HORT 455

Between which two segments do we find the chasm that separates the niche and the mass markets?

Between the Early adopters and Early majority

Behavioral characteristics include which of the following?

Occasion, Benefits sought, Usage

Which of the following are suggested regarding employee brand ambassadors/messengers?

Organize employee events and company outings, Encourage employees to share experience on social media, Give them swag with the company logo

Psychographics includes which of the following?

Personality, Values, Attitudes

Which of the following IS NOT one of the five principles needed to develop a brand?

Price reductions

Which of the following two choices has experienced the highest percent growth since 2015?

Private label products

What is the correct order of the first three steps in the process for making a purchasing decision?

Problem recognition, Information search, Evaluation of alternatives

The Kahn Retailing Success Matrix includes these four quadrants:

Product Brand, Experiential, Low Price, Frictionless

A business that focuses on an experiential shopping:

"provides more pleasure, more excitement, and more fun than other retailers can provide."

Which is the correct formula for conversion rate?

(total of items purchased/total items distributed) x 100

Between 2018 and 2022, it is anticipated that the number of low- and no-alcohol products will grow by what percent?

32.1%

Multicultural audiences in the U.S. are project to grow by what percent in 2020?

6.3%

What percentage of U.S. consumers report that they purchase specialty food?

75%

What percent of households use the same brands/products in daily meals that they use in specialty meals?

94%

What is a flexitarian?

A consumer who eats vegetarian or vegan diet most of the time

There is no clear definition for specialty food; however, how can they be defined? Select the best response

A premium-priced food product that provides an added-value appeal

A Yankee Candle is an example of a good that demonstrates which of the following

A pull strategy

Which are the primary reasons that influence Gen Z's level of alcohol consumption?

A reduction in overall risky behavior, A greater focus on health and fitness

An example of an opportunity would be:

A social media influencer promotes a product and sales increase.

Which of the following is the definition of "sub-branding"?

A way to offer different products or serve different markets under one brand name while minimizing both consumer confusion and brand dilution.

In terms of growth, which of the following packing options have outpaced sales of 750ml glass bottles of wine (the industry standard)?

All of the above

What strategies has the alcoholic beverage industry implemented/investigated to appeal to younger consumers of legal drinking age?

All of the above

Which of the following do you agree with? Select the one that best applies.

All of the above

The majority of low- and no-alcohol products are:

Beers

Which of the following should you consider when developing a marketing strategy?

Niche marketing and Target Marketing

Which of the following are defined by the USDA as being a value-added product?

Changing a product's physical state or form, Producing a product in a manner that enhances its value, The physical segregation of a product that results in the enhancement of the product's value

Which of the following refers to the process of identifying needs and wants?

Consumer research

Which one of the following is the ultimate goal we want to achieve when marketing a good or service?

Creating an emotional response

A pull strategy refers to which of the following

Customers actively seek out the brand and, in some cases, encourage retailers to carry the brand instead of others.

The three types of competitors that we need to be aware of are:

Direct, Future, Indirect

In which two Product Adoption Curve segments do we find the higher percentage of consumers?

Early majority and Late majority

An example of a strength would be:

Evidence of an advisory board committed to the project.

True or False: A brand ambassador's actions have no barring or impact on a brand's image and subsequent consumer response.

False

How many principles need to be considered when creating a brand?

Five

Which of the four Kahn Retailing Success Matrix quadrants does upselling best relate?

Frictionless

Aside from price, what characteristic do a majority of consumers use when selecting a bottle of wine?

Front label

A private label brand is the same as

Generic brand, Store brand

What is one of the primary snacking trends?

Healthy snacks, Spicy and earthy flavors

______ competition "is competition between companies that make slightly different products but target the same customers....they also aim to satisfy the same needs."

Indirect

Which of the following Product Adoption Curve segments actively seeks new products before a formal marketing program has been launched?

Innovators

Which of the following five Product Adoption Curve segments are the first to buy a good?

Innovators and Early adopters

Which of the following is the stage in the Product Life Cycle where you would expect: High costs per customer, buyers to be innovators, and few competitors?

Introduction

Which of the following are components of the first principle of developing a brand?

Logo, Tagline, Color choice, Spokesperson

What is the correct order of the first three steps in the process for making a purchasing decision?

Market focused

During which Product Life Cycle stage do you expect sales of a product to decrease?

Maturity

Which of the following is the stage in the Product Life Cycle where you would expect: Low cost per customer, buyers to be Early and Late Majority consumers, and the number of competitors start to decline?

Maturity

Of the two generations, which includes a higher percentage of consumers who purchase specialty foods, and the primary reason as to why? Select the best response.

Millennials, due to their higher level of income

As we move through the Product Adoption Curve, what is one thing that we need to reduce or remove to encourage less progressive segments to buy our good?

Reduce risk

A brand that resonates with consumers, which can creating a brand community, results in:

Repeat purchases, Refusal to accept substitutes, Willingness to pay premium prices

Which of the following are internal to a business?

Strengths, Weaknesses

Which is the best strategy for a small business to pursue?

Target Marketing

Which of the following is true for the U.S.? Select one response.

The U.S. is the largest wine consuming country based of volume.

Which of the following do businesses have no control over and are harmful to their success?

Threats

What is a benefit of an identity preserved marketing system? Select all that apply

Traceability, Safety, Reduced counterfeiting

True or false? Meat-free may have a "negative" connotation, even to those who believe that a plant-based ordering is healthier than its traditional counterpart

True

True or false? Multicultural marketing is "the practice of marketing to one or more audiences of a specific ethnicity- typically outside the country's majority culture."

True

Which of the following are examples of specialty food characteristics?

Unique origin, Sensory appeal, Limited distribution channel

The good, better, best strategy encourages which of the following?

Unselling

Based on the process of determining whether a good or service will be a success of failure, which of the following describes what market research is?

What actually happens in the marketplace.

Which of the following was a strategy implemented by the Pennsylvania Liquor Control Board?

Wine vending machines

What is a koodie?

a kid foodie

Direct competitors are...

businesses offering identical or similar products.

In general, when compared to a lower priced item, brand loyalty ____ for

increases

In general, when compared to a lower priced item, brand loyalty _____ for higher-priced/more expensive items.

increases

Generation Z is expected to drink _______ alcohol than previous generations.

less

A majority of consumers are:

loyal to brands

Discretionary income is...

the amount available to you after you pay for essentials (e.g., rend, utilities, groceries)