Marketing review

There are only two basic strategies for selecting target markets: the undifferentiated targeting strategy and the concentrated targeting strategy

False

Using surveys to conduct marketing research is an example of environmental analysis

False

A research technique is said to be reliable if it produces almost identical results in successive repeated trials

True

Early adopters are the first group of consumers to adopt a new product

True

Many products never get beyond the introduction stage

True

Marketing analytics can help marketers identify how to develop better targeted marketing campaigns

True

One condition for effective segmentation is that at least one segment must have substantial profit potential

True

Patronage motives influenced where one purchases on a regular basis

True

Surnames are difficult to protect as brand names

True

Vendor analysis is a formal, systematic evaluation of current and potential vendors that focuses on a variety of dimensions including price, product quality, delivery service, product availability, and overall company reliability

True

Several conditions must exist for market segmentation to be successful. These conditions include all of the following except

Customers' needs for the product must be homogenous

Which of the following is not a stage in the buyer's product adoption process?

Exploration

The factors that influence business buying behavior are the same as those that influence consumer buying behavior

False

I. In the strategic planning process, marketers conduct their SWOT analysis before developing corporate and business unit strategies

False

In developing a company sales forecast, the forecasting methods are limited to surveys and correlation methods

False

In general, when marketers focus on customers chosen for their lifetime value, they earn lower profits in future periods than when they focus on customers selected for other reasons.

False

Once initiated, the consumer buying decision process always leads to a purchase

False

Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept

False

The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets

False

The basic purpose of packaging is to create eye appeal

False

To maintain market share and revenue in an increasingly price sensitive market, companies have have focused on quality, used labor saving technologies, and used efficient manufacturing processes. These tactics have provided gains in productivity that have translated ___ for the consumer.

Lower costs for the company and lower prices

Which of the following products is an example of a manufacturer brand?

Sony TVs

A product line includes a group of closely related product items that are considered to be a unit because of marketing, technical, or end use considerations

True

When marketing to business customers, marketers have to understand the key characteristics of the business customers and after alter their marketing mix accordingly. For example, a business customer views ___ as the amount of investment necessary to obtain a desired level of its return of savings. Moreover, the business customer demands ___ before buying to be sure their needs are being met with the products

Price; detailed information

Marketers who attempt to influence and change the various environmental forces that have a(n) ___ response to these forces

Proactive

Deciding to add gel insoles to its running shoes would be a changing in the ___ element of the marketing mix for Nike

Product

Duds and Suds is a bar with a country and western atmosphere. I additions to the bar, Duds and Suds has a gift shop that sells western clothing with its logo. Norman is the owner of the business and he recently enacted temporary price reductions through clearance sales, discounts, and nightly drink specials. What is Norman most likely trying to do?

Raise cash quickly

Vanessa went to a five star restaurant that had great reviews. The atmosphere was wonderful and she enjoyed the company of her friends and her boyfriend, Paul. However, at the table next to them eat a family with five kids. The kids were very loud and often ran around. Vanessa, who is not very fond of kids, was very annoyed. When she left the restaurant, she remarked to her friend that she didn't see what all the hype over the restaurant was about. Vanessa was most likely influenced by ____

Social surroundings

In which stage of a product's life cycle is the firm focused on establishing and fortifying the product's market position by encouraging brand loyalty?

The growth stage

When a firm's packages are designed to appear to be quite similar, the firm is using family packaging

True

A market orientation is an organization wide effort that includes all of the following activities except

focusing on the marketing department only

When more information is needed about a problem and a tentative hypothesis needs to be made more specific, marketers usually conduct ____ research.

exploratory

Jose went skiing one weekend with several of his friends. While at the slope, Jose injured his leg and needed to see a doctor. Jose is likely going to view solutions to his problem as

unsought products