Chapter 11 Quiz

The manufacturer Mike and Ike, the fruit-flavored chewy candies, has changed its packaging and developed contests all geared to 12- to 17-year-olds. What type of market segmentation identifies its market?

demographic

Which of the following is NOT one of the stages in the product life cycle?

development

When the producers of Ocean Spray cranberry products decided to make Craisins (a dried cranberry snack food) available in convenience stores, supermarkets, and vending machines, it was involved with determining _____ strategy.

distribution

A marketer that took the city and the climate into consideration as marketing variables would be concerned about _____ segmentation.

geographic

The craft store marked skeins of embroidery thread down to a quarter apiece to attract more customers into the store. This was below the store's cost. The skeins of thread was intended to be a _____ to increase store traffic:

loss leader

In general, when a business is engaged in environmental scanning, it looks at all of the following external forces that might affect it EXCEPT:

suppliers

_____ is the ratio of benefits to the sacrifice necessary to obtain those benefits.

Customer value

_____ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Marketing

Which of the following is a consumer durable?

bedroom dresser

_____ segmentation is based on what the product will do rather than on consumer characteristics.

benefit

Which of the following is an example of a capital product that would be found in a brewery?

bottling machine

Business products are classified into two categories. Large, expensive items with long life spans are called _____ products, and; smaller, less expensive items with short life spans are called _____ products.

capital; expense

Compressor pumps installed in General Electric refrigerators would be considered:

component parts

_____ is the set of values, ideas, attitudes, and symbols created to shape human behavior.

culture

Which of the following products would be correctly described as being in the decline stage of their product life cycle?

manual typewriters

Shenshen Zhongxing Telecom (ZTE) is a Chinese company that is the only telecommunications company in China that produces and markets an inexpensive camera phone to sell to middle class Chinese living in urban areas. Because ZTE targets a single segment within a limited geographical area, it can be said to have a(n):

niche competitive advantage

The Library is a new bar in town. Unlike the other bars in town, it charges no cover charge. The new bar has also priced its beer at $3 less per pitcher than its competition. Given what you know about pricing strategies, which pricing strategy is the owner of the new bar using?

penetration pricing

_____ pricing is the strategy of increasing the price of a product so that consumers will perceive it being of higher value.

prestige

Pricing a product at $399.99 instead of $400 to make the customer view the price as in the $300 range instead of the $400 range is an example of:

psychological pricing

Customer satisfaction:

refers to the customer's feeling that a product has met or exceeded expectations