Marketing Chapters 6, 7, 8, 9

E

(blank) consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A) Differentiation B) Mass Marketing C) Market Targeting D) Market segmentation E) Positioning

D

(blank) is the only element in the marketing mix that produces revenue A) product B) place C) promotion D) price E) profit

D

(blank) occurs when two established brand names of different companies are used on the same product A) licensing B) franchising C) private branding D) co-branding E) brand positioning

B

A product mix is also known as a product (blank). A) support B) portfolio C) aggregation D) cluster E) niche

A

Demographic variables are the most popular bases for segmenting customer groups because they A) are easier to measure B) create more easily accessible segments C) do not involve stereotypes D) treats larger segments

D

Firms that manufacture seasonal products target their consumers primarily through (blank) segmentation A) psychographic B) demographic C) income D) occasion E) age and life cycle

True

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant or overlooked by larger companies True False

True

When a company decides to go international with a product, it must first figure out what products and services to introduce and in which countries True False

C

When a company interacts one-on-one with large numbers of customers to create customer-unique value by designing products and services tailor-made to individual needs, it is engaging in (blank) A) concentrated marketing B) mass marketing C) mass customization D) differentiated marketing E) local marketing

D

When a market segment is large or profitable enough to serve, it is termed (blank) A) measurable B) accessible C) differentiable D) substantial E) actionable

true

When consumers react more favorably to a brand than to a generic or unbranded version of the same product, the product is said to have positive brand equity True False

E

Which of the following is an example of an unsought product? A) furniture B) laundry detergent C) refrigerator D) toothpaste E) life insurance

B)

Which of the following is an example of licensing? A) DMX, an electronics manufactuer, acquires Z-Elex, a start up firm, and sells all Z-Elex's products under the DMX brand B) Berry, a fruit juice company uses a well-known cartoon character to promote the company's line of children's products and pays the creator of the cartoon a fee

C

Store brands are also known as (blank) brands A) national B) manufacturer's C) private D) extended E) licensed

E

A (blank) is defined as a name, term, sign, symbol, or design or a combination of these, that identifies the maker or seller of a product or service A) prototype B) paradigm C) framework D) patent E) brand

E

A value proposition is... A) the full positioning of a brand B) what a customer-driven marketing strategy starts with in determining how to best serve their target market C) is the answer to the customer's question "why should I buy your brand?" D) the bundle of benefits on which a brand is differentiated and positioned E) all of the above

False

Companies today are moving away from target marketing and toward mass marketing True False

C

How do firms that use captive-product pricing make up for the low prices of their main products A) they reduce the cost of the captive products B) they provide the captive products such as freebies C) they set high markups and prices on the captive products D) they increase the price of the main products E) they offer the captive products and main products together at a reasonable price

D

Orienting and motivating customer-contact employees and supporting service people to work as a team to provide customer satisfaction is known as (blank) marketing. A) social B) organizational C) differentiated D) internal E) interactive

D

Pro Pet Supplies, a pet food company, divides the pet market according to the pet owners' gender, occupation, income, and family life cycle. In this case, which of the following variables has the company used for market segmentation? A) geographic B) psychographic C) benefit D) demographic E) occasion

B

Quasi Inc. recently conducted a brainstorming session that generated a large number of ideas for adding new products and services. Quest managers most likely use (blank) to arrive at a realistic number of ideas to adopt. A) crowdsourcing B) idea screening C) concept testing D) concept development E) business analysis

A

Rent, electricity, and executive salaries that do not vary with production level are referred to as (blank) costs A) fixed B) variable C) break-even

C

Which of the following is the right order of steps that companies generally follow in designing a customer-driven marketing strategy? A) market segmentation, differentiation, positioning, and market targeting B) positioning, market segmentation, mass marketing, and market targeting C) market segmentation, market targeting, differentiation, and positioning D) market alignment, market segmentation, differentiation, and market positioning E) market recognition, market preference, market targeting, and market insistence

E

Which of the following statements is most likely true about the new product development process? A) the first step in developing a new product involves determining any budgetary or legal concerns B) most firms discourage employees from contributing new product ideas because of legal concerns C) in most cases, concept testing is followed by concept development D) a product concept should be developed for each idea before it goes through idea screening E) customers, competitors, and suppliers are major sources of new product ideas

B

Which of the following statements is most likely true about unsought products? A) Unsought products are consumer products and services that customers buy frequently B) Marketers use aggressive advertising to convince consumers to buy unsought products C) Unsought products are typically purchased for further processing by industrial manufacturers D) Compared to convenience products, unsought products are purchased more frequently E) Unsought products offer many unique characteristics to status-conscious consumers

B

Which of the following strategies is most likely to be followed by firms that position themselves as retailers of the best products at economical prices? A) more for the same B) more for less C) same for less D) more for more E) less for much less