Tariq - Exam 2 (MKT 4469)
While screening and evaluating ideas, a stop-to-market mistake happens when ________. A. a company decides to market a product that has a fatal flaw B. a good idea is pushed forward without knowing the ROI of its execution C. a good idea is prematurely eliminated during the screening process D. a company fails to stop a bad product idea from moving into product development
C.
Warranties that offer explicit product performance promises related to components of the product are known as ________ warranties. A. specific B. additional C. inclusive D. basic E. unlimited
A.
The ________ product extends the core product to include additional features, designs, and innovations that exceed customer expectations. A. specialized B. differentiated C. amended D. enhanced E. deviated
D.
A company's brand role includes ________. A. offering an effective and efficient methodology for categorizing products B. conveying information about a product C. helping reassure the customer in the purchase decision D. educating the customer about a product E. providing competitors with a benchmark against which to compete
A.
Combining all the products offered by a company is called the product ________. A. mix B. line C. standardization D. function E. profile
A.
Courtney always prefers Coca-Cola products. She does not consider other beverages, even when they are cheaper than Coca-Cola. Which of the following benefits of brand equity for customers does this exemplify? A. brand loyalty B. brand awareness C. brand strategy D. perceived bonuses E. brand assets
A.
During the maturity phase of the product life cycle, ________. A. sales grow, but at a rate lower than the growth stage B. sales are low, typically with high failure rate C. sales grow at an increasing rate in comparison to the growth stage D. long-run drop in sales takes place E. no growth in sales occurs
A.
Frequently purchased, relatively low-cost products for which customers have little interest in seeking new information and rely heavily on prior purchase behavior are called ________ goods. A. convenience B. consenting C. specialty D. shopping E. unsought
A.
In the context of positioning errors, when consumers have only a vague idea about the company and its products, and do not perceive any real differentiation, it is called ________. A. underpositioning B. repositioning C. fuzzy positioning D. uninformed positioning E. overpositioning
A.
New-to-the-world products are products that ________. A. have not been available before their introduction to the market B. are innovative but only slightly different than previous products C. are not disruptive to the marketplace D. make existing products more desirable E. have been available before but are recycled
A.
Pierre Cardin partnered with several other product manufacturers and attached its name to a wide assortment of products including clothing, housewares, and even cosmetics. Eventually, its brand image became diluted and lost its influence as a luxury manufacturer. Which of the following disadvantages of cobranding does this example illustrate? A. overexposure B. lack of brand awareness C. loss of control D. accommodation E. lack of perceived quality
A.
The innovation diffusion process is how long it takes a product to move from ________. A. first purchase to last purchase B. growth to maturity C. introduction to growth D. awareness to interest E. trial to adoption
A.
The marketing manager for DRNK Spirits decided that all of the products his company produced would carry the same brand name of Nightlife. As a result, there is Nightlife Ale, Nightlife Lager, Nightlife Vodka, Nightlife Tequila, and Nightlife Whiskey. This is an example of ________ branding. A. family B. cooperative C. store D. stand-alone E. national
A.
The razor is an example of a product that appeals to both men and women, but companies figured out that ________. A. there are different needs and wants for the same product category among different genders B. markets should not be segmented based on gender C. the same product class cannot be used to attack different gender markets D. all products are clearly marketed for the primary consumption of both men and women E. grooming equipment may be needed by men but certainly not by women
A.
Unsought goods are characterized as being the kinds of goods that consumers ________. A. would rather not purchase at all B. purchase solely for business purposes C. purchase solely for personal purposes D. do more research on and compare across product dimensions such as color, size, features, and price E. frequently purchase and have little interest in seeking new information about
A.
Which of the following characterizes the decline stage of the product life cycle? A. Significant price pressures come from competitors and consumers. B. Established competition makes price pressures more pronounced, forcing lower-price strategy if product not well-differentiated. C. Attractive price points are set to gain market share and discourage competitors. D. Existing models or earlier generations move down in price. E. New and improved models are sold at high price points.
