Exam 2 Ch 5, 6, 7, 8

At which stage of the new product development process is a physical product first​ developed? A. Test marketing B. Marketing strategy development C. Product development D. Idea generation E. Concept development and testing

C. Product development

H2Coast, an automobile​ manufacturer, produces​ fuel-efficient hybrid vehicles that are targeted toward​ middle-income consumer groups. H2Coast most likely segments the consumer market based on​ ________ variables. A. universal B. geographic C. demographic D. behavioral E. psychographic

C. demographic

​Heeltoe, a boutique that caters to the footwear needs of​ women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of​ affluent, middle-aged​ women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on​ ________ variables. A. universal B. psychographic C. demographic D. geographic E. behavioral

C. demographic

When Dr. Lawncare developed his revolutionary new solar powered​ lawnmower, he knew that during the introductory stage of the product lifecycle​ ___________. A. profits would rise quickly and there would be rapid market acceptance of his product. B. sales would be low but profits would be high C. sales would be slow and profits​ non-existent D. sales would fall and profits would drop E. sales would be slow and profits would level off or decline

C. sales would be slow and profits​ non-existent

In a​ _________, the​ business-to-business buyer reorders something without modifications. A. new task B. buying decision C. straight rebuy D. system selling E. modified rebuy

C. straight rebuy

Which type of consumer products are frequently purchased with little​ planning, little comparison or shopping​ effort, and low customer​ involvement? A. Shopping products B. Industrial products C. Capital products D. Convenience products E. Specialty products

D. Convenience products

Which type of market segmentation has long been used in​ clothing, cosmetics,​ toiletries, and​ magazines? A. Income B. Occasion C. Usage rate D. Gender E. Benefits sought

D. Gender

________ involves dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies. A. Differentiation B. Mass marketing C. Market targeting D. Market segmenting E. Positioning

D. Market segmenting

When​ Coca-Cola saw the growth of the bottled water​ category, they launched​ Dasani, its brand of bottled water. Which brand development strategy did​ Coca-Cola use in launching​ Disani? A. Brand extension B. Licensing C. Multibranding D. New brand E. Line extension

D. New brand

Nailit Cosmetics is advertising its newest line of nail polishes. Nailit is selling the products in specially designed bottles that make application​ easier, made from a​ non-toxic, water-based nail polish with amazing summer colors. Which of the following is a core customer value for​ Nailit's line of​ polishes? A. The Nailit brand B. The​ products' revolutionary packaging C. The natural ingredients D. The desire to have beautiful nails E. The​ non-toxic properties of the products

D. The desire to have beautiful nails

Which of the following statements about new product development strategy is​ correct? A. New products are usually successful because consumers like new things. B. Good advertising creates successful new products. C. A new product will succeed as long as it is priced correctly. D. New products are not a major source of growth for companies. E. Innovation can be very expensive and very risky.

E. Innovation can be very expensive and very risky.

When Doritos comes out with new flavors of its tortilla​ chips, what brand development strategy does it​ employ? A. New brand B. Brand extension C. Store brand. D. Multibrand E. Line extension

E. Line extension

Which of the following would be an appropriate strategy during the maturity stage of the product​ lifecycle? A. Use promotional spending to inform consumers and get them to try the product. B. Shift some advertising from building product awareness to building product conviction and purchase. C. Select products to​ maintain, harvest or drop. D. Produce basic versions of the product and focus on selling to those buyers who are the most ready to buy. E. Modify the​ market, product offering and marketing mix

E. Modify the​ market, product offering and marketing mix

When manufacturers launch products using their own brand​ names, which sponsorship option are they​ using? A. ​Co-branding B. Store branding C. Distributor branding D. Private branding E. National branding

E. National branding

_________ refers to the degree to which innovation appears superior to existing products. A. Communicability B. Compatibility C. Complexity D. Divisibility E. Relative advantage

E. Relative advantage

​_________ is NOT a characteristic important in influencing an​ innovation's rate of adoption. A. Motivation B. Relative advantage C. Complexity D. Communicability E. Divisibility

A. Motivation

Which of the following is a variable used to segment consumer buyers that is not used to segment business​ buyers? A. Psychographics B. Personal characteristics C. Operating characteristics D. Situational factors E. Purchasing approaches

