Marketing Exam 1

A dairy company produces milk, cheese, and yogurt. There are 6 items under milk, 4 items under cheese and 8 items under yogurt. What is the width and depth of the product mix?

3 and 6

The product life refers to

A concept that describes that stages a product foes through in the marketplace--introduction, growth, maturity, and decline

A product protocol refers to

A statement that identifies: 1. a well defined target market 2. specific customers' needs, wants, and preferences 3. what the product will be and do to satisfy consumers

Describe a market

An area for organizing and facilitating business activites

Product characteristic causes farmers to be high risk industry

Biological

Products organizations buy that assist in providing other products for resale are referred to as

Business products

_______ are items that become part of the final business product

Components

NOT a value of branding for marketers

Confuse consumers into buying their products

An example of derived demand

Container manufacturers experience an increase in sales because more HDTVs from Japan and South Korea are being sold in the U.S. and must be transported by ship in containers

A product the requires no new behaviors be learned by consumers is a

Continuous innovation

The marketing mix elements are called _______ because they are under the jurisdiction of the marketing department in an organization

Controllable factors

NOT a type of business products

Convenience food

With respect to the history of American business, the _______ era started in the 1980s in which firms seek continuously to satisfy the high expectations of customers

Customer relationship

MIchelin's ________ can be summer up as "providing safety-conscious parents greater security in tires at a premium price"

Customer value proposition

NOT an environmental force

Customers

The demand for a business product that results from the demand for a consumer product is referred to as

Derived demand

The two central concerns of marketing are

Discovering and satisfying consumer needs

What a characteristic of U.S. farms?

Dominance of family farms

The emphasis of a marketing strategy for a discontinuous innovation would most likely to be

Educate consumers about entirely new consumptions patterns through product trail and personal selling

The trade of things of value between buyer and seller so that each is better off after the trade is referred to as

Exchange

What utility is created by processing food?

Form

What is the marketing objective for the introduction stage of the product life cycle?

Gain awareness

An example of a nondurable good

Gasoline

Example of a product line

Hallmark Mother's and Father's Day cards

What market is the farmer a buyer

Input market

The activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large is referred to as

Marketing

A _______ is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers

Marketing program

Example of a brand mark

NBA

iMac personal computer is classified as

Nondurable good

What describes the twin food problem?

Producing enough food and distributing correctly

Example of twin food problem

Producing enough food and distributing it correctly

In marketing a(n) _______ generally includes not only physical goods, but services and ideas as well

Product

NOT a characteristic of a commodity

Product differentiation

A group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range is referred to as a

Product line

All of the different product lines offered by an organization are collectively referred to as

Product mix

All of the different product lines offered by an organization are collectively referred to as a

Product mix

The relationship between a product line and product mix is

Product mixes include product lines

The four P's of the marketing mix are

Product, Price, Promotion, and Place

What represents a new concept of farming?

Production and sale of undifferentiated commodities

Consumer products refer to _____

Products purchased by the ultimate consumer

A full scale operating model of the product under development is referred to as a

Prototype

NOT a source for a new product idea

Regulators

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as ____

Services

A factor that might doom a product in the marketplace is referred to as a(n)

Showstopper

Food marketing problem caused by farmers pursuing what they think is best for themselves without regard to its impact on the group

The free rider problem

What is a utility created by storing food?

Time

What utility does UPS provide when it delivers new DVD releases to Best Buy stores before the Tuesday national release day?

Time Utility

Utility function example

Time-Storage

It costs more to market food than to produce it on the farm

True

Market where farmers perform the most marketing functions

U-pick farming or roadside markets

The emphasis of a marketing strategy for a continuous innovation concentrates on

Using advertising to generate awareness

A _______ is a need that is shaped by a person's knowledge, culture, and personality

Want

A failure fee is a penalty payment

a manufacturer makes to compensate a retailer for devoting valuable shelf space to a product that fails to sell

The internal response that customers have to all aspects of an organization and its offerings is referred to as

customer experience

Good can be divided into ____ goods and _____ goods.

durable; nondurable

Stage one of the new-product development process is

new-product strategy development

Test marketing involves offering a product for sale

on a limited basis in a defined area

A target market refers to

one or more specific groups of potential consumers toward which an organization directs its marketing program

Marketing refers to

the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders and society at large