Marketing Exam 2 Review

Howard Schultz, the founder of Starbucks, positioned his bistros as "a third place" between work and home where patrons could share and enjoy a cup of coffee with friends. This illustrates ________.

a core customer value

A(n) ________ describes a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea.

attitude

A ________ 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.

brand

Which of the following terms is used to describe a specific mix of human traits that may be attributed to a particular brand?

brand personality

Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Harry's most likely segments the consumer market based on ________ variables.

demographic

Bill thought he had received the best deal on his riding mower. Shortly after the purchase, Bill started to notice certain disadvantages of his new riding mower as he learned more about other riding mowers available in the same price range. Bill is in which of the following stages of the buyer decision process?

postpurchase behavior

A detailed version of a product idea stated in meaningful consumer terms

product concept

In the ________ stage of new product development, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them.

product development

Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ________.

product mix

Bass Pro Shops recognizes that outdoors enthusiasts are a diverse group. Likely segments include hunters, campers, and boaters. What is this segmentation method called?

psychographic

At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance departments work in cross-functional groups to save time and money in the new product development process. From this description, it can be inferred that Fantastic Flavors uses a(n) ________ approach.

team-based new product development

Which of the following is an example of a shopping product?

television

Fads are characterized by their

unusually high sales and rapid decline

In which of the following cases is little or no test marketing most likely recommended for a new product?

when the costs of developing and introducing the product are low

________ is the degree to which an innovation fits the values and experiences of potential consumers.

Compatibility

________ 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.

Positioning

________ refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.

Services

Compared with undifferentiated marketing, differentiated marketing is more likely to lead to ________.

higher costs of doing business

Stores offering low-quality alternatives to luxury products at low prices most likely follow a ________ positioning strategy.

less-for-much-less

A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ________.

reference group