A. Psychographics (the study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.)

Which brand dimension is defined as how consumers feel a brand meets their​ needs? A. Relevance B. Knowledge C. Equity D. Esteem E. Differentiation

A. Relevance

Identifying, describing and promoting the product are three functions of​ ______. A. labeling B. support services C. packaging D. design E. product lines

A. labeling

Toyota allows Scion buyers to customize their cars to meet their exact needs and preferences. This is an example of​ ____________. A. micromarketing B. segmented marketing C. undifferentiated marketing D. concentrated marketing E. differentiated marketing

A. micromarketing (the practice of tailoring practice and marketing programs to suit the tastes of specific individuals and locations)

To create successful new​ products, a company must​ _______. A. understand its​ consumers, markets, and competitors and develop products that deliver superior value B. focus their new product development efforts only on consumers C. obtain successful products through acquisitions instead of doing internal development D. spend more on​ R&D that its competitors E. cut costs to keep the price of new products low

A. understand its​ consumers, markets, and competitors and develop products that deliver superior value

​______________ is the first stage in the new product adoption process. A. Trial B. Awareness C. Evaluation D. Adoption E. Interest

B. Awareness

Which of the following is NOT a product life cycle​ (PLC) stage? A. Maturity B. Commercialization C. Decline D. Introduction E. Growth

B. Commercialization

At which stage of the new product development process is crowdsourcing​ used? A. Idea screening B. Idea generation C. Product development D. Commercialization E. Marketing strategy development

B. Idea generation

Which of the following statements regarding the business market is​ correct? A. The business market has more buyers than the consumer market. B. Many sets of business purchases are made for one set of consumer purchases. C. In the business market buying​ process, buyers and sellers are less dependent on each other than in the consumer market. D. The business market is not as large as the consumer market in terms of dollars spent and items purchased. E. Business buying decisions are less complex than consumer buying decisions.

B. Many sets of business purchases are made for one set of consumer purchases.

What is the first step of the buyer decision​ process? A. Postpurchase behavior B. Need recognition C. Alternative evaluation D. Purchase decision E. Information search

B. Need recognition

Consumers can obtain information from any of several sources. Which source is the most effective in that they legitimize the​ product? A. Media sources B. Personal sources C. The Internet D. Public sources E. Commercial sources

B. Personal sources

Through​ _____ a company can obtain new products by buying a whole​ company, a​ patent, or a license to produce someone​ else's product. A. idea generation B. acquisition C. new product development D. internal​ R&D E. product life cycle strategies

B. acquisition

Materials and​ parts, capital​ items, and supplies and services are groups of​ _____ products. A. specialty B. industrial C. unsought D. convenience E. shopping

B. industrial

The marketing manager at​ Arbor's Delicatessen targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of​ low-fat, low-calorie meals that appeal to dieters.​ Arbors' approach is best referred to as​ ________ segmentation. A. age and life cycle B. psychographic C. benefit D. user status E. geographic

B. psychographic

When a company lengthens a product line by adding more items beyond its current​ range, they are​ ________. A. increasing the width of their product mix B. stretching the line C. filling the line D. decreasing the width of their product mix E. decreasing the depth of the line

B. stretching the line

One problem with​ business-to-business e-procurement is that it​ _______. A. increases the time between order and delivery B. can erode​ long-standing customer-supplier relationships C. increases transaction costs D. increases paperwork requirements E. reduces purchasing efficiency

B. can erode​ long-standing customer-supplier relationships

Most products are at which stage of their product​ lifecycle? A. Product development B. Decline C. Maturity D. Introduction E. Growth

C. Maturity

Which of the following statements is correct concerning service marketers going​ global? A. Due to the nature of their​ business, professional service firms cannot expand their business to foreign markets. B. One industry that still has not globalized is retailing. C. The trend toward growth of global service companies is expected to continue in the near future. D. The growth of global service companies is expected to decline in the near future. E. Compared to product​ marketers, service marketers do not face any additional challenges when going global

C. The trend toward growth of global service companies is expected to continue in the near future.

Which of the following statements about service marketing is​ correct? A. Service marketers do not need to differentiate their offerings. B. Due to the variability of​ services, top service companies set modest​ service-quality standards. C. Training current employees better and hiring new ones with more skills can increase service productivity. D. Companies should strive to streamline services to increase efficiency. E. It is easier to define service quality than product quality.

