armrests and​ footrests, the latest in digital​ sound, super-wide​ screens, and other amenities for which they charge a higher price. This is an example of which type of​ pricing?

value- added pricing

the quality of services depends on who provides them as well as when, where, and how they are provided. the characterisitc of service describes _________?

variability

five steps of the buyer process in the correct order?

1.) need recognition 2.) information search 3.) evaluation of alternatives 4.) purcahse decisions 5.) post-purchase decision

________ incorporates the advantage of brands operating in different categories with the combined brands creating broader consumer appeal & greater brand equity??

CO- branding

a company can obtain new products by buying a whole company, a patent, or a license to produce someone elses product through ________?_

acquisition

​Kidcomp, an American​ computer-manufacturing firm, targets children younger than age 10 by providing free games and applications. The​ firm's marketing approach is reflective of​ ________ segmentation.

age and life- cycle

what defines a product??

anything offered to a market that might satisfy a need or a want

_________ describes the process of dividing markets into segments based on sonsumers knowlegde, attitides, uses & responses?

behavioral segments

after market strategy is developed, the next step of a new product development process is __________

business analysis

Gillette charges a fairly low price for its razors (relative to cost) and. higher price for razor blade, it uses the strategy of _______ pricing

captive product pricing

socially responible target marketing would classify ________ as an especially vulnerable target market for harmful or controversial products?

childern

________ is NOT a social factor influencing consumer behavior?

cognitive dissonncee

______ is NOT a product life cycle (PLC) stage??

commercialization

consumers obtain information from numberous sources. _________ involves dealer & manufacturer websites, packages, and displays?

commerical sources

______ refers to the degree to which an innovation fits the values & expereinces of potential consumers?

compatibility

of the give characteristics, __________ is identified & has an inverse relationship with an in novations rate of adoption, meaning as this characteristic increases, the rate of adoption is slower?

complexity

the target strategy ___________ represnts the website leftylefthand.com markets products to left-handed consumers only.

concentrated marketing

________ is likely to slow the adoption of a new technology?

conceptual complexity

________ is the value of customer relationship that a brand creates

customer equity

standardizing prodict for international markets cause _______

decreases in the - product design, - manufacturers, & in marketing cost

Ad agency Young​ & Rubicam's BrandAsset Valuator measures brand strength along four consumer perception dimensions. Brand​ ___________ is defined in terms of how highly consumers regard and respect the brand.

esteem

In the early​ 1970s, 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​ ________________.

fad

when sellers set prices in conjunction or collaboration with one another, this illegal practice is ________?

fixed-pricing

When marketers want to promote their products and services through​ word-of-mouth marketing​ programs, they typically begin by​ ________.

generating person -to - person brand conversations

Munoz Specialty Foods groups its customers by regions in the United​ States, such as​ Midwest, Northeast, and Southwest. For each​ region, Munoz creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its​ market?

geographic

sadies restaurant has listened to its customers over the years & now is able to offer the right combination of quality & good service at a fair price??? _____ is the pricing strategy sadie is using ?

good-value pricing

if the company has selected it target market & positioning carefuly, the its marketing mix strategy, including price, will be faily straightforward. & _______ is NOT one of the common pricing objectives

grabbing international market share

__________ would make a segment less attractive to enter???

having new entrants finding it easy to enter the segment

crowdsourcing is used in the ________ step of a new product development process

idea generation

________ is true regarding the Price-Demand relationship

if demand is elastic, then sellers will consider lowering prices

when or if ever, is price discrimmination allow??

if the seller can prove that its cost are different when selling to different reatilers, then it is legal

The​ Ritz-Carlton has carefully created a strong and distinctive differentiation​ strategy, which is supported by everything the company​ says, is, and does. Which type of differentiation is​ this?

image differentiation

__________ is NOT one of the typical advantages of E- procurement systems?

improving customer supplier relationships

adding a new product line to an existing portfolio means that the line has _______

increased product mix width

rishika has been invited to a fancy dinner party & wants to bring a good bottle of wine as a gift for the host. since she does not know much about wine. she will liekly use the price of wine as a __________/

indicator of quality

the type of segmentation that forms segments of consumers who have similar needs & biying behaviors even though theuy are located in different countries is knows as????

intermarket segmentation

a service firm must orient & motivate its customer- contact emplpyees & supporting service people to work as a team to provide customer satisfaction known as _______

internal marketing

three functons of __________ include: 1.) identifying, 2.) describiing, 3.) promoting the product

labeling

_________ are tradition-bound, suspicious of changes, & adopt the innovation ONLY when it has become something of a tradition itself?

lagging adopters

in determining a product quality, ___________ are the dimensions of quality marketers must decide upon???

level & consistency

When we see Hello Kitty on​ children's clothing, Disney characters on​ lunchboxes, and SpongeBob SquarePants on breakfast​ cereals, which form of brand sponsorship is being​ used?

licensing

when doritos comes out with a new flavor of its tortilla chips, & it is the _________ brand development strategy

line extension

when a college or university charges more for out of state students than in state students, it is practicing ________?

location based pricing

the statement _____________ is correct regaruding the business market??

many sets of business purchases are made for ONE set of consumer purchases

dividing a marketing into smaller segments of buyers with disinst needs or behaviors that might require separate marketing systems is called _______?

market segmenting

a company has a set low price on a new product it introduced. it wants to maximizw its market share & attract a large number of buyers quickly. the company should use the __________ product pricing strategy?

market-penetration pricing

in _______ stage of product life cycle, it normally last longer than the others & poses great challenges to marketing management??

