MKT EXAM 3 STUDY GUIDE

Adrienne has gone to the store to shop for a new backpack. She looks for the same brand she has always bought in the past but notices that the backpack is now aailable in a variety of new colors. The backpack has undergone an _________ modification

Aesthetic

Two trends that have caused consumer-generated information to gain importance are

Consumers sharing opinions on social media & consumers mistrust of information from corporations

In the L'Oreal video we watched in Chapter 9, the company used Search to identify _________

Core product

The growing use of two-day and next-day delivery by online companies best relates to the _____ variable of the marketing mix

Distribution

______ 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

The three levels of brand loyalty from strongest to weakest are:

Insistence, preference, and recognition (I pace runs)

________ allows customers to express their needs and wants directly to a company in response to its marketing communications

Interactivity

______ that can allow almost real time measurement and evaluation should be embedded at the onset of a social media strategy

Key performance indicators

As consumers become more informed about their options, the demand for ________ products has _______

Low priced; grown

Internet sites that allow users to share photos, videos, and podcasts are

Media sharing sites

The Internet can be referred to as a ______ medium because users determine which websites they are going to view.

Pull

Marketers' ability to obtain digital information is referred to as

accessibility

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 photographs with the store's selection of carpets. This is an example of an

application

An individual knows that a product exists, but has little information regarding the product and does not seek additional information. This person is in the ______ stage of the product adoption process.

awareness

Devices that trigger a retailer's app to display custom messages and promotions are known as

beacons

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 ______

brand mark

Bethany and Joseph are preparing budgets for a new product as well as finalizing plans for the full-scale marketing and manufacturing of the new UtiliBot. They are in the ____ phase of the new-product development process.

commercialization

_______ is used when costs and revenues are secondary to competitors' prices

competition based pricing

Brand name awareness is an important element of brand equity because a familiar brand is more likely to be in a customer's ______ 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 the customer

core product

Delta airlines encourages customers to post reviews on its company website or Facebook page in hopes of increasing the company's

credibility

The stage of the product life cycle when marketers consider eliminating products that are not contributing to profitability is the ______ stage.

decline

An American Airlines 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?

demand based

Coca-cola offers a line of soft drinks that includes coca cola, diet coke, coca cola zero, sprite, and fanta. These drinks best illustrate coca colas product mix ______

depth

If Norwegian Cruise Lines increased the price of its seven-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 of demand

Changes that affect a product's versatility, effectiveness, convenience, or safety are called ____ modifications.

functional

A package of aluminum foil on the shelf at Safeway has only a white package with balck letters stating "aluminum foil." This product is an example of a ______ brand.

generic

A _______ is a tangible physical entity

good

Achieving greater penetration of the market is typically a business goal during the ______ stage of the product life cycle

growth

The fact that the first massage Gretchen gives each day is better than the last massage demonstrates the ____ of services.

heterogeneity

Modifying a product to have ______ may enable a company to change a higher price by creating customer loyalty and lowering customer sensitivity to price.

increased product quality

If Florida Gas and Electric increased its rates by 10% and experienced a 2% reduction in the demand for power, the 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 do 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

For most products, an _________ relationship exists between the price of a particular product and the quantity demanded

inverse

Although sergei's grandfather still prefers using a land line, he just bought his first cell phone. Sergei's grandfather is most likely oriented toward the past and is a member of the _______ group.

laggards

In the chapter 11 lecture, Colgate Calming Clean toothpaste with help seed oil was an example of a ____

line extension

Dorito's has expanded to Nacho Cheese Doritos, Cool Ranch Doritos, and Salsa Verde Doritos, to name a few. These are examples of

line extensions

A ________ brand usually requires a producer to become involved in distribution, promotion, and pricing decisions.

manufacturer

Dunlop managers notice that when the number of tires the company sells increases from 1,000,000 to 1,000,001, total revenue rises $35. The $35 represents the firm's _______

marginal revenue

Adidas is establishing a _______ pricing objective to maintain or increase its product's sales in relation to total industry sales

market share

In product modification, three conditions must be met to improve a firm's 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

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 the candy bars.

odd number

If Acer uses ______ pricing for its newest chromebook, it is probably most interested in obtaining market share; and it is assuming _______

penetration; other competitors could enter market easily.

A problem associated with _____ is that consumers can predict when prices will be lowered and delay purchases until that time

periodic discounting

Larissa is a concert promoter who works for singer Kanye West. She works very hard to make sure most of Kanye's 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 that has more features than those of its competition, or that is perceived to be of higher quality, warrants using a _______ pricing strategy

premium

Advertisements 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

Minerals, chemicals, timber, and agricultural products are considered

raw materials

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

Executives in Japan decided to price Lexus luxury cars in the United States at $55,000 while pricing them at $66,000 in their own country. This is an example of

secondary market pricing

An organization would use a ______ pricing objective if it were in a favorable position and desired nothing more

status quo

If Best Western bundles its rooms with services such as free local phone calls, cable television, 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 form using it.

trademark