MKTG Test II - 7, 11, 12, 13

Interpretation

Assignment of meaning to organized information inputs

The primary psychological influences on consumer behavior are

Attitudes Perception Retention Exposure Roles Lifestyles

Stages to the Product Adoption Process

Awareness Interest Evaluation Trial Adoption

The object model (Fishbein model) consists of which three elements?

Beliefs about product attributes, the strength of beliefs, and the evaluation of beliefs

Cognitive Component of Attitude

Beliefs or knowledge about a specific object of interest.

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

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-Cola's product mix

Depth

Which of the following identifies old technologies that can be used in new ways or creates new business models to give consumers more benefits than offered by current products in the marketplace?

Disruptive innovation

Generic Brands

Do not include the company name or other identifying terms

Which stage in the product life cycle is critical to a product's survival because competitive reactions to the product's success during this period will affect the product's life expectancy?

Growth

Which of the following contributes to the challenges of supply and demand management?

Inseparability and level of customer contact

Within the information search step of the consumer buying decision process, what two primary aspects exist?

Internal search and external search

____ is the development of a product that is closely related to one or more products in a firm's existing product line but is designed specifically to meet somewhat different customer needs.

Line extension

Manufacturer Brands

National brands owned by producers

______________ refers to how a product is conceived, planned, and produced.​

Product design

The development of a person's self-concept is a function of

Psychological and social factors

Your company has a product that is struggling in its market. However, the product appears to have some strength left that can be exploited. Which of the following product deletion actions would be most appropriate for the product?​

Reduce the price and implement a run-out strategy.

What step in developing new products involves determining whether the product idea is compatible with company objectives, needs, and resources on a general level?

Screening

Forever 21 sells primarily what type of products?

Shopping

Besides generic names, what other types of names are very difficult to protect?

Surnames and geographic names

Search Qualities

Tangible attributes that can be judged before the purchase of a product

The three elements of a product

The core product, its supplemental features, and its symbolic or experiential benefits

What should marketers do to promote the consistency and reliability of their services most effectively?

Train employees and develop standard procedures for dealing with customers

Selective Distortion

Type of psychological influence wherein the consumer has a tendency to twist or change information received to fit their own personal feelings or beliefs

Heterogenity

Variation in quality

Which of the following creates entirely new products, often aimed at new markets?

Venture team

An idea is

a concept, philosophy, image, or issue.

Venture Team

a cross-functional group that creates entirely new products that may be aimed at new markets

Disruptive Innovation

a new way of exploiting old technologies to give customers more than they've come to expect from current products

Reference Group

a social group that serves as a point of reference in making evaluations and decisions

A good is

a tangible entity

Early majority

adopt a product just prior the the average person

Product Mix

all products offered by a firm

A product is defined as

anything the customer receives in an exchange

Credence Qualities

attributes that customers may be unable to evaluate even after purchasing/consuming a service

Depth of product mix

average number of different product items offered in each product line

If Jade were given total marketing responsibility over Hill's Ideal Balance pet food, she would hold the position of ____ manager.

brand

Product Modifications

changes in one or more characteristics of a product

Quality Modifications

changes relating to a product's dependability and durability

Early Adopters

choose new products carefully and are viewed as people who are in the know

Business Products are

classified according to their characteristics and intended uses

A university's student body would be considered its ____ public; parents, alumni, and trustees would be included as its ____ public.

client; general

Jonah is a member of a consumer panel consisting of about 30 people. The consumer panel has been introduced to a company's new idea for energy drinks. Some of the questions panel members have been asked are "How often would you buy this product?" and "Which features are of little or no interest to you?" Jonah is most likely participating in the ___ phase of the new-product development process.

concept testing

A group of brands that a consumer views as alternatives for possible purchase is called an

consideration set

Purposeful actions to take advantage of or harm others during a transaction is best described as

consumer fraud

A small private college in Alabama paid a significant sum of money to a marketing firm to study the college's current marketing strategy and help develop new strategies for attracting students. The college is having a difficult time evaluating the effectiveness of the marketing firm's work because this type of service has many

credence qualities

Quality modifications are changes that relate to a product's

dependability and durability.

