Marketing Test 2

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. A)Framework B)Brand C)Patent D)Prototype E)Paradigm

Brand

____ involves using an existing brand name for a new product category. A)Co-Branding B)Multi-branding C)New Branding D)Line Extension E)Brand Extension

Brand Extension

Introducing a new product into the market is called ________. A) Segmentation B) Product Development C) Commercialization D) Market Penetration E) Test Marketing

Commercialization

The stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as ________. A) Marketing Strategy Development B) Concept Testing C) Test Marketing D) Concept Development E) Crowdsourcing

Concept Testing

Gulf Coast, a wholesale shrimp distributor, groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Gulf Coast tailors a different set of advertisements and promotions. The supplier is segmenting its market according to ________. A)Benefits Sought B)Demographics C)Behavioral Factors D)Geographic Location E)Personality Characterisitcs

Geographic Location

The new product development process usually starts with ____. A) Idea Generation B) Concept Development C) Concept Testing D) Idea Screening E) Market Strategy Development

Idea Generation

Which statement is most likely true about idea generation in the new product development process? A) Intrapreneurial programs enable customers to contribute to the idea generation process B) Idea generation is most effective when it occurs after idea screening C) A company can either develop idea through internal of external sources but not through both D) Idea generation is usually followed by procedures that reduce the total number of ideas

Idea generation is usually followed by procedures that reduce the total number of ideas

A doctor performing hip surgery on a patient illustrates how a service can be produced and consumed simultaneously. This is an example of which service characteristic? A)Inseparability B)Perishability C)Tangibility D)Variability E)Intangibility

Inseparability

In which of the following stages of the adoption process does a consumer seek information about a new product? A)Awareness B)Evaluation C)Interest D)Adoption E)Trial

Interest

________ are tradition-bound, suspicious of changes, and adopt an innovation only when it has become something of a tradition itself. A)Early Adopters B)Latent Innovators C)Lagging Adopters D)Early Mainstream Adopters E)Late Mainstream Adopters

Lagging Adopters

Which of the following is a psychographic characteristic of a consumer? A)Lifestyle B)Occupation C)Economic Status D)Gender E)Age

Lifestyle

____ is the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior. A)Market Segmentation B)Mass Marketing C)Positioning D)Differentiation E)Market Targeting

Market Segmentation

When the size, purchasing power, and profiles of a market segment can be determined, it possesses the requirement of being ________. A)Substantial B)Actionable C)Accessible D)Measurable E)Observable

Measurable

The practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________. A) niche marketing B) micromarketing C) segmented marketing D) global marketing E) undifferentiated marketing

Micromarketing

Which of the following is the first stage of the buyer decision process? A)Evaluation of Alternatives B)Post-purchase Behavior C)Purchase Decision D)Need Recognition E)Information Search

Need Recognotion

____ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert social influence on others. A)Lagging Adopters B)Strangers C)Barnacles D)Opinion Leaders E)Late Mainstream Adopters

Opinion Leaders

Which statement about convenience products is most likely true? A)Luxury cars and designer clothes are examples of convenience products. B)They are distributed exclusively in only one or a few outlets per market area. C)Consumers need to make special purchasing efforts to buy such products. D)They are products that consumers rarely consider buying. E)They are bought by consumers frequently and with minimal comparison.

They are bought by consumers frequently and with minimal comparison.

Demographic factors are the most popular bases for segmenting customer groups. TorF

True

The moral of the product life cycle is that companies must continually innovate; otherwise, they risk extinction. T or F

True

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

True

Which of the following is an approach where firms target a whole market based on common consumer needs? A)Micro-marketing B)Concentrated Marketing C)Demographic Segmentation D)Undifferentiated Marketing E)Geographic Segmentation

Undifferentiated Marketing

Consumer products that the buyer either does not know about or knows about but does not normally consider buying are referred to as ______ products. A)Speciality B)Shopping C)Unsought D)Industrial E)Convience

Unsought

Specialty products are consumer products and services that customers generally buy _____. A)Based on ready availability. B)With minimal effort. C)To conduct business. D)Without making comparisons. E)Frequently and immediately.

Without making comparisons.

Kallton is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its Web site that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Kallton is using ________ to generate new product ideas. A) Test Marketing B) Crowdsourcing C) Concept Development D) Business Analysis E) Marketing Strategy Development

Crowdsourcing

A child in the United States is exposed to many values including achievement and success, freedom, individualism, hard work, and material comfort. These are symbolic of American ________. A)Subculture B)Expectations C)Culture D)Society E)Perceptions

Culture

During the ___ stage of the product life cycle, product sales may plunge to zero, or drop to a low level where they continue for many years. A) Maturity B) Growth C) Analysis D) Ideation E) Decline

Decline

Pediacertain 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)Demographic D)Occasion E)Benefit

Demographic

Port Orleans Shipping markets different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called ________ marketing. A)Local B)Concentrated C)Mass D)Differentiated E)Individual

Differentiated

____ is the degree to which an innovation may be tried on a limited basis. A)Relative Advantage B)Divisibility C)Complexity D)Compatibility E)Communicability

Divisibility

Modifying a product is an ineffective strategy in the maturity period of the product life cycle because the product's decline is irreversible at this stage. T or F

False

Which of the following is a social factor that influences consumer buying behavior? A)Occupation B)Life-Cycle Stage C)Family D)Personality E)Economic Situation

Family

Parvon, a cleaning product, is in the maturity stage of the product life cycle, and Parvon managers have decided to modify the market. Which of the following steps should Parvon managers most likely take to achieve this goal? A) Find new market segments for the brand B) Offer improved services to new buyers C) Improve the overall quality of the product D) Reduce mass media advertising expenses E) Conduct controlled test marketing activities

Find new market segments for the brand

____ 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)Market Targeting B)Positioning C)Mass Marketing D)Market Segmentation E)Differentiation

Positioning

Taco Bell test marketed Doritos Locos Tacos for three years and developed 45 prototypes. Once the decision was made to launch the new taco shell, it moved into the ________ stage of the new product development process. A) Concept Development B) Test Marketing C) Product Development D) Commercialization E) Strategy Development

Product Development

Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ________. A)Product Length B)Product Mix C)Product Assemblage D)Product Consistency E)Product Depth

Product Mix

____ Segmentation factors divide buyers into different groups based on social class, lifestyle, or personality characteristics. A)Psychographic B)Behavioral C)User Status D)Demographic E)Geographic

Psychographic

Which of the following needs in Maslow's hierarchy is generally satisfied last? A)Esteem B)Physiological C)Self-Actualization D)Safety E)Social

Self-Actualization

Which of the following is most likely a true statement about services? A)Service quality is not dependent on the provider B)Services can be easily separated from their providers C)Service industries vary greatly D)Services can be stored for later sale or use E)Demand fluctuation has little to no impact on service providers

Service industries vary greatly

____ products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style A)Convenience B)Shopping C)Secondary D)Unsought E)Capitol

Shopping

Which of the following is most likely a true statement about social class? A)Members of a social class vary drastically in their values, interests, and behaviors B)Wealth is more important variable than education in measuring social class C)In the United States, the lines between social classes are fixed and rigid D)Consumers of the same age belong to the same social class E) Social classes show distinct product preferences in areas such as clothing.

Social classes show distinct product preferences in areas such as clothing.