MKT 300 Exam 2 HW Questions
Emergency Product
A product purchased due to an unexpected event and for which the consumer has an urgent need.
Malcolm Baldrige National Quality Awareness
A program designed to raise quality awareness and practice among U.S. businesses.
Attitude
A state of readiness with cognitive, emotional, and behavioral components, which reflects the beliefs of the consumer with regard to messages, brands, products, product characteristics, and so forth.
Undifferentiated Marketing
A strategy that views all potential customers as though they are the same
Subculture
A subset of people with shared values within a culture.
Classical Conditioning
After two stimuli are presented together repeatedly, people learn to respond to one in the same way as the other.
Product Mix
All the product lines a company offers.
______ is based on decision rules about which product or service is most likely to satisfy goals.
Alternatives Evaluation
Objective Assessment of Quality
An evaluation of the degree to which a product does what it is supposed to do.
Unsought Product
An item that consumers don't think about frequently and for which they don't perceive much need.
Supplies
Consumable items used for business operations.
Segmentation
Division of a market into homogeneous groups with similar needs, wants, values and buying behavior.
ZIP code Segmentation
Division of a market into specific geographic locations based on the demographic makeup of the ZIP code area.
Demographic Segmentation
Division of the market according to such characteristics as gender, family life cycle, household type and income.
Although most goods can be stored until needed, services can be extremely _______ — their value exists for a short time.
Perishable
__________ makes a product appear unique relative to others, whether produced by the same company or the competition.
Product Differentiation
Executives are emphasizing the firm's _____ — all of the product lines a company offers.
Product Mix
Augmented Product
Product with characteristics that enhance its value beyond that of the core and branded product.
Political Marketing
Promoting an individual or idea motivated by the desire to influence public policy and voters.
Person Marketing
Promoting an individual's personality, character, and appeal, which in turn may assist in the promotion of a product.
Which of the following is NOT a segmentation variable? Select one: a. zip code b. NAFTA c. age d. income e. lifestyle
b. NAFTA
A customer's positive, neutral or negative feeling about the value received from an organization's product in specific use situations is called Select one: a. customer loyalty b. customer satisfaction c. customer lifetime value (CLV) d. customer expectations e. a customer satisfaction measurement program
b. customer satisfaction
Which type of product has characteristics that enhance value beyond that of the core and branded products? Select one: a. extended b. post branded c. augmented d. unsought e. generic
c. augmented
Customer Satisfaction
A customer's positive, neutral or negative feeling about the value received from an organization's product in specific use situations.
Positioning Map
A diagram of how consumers in a segment perceive brands based on specific elements they consider important.
Brand Loyalty
A dimension of brand equity that causes consumers to choose one brand over others available.
Brand
A distinguishing name or symbol to identify and differentiate products from those of competitors.
Dynamically Continuous Innovation
A familiar product with additional features and benefits that require or permit consumers to alter some aspect of their behavior.
Associative Reference Groups
A group with which people want to identify.
Marker Segment
A homogeneous group with similar needs, wants, values and buying behavior.
Product Differentiation
A marketing strategy with which companies attempt to make their products appear unique relative to the competition.
Customer Loyalty
A measure of how often, when selecting from a product class, a customer purchases a particular brand.
Continuous Innovation
A minor alteration in an existing product, such as a new style or model, that can be easily adopted without significant changes in consumer behavior.
Line Extension
A new product closely related to others in the line.
Product Concept
A product idea that has been refined into written descriptions, pictures and specifications.
Convenience Product
A relatively inexpensive item that consumers purchase frequently and with minimum effort.
Test Market
A small geographic area, with characteristics similar to the total market, in which a product is introduced with a complete marketing program.
Niche
A very small market segment that most companies ignore because they fail to see any opportunity.
_________ helps identify the facilitators and inhibitors to a product's success.
Concept Testing
Alternatives Evaluation
Use of decision rules that attempt to determine which product would be most likely to satisfy goals.
Functional Element
What a service is supposed to accomplish.
When a company continually improves its product quality, it is affecting its Select one: a. static quality. b. objective assessment of quality. c. dynamic quality. d. subjective assessment of quality. e. service quality.
a. static quality.