When determining how a product is conceived, planned, produced, and even its physical appearance and its specific characteristics, one is really talking about the product's

design, styling, and features.

Product Development

determining if producing a product is technically feasible and cost effective

Line Extension

development of a product that is closely related to one or more products in the existing line

Client Publics

direct consumers of a product of a nonprofit organization

The marketing channels for services are usually

direct from provider to customer.

Innovators

first to adopt a new product

During the maturity stage, some competitors are

forced out

A product that is simply labeled with the product category is considered a

generic brand

General Publics

indirect consumers of a product of a nonprofit organization

According to Maslow's hierarchy of needs,

individuals first satisfy the most basic needs and then try to fulfill needs at the next level up

The three levels of brand loyalty from strongest to weakest are

insistence, preference, recognition

Service marketers make promises to customers, suggesting that the customer place some degree of trust in the service provider. In this way, service marketers are trying to address the challenge of the service characteristic of

intangibility.

A service is

intangible

The test marketing stage

is a sample launching of the entire marketing mix

As the owner of a services business, you are constantly challenged to maintain consistent quality in your services. This heterogeneity is both a challenge and an opportunity. The opportunity arises because _________________

it allows you to customize your services to match the specific needs of individual customers

When a business finds itself squeezed out of a market for a product or loses interest in that product, it is a sign of being in the _____ stage of the product life cycle

maturity

Demand-based pricing most closely relates to the ____ of services.

perishability

The decisions and activities intended to create and maintain a certain concept of the firm's product, relative to competitive brands, in customers' minds is

product positioning.

Product Manager

responsible for a product or product line

Brand manager

responsible for a single brand

Market Manager

responsible for managing the marketing activities that serve a particular group of customers

Tatiana finds evaluating a new pair of jeans much easier than evaluating tennis lessons because she can try on the jeans to see exactly how they feel and fit. In other words, the jeans have many ____ qualities.

search

The continuum of tangibility goes from ____ on one end to ____ on the other end.

service-dominant products; good-dominant products

Late majority

skeptical of new products, but eventually adopt them

Mikhail works on developing press releases for a nonprofit organization looking for new ways to encourage recycling among consumers and businesses. Mikhail is engaging in

social marketing.

A product item is best described as a

specific version of a product

The major drawback to using aesthetic modifications is

that the value of the modification is determined subjectively.

Product Positioning

the decision and activities intended to create and maintain a certain concept of the firm's product

Many aspects of consumer buying decisions are affected by the individual's level of involvement. Level of involvement is -

the importance and intensity of interest in a product in a particular situation

Perishability

the inability of unused service capacity to be stored for future use (concert seats)

Laggards

the last to adopt a new product

Supplemental features

things like free installation, guarantees, maintenance, etc.

A company with a diverse product line has a product mix described as

width

The four factors that affect a customer's evaluation of a service are the analysis of customer expectations, service quality specifications, management of service expectations, and

​employee performance

Extended Decision-making behavior

is the most complex decision-making behavior, which comes into play when a purchase involves unfamiliar, expensive, or infrequently bought products

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.

Width of Product Mix

measured by the number of product lines a company offers

Another common name for a private distributor brand is a

store brand

Private distributor brands

store brands - initiated and owned by a reseller

Inseparability

the quality of being produced and consumed at the same time

Limited Decision Making Behavior

used when purchasing products that require a moderate amount of time and effort to compare models before making a choice

Sarah sets up her new interior decorating business and advertises her expertise in high-quality draperies and other window treatments. One of her first customers is extremely dissatisfied with Sarah's work, so Sarah redoes the job at her own expense because she knows how powerful ____ is (are) for services and wants to stay in business.

word-of-mouth communication