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