C. Training current employees better and hiring new ones with more skills can increase service productivity.

In the early​ 1970's, Gary Dahl sold pet rocks. The product had a​ short, temporary period of unusually high sales driven by consumer enthusiasm and immediate product​ popularity, but then sales declined very quickly. The PLC sales pattern for pet rocks is known as​ ______. A. a failure B. a fashion C. a fad D. a style E. a normal product life cycle curve

C. a fad

Marketers must be careful to guard against stereotypes when using​ ________. A. demographic segmentation B. psychographic segmentation C. age and life cycle segmentation D. income segmentation E. benefits segmentation

C. age and life cycle segmentation

If competitors cannot easily copy the benefit a company chooses to​ promote, that benefit is said to be​ _________. A. affordable B. superior C. preemptive D. distinctive E. profitable

C. preemptive (competitors cannot easily copy the difference)

Which of the following would make a segment less attractive to​ enter? A. Very few substitute products B. Suppliers with weak bargaining power C. Buyers with weak bargaining power D. New entrants finding it easy to enter the segment E. A lack of aggressive competitors

D. New entrants finding it easy to enter the segment

Which of the following needs in​ Maslow's hierarchy is generally satisfied​ first? A. Social needs B. Safety needs C. ​Self-actualization needs D. Physiological needs E. Esteem needs

D. Physiological needs

​______ 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. Differentiation B. Market segmentation C. Mass marketing D. Positioning E. Market targeting

D. Positioning

Which of the following is a social factor that influences consumer buying​ behavior? A. Personality B. ​Life-cycle stage C. Economic situation D. Roles and status E. Occupation

D. Roles and status

What determines if a buyer is satisfied or dissatisfied with a​ purchase? A. Whether or not the buyer experiences cognitive dissonance B. How others feel about the purchase C. The number of alternatives considered in the purchase decision D. The relationship between the​ consumer's expectations and the​ product's perceived performance E. The amount of information gathered in the decision process

D. The relationship between the​ consumer's expectations and the​ product's perceived performance

The value of customer relationships that a brand creates is called​ _______. A. brand value B. customer value C. brand differentiation D. customer equity E. brand equity

D. customer equity

Service​ _______ means that services cannot be​ seen, tasted,​ felt, heard, or smelled before they are bought. A. inseparability B. perishability C. variability D. intangibility E. packaging

D. intangibility

Service marketing requires​ ________. This means that the service firm must orient and motivate its​ customer-contact employees and supporting service people to work as a team to provide customer satisfaction. A. interactive marketing B. external marketing C. image differentiation D. internal marketing E. the service firm to focus only on the customer

D. internal marketing

_________ refers to the practice of including ethnic themes and​ cross-cultural practices within a​ company's mainstream. A. Guerilla marketing B. Cause marketing C. Viral marketing D. Buzz marketing E. A total market strategy

E. A total market strategy

At one​ time, Miller Beer was known as the​ "champagne of bottled​ beer." It was targeted at an elite class of customers.​ Later, to increase​ sales, Miller was repositioned to attract members of the​ working, middle-class. What is this segmentation method​ called? A. Behavioral B. Usage rate C. Benefit D. User status E. Psychographic

E. Psychographic (the study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.)

In which type of buying situation will a buyer usually go through all the stages of the business buying​ process? A. A new task buying situation B. A straight rebuy C. The purchase of a business service D. A modified rebuy E. The purchase of raw materials

A. A new task buying situation

The website leftyslefthand.com markets products to​ left-handed consumers only. Which targeting strategy does this​ represent? A. Concentrated marketing B. Micromarketing C. Undifferentiated marketing D. Differentiated marketing E. Segmented marketing

A. Concentrated marketing

Byron Tied 2 Bowties groups its customers by regions in the United​ States, such as​ Midwest, Northeast, and Southwest. For each​ region, Byron Tied 2 Bowties creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its​ market? A. Geography B. Benefits sought C. Demographics D. Personality E. Behavior

A. Geography

In determining product​ quality, what are the two dimensions of quality marketers must decide​ upon? A. Level and consistency B. Consistency and conformance. C. Consistency and packaging. D. Level and price E. Level and conformance.

