Review Test Submission: Quiz 2 - Chapters 5-8

Howard Schultz, the founder of Starbucks, positioned his bistros as "a third place" between work and home where patrons could share and enjoy a cup of coffee with friends. This illustrates ________. a.a core customer value b.complex bundling c.an actual product d.simple bundling e.an augmented product

a. a core customer value

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.brand b.framework c.patent d.paradigm e.prototype

a. brand

A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ________. a.reference group b. subculture c. laggard d. late-majority adopter e. membership group

a.reference group

When the size, purchasing power, and profiles of a market segment can be determined, the market segment is said to be ________. a. actionable b. measurable c. substantial d. observable e. accessible

b. Measurable

A(n) ________ describes a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea. a.cue b.attitude c.role e. motive d.drive

b.attitude

Which of the following costs is most likely associated with commercialization? a.using simulated tests to measure market capacity b.building or renting a manufacturing facility c. determining a product's planned price, distribution, and marketing budget d. developing a prototype of a product e. paying groups of consumers for participating in crowdsourcing activities

b.building or renting a manufacturing facility

A detailed version of a product idea stated in meaningful consumer terms is a ________. a.product idea b.product concept c.product feature d.product image e.product framework

b.product concept

Bass Pro Shops recognizes that outdoors enthusiasts are a diverse group. Likely segments include hunters, campers, and boaters. What is this segmentation method called? a.usage rate b.psychographic c.user status d.benefit e.behavioral

b.psychographic

Harry's caters to the 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 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 a. behavioral b. geographic c. demographic d. universal e. psychographic

c. Demographic

________ is the degree to which an innovation fits the values and experiences of potential consumers. a.Relative advantage b. Complexity c. Compatibility d. Divisibility e. Communicability

c.Compatibility

________ refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible. a.Line extensions b.Co-brands c.Services d.Horizontal extensions e.Pure products

c.Services

At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance departments work in cross-functional groups to save time and money in the new product development process. From this description, it can be inferred that Fantastic Flavors uses a(n) ________ approach. a.simulated test market b.controlled test market c.team-based new product development d.sequential new product development e.intradepartmental new product development

c.team-based new product development

________ 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 segmentation b.Mass marketing c.Market targeting d.Positioning e.Differentiation

d. Positioning

Stores offering low-quality alternatives to luxury products at low prices most likely follow a ________ positioning strategy a. more-for-more b. same-for-less c.more-for-the-same d.more-for-less e. less-for-much-less

e. less-for-much-less

Which of the following terms is used to describe a specific mix of human traits that may be attributed to a particular brand? a.brand architecture b.brand loyalty c.brand perception d.brand equity e.brand personality

e.brand personality

In the ________ stage of new product development, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them a. test marketing b. concept screening c. business analysis d. idea generation e.product development

e.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 depth b.product consistency c.product assemblage d.product length e.product mix

e.product mix

Which of the following is an example of a shopping product? a.toothpaste b.laundry detergent c.candy d.fast food e.television

e.television

A marketing firm has been assigned the task of watching trends in spending, personal income, savings, and interest rates. The marketing firm is most likely gathering information about consumers' ________. a.brand affiliations b.economic situations c.occupational needs d. purchasing perceptions e. social network usage rates

b.economic situations

Fads are characterized by their ________. a.basic and distinctive modes of expression that seldom become unpopular b.non-attainment of the last two stages of the product life cycle c.unusually high sales and rapid decline d.low rates of adoption by consumers e.enduring nature that spans several generations

c.unusually high sales and rapid decline