Marketing Exam 3
two trends that have caused customer generated information to gain importance
1. increase of customers sharing their opinions through digital media 2. consumers mistrust of info from corporations
The 3 levels of brand loyalty from strongest to weakest are ______, ______, and ______
1. insistence 2. preference 3. recognition
____ refers to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing
Electronic Marketing
______ that can allow almost real-time measurement and evaluation should be embedded at the onset of a social media strategy
Key Performance Indicators
a ______ is a tangible physical entity
Product / Good
executives in Japan decided to price Lexus luxury cars in the US at $55,000, while pricing them at $66,000 in their own country. This is an example of _____. A problem associated with _____ is that consumers predict when prices will be lowered and delay purchases until that time.
Secondary market pricing and periodic discounting
marketers ability to obtain digital info is referred to as _____
accessibility
Food King grocery stores offer candy bars in the checkout lanes for $0.99 rather than $1.00. This use of _____ pricing should help increase sales of candy bars
add number
the ability of a marketer to identify customers before they make a purchase is called _____
addressability
Home Depot has an IOS program that allows users to match colors in photos with the stores carpet selection. This is an example of _____
application
an individual knows that a product exists, but has little information regarding the product and does not seek atonal information. This person is in the _____ stage of the product adoption process.
awareness
devices that trigger a retailers app to display custom messages and promotions are known as _____
beacon technology
If Glade, which markets Glade scented Plug Ins and Glade scented candles and wax melts were to introduce Glade laundry detergent and dryer sheets with the same scents, this would be called _____ branding
brand - extension
the Target bullseye is a classic example of a _____
brandmark
Bethany and Joseph are preparing budgets for a new product as well as finalizing plans for the full-scale marketing and manufacturing the new UtiliBot. They are in the _______ phase of a new product development process.
commercialization
Brand name awareness is an important element of a bran equity because a familiar brand is more likely to be in a customers ______ than an unfamiliar brand
consideration set
due to external pressures and concerns for privacy, Yahoo now has an opt-out option for internet based advertising. This is an example of ________
control
The ______ consists of a product's fundamental utility or main benefit and usually addresses a fundamental need of a customer
core product
Delta airlines encourages customers to posts reviews on its company website or Facebook in hopes of increasing the companies _____
credibility
The stage of the product life cycle when marketers consider eliminating products that are not contributing to profitability is the _____ stage.
decline
if Norwegian Cruise Lines increased the price of its 7 day cruise package by 10% and, as a result, experienced a 20% decline in customer bookings, Norwegian's demand would be _____
elastic
a measure of sensitivity of demand in relation to changes in price is _____
elasticity
A package of aluminum foil on the shelf at Safeway has only a white package with black letters stating "aluminum foil". This product is an example of a _____ brand.
generic
The fact that the first massage Gretchen gives each day us better than the last massage demonstrates the _____ of services.
heterogeneity
modifying a product to have a higher _____ may enable a company to charge a higher price by creating customers loyalty and lowering customer sensitivity to price
higher quality
if Florida gas and electric increased its rates by 10% and experienced a 2% reduction in the demand for power, and demand would be _____
inelastic
personal trainers cannot complete their work without their clients present because of the ____ feature of services
inseparability
Brittany recently moved to a new city and is trying to find a new mechanic to o maintenance and repair on her car. She visits several places to judge their overall appearance, cleanliness, and organization and finally chooses a mechanic. Brittany was trying to overcome the _____ aspect of services
intangibility
______ allows customers to express their needs and wants directly to a company in response to its marketing communications
interactivity
for most products a ______ relationship exists between the price of a particular product and the quantity demanded
inverse
Although Seregei's grandfather still prefers to use the landline, he just bought his first cell phone. His grandfather is most likely oriented toward there past and is a member of the _______ group.
laggards
Coca-Cola offers a line of soft drinks that include Coca-Cola, Diet Coke, Coca-Cola Zero, Sprite, and Fanta. These drinks best illustrate Coca-Colas product mix ____
line
In the Chapter 11 lecture, Colgate Calming Clean toothpaste with hemp seed oil was an example of ______
line extension
Dunlop managers notice that when the number of tires the company sells increases from 1,000,000 to 1,000,001 total sales revenue rises $35. The $35 represents the firms ______
marginal revenue
Adidas is establishing a _______ pricing objective to maintain or increase its products sales in relation to total industry sales
market share
internet sides that allow users to share photos, videos, and podcasts are called____
media sharing sites
In production modification, three conditions must be met to improve a firms product mix : the product must be modifiable, customers must be able to perceive that a modification has been made, and ____________
modification should make the product more consistent with customers desires
if Acer uses _____ pricing for its newest Chromebook, it is probably most interested in obtaining market share ; and it is assuming
penetration
Larissa is a concert promoter who works for singer Morgan Wallen. She works very hard to make sure most of Morgans concerts are sold out because she understands the concept of _______ which means that if the tickets are not sold, seats will remain empty and they can never be sold to anyone again for that specific concert.
perishability
Marketers of a particular brand of ice cream have decided to delete their line of ice cream bars. They will do so by letting the product decline and not change the current marketing strategy. This method of deletion is called _____.
phase - out
a product has more features than those of its competition, that is perceived to be of higher quality, warrants using a _____ pricing strategy.
premium
adervtisements for Suave shampoos emphasize that other shampoos may cost more but don't work any better than Suave. In this example, Suave is competing on the basis of ________
price
The internet can be referred to as a ______ medium because users determine which websites they are going to view
pull
minerals, chemicals, timber, and agricultural products are considered _____
raw materials
An American Airways flight from Dallas to Houston was full, and the tickets were more expensive than the almost-empty American Airways flight from Chicago to Phoenix. This is an example of ____ service pricing ?
roll - out
after building a prototype of his new device, Barry is asked to conduct rigorous functional testing to see if the device meets performance and safety qualifications. This is part of the ________ phase of the new product development process.
screening
if Best Western bundles its rooms with services such as free local phone calls, cable tv, wireless internet access, and complimentary breakfast, these services are known as ________ services
supplementary
A _____ signifies that the owner has exclusive use of a brand and others are prohibited from using it.
trademark