Marketing

In which of the following would the buyer reorder a product without any modifications?

Straight Rebuy

The decision-making unit of a purchasing organization is called its ________

buying center

Introducing a new product into the market is called ________.

commercialization

With a ______ marketing strategy, a firm goes after a large share of one or a few smaller niches

concentrated

The simplest pricing method is ________ pricing

cost-plus

What sets the ceiling for product prices?

customer perceptions of the product's value

Service _______ means that services cannot be seen, tasted, or felt before they are bought

intangibility

In the idea screening stage of new product development, marketers must ask:

is the idea real? Can we win with our idea? Is it worth doing?

Different soft drinks target different personalities. This is an example of ______ segmentation

psychographic

Under ________, the market consists of many buyers and sellers trading in a uniform commodity.

pure competition

Overhead costs ________ as the number of units produced increases.

remain the same

A business purchase usually involves all of the following EXCEPT

smaller buyers and lower purchase volume

Which of the following is an example of a shopping product?

washing machine

The biggest Disadvantage of E-Procurement is:

Erodes the relationship between the buyer and seller

________ occurs when a company lengthens its product line beyond its current range.

Product line stretching

A segment is less attractive if it ________.

already contains many strong and aggressive competitors

Consumers who show allegiance to brands, stores, or companies help marketers to segment by ____

degree of loyalty

Business demand that ultimately comes from the demand for consumer goods is known as

derived demand

Brand ________ refers to how highly consumers regard and respect the brand.

esteem

Which of the following is NOT one of the major variables used in segmenting consumer markets?

ethical

The demand for business goods tends to change more, and more quickly. This is known as:

fluctuating demand

A(n) ________ controls the flow of information to others in the buying center.

gatekeeper

______ involves introducing less-expensive versions of established, brand name products?

good-value pricing

A new task situation presents ________.

greatest opportunity & greatest challenge to the marketer

Rapid market acceptance and increasing profits is during which part of the product life cycle?

growth

If demand hardly changes with a small change in price, the demand is ________.

inelastic

Which stage in the PLC normally lasts longest and poses strong challenges to marketing managers

maturity

Marketing objectives in the Growth Stage of the PLC are:

maximize market share & build engagement

When size, purchasing power, & profile of a market segment can be calculated, the market is ___

measurable

Product improvements, product modifications, & original products can all be classified as _____

new products

The Strongest brands are positioned:

on strong beliefs and values

________ refers to the amount of money charged for a product or service.

price

The first step of the business buying process is ________.

problem recognition

Product attributes include all of the following EXCEPT _______

product line placement

A ________ consists of all the product lines and items that a particular seller offers for sale

product mix

_______is the way the product is defined by consumers on important attributes

product position

The most important consideration when managing new product development is:

that is be customer- centered

Companies that enjoy lower production costs as a result of efficiencies earned over time enjoy:

the experience curve

When is test marketing more likely?

uncertainty about the product's success

What type of marketing approach seeks to target the entire market with one promotional offer?

undifferentiated or mass marketing