A. Level and consistency

Which of the following lists the five steps of the buyer decision process in the correct​ order? A. Need​ recognition, information​ search, evaluation of​ alternatives, purchase​ decision, and postpurchase behavior. B. Purchase​ decision, need​ recognition, information​ search, evaluation of​ alternatives, and postpurchase behavior. C. Need​ recognition, information​ search, purchase​ decision, evaluation of​ alternatives, and postpurchase behavior. D. Need​ recognition, purchase​ decision, information​ search, evaluation of​ alternatives, and postpurchase behavior. E. Need​ recognition, evaluation of​ alternatives, information​ search, purchase​ decision, and postpurchase behavior.

A. Need​ recognition, information​ search, evaluation of​ alternatives, purchase​ decision, and postpurchase behavior.

Which of the following statements regarding the important decisions in the development and marketing of individual products is​ correct? A. Product attributes that communicate and deliver benefits to the consumer include​ quality, features, and style and design. B. How a product is branded is separate from the development and marketing of individual products. C. Determining product support services is not part of the development of individual products. D. Packaging decisions are not an important part of developing individual products. E. Product labelling is no longer subject to legal regulation.

A. Product attributes that communicate and deliver benefits to the consumer include​ quality, features, and style and design.

Which of the following is considered part of an augmented product rather than that of an actual product or core customer​ value? A. Warranty B. Brand name C. Design D. Packaging E. Product features

A. Warranty

When marketers want to promote their products and services through​ word-of-mouth marketing​ programs, they typically begin by​ ________. A. generating​ person-to-person brand conversations B. identifying and targeting late adopters C. withdrawing from online social networks D. developing print and radio advertisements E. pushing​ one-way commercials at customers

A. generating​ person-to-person brand conversations

The Learning Institute recently conducted a brainstorming session that generated a large number of ideas for adding new products and services. Learning Institute managers will most likely use​ ________ next to arrive at a realistic number of ideas to adopt. A. idea screening B. concept testing C. concept development D. crowdsourcing E. business analysis

A. idea screening

Age, personality, buying​ style, and job position are​ ________ factors that can influence the business buying decision process. A. individual B. interpersonal C. organizational D. economic E. cultural

A. individual

A company launching a new product at the commercialization stage of new product development must first decide on​ ___________. A. introduction timing B. the value proposition C. market share goals D. profit goals E. the target market

A. introduction timing

Firms that manufacture seasonal products target their consumers primarily through​ ________ segmentation. A. occasion B. income C. age and life cycle D. psychographic E. demographic

A. occasion

Items such as technical​ specifications, quantity, delivery​ time, return policies and warranties are included in the​ ____________. A. order routine specification B. proposal solicitation C. product specification D. supplier selection E. general need description

A. order routine specification

To be more socially​ responsible, some companies are appointing​ _____________. Their job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems. A. product stewards B. product champions C. product managers D. attorneys E. brand managers

A. product stewards

Dividing buyers into groups based on social​ class, lifestyle, or personality characteristics is called​ ________ segmentation. A. psychographic B. geographic C. user status D. behavioral E. age and life cycle

A. psychographic

Installing an innovation management system to​ collect, review,​ evaluate, and manage new product ideas represents​ a(n) ______________ approach to new product development. A. systematic B. ​customer-centered C. sequential D. ​team-based E. crowdsourced

A. systematic

Which of the following is a personal factor that influences a​ consumer's buying​ behavior? A. Family B. Occupation C. Status D. Motivation E. Social networks

B. Occupation

__________ show consumer perceptions of their brands versus those of competing products on important buying dimensions. A. Competitively positioned maps B. Perceptual positioning maps C. Target segment maps D. Competitive maps E. Psychographic maps

B. Perceptual positioning maps

For which service characteristic do marketers need to pay close attention to fluctuations in​ demand? A. Inseparability B. Perishability C. Intangibility D. Variability E. Tangibility

B. Perishability

If a segment is large enough or profitable enough to​ serve, it is​ ________. A. measurable B. substantial C. actionable D. accessible E. differentiable

B. substantial

Intuit follows a​ "Design for Delight​ (D4D)" development philosophy that products should delight customers by providing experiences that exceed expectations. Which new product development approach is Intuit​ using? A. Crowdsourcing B. ​Customer-centered new product development C. Marketing strategy development D. ​Team-based new product development E. Systematic new product development

