Test 1

The early majority represents a good portion of total product sales. Generally this group needs to be:

convinced of the product's claims and value proposition before making a commitment

Davido's Pizza promised delivery in 30 minutes, but it averaged closer to 60-minute deliveries. Eventually Davido's began to lose customers to other pizza restaurants because they didn't trust Davido's promise of quick delivery. What positioning error did Davido's make?

doubtful positioning

Goods incorporated directly in a manufacturer's process are called:

materials (either natural products or farm products) or parts (either fully assembled or components)

A service is a product without:

physical form

A second communications issue is the allocation of communications budget dollars across product items in a:

product line

A ______ helps managers understand the key links in service delivery system that drive customer loyalty, revenue growth, and higher profits.

service-profit chain

A key decision for marketers is the degree to which marketing communications focuses on:

single product item versus a product brand

When analyzing segment attractiveness, one of the three factors to consider is the segment's:

strategic fit to the company's goals

Critical Characteristics of post-purchase assessment

•Dissonance •Use/Nonuse •Disposal •Satisfaction/Dissatisfaction

The Three Major Types of Attributes:

(1) Search Attributes (2) Experience Attributes (3) Credence Attributes

Product definition has three objectives:

(1)It defines the product's value proposition. (2)the definition briefly identifies the target markets and the purchase frequency. (3)The definition delineates the product's characteristics

In the business market purchase decision process, new buys will include:

(1)Problem Recognition (2)Define the Need & Product Specifications (3)Search for Suppliers (4)Seek Sales Proposal - Response to RFP (5)Make the Purchase Decision (6)Post-Purchase Evaluation of Product and Vendor

The nature of business-to-business markets requires ________.

A) A more personal relationship between buyer and seller B) Investment of more resources to foster and maintain personal contact C) Investment in suppliers to strengthen relationships D) All of the above All of the above is correct

An original equipment manufacturer (OEM) can buy on "best" price or may use other criteria to make purchase decisions, such as ________.

A) Product quality B) Ability to meet demand C) Just-in-time delivery schedules D) All of the above All of the above is correct

Credit availability, creative pricing, and new financing arrangements enable and even encourage people to engage in

Aspirational Purchases

Riverside Senior living has a campus with living arrangements for independent living, assisted living, rehabilitation, memory care, and skilled nursing. What type of segmentation is Riverside using?

Behavioral

ABC Automobile Manufacturers is the leading brand in economy cars with respect to gas mileage. If ABC wanted to start making hybrid vehicles under the same brand name, the company would likely be successful because of its previous product offerings. This is an example of linking the ______ benefit of brand equity to marketing strategy

Brand Connections

Xie Zang is considering buying a new car. Because she had a good experience with her previous car from XYZ Motors, she determines that a car from XYZ Motors will best meet her current needs. This is an example of the ______ role in customer purchase decisions.

Brand Education

______ is a summary of unique qualities attributed to the brand

Brand Identity

Many companies are using popular songs from the 1960s and 1970s in their advertising. When individuals, particularly baby boomers, hear that music it connects them with positive memories and the product and brand being advertised. This demonstrates

Classical Conditioning

Many companies are using popular songs from the 1960s and 1970s in their advertising. When individuals, particularly baby boomers, hear that music it connects them with positive memories and the product and brand being advertised. This is because individuals are involved in ________.

Classical conditioning

Samsung operates in both the consumer and business markets. It reorganized to become more efficient and was worried about serving its business customers too well. This is a problem because Samsung's business customers are also the company's ________.

Competitors in the consumer market

Sabeen didn't have time to shop for Christmas gifts, so she ordered everything from Amazon. This shows how Amazon's ______ is one way the company creates differentiation in its offerings

Convenience Leadership

________ is not a support service in the value chain.

Customer service

External factors such as social and cultural forces affect the consumer in the

Decision Process

______ indicates the amount of interpersonal contact an individual has with the reference group

Degree of Affiliation

________ indicates the amount of interpersonal contact an individual has with the reference group.

Degree of affiliation

To remain competitive, firms collect intelligence on a number of external factors. Information related to population change is referred to as ________ information.

Demographic

Which of the following is not part of the five-stage model of consumer decision making?

Evaluation of information

Every time Tameeka pays bills for her cell phone or car insurance, services that are meaningful for her, she is practicing the central tenet of marketing called ________.

Exchange

In terms of segmentation, strategic marketing includes both identifying:

Existing segments & Creating new ones

An RFP is a document that tells suppliers prices the company is willing to pay for a product over a defined period of time.

False

McClelland's Achievement Motivation Theory suggests that people need a sense of existence and relatedness. From a marketing standpoint, creating a relationship with the customers extends the customers' satisfaction with the product, according to this theory.

False

Of all the business fields, marketing is most visible to people outside the organization.

False

One weak link in the value chain is usually not noticed by consumers.

False

Qualitative research is less structured than quantitative research, making it more useful when performing statistical analysis.

False

Value may be defined as the ratio of benefits to monetary costs.

False

When all is said and done, the business-to-business market and the business-to-consumer market are the same with respect to the consumer decision process model.

False

When consumers order a newspaper subscription, they want the paper delivered early in the morning so that they can read it before setting out for the day. It appears that newspaper publishers are offering form, time, and place utility but not ownership utility.

False

The brand name "Bailey's" is used for a variety of products including liqueur, coffee creamer, and candies. This is an example of a:

Family Branding Strategy

Technology has transformed the business purchase decision process. The result of this transformation is that ________.

Frontline managers are now making purchases directly

Fun Time Corp. has decided to move production of its board games for children and adults from the United States to Mexico to realize cost savings. At the same time, the company has decided to make Spanish-language versions of the games and distribute them in Central and South America. Most likely Fun Time is pursuing a strategy of ________.