A.
Which of the following statements is TRUE of repositioning? A. It involves understanding the marketing mix approach necessary to change present consumer perceptions of the product. B. It involves targeting a large portion of a small market. C. It is popularly called a focus strategy or a niche strategy. D. It advocates that firms should direct energy and resources into establishing a learning relationship with each customer.
A.
________ are product enthusiasts who enjoy being the first to try and master a new product. A. Innovators B. Laggards C. Early adopters D. Late majority E. Early majority
A.
________ brands enable manufacturers to leverage marketing resources by creating efficiencies in marketing communications and distribution. A. National B. Stand-alone C. Private D. Custom E. Licensed
A.
________ can be defined as anything that delivers value to satisfy a need or want and includes physical merchandise, services, events, people, places, organizations, information, even ideas. A. Product B. Market C. Exchange D. Strategy E. Utility
A.
________ goods are unique purchases made based on a defining characteristic for the consumer, which might be a real or perceived product feature, such as Apple iPhone's easy user interface. A. Specialty B. Shopping C. Capital D. Convenience E. Unsought
A.
An individual moves through five stages before adopting a product. The five stages include all of the following EXCEPT ________. A. adoption B. validation C. interest D. awareness E. evaluation
B.
An individual moves through stages before adopting a product. During the awareness stage, consumers ________. A. find they have a passion for the product B. know of the product, but have insufficient information to move forward through the adoption process C. receive additional information and be motivated to seek out added information for further evaluation D. purchase the product for the purpose of making a value decision E. purchase the product with the intent of becoming a dependable user
B.
Companies often use features to differentiate themselves from competitors. However, a company must balance the features customers want with ________. A. what the competition offers B. what customers will pay C. the configurations that make a positive brand look stylish D. the resources available for production E. the ability to manufacture the feature in a timely way
B.
Concentrated target marketing is often used by ________. A. software consulting firms that use Internet marketing B. start-up firms to enter a market as a focus player C. large companies t dominate a market
B.
Costco and Visa joined together to offer a Costco-Visa card that allows users to get rebates on their purchases at Costco while expanding the reach of Visa to Costco members. This is an example of ________. A. store branding B. cobranding C. family branding D. licensing E. stand-alone branding
B.
Differentiated target marketing means that a company is ________. A. offering different prices for different markets B. developing different value offerings for different targeted markets C. developing different products for the same market D. using a one-market strategy for different markets E. using the push and pull strategy to differentiate markets
B.
External sources of generating product ideas include ________. A. marketing executives B. customers C. employees from R&D D. salespeople E. customer service representatives
B.
Hazardous materials such as cleaning products, pesticides, and many other items require 14 different pieces of information be included on the label. This is an example of the ________ requirements of labeling. A. marketing B. legal C. consumer D. aesthetic E. industry
B.
In the ________ phase of the product life cycle (PLC), sales continue to increase but at a decreasing rate. A. decline B. maturity C. growth D. initial E. introduction
B.
Intel makes a product most people never see; however, it spends a great deal of money building its brand and now people ask for "Intel Inside." This is an example of linking the benefit of ________ to marketing strategy. A. brand image B. brad loyalty C. perceived bonuses D. brand connections E. brand standards
B.
International Delight coffee creamers frequently adds new flavors to its product offerings. This would be an example of a ________ extension. A. basic B. line C. natural D. category E. service
B.
More than any other product discriminator, style offers the advantage to a company of being ________. A. easy to do consistently over time B. difficult for competition to copy C. a low-cost differentiator D. associated with a high repairability E. able to ensure high quality
B.
Offering other manufacturers the right to use the brand in exchange for a set fee or percentage of sales is known as ________. A. family branding B. licensing C. benchmarking D. cobranding E. stand-alone branding
B.
Once market segments have been defined and analyzed and target markets have been selected for development, the firm must turn its attention to creating, communicating, delivering, and exchanging offerings that have value to the target markets. This process is known as ________. A. niche marketing B. positioning C. target marketing D. selling E. outsourcing
B.