B. ​Customer-centered new product development

Which of the following types of marketing involves creating opinion leaders to serve as brand ambassadors to spread the word about a​ company's products? A. Direct marketing B. Values marketing C. Buzz marketing D. Social marketing E. Traditional marketing

C. Buzz marketing

Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial​ products? A. Wealthy consumers B. Females C. Children D. Single households E. Baby Boomers

C. Children

What is the nature of demand in business​ markets? A. Demand in business markets does not fluctuate. B. Demand in business markets is elastic. C. Demand in business markets is derived demand. D. Business market demand is independent of consumer market demand. E. Demand in business markets fluctuates less than in consumer markets.

C. Demand in business markets is derived demand.

Sales are rising​ rapidly, competitors are growing in number and the customers are early adopters. Which stage of the PLC does this​ describe? A. Decline B. Introduction C. Growth D. Maturity E. Product development

C. Growth

When we see Hello Kitty on​ children's clothing, Disney characters on​ lunchboxes, and Sponge Bob Squarepants on breakfast​ cereals, which form of brand sponsorship is being​ used? A. National branding B. Private branding C. Licensing D. ​Co-branding E. Store branding

C. Licensing

Which of the following statements concerning new products is​ correct? A. Products that are merely improved in some way are not considered new. B. To be considered​ new, the product must be something consumers have not seen before. C. Modified and improved products are considered new. D. Most new products succeed within two years of their introduction. E. A modified product is not considered a new product.

C. Modified and improved products are considered new.

Which of the following statements is true regarding​ packaging? A. Packaging does not impact product safety. B. Packaging does not influence the consumer buying decision. C. Packaging can be an important part of a​ brand's identity. D. Packaging is not used to gain a competitive advantage. E. Packaging is not an important consideration in product strategy.

C. Packaging can be an important part of a​ brand's identity.

Your local pizzeria promises​ "Delivery in 30 minutes or less or the pizza is​ free." What point of differentiation is​ this? A. People differentiation B. Product differentiation C. Services differentiation D. Image differentiation E. Channel differentiation

C. Services differentiation

After ideas are​ screened, the next stage of the new product development process is​ _____. A. product development B. test marketing C. concept development and testing D. idea generation E. commercialization

C. concept development and testing

If a company adds a new product line to its existing​ portfolio, it has increased its​ _________. A. product support services B. product line length C. product mix width D. product mix consistency E. product mix depth

C. product mix width

Which of the following statements is true regarding standardizing products for international​ markets? A. Markets and consumers all over the world are​ alike, so a company should always standardize international products. B. Standardization increases product​ design, manufacturing, and marketing costs. C. Standardization decreases product​ design, manufacturing, and marketing costs. D. Standardization ensures that products will succeed in foreign markets. E. Standardization helps a company develop a different image in different countries.

C. Standardization decreases product​ design, manufacturing, and marketing costs.

​________ segmentation calls for dividing the market into different​ nations, regions,​ states, counties,​ cities, or even neighborhoods. A. Demographic B. Income C. Lifestyle D. Geographic E. Behavioral

D. Geographic

This adopter group is skeptical and only adopts new products after a majority of people has tried it. A. Innovators. B. Early adopters. C. Early mainstream. D. Late mainstream. E. Lagging adopters.

D. Late mainstream.

Which of the following statements is true regarding product life cycle​ curves? A. Once a product reaches the decline​ stage, it cannot be recycled back to growth. B. All products follow the traditional​ 5-stage PLC model. C. Marketing strategies do not change for different life cycle stages. D. Marketers do not know the exact shape and length of their​ product's life cycle in advance. E. Managing products through their life cycle is an easy task

D. Marketers do not know the exact shape and length of their​ product's life cycle in advance.

Which of the following statements regarding socially responsible product decisions is​ correct? A. Companies can safely ignore patent laws. B. Manufacturers are generally not concerned with product liability. C. When companies drop​ products, they do not have any obligations to​ suppliers, dealers and customers. D. The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition. E. Safety legislation has been passed to regulate chemical substances and drugs and​ poisons, but not​ toys, automobiles and fabrics.