Growth/concentration based on horizontal integration

When industrial firms create their product line, they attempt to ________.

Have different quality and price levels

As the marketing manager of Tiny Tire Company, you are interested in assessing whether it is possible to decrease the amount of time between customers' tire replacement services and also whether it is possible to increase average transaction amounts through add-on sales. You decide to consult your CRM system to ________ customers' current orders.

Identify the frequency and size of

Nonprofits, hospitals, and other nongovernmental organizations

Institutions

Most products are evaluated on two dimensions—

Instrumental performance & Symbolic performance

While goods can be experienced through sensory perception, services cannot. This relates to the:

Intangibility characteristic of services

The GE Business Screen dimension of market attractiveness includes all but ________.

Market share by segment

When a company is focused on uncovering needs that customers do not realize they have, it is said to be a ________ firm.

Market-driving

The CEO of Online Clothing Retailer is interested in learning about how customers navigate his company's website. He asks ABC Research to set up a tracking program that describes how customers move around the site. ABC uses ________ to collect the data.

Mechanical observation

The B2B customer buying process is ______than the consumer purchase decision process because it takes longer and involves more people, making the seller's job more challenging

More Complex

Jennifer is looking for a new pair of running shoes. She recently viewed a TV commercial about Nike's new running shoes. Her attitude toward the ad and the product are affected by her ________.

Perceptions

Can be very useful in helping visualize where to make strategic changes to either move your product closer to the main market or further differentiate your product away from the competitive cluster and into more unique market space

Perceptual Maps

Fluctuating Demand is related to:

Perishability of service

All of the following are personal attributes except ________.

Personality

Related to product line strategy. Often multiple price points are targeted at specific markets with unique features following a (good, better, best) product line strategy is know as:

Pricing Strategy

Data collected specifically for the research question under consideration are called ________ data.

Primary

The probability of a product's success is determined in the (business case analysis) stage of the:

Product Development Process

After months of in-home research, Kraft discovered that its customers often transferred Chips Ahoy cookies to jars to keep them from going stale. The company solved this problem by creating a patented resealable opening on the top of the bag. This is an example of the ______ objective of package design

Protection

Cost reduction is a specific method for introducing lower-cost products to the market. This may involve

Reducing Features

A luxury car dealership assigns a service representative to each customer. This service rep handles all routine and emergency service appointments, writes thank-you letters, and lets the car owner know when the next service date is anticipated. This dealership has adopted a ________ approach.

Relationship orientation

How is the growth stage of the product life cycle (PLC) characterized with respect to sales revenue and profitability?

Sales begin to decline

Segments that have reasonable potential but for one reason or another are not best suited for development immediately.

Secondary Target Markets

Misunderstanding or making information fit existing beliefs is known as:

Selective Distortion

Before Carlos opened his restaurant, he brought all his new employees in for training and showed them a diagram of all the activities that would take place, from first customer contact to the customer exiting the restaurant. Carlos created

Service Blueprint

When James has to wait a long time for his takeout order, the server apologizes and offers him a coupon for $5 off his bill on the next visit. This is an example of:

Service Recovery

Gen Y consumers are much more receptive to electronic commerce as a primary means of receiving marketing communication and purchasing than their parents and grandparents. The marketing change driver represented is ________.

Shift in generational values and preferences

Elba's new blouse had a label that said it was guaranteed not to shrink or fade as long as it was dry cleaned and not hand-washed. This is an example of a

Specific Warranty

The manager of ABC Brands has large amounts of data on customers, employees, suppliers, and retailers from her marketing information system. She would like to know what important insights the data hold, but she does not have the software to unlock this information. The manager should purchase ________ software.

Statistical

A beer manufacturer has noticed that the cost of hops has increased four times in the last year. A description of this would be found in the ________ SWOT analysis.

Threats

Jean-Paul uses his smartphone to check the balance in his checking account before buying concert tickets with his debit card. Jean-Paul enjoys ________ utility.

Time and place

Peter Drucker, the father of modern management, stated that the function(s) of an organization is (are) ________.

To market and to innovate

A key focus in product launch because if you can get customers to try a new product, you can win them over with superior product design, features, and value

Trial Purchase

A firm with a production orientation assumes that "if you build it, they will come."

True

Buying center participants include users, gatekeepers, deciders, influencers, and initiators.

True

Credit availability, creative pricing, and new financing arrangements enable and even encourage people to engage in aspirational purchases.

True

Exploratory research is useful for clarifying the research problem so that testable hypotheses can be developed.

True

External factors such as social and cultural forces affect the consumer in the decision process.

True

Fine Hardwoods, Inc. supplies furniture and cabinet makers with mahogany, cherry, walnut, and other high-quality wood. The company should watch the housing market trends each month because sales are dependent on derived demand from the new construction and remodeling markets.

True

Focus groups bring together 6 to 10 people for an unstructured, rich discussion that is guided by a moderator.

True

Marketing research is called for when the answer to a specific problem or issue is not available from a firm's market information system or other sources.

True

Misunderstanding or making information fit existing beliefs is known as selective distortion.

True

Most products are evaluated on two dimensions—instrumental performance and symbolic performance.

True

Pro-social or purpose marketing refer to practices of socially responsible firms like Panera that incorporate doing well by doing good.

True

Some firms come close to one-to-one marketing by employing mass customization.

True

The GE Business Screen portfolio analysis uses three levels—high, medium, and low—to rank business position and market attractiveness.

True

The most important tool to develop and maintain a strong customer relationship in B2B markets is personal communication.

True

______ do little to inform the customer about perceived product quality and manufacturer commitment to customer satisfaction.

Warranties

Durable products have such as television and microwave ovens has:

a longer life products