Organizations communicate one or more sources of value to customers in a way that the customer can easily make the connection between his or her needs and wants and what the product has to offer. Execution of this approach is referred to as a firm's ________ strategy. A. production B. positioning C. sales D. distribution E. segmentation
B.
Products that are new-to-the-world create a fundamental change in the marketplace and are known as ________. A. technological transformations B. disruptive innovations C. convenience goods D. core products E. enhanced products
B.
Reliability is a product's ability to deliver on features and performance characteristics promised in marketing communications. A. true B. false
B.
The Symbian operating system came about from the cobranding effort of Nokia, Ericsson, Sony, Panasonic, Siemens, and Samsung. They license Symbian to a number of wireless manufacturers including LG and Fujitsu. Which of the following types of cobranding relationships does this exemplify? A. partnering with a variety of third-party financial institutions B. bringing multiple companies together to form a new branded product C. combining two of a company's own products D. retailers sharing the same retail location E. merging with the industry leader
B.
The marketing manager of Toddles Baby Food is redesigning the package for her product. She is trying to select a color that is visually appealing and is distinctive so that her brand is easy to identify. In the context of effective packaging, the marketing manager of Toddles is focusing on ________. A. quality B. aesthetics C. protection D. usage promotion E. harmony
B.
The owners of NK Medical Equipment have been developing the brand equity of their MRI and CAT scan equipment. Now, on the mention of NK's machines, radiologists and hospital purchasing agents usually say that they have heard of NK's offerings and are interested in learning more about them. This response signals a familiarity and potential commitment to the brand. In this case, which dimension of brand equity has been achieved by NKMedical Equipment? A. brand loyalty B. brand awareness C. perceived quality D. brand association E. brand assets
B.
________ segmentation divides customers into groups according to similarities in benefits sought or product usage patterns. A. Geographic B. Behavioral C. Educational D. Income E. Gender
B.
________ warranties are generally open to customers returning the product for a broad range of reasons beyond specific product performance problems. A. Limited B. General C. Controlled D. Basic E. Explicit
B.
A company can use its brand to expand into new product types. This is known as a ________. A. store branding B. franchise C. category extension D. brand association E. cobranding
C.
A marketing manager using VALS is interested in ________ segmentation. A. geodemographic B. educational C. psychographic D. geographic E. occupational
C.
A marketing manager using the database called PRIZM is interested in ________ segmentation. A. geographic B. occupational C. geodemographic D. psychographic E. educational
C.
A product ________ is a group of products linked through usage, customer profile, price points, and distribution channels. A. mix B. core C. line D. cycle E. form
C.
A(n) ________ is defined by the American Marketing Association as "a name, term, design, symbol, or any other feature that identifies one seller's goods or services as distinct from those of other sellers." A. trait B. product C. brand D. identity E. profile
C.
Advertisements with messages like "Orange juice—It's not just for breakfast anymore!" or "Soup can be a delicious way to start a cold winter's day" are using ________ segmentation. A. psychographic B. benefits sought C. usage patterns D. lifestyle E. geographic
C.
Age is a commonly used method of segmentation. Age alone, however, may be dangerous because ________. A. this approach presumes irregularity of consumer needs and wants by age B. chronological age and psychological age are the same C. grouping older customers into one group is an approach that fails to consider the vast differences in other important variables D. this approach ignores chronological age E. older consumers exhibit very little differences from person to person on things such as income, mobility, and work status
C.
Among the five groups of adopters, which group is considered critical to long-term success? A. innovators B. late majority C. early majority D. laggards E. early adopters
C.
An important issue for consumers is conformance, which is the product's ability to ________. A. get the manufacturing aligned using quality processes B. conform to the standards set by the federal guidelines C. deliver on features and performance characteristics promised in marketing communications D. deliver value in the form of product quality E. deliver additional features, designs, and innovations that exceed customer expectations
C.