Which of the following is a social factor that influences consumer behavior? Select one: a. subculture b. motivation c. perception d. evaluation e. attitudes
a. subculture
Which of the following is NOT one of the three dimensions marketers use to describe products? Select one: a. unsought b. core c. branded d. augmented e. none of the above
a. unsought
Which of the following would likely be included in a market segment profile? Select one: a. the expected growth rate b. the number of current and potential buyers c. the amount of fixed overhead the segment may provide d. a and b e. a and c
d. a and b
Satisfaction ratings allow a customer to Select one: a. compare brands b. enable testing agencies to determine how well products perform c. share satisfaction levels about goods and services with companies that sell them d. all of the above e. none of the above
d. all of the above
The increase of demand for services such as grocery delivery to individual households is an example of: Select one: a. decreased disposable income. b. increased disposable income c. technological advances. d. changing quality of life values. e. Competition in professional services.
d. changing quality of life values.
The basic and essential function a customer receives in the form of a physical item or intangible service is called a(n): Select one: a. emergency product. b. convenience product. c. capital product. d. core product. e. branded product.
d. core product.
The amount of profit an organization expects to obtain over the course of a customer relationship is which of the following? Select one: a. customer satisfaction b. customer loyalty c. customer profit margin d. customer lifetime value (CLV) e. customer profit/loss estimate
d. customer lifetime value (CLV)
When one part of an organization markets its capabilities to others within the same firm, this is called: Select one: a. external marketing. b. nonprofit marketing. c. event marketing. d. internal marketing. e. providing positive social benefits.
d. internal marketing.
Which of the following is the correct sequence of stages in a product life cycle? Select one: a. growth, introduction, maturity, decline b. introduction, maturity, growth, decline c. maturity, growth, decline, introduction d. introduction, growth, maturity, decline e. planning, introduction, growth, decline
d. introduction, growth, maturity, decline
Creating an image or perception in the minds of consumers about an organization or its products relative to the competition is called: Select one: a. market sampling. b. focusing. c. demand forecasting. d. positioning. e. targeting.
d. positioning.
Which would be the most logical market planning option to adopt for introducing a new product to existing market segments? Select one: a. core product focus b. market development c. diversification d. product development e. market segmentation
d. product development
Which of the following correctly identifies the four types of product planning? Select one: a. diversification, market development, core product focus, product enhancement b. core product focus, diversification, product development, market segmentation c. market development, diversification, product development, augmented product focus d. product development, diversification, market development, core product focus e. diversification, target marketing, core product focus, product development
d. product development, diversification, market development, core product focus
Customer Expectations
Consumer beliefs about the performance of a product based on prior experience and communications
Controlled Test Market
Consumer panels or other techniques to gain similar information obtained from real test markets.
Laggards
Consumers who resist new products the longest.
_________ is a minor change to a familiar product, such as anew style or model that can be easily adopted without significant alterations in consumer behavior.
Continuous Innovation
Joint Marketing
Cooperation between two companies to sell their products, which tend to be complementary.
In addition to generating sales, loyal customers affect the __________, which is the amount of resources required to produce a specific amount of sales.
Cost Structure
Positioning
Creating an image or perception in the minds of consumers about the organization or its products relative to the competition.
__________ are consumer beliefs about the performance of a product based on prior experience and communications.
Customer Expectations
Some companies calculate the _________ , which is the amount of profit an organization expects to obtain over the course of a customer relationship.
Customer Lifetime Value (CLV)
___________ refers to how often, when selecting from a product class, a customer purchases a particular brand.
Customer Loyalty
__________ is a customer's positive, neutral or negative feeling about the value received from an organization's product in specific use situations.
Customer Satisfaction
The ________ consists of thinking through the situation, recalling previous experiences stored in memory (internal search), and probably seeking information from friends, salespeople, advertisements, online services, publications such as Consumers Reports, and other sources (external search).
Information Search
Market Segment Profile
Information about a market segment and the amount of opportunity it represents
_________ occurs when one part of an organization markets its capabilities to others within the same firm.
Internal Marketing
The ________ involves the personal behaviors and physical atmosphere of the service environment.
Internative Element
Differentiated Marketing
Marketing to each of several segments with a marketing mix strategy matched specifically to its desires and expectations.
Take-down Segmentation Method
Method that starts with a set of variables and assigns all consumers to one of them.
Build-up Segmentation Method
Method that starts with a single potential customer's characteristics and adds a segment for each new characteristic found in other customers.
_________ involves the promotion of an individual or idea with the aim of influencing public policy and voters.
Political Marketing
________ is the creation of an image, reputation or perception in the minds of consumers about the organization or its products relative to competition.
Positioning
_______ occurs when a consumer becomes aware of an unfulfilled desire, or need.
Problem Recognition
Business analysis starts with the _________ , which refines the idea into written descriptions, pictures and specifications.
