MKT test 2 terms

occasion segmentation

Bakeries and coffee bistros that offer pumpkin flavored items only during the autumn season target their consumers primarily through ___________.

multiple segmentation bases

Gold Glass Electricals, a consumer electronics firm, targets market segments based on factors such as country, age, social class, usage rate, and benefits sought. The company divides its markets based on __________________.

geographic location

Gulf Coast, a wholesale shrimp distributor, groups its customers by regions in the US 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 _________________.

demographic

Harry's caters to 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 the 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.

candy

In class, we discussed perceptual maps. What product did we use to construct a map in class?

evoked

In class, we discussed your selection of fast food restaurants. What is the name of the 'set' from which customers will select a product?

commericalization

Introducing a new product into the market

stretching

Lengthening a product line beyond its current range is referred to as a product line __________.

mass marketing

Marketing the same product to a huge customer base without any customization

line extensions

Non-Dairy Delight, a manufacturer of soy milk, attracts new customers by adding cinnamon pumpkin, and vanilla flavors to its traditional product. In this case, the company has developed its brand with ___________________.

brand extension

Sportware, a leading shoe manufacturer, markets sneakers under the brand name "Athletix" and dress shoes under the brand name "Cameo" in order to target two different market segments. Which branding strategy is most likely being used by Sportware?

idea generation

The new product development process usually starts with ________.

concept testing

The stage in which product ideas are presented to groups of target consumers physically or symbolically

Which of the following is true of product positioning?

To simplify the buying process, consumers are likely to position products in their minds.

market structure

When Goodyear sells replacement tires to final consumers, its potential market includes millions of car owners around the world. But its fate in the business markets depends on getting orders from only a handful of large automakers. This represents the difference in _________________ between business and consumer markets.

image

When firms use symbols, colors, or characters to convey their personalities, they are using _________ differentiation.

measurable

When the size, purchasing power, and profiles of a market segment can be determined, the market segment is said to be _____________.

family

Which of the following is a social factor that influences consumer buying behavior?

life insurance

Which of the following is probably the best example of an unsought product?

need recognition

Which of the following is the first stage of the buyer decision process?

Market segmentation, market targeting, differentiation, and positioning

Which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy?

self-actualization

Which of the following needs in Maslow's hierarchy is generally satisfied last?

perishability

World Skies' Flight 167 takes off at 50 percent capacity. The unoccupied seats cannot be stored for later sale or use. This is an example of which service characteristic?

national

Xenon, a leading consumer electronics manufacturing company, markets its products under the company's own brand name. In this case, Xenon has sponsored its products by promoting them as ___________ brands.

shopping

_______ products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.

psychographic

_______ segmentation factors divide buyers into different groups based on social class, lifestyle, or personality characteristics.

The buying center

___________ is not a fixed and formally identified unit within a buying organization.

cognitive dissonance

a discomfort caused by post purchase conflict.

services

a form of product that consist of activities, benefits, or satisfactions offered for sale that are essentially intangible.

brand

a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or the seller of a product or service.

attitude

a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea.

the product life cycle concept

a product class, a product form, or a brand.

business analysis

a review of the sales, costs, and profit projections for a new product to determine whether they satisfy a company's objectives.

convenience consumer

consumer products and services that customer usually buy frequently, immediately, and with minimal comparison and buying effort.

reorders something without any modifications

in a straight rebuy, a buyer....

co-branding

occurs when two established brand names of different companies are used on the same product.

opinion leaders

people within a reference group who, because of their special skills, knowledge, personality, or other characteristics, exert social influence on others.

relative advantage

the degree to which an innovation appears superior to existing products.

perception

the process by which people select, organize, and interpret information to form a meaningful picture of the world.

market segmentation

the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior.

test marketing

the stage where a product and its proposed marketing program are introduced into realistic market settings.

lagging adopters

tradition bound, suspicious of changes, and adopt an innovation only when it has become something of a tradition itself.

culture

A child in the US is exposed to many values including achievement and success, freedom, individualism, hard work, and material comfort. These are symbolic of American __________.

inseparability

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?

decline

A product life cycle has five distinct stages: product development, introduction, growth, maturity, and __________.

increase profits by adding items

A product line is most likely too short if managers can ____________.

evaluation of alternative

Devon is in the market for a new car. She is seriously considering either a Honda Civic or a Toyota Corolla, because they both have excellent quality and safety ratings and are comparable in price. Devon is in __________________ stage of the buyer decision products.

differentiated

Port Orleans Shipping market 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.

number of different product lines the companies carry

Product mix width refers to the ....

post purchase behavior

Simone bought two bottles of wine from two vineyards in Bordeaux. When asked for an opinion on the quality of the wines, she later mentioned the Pontet Canet tasted like alcoholic grape juice, but the Chateau Margaux had a crisp taste that she really enjoyed. Which of the following stages of the buyer decision process do Simone's remarks reflect?