Barb's Butters recently changed the shape of its packages from a pouch to a tub because product testing revealed that the tubs created less mess for consumers. Which of the following package objectives does the change in shape exemplify? A. protection B. aesthetic C. usage promotion D. harmony E. communication
C.
Companies sometimes pick a one-market strategy. This marketing approach is called ________. A. mass approach B. efficiency marketing C. undifferentiated target marketing D. low-cost approach E. differentiated strategy
C.
During which stage do consumers purchase a product with the intent of becoming a dependable user? A. trial B. awareness C. adoption D. interest E. evaluation
C.
Harold buys most of his groceries at Aldi because it has the cheapest groceries even though he has to bring his own bags and bag his own groceries. Aldi demonstrates ________ leadership. A. service B. image C. price D. innovative E. personnel
C.
Paedro's Pasta has developed a strong brand name in the dry pasta marketplace based on its texture and taste. Through its strong brand, Paedro's Pasta was able to introduce a successful line of sauces under the same brand name. Which of the following dimensions of brand equity does this example illustrate? A. brand strategy B. perceived bonuses C. perceived quality D. brand connections E. brand loyalty
C.
Primary target markets differ from secondary and tertiary target markets by the ________. A. average age of the consumers B. difficulty of attacking the market C. expected level of ROI derived from the market D. consumers' ability to buy multiple units
C.
Product followers who purchase older generation models with lower prices and fewer features are called ________. A. early adopters B. the early majority C. the late majority D. innovators E. laggards
C.
The marketing manager of Easy Peasy Vegetables is working on the package for a new line of self-steaming microwaveable vegetables. She wants the package to show a physically fit individual happily eating the product in order to connect the product to the customer. In this case, on which objective of packaging is the marketing manager focusing? A. harmony B. protection C. usage promotion D. aesthetic E. safety
C.
The Food and Drug Administration requires all processed-food companies to provide detailed nutritional information clearly identifying calories, fats, carbohydrates, and other information. This is an example of the ________ requirements of labeling. A. marketing B. industry C. consumer D. legal E. aesthetic
D.
American credit card companies would like to offer their services to people in a country in East Africa. However, they are finding it difficult because of language barriers and infrastructure challenges. These issues are related to which of the following questions about market segmentation? A. Is the segment of sufficient size to warrant investing in a unique value-creating strategy for that segment as a target market? B. Is the segment readily identifiable and can it be measured? C. Is the segment clearly differentiated on one or more important dimensions when communicating the value of the product? D. Can the segment be reached in order to deliver the value of the product, and subsequently can it be effectively and efficiently managed? E. Do the people in this market segment have access to sufficient financial resources?
D.
Approaches to geographic segmentation include all of these EXCEPT ________. A. density of population B. climate C. size of population D. gender of population E. region
D.
Clothes, furniture, and major appliances such as refrigerators and dishwashers are examples of ________ goods. A. capital B. unsought C. convenience D. shopping E. specialty
D.
During the evaluation stage of the product adoption process, consumers ________. A. get to know of the product, but have insufficient information to move forward through the adoption process B. purchase the product with the intent of becoming a dependable user C. seek out information to further define the product D. combine all information and assess the product for trial purchase E. purchase the product for the purpose of making a value decision
D.
Food product manufacturers are required to list the number of calories at the top of the nutrition panel. Posting calorie information is an example of meeting the ________ requirements of labeling. A. marketing B. aesthetic C. industry D. legal E. customer
D.
In the context of product classifications, tangibility refers to the ________. A. ability to create a combination of product and service B. service delivered with a product C. value of a product in the market D. physical aspects of a product E. fundamental need met by a product
D.
In the context of product testing, beta testing is designed to ________. A. clarify the basic operationalization of a product B. let engineers test a product's performance C. allow product specialists to check the quality of a product D. encourage customers to evaluate and provide feedback on a prototype E. give fake information to competitors about a new product
D.
