Marketing Final Review

A(n) ___ is used to add depth to existing product lines in order to support the product mix

Addition to an existing product line

A mass market is ___

All people and organizations that might purchase a product

When conducting formal research, the step that involves data mining and creating graphs

Analyzing the data

The value of having a well-known brand name

Brand equity

Which of the following is not considered a tangible element of a brand?

Brand promise

A plan to develop a brand in a way that supports the goals of the business is known as

Branding strategy

Consists of gathering, storing, and using customer data for marketing directly to customers

Database marketing

If Nabisco decided to add in a flavor of Oreo's, they would be doing what to their product mix?

Expanding the product depth of Oreos

Services are different from goods in four important ways. What are they?

Intangible, inseparable, variable, perishable

A formal meeting between two or more people to obtain certain information

Interview

What are the four stages of the product life cycle?

Introduction, growth, maturity, decline

A ___ buying decision is one requiring some amount of research and planning

Limited

Gathering and analyzing information to help make sound marketing decisions

Market research

Focuses on satisfying customers as the means of achieving profit goals

Marketing concept

Which is NOt one of the metrics for gauging the effectiveness of a promotional campaign

Publicity-metrics

Which type of business is similar to a routine buying decision for a consumer?

Repeat purchase

Which of the following is a disadvantage of offering credit to customers?

The possibility of credit not being repaid

Family size is considered a demographic

True

Market segmentation is the process of dividing a large marketing into smaller groups

True

Population density segments include urban, suburban, and rural areas

True