marketing test 3
Charles Revson of Revlon once said, "In the factory we make cosmetics; in the store we sell hope." Which product level is Revson referring to? Question content area bottom Part 1 A. Actual B. Augmented C. Core customer value D. Quality level E. Brand name
Core customer value
The strongest brands are positioned on ______. Question content area bottom Part 1 A. name selection B. attributes C. benefits D. beliefs and values E. sponsorship
beliefs and values
To be more socially responsible, some companies are appointing _____________. Their job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems. Question content area bottom Part 1 A. product stewards B. brand managers C. product managers D. product champions E. attorneys
product stewards
New product development consists of eight sequential steps. Which step reduces the number of ideas based on the company's criteria? Question content area bottom Part 1 A. Idea screening B. Concept testing C. Business analysis D. Product concept development E. Ideation
idea screening
Press releases, sponsorships, events, and web pages are tools used by which element of the promotion mix? Question content area bottom Part 1 A. direct and digital marketing B. public relations C. advertising D. sales promotion E. personal selling
public relations
When a company lengthens a product line by adding more items within that line's current range, the company is ________. A. Filling the line B. stretching the line upward C. increasing the width of the product mix D. decreasing the depth of the line E. stretching the line downward
A. filling the line
Which of the following correctly describes the classifications into which products and services fall? Question content area bottom Part 1 A. Luxury products and non-luxury products B. Technology products and non-technology products C. Consumer products and business products D. Wholesale products and retail products E. Consumer products and industrial products
Consumer products and industrial products
Which of the following would be an appropriate strategy in the maturity stage of the product life cycle? Question content area bottom Part 1 A. Modify the market, product offering, and marketing mix. B. Use promotional spending to inform consumers and get them to try the product. C. Shift some advertising from building product awareness to building product conviction and purchase. D. Select products to maintain, harvest, or drop. E. Produce basic versions of the product and focus on selling to those buyers who are most ready to buy.
Modify the market, product offering, and marketing mix.
Marketers must consider potential product issues related to social responsibility. Of the following, which is NOT one of the product issues associated with social responsibility? Question content area bottom Part 1 A. Product safety B. Patent protection C. Product warranties D. Public policy issues and regulations E. Product differentiation and positioning
Product differentiation and positioning
Social responsibility includes public policy issues and regulations involving _________________, and product warranties. Question content area bottom Part 1 A. product sustainability, patent protection, product quality and safety B. acquiring or dropping products, patent protection, product quality and safety C. patent protection, product quality and safety D. product quality and safety, product replacement E. product replacement, product quality and safety
acquiring or dropping products, patent protection, product quality and safety
In building brands, companies need to make decisions about four key powerful areas: ________________________________. Question content area bottom Part 1 A. brand positioning, brand name selection, advertising sponsorship, and brand development B. brand name selection, brand logos, brand sponsorship, and brand development C. brand positioning, brand name selection, brand sponsorship, and brand development D. brand extension selection, brand name selection, brand sponsorship, and brand development E. brand name selection, brand positioning, brand advertising, and brand sponsorship
brand positioning, brand name selection, brand sponsorship, and brand development
When marketers create services marketing strategy, they understand they must execute on external marketing but also develop _______________________________. Question content area bottom Part 1 A. create strategies that enhance buyer-seller interaction B. internal marketing programs for customer service representatives C. employee and customer-facing marketing strategies as well D. internal strategies to motivate employees and interactive marketing to create service delivery skills among service providers E. interactive marketing strategies for service providers and vendors
internal strategies to motivate employees and interactive marketing to create service delivery skills among service providers
The first part of a marketing strategy statement describes the ________ of a new product. Question content area bottom Part 1 A. planned price B. profit goals C. target market D. marketing budget E. marketing mix strategy
target market
Ideally, a company must carry out strong new product planning and set up a systematic new product development process that is _________ to find and grow new products. Question content area bottom Part 1 A. employee-driven B. competitor-driven C. cost-effective D. profitable E. customer-driven
customer-driven
_____________________ are the five promotion mix tools used by marketers to communicate customer value. Question content area bottom Part 1 A. Advertising, business-to-business selling, personal selling, sales promotion, and direct and digital marketing B. Television advertising, radio advertising, online advertising, social media advertising, and outdoor advertising C. Product, price, place, promotion, and advertising D. Advertising, public relations, personal selling, sales promotion, and direct and digital marketing E. Advertising, public relations, personal selling, sales promotion, and telemarketing
Advertising, public relations, personal selling, sales promotion, and direct and digital marketing
Marketers must make important decisions when developing individual products and services. Which of the following correctly identifies those important decisions? A.Product attributes, branding, quality level, pricing, and distribution B. Product attributes, branding, packaging, labeling, and product support services C. Branding, pricing, advertising, distribution, and product support services D. Quality level, pricing, advertising, distribution, and promotion Your answer is not correct. E. Product attributes, pricing, advertising, distribution, and promotion
B. Product attributes, branding, packaging, labeling, and product support services
Which of the following terms correctly describes the positive differential effect that knowing the brand name has on customer response to the product or the service? Question content area bottom Part 1 A. Brand name B. Brand positioning C. Brand personality D. Brand voice E. Brand equity
Brand equity
The totality of a company's product lines and items offered to customers is known as its _________________. A. product line width B. product lines C. product mix D. product line length E. product line depth Your answer is not correct.