Product Concept
Place Marketing
Promoting a geographical location in order to appeal to businesses, investors and tourists.
Event Marketing
Promoting an event in order to generate revenues and enhance the reputation of an organization.
Core Service
The basic benefit delivered.
Memory
The brain function that stores and recalls encoded information; includes sensory, short-term, and long-term capacities.
Product Position
The characteristics consumers associate with a brand based on important attributes.
Branded Product
The core product plus the characteristics that allow the consumer to differentiate it from similar products.
Quality
The degree of excellence in a company's products or services.
Perceived Brand Quality
The degree to which a brand consistently produces satisfaction by meeting customer expectations.
Subjective Assessment of Quality
The degree to which a product does what consumers expect it to do.
Divergence
The degree to which a service involves customization beyond routine or standardized procedures.
A descriptive characteristic that helps separate potential purchasers into groups is called a: Select one: a. product differentiating variable b. de-ethnicization c. psychographic ethno variable d. segmentation variable e. product purchaser variable
d. segmentation variable
Asian-American consumers, Hispanic consumers, and African-American consumers are all considered to be which of the following? Select one: a. reference groups b. social classes c. cultures d. subcultures e. all of the above
d. subcultures
Which of the following is a method of business market segmentation? Select one: a. product/technology b. geographic scope c. buying approach d. company demographics e. all of the other answers are correct
e. all of the other answers are correct
Marketers know that a family's needs and purchase decisions vary at each stage of the family life cycle. Which of the following is NOT a stage in the family life cycle? Select one: a. sole survivors b. young singles c. new couples d. full nesters e. birth
e. birth
Goods and services differ in that Select one: a. goods are intangible. b. services are tangible. c. goods are tangible. d. services usually involve suppliers connecting directly with consumers for performance of the service. e. c and d
e. c and d
The idea that people can learn to respond to one stimulus in the same way they respond to another stimulus if the two are presented together is called: Select one: a. operant conditioning b. generalization c. discrimination d. perceptual learning e. classical conditioning
e. classical conditioning
Which of the following is NOT a factor that influences consumer acceptance of new products? Select one: a. complexity b. observability c. compatibility d. relative advantage e. diffusion process ratings
e. diffusion process ratings
All of the following are psychological factors that influence consumer behavior EXCEPT: Select one: a. attitudes b. perception c. motivation d. learning e. geography
e. geography
Capital Product
A costly item that lasts a long time but does not become part of any finished product.
Hybrid Brand Strategy
A combination of two or more brand strategies.
Franchise
A contractual agreement whereby an entrepreneur pays a fee for the franchise name and agrees to meet operating requirements and use the organization's marketing plan.
Belief
A conviction that something is true or that descriptive statements are factual.
Service
An idea, task, experience or activity that can be exchanged for value to satisfy the needs and wants of consumers and businesses.
Customer Satisfaction Measurement Program
An ongoing survey of customers (and competitors' customers) for the purpose of obtaining continuous estimates of satisfaction.
Learning
Any change in consumer behavior caused by experience.
Segmentation Variable
Any distinguishing market factor that can vary, such as gender, age or income
Business Analysis
Assessment of the attractiveness of the product from a sales, cost, profit and cash flow standpoint.
_________ involves gaining public support and financing for a cause in order to bring about a change or a remedy.
Cause Marketing
Problem Recognition
Becoming aware of an unfulfilled need or desire.
__________ is the systematic evaluation of the practices of excellent organizations to learn new and better ways of serving customers.
Benchmarking
Manufacturer's Brand (National Brand)
Brand named after the manufacturer.
A _________ assesses the attractiveness of a product from a sales, cost, profit and cash flow standpoint.
Business Analysis
Heterogeneous Group
Buyers with diverse characteristics.
Homogeneous Group
Buyers with similar characteristics.
A ___________ is an entirely new product with new functions.
Discontinuous Innovation
__________ is the amount of routine procedure involved.
Divergence
_________ results when a major change makes the existing standard obsolete.
Dynamic Quality
________ is the promotion of an event in order to generate revenues and enhance the reputation of an organization.
Event Marketing
Simulated Product Test
Experimentation with the marketing strategy in artificial conditions.
Target Marketing
The selection of specific homogeneous groups (segment) of potential customers for emphasis.
Commercialization
Final stage in the new-product development process, when the product is introduced into the market.
Concentrated Marketing
Focusing the organization's marketing mix strategy on one or only a few of many possible segments.