Michael believes that the only motorcycle anyone should ever buy is a Harley-Davidson. Whenever he sees the Harley Davidson logo on a product, he knows that product is a leader in the market. What source of differentiation has Harley Davidson achieved? A. convenience B. price C. personnel D. image E. service
D.
Nickelodeon and Marriott partnered to create a kid-friendly chain of vacation-oriented hotels. Which of the following types of cobranding relationships does this exemplify? A. merger B. multiple company venture C. international brand combination D. joint venture E. colocation
D.
Once a product has been developed and is on the market, the company can extend the product by ________. A. upgrading or modifying existing products B. creating a fundamental change in the marketplace C. developing persuasive advertisements D. creating additions to existing product lines E. creating new names for the same products
D.
Positioning relies on the communication of one or more sources of value to customers in a way that the customer can easily make the connection between the ________. A. salesperson and the customer at a personal level B. cost of the product and the quality C. product and its advertising D. customer's needs and wants and what the product has to offer E. way the 4Ps of the marketing mix work with one another
D.
Procter & Gamble wanted Crest Vivid White Toothpaste to stand out from competitor brand toothpastes on store shelves, so it created a stand-up package and used a graphics-heavy box. In the context of objectives of packaging, the company focuses on ________. A. quality B. harmony C. usage promotion D. communication E. protection
D.
Segmenting markets means that a company is ________. A. identifying and calculating the churn rate in different markets B. selecting a corporate position to communicate to potential customers C. selecting the markets to attack in the marketplace D. dividing the market into meaningful smaller markets based upon common characteristics E. identifying the customers who have frequently purchased competitor's products or services
D.
The failure of Apple Newton, the first PDA, highlights the fact that ________. A. the essential component in delivering value is product pricing B. intense marketing communications can even make a wrong product successful C. people look for products that are technically superior D. the best product technically is not always the most successful product E. the essential benefit is not the fundamental need met by a product
D.
The product life cycle (PLC) defines the life of a product in four basic stages, which include ________. A. production, development, distribution, and enhancement B. awareness, interest, trial, and adoption C. primary, secondary, advanced, and nominal D. introduction, growth, maturity, and decline E. idea generation, creation, presentation, and promotion
D.
The region, the density of the population, and the size of the population are various approaches to use in ________. A. positioning B. differentiation C. population parameter estimation D. geographic segmentation E. democratic segmentation
D.
When a competitor used its logo in a disparaging way in an advertisement, Max Corp. sued. It won the suit on the basis that the competitor violated its trademark. Which company brand role does this scenario exemplify? A. providing competitors with a benchmark against which to compete B. helping reassure the customer in the purchase decision C. educating the customer about a product D. offering legal protection for a product E. offering an effective and efficient methodology for categorizing products
D.
Which of the following criteria for market segmentation is least likely to enable successful segmentation? A. It should be measurable. B. It should be reachable in terms of communication. C. It should be readily identifiable. D. It should be undifferentiated. E. It should be of sufficient size.
D.
Which of the following helps clarify the basic operationalization of a product during product testing, such as the physical characteristics and features? A. concept testing B. innovation diffusion process C. beta testing D. alpha testing E. business case analysis
D.
Which of the following is one of the basic principles behind segmentation? A. All customers are alike. B. Subgroups of customers are not similar. C. Members of a heterogeneous market cannot allow for dividing the market into subgroups. D. Subgroups will be smaller and more homogeneous than the overall market. E. In an undifferentiated market, each person has unique needs and wants.
D.
Which of the following questions about market segmentation relates to creation and execution of different marketing strategies to the different submarkets identified? A. Is the segment of sufficient size to warrant investing in a unique value-creating strategy for that segment as a target market? B. Is the segment readily identifiable and can it be measured? C. Can the segment be reached in order to deliver the value of the product, and subsequently can it be effectively and efficiently managed? D. Is the segment clearly differentiated on one or more important dimensions when communicating the value of the product? E. Can the segment be reached in terms of physical product?
D.
