Quiz 5

After seeing advertisements for the Toyota Prius, Hannah becomes interested and does some Internet research. However, after seeing the price for a new model, she decides to purchase a Ford Fusion instead. This is an example of the lagged effect.

False

, the method by which the firm communicates value to target customers. This communication is necessary if customers are going to discover and choose to buy the firm's products.

Marketing communications is the promotion element of the six Ps

____________ helps a product be adopted more quickly (i.e., to diffuse faster).

Trialability

The fact that the Apple iPad is easy to try—demo units are available at Apple stores as well as other retail stores—has helped it diffuse more quickly.

True

Uncle Barton is a laggard—

a consumer who either adopts the innovation long after nearly the entire population has done so, or who never adopts it at all—when it comes to telephone technology.

Sometimes consumers don't act immediately after receiving a marketing communication because of the lagged effect-

a delayed response to a marketing communication campaign.

The steps in the AIDA model are

awareness, interest, desire, and action.

The introduction stage is

characterized by initial losses to the firm due to its high start-up costs and low levels of sales revenue as the product begins to take off.

Especially for marketers with new products or services, IMC is needed because

consumers are unlikely to buy products they are not aware of.

In the AIDA model, awareness leads to

interest, which hopefully leads to desire and then action.

During the ________ stage of the product life cycle, sales are low, and profits are small or negative.

introduction

When Michaela began helping her favorite uncle Barton with his finances, she discovered her uncle was still renting a rotary-dial telephone from the phone company. Uncle Barton had paid thousands of dollars in rental fees over the previous 30 years. Uncle Barton is a(n) ________ in the diffusion of innovation process for telephones.

laggard

Encoding-

means converting the sender's ideas into a message, which could be verbal, visual, or both.

Inkjet printers were a big improvement over the dot-matrix printers they replaced. Inkjet printers gained rapid acceptance in the marketplace primarily because of their______________

relative advantage

In a television commercial for Chobani Greek yogurt, the manufacturer Chobani plays which role in the communication process?

sender

The message originates from the _____________, who must be clearly identified to the intended audience.

sender

If a product or service is perceived to be better than substitutes, then the diffusion will be relatively quick. Inkjet printers offered a ________________ compared to dot-matrix printers.

substantial relative advantage

A method of determining the success potential of a new product, ___________ introduces the offering to a limited geographical area (usually a few cities) prior to a national launch.

test marketing

Many restaurants roll out new ideas first in Orlando, Florida, a location that attracts a vast range of diverse tourists and thus might offer insights into what various consumer groups will like. This is an example of

test marketing.

trialability-

the ability to easily try a product for yourself.