Exam 2 - Chapter 4,7,8,9

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In which of the following cases is crowdsourcing used for new product​ development?

A company creates a forum where anyone can contribute new product ideas.

Which of the following is true of focus group​ discussions?

Consumers are not always honest and open about their opinions.

​________ products are consumer products and services that customers usually buy​ frequently, immediately, and with minimal comparison and buying effort.

Convenience

________ is the systematic​ design, collection,​ analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Marketing research

Annie​ Carson, the owner of​ Annie's Dairy​ Bar, is considering opening a second location. She evaluates several potential sites by assessing traffic​ patterns, neighborhood​ conditions, and the locations of competitors. Annie is engaging in​ ________.

observational research

The initial function of a marketing information system is​ ________.

assessing the information needs of a company

Product planners must build​ a(n) ________ product around the core benefit and actual product by offering additional consumer services and benefits.

augmented

Which of the following terms best describes the process of designing and producing a container or wrapper for a​ product?

packaging

As a result of​ ________, a company cannot make its product illegally similar to a​ competitor's already established product.

patent laws

World​ Skies' Flight 167 takes off at 50 percent capacity. The unoccupied seats cannot be stored for later sale or use. This is an example of which service​ characteristic?

perishability

A detailed version of a product idea stated in meaningful consumer terms is a​ ________.

product concept

Taco Bell test marketed Doritos Locos Tacos for three years and developed 45 prototypes. Once the decision was made to launch the new taco​ shell, it moved into the​ ________ stage of the new product development process.

product development

Clorox sells five major product lines including​ cleaning, household,​ lifestyle, professional, and international. Together the product lines make up​ Clorox's ________.

product mix

Some companies are now appointing​ ________, whose job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems.

product stewards

Many companies are taking a​ ________ approach, viewing quality as an investment and holding quality efforts accountable for​ bottom-line results.

quality level

What are the two main types of research instruments used to collect primary​ data?

questionnaires and mechanical devices

A practice called​ ________ allows marketers to use online data to target ads and offers to specific customers.

behavioral targeting

A​ ________ is defined as a​ name, term,​ sign, symbol, or​ design, or a combination of​ these, that identifies the maker or seller of a product or service.

brand

Hollingsworth is a retail company that is planning to release a new line of luxury personal care products. Its managers are now reviewing the sales history of similar products and conducting marketing surveys to estimate minimum and maximum sales for the product. In which of the following stages of the new product development process is the​ product?

business analysis

Under a​ ________ product development​ approach, one company department works to complete its stage of the product development process before passing the new product along to the next department and stage.

sequential

A product line is most likely too short if managers can​ ________.

increase profits by adding items

Zappos recognizes the importance of the​ buyer-seller interaction. They only hire people with an innate​ "passion to​ serve" and they go through four weeks of customer loyalty training. This is referred to as​ ________ marketing.

interactive

Susan​ Hart, the manager of a​ children's boutique, collects data from her monthly records of​ sales, costs, and cash flow. In this​ case, Susan is making use of​ ________ databases.

internal

Companies like​ 3M, Google, and Sony have​ ________ that encourage employees to develop new ideas.

intrapreneurial programs

Which of the following is an example of an unsought​ product?

life insurance

Service variability means that​ ________.

service quality depends on​ when, where, and how they are provided

Which of the following is a pure tangible​ good?

shampoo

​________ products are less frequently purchased consumer products and services that customers compare carefully on​ suitability, quality,​ price, and style.

shopping

​________ products are consumer products and services with unique characteristics or brand identifications for which a significant group of buyers is willing to make more effort than usual to purchase.

specialty

Susan has been redecorating her new condo for a year. She is carefully selecting every item. Susan finds an oriental rug that matches her color scheme and décor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of​ a(n) ________.

specialty product

Colonial furniture has been in existence since the 1600s and continues to adorn homes today. According to the product life cycle​ concept, it would be described as a​ ________.

style

The first part of a marketing strategy statement describes the​ ________ of a new product.

target​ market, planned value​ proposition, and sales goals

Which of the following is an example of a shopping​ product?

television

Causal research is used to​ ________.

test hypotheses about​ cause-and-effect relationships

Foods International is developing a new​ gluten-free, chili-flavored pretzel. The marketing strategy for the product has already been developed and presented to top management. Several prototypes were also formulated by the​ company's R&D team. The final prototype is now being tested rigorously to ensure that it passes FDA standards. Once​ approved, the next step will most likely be​ ________.

test marketing

Which of the following demonstrates the real value of a​ company's marketing research and information​ system?

the customer insights it provides

Product mix length refers to the​ ________.

total number of items a company carries within its product lines

Specialty products are consumer products and services that customers generally buy​ ________.

without making comparisons

Erica Jenson has a limited budget to conduct market research. Which of the following research approaches would provide Erica with the most​ cost-effective way to reach a large number of respondents in a short​ period?