D. The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition.

According to the model of buyer​ behavior, what is in a​ buyer's black​ box? A. Cultural forces B. The four Ps C. Purchase behavior D. The​ buyer's characteristics and the​ buyer's decision process E. Attitudes and preferences

D. The​ buyer's characteristics and the​ buyer's decision process

Which of the following is a pure tangible​ good? A. A meal at a restaurant B. A medical checkup C. Financial advice D. Toothpaste E. A spa treatment

D. Toothpaste

The quality of services depends on who provides them as well as​ when, where, and how they are provided. Which characteristic of services does this​ describe? A. Perishability B. Intangibility C. Inseparability D. Variability E. Tangibility

D. Variability

Grocers in neighborhoods with a large Hispanic population typically carry more brands that Hispanic consumers prefer than grocers in other neighborhoods. This is an example of​ ________. A. differentiated marketing B. concentrated marketing C. individual marketing D. local marketing E. undifferentiated marketing

D. local marketing (involves tailoring brands and promotions to the needs and wants of local customers)

All the people involved in the buying decision in an organization are collectively known as​ _______. A. the purchasing team B. buying actors C. buying agents D. the buying center E. the buying nucleus

D. the buying center

Kroger sponsors such brands as Private​ Selection, Heritage​ Farm, and Simple Truth. Kroger does not manufacture any of these products. Which type of brand sponsorship is Kroger​ using? A. A​ manufacturer's brand B. A national brand C. A licensed brand D. A​ co-brand E. A private brand

E. A private brand

Which of the following correctly defines a​ product? A. A product is not a part of the overall market offering. B. Products include tangible objects and services but not events or people. C. Products have two levels dash- the actual product and the augmented product. D. Products are only tangible objects offered to a market to satisfy a want or need. E. A product is anything offered to a market that might satisfy a need or want.

E. A product is anything offered to a market that might satisfy a need or want.

Which of the five characteristics identified in the text has an inverse relationship with an​ innovation's rate of​ adoption? As this characteristic​ increases, the rate of adoption is slower. A. Compatibility B. Divisibility C. Communicability D. Relative advantage E. Complexity

E. Complexity

A company can differentiate itself from competitors using symbols such as​ McDonald's golden​ arches, Twitter's​ bird, and the Nike swoosh. Which type of differentiation is​ this? A. People differentiation B. Channel differentiation C. Services differentiation D. Product differentiation E. Image differentiation

E. Image differentiation

Which of the following is an external source of new product ideas for a​ company? A. Hackathons B. Intrapreneurial programs C. Innovation D. ​R&D E. Trade magazines

E. Trade magazines

Which of the following statements is true regarding managing service​ quality? A. Service recovery is unimportant in managing service quality. B. Customer retention is not related to service quality. C. Setting standards is not important in delivering service quality. D. Service quality is easier to define and judge than product quality. E. Unlike product​ quality, service quality will always vary.

E. Unlike product​ quality, service quality will always vary.

​Kidcomp, an American​ computer-manufacturing firm, targets children below the age of ten by providing free games and applications. The​ firm's marketing approach is reflective of​ ________ segmentation. A. income B. gender C. geographic D. occasion E. age and life cycle

E. age and life cycle

Goldtone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of​ short-listed ideas will be adequately rewarded. In this​ case, Goldtone is using​ ________ to generate new product ideas. A. concept development B. business analysis C. test marketing D. marketing strategy development E. crowdsourcing

E. crowdsourcing

When a product is in the decline stage of the​ PLC, a company may reduce various costs​ (plant and​ equipment, maintenance,​ R&D, advertising, sales​ force), hoping that sales hold up. In other​ words, they are​ ________ the product. A. growing B. milking C. dropping D. maintaining E. harvesting

E. harvesting

A purse​ company's ads feature the members of a popular housewives reality show. Product sales increase significantly among the fans. From the​ fans' viewpoint, the housewives reality show is​ a(n) _____. A. membership group B. ​late-majority adopter C. family group D. lagging adopter E. reference group

E. reference group

Many marketers think that companies should aggressively promote only one benefit to the target market. The benefit promoted is known as​ a(n) ________. A. unique product proposition B. unique difference proposition C. unique position proposition D. unique benefit proposition E. unique selling proposition

E. unique selling proposition