C. Product mix
The distinction between a consumer product and an industrial product is based on the ________ for which the product is purchased. Question content area bottom Part 1 A. industry B. segment C. purpose D. customer E. market
Purpose
A new product may fail for many reasons. Which of the following is NOT one of them? Question content area bottom Part 1 A. Poor product positioning B. Poor product design C. Overestimated market size D. Rapid market acceptance E. Poor marketing research
Rapid market acceptance
A company's total promotion mix, also called its marketing communications mix, consists of the specific blend of five tools: _________________________. Question content area bottom Part 1 A. advertising, personal selling, sales promotion, trade relations, and direct and digital marketing tools B. advertising, sales promotion, public relations, special events, and direct and digital marketing tools C. advertising, personal selling, sales promotion, public relations, and direct and digital marketing tools D. advertising, direct selling, sales promotion, public relations, and direct and digital marketing tools E. advertising, personal selling, sales promotion, public relations, and direct marketing tools
advertising, personal selling, sales promotion, public relations, and direct and digital marketing tools
Broadly defined, a product is anything that can be offered to a market for ___________, or consumption that might satisfy a want or need. Products include not only physical objects, but also services, events, persons, places, organizations, ideas, or mixtures of these entities. Question content area bottom Part 1 A. requisition, use, attention B. acquisition, trial, attention C. attention, acquisition, use D. use, purchase, acquisition E. rent, acquisition, use
attention, acquisition, use
A brand's positioning must be continuously communicated to consumers. Although advertising can help, brands are maintained not by advertising, but by customers' ________. Question content area bottom Part 1 A. reactions to the brand B. brand engagement and brand experiences C. attitudes toward the brand D. brand preferences E. long-term purchases of the brand
brand engagement and brand experiences
The advantages of standardizing products and services for international markets include _______________, lower manufacturing costs, and lower marketing costs. Question content area bottom Part 1 A. lower distribution costs, fewer regulatory burdens B. consistent global image, lower product design costs C. lower product design costs, lower management costs D. lower product design costs, lower distribution costs E. lower product design costs, lower shipping costs
consistent global image, lower product design costs
Consumer products are products and services bought by final consumers for personal consumption. Consumer product classifications include _______________, and unsought products. Question content area bottom Part 1 A. convenience, shopping, specialty B. convenience, shopping, optional C. shopping, specialty, sought products D. luxury, specialty E. convenience, shopping, seasonal
convenience, shopping, specialty
A company may use the promotion mix, also called its marketing communications mix, to ______________________. Question content area bottom Part 1 A. persuasively communicate customer value, engage customers, and sell goods and services B. engage customers, persuasively communicate customer value, and build customer relationships C. create customer value, engage customers, and build customer relationships D. engage customers and sell goods and services E. engage customers, maintain customer relationships, and build customer relationships
engage customers, persuasively communicate customer value, and build customer relationships
Firms have four brand development choices. These are _____________. Question content area bottom Part 1 A. brand extensions, co-brands, private brands, and national brands B. line extensions, brand extensions, multibrands, and sponsorships C. line extensions, brand extensions, multibrands, and new brands D. line extensions, brand extensions, sponsorships, and new brands E. new brands, brand extensions, positioning, and sponsorships
line extensions, brand extensions, multibrands, and new brands
Marketers can apply the ________ as a useful framework for describing how products and markets work and help develop good marketing strategies for the different life-cycle stages. Question content area bottom Part 1 A. marketing planning process B. strategic planning process C. product life-cycle concept D. marketing concept E. product development process
product life-cycle concept
Good service companies understand the service profit chain, which links ________. Question content area bottom Part 1 A. service firm profits with employee satisfaction B. service firm profits with customer satisfaction C. product profits with employee and customer satisfaction Your answer is not correct. D. product profits with employee, vendor, and customer satisfaction E. service firm profits with employee and customer satisfaction
service firm profits with employee and customer satisfaction
Companies find and develop new product ideas from a variety of sources. Which of these is an internal source for new product ideas? Question content area bottom Part 1 A. R&D B. Competitors C. Distributors D. Customers E. Suppliers
R&D
Which of the following is the correct definition of a product? Question content area bottom Part 1 A. A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. B. A product is anything that can be offered to a market for consumption that does not satisfy a want or need. C. A product is a tangible good or a service that can be offered to a market for consumption that might satisfy a want or need. D. A product is a tangible good or a service that can be offered to a market for attention, acquisition, use, or consumption that does not satisfy a want or need. E. A product is a tangible good that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.