maturity

the ________ stage of PLC is characterized by peak sales, low cost per customer, high profits, mainstream adopters, & a stable number of competitors that are beginning to decline?

maturity

the type of segment characteristic in which the size, purchasing power, and profiles of the segments can be quantified as ________

measurable

_______ is the first step of the buyers decision process?

need recognition

When​ Coca-Cola saw the growth of the​ bottled-water category, it launched DASANI​Ò​, its brand of bottled water. Which brand development strategy did​ Coca-Cola use in launching​ DASANI?

new brand

firms that manufacture seasonal products target their consumers primarly through _______?

occassion segmentation

_______ is a personal characteristic influencing a consumers buying behavior?

occupation

_____________ is a varaible used to segment business buyers that is NOT used to se gment consumer buyers

operating characteristics

marketers of brands understand that they must figure out how to reach __________ that can exert social influence on others.

opinion leaders

car buyer can choose a base model at one price, or one with a premium sound & navigation system at a higher price. this is an example of ______ pricing

optional propduct pricing

A manufacturer of​ half-ton pickup trucks creates a positioning map for the U.S.​ half-ton pickup market. The position of each circle on the map indicates the​ brand's perceived positioning on two​ dimensions: price and orientation​ (economy versus​ performance). The size of each circle indicates the​ brand's relative market share. This is an example of a​ ________________.

perceptual positioning map

___________ is the service characterisitc which marketrs need to pay close attention when there are fluctuations in demand??

perishability

what need in Maslow's Hierarchy is generally satitsfied first?

physiological needs

the illegal practice of _________ is selling below price with the intention of punishing a competitor or gaining higher long-run profits by putting competitors out of business

predatory pricing

the Robinson- Patman Act seeks to ensure that sellers offer the same price items to customers at a given level of trade to prevent ______?

price discrimmination

the business buyng process can be complex & complicated with eight basic stages. & _________ is the first stage in the business buying process?

problem recognition

when a retailer temporarily prices a few select items below cost to create excitement & pull consumers into the store, its practicing ________ pricing??/

promotional pricing

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

The marketing manager at Only Organic Delicatessen targets customers who are focused on​ organic, healthy food choices but who still want to dine out. The restaurant chain offers a wide variety of​ organic, low-fat, locally raised produce and foods. Only​ Organic's approach is best referred to as​ ________ segmentation.

psychographic

​H2Coast, an automobile​ manufacturer, produces​ fuel-efficient hybrid vehicles that are targeted toward​ high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on​ ________ variables.

psychographic

dividing buyers into groups based on social class, lifestyle, or personality characterics is called???

psychographic segmentation

a pruse comanys ads feature the memebers of a popular housewives show. product sales increase significantly among fans. from fans viewpoint, the housewives reality show is a ________?

reference group

___________ determines if a biyer is satisfied or dissatisfied with a purchase?

relationship btw the consumers experience & the products perceived performance

________ statement is true regarding the product life cycle curves?

sales of a typical product follow an S=shaped curve made up of five stages

amazon is now promising same-day pick-up of goods as well as local secure pick-up points. and this point is ___________ differentiation?

services differentiation

____________ would be a appropiate strategy during the growth stage of the product life cycle??

spending a lot of money on product imporvement, promotion & distribution

______ is a true statement regarding standardizing products for international markets???

stardardization decreases product design, manufacturing, & marketeting cost

when a company lengthens a product line by adding more items beyond its current range it is __________

stretching the line

_______ is one problem with busines - to business E procurement?/

suppliers being pitted against one another

____________ is often considered a key business marketing strategy for winning & holding accounts?

system selling

installimng an innovation management system to collect, review, evaulate & manage new product ideas represents ______ new product development

systematic

____________ reverses the usual process of first designing a new product, determing its cost, and then asking "Can we sell it for that?"

target costing

variation of break- even pricing is __________, which uses the concept of break-even chart that shows the total cost & total revenue expected at different sales volume levels

target return pricing

according to the model of buying behavior, what is in a buyers "Black Box"?

the buyers characterisitcs and decisions process

_______ consists of many different people who play multiple roles in the buying process?

the buying center

when Dr. Lawncare developed him revolutionary new solar-powered lawnmower, he expected that that during the growth stage of the product life cycle that __________?

the company would see rising profits

_______ sia true statement regarding the concerns of service marketers going global?????

the trend toward growth of global service companies is expected to continue in the near future

_______ is a pure tangible good?

toothpaste

_______ refers to the practice of intergrating ethnic themes and cross-cutrual practice4s within a companys mainstream marketing?

total market strategy

______ is a true statement about service marketing

training current employees better & hiring new ones with more skills can increase service productivity

to create successful new products, a company must ___________?

understand its consumers, markets, & competitorts & develop products that deliver a superior value to customers

when marketers aggressively promotes only one benefit to the target market, the benefit promoted is known as the product or services ________?

unique selling proposition

________ is a true statement regarding managing service quality ???

unlike product quality, - service quality will always vary

service _________ means that the quality of services depends on who provides them as well as when, where & how they are provided

variability

_________ refers to setting prices based on buyers perception of value rather than on the sellers cost???

customer value based pricing

Intuit​ Labs, a division of​ Intuit, the accounting and payroll software​ developer, follows a​ "Design for Delight​ (D4D)" development​ philosophy, which states that products should delight customers by providing experiences that exceed expectations. Which new product development approach is Intuit​ using?

customer-centered new prpoduct development