While developing a segmentation approach, Walter, the brand manager of a soft drinks manufacturing company says that a segment has sufficient size. He means that the market ________. A. is reachable B. has many customers in it C. has a large enough television audience to be worth considering D. can provide a positive return on investment E. is homogeneous
D.
Z brand is the market leader in small appliances. Its brand is also the strongest in the category and customers identify with the brand. Because of the strength of its brand, other competitors are finding it difficult to successfully enter the marketplace. Which of the following benefits of brand equity for brand sponsors does this exemplify? A. generalized warranty B. brand awareness C. perceived bonuses D. brand connections E. brand image
D.
________ is the focus of a product launch marketing plan, because if you can get consumers to use the product once, you can win them over with superior product design, features, and value. A. Adoption B. Interest C. Evaluation D. Trial purchase E. Awareness
D.
Among the five groups of adopters, product avoiders who want to evade adoption as long as possible are known as ________. A. the late majority B. early adopters C. the early majority D. innovators E. laggards
E.
An approach to segmenting consumer markets is ________ segmentation, which relies on consumer variables such as personality and AIOs (activities, interests, and opinions) to segment a market. A. occupational B. educational C. geographic D. gender E. psychographic
E.
An individual moves through stages before adopting a product. During the interest stage, consumers ________. A. purchase the product with the intent of becoming a dependable user B. feel, see, and touch the product C. purchase the product for the purpose of making a value decision D. evaluate the product for trial purchase E. seek out added information about a product for further evaluation
E.
Demographic segmentation is best described as using characteristics of ________ to segment the market. A. political stability B. geography C. government regulations D. economics E. human populations
E.
In marketing, differentiation is a concept that means ________. A. products need to appear to be different from one another to be successful in the marketplace B. evaluating different market segments and deciding which shows the most promise for development C. each age segment views products exactly the same D. consumer choices remain similar around the globe E. communicating and delivering value in different ways to different customer groups
E.
Internal sources of generating product ideas include ________. A. wholesalers B. distributers C. retailers D. existing customers E. company salespeople
E.
Mrs. Butterworth's syrup comes in a bottle shaped like a woman. The intent of this type of packaging is to transfer critical brand messages quickly through design cues since many competitor syrup brands come in teardrop-shaped bottles. The unique shape of the Mrs. Butterworth's bottle fulfils which objective of packaging? A. quality B. protection C. harmony D. usage promotion E. communication
E.
New purchases of new products are called ________ purchases. A. replacement B. original C. subliminal D. repeat E. trial
E.
Pamela only bought her cars from Lexis because they made it so easy to get them serviced by picking her car up and bringing it back to her. Lexis shows ________ leadership. A. personnel B. image C. price D. innovative E. service
E.
The marketing manager of a store brand pain reliever is designing the package for its new gel-coated capsules. Her main concerns are to design a package that prevents tampering with its contents and keeps children from accessing the product without adult assistance. On which of the following objectives of packaging is the marketing manager focusing? A. aesthetics B. usage promotion C. harmony D. communication E. protection
E.
When a company only hires employees who are competent, reliable, courteous, credible, responsive, and able to communicate clearly, it achieves ________ leadership as a source of differentiation. A. image B. convenience C. price D. service E. personnel
E.
When a company tries to make the product or service significantly easier to obtain than the competition, it is trying to achieve ________ leadership as a source of differentiation. A. image B. personnel C. service D. price E. convenience
E.
Which of the these reflects a customer brand role? A. Brands provide competitors with a benchmark against which to compete. B. Brands offer legal protection for a product through a trademark. C. Brands enable companies to defend essential product elements. D. Brands offer an effective and efficient methodology for categorizing products. E. Brands convey information about a product.
E.
With brand ________, customers develop a number of emotional, performance, and psychological connections with a brand. A. awareness B. link C. validity D. identity E. association
E.
________ segmentation is sometimes referred to as segmentation by lifestyle or values. A. Educational B. Geographic C. Occupational D. Gender E. Psychographic
E.