A. A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.
Which of the following correctly identifies the levels for which marketers make product and service decisions? Question content area bottom Part 1 A. individual product, product line, and product mix decisions B. primarily individual product and product line decisions C. primarily individual product and product mix decisions D. product development, individual product, product line, and product mix decisions Your answer is not correct. E. individual product, product line extensions, and product mix decisions
A. Individual product, product line and product mix decisons
___________________ are the two ways firms can obtain new products. Question content area bottom Part 1 A. Mergers and acquisitions B. New product development and external research and development C. Acquisitions and external research and development D. Acquisitions and new product development E. New product development and existing product modification
Acquisitions and new product development
Which stage of the product life cycle normally lasts longer than the previous stages and poses strong challenges to marketing management? Question content area bottom Part 1 A. Introduction B. Product development C. Maturity D. Growth E. Decline
Maturity
Which of the following statements is true regarding the promotion mix? Question content area bottom Part 1 A. Sales promotions are long-term incentives to encourage the purchase or sale of a product or service. B. The entire marketing mix must be coordinated for greatest impact. C. Direct and digital marketing cannot be used to target individual consumers. D. Personal selling is not used to engage customers. E. Advertising is a personal form of marketing communication.
The entire marketing mix must be coordinated for greatest impact.
Service providers often face price competition. As a solution to this, service providers can further differentiate themselves based on which three characteristics? Question content area bottom Part 1 A. Intangibility, perishability, and variability Your answer is not correct. B. Delivery, image, and discounting C. The service offer, delivery, and intangibility D. The service offer, image, and intangibility E. The service offer, delivery, and image
The service offer, delivery, and image This is the correct answer.
The number of product lines a company manages is the product mix ______. The total number of items a company carries within its product line is the product mix _____. Question content area bottom Part 1 A. width; length B. depth; length Your answer is not correct. C. width; depth D. length; width E. consistency; depth
a. width length
Because markets and consumers worldwide differ widely, companies usually respond to these differences by ________. Question content area bottom Part 1 A. creating entirely different products market by market B. standardizing their product offerings C. standardizing shipping and distribution costs D. adapting their product offerings E. maintaining a consistent image and lowering marketing costs
adapting their product offerings
All products have a life cycle. The sales of a typical product follow __________________, which is made up of five stages. Question content area bottom Part 1 A. a bell-shaped curve B. a spiral curve C. an S-shaped curve D. a V-shaped curve E. an inverted V-shaped curve
an S-shaped curve
Many companies are now developing ________ programs to generate new product ideas. Question content area bottom Part 1 A. customer panel B. college and university C. crowdsourcing or open-innovation D. external R&D . E. distributor and supplier
crowdsourcing or open-innovation
Services are characterized by four key aspects: ______________________. Question content area bottom Part 1 A. services are inexpensive, easy to find, intangible, and variable B. services are intangible, perishable, consistent, and inseparable Your answer is not correct. C. services are intangible, inseparable, variable, and perishable D. services are intangible, variable, perishable, and inexpensive E. services are intangible, inexpensive, easy to find, and automated
services are intangible, inseparable, variable, and perishable
Services are characterized by four key aspects, with each posing problems and marketing requirements. The four key aspects are ________________________. Question content area bottom Part 1 A. intangible, separable, variable, and perishable Your answer is not correct. B. tangible, inseparable, variable, and perishable C. intangible, inseparable, variable, and perishable D. intangible, inseparable, variable, and imperishable E. tangible, separable, invariable, and imperishable
intangible, inseparable, variable, and perishable