MKT EXAM 3: STUDY GUIDE SET

The three levels of brand loyalty from strongest to weakest are:

1. insistence 2. preference 3. recognition

Two trends that have caused consumer generated information to gain importance are?

1. the increase of consumers sharing their opinions through digital media 2. consumers mistrust of info from corporations

Devices that trigger a retailer app to display custom messages and promotions are known as?

Beacons

the fact that the first massage Gretchen gives each day is better than the last massage demonstrates the BLANK of services

Heterogeneity

BLANK that can allow almost real-time measurement and evaluation should be embedded at the onset of a social media strategy

Key performance indicators (KPI's)

Blank is a tangible physical entity

a good

Marketers ability to obtain digital info is referred to as?

accessibility

The ability of a marketer to identify customers before they make a purchase is called?

addressability

Adrienne has gone to the store to shop for a new backpack. she looks for the same brand she has always bought in the past but notices the back pack is now available in a variety of new colors. The backpack has undergone a BLANK modification

aesthetic

Home Depot has an iOS program that allows users to match colors in photographs with the stores selection of carpets. This is an example of?

an application

an individual knows that a product exists, but has little information about the product and does not seek additional information. this person is the BLANK stage of the product adoption process

awareness

the target bullseye is a classic example of a?

brand mark

Bethany and Joseph are preparing budgets for a new product as well as finalizing plans for the full-scale marketing and manufacturing of the new utilibot. They are in BLANK phase of the new-product development process

commercialization

BLANK is used when costs and revenues are secondary to competitors' prices.

competition based pricing

brand name awareness is an important element of brand equity because a familiar brand is more likely to be in a customers BLANK than an unfamiliar brand

consideration set

Due to external pressures and concerns for privacy, yahoo now has an opt-out option for internet-based advertising. This is an example of?

control

The BLANK consists of products fundamental utility or main benefit that usually addresses a fundamental need of the consumer

core product

Delta airlines encourages customers to post reviews on its company website or Facebook page in the hopes of increasing the company's BLANK

credibility

The stage of the product life cycle when marketers consider eliminating products that are not contributing to profitability is the BLANK stage

decline

an American airways flight from dallas to Houston was full, and the tickets were more expensive than the almost empty American airways flight from Chicago to phoenix, this is an example of BLANK service pricing

demand based

The growing use of two-day and next day delivery by online companies best relates to the BLANK variable of the marketing mix

distribution

If Norwegian Cruise Lines increased the price of its seven-day cruise package by 10% and, as a result, experienced a 20% decline in customer bookings, Norwegian's demand would be BLANK

elastic

BLANK refers to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing

electronic marketing (e-marketing)

If Glade, which markets plug in scents, were to introduce glade laundry detergent and dryer sheets with the same scents this would be called BLANK branding

extension

Changes that affect a products versatility, effectiveness, convenience, or safety are called BLANK modifications

functional

a package of aluminum foil on the shelf at Safeway has only a white package with black writing stating "aluminum foil". This product is an example of a BLANK brand

generic

achieving greater penetration of the market is typically a business goal during the BLANK stage of the product life cycle

growth

modifying a product to have BLANK may enable a company to charge a higher price by creating customer loyalty and lowering customer sensitivity to price

higher quality

If Florida gas and electric increased its rates by 10% and experienced a 2% reduction in the demand for power, the demand would be BLANK

inelastic

personal trainers cannot complete their work without their clients present because of the BLANK feature of services

inseparability

Brittany recently moved to a new city and is trying to find a new mechanic to do maintenance and repair on her car. she visits several places to judge their overall appearance, cleanliness, and organization and finally chooses a mechanic. Brittany was trying to overcome the BLANK aspect of services

intangibility

BLANK allows customers to express their needs and wants directly to a company in response to its marketing communications

interactivity

For most products a BLANK relationship exists between the price of a particular product and the quantity demanded

inverse

Although series grandfather still prefers using a landline, he just bought his first cellphone. series grandfather is most likely oriented toward the past and is a member of the BLANK group

laggard

Doritos has expanded to multiple different flavors, these are examples of BLANK

line extensions

As consumers become more informed about their options, the demand for BLANK products has BLANK

low priced grown

A BLANK brand usually requires a producer to become involved in distribution, promotion, and pricing decisions

manufacturer

Dunlop managers notice that when the number of tires the company sells increases from 1,000,000 to 1,000,001, total revenue rises $35. The $35 represents the firm's BLANK

marginal revenue

Adidas is establishing a BLANK pricing objective to maintain or increase its products sales in relation to total industry sales

market share

Internet sites that allow users to share photos, videos, and podcasts are called?

media-sharing sites

Grocery store offers candy bars for $.99 instead of $1. This use of BLANK pricing should help increase sales of candy bars

odd number

If Acer uses BLANK pricing for its newest Chromebook, it is probably most interested in obtaining market share; and it is assuming

penetration

Larissa is a concert promoter who works for Kanye west. she works very hard to make sure most of Kanye west concerts are sold out because she understands the concept of BLANK which means if the tickets are not sold, seats will remain empty and they can never be sold to anyone again for that specific concert

perishability

marketers of a particular brand of ice cream have decided to delete their line of ice cream bars. they will do so by letting the product decline and not change the current marketing strategy. this method of deletion is called BLANK

phase out

A product that has more features than those of its competition, or that is perceived to be of higher quality, warrants using a BLANK pricing strategy.

premium

advertisements for suave shampoos emphasize that other shampoos may cost more but don't work any better than suave. in this example, suave is competing on the basis of BLANK

price

a measure of sensitivity of demand in relation to changes in price is BLANK

price elasticity

The internet can be referred to as a BLANK medium because users determine which websites they're going to view

pull

minerals, chemicals, timber, and agriculture products are considered?

raw materials

after building a prototype of his new device, Barry is asked to conduct rigorous functional testing to see if the device meets performance and safety qualifications. This is a part of the BLANK phase of the new product development process

screening

Executives in Japan decided to price Lexus luxury cars in the United States at $55,000 while pricing them at $66,000 in their own country. This is an example of BLANK. A problem associated with BLANK is that consumers can predict when prices will be lowered and delay purchases until that time.

secondary-market pricing

an organization would use a BLANK pricing objective if it were in a favorable position and desired nothing more

status quo

if best western bundles its rooms with services such as free local phone calls, cable television, wireless internet access, and complimentary breakfast, these services are knowns as BLANK services

supplementary

in product modifications, three conditions must be met to improve a firms product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and BLANK

the modification should make the product more consistent with customers desires so it provides greater satisfaction

A BLANK signifies that the owner has exclusive use of a brand and others are prohibited from using it

trademark

Coca-cola offers a line of soft drinks including Diet Coke, Coke Zero, Fanta etc., these drinks best illustrate coca-cola's product mix BLANK

variety?