​Internet-based surveys Your answer is correct.

A firm has a huge amount of individual customer data saved in different databases. Which of the following can be used to​ integrate, analyze, and apply the available information​ effectively?

CRM systems

Which of the following is an advantage of primary​ data?

They are more relevant than secondary data.

​________ is the final step in the marketing research process.

Interpreting and reporting the findings

Which of the following is true about the introduction stage of a new​ product?

Sales growth tends to be slow.

Which of the following is most likely a true statement about shopping​ products?

Shopping products are purchased less frequently than convenience products.

Which of the following is a desirable quality for a brand​ name?

The name should translate easily into foreign languages.

​________ can describe a product​ class, a product​ form, or a brand.

The product life cycle concept

Product modifications are an important source of new products for organizations

True

The federal government has the legal authority to prevent a company from adding products through acquisitions if the acquisition threatens to lessen competition.

True

Introducing a new product into the market is called​ ________.

commercialization

Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve​ Hammond's purpose?

competitive marketing intelligence

The stage in which product ideas are presented to groups of target consumers physically or symbolically is referred to as​ ________.

concept testing

Evans and​ Hills, a beverages manufacturing​ company, has developed a new line of specialty teas and is seeking regular input from the test marketing process. To facilitate this​ process, the firm uses​ BuyerScan, a software that generates​ store-by-store, week-by-week reports on the actual sales of tested products and the impact of​ in-store and​ in-home marketing efforts. Which of the following approaches does this scenario​ illustrate?

controlled test markets

​Harley-Davidson disciples share a​ common, deeply held attraction to the brand. Harley appeals​ include: freedom,​ independence, power, and authenticity.​ Harley-Davidson doesn't just sell motorcycles. It sells​ self-expression, lifestyles,​ aspirations, and dreams. This illustrates​ ________.

core customer values

In terms of packaging​ functions, Tiffany​ & Co.'s robin egg blue boxes​ ________.

create immediate consumer recognition

Kallton 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, Kallton is using​ ________ to generate new product ideas.

crowdsourcing

A product life cycle has five distinct​ stages: product​ development, introduction,​ growth, maturity, and​ ________.

decline

The marketing manager of Appeal Inc. has noticed a sharp decrease in sales over the last two months. The manager decides to conduct marketing research to identify potential causes for the drop in sales. Which of the following should the manager do​ first?

define the problem and objectives

​Brooke's Boutique plans to launch a new clothing line. For this​ purpose, the firm first conducts a survey to understand its target audience and identify the demographics of potential buyers. It then conducts experimental research to test whether customers associate discounted prices with lower product quality. Which types of research has the boutique employed in this​ case?

descriptive followed by causal

Acquisitions do not include​ ________.

developing a product

Marque, a​ high-end maker of designer​ watches, has started making inexpensive watches to take advantage of enormous growth rates in​ low-end market segments. Marque is most likely engaging in​ ________.

downward stretching

A major advantage of a mail survey is that it​ ________.

eliminates interviewer bias

A company that sells personal care products sends a trained observer to watch potential buyers in their natural environments. This is an example of​ ________ research.

ethnographic

The objective of​ ________ research is to gather preliminary information that will help define the problem and suggest hypotheses.

exploratory

​Flurrbies, a line of winter accessories by a leading fashion​ label, quickly fell in and out of favor with customers. Flurrbies represents an example of a​ ________.

fad

The new product development process usually starts with​ ________.

idea generation

Safari Unlimited recently conducted national research to generate ideas for a new line of fatigues geared to women. The company uncovered a number of ideas about clothing and accessory preferences as well as important benefits such as​ built-in sunblock and durability. The Safari Unlimited product development team will most likely use​ ________ next to arrive at a realistic number of products for the new fatigues line.

idea screening

Data​ collection, processing, and analysis are undertaken during which stage of the marketing research​ process?

implementing the research plan

Kathy Jenkins is planning to conduct research on​ consumers' personal care routines. Since the questions are likely to be personal and​ sensitive, Kathy wants to select a contact method that will encourage respondents to answer honestly. Which of the following contact methods is most likely to best serve​ Kathy's purpose?

mail questionnaires

Although internal databases can be accessed more quickly and cheaply than other information​ sources, one of the challenges of internal databases is​ ________.

maintaining the current database

Which of the following is a quantitative approach to​ research?

marketing surveys

Appliances Galore is continually updating its line of refrigerators to reflect market trends and customer needs. Although the product class is in the maturity stage of the product life​ cycle, they maintain healthy sales of their line of refrigerators by continually​ ________.

modifying the product

Which of the following would most likely use informal research methods to obtain marketing​ insights?

not-for-profit organizations

Product mix width refers to the​ ________.

number of different product lines the company carries

Product mix depth refers to the​ ________.

number of versions offered for each product in the line

​A(n) ________ is best suited for exploratory research.

observation


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