Cause Marketing
Gaining public support and financing in order to change or remedy a situation.
________ is the use of a range of formal and informal methods to stimulate new product concepts from a number of sources.
Idea Generation
A good system will provide hundreds of new-product ideas each year. The _________ process identifies those with the strongest potential for success.
Idea Screening
Idea Screening
Identifying the new-product ideas that have the most potential to succeed.
Warranties
Implied or written expectations about product performance.
Centralized Decision Making
Management process in which a small group of executives makes all the major decisions for the whole company.
Decentralized Decision Making
Management process in which numerous groups, each dedicated to a specific segment, make decisions about their segment.
_______ occurs when existing products are offered to new segments.
Market Development
A ________ is a homogeneous group of customers with similar needs, wants, values and buying behavior.
Market Segment
Psychographics
Marketing approaches and tools used to identify lifestyles based on measures of consumers' values, activities, interests, opinions, demographics and other factors.
Approach-approach Conflict
Motivational conflict that occurs when a consumer desires two objectives but cannot have both.
________ is performed by an organization that is not motivated by profit and is exempt from paying taxes on any excess revenues over costs.
Nonprofit Marketing
Market Development
Offering existing products to new market segments.
Product Development
Offering new products to existing market segments.
________ involves promoting an individual's character, personality and appeal, which in turn may be used to promote a service or product.
Person Marketing
The ______ emerges from the evaluation of alternatives.
Purchase Decision
The _______ stage results in satisfaction or dissatisfaction.
Purchase Evaluation
______ describes the degree of excellence in a company's products and services.
Quality
Dynamic Quality
Quality that results from a change that makes an existing standard obsolete.
Static Quality
Quality that results when individuals or organizations perfect an accepted practice.
Satisfaction Ratings
Ratings provided by testing agencies that compare purchase and/or performance satisfaction of specific products or market segments.
A ________ is any descriptive characteristic that helps separate potential purchasers into groups.
Segmentation Variable
__________ is the number and intricacy of steps involved in producing a service.
Service Complexity
_________ results when an accepted practice is perfected. Many companies have processes designed to produce items to given quality standards that approach perfection.
Static Quality
In the 1950s, Dr. Edward Deming took a new approach to the issue. He applied the idea of ________, a concept he learned while a statistician at AT&T's Bell Laboratories, to manufacturing.
Statistical Quality Control
Because it would be difficult to appeal successfully to each segment, companies select certain ones that they think will be most profitable for their marketing efforts. This is called ________.
Target Marketing
A __________ is a small geographical area, with characteristics similar to the total market, where the product is introduced with a complete marketing program.
Test Market
Concept Testing
Testing the new-product concept to evaluate the likelihood of its success.
Customer Behavior
The actions and decision processes of individuals and households in discovering, evaluating, acquiring, consuming, and disposing of products.
Nonprofit Marketing
The activities performed by an organization not motivated by profit to influence consumers to support it with a contribution.
Cost Structure
The amount of money required to produce a specific amount of sales.
Customer Lifetime Value (CLV)
The amount of profit a company expects to obtain over the course of a customer relationship.
Innovators
The first group of consumers to purchase a new product.
Product Planning
The focus given to core businesses, market development, product development and diversification.
Product Life Cycle
The four stages a product goes through
Idea Generation
The gathering of suggestions for new products from a number of sources using a range of formal and informal methods.
Service Encounter
The interaction between the consumer and the seller.
Internal Marketing
The marketing of a business unit's capabilities to others within the same firm.
Later Majority
The more skeptical consumers who purchase products after the early majority.
Service Complexity
The number and intricacy of steps involved in producing a service.
Breadth
The number of different lines a company markets.
Depth
The number of items in a product line.
Targeting Strategy
The number of market segments and the relative amount of resources targeted at each.
Customer Defections
The percentage of customers who switch to another brand or supplier.
Interactive Element
The personal behaviors and atmosphere of the service environment.
Encoding
The process of converting information to knowledge.
Purchase Evaluation
The process of determining satisfaction or dissatisfaction with a buying choice.
Product Liability
The responsibility of marketers and manufacturers for injuries and damages caused by a faulty product.
De-ethnicization
The result of targeting a product heavily associated with one ethnic group to other segments.
Early Adopters
The second group of consumers to purchase new products.
Values
The shared norms about what is right to think and do; what a culture considers to be worthy and desirable.
Diffusion Process
The spread of innovations from one group of consumers to another over time.
Adoption Process
The steps an individual consumer goes through in making a product choice.
Benchmarking
The systematic evaluation of practices of excellent organizations to learn new and better ways to serve customers.
Perishable
The temporal nature of services, whose value exists for only a short time.
Selective Attention
The tendency to heed information that supports current views and behaviors.
Selective Retention
The tendency to remember some and forget other information.
Selective Exposure
The tendency to seek out or avoid information sources.
Early Majority
The third group of adopters, who are more risk averse in purchase decisions than innovators and early adopters.
Statistical Quality Control
The use of statistics to isolate and quantify production line problems that may cause product defects.
Product Recall
The withdrawal from the market, by either a manufacturer or the federal government, and the repair, replacement or discontinuation of a potentially harmful product.
Information Search
Thinking through a situation by recalling information from stored memory or obtaining it from external sources.
Making a product appear unique relative to others, whether produced by the same company or the competition, is called: Select one: a. product differentiation. b. concentrated marketing. c. market segmentation. d. mass customization. e. market aggregation.
a. product differentiation.
When a camera company adds a new zoom feature to one of its popular models, and the feature is easily adopted without significant changes in consumer behavior, what type of innovation is the company introducing? Select one: a. continuous innovation b. dynamically continuous innovation c. discontinuous innovation d. relative advantage e. compatibility
a. continuous innovation
The measurement of how often a customer purchases a particular brand when selecting from a product class is known as Select one: a. customer loyalty b. customer satisfaction c. customer lifetime value (CLV) d. customer purchase behavior e. customer expectations
a. customer loyalty
Augmented service and branded products serve what purpose? Select one: a. differentiation b. increased revenue c. decreased costs d. external adoption of corporate strategy e. government deregulation
a. differentiation
The largest percent of all trade among nations is created by Select one: a. global services. b. global goods. c. international hedge funds. d. automobile sales. e. the hospitality industry.
a. global services.
Subjective assessment of quality indicates to what degree the product does what Select one: a. product engineers designed the product to do. b. customers want the product to do. c. suppliers promoted the product would do on a consistent basis. d. promoters promised the product would do on a consistent basis. e. quality control managers designed it to do.
b. customers want the product to do.
Which of the following best explains market segmentation? Select one: a. differentiating an organization or its products relative to the competition b. dividing a market into several smaller groups of buyers with similar characteristics c. selecting certain market segments for marketing emphasis d. attempting to reach most or nearly all consumers with the same marketing approach e. creating a marketing strategy with the same message to all segments
b. dividing a market into several smaller groups of buyers with similar characteristics
According to the text, which two groups create the largest proportion of consumers in the diffusion process of innovation? Select one: a. late majority and laggards b. early majority and late majority c. innovators and laggards d. early adopters and early majority e. innovators and early adopters
b. early majority and late majority
According to the text, how many steps are involved in the consumer decision making process? Select one: a. six b. five c. seven d. four e. three
b. five
When a company markets a product with no brand name, it is using which of the following strategies? Select one: a. family brand b. generic brand c. hybrid brand d. individual brand e. manufacturer's brand
b. generic brand
Choosing a candy bar to buy at the grocery store is considered to be what type of a purchase? Select one: a. high involvement b. low involvement c. medium involvement d. low to medium involvement e. medium to high involvement
b. low involvement
In comparison to specialty products, convenience products are purchased: Select one: a. less frequently. b. more frequently. c. twice as often. d. with more effort. e. only after considerable pre-purchase planning.
b. more frequently.
The activities performed by an organization not motivated by profit to influence consumers to support it with a contribution are considered: Select one: a. internal marketing. b. nonprofit marketing. c. event marketing. d. person marketing. e. political marketing.
b. nonprofit marketing.
All of the product lines a company offers are collectively called the: Select one: a. product menu. b. product mix. c. marketing mix. d. line extension. e. adoption mix.
b. product mix.
Written or implied expectations about product performance are considered to be which of the following? Select one: a. product recalls b. product warranties c. product liabilities d. product essentials e. product trademarks
b. product warranties
The tendency for a person to heed information that supports his/her current views, behaviors or beliefs is called: Select one: a. selective exposure b. selective attention c. selective comprehension d. selective retention e. selective learning
b. selective attention
Person marketing, event marketing, place marketing, political marketing, cause marketing and internal marketing are all examples of: Select one: a. goods marketing. b. service marketing. c. nonprofit marketing. d. a and b e. a and c
b. service marketing.
Which of the following is considered an important catalyst for transforming U.S. businesses because it promotes quality excellence, recognizes achievements by companies that effectively improve quality, and supplies guidelines that businesses can use to evaluate their quality improvement efforts? Select one: a. the Deming Prize b. the Malcolm Baldrige National Quality Award c. the Ritz-Carlton Gold Standard Award d. the Kellogg Green Standard Award e. the Spartan All-Access Award
b. the Malcolm Baldrige National Quality Award
Which of the following is NOT a step for positioning? Select one: a. Diagram the most important dimensions on a grid. b. Locate the brand relative to others based on how it is perceived by buyers. c. Identify the attributes or characteristics used by sellers in a segment to understand brands. d. Identify the ideal position for buyers in the segment. e. Develop the marketing mix that supports the positioning strategy selected.
c. Identify the attributes or characteristics used by sellers in a segment to understand brands.
A contractual agreement in which an entrepreneur pays a fee and agrees to meet operating requirements in exchange for a known business name and marketing plan is called a: Select one: a. subcontract. b. license. c. franchise. d. simultaneous production. e. product recall.
c. franchise.
On the continuum of goods and services, restaurants, bookstores and movie theaters are considered which of the following? Select one: a. almost pure goods b. goods with services c. half goods, half services d. services with goods e. almost pure services
c. half goods, half services
A company with shallow product line depth and broad product line breadth would have which of the following? Select one: a. few product lines with many items in each b. many different product lines with many items in each c. many different product lines with a few items in each d. few product lines with a few items in each e. none of the above
c. many different product lines with a few items in each
When existing products are offered to new market segments, which of the following occurs? Select one: a. product development b. diversification c. market development d. core product focus e. integrated product lines
c. market development
In what stage of the new product development process is a product introduced to a small, geographical area with characteristics similar to the total market? Select one: a. prototype product development b. commercialization c. market testing d. idea screening e. idea generation
c. market testing
Which of the following is not one of the three stages marketers use to connect with customers: Select one: a. targeting b. positioning c. sampling d. segmentation e. all of the other answers are correct
c. sampling
Which of the following is not a global force creating growth in services? Select one: a. need for specialization b. government deregulation c. selective retention d. changes in quality of life e. technology
c. selective retention
Why do marketers use Maslow's Hierarchy of Needs? Select one: a. to determine approach-avoidance strategies b. to forecast sales of high involvement purchases c. to help categorize consumer desires d. to estimate revenue of basic consumer products e. to create purchase evaluations
c. to help categorize consumer desires
The breadth of product lines refers to: Select one: a. the number of items in each product line. b. the number of products a company markets. c. the number of distributors that carry the product line. d. the number of different lines a company markets. e. a measurement of depth and shallowness.
d. the number of different lines a company markets.
Which of the following is a reason why customers may defect from (leave) a company? Select one: a. They don't like the way they were treated. b. They are dissatisfied with a particular product or service. c. They leave for reasons unrelated to the product or service (such as relocation). d. They prefer another product or service. e. All of the above
e. All of the above
The Fair Packaging and Labeling Act of 1966 requires which of the following on consumer products? Select one: a. adequate information when value comparisons are made with competitive products b. recommended uses c. brand name and symbol d. manufacturer's name and address e. all of the above
e. all of the above
Which of the following is true of a high involvement purchase? Select one: a. It requires a complex buying decision. b. Brand evaluation occurs before purchase. c. It has a higher risk of visibility. d. The purchase requires active decision making. e. all of the above
e. all of the above
Subgroups of a market are homogeneous. This statement means that subgroups are: Select one: a. made up of heterogeneous buyers. b. made up of many types of buyers. c. made up of buyers who are opposed to a new product. d. made up of sellers who market different products. e. made up of buyers who have similar characteristics.
e. made up of buyers who have similar characteristics.
In which stage of the product life cycle is the marketing objective to hold market share profitability? Select one: a. decline b. growth c. introduction d. performance e. maturity
e. maturity
The responsibility of marketers and manufacturers for injuries and damages caused by a faulty product is referred to as which of the following? Select one: a. joint marketing b. warranties c. brand awareness d. product recall e. product liability
e. product liability
The degree of excellence of a company's products or services is referred to as Select one: a. subjective assessment of quality. b. statistical quality control. c. static quality. d. dynamic quality. e. quality.
e. quality.
Which of the following is not a basis for customer expectations? Select one: a. personal experience b. advertising and promotion c. company actions d. observation of others e. warranty